Understanding the differences and similarities in trading objectives and terms between MyFundedFX and Funding Pips is crucial for traders assessing which firm better suits their needs. This analysis provides a clear breakdown of key aspects of each firm.
Key Differences and Similarities in Trading Objectives
Here’s an overview of the trading objectives for MyFundedFX (Normal) and Funding Pips:
- Phase 1 Profit Target: Both MyFundedFX and Funding Pips set an 8% target.
- Phase 2 Profit Target: Each firm aligns with a 5% target in Phase 2.
- Maximum Daily Loss: A consistent 5% limit is maintained by both firms.
- Total Maximum Loss: MyFundedFX caps this at 8%, whereas Funding Pips allows up to 10%.
- Minimum Trading Days: Neither firm imposes a minimum trading day requirement.
- Maximum Trading Period: Both offer unlimited trading periods for Phase 1 and Phase 2.
- Profit Split: MyFundedFX offers an 80% split, in contrast to Funding Pips’ range of 80% to 90%.
This comparison indicates that while MyFundedFX and Funding Pips share similarities in profit targets and loss limits, they differ in their maximum loss allowance and profit split percentage. Such differences are crucial for traders in choosing a firm that aligns with their trading strategy and goals.
