Just my honest review (UPDATE)
As an long-time user of MPFUNDS, I feel compelled to share some significant concerns that have emerged over time, which have led me to question the firm's operations and ultimately, to recommend against its use. Delayed Payout Process: Initially, MPFUNDS advertised a payout timeframe of 7 calendar days. However, over time, this timeline has been extended with the exclusion of weekends, and most recently, Fridays have also been excluded from the working days. This change means that payouts can now take up to 14 calendar days, far exceeding the originally promised 7 days. The firm justifies these delays as necessary for processing payouts more efficiently and improving staff work-life balance. While the latter is understandable, it is evident that these delays are more likely a strategy to manage cash flow. Additionally, traders must wait an additional 1-2 working days for payout confirmation (excluding the day of request), which further prolongs the process. If MPFUNDS had clearly communicated a 14-day payout period from the outset, this might not have been an issue. However, MPFUNDS is still advertising a 7-day payout while consistently failing to meet that expectation is misleading and raises concerns. Unannounced 2% Risk Rule: A new 2% risk rule was introduced without prior notice, catching many traders off guard. I will not go into detail for this rule as many have already voiced out in the other reviews. This rule, which is not mentioned in the FAQs, has caused considerable frustration among users and has the potential to result in unexpected losses during the payout process. Increased Slippage: Over the past year, I have observed a significant increase in slippage against traders. While MPFUNDS attributes this to "true market conditions," we all know how prop firms work. This pattern raises concerns about the fairness and transparency of the trading environment provided by the firm. Lastly, although some are real, I do question the legitimacy of some 5 digit payout proofs. Unless MPFUNDS makes significant improvements, I believe many traders will choose to leave the platform. With the current standard, I find it difficult to introduce MPFUNDS to my peers. Edit: Payouts are now processed in 2-3 business days(excluding friday and weekends and also day of request) Edit 2: well well well... Personally I do have multiple live accounts awaiting payout and I believe it is as good as gone. I truly hope Dean Wong can fairly compensate the traders, especially those from Thailand which he have clearly spent a lot of time marketing in, and also traders from countries with less purchasing power than us residing in SG. Happy Trading!