FAQ

Frequently Asked Questions

For more extensive and exclusive information, kindly visit our Support knowledgebase.

  • How do I know the accounts are real?

    Our accounts are held by an STP broker. They clearly differentiate between live and demo platforms. All our accounts connect to their live platform. We do not offer demo accounts.

  • Are you regulated by MiFID?

    We are NOT brokers and we do not hold clients’ money or trade for the public, hence we do not require MiFID regulation. All our traders' funded accounts are held by our regulated broker.

  • What are your spreads?

    The spread is the difference between buy and sell price for a currency pair. Our spreads include all commissions. As our spreads are variable, the size of this difference will depend on the specific pair and time of day as well as market volatility. This variable is set by our broker and is much better than what retail traders typically get from their brokers and is in line with professional traders expectations. EURUSD for example is around 1.2 pips during the normal European trading session.

  • What type of account will I be trading on?

    You will be trading on a live spot STP FX account with a regulated broker chosen by us.

  • What are your trading terms and conditions?

    Please visit our Terms & Condition to read more about our Trading Rules and Guidelines.

  • What is the maximum risk per trade?

    The trading guidelines are designed to have minimal restrictions on a trading strategy. Our platform is dependent on our risk management models and the few guidelines we do impose are a result of this function. There are no minimum or maximum limits for the number of trades or loss per trade. As stated before, the only limit is a total drawdown limit of 12%.

  • Do I need to provide documents before joining?

    We would need documents that certify the following details:
    1. Full name
    2. Proof of address
    3. Proof of ID (government issued id card)
    4. Phone Number
    5. Email address which will be associated with your trading account
    6. A live verification video may be requested in certain situations

  • How is myFXindex better than other prop firms such as FTMO? I'm deciding which platform is good for me

    With myFXindex you simply pay and then trade, there are no simulations or demos or trading limits or tests, trials, combines or any other confusing ways of messing around. Try it for yourself with our basic subscription - you can upgrade at any time and you can even receive a refund if it's not what we say.

  • Why 45days subscription, I would rather pay a one off fee as it would be cheaper?

    A one-off fee that buys you a single chance on a demo account to get funded is more suited for beginners. Our subscription to a funded account means that there are no time constraints or challenges or games. That is the whole idea of the subscription, you can take your time to reach the targets.

    After increasing your profit by 15% profit, you will be a myFXindex Fund Executive Trader with no monthly subscriptions, no trading restrictions and no minimum withdrawal targets. This beats a challenge/combine/game where you must make 10% twice in 2 consecutive months on a demo where you are forced to trade to receive a funded account.

    Why waste time on a demo? With our funded accounts you can start handling real money and withdraw real profits from day 1. This is the only way to actually trade! The market cannot be forced to produce returns on demand, therefore it's unrealistic to expect that a one-off fee will magically lead to 2 perfect months followed by a refund of the fee. Indeed, all those passing the trials and challenges and combines at the paper trading firms do so after several attempts. It also says in their small print that even if you pass, they can refund the one-off fee and ask you to do the challenge again.

  • Do you have a demo account?

    No, we do not offer demo account, we provide fully funded real accounts only.

  • How long does it take for my account to be set up?

    We will normally complete the process of creating and funding your account within 3/4 hours assuming all required documentation are provided when requested. Verification and funding are completed between 9am and 5pm GMT, Monday to Friday.

  • What trading platform do you use?

    We make use of industry standard Meta Trader 4 (MT4) & Meta Trader 5 (MT5). Your choice of trading platform can be selected during onboarding stage via our traders portal.

  • What happens once I have made my payment?

    Once you have made payment for your subscription, we will begin the process to setup up your trading account. Once you are verified by our compliance executive, we will then open and fund your trading account.

  • Why can I not pay a one off fee and start with a demo?

    Starting with a one-off fee demo challenge is ok for some beginners. However, as the one-off fee has to be paid each time you take the challenge it can be an expensive option. With our simple 45days charge you can get paid each week without having to pass challenges. And once you achieve myFXindex Fund Executive Trader status you no longer pay the subscription fee.

  • Why isn’t there any trader track record verification?

    The actual trading data generated by each trader replaces any past results and produces better behavioral models. The better our models, the more we are able to manage risk and increase funds for promoted traders. Promoted traders in turn generate better returns alongside our AI trading. Therefore the only verification or qualification needed is the trader’s own strategy. Every trader regardless of background or historical results has an equal chance of competing for promotion and increased funding.

  • Do you have any country restrictions?

    We do not place restrictions on traders geographically. We have traders from every continent. It is up to the trader to make sure of compliance with local regulations.

  • How often do traders make withdrawals?

    This solely depends on the volatility of the market. We have weeks & months where a high percentage of our traders hit withdrawal targets. We never have months without withdrawals.

  • Can I withdraw all my profits?

    You may withdraw all your profits in incremental blocks of 4%. Therefore if you realised a 24% profit , you could immediately withdraw 4% x 6 = 24%.

  • Can you explain your fast payout solution?

    All payouts are vetted automatically through the use of advance systematic algorithms, authenticated through our reserved wallet, hence all payouts with crypto currency mode are instant & automated, except bank transfers which may take up to 24/48 hours to be fulfilled via our third party company.

  • Can I make money trading with myFXindex?

    Over each accounting period, 42% of our traders make profits - but this depends on their strategy and ability. The myFXindex project encourages traders to develop strategies that rely less on luck and more on long-term positioning.

  • What is the most beneficial part of trading with myFXindex?

    The myFXindex project is unique in that it allows any trader with any experience to compete for institutional style funding. We allow the trader to do this for a fee that is vastly lower than the average total cost of using ones own funds at a retail broker to create a verified track record. Simply put, we offer the absolutely lowest costing real trading platform especially for the developing trader with profit potential.

  • Why do you charge a fee for me to trade?

    The subscription fee is a cutting-edge innovation created by myFXindex. It is designed to allow the maximum number of participants to compete with live accounts for increasing funding. The amount of the subscription is designed to offer fairer value than using a brokerage to try and increase account size or to create a verified track record attractive to financial backers.

  • Can traders hold positions over weekends?

    Only promoted traders "myFXindex Fund Executive Trader" and indexLOCK traders may hold positions over weekends. Please see our terms and conditions for full details.

  • Can you show me that your traders get withdrawals?

    Ask our Traders, they will be more than happy to show you in our Traders hub community. Also you can visit withdrawal proofs section on the website for more.

  • Can I come into your office to see that you're real?

    Even though we do have office in Liptovsky, Slovakia, we run all our operations via a virtual office. So you can join our socials, myFXindex Traders Hub Community, send us a message via the traders portal or reach out to us via our socials. .

  • How does your withdrawal process work?

    At any time an account has at least 4% in profit, a request for withdrawal can be submitted. The 4% amount will be removed automatically from the trading account. An automated risk check will be performed in order though our advance risk authentication AI to approve or deny the request. If the withdrawal is approved, then the Trader’s 60% profit share will be deposited immediately into their myFXindex Traders Portal Wallet. The Trader can submit their request for payout via Traders Portal and they would receive their profit share immediately if payment mode is cryptocurrency or within 1/2 business days if it's international bank transfer.

  • Can I receive dollars or a local currency when I withdraw?

    All account are in US Dollars, however, we send your profit share in USDT. The amount that you receive will depend on your local exchange rate at the receiving institution. We have no control over this rate.

  • How is it possible that you can fund so many losing traders and stay in business - isn’t it too good to be true?

    myFXindex project relies on the trading data from a wide range of traders with different approaches, strategies and ability. This data drives our risk management and automated trading strategies. The more trader data we have, the better our behavioral models, the more we are able to manage risk and the more traders get promoted to provide better returns alongside our AI. Our proprietary AI underpins the whole platform and is the game-changer.

  • How does myFXindex make money?

    myFXindex makes money by operating a risk and funding matrix. The majority of traders are at the bottom of the matrix and receive the least funds and generate the most behavioral data. At the other end of the matrix are the fewest traders and our behavioral AI which receive the most funds.

  • The trading guidelines are too restrictive for retail traders. It’s hard to get rich quick under such restrictive conditions.

    myFXindex project is designed to discover and promote professional risk managers. Those traders that get promoted and become myFXindex Fund Executive Trader by definition are the best at profiting in a culture of low leverage, low drawdowns and consistent account growth. Our variables are set so that only the type of traders that are highly valued by our investors will progress to full fund manager status.

For more extensive and exclusive information, kindly visit our Support knowledgebase.


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