Risk Warning: Your capital is at risk. 74-89% of retail investors lose money when trading CFDs.
You should consider whether you can afford to take the high risk.
MiFunder, operating under the name Lunnify (FTE), is a proprietary trading firm located in Dubai, UAE, and was established in 2023. The firm is noted for its distinctive trading challenges, including both single-step and dual-step evaluations, utilizing platforms such as MT4 and DxTrade. Traders have the opportunity to trade a variety of financial instruments, including Forex, commodities, indices, and cryptocurrencies.
MiFunder is acclaimed for its attractive profit-sharing models, no commission fees during evaluation periods, and adaptable trading conditions that suit a range of trading strategies and experience levels.
Interested in starting a new trading challenge? Sign up here: Begin with MiFunder.
MiFunder Prop Firm: Get Coupon Code
Currently, MiFunder Prop Firm offers a promotional discount to traders beginning their evaluation process. Traders can use the coupon code NEXTLEVEL20 for a 20% reduction on all Evaluation accounts.
This promotional offer is available until the end of April 2024.
Introduction to MiFunder Prop Firm
Official Company Name
Operating publicly as MiFunder, the firm’s formal registration is Lunnify (FTE), reflecting its forward-thinking approach to proprietary trading.
Prop Firm’s Address
Situated in Business Bay, Dubai, UAE, MiFunder’s location emphasizes its commitment to being a central player in a significant financial district.
Establishment Date
Founded in 2023, MiFunder represents one of the recent entrants into the prop trading market.
Ownership status
The ownership specifics of MiFunder are not publicly available on their website.
Platforms for Trading at MiFunder Prop Firm
MT4, recognized for its comprehensive features, serves forex traders with advanced charting tools, automated trading capabilities, and extensive back-testing opportunities.
DxTrade offers a contemporary choice with adjustable interfaces and functionalities suited for traders at all levels.
What Instruments Does MiFunder Prop Firm Offer?
- Forex trading includes major, minor, and exotic currency pairs.
- Commodities trading covers items like gold, oil, and various agricultural products.
- Indices give broad market exposure via major global indices.
- Cryptocurrencies involve trading on well-known digital currencies.
This assortment allows traders to diversify their portfolios and capitalize on different market dynamics.
Options for Payment at MiFunder Prop Firm
Wire Transfers are preferred for substantial monetary transactions, providing a secure and direct deposit method.
Cryptocurrency Payments, including USDT and BTC, cater to those seeking quick and private transactions.
Different Account Sizes at MiFunder Prop Firm
MiFunder accommodates various levels of trading expertise and financial engagement, offering accounts ranging from:
$7k to $250k, segmented into different tiers according to the trader’s commitment and skill level.
MiFunder Prop Firm’s Approach to Profit Sharing
The profit-sharing structure at MiFunder is designed to generously reward successful traders:
- The standard arrangement allows traders to keep 80% of the profits they generate.
- Enhanced terms can increase a trader’s share up to 90% based on certain criteria being met.
Profit Goals at MiFunder Prop Firm
- For 2-step Challenges: The targets are 7% in Phase 1 and 5% in Phase 2.
- For 1-step Challenges: The target is set at 9%.
These goals are established to assess the trader’s ability to consistently yield profits while managing risks effectively.
MiFunder Prop Firm: Loss and Drawdown Limits
- In the 1-step Challenge: The daily loss limit is set at 4% with an overall loss ceiling of 6%.
- In the 2-step Challenge: Daily and total loss limits are capped at 5% and 10%, respectively.
MiFunder Prop Firm’s Minimum/Maximum Trading Day Requirements
There is no cap on the maximum number of trading days, allowing traders to pursue profit targets without undue pressure.
A minimum of 5 trading days is required to ensure traders can adequately demonstrate their trading abilities and the effectiveness of their strategies.
Cost of Joining MiFunder Prop Firm’s Challenge
For the 1-step Challenge:
- Entry at $59 for a $7k account
- Intermediate $109 for a $15k account
- Advanced $189 for a $30k account
- Professional $339 for a $60k account
- Expert $489 for a $125k account
- Master $989 for a $250k account
For the 2-step Challenge:
- Beginner $49 for a $7k account
- Novice $99 for a $15k account
- Skilled $179 for a $30k account
- Advanced $319 for a $60k account
- Professional $479 for a $125k account
- Expert $889 for a $250k account
Understanding Fees and Commissions at MiFunder Prop Firm
- Zero Commissions in the Evaluation Phase: This policy allows traders to retain full profits, fostering an encouraging start.
- Low Commission Fees Post-Evaluation: A nominal fee of $3 for forex trades enhances post-evaluation affordability.
- Indices and Cryptocurrencies: Enjoy zero commissions, during both the evaluation and funded phases, promoting a broader trading spectrum.
These fee policies are designed to maximize trader engagement without the stress of high costs.
Refund Policies
Currently, MiFunder does not offer refunds for fees paid towards trading challenges, ensuring that all participants are fully committed from the outset.
Trial Offers
MiFunder does not provide trial periods for its challenges, maintaining a consistent entry process for all traders.
Frequency of Payouts
- Initial Payout: Delivered 30 days post achieving required profit targets.
- Routine Payouts: Thereafter, payouts are processed bi-weekly, stabilizing the income stream for successful traders.
Pros vs. Cons based on Trustpilot reviews
- Innovative Funding Solutions: Traders benefit from unique funding phases and the option to reset evaluations, increasing adaptability.
- Lucrative Payouts: Consistent reports of substantial payouts validate the firm’s robust profit-sharing framework.
- Supportive Community and Staff: Positive feedback highlights the accessible support team, particularly noted for their engagement on platforms like Discord.
- Zero Commission During Evaluation: This feature allows traders to optimize their profit during the initial phases.
- No Refunds or Free Trials: The lack of refundable options and trial periods might pose a challenge for potential traders requiring low-risk entry.
MiFunder FAQ
This add-on serves as an insurance option, allowing traders to reset their funded account to pre-violation status within 12 days of the first trade, with a subsequent 50/50 profit split.
Evaluation Phase Reset
Available for purchase, this add-on offers up to two resets during the evaluation phase, particularly if the resets are utilized within 10 days of the first trade. Resets provide an opportunity to start afresh if initial strategies falter.
Account Resets Without Purchased Perks
Traders failing the initial phase of a challenge without the reset perk may restart at a discounted rate, illustrating MiFunder’s flexibility.
Overnight and Weekend Position Holding
MiFunder permits holding positions overnight and during weekends, maximizing opportunities for traders to leverage prolonged market movements.
Eager to explore proprietary trading with MiFunder? Sign up with MiFunder Now
