MyFundedFX Reverses 50% Consistency Rule After Trader Backlash

MyFundedFX, a US-based prop trading firm, has retracted its recently implemented 50% consistency rule following substantial opposition from its client base. The rule, introduced on July 3, 2024, was designed to limit the percentage of profits a trader could earn from a single day to 50% during the funded stage. It aimed to discourage high-risk trading strategies and promote more consistent trading over multiple days.

However, the new rule faced strong criticism from traders, who argued that it unfairly restricted certain trading styles and hindered their ability to capitalize on market opportunities. The backlash led to a swift decision by MyFundedFX to reverse the rule, as announced by CEO Matthew Leech.

In his statement, Leech acknowledged the feedback and frustrations from the trading community, noting that the rule limited specific trading styles and did not align well with trader needs. The reversal was implemented with immediate effect, and traders were instructed to close all open positions by 3:00 PM CST to facilitate the change. Trading is expected to resume as usual from the market open on Sunday evening.