MPFunds Review
MPFunds is a Singapore-based proprietary trading firm offering flexible trading challenges with unlimited trading periods, generous profit splits, and a supportive environment for traders to grow and succeed.
MPFunds Review
Summary
MPFunds, a proprietary trading firm based in Singapore, offers a distinctive approach that prioritizes trader consistency and flexibility. By launching a funded trader program, MPFunds aims to lower entry barriers for traders, particularly in the Asian market. The firm provides a platform where traders can showcase their skills through a structured evaluation process designed to identify and nurture trading talent.
The evaluation process is divided into two phases, each with specific profit targets and risk management rules, such as a maximum daily loss of 5% and a total drawdown limit of 10%. One of the standout features of MPFunds is its unlimited trading period during the evaluation phases. This approach allows traders to focus on achieving consistent results without the pressure of a strict timeline, which can often lead to rushed and poor trading decisions.
MPFunds also offers a generous profit-sharing model, where successful traders can earn up to 80% of the profits generated on their accounts. This is complemented by a refund policy that returns the registration fee upon the first payout, providing an added incentive for traders to succeed. Additionally, traders have the flexibility to trade various instruments with leverage options tailored to different asset classes, such as Forex, indices, and metals.
The firm’s commitment to trader support is evident through its educational resources and customer service. MPFunds provides a comprehensive knowledge base to help traders enhance their skills and navigate the challenges of the financial markets.
In the following sections, we’ll take a closer look at the specific programs, trading conditions, and features offered by Mpfunds. We’ll also discuss some potential drawbacks to consider before signing up.
MPFunds Review
Programs
MPFunds offers a couple of intriguing programs for traders eager to prove their skills and earn a share of the profits. Let’s break down the main programs they offer:
Standard Challenge
The Standard Challenge is a two-phase evaluation process that assesses a trader’s skills and consistency. In each phase, traders have unlimited time to reach specific profit targets while adhering to certain risk management rules, such as a maximum daily loss of 5% and a maximum total loss of 10%.
Phase 1 requires traders to achieve an 8% profit target, while Phase 2 has a 4% profit target. Throughout both phases, traders can enjoy flexible trading conditions, including the ability to trade during news events and hold positions over the weekend.
The Standard Challenge offers five account tiers, ranging from $10,000 to $200,000 in simulated trading capital. The registration fees for these tiers are as follows:
- Tier 1 ($10,000): $108
- Tier 2 ($25,000): $198
- Tier 3 ($50,000): $298
- Tier 4 ($100,000): $550
- Tier 5 ($200,000): $1,100
These registration fees are 120% refundable upon the first payout of the trader’s performance reward.
Swing Challenge
The Swing Challenge is tailored for traders who prefer a longer-term approach, allowing them to hold positions over the weekend without restrictions. Like the Standard Challenge, it consists of two phases with unlimited trading periods and the same profit targets of 8% for Phase 1 and 4% for Phase 2.
The Swing Challenge offers a lower leverage of up to 1:30, encouraging traders to implement robust risk management strategies. This program is ideal for those who want to trade without worrying about closing positions before the weekend or during high-impact news events.
The pricing for the Swing Challenge is similar to the Standard Challenge, with the same five account tiers and registration fees.
Both programs offer an attractive 80% profit split for successful traders, with payouts every seven business days.
MPFunds Review
Conditions
Drawdowns
MPFunds has set some clear rules around drawdowns to help manage risk. The Maximum Daily Loss is capped at 5%, which means you can’t lose more than 5% of your account equity in a single day. This limit resets every day at midnight UTC, so you get a fresh start each day. The Maximum Total Loss is 10% of your initial account balance, which is the most you can lose throughout the entire challenge. For example, if you start with a $100,000 account, your balance shouldn’t drop below $90,000 at any time during the challenge.
Trading Days
To complete the MPFunds Challenge, you need to trade for a minimum of five days. It’s important to note that trading days are counted only when you open a trade. So, if you open a trade on Monday and close it on Wednesday, it still counts as just one trading day since the trade was initiated on Monday.
Trading Strategies
MPFunds gives you a lot of freedom during the evaluation phases. You’re allowed to trade without restrictions, meaning you can hold positions over the weekend and trade during news releases. However, once you become an MPFunds Trader, you’ll need to close positions before the market closes for the weekend, and be cautious around news releases. Specifically, you can’t execute or close trades on the targeted instrument from two minutes before until two minutes after a news release.
Scaling Plan
MPFunds offers an attractive scaling plan for traders who consistently perform well. As you achieve a net profit of 10% or more, your account size can double, allowing you to manage more significant amounts of capital. The scaling plan enables your simulated trading capital to grow up to $1,000,000. This approach provides a clear path for growth and incentivizes traders to maintain high-performance levels.
Refund
One of the perks of trading with MPFunds is their refund policy. Once you make your first payout as an MPFunds Trader, they refund your registration fee, which is a nice bonus and adds an extra incentive to succeed.
MPFunds Review
Features
| Maximum capital | $200,000 |
| Profit split | Up to 80% |
| Scaling | Yes |
| News trading | No |
| Weekend trading | No |
| Automated trading | NYes |
| Free trial | No |
| Maximum leverage | 1:100 |
MPFunds offers a range of features designed to support and empower traders throughout their journey. These features aim to create an environment where traders can thrive and grow. Let’s take a closer look at what MPFunds brings to the table:
Platforms Offered
At present, MPFunds offers both cTrader and MT5 as their main trading platforms. cTrader is a popular multi-asset trading platform that provides a user-friendly interface and a wide range of advanced trading tools. It offers rich charting capabilities, advanced order types, level II pricing, and fast entry and execution speeds. Additionally, cTrader provides unique features like cTrader Copy, a versatile copy trading service, and cTrader Automate, which allows traders to create and run automated trading strategies.
On the other hand, MetaTrader 5 (MT5) is a powerful multi-asset platform that allows traders to access a wide range of financial markets, including stocks, futures, options, and bonds. MT5 can connect traders to over 80 exchanges worldwide, providing a comprehensive trading environment. The platform offers advanced technical analysis tools, a built-in economic calendar, and the ability to use expert advisors (EAs) for automated trading.
While both platforms offer advanced features, they have some key differences. cTrader is known for its modern and intuitive interface, making it easier for beginners to navigate. It also offers a more advanced charting package and a wider range of order types compared to MT5. On the other hand, MT5 provides access to a broader range of markets and exchanges, making it suitable for traders who want to diversify their portfolios.
Trader Dashboard
MPFunds provides a Trader Dashboard, which serves as a central hub for managing your trading activities. This dashboard allows you to access cTrader on various devices, including your computer, mobile, or via the web. It offers a user-friendly interface where you can track your performance, manage your account settings, and access trading tools that enhance your overall trading experience. The flexibility of the dashboard ensures that you can monitor and manage your trades from anywhere, at any time.
Community and Support
MPFunds offers a vibrant community through its Discord channel, which serves as a hub for traders to connect, share experiences, and support each other. It provides real-time communication and enhanced security features, transforming how traders interact. They also offer a comprehensive support system known as the 3Cs Approach, which stands for Coaching, Courses, and Counselling. This approach is designed to empower traders at all levels. The Coaching component provides personalized one-to-one sessions where experienced traders help assess trading journals and improve performance. Courses seasoned professionals create offer a solid foundation in trading basics and platform usage. For traders in higher tiers, Counselling sessions focus on emotional risk management and mental wellness, partnering with Annabelle Psychology. This well-rounded support system enhances trading skills and addresses the psychological aspects of trading.
Knowledge Base
MPFunds is committed to helping traders grow and succeed by offering various educational resources. They provide valuable information through their blog posts and other online content. For instance, they have articles like “Getting Started with Forex Trading: A Beginner’s Guide,” which covers market basics, analysis techniques, and how to start trading confidently. They also share insightful content on their LinkedIn page, such as lessons from traders’ experiences and the importance of emotional support. These resources are designed to help traders at various levels enhance their skills and stay informed about important aspects of trading.
MPFunds Review
Conclusion
MPFunds offers a fresh and flexible approach to prop trading, especially appealing to Asian traders. With unlimited trading periods during challenges, an 80% profit split, and a 120% registration fee refund, they provide attractive incentives. Their 3Cs support system—Coaching, Courses, and Counselling—demonstrates a commitment to trader development and mental wellness. Plus, their active Discord community fosters a collaborative environment. However, once you’re a funded trader, be mindful of tighter rules on weekend positions and news trading, particularly with the Standard account. Overall, MPFunds is a solid choice for those seeking a supportive trading environment, but always remember to trade responsibly and stay informed about the conditions.
MPFunds Review
