FAQ Document
Microscalping Rule
Q. Is Microscalping allowed on my live account?
A: Yes, microscalping is permitted on the live accounts. The CME does not impose any restrictions on this trading style, so we have no problem with this strategy.
What is Microscalping?
Microscalping is a popular strategy used by many traders to capture small price movements, usually a few ticks. Traders compound small, consistent profits with minimum market exposure.
However, this strategy relies on minimal slippage, instant execution, and ideal market conditions, but this may not always be attainable in live trading.
We allow microscalping to all our live traders; however, please be aware that this approach carries significant risks.
Example of Micro Scalping:
Here is a scenario to illustrate this strategy:
Example 1: Short Duration
Buy Price: 23.964.50
Sell Price: 23.969.00
Duration: 5 Seconds
Profit: $90
This trade lasted only 5 seconds. While quick profits can be tempting, any sudden market driver events during that time could result in damaging slippage and heightened risk.
Dollar-Cost Averaging Trading Strategy (DCA)
Q. Do you allow DCA on the live account?
A: Yes, DCA is allowed on live accounts, but be careful, as it is a risky trading strategy.
The DCA is one of the most used risk management strategies by traders, especially during market volatility. Instead of taking the whole position at once, they stage trades over a specified period. The method helps to reduce the emotional impact of market volatility.
Adding to a losing position without a proper plan or strategy is heavily discouraged, as it may lead to liquidation.
Example of DCA:
Here is a scenario to illustrate this strategy:
A live trader is going long on the NASDAQ (NQ). They first enter with 1contract, and as the price retraces, they scale in another contract. The price dips even further, then they scale in another contract, for a total of three contracts.
Another live trader is going short on ES. Price moves aggressively up past their original position, but they add another contract to their short. The trader is in a major loss in the hopes of a reversal.
Can I request a payout of same-day profits before EOD?
Q. This is my first day on my live account. Am I able to request a payout today?
A. Technically, yes, but beware that if this is your first day on the account, you will need to wait until the end of day to send a payout request. After the first day, you are free to request daily payouts on your live account.
Q. Will I receive my payout the same day?
A. Yes, but please note that payout requests must be sent before 11 AM EST for the request to be processed the same day.
Q. I missed the deadline for daily payouts...
A. Do not fear, we have received your payout request. It will most likely be processed the following business day.
Q. Can I request multiple payouts in one day?
A. Unfortunately, that is not possible as payouts are processed once a day by our partner FCM.
Q. Can I continue trading after requesting a payout?
A. No, once you request your profits to be withdrawn from your account, your available contracts will be set to 0 until the payout is approved and paid. This ensures traders do not lose the profits requested before the payout is processed, which can cause the payout request to be rejected.
MyFunded Futures offers transparency, speed, and daily live payouts to all account types. Live traders must ensure that the minimum amount that they can withdraw is $250.
All payout requests must be sent before 11 AM EST to ensure our FCM partner approves your transaction promptly. You will receive one Email stating that your payout has been approved, and then another email notifying you that your payout has been paid.
Inactivity Rule
Q. Is there an inactivity timer/rule on the live account?
A. No, this is another benefit of the live account.
Q. What about my data exchange fee? Am I still going to be charged for it?
A. Yes, you will still be charged for it. Your exchange fee will be automatically deducted on the first trading day of the month.
All our live accounts, no matter what account type you were originally on, have no inactivity timer/rule. You are welcome to leave your account sitting.
This is a fantastic benefit. Let's say you are on vacation, need a break from trading, life events happen, etc. Your account will not be penalized for inactivity, as you are in charge of covering all ongoing fees.
T1 News Policy
Q. Can I trade news on my live account?
A. Yes, you can trade news.
News trading is allowed on our live accounts, but we heavily emphasize that you don't trade news. Trading during news comes with high volatility, which could lead to slippage, poor fills, and other risks associated. Please be aware that take profits, stop losses, or any other orders may not be honored.
Available Trading Hours
Q. I forgot to close my position at 3:10 pm CST or 4:10 pm EST. What happens now?
A. We have systems in place to ensure that your trades are automatically closed before 4:10 pm EST.
Q. Will I be breached if my trade wasn't closed EOD?
A. No, we do not punish our live traders, as your trades are automatically closed by our systems.
Luckily, we have systems in place for all our live accounts to ensure your trades are closed before 4:10 pm EST. We do not breach our live traders for this.
In the case your live account is still in a trade past 4:10 pm EST, please contact the live support team right away. This is very unlikely to happen, but always a good precaution to keep.
Hedging / Cross-Hedging Rules (same or different instruments)
Q. Can I short E-Mini ES and short Micro ES?
A. We do not allow our live traders to trade the same underlying asset in different directions at the same time.
MyFunded Futures maintains a strict no-hedging policy. We do not allow any kind of hedging, whether you are a sim trader or live. It is important to adhere to this rule as traders who disobey may face punishments.
Account Risk Settings
Q: Are there any limits to my position size or Daily Loss Limit?
A: Yes, all Live accounts have different limits to both their position size and Daily Loss Limits (DLL).
Please review our articles on this:
Q. How do I adjust my Daily Loss Limit (DLL)?
A. A decrease in your Daily Loss Limit can be requested at any time by contacting Live Support. Specify the amount you want your DLL set to, and a Risk Manager will adjust it for you.
Q: Can I increase my contracts and DLL?
A: While there is no set scaling plan for our Live accounts, we work one on one with all our Live traders to ensure their risk settings reflect their performance and strategy.
Once you have been live for 2 weeks, feel free to ask your risk manager to review your limits if you wish.
More prohibited practices
Q. Are there any other prohibited practices that you guys have?
A. No, there is nothing else we prohibit, but you must abide by the CME Rules.
Please review the official CME website for more information on this: https://www.cmegroup.com/rulebook/CME/
Additional Live Account FAQs
Adjusting Daily Loss Limit (DLL)
Q. How do I adjust my Daily Loss Limit (DLL)?
A. A decrease in your Daily Loss Limit can be requested at any time by contacting Live Support. Specify the amount you want your DLL set to, and a Risk Manager will adjust it for you.
Market Data Troubleshooting
Q. What should I do if my market data is delayed or not working?
A. Contact Live Support so they can add the required Live Data/Exchange. Do not try to add data yourself, as this may cause issues.
Q. Can I change my market data subscription or add exchanges?
A. Yes, you can request to add or remove market data exchanges (e.g., CME, COMEX) at any time. Fees are deducted from your live balance.
Dashboard and Account Issues
Q. What should I do if my dashboard is not reflecting my live account balance or trades?
A. Contact Live Support. The Tech Team will investigate and resolve the issue. You can request manual payouts or provide screenshots to help diagnose the problem.
Q. I can log in to my Live Account but there are no funds. What should I do?
A. Contact Live Support via Email. Funds may take up to 1 business day to reflect on your Live account after a successful onboarding.
Document Upload Troubleshooting
Q. My documents won’t upload on the dashboard. What should I do?
A. Ensure your documents are 5MB or less. If the issue persists, contact Live Support for assistance.
Live Account Setup Timing
Q. How long does it take to get the Live Account?
A. It typically takes 2–4 business days or less for your Live account to be fully set up. Wait times may be extended if additional documents are required.
Refusing a Live Account
Q. Can I refuse to move to a Live Funded Account?
A. No, rejecting the move to a Live Funded Account is not possible once you are selected.
Multiple Live Accounts
Q. Can I have more than one Live Funded Account?
A. Multiple live accounts can be discussed with your risk manager, but are reserved solely for high-performing traders that have a long track record trading Live for MFFU.
Sim Account Handling
Q. What happens to my Sim Accounts after moving to Live?
A. Simulated Evaluations remain dormant after you transition to the Live Environment. You cannot trade both Sim and Live data at the same time. The inactivity rule does not apply to Sim Accounts in this case.
Feedback and Path Back to Live
Q. Can I provide feedback or request a path back to live after losing my account?
A. Yes, you can share your feedback and inquire about options for returning to live. In some cases, a “Path Back to Live” plan may be offered based on your trading history to shorten this journey.
Trade Limits
Q. Is there a limit on the number of trades per week or day?
A. No, there are no limits to the maximum or minimum number of trades you can have per week or per day.
Drawdown Explanation
Q. How does the max drawdown work on my Live account?
A. The max drawdown is static and is set at $140 as the minimum balance. For example, if you have a $5,000 account, your max drawdown limit will be at $140 and your max drawdown will be $4,860.
Manual Payout Option
Q. What if my dashboard is not updating and I need a payout?
A. You can request manual payouts by contacting support if your dashboard is not updating or you encounter issues.