MiFunder, also known as Lunnify (FTE), is a proprietary trading firm based in Dubai, UAE, founded in 2023. The firm offers distinctive trading challenges, including both 1-step and 2-step evaluation challenges, utilizing platforms such as MT4 and DxTrade. Traders have the opportunity to work with various financial instruments including Forex, commodities, indices, and cryptocurrencies.
The firm is celebrated for its advantageous profit shares, zero commission rates during evaluations, and adaptable trading environments suited for a range of strategies and expertise levels.
Interested in a new trading challenge? Sign up here: Get Started with MiFunder.
Coupon Code for MiFunder Prop Firm
MiFunder is currently offering a promotional discount for traders who are starting their evaluation. Use the coupon code NEXTLEVEL20 to receive 20% off all Evaluation accounts.
This promotion is active until the end of April 2024.
Diving into MiFunder Prop Firm’s Details
MiFunder’s Official Company Name
MiFunder, officially registered as Lunnify (FTE), is recognized for its progressive approach to proprietary trading.
The Address of MiFunder Prop Firm
Located in Business Bay, Dubai, UAE, MiFunder is strategically positioned in a key financial center.
Establishment Date: MiFunder Prop Firm
Established in 2023, MiFunder is among the latest entrants in the prop trading sector.
MiFunder Prop Firm’s Founders/Owners
The ownership of MiFunder is not publicly disclosed on the firm’s website.
Trading Platforms at MiFunder
- MT4: Favored for its comprehensive features, MT4 is tailored for forex traders with sophisticated charting tools, automated trading capabilities, and extensive back-testing.
- DxTrade: A newer alternative that features customizable interfaces, suited for both novice and seasoned traders.
Range of Instruments by MiFunder Prop Firm
Traders can diversify their investment strategies across various markets:
- Forex: Includes major, minor, and exotic pairs.
- Commodities: Options include gold, oil, and agricultural goods.
- Indices: Provides exposure to major global indices.
- Cryptocurrencies: Offers trading on well-known digital currencies.
These options help traders to broaden their portfolios and leverage different market conditions.
Payment Methods at MiFunder
MiFunder supports multiple payment options suitable for a global clientele:
- Wire Transfer: Recommended for substantial transactions, ensuring secure and direct payments.
- Cryptocurrency Payments: Includes options like USDT and BTC, preferred for their quick and private transaction capabilities.
These methods are designed to provide flexibility and convenience for traders managing their investments.
Available Account Sizes at MiFunder Prop Firm
MiFunder caters to various levels of trading experience and financial investment, offering account sizes from: $7k to $250k, across several tiers.
Profit Split Structure at MiFunder
MiFunder’s profit sharing models are designed to richly reward successful traders:
- Basic Share: 80% of the profits are given to the trader.
- Enhanced Terms: There’s potential to boost this to 90% under certain conditions.
Targeting Profits with MiFunder Prop Firm
MiFunder sets clear profit targets for traders aiming to advance or secure funding:
- In 2-step Challenges: Targets are 7% for Phase 1 and 5% for Phase 2.
- In 1-step Challenges: A single target of 9%.
These benchmarks are set to evaluate the trader’s ability to consistently achieve returns while managing risks effectively.
Daily Loss and Drawdown Rules at MiFunder
MiFunder enforces risk management protocols:
- 1-step Challenge: Daily loss limit is set at 4%, with a total loss cap at 6%.
- 2-step Challenge: Daily and total loss caps are at 5% and 10%, respectively.
These limits are crucial for fostering disciplined trading habits and ensuring sustainability in the trader’s career.
Minimum and Maximum Days for Trading at MiFunder
MiFunder offers varied trading durations to accommodate different trading styles:
- Flexible Maximum Days: Traders can take their time to reach the set profit targets.
- Minimum of 5 Days: This ensures traders have sufficient opportunity to demonstrate their trading prowess.
This approach respects the diverse strategies and pace of traders in achieving their objectives.
MiFunder Prop Firm’s Challenges
MiFunder provides two challenge types to suit varying trader preferences and strategies:
- 1-step Challenge: Intense and straightforward, ideal for experienced traders aiming for quick results.
- 2-step Challenge: A more gradual approach, allowing for consistent performance demonstration over
Pricing for Challenges
MiFunder has established a structured pricing framework to ensure the challenges are both affordable and maintain trader engagement:
Single-step Challenge Pricing:
- Starter account at $59 for $7k
- Intermediate level at $109 for $15k
- Advanced tier at $189 for $30k
- Professional grade at $339 for $60k
- Expert category at $489 for $125k
- Master level at $989 for $250k
Dual-step Challenge Costs:
- Entry level at $49 for $7k
- Developing trader at $99 for $15k
- Skilled position at $179 for $30k
- Advanced placement at $319 for $60k
- Professional status at $479 for $125k
- Expert standing at $889 for $250k
Fees and Commission Structure
MiFunder’s competitive fee strategy is designed to assist traders from the evaluation phase through to the funded stages:
- No Commissions During Evaluation: Allows traders to keep 100% of their profits, encouraging a positive start.
- Affordable Commissions Post-Evaluation: Just $3 for forex transactions, making continued trading cost-effective.
- Indices and Cryptocurrency Trading: Commission-free trading extends through both evaluation and funded phases to support diverse trading strategies.
This thoughtful fee structure aims to maximize trader success without the burden of excessive costs.
Financial Guidelines at MiFunder Prop Firm
No Refund Policy
MiFunder does not provide refunds on challenge fees, reinforcing the commitment required from traders at the outset.
Trial Period Availability
There are no trial periods offered at MiFunder, ensuring all traders begin under the same conditions.
How Often Does MiFunder Prop Firm Pay Traders?
- Initial Compensation: Awarded 30 days after successful profit target achievement.
- Ongoing Payments: Distributed on a bi-weekly basis thereafter, ensuring a steady income flow for successful participants.
The Good and Bad of MiFunder Prop Firm
- Unique Financial Engagement Models: Traders value the innovative funding options and the flexibility to reset evaluations.
- Significant Financial Returns: Frequent reports of substantial payouts demonstrate the firm’s commitment to rewarding successful trading.
- Robust Trader Support: Positive feedback about the proactive and responsive support staff, especially on digital platforms like Discord.
- No Commissions in Evaluation: This advantage lets traders maximize their initial earnings.
- Absence of Refunds and Free Trials: The lack of preliminary trial options or refunds may deter some potential traders looking for a risk-free start.
MiFunder FAQ
Traders can utilize the Funded Phase Reset add-on to return their accounts to a pre-violation state within 12 days of initiating trades, changing to a 50/50 profit split afterward.
The Evaluation Phase Reset add-on allows traders to reset their account up to two times if activated within 10 days of starting their trades, enhancing flexibility in the face of early setbacks.
Traders who do not succeed in the first phase without a reset perk can restart their evaluation at a reduced cost, showing MiFunder’s adaptability.
MiFunder allows traders the flexibility to hold positions overnight and over weekends, which can help capture market movements outside of standard trading hours and enhance strategy effectiveness.
Ready to test your trading skills with MiFunder? Join MiFunder Today
