MyFundedFX Implemented a News Trading Rule

MyFundedFX introduces the NEWS Trading Rule, restricting trading around high-impact news events to protect traders in live simulated accounts.

Home ยป MyFundedFX Implemented a News Trading Rule

Featured News: MyFundedFX introduces the NEWS Trading Rule: Mitigate risks during high-impact events. Stay informed for fair and transparent trading.

MyFundedFX has introduced a new NEWS Trading Rule policy to protect traders during high-impact news events. This initiative, applicable solely to live simulated accounts, seeks to mitigate risks and ensure fair trading practices.

Under the NEWS Trading Rule, specific actions are either permitted or prohibited around high-impact news events:

Prohibited Actions

  • Trading within a 6-minute window surrounding high-impact news events is strictly prohibited.
  • Any profits gained or losses incurred during this restricted period will not be counted or compensated.
  • Traders who breach this rule will receive a soft breach notification. However, their accounts will not face termination.

Permitted Actions

  • Trading is allowed up to 3 minutes before (-3) and 3 minutes after (+3) the news event.
  • Soft breaches remind traders to emphasize adherence to the rule without risking the loss of their accounts.
  • Outside the 6-minute window, there are no restrictions on profits or losses.

MyFundedFX Implemented a News Trading Rule

Additional Guidelines

  • Traders are advised against setting any pending orders during the restricted time window.
  • Trading assets correlated with a currency impacted by a news event is prohibited.
  • While the firm explores options to accommodate swing traders, profits from positions within the restricted window will be nullified.

In response to these measures, MyFundedFX is actively updating its FAQs, sending emails, and revising website details to ensure all traders are informed and compliant. The firm shows the importance of cooperation and responsible trading practices to maintain a fair and transparent trading environment.

Traders are encouraged to visit MyFundedFX for further information and updates regarding implementing the new trading rule.

With the introduction of this rule, MyFundedFX aims to enhance risk management protocols and foster a safer trading environment for all participants during high-impact news events.

Last but not least, for an in-depth Review, click here.

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertise with us

Subscribe to Newsletter

Prop Reviews