My Forex Funds initially planned UPDATES are rescheduled!
My Forex Funds initially planned UPDATES are rescheduled!
Here are the Highlights of the article “My Forex Funds Updates on Pricing and CFD Leverage!”:
My Forex Funds has recently announced the introduction of an unlimited trading days period for both phases of their evaluation, drawing an overwhelming response from the market. This development, unveiled on July 13, 2023, marks a significant milestone for the prop firm. It seeks to bolster trader confidence and provide an even more favorable trading environment. As part of the plan, My Forex Funds initially planned to implement new updates to pricing and leverage on August 1st. However, in response to market dynamics and the desire for further evaluation, the price change has now been rescheduled. It will take effect on the 1st of September.
Despite this postponement, traders should know that the CFD leverage was modified to 1:50 on all evaluation accounts starting from August 1st. This decision was driven by My Forex Funds’ commitment to lower traders’ risk and increase their longevity in the market. The firm identified that over 50% of trader losses stemmed from overleveraged CFD trades, particularly concerning US indices.
By implementing this leverage change, My Forex Funds aims to create a more sustainable trading environment for their valued partners and ensure the proper matching of order flow at the liquidity level. They believe this modification will benefit all traders and foster a more stable and profitable trading experience.
My Forex Funds remain dedicated to monitoring and assessing the impact of these adjustments. They promise to provide regular updates and data points based on traders’ performance and experiences. This is to maintain transparency and open communication with their community.
Traders are encouraged to adapt their strategies. Especially those with open positions, as the CFD leverage change took effect on August 1st. The support team can address any questions or concerns during this transition.
My Forex Funds continues to uphold its commitment to creating a supportive and conducive environment for profitable and successful trading. The firm’s unlimited trading days offer, and ongoing updates demonstrate its dedication to innovation and its mission to enhance traders’ experiences.
My Forex Funds Review is here.
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