MiFunder, officially named Lunnify (FTE), is a prop trading firm based in Dubai, UAE, established in 2023.
It distinguishes itself by offering unique trading challenges, including both 1-step and 2-step evaluation challenges, with platforms like MT4 and DxTrade.
Traders can engage with a variety of financial instruments such as Forex, commodities, indices, and crypto.
The firm boasts competitive profit splits, zero commission rates during evaluations, and flexible trading conditions tailored to diverse trading strategies and skill levels.
Ready for a new trading challenge? Sign up here: **Start with MiFunder.**
Coupon Code for MiFunder Prop Firm
MiFunder Prop Firm is currently offering a promotional discount for traders looking to start their evaluation journey. Use the coupon code NEXTLEVEL20 to receive 20% off all Evaluation accounts.
This promotion is valid until the end of April 2024.
About MiFunder Prop Firm: An Overview
Company Name of MiFunder
The firm operates under the official name Lunnify (FTE), publicly doing business as MiFunder. This name is synonymous with its innovative approach to proprietary trading.
Address Details of MiFunder Prop Firm
MiFunder is located in Business Bay, Dubai, UAE. This prestigious location underscores the firm’s commitment to being at the heart of a major financial hub.
Founding Year of MiFunder Prop Firm
MiFunder was established in 2023, marking it as one of the newer players in the prop trading industry.
Who Owns MiFunder Prop Firm?
Ownership details of MiFunder are not disclosed on the firm’s website.
Trading Platforms at MiFunder Prop Firm
MiFunder Prop Firm offers traders access to two leading trading platforms:
- MT4: Known for its robust features, MT4 caters to forex traders with advanced charting tools, automated trading systems, and extensive back-testing options.
- DxTrade: Provides a modern alternative with customizable interfaces and features designed for both beginners and experienced traders.
These platforms ensure that traders at MiFunder have the necessary tools to execute their strategies effectively.
Instruments Available with MiFunder Prop Firm
Forex: Major, minor, and exotic currency pairs.
Commodities: Such as gold, oil, and agricultural products.
Indices: Broad market exposure through major global indices.
Crypto: Trading on popular cryptocurrencies.
This variety enables traders to diversify their portfolios and take advantage of various market conditions.
How to Make Payments at MiFunder Prop Firm
Payment options at MiFunder are straightforward and tailored to cater to a global audience:
- Wire Transfer: Ideal for larger transfers, ensuring secure and direct deposits.
- Crypto Payments: Including USDT and BTC, offering speed and privacy for digital currency enthusiasts.
These methods provide flexibility and ease of use for traders funding their accounts or receiving payouts.
Account Sizes Available at MiFunder Prop Firm
MiFunder offers a wide range of account sizes to accommodate different levels of trading expertise and financial commitment:
- Account Tiers: $7k, $15k, $30k, $60k, $125k, $250k.
Profit Splits in MiFunder Prop Firm
Profit splits at MiFunder are designed to reward successful traders generously:
- Standard Split: 80% of the profits go to the trader.
- With Add-ons: Potential to increase up to 90%, enhancing the earning potential for traders who meet specific criteria.
Profit Targets for MiFunder Prop Firm:
MiFunder sets specific goals for traders to reach in order to advance or secure funding:
For 2-step Challenges: A profit target of 7% for Phase 1 and 5% for Phase 2. For 1-step Challenges: A profit target of 9%.
These targets are designed to test the traders’ ability to generate consistent returns while managing risk effectively.
Maximum Daily Drawdown and Loss at MiFunder Prop Firm
MiFunder implements stringent risk management rules to protect both the trader and the firm:
1-step Challenge: Maximum daily loss cap at 4% and total loss cap at 6%. 2-step Challenge: Maximum daily loss cap at 5% and total loss cap at 10%.
These limits help maintain disciplined trading practices and ensure longevity in trading careers.
Minimum/Maximum Trading Days Required at MiFunder Prop Firm
MiFunder provides flexible trading time frames to accommodate various trading strategies:
- Unlimited Maximum Days: Traders can take as long as they need to meet the profit targets, which reduces pressure and allows for strategic trading.
- Minimum of 5 Days: Ensures that traders have adequate time to showcase their trading skills and strategy effectiveness.
This approach respects the diverse methods and paces at which traders operate.
Steps Available in MiFunder Prop Firm Challenge
MiFunder offers two types of challenges to cater to different trader preferences and strategies:
- 1-step Challenge: Direct and intense, suitable for experienced traders who can meet higher targets quickly.
- 2-step Challenge: More gradual, allowing traders to demonstrate consistent performance over two phases.
Each challenge type is tailored to test trading skills under varied yet controlled conditions.
Pricing for MiFunder Prop Firm Challenge
MiFunder has structured its pricing to make the challenges accessible while ensuring commitment:
1-step Challenge:
- 7k – $59
- 15k – $109
- 30k – $189
- 60k – $339
- 125k – $489
- 250k – $989
2-step Challenge:
- 7k – $49
- 15k – $99
- 30k – $179
- 60k – $319
- 125k – $479
- 250k – $889
Commissions and Fees at MiFunder Prop Firm
MiFunder Prop Firm promotes a competitive fee structure to support traders during their evaluation journey:
- $0 Commissions during the Evaluation Phase: Traders enjoy zero commission charges, allowing them to keep all of their earned profits.
- Commission in Funded Phase: $3 for forex pairs, ensuring transparency and affordability post-evaluation.
- Indices and Crypto Instruments: $0 commission during both evaluation and funded phases.
This fee policy is designed to encourage traders to maximize their performance without the worry of diminishing returns due to high costs.
MiFunder Prop Firm: Refund Policies
MiFunder does not currently offer refundable fees for its trading challenges.
Trial Offers at MiFunder Prop Firm
As of the latest information, MiFunder does not provide free trial periods for their trading challenges.
Payout Schedules of MiFunder Prop Firm
- First Payout: Occurs 30 days after the trader meets the necessary profit targets.
- Subsequent Payouts: Follow on a bi-weekly basis, providing regular and predictable income for successful traders.
This structured payout schedule allows traders to plan and manage their financial goals effectively.
Evaluating MiFunder Prop Firm: Advantages and Disadvantages
- Innovative Funding Options: Traders appreciate the funded phase and evaluation resets, enhancing flexibility and opportunity.
- Substantial Payouts: Reports of significant payouts, like $5,800, confirming the firm’s reliable profit-sharing model.
- Supportive Community: Positive feedback on the helpful and truthful support team, particularly noted on their Discord server.
- No Commission Charges During Evaluation: Allows traders to maximize earnings without deductions.
- No Refunds or Free Trials: Potential traders must be ready to invest financially from the start, which might be a barrier for some.
MiFunder FAQ Section
If you break a rule in your funded phase, you can activate the Funded Phase Reset add-on to reset your account without undergoing another evaluation. They developed this feature as an insurance policy to protect your funded account.
Please note:
50/50 profit split after reset
Can ONLY be activated on or before 12 days after the first trade in your funded account.
P.S. 90% of traders who bought the reset ended up needing it to remain in the funded phase (after a breach).
Evaluation Phase Reset
Mistakes are inevitable, especially in the first few days of trading. At MiFunder, traders who purchase the Evaluation Phase Reset add-on can reset their evaluation twice.
How Evaluation Phase Reset Works
The “evaluation phase reset” is applicable only to two-phase evaluation accounts.
If the perk wasn’t used in Phase 1, it can be activated in Phase 2 (the verification phase). Either time you use this perk, you start again from phase one (for free).
It can only be activated within 10 days of your first trade. The 10 days don’t restart each time you reset. In other words, you have 10 days to make 2 mistakes (violation), and you can’t reset after 10 days.
Can I reset my account without purchasing the Evaluation Phase reset perk?
For example, if you initially purchased a $125k two-phase evaluation without the “evaluation phase reset perk” and you fail before completing phase 1, you can restart the evaluation, usually at a discounted rate.
Profit Split Add-on
Get your profit split upgraded from 80% to 90% without scaling. Only available to 1-phase challenge.
Can I hold my positions Overnight/Weekend?
Yes, at MiFunder, you have the flexibility to hold positions overnight and on weekends. This feature allows you to potentially capture extended market movements that may occur outside regular trading hours and over the weekends, providing you with opportunities to maximize your trading strategies and adapt to various market conditions effectively.
Curious to try MiFunder out? Join MiFunder Today
