Liquidity Provider / Own Broker

MP Funds

MPFunds positions itself as a modern proprietary trading firm based in Asia, emphasizing flexibility and profitability for its traders. 

The firm offers a two-phase challenge with scalable simulated trading capital and a competitive profit split. 

Unique aspects include a variety of trading instruments, differentiated account types (Standard and Swing), and a notable emphasis on leveraging trader discipline and consistency. 

The firm also provides a membership program that offers additional rewards and benefits.

### Legal Company Name

**MYPOCKET FUNDS PTE. LTD**

### Company Address

**1 Paya Lebar Link #04-01 Paya Lebar Quarter, Singapore (408533)**

### Year of Establishment

**September 2022**

### Place of Company Registration

**Singapore**

### Company Owners

**CEO: Dean Wong**

### Trading Platforms Offered

**cTrader and MetaTrader 5 (MT5)**

### Trading Instruments Available

- **Forex pairs**
- **Metals**
- **Indices CFDs**
- **Energies**

### Payment Methods Available

- **Debit and Credit Cards (via Stripe)**

### Range of Account Sizes Offered

- **$10,000: $108**
- **$25,000: $198**
- **$50,000: $298**
- **$100,000: $550**
- **$200,000: $1,100**

### Profit Split Structure

**80% of profits**

### Profit Targets for Each Challenge Phase

- **Phase 1: 8%**
- **Phase 2: 4%**
- **Approved Account: N/A**

### Maximum Daily and Total Loss Limits

- **Daily Loss: 5%**
- **Total Loss: 10%**

### Minimum and Maximum Trading Day Requirements

- **Minimum Trading Days: 5 days**
- **Maximum Trading Days: N/A**

### Overview of Challenges and General Rules

MPFunds offers Standard and Swing challenges with different leverage and trading conditions. Both challenge types have the same pricing and profit targets but differ in their leverage ratios and restrictions on news trading and weekend holding. 

The trading period is unlimited for both phases and approved accounts.

### Challenge Steps

1. **Phase 1: Achieve 8% profit target within unlimited time**
2. **Phase 2: Achieve 4% profit target within unlimited time**
3. **Approved Account: Continue trading with no profit target**

### Pricing/Costs to Start Challenges

- **$108 to $1,100 depending on account size**

### Fees & Commissions

- **Commission: $3 per round lot for all markets**

### Refundable Fees Details

**Registration fees are refundable upon the first profit withdrawal**

### Free Trial Availability and Details

**No free trial accounts are offered**

### Payout Frequency

**Every 7 business days**

### Leverage

- **Standard Accounts: Up to 1:100**
- **Swing Accounts: Up to 1:30**

### Consistency Rule

**Focus on disciplined and consistent trading, with specific rules against exploiting platform inefficiencies**

### Commission per Lot

**$3 per round lot**

## Trustpilot Reviews

### Positive

(Majority of the reviews are positive)

- **Professional and Reliable:** MPFunds is praised for delivering on their claims with a professional approach. Improvements in payout speed, market conditions, minimal slippage, and server reliability contribute to high satisfaction.
- **Successful Grand Opening Event:** The grand opening event in Thailand exceeded expectations with good management, valuable knowledge sharing, and numerous rewards, including a monetary reward for attendees.
- **Smooth Payout Process:** Users report receiving their payouts smoothly and without issues. The payout process is efficient, and there are no hidden rules beyond those stated on their website.
- **Excellent Customer Service:** The firm provides excellent customer service, with specific mentions of helpful representatives like Hasnain. Issues are resolved promptly, ensuring traders feel supported.
- **Trusted and Strict Protocols:** Based in Singapore, MPFunds is trusted by traders for its strict protocols and high standards. The easy-to-use application and dashboard add to the positive trading experience.

### Negative

(No real negative reviews)

- **Platform Limitations:** While IC Markets cTrader is provided, some traders prefer MT4/5 for features like copy trading and expert advisors, which cTrader does not support.
- **Swing Account Restrictions:** The leverage for Swing Accounts is limited to 1:30 with a maximum lot size of 50. This limitation poses challenges for traders with larger accounts and smaller stop-loss sizes, resulting in frequent margin calls.
- **Slippage Issues:** Traders have experienced significant slippage with the cTrader platform, affecting their entry and exit points and overall trading performance.

### Frequently Asked Questions

**Summarized:**

- **MPFunds provides a simulated trading capital program with a profit-sharing scheme**
- **Located in Singapore, not required to be regulated by MAS**
- **Does not offer free trials or crypto trading**
- **Minimum trading days calculated based on when a trade is opened**
- **Prohibited strategies include platform inefficiency exploitation and certain types of hedging and account management services**
- **Partners with a regulated 3rd-party liquidity provider for trade execution**

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MP Funds - 10K - 2 Steps - 80%