Why is My “My Forex Funds” (MFF) Account Suspended?

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Have you received the dreaded “Suspended” notice on your My Forex Funds account? Perhaps it was the “Account Termination” email you received.

There are a few reasons why this occurs and if you are new to the industry, you may be a little confused as to what happened.

Whilst this guide is aimed at those at My Forex Funds, it may provide an insight into other prop firms as well. Let’s get started.

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1. You Broke the Daily Drawdown Rule.

On the evaluation and rapid accounts, My Forex Funds set a limit on how much you can lose in one day. It is important to remember a few key details:

  • The account balance AND equity will be counted when monitoring for a daily loss.
  • When rolling over to a new day, the new limit will be based on your equity not your balance.
  • The limit resets every day at 5.00 pm EST.
  • The current daily loss limit is available to view in the account dashboard.

If this makes sense to you, feel free to skip ahead to the second issue. If you are still confused however, I will outline some examples below.

Example A – No Breach

You begin the day with $100,000 and no open trades. Your daily loss limit is $95,000.

You make two profitable trades to bring your balance up to $103,000.

You then lose 3 trades in a row, in the same trading day and end the day on $96,000.

So long as your equity didn’t drop below $95,000 at any point, there will be no breach on the account – (go to bed and start again tomorrow).

Example B – Hard Breach (Balance)

You begin the day with $100,000 and no open trades. Your daily loss limit is $95,000.

You open a trade which turns negative and hits your stop loss at $4975 in loss.

Slippage occurs and the balance on your account falls to $94,985.

As your balance is now below the daily loss limit, this will be a hard breach and your account will be terminated.

Example C – Hard Breach (Equity, Same Day Trade)

You begin the day with $100,000 and no open trades. Your daily loss limit is $95,000.

You make a losing trade. The trade goes down to $6,000 loss and then comes back up to end as a winning trade at which point you close the trade profiting $2000.

Your new balance is $102,000.

This will be considered a breach and your account will be terminated.

Even though the trade ended as a winning trade, the equity fell below the daily loss limit.

Example D – Hard Breach (Equity, Multi-Day Trade)

You begin day 1 with $100,000 and no open trades. Your daily loss limit is $95,000.

You open a trade which you plan to leave open a few days. At the end of day 1 (5.00 pm EST) the trade is in $8000 profit.

Your balance on day 2 remains at $100,000. Your equity is $108,000. Your daily loss limit is now $102,600.

The trade comes down to only $1000 profit. Your equity is now $101,000.

This will be considered a hard breach and your account will be terminated.

Even though the trade was never in a loss, on day two it lost more than 5% of equity.

2. You Broke the Overall Drawdown Rule.

The overall drawdown rule is much simpler than the daily drawdown rule. This is a set amount based on the initial balance of the challenge/funded account.

The current max overall drawdown at My Forex Funds is 12% for evaluation accounts and 5% for accelerated.

Your account will be terminated if either the balance OR equity falls below this figure.

The overall loss limit is displayed on the account dashboard. I will include a chart below as well.

Account Size Evaluation/RapidAccelerated

3. Your Account Was Suspended for Copy Trading.

With such a large number of traders, managing a large amount of capital, prop firms need to manage the risk. One way My Forex Funds does this is by not allowing many traders to use identical signals/ make identical trades.

If you have try using a signal service, there is a good chance that many identical trades will enter the MFF servers at the same time. This is against the rules, under copy trading.

This is easy for MFF to identify and will result in the account being terminated.

4. You Used an Account Management Service.

My Forex Funds make it clear they want to evaluate YOUR trading. They do not allow you to use any type of account management service.

There are multiple systems in place to find accounts using this tactic. If caught, your account will be terminated.

What’s more, these services rarely work anyway and typically rely on impressing you with fake promises, fake screenshots and fake testimonials. Don’t risk it!

Whilst third-party expert advisors are allowed, precautions must be taking if you want to use them on your account.

This falls back down to a risk management issue for My Forex Funds. They don’t want 100 traders making identical trades with the same EA.

If you plan on using a third-party EA, make sure you have customized the settings well enough to ensure that no-one else using the EA will make identical trades.

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6. You Got Caught Cheating.

You won’t receive much sympathy from the team at MFF for this one. There are a number of ways you can hypothetically cheat the system. Most revolve around taking advantage of the inefficiencies of the Metatrader platform.

Whilst you may feel like a king when you’re rolling in profits for a while, these types of systems are very easy to identify. My Forex Funds (and most other firms) have advanced automatic programs to find traders using these tactics.

Anyone caught cheating will have their account terminated immediately.

7. My Forex Funds Made a Mistake

From time to time, MFF may make mistakes. Or the system may glitch. If you are confident that you haven’t broken the rules, reach out to the My Forex Funds team and ask for a manual review.

They are usually more than happy to explore the account and double check that the automated systems are operating corrected. If they agree it’s a mistake, they will reinstate your account.

Can I get an Account Reset to Continue Trading?

Under certain circumstances, when an account has been disabled, you may be entitled to a free retry. You will be entitled to a free retry if you meet the following:

  • The account is an evaluation challenge
  • The time limit has been reached
  • The account is not in drawdown

You can request a retry by reaching out to the support team.

For a full list of rules please check the My Forex Funds website by clicking here.

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