MyFundedFX vs. PaidPex: Which Prop Firm Should You Choose?

1. Evaluation Process: Flexibility vs. Restrictions

MyFundedFX:

  • Profit Targets: Requires traders to achieve a 10% profit in their one-step challenge, or 8% and 5% in the two-step challenge.
  • Risk Management Rules: Enforces strict daily loss (4-5%) and overall drawdown (6-8%) limits.
  • Inactivity Policy: Accounts are closed after 30 consecutive days without trading.
  • Why It’s Restrictive: The tight risk limits and inactivity penalties force traders into a high-pressure trading environment, limiting flexibility.

PaidPex:

  • Profit Targets: A more reasonable 6% profit target in a single-phase challenge.
  • Risk Management Rules: Generous daily loss limit (5%) and no trailing drawdown on unrealized profits.
  • Inactivity Policy: No penalties for inactivity, allowing traders to wait for ideal market conditions.
  • Why It’s Better: PaidPex offers a more forgiving evaluation process, providing traders with the flexibility they need to succeed as a prop trading firm.

Winner: PaidPex. Its simpler and more flexible evaluation rules make it easier for traders to meet targets without unnecessary stress.


2. Profit Splits: Keeping More of Your Earnings

MyFundedFX:

  • Profit Split: Traders start with a 75/25 split (trader/firm), which is standard but not exceptional.
  • Improvement Potential: No clear path to increasing the profit split.

PaidPex:

  • Profit Split: Starts at an impressive 85/15 split, giving traders a much larger share of their profits from the outset.
  • Improvement Potential: Traders can earn up to a 95/5 split with consistent performance, providing unparalleled earning potential.

Winner: PaidPex. The higher starting profit split and transparent path to improvement make it the clear choice for traders looking to maximize their earnings.


3. Payout Process: Speed and Reliability

MyFundedFX:

  • Payout Schedule: Payouts are processed monthly, with some reports of delays.
  • Processing Time: Payments can take several days to a week, creating frustration for traders needing faster access to their profits.

PaidPex:

  • Payout Schedule: Offers payouts within 18 hours, the fastest in the industry.
  • Payout Guarantee: If payments are delayed, PaidPex provides $1,000 as compensation, showcasing their commitment to reliability.

Winner: PaidPex. The ultra-fast payout process and payout guarantee ensure traders receive their earnings promptly and without hassle.


4. Trading Instruments: Limited vs. Diverse

MyFundedFX:

  • Available Instruments: Forex, indices, commodities, and some cryptocurrencies.
  • Why It’s Limiting: While the offerings are decent, they lack the depth and variety needed for diverse trading strategies.

PaidPex:

  • Available Instruments: Over 250 instruments, including forex, indices, commodities, cryptocurrencies, and stocks.
  • Why It’s Better: PaidPex’s extensive instrument offerings allow traders to diversify their portfolios and capitalize on a wider range of market opportunities.

Winner: PaidPex. Its comprehensive selection of instruments accommodates a variety of trading styles and strategies.


5. Risk Management Rules: Flexible vs. Restrictive

MyFundedFX:

  • Trailing Drawdown: Applies to unrealized gains, penalizing traders for temporary pullbacks.
  • Daily Loss Limits: Tighter restrictions make it harder to recover from losing days.

PaidPex:

  • No Trailing Drawdown: Protects traders’ original capital without penalizing profitable trades that temporarily pull back.
  • Daily Loss Limits: Generous limits provide traders with room to adapt to market volatility.

Winner: PaidPex. Its trader-friendly risk management rules allow for greater flexibility and confidence in executing trades.


6. Technology and Trader Support

MyFundedFX:

  • Technology: Standard trading platforms with limited advanced features.
  • Customer Support: Mixed reviews, with reports of slow response times and generic answers.

PaidPex:

  • Technology: A state-of-the-art dashboard featuring AI-driven insights, real-time analytics, and premium trading tools.
  • Customer Support: 24/7 live support with quick, personalized responses to trader inquiries.

Winner: PaidPex. The superior technology and responsive support provide traders with the tools and assistance they need to succeed.


7. Costs and Fees: Transparency Matters

MyFundedFX:

  • Evaluation Fees: Non-refundable, requiring traders to pay the full fee for each retry.
  • Hidden Charges: Traders have reported unexpected fees for platform access or additional services.

PaidPex:

  • Evaluation Fees: Transparent pricing with no hidden charges.
  • Free Trials: Offers free trial accounts, allowing traders to test the platform before committing to the evaluation.

Winner: PaidPex. Its transparent pricing and free trial option demonstrate a commitment to trader trust and satisfaction.


8. Scaling Opportunities: Faster Growth with PaidPex

MyFundedFX:

  • Scaling Program: Accounts grow by 25% every three months, provided traders achieve a 12% profit within the period.
  • Why It’s Slow: The slow growth rate limits traders’ ability to manage larger capital quickly.

PaidPex:

  • Scaling Program: Provides rapid scaling opportunities, with the potential to manage up to $6 million in funding.
  • Why It’s Better: PaidPex’s scaling program rewards high-performing traders with faster access to increased capital.

Winner: PaidPex. Its faster scaling opportunities better support ambitious traders aiming to grow their accounts.


Final Verdict: Why PaidPex Outperforms MyFundedFX

While MyFundedFX offers a decent proprietary trading program, its restrictive rules, slow payouts, and limited instruments make it less appealing for serious traders. In contrast, PaidPex excels in every category, providing a trader-first experience with higher profit splits, faster payouts, better risk management, and advanced technology.

For traders seeking a modern, supportive, and transparent prop trading firm, PaidPex is the clear winner.

about The Firm ​

My Funded FX

MyFundedFX, founded in 2022 in Dallas, offers simulated accounts up to $600,000 through one- and two-step challenges. Traders use MT4 and MT5 to trade forex, commodities, indices, and crypto, with profit splits provided. Strict risk management rules and the use of simulated accounts may limit trading flexibility.

View More in My Funded FX

PaidPex

PaidPex is a UK based prop firm, offering traders up to $6 million in funding through single-phase challenges, with a 90% profit split and access to over 500 instruments, including stocks, crypto, forex, futures and metals. The firm guarantees payouts within 18 hours, with advanced tools like real-time analytics and AI-driven insights. PaidPex also features the $PAIDX token, providing additional trading benefits. Supported by $1 million in seed funding, the platform aims to provide a straightforward and efficient prop trading experience.

View More in PaidPex

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