SabioTrade and MyForexFunds stand out as popular proprietary trading firms, offering funding programs with a profit-sharing model. In this article, we’ll uncover the commonalities and differences that define these two firms’ approaches to prop trading.
| SabioTrade | MyForexFunds | |
| Entry-level accounts ($10-50K) | ✔️ | ✔️ |
| Mid-tier accounts ($60-100K) | ✔️ | ✔️ |
| Large accounts ($200+K) | ✔️ | ✔️ |
| Scaling with leverage | Up to $2 mln. | Up to $2 mln. |
| One-step assessment | ✔️ | ❌ |
| Refunds | ✔️ | ✔️ |
| Instant funding | ❌ | ✔️ |
| Profit split | 80-90% | 75-85% |
| Price | $119 – $939 | $99 – $4,900 |
| Free education | ✔️ | ❌ |
| Unlimited time for assessment | ✔️ | Depends on the assessment type |
| Minimum trading days | 0 | Min. 5 days |
| Profit target | 10% | 8% at Step 1 5% at Step 2 |
| Daily loss limit | 3-5% | 12% |
| Max. trailing drawdown | 6% | 5% |
| Simple rules | ✔️ | ❌ |
| Trading platform | Quadcode trading platform | MT4, MT5 |
| Payout scheme | Anytime | Monthly/bi-weekly |
| Algorithmic trading | ✔️ | ✔️ |
| Trial account | ✔️ | ❌ |
SabioTrade markets itself as the most uncomplicated prop firm. Traders have the opportunity to earn a share of profits from their trading activities in funded accounts up to $200,000. The firm equips traders with essential tools and support to enhance their trading experience.
SabioTrade provides a proprietary trading platform accompanied by a user-friendly dashboard for statistics tracking. The platform includes supplementary tools such as indicators, widgets, calendars, price alerts, and more.
SabioTrade utilizes Discord and Telegram platforms, creating spaces for traders to connect, share insights, and collaborate. Additionally, the firm enhances trader skills by offering free training through their boot camp program.
MyForexFunds is a Canadian prop firm. It distinguishes itself by providing an instant funding option, allowing traders to secure a funded account without undergoing an assessment. This option is exclusively available for highly skilled full-time traders on the Accelerated tier. Less experienced traders undergo either a two-step evaluation or a more extended three-month evaluation process that can lead to the accrual of real bonuses.
The firm faced regulatory issues in 2023 when accounts were temporarily frozen, but this issue is resolved now.
Let’s compare the assessment procedures at SabioTrade and MyForexFunds.
| SabioTrade | MyForexFunds | |
| Assessment types | 1 | 2 |
| Stages of assessment | 1 | 2 |
| Profit during assessment | No | Bonuses on Accelerated tariff |
| Time limit | ∞ | From 60 days to ∞ |
| Min. evaluation fee | $119 for a $20K account | $49 for a $5K account |
SabioTrade has a simple assessment procedure. It’s one-step, fixed, and has no time limits so traders could complete the evaluation at their preferred pace.
Contrastingly, MyForexFunds has a complex evaluation structure, encompassing 3 account types:
Verdict: MFF has an unconventional tariff that allows you to generate profits from day one. However, it’s overpriced and suitable only for professionals. There is also a tariff that offers a 12% profit when trading on Demo, and a standard assessment tariff.
Sabio’s assessment process is transparent, simple (one step and no time limits), less variable, and more predictable.
Comparing the costs of the funding programs:
| Funding | $20K | $50K | $100K | $200K |
| Profit % | 80% | 80% | 80% | 90% |
| Price | $119 | $289 | $479 | $939 |
| EVALUATION | |||||||
| Funding | $5K | $10K | $20K | $50K | $100K | $200K | $300K |
| Profit % | 75-85% | 75-85% | 75-85% | 75-85% | 75-85% | 75-85% | 75-85% |
| Price | $49 | $84 | $139 | $299 | $499 | $979 | $1,389 |
| RAPID | |||||||
| Funding | $10K | $20K | $50K | $100K | |||
| Profit % | 12-85% | 12-85% | 12-85% | 12-85% | |||
| Price | $99 | $189 | $399 | $749 | |||
| ACCELERATED (CONVENTIONAL) | |||||||
| Funding | $2K | $5K | $10K | $20K | $50K | ||
| Profit % | 75-85% | 75-85% | 75-85% | 75-85% | 75-85% | ||
| Price | $99 | $245 | $485 | $970 | $2,450 | ||
| ACCELERATED (EMPHATIC) | |||||||
| Funding | $2K | $5K | $10K | $20K | $50K | ||
| Profit % | 75-85% | 75-85% | 75-85% | 75-85% | 75-85% | ||
| Price | $198 | $490 | $970 | $1,940 | $4,900 | ||
Verdict: MFF’s tariffs are considerably more diverse and expensive compared to Sabio’s. For instance, a tariff for 20K in Sabio will cost $119, whereas in MFF, it ranges from $139 to $1,940, depending on the plan.
Let’s assess the feasibility of our competitors’ profit targets and delve into other essential trading conditions.
| SabioTrade | MyForexFunds | |
| Leverage | 1:30 | 1:5 – 1:500 |
| Profit target | 10% | 8-20% |
| Daily loss limit | 3% | 5-10% |
| Max . trailing drawdown | 6% | Balance-based |
| Trading commissions | No | No |
Verdict: Sabio’s conditions are clearer from the start due to their fixed nature, whereas MyForexFunds’ profitability can vary depending on various factors.
Now, let’s examine the trading flow in these two prop firms.
MyForexFunds utilizes the traditional MT4 and MT5 engine and provides access to a user-friendly dashboard to:
Now, let’s proceed to compare the two in terms of tradable assets:
| SabioTrade | MyForexFunds | |
| Forex | ✔️ | ✔️ |
| Stocks | ✔️ | ❌ |
| Commodities | ✔️ | ✔️ |
| Indices | ✔️ | ✔️ |
| ETFs | ✔️ | ❌ |
| Crypto | ✔️ | ✔️ |
Verdict: both competitors offer a contemporary dashboard for performance and profit monitoring. However, with MyForexFunds, users need to transition to MetaTrader, whereas with SabioTrade, trading can be conducted directly from the proprietary platform within the dashboard.
Both prop firms facilitate trading currency pairs, indices, crypto, and commodities, and Sabio additionally features stocks and ETFs.
Now — to the list of available trading methods:
| SabioTrade | MyForexFunds | |
| Wire transfers | ✔️ | ❌ |
| Credit/debit cards | ✔️ | ✔️ |
| E-wallets | ❌ | ❌ |
| Crypto | ✔️ | ✔️ |
Verdict: SabioTrade and MyForexFunds facilitate deposits and withdrawals via bank cards and crypto. On top of that, SabioTrade offers wire transfers.
Looking for professional trading assistance? Here’s what you can expect:
| SabioTrade | MyForexFunds | |
| Trading education at boot camp | ✔️ | ❌ |
| Telegram analytics | ✔️ | ❌ |
| FAQ | ✔️ | ✔️ |
Verdict: When choosing between the two competitors, SabioTrade emerges as the preferred option for trading education. It features a boot camp, online training with real experts, Q&A sessions, live trading sessions, and more. Additionally, Sabio traders can access insights and strategies from analysts through Telegram.
On the other hand, MFF is geared towards seasoned professionals and does not provide any educational materials.
When making a decision between SabioTrade and MyForexFunds, traders should consider factors such as:
✅ Preferred trading instruments: Both platforms allow trading Forex, commodities, crypto, and indices, but SabioTrade stands out by offering additional options like stocks and ETFs.
✅ Simplicity: MyForexFunds has a number of tariff configurations, each featuring different profit targets, profit sharing %, and other conditions. SabioTrade’s offerings are overall easier to figure out.
✅ Budget considerations: MyForexFunds has affordable entry plans starting at $59, while SabioTrade offers overall cheaper plans. At the maximum, the price difference between equal-sized $20,000 funded accounts reaches $4,611.
✅ Time: SabioTrade has no time limitations on assessments and doesn’t require a minimum number of trading days, unlike MyForexFunds, which has specific requirements for some tariff configurations.
✅ Profit goals: SabioTrade’s maximum profit threshold is 90%; MFF — 85%. MyForexFunds starts with a minimum profit percentage of 75%, while SabioTrade sets the minimum profit share at 80%. However, if you’re a pro trader, with MFF you can start getting payouts from day 1, although you’ll have to pay a significantly higher initial price.
✅ Mentorship opportunities: MyForexFunds lacks educational resources for traders, while SabioTrade offers educational support through their boot camp and social media channels.
After examining both prop firms, it can be deduced that SabioTrade stands out as a more uncomplicated, budget-friendly, and user-friendly platform for proprietary trading, catering well to beginners who may find complex payment structures challenging. It is also an excellent option for individuals seeking educational resources.
On the contrary, MyForexFunds offers greater flexibility with multiple tariff configurations. Additionally, its “no assessment” option may appeal to full-time traders with extensive market experience.
