1. What is MyPowerFunds?

MyPowerFunds is a proprietary trading firm that provides traders the opportunity to trade with our capital. We offer a variety of accounts and challenges, allowing traders to prove their skills and earn profits without risking personal funds.

2. How do I get started?

To get started, register on our website, choose your preferred account type, and enroll in the challenge that best fits your trading style.

3. What types of accounts do you offer?

We offer several types of accounts:

 Standard Accounts: These involve a two-phase challenge where traders must meet specific profit and risk management targets.

 Swing Accounts: These accounts offer more flexibility for traders who hold positions longer, with slightly adjusted rules.

 One-Phase Challenge Accounts: In this option, you can qualify for funding by passing a single challenge phase, making the process quicker.

 Bot Challenge Pass: This option is for traders using algorithmic or automated trading systems.

4. What markets can I trade?

You can trade across various markets, including forex, indices, major cryptos and commodities. We provide access to popular trading instruments through our platform.

5. How does the evaluation process work?

For our Standard Accounts and Swing Accounts the evaluation consists of two phases:

 Phase 1: Achieve a profit target while adhering to our risk management rules.

 Phase 2: Demonstrate consistent trading by reaching a lower profit target with the same risk parameters. Once you pass, you're funded.

For the One-Phase Challenge, you only need to pass a single phase with a defined profit target.

6. Can I hold trades overnight or over the weekend?

If you choose a Swing Account, you are allowed to hold trades overnight and over the weekend, giving you flexibility in your trading strategy.

7. What is the Bot Challenge Pass?

The Bot Challenge Pass allows traders using algorithmic trading systems (bots) to qualify for funding. You can use your own trading algorithm to pass our challenge.

8. Can I use HFT bots for the Bot Challenge Pass?

We do not allow High-Frequency Trading (HFT) bots for the Bot Challenge Pass. However, certain automated strategies are permitted, including Gap Trading, Hedging, Long/Short Arbitrage, Reverse Arbitrage, Tick Scalping, and Server Execution. Ensure your bot complies with our guidelines for a smooth evaluation process.

9. Can I continue using bots after passing the Bot Challenge and getting funded?

No, once you pass the Bot Challenge and receive a funded account, it is prohibited to use any type of bots. You must trade manually on your own after becoming funded. It’s considered a violation of rules.

10. Are taxes applicable to my trading profits?

Any profits earned from trading with MyPowerFunds are subject to taxation based on the tax laws of your country of residence. MyPowerFunds does not withhold taxes on your behalf, so it’s important to consult with a tax professional to ensure you meet your local tax obligations.

11. How long does it take to process withdrawals?

After reviewing and approving your account, withdrawals are typically processed within 5 business days. We ensure timely handling of your request, but the exact time may vary depending on your payment provider or method.

12. How do profit splits work?

Once you are funded, you keep a significant portion of the profits, typically ranging from 60% to 85%, depending on your account type.

13. Does MyPowerFunds offer a free trial demo?

Yes, we offer a free trial demo up to 3 times, allowing traders to familiarize themselves with our platform and test their strategies. Free trials come with specific conditions, such as a set duration and predefined virtual capital, giving you the opportunity to experience the challenge environment before committing to the full evaluation.