MPFunds is a leading modern proprietary trading firm based in Singapore that offers passionate and skilled traders the opportunity to access up to US$400K in trading capital through a unique 2-Phase Performance Challenge. As Asia's first modern prop firm, MPFunds is committed to empowering undercapitalized traders by providing them with the tools, support, and funding they need to succeed in the financial markets.
What is MPFunds?
| Detail | Description |
|---|---|
| CEO | Dean Wong (Wong Dai Kuan) |
| Contact Email | support@mpfunds.com |
| Business Hours | Mon – Thu, 10am – 6pm (GMT+8) |
| Challenge Format | 2-phase evaluation (Phase 1 and Phase 2) |
| Account Types | Standard Account, Swing Account |
| Profit Targets | Phase 1: 8%, Phase 2: 4% |
| Max Daily Loss | 5% of account balance |
| Max Total Loss | 10% of account balance |
| Leverage | Standard: Up to 1:100, Swing: Up to 1:30 (varies by instrument) |
| Minimum Trading Days | 5 days per phase |
| Trading Period | Unlimited for each phase |
| Refund Policy | 120% refund of the registration fee upon the first payout as a funded trader |
| Scaling Plan | Account size doubles upon reaching 10%+ net profit |
| Trader Profit Split | 80% to the trader |
| Payout Frequency | Weekly |
| Refund Policy | 120% refund of the registration fee upon the first payout as a funded trader |
| Scaling Plan | Account size doubles upon reaching 10%+ net profit |
| Trader Profit Split | 80% to the trader |
| Payout Frequency | Weekly |
| Refund Policy | 120% refund of the registration fee upon the first payout as a funded trader |
| Trading Platform | MetaTrader 4 |
| Weekend Holding | Allowed in Phase 1 and 2, prohibited for Standard Accounts as a funded trader |
| News Trading | Allowed in Phase 1 and 2, restricted for funded traders |
MPFunds is Asia's first modern proprietary trading firm that offers traders the opportunity to trade with virtual funds and earn real money based on their performance. It provides a unique challenge where passionate traders can showcase their skills and discipline to potentially become funded traders with MPFunds.
How the MPFunds Challenge Works
The MPFunds Challenge consists of two phases that evaluate a trader's consistency and risk management:
| Phase | Profit Target | Max Daily Loss | Max Total Loss | Trading Period | Min Trading Days |
|---|---|---|---|---|---|
| 1 | 8% | 5% | 10% | Unlimited | 5 |
| 2 | 4% | 5% | 10% | Unlimited | 5 |
To pass each phase and become a funded MPFunds trader, you must hit the profit target while staying within the maximum loss limits. The challenge has an unlimited duration, but you must trade a minimum of 5 days in each phase.
Upon successfully completing both phases, you graduate to become a funded MPFunds trader, where you trade the firm's capital and keep 80% of the profits you generate. Your performance is evaluated every 7 business days and profits are paid out weekly.
MPFunds Account Types and Platforms
MPFunds offers two main account types with different parameters:
MPFunds offers two main account types to cater to different trading styles and preferences: Standard Accounts and Swing Accounts.
The Standard Account allows leverage up to 1:100, which varies by instrument but requires positions to be closed before weekends and restricts trading 2 minutes before and after high-impact news events.
In contrast, the Swing Account provides a lower leverage of up to 1:30, again varying by instrument, but permits holding positions over weekends and has no restrictions around news events.
This flexibility makes the Swing Account ideal for longer-term traders. Traders can choose between account sizes ranging from $10,000 to $200,000 in virtual trading capital. The registration fee depends on the selected account size, as shown in the table below:
Standard/Swing Account
| Account Size | Registration Fee |
|---|---|
| $10,000 | $108 |
| $25,000 | $198 |
| $50,000 | $298 |
| $100,000 | $550 |
| $200,000 | $1,100 |
Note: MPFunds refunds 120% of the registration fee upon receiving the first payout as a funded trader, essentially making the challenge free.
The challenge and funded accounts are hosted on MetaTrader 4, a popular trading platform that is available for Windows, Mac, iOS, and Android. This allows flexibility to participate from anywhere using your preferred device.
Instruments and Trading Hours
MPFunds supports a variety of tradable instruments across different asset classes:
- 30+ forex pairs
- 10+ indices
- Commodities like gold, silver, oil
- Cryptocurrencies like Bitcoin, Ethereum
Trading is available 24/5 from Sunday 5 pm ET to Friday 5 pm ET when the markets are open. This accommodates traders in all time zones and with different styles.
Payouts and Scaling Plan
One of the most attractive aspects of MPFunds is the generous payout structure. Funded traders keep 80% of the profits generated in their accounts, paid out weekly.
There is also a scaling plan in place. Upon achieving a net profit of 10% or more, your account size is automatically doubled to increase your profit potential. For example, growing a $100K account by 10% to $110K will scale it to $200K for the next trading period. This motivates consistent performance and offers lucrative rewards for successful traders.
Help Guide
How long does each Phase of The Challenge Last?
The trading period for each phase is unlimited, allowing traders to take as much time as needed to reach the profit target without rushing trades.
What are The Profit Targets for Each Phase?
In Phase 1, traders must achieve an 8% profit target. In Phase 2, the profit target is 4%. Profits must come from closed positions to count towards the target.
What is The Maximum Daily Loss Limit?
The maximum permitted loss in a single trading day is 5% of the initial account balance. This limit resets at 00:00 UTC each day.
What is The Maximum Total Loss allowed?
Traders must not exceed a 10% drawdown from the initial account balance at any point during the challenge or as a funded trader.
What Leverage is Provided?
For standard accounts, the maximum leverage is 1:100. For swing accounts, the maximum leverage is 1:30. Leverage varies by instrument.
Can positions be held Over Weekends?
In Phase 1 and 2, positions can be held over weekends. However, funded traders with standard accounts must close positions before the weekend.
Are there any Trading Restrictions around News Events?
During Phase 1 and 2, there are no restrictions for trading around news. However, funded traders cannot execute trades 2 minutes before or after high-impact news releases on the affected instrument.
What is the Fee to Register for The Challenge?
The one-time registration fee ranges from $108 for a $10K account to $1,100 for a $100K account. The fee is fully refunded (120%) upon receiving the first payout as a funded trader.
Final Thoughts
MPFunds emerges as a versatile and innovative solution in the financial technology landscape, offering users a seamless way to manage their investments. With its user-friendly interface and robust analytical tools, it empowers both novice and experienced investors to make informed decisions.
The platform's commitment to transparency and security ensures that users can trust their data and transactions are protected. As the financial world continues to evolve, MPFunds stands out by adapting to the needs of its users and providing a reliable and efficient service.
