MyFundedFX has released statistics covering traders’ performance within their challenge accounts.
MyFundedFX has released statistics covering traders’ performance within their challenge accounts.
MyFundedFX has released statistics covering traders’ performance within their challenge accounts from September 18th to September 24th. The report reveals a significant disparity between breached and passed accounts, raising eyebrows in the trading community.
According to the data provided by MyFundedFX, 6,975 challenge accounts were marked as “breached” during the specified period. In contrast, only 1,709 accounts were reported as “passed.” This stark contrast indicates that most traders in MyFundedFX’s challenges struggled to meet the firm’s performance benchmarks.
MyFundedFX is known for its proprietary trading programs that offer traders a chance to prove their skills and earn funding to trade with the firm’s capital. The challenges assess a trader’s ability to manage risk, execute trades effectively, and generate consistent profits. Traders who successfully pass the challenges receive funding to trade with the firm and share in the profits.
The recent statistics indicate that approximately 80% of challenge accounts were breached during the specified week. MyFundedFX has provided insights into the specific causes behind this report’s high number of breached accounts. Unexpectedly, there were many breached accounts when FOMC took place. However, the firm has traditionally emphasized the importance of risk management, disciplined trading strategies, and adherence to their guidelines as key factors for success in their challenges.
It is important to note that trading in trading markets carries inherent risks, and participants should be prepared for possible losses. Traders interested in participating in proprietary trading challenges, such as those offered by MyFundedFX, should thoroughly research and understand the specific requirements and expectations before engaging in trading activities.
Want to read about the firm? Click here.
The Funded Trader follows a belief that every retail trader deserves an opportunity to raise capital based on their performance and commitment to building their own business. They are searching for passionate and experienced traders who will succeed with the help of their funds by showing skills in various market conditions.
Bespoke Funding strives to create unique funding opportunities for traders worldwide by creating approachable ways to become a professional, funded trader who can remotely manage their capital. They have developed a user-friendly experience with the industry's best technology to back it.
MyFundedFX offers traders three different challenge programs that aim to provide an opportunity to trade without risking their own capital. Profitable traders receive a payment based on a specific percentage of the profits they make while having no liability on the firm's capital, meaning that they will cover all losses.
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