FAQ

MyChineseFX FAQ

Frequently Asked Questions

Everything you need to know about the product and billing.

About MyChineseFX

What is MyChineseFX?

MyChineseFX is a proprietary trading platform and funding program that helps traders develop their skills and secure funding for trading in financial markets, including forex, binary options, and CFDs.

How does MyChineseFX work?

We offer evaluation programs designed to assess your trading abilities and provide capital once you pass. Our funding models include Instant Funding, 2-Step, and 3-Step programs. Traders who meet the program requirements are granted access to funded accounts.

What markets can I trade on MyChineseFX?

Our platform supports trading in forex, binary options, and contracts for difference (CFDs) on various financial instruments, including currencies, commodities, and indices.

Who can apply to MyChineseFX?

MyChineseFX is open to traders worldwide. Anyone with trading experience and the desire to grow their trading skills can apply, provided they meet our eligibility requirements.

What is the evaluation process like on MyChineseFX?

The evaluation process is a structured assessment to test your trading skills. We offer instant funding, 2-Step and 3-Step evaluation models, each with specific rules and goals that must be met before funding is provided.

How long does the evaluation process take?

The evaluation timeline depends on the program you select and how quickly you achieve the specified goals. Generally, there is no strict time limit, allowing traders to progress at their own pace.

Can I retake the evaluation if I don’t pass?

Yes, traders can retake the evaluation process. Details on retake fees and conditions can be found within each program description.

What are the objectives of the evaluation?

The evaluation objectives include meeting specific profit targets, adhering to drawdown limits, and following other trading rules. The full requirements are outlined in each program. These rules aim to filter the talented traders for us to find those most deserving of prop funding.

What funding programs does MyChineseFX offer?

We offer three funding programs to suit different trading styles and experience levels:
‍Instant Funding – immediate access to capital upon enrollment.
‍2-Step Program – two stages of evaluation with achievable profit and risk targets.
‍3-Step Program – an additional evaluation stage for traders seeking a budget friendly solution.

What is the difference between the Instant Funding, 2-Step, and 3-Step programs?

Instant Funding provides traders with immediate access to capital, skipping the evaluation process.
‍2-Step Program requires traders to meet targets in two progressive stages before receiving funding.
‍3-Step Program includes a third evaluation phase for a more comprehensive skill assessment, giving traders the cheapest option we have available for funding.

Can I switch between programs?

Yes, you can switch between programs, although you will need to purchase the new selected program and fees will apply.

Are there any trading restrictions?

Yes, we require traders to follow rules such as daily loss limits, maximum drawdown, and profit targets. These vary by program and are detailed within each program’s guidelines.

What happens if I violate a rule?

A rule violation will result in disqualification from the program and you will need to retake the evaluation. Check the specific program rules for more details on penalties.

Are there time limits in the evaluation process?

None of our programs enforce time limits, allowing you to trade at your own pace. However, some rules may vary by program, so please refer to your program’s details for specifics.

Capital Allocation?

Traders receive access to a funded account immediately upon enrolling in the Instant Funding program. No evaluation is required. We have 25k up to 500k available to enroll.

Daily And Maximum Loss Limit?

We have a 4% daily loss limit, and 5% max loss limit on the 1-step funding account.

Profit Target?

We have a 10% profit target. Once you hit 10% on your account you are eligible to move to the funded stage.

Profit Split?

The profit split on these account types are 50/50 for month 1, 70/30 for month 2, and 80/20 for month 3. The profit splits then remain 80% in favour to the trader and 20% to MyChineseFX.

Payout Cycle?

The payout cycle is DAILY. This means you can pass our evaluation and be paid that very same day.

Method For Withdrawal?

We have 2 methods available for withdrawal.
1 - Bank Transfer
2 - 50+ Crypto Currencies

Are There Minimum And Maximum Trading Days?

No there are no minimum and no maximum trading days. You can pass the evaluation in as little or as long a time as you require. Time constraints or limitations we do not believe assist the trader in performance.

Do I Require A Stop Loss?

No you do not require a stop loss. We recommend you utilise the stop loss feature but it is not a requirement.

Can I Trade The News And Copy Trade?

Yes you can trade the news, and there are no restrictions on copy trading.

Not Allowed Trading Practices ?

We do not allow the use of hedging between accounts. This could include but is not limited to buying on one account and selling on another account to bypass the evaluation.

Account Leverage ?

Our account have 1:100 trading leverage.

Commissions And Spread ?

We have $3 per lot commission and low trading spreads.

Capital Allocation?

Traders can be funded $25k-$500k in capital.

Daily And Maximum Loss Limit?

We have a 4% daily loss limit, and 8% max loss limit on the 2-step funding account.

Profit Target?

We have a 8% profit target. Once you hit 8% on your account you are eligible to move to stage 2, which then is a 5% profit target to reach the funded stage.

Profit Split?

The profit split on the 2-step trading challenge is 80% to the trader and 20% to MyChineseFX.

Payout Cycle?

The payout cycle is DAILY. This means you can pass our evaluation and be paid that very same day.

Method For Withdrawal?

We have 2 methods available for withdrawal.
1 - Bank Transfer
2 - 50+ Crypto Currencies

Are There Minimum And Maximum Trading Days?

Yes we have a maximum of 30 calendar days for stage 1 of the evaluation. And 60 max calendar days for stage 2.

Do I Require A Stop Loss?

No you do not require a stop loss. We recommend you utilise the stop loss feature but it is not a requirement.

Can I Trade The News And Copy Trade?

Yes you can trade the news, and there are no restrictions on copy trading.

Not Allowed Trading Practices ?

We do not allow the use of hedging between accounts. This could include but is not limited to buying on one account and selling on another account to bypass the evaluation.

Account Leverage ?

Our account have 1:100 trading leverage.

Commissions And Spread ?

We have $3 per lot commission and low trading spreads.

Capital Allocation?

Traders can be funded $25k-$200k in capital.

Daily And Maximum Loss Limit?

We have a 4% daily loss limit, and 8% max loss limit on the 2-step funding account.

Profit Target?

Stage 1 - 10% profit target. Once you hit 10% on your account you are eligible to move to stage 2. Stage 2 - 5% profit target, once you hit 5% profit target you then move to stage 3. Stage 3 - 5% profit target, once you hit 5% profit target you then reach the funded stage.

Profit Split?

The profit split on the 3-step trading challenge is 80% to the trader and 20% to MyChineseFX.

Payout Cycle?

The payout cycle is DAILY. This means you can pass our evaluation and be paid that very same day.

Method For Withdrawal?

We have 2 methods available for withdrawal.
1 - Bank Transfer
2 - 50+ Crypto Currencies

Are There Minimum And Maximum Trading Days?

Yes we have a maximum of 30 calendar days for stage 1 of the evaluation. And 60 max calendar days for stage 2, and 60 max calendar days for stage 3.

Do I Require A Stop Loss?

No you do not require a stop loss. We recommend you utilise the stop loss feature but it is not a requirement.

Can I Trade The News And Copy Trade?

Yes you can trade the news, and there are no restrictions on copy trading.

Not Allowed Trading Practices ?

We do not allow the use of hedging between accounts. This could include but is not limited to buying on one account and selling on another account to bypass the evaluation.

Account Leverage ?

Our account have 1:100 trading leverage.

Commissions And Spread ?

We have $3 per lot commission and low trading spreads.

What are the payment methods accepted?

We accept a variety of payment options, including credit/debit cards and over 500+ cryptocurrencies. Please check our payment page for all available methods.

How do I manage my subscription or billing?

You can manage your billing and program subscriptions directly through your MyChineseFX account dashboard.

Do I have to pay my own taxes?

Yes we are not responsible for paying our traders taxes, we suggest you seek accounting advice upon receiving profits as this will vary between different countries.

What if I don't receive my order?

If you have an issue with your order, please visit our trading dashboard submit a ticket and our support team will assist you. You can find further guidance via discord, telegram and email.

What is your refund policy?

Due to the nature of our trading products we have a no refund policy.

What trading platforms does MyChineseFX offer?

We offer MT4 and MT5, with desktop, mobile and web-trading platforms. We also offer our own proprietary trading platform with unique features such as trading for binary options and fx, crypto, indices and commodities.

What is unique about the MyChineseFX platform?

Our platform enables instant swapping between binary options and CFD trading, giving traders flexibility to trade multiple instruments seamlessly within a single interface.

Can I use external trading tools with MyChineseFX?

Yes, MyChineseFX allows for integration with certain third-party tools. Please contact support for more information on compatible tools.

Can I use EA's on MT4/MT5?

Yes, MyChineseFX allows you to use MT4 and MT5 Expert Advisors on your trading account.

Can I use EA's on the MyChineseFX platform?

Yes, MyChineseFX platform has its own indicators and expert advisor area where you can buy/sell and utilise free products.

What happens after I receive my profits?

Once you receive your trading profits you can continue to trade the account. You can use your profits as you desire, continue trading the account for further withdrawals.

How quickly are payouts processed?

Account withdrawals are first verified, then payouts are processed within 24 hours.

Is there customer support available?

Yes, our support team is available to assist you. You can reach out via our dashboards ticket system, email, discord or telegram.

What happens if I lose my account?

If an account is lost due to rule violations or excessive losses, traders may reapply for the program.