My Flash Funding Prop Firm Entry
Greetings, everyone! We're here with another review just for you. This time, our focus is on My Flash Funding and the exciting opportunities they bring to the table. My Flash Funding is a relatively new proprietary trading firm that has been steadily building and nurturing its community since April 2023.
They recently made their official debut on the 2nd of August, which was just a few weeks ago as of the time of this writing. The response from traders worldwide has been quite remarkable, thanks to their compelling approach within the proprietary trading industry and the extensive preparations leading up to their launch.
Now, let's delve deeper into My Flash Funding and explore precisely what they offer to traders around the globe. As always, make sure to stay with us until the end of this article. We've even prepared a special discount code for those interested in their enticing funding program options. Let's get started!
Their entry into the scene has quickly garnered the attention of traders worldwide, and this is primarily due to their appealing features.
Based in the United Kingdom, My Flash Funding provides traders with the opportunity to select from two distinct funding programs. These are the One-Step and Two-Step Evaluation Challenges. Let's dive in and explore both of these funding programs in more detail.
Two-Step Evaluation Program
Let's begin by examining the Two-Step evaluation program. This account is designed to identify consistent and disciplined traders who are rewarded for their reliability throughout a two-phase evaluation period.
Leverage Offered:
- Forex: 1:100
- Indices: 1:10
- Gold & Commodities: 1:20
- Crypto: 1:2
Two Step Challange
| Capital | $10,000 | $25,000 | $50,000 | $100,000 | $200,000 |
|---|---|---|---|---|---|
| Targets | Phase I- Propfit Target = 6%, Phase II- Profit Target = 6% | Phase I- Propfit Target = 6%, Phase II- Profit Target = 6% | Phase I- Propfit Target = 6%, Phase II- Profit Target = 6% | Phase I- Propfit Target = 6%, Phase II- Profit Target = 6% | Phase I- Propfit Target = 6%, Phase II- Profit Target = 6% |
| Minimum Trading Days | 0 Days | 0 Days | 0 Days | 0 Days | 0 Days |
| Time Limit | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
| Daily Starting Drawdown | 4% | 4% | 4% | 4% | 4% |
| Overall Fixed Drawdown | 8% | 8% | 8% | 8% | 8% |
| Available Leverage | upto 1:100 | upto 1:100 | upto 1:100 | upto 1:100 | upto 1:100 |
| Refundable Fee | 97$ | 187$ | 297$ | 497$ | 977$ |
Let's take a closer look at Phase 1, which requires reaching a profit target of 6% without exceeding the maximum daily loss of 4% or the overall maximum loss of 8%. During Phase 1, there are no minimum or maximum trading requirements, giving traders the freedom to trade at their own pace.
To progress to Phase 2, you are only required to achieve the 6% profit target while adhering to the maximum daily and overall loss limits.
In Phase 2, traders must once again reach a 6% profit target while abiding by the 4% daily loss and 8% overall loss rules. As in Phase 1, there are no minimum or maximum trading requirements in Phase 2. To advance to funded status, reaching the 6% profit target without breaching the loss limit rules is all that's needed.
Upon successful completion of both evaluation phases, you earn a funded account. In this stage, there are no specific profit targets; you are only required to respect the maximum daily and overall loss rules. Your initial payout occurs 30 calendar days from the day you place your first position in your funded account. Subsequent payouts are based on a weekly schedule. Your profit split stands at 80% of the profit generated on your funded account. The Two-Step evaluation accounts also come with a scaling plan.
To qualify for a scaling plan, you need to reach a profit target of 12% or more within a three-month period, earning an account increase of 30% of the original account balance. Not a bad deal.
The trading instruments available for the Two-Step evaluation account encompass Forex pairs, commodities, indices, and cryptocurrencies.
One-Step Evaluation Challenge
Now, let's shift our focus to the One-Step Evaluation Challenge account offered by My Flash Funding. Once again, this account is geared toward evaluating consistency during a single-phase evaluation period.
Leverage Offered:
- Forex: 1:100
- Indices: 1:10
- Gold & Commodities: 1:20
- Crypto: 1:2
One Step Challange
| Capital | $10,000 | $25,000 | $50,000 | $100,000 | $200,000 |
|---|---|---|---|---|---|
| Targets | 10% | 10% | 10% | 10% | 10% |
| Minimum Trading Days | 0 Days | 0 Days | 0 Days | 0 Days | 0 Days |
| Time Limit | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
| Daily Starting Drawdown | 4% | 4% | 4% | 4% | 4% |
| Overall Trailing Drawdown | 6% | 6% | 6% | 6% | 6% |
| Available Leverage | Up to 1:100 | Up to 1:100 | Up to 1:100 | Up to 1:100 | Up to 1:100 |
| Refundable Fee | 107$ | 207$ | 307$ | 507$ | 1007$ |
The One-Step Evaluation Challenge account necessitates traders to reach a profit target of 10% while ensuring they do not exceed the 4% maximum daily loss and 6% maximum trailing loss rules. These rules remain consistent when transitioning into funded status.
Traders are granted an unlimited timeframe for trading within this account. During this period, the sole requirement is to achieve the profit target, and there are no minimum trading day requirements.
Upon successful completion of the One-Step Evaluation Challenge, traders attain a funded account, where there are no specific profit targets. The primary requirement is to adhere to the loss limit rules.
Your initial profit split will be 80% based on the profits you generated, starting 30 calendar days after your first position was placed in your funded account. Subsequent payouts are scheduled on a weekly basis. The One-Step Evaluation accounts also feature a scaling plan.
To qualify for the scaling plan, you need to reach a profit target of 12% or more within a three-month period, entitling you to an account increase of 30% of the original account balance. It's quite an enticing offer.
The trading instruments available for One-Step Evaluation accounts encompass forex pairs, commodities, indices, and cryptocurrencies.
When considering the evaluation accounts, there are some general rules that all traders are required to follow, including meeting the profit targets during the evaluation stages, adhering to the maximum daily and maximum trailing rules, and managing third-party copy trading risk and third-party EA risk.
What Sets My Flash Funding Apart?
What sets My Flash Funding apart from other proprietary firms in the field? The key differentiator lies in the fact that they offer two distinct funding programs, namely the One-Step and Two-Step Evaluation.
These options cater to a wide range of traders, making it highly inclusive. Moreover, My Flash Funding prides itself on offering straightforward and relaxed trading rules. You can hold trades overnight, over weekends, and even engage in news trading. There are no restrictions on lot sizes or your preferred trading style.
One notable aspect is their remarkably low profit targets, some of the most lenient in the industry. These targets come with minimal constraints, and that's not an exaggeration. With unlimited time for your evaluations and programs, scaling plans that enable substantial capital growth, weekly payouts, and rapid funding, there's a lot to appreciate about My Flash Funding.
It's worth noting that they have been diligently working on their platform for a few years. This dedication and careful curation of their offerings instill confidence, and it's no surprise that they've achieved such rapid success since their inception.
Payment Proof
Speaking of payment proof, it's worth noting that My Flash Funding was officially incorporated just this August. While you can secure funding through their One-Step and Two-Step evaluations, there isn't currently any available information regarding payout proof from their traders.
We are committed to keeping the payment proof section updated as traders successfully attain payouts. In the meantime, there's already evidence of the first traders receiving funding from My Flash Funding. Don't hesitate to join their Discord community to stay in touch and remain informed as they continue to make progress.
Brokerage and Trading Instruments
Turning our attention to the brokerage aspect, My Flash Funding operates with ThinkMarkets as its broker. Traders are given the flexibility to trade using MetaTrader 4 and MetaTrader 5, in addition to their in-house developed platform, ThinkTrader.
As for the trading instruments, as mentioned earlier, you have forex pairs with a leverage of 1:100, commodities with a leverage of 1:20, indices with a leverage of 1:10, and cryptocurrencies with a leverage of 1:2. It's important to take note of the commission structure, which stands at $7 per round lot for all trading instruments.
Education and Support
When it comes to education and support for traders, we often like to explore what proprietary firms are offering to traders and those interested in their platform. As My Flash Funding is relatively new, they haven't had the opportunity to provide an extensive amount of educational content on their website just yet.
However, they do have an impressive FAQ section in place and offer traders access to a well-structured dashboard, which we've examined. While educational content may be limited at this stage, it's safe to assume that they will continue to develop and expand in this regard as they progress.
On the whole, based on our review of the website, it appears to be a fantastic platform.
Trader Reviews
Based on our observations so far, My Flash Funding is undoubtedly making a significant impact in the industry. Now, let's explore what other traders have to say about My Flash Funding.
On Trustpilot, we checked for external perspectives on My Flash Funding. Given that they haven't been around for an extended period, there aren't a large number of reviews. However, the reviews that have surfaced are overwhelmingly positive, with a median score of 4.7 at the time of this writing.
Overall, the sentiment is highly favorable. Traders appear to be content with the proprietary firm, particularly appreciating the support system in place. A robust support system is always a good sign. In summary, we are impressed by what they are accomplishing, and their presence adds credibility to the platform.
We recommend doing your own due diligence and exploring further. The more we delve into it, the more we see My Flash Funding poised for rapid growth, thanks to their outstanding performance.
Conclusion
In conclusion, in our opinion, My Flash Funding is set to be a fantastic proprietary trading firm for the foreseeable future. They cater to traders with varying abilities, experiences, and styles, offering highly flexible trading rules. We wholeheartedly recommend My Flash Funding to traders seeking a legitimate proprietary firm with excellent trading rules and objectives.
They provide favorable conditions for a diverse range of individuals with unique trading strategies. After considering everything that My Flash Funding has to offer, it's clear that they are one of the proprietary trading firms within the industry with a promising future.
That concludes our article about My Flash Funding. We hope you found it both enjoyable and informative.
Take care in the meantime, and we'll see you soon in the next article.