MiFunder prop firm offers funded accounts ranging from 7 to 200k with a 5 million scaling plan. However, here is a catch. The firm does not offer a real trading environment, it only has simulated trading accounts, even for traders who pass the challenge and become funded. The firm is also very young and does not have enough online coverage and trader reviews, which increases the risks when dealing with MiFunder. Some traders directly indicate the firm manipulates prices and is a clear scam, but we never accuse prop firms of being scams without deep analysis and assessment.
In our MiFunder review, we are going to assess all the critical features of this prop training firm, including assets, funded options, rules, fees, platforms, support, and more.
Pros & cons of MiFunder prop firm
Pros
- Ability to withdraw with $0 fees
- Offers access to MetaTrader 4, DXTrade
- Fast and digital account opening/verification
- Most payment options are free and instant
- High overall drawdown of 10%
Cons
- Highly risky prop firm lacks safety
- Only offers Forex, indices, and commodities
- Does not offer 1k accounts for beginners
- Lacks 1 million in default funding for seasoned traders
- Very low leverage of 1:20
Quick rating of MiFunder and its features
| FPA Score | Not yet rated |
| Year founded | 2024 |
| Headquarters | Dubai, UAE |
| Minimum audition fee | 49 USD |
| Fees on withdrawals | 0 USD |
| Minimum funded amount | 7,000 USD |
| Maximum funded amount | 250,000 USD |
| Allowed daily loss | 4% |
| Profit target | 9% |
| Maximum trailing drawdown | 6% |
| Profit sharing (Payouts) | 80% |
| Trading Platforms | MetaTrader 4, DXTrade |
| Available trading markets | Forex, indices, commodities |
Safety of MiFunder — 0
MiFunder reviews are lacking on the FPA and there are only 71 reviews on Trustpilot, making it fairly difficult to conclude the experience of traders with this firm. 10% of reviews on Trustpilot are 1-start reviews and indicate that the firm is manipulating prices and is a scammer. All trading is done in a simulated environment where the firm simulates trading conditions according to the price data received from liquidity providers. This opens up possibilities for the firm to manipulate prices and ensure its traders fail to pass. This coupled with a 1-star review from traders is a huge red flag and traders should be very careful with MiFunder. The firm never mentions the name of its broker, which means the firm is not backed by the broker and acts as the broker itself. This is another serious red flag.
The firm gets a 0 score in this section as it does not offer any safety belt for traders to feel peace of mind.
MiFunder Funding and Maximum Capital Allocation — 3
MiFunder funded programs are two, one-phase, and two-phase funded accounts. Both of them come with the same range of funding options including 7k, 15k, 30k, 60k, 125k, and 250k US dollars. All funded trading is virtual on both accounts, meaning traders have to trade on simulated accounts even after they pass the challenge and become funded.
MiFunder funding options are diverse but they lack lower funding amounts from 1k for beginners and up to 1 million dollars for experienced traders.
MiFunder challenges can be purchased right from the initial page but lack higher leverage than 1:20. There are no accounts to offer a 3-step evaluation to quickly access trading capital for novice traders, which is a huge drawback of MiFunder prop trading firm.
MiFunder scaling plan allows traders to get up to 5 million in virtual funding. Since the firm does not offer trading through a regulated broker, we assume it is heavily incentivized for its traders to fail, especially on higher funded accounts.
Overall, the firm gets a 3
MiFunder Assets — 2
MiFunder prop trading assets include Forex pairs, commodities, and indices. There are no other assets offered at this point, which is a considerable drawback of this firm.
Overall, MiFunder gets a 2 score in this section.
MiFunder Trading rules and limitations — 1.8
MiFunder rules are mediocre, as the firm only offers a favorable maximum drawdown of 10% for 2-phase accounts. One-phase funded accounts come with a 4% daily risk limit, a 6% maximum drawdown, and a 9% profit target, which is high. The two-phase accounts have slightly better conditions, but are very lengthy. The firm allows EAs, trade copiers, and holding open positions during weekends.
For offering mediocre rules for prop trading, the firm gets a 1.8 score in this section.
MiFunder Fees – 2.5
MiFunder currently offers 20% discounts, which makes its accounts competitive when it comes to one-time fees. One-phase accounts start from 59 USD for the 7k accounts, and two-phase accounts have fees of 49 USD for the same amount of funding.
Here is the exact list of one-time fees for the 1-phase funded accounts:
- 7,000 USD – 59
- 15,000 USD – 109 USD
- 30,000 USD – 189 USD
- 60,000 USD – 339 USD
- 125,000 USD – 489 USD
- 250,000 USD – 989 USD
The 2-phase account, on the other hand, has the following fees:
- 7,000 USD – 49 USD
- 15,000 USD – 99 USD
- 30,000 USD – 179 USD
- 60,000 USD – 319 USD
- 125,000 USD – 479 USD
- 250,000 USD – 889 USD
MiFunder free trial is not offered as of now which means traders have to purchase the challenge to test the trading conditions which is inconvenient.
MiFunder free repeat is not offered as well as traders need to repurchase challenges if they fail during evaluation.
MiFunder gets a 2.5 score in this section for offering competitive fees and discounts.
MiFunder Platforms – 2.4
The firm offers access to advanced trading platforms of MetaTrader 4, and DXTrade. These platforms allow traders to use EAs and trade copiers and have advanced functionality. The firm gets a 2.4 score in this section for offering advanced platforms.
MiFunder Profit-Sharing – 1
MiFunder profit split is set at 80% for all accounts, and traders can increase it to 90% if they are successful. Profits can be withdrawn in between 1 and 3 business days. Overall, the firm gets a 1 score in this section for poor withdrawal policies.
Education and trading tools at MiFunder – 0
MiFunder does not offer any educational resources. There are no training courses, webinars, or educational videos. The FAQs section is more like a support than an educational resource, and the firm also lacks a trading blog. MiFunder gets a 0 score in this section for not offering any educational resources at all.
Customer Support at MiFunder – 2.4
When it comes to customer support services, MiFunder offers only two options, email and live chat channels. The live chat is the fastest way to contact the firm. There is no hotline support option offered, which is a red flag. Both the website and support are only available in the English language, which is another downside of MiFunder. Overall, MiFunder gets a 2.4 score in this section for lacking multilingual capacity and hotline support.
Frequently Asked Questions on MiFunder
Is MiFunder legit?
Is MiFunder a good prop firm?
