In this article, we’ll be comparing two prop firms, My Forex Funds and TradeDay.

Let’s look at all details.

Prop Firms General Details

In this first table, we compare the year where each prop firm was founded, where their offices are located, and how much balance you can get to trade after scaling (when applicable).

Both, My Forex Funds and TradeDay, were founded in the same year, 2020. They are both 4 years old.

Instruments

Here’s a list of all instruments supported by My Forex Funds and TradeDay. I divided the list into two parts to show CFDs products and Futures products.

Funding Program Types

Prop firms have different program types to achieve a funded account.

Here’s the resume and comparison of the My Forex Funds and TradeDay different program types.

Instant Funding Comparison

Instant funding programs give you access to a funded account immediately without needing to pass any challenge. This is the fastest way to get funded.

One-Step Program Comparison

One-Step programs are programs that require a single challenge to be passed. As soon as you pass the challenge, achieving the required targets without breaking any rules, you’ll be rewarded with a funded account to trade.

Here’s the comparison table for the My Forex Funds and TradeDay prop firms.

Two-Step Program Comparison

Two-Step programs require that you pass two different challenges before getting funded. Usually, each phase or each challenge has different targets and rules.

Here’s the comparison for My Forex Funds and TradeDay.

Trustpilot Reviews

Trustpilot is a reputable platform when it comes to reviewing products and services.

Here is the rating that My Forex Funds and TradeDay have on Trustpilot.

Free Stuff

Being able to test a prop firm before we commit and purchase is a good thing. We can get used to their trading platform, and understand spreads, commissions, and rules.

Some proprietary firms also offer free repeats in some circumstances, and also free resets, to be able to reset our account before the challenge period is over, in case things are not going as we wanted.

Here’s the comparison for My Forex Funds and TradeDay prop firms.

Trading Styles

Some prop firms may be better for you than others depending on your trading style. In this table, you can see the comparison between the trading styles allowed by My Forex Funds and TradeDay prop firms.

Trading Hours

Although most proprietary firms are more oriented to day trading, some allow holding positions overnight and even on weekends.

Here’s what is allowed by My Forex Funds and TradeDay.

Trading Platforms

We all like to use the trading platform that we are used to. For this reason, prop firms support different trading platforms.

Here’s an extensive list of the platforms supported by My Forex Funds and TradeDay.

Leverage

The leverage provided by the prop firm may be an important factor when choosing it. This is especially true for day trading or scalping, where the position size is usually significantly bigger than for swing trading.

Here’s a comparison of the leverage provided by My Forex Funds and TradeDay prop firms.

Payments

Proprietary firms have several ways of payment.

Here’s a table with the comparison between the payment methods accepted by My Forex Funds and TradeDay.

More Resources

• Compare any prop trading firm with our prop firm comparison tool
• List of the best prop trading firms
• What is prop trading?