MyFundedPerps review 2026: simulated crypto perps, a static drawdown, payouts through Rise — the documents, and the Elite 50K we bought

The short answer

On 15 October 2026 we read MyFundedPerps’ documentation (about a hundred pages), its Terms of Use, Refund Policy, Privacy Policy and Disclaimer (all dated September 2026), and called the two public API endpoints documented without a key — the market list and the restricted-country list. The same evening Raphael bought an Elite 50K Challenge and placed one trade; on 16 October 2026 we read our affiliate dashboard. We clicked nothing else that pays. Every figure below carries its date; whatever MyFundedPerps does not publish is written “not published”. The firm page with the full grid is our MyFundedPerps review and Trust Score.

1. What MyFundedPerps is, and who runs it

The docs define it in one line: “MyFundedPerps is a paper-trading platform for crypto perpetual futures in the funded-challenge model. You trade simulated accounts against real market data and order books.” You pay a one-time fee for an evaluation; if you pass, you get a simulated funded account whose profits can be paid out.

The operator, named in the footer, the Terms, the Disclaimer and on its PDF invoices, is Funding Perpetuals Holdings, Inc., d/b/a MyFundedPerpetuals, “a corporation incorporated under the laws of the State of Delaware”. The Terms apply Delaware law, mandatory AAA arbitration in Delaware and a class-action waiver. We could not find the company in a public registry: file number, incorporation date and officers are not published and were not verified. No financial licence is claimed — the Disclaimer says MyFundedPerpetuals “is not a broker-dealer, futures commission merchant, investment adviser, or money manager”.

Two discourses on My Funded Futures. The homepage says “From the team behind My Funded Futures” and shows “$250M+ Paid Out to Traders”, “100K+ Payouts Issued” and “My Funded Futures Track Record, Since 2023”. Those are the futures firm’s numbers, not MyFundedPerps’. The Refund and Privacy policies, for their part, say MyFundedPerpetuals is “a brand operated by Funding Perpetuals Holdings, Inc. (…), a company separate from MyFunded Futures, LLC”. Both are true at once: an operational family, two legal entities. A track record does not travel from one to the other.

A short history. The brand was announced on 21 July 2026 as “Funding Perpetuals” (“up to $500,000 in funding”); a press release of 3 September 2026 said it had “rebranded as MyFundedPerps and is now officially part of the MyFundedFutures family”, after a one-month beta with “more than 2,500 active beta users”. Payout requests opened on 11 September 2026 at 04:00 UTC, and a launch competition ran from 15 to 28 September 2026. On 15 October 2026 the product had therefore been open for about five weeks. Its X account is @MyFundedPerps; the “Join Discord” link opens the My Funded Futures server (142,436 members according to Discord’s public invite data on 15 October 2026) — we found no Discord server of its own.

2. What is simulated — in the firm’s own words

Everything. MyFundedPerps writes it in four places, all read on 15 October 2026:

• Terms, “Risk Disclosure”: “All Challenges and Funded Accounts operate exclusively within a simulated, non-executing environment. No trading performed through the Service involves the deposit, use, or risk of real capital, and the Service does not offer, and makes no representation that it will in the future offer, any pathway to trading with real capital or to a live funded account. Profit-split payments described in Section 9 are calculated based on simulated results and are paid from the Company’s own funds, not from real trading gains.”
• Terms, definitions: “Funded Account: A simulated funded trading account issued to a trader who has passed a Challenge”.
• Elite docs: “Sim Funded accounts use simulated capital and simulated execution, like every funded account.” Elite has no live stage.
• FAQ, “Are my trades executed on a real exchange?” (answer read live in a browser): “No. Fills, positions, and balances are simulated using real market data. No order is sent to an exchange to open a real position.”

Two consequences. First, what you can receive is a payment the company makes from its own funds, computed on a simulated balance — not a share of trading gains. Second, the Disclaimer warns that the simulation does not reproduce “slippage, execution latency, funding rate fluctuations, liquidation dynamics” the way a live market would. One page still says otherwise: the competitions page reads “Trade real order books against other traders”. The accurate phrase is real market data, simulated execution. Rules can change for future purchases; active challenges keep “the rules in effect at the time of activation” (Terms).

3. Markets, and where the prices come from

The docs list about 134 markets “currently enabled” (list dated 12 October 2026: 68 crypto, 41 stocks, 7 indices, 6 FX pairs, 12 commodities). The public /v1/markets endpoint returned 135 on 15 October 2026 at 16:26 UTC (one gold contract being retired), and it names the data provider behind each market:

Public API, read 15 October 2026 16:26 UTC. Bybit and Lighter appear in the API’s list of providers with no market attached; “lighter” and “fpx” are marked retired.

The firm’s own pages do not agree on this list: the homepage shows the logos of Hyperliquid, Lighter, Binance and Ostium; the Disclaimer cites “Hyperliquid, Binance, and Bybit”; a blog post of 12 September 2026 put FX on Lighter; the docs and the API now say Veranta for FX and Ostium for US30. The count drifts too: 130 markets in that blog post, 122 in a press release of 2 October 2026. We go by the dated API.

Leverage is set per market, not per account (API, 15 October 2026): BTC and ETH 10×; SOL, BNB and XRP 8×; DOGE, TRX and HYPE 5×; most altcoins 2× or 3×; stocks 5× (GOOGL 4×, MSTR 3×); SP500, XYZ100 and DJI 12×; gold 10×, silver 8×; FX 50×. Elite raises five of them, on evaluation and funded accounts alike: NAS100 and SP500 40×, US30 25×, gold 20×, oil 10×, with total exposure capped at 40× the balance. Each market also has an exposure cap — open notional summed across all your accounts of the same product and size (BTC and ETH $1,000,000, smaller alts from $50,000), with each Elite account carrying its own. One net position per market, no hedge mode; isolated margin by default, cross available.

4. Plans and prices

Every challenge sold is a 1-Step evaluation: one target, no second phase, “no minimum trading-day count or evaluation time limit”, no consistency rule. Four models, all with a static maximum drawdown measured from the starting balance:

Docs, “Challenges and Rules” and “Elite Accounts”, read 15 October 2026. Split 80/20 on every plan, 90/10 as an option bought at checkout only. Select 1K and 2.5K accounts exist as prizes and cannot be bought; $200K accounts are not sold.

Elite is the model the homepage puts forward and the one whose prices the current docs publish:

List prices, USD, one-time fee, from the Elite page of the docs read 15 October 2026. In brackets: price ÷ account size (Roya’s arithmetic). “Funded max” = how many funded accounts of that size fit under the $100,000 Elite allocation.

Dropping the daily loss costs about 80% more ($495 → $889 on a 50K), and the choice cannot be changed after purchase. The 90/10 split adds about 20% ($495 → $594 on an Elite 50K with the daily loss). Select, Prime and Signature are also sold from 10K to 100K; their prices come only from a firm blog post of 14 September 2026 (Select 10K from $40, Prime from $60, Signature from $90) that the current docs do not repeat, so we do not tabulate them. Total funded allocation is capped at $300,000, $100,000 per model; beyond that, a “Funding Review” with no guarantee.

Codes change the price, and they move. On 15 October 2026 the homepage showed Elite prices 30% lower with the public code PERPS, and a banner read “Use code ELITE for 35% off your first purchase — 30% off every purchase after.” Our code ROYA gives −25% (affiliate dashboard, 16 October 2026). Side by side, with the docs’ own rounding rule (“A percentage discount on a whole-dollar total rounds down”):

ROYA column: Roya’s arithmetic (25% off the list price, rounded down), not a receipt. Last column: the prices the homepage displayed on 15 October 2026. On those readings, the public code was cheaper than ours — compare at checkout and take the lower price. MyFundedPerps' own affiliate documentation says a first purchase made with an affiliate code receives the greater of the affiliate's standard discount and the platform's first-purchase discount; we have not verified that on a purchase made with ROYA.

5. The rules that end an account

• The static floor, on equity. “The initial MLL floor is starting balance minus the static drawdown allowance. It does not follow intraday or end-of-day highs.” Losses are measured on equity, open profit and loss included. Elite 50K: $2,500 of room, a floor at $47,500 — on Elite, reaching it breaches the account. On Select, Prime and Signature the floor locks permanently to the starting balance at the first withdrawal; Elite has no such lock and keeps its 5% floor for life.
• The daily loss, if you bought it. 3% of the starting balance ($1,500 on a 50K), measured from the equity at midnight New York time — 04:00 UTC in summer time, 05:00 UTC in winter time (the US clocks change on 1 November 2026). Elite “No DLL” has none.
• Inactivity. 30 consecutive calendar days without an executed trade fail an evaluation; 7 days close a funded account. Logging in, an order that does not fill or a cancellation does not count, and the Terms add that “Liquidations and automatic account close-outs do not count as executed trades”.
• News, on funded accounts only. From 10 to 2 minutes before a high-impact release (FOMC, CPI, NFP, GDP, central-bank decisions, earnings for stocks), no new exposure; from 2 minutes before to 2 minutes after, no manual trade. Profits from trades that break the window “can be excluded during payout review”. The evaluation is unrestricted.
• Prohibited strategies. The FAQ has fourteen questions on them; the firm’s blog lists cross hedging (between evaluation and funded accounts, between people, or through correlated instruments), HFT, latency arbitrage, quote stuffing, spoofing and layering, wash trading, group hedging, account cycling, “Evaluation Gambling” (repeated maximum-risk attempts), and the exploitation of price feeds, execution or bugs. External copy trading and VPN location masking are banned too. Consequences listed: disqualification, cancelled simulated gains, refusal of funding, payouts or refunds.
• No reset. “Regular funding evaluations do not have a self-service balance reset”: a failed account is bought again.

One rule is not settled by the firm itself: whether the profit target counts open profit. The docs say yes — “The profit target and loss rules use account equity, including open-position profit or loss” — and the API exposes the equity-based remaining target. A blog post of 10 September 2026 says the opposite: “closed trades only”. The docs are the more recent text; we will settle it on our own account when it gets there.

6. Commissions, swap — and the fee we measured

The fee page charges a commission on every fill, entry and exit, the same for maker and taker: 0.03% on crypto, 0.0025% on forex, 0.005% on stocks, indices and commodities ($10,000 of crypto: $3 per fill, $6 round trip). A limit order does not lower it. Elite charges 0.001% on NAS100, SP500, gold and WTI. Funding is replaced by an hourly swap, charged on longs and shorts alike on the notional held at each UTC hour: 0.03% a day on crypto ($0.125 an hour on $10,000), 0.015% on stocks, commodities and indices, 0.005% on forex, 0.01% on NAS100 and SP500 on Elite. The funding rate shown in the terminal is “informational”. A blog post of 12 September 2026 adds a 0.1% penalty on liquidated notional, which the current docs do not repeat.

Market orders fill at the best bid or ask within a published worst-case slippage bound: for most instruments from 0.8 basis points (deep markets, small orders) to 16 (thin markets, large orders), by open-interest tier; 0.25 to 1.00 bp on major indices and commodities; 0.05 to 0.15 bp on forex. A resting limit order fills at its limit price.

7. Payouts, as written

Read in the payouts guide and the Elite page on 15 October 2026:

• Split: 80/20 by default on every plan; 90/10 only if bought at checkout, never after.
• Minimum: on Elite, 1% of the account size before split — $50, $100, $250, $500 for 5K to 50K (on a 50K: $400 to you at 80%, $450 at 90%); on Select, Prime and Signature, $100 gross.
• Rhythm: one request per funded account per New York calendar day; on Elite, no daily limit — a new request as soon as the previous one is done.
• Conditions: all positions closed and orders cancelled, no request pending, paid on realised balance. The request cannot be cancelled and trading is locked during the review. On Elite, profit left in the account at approval becomes a “balance buffer” that can never be withdrawn later.
• Rail: Rise (Riseworks): an invitation by e-mail, a Rise account to create, and “Approved payouts are delivered to the connected Rise account”. A 100% store-credit option skips Rise; the part converted to store credit is credited at 110% (100 → 110), cannot be cashed out and expires after 45 days.
• Cap: $100,000 of payouts per user for life, all accounts and models, counted after split; new purchases do not reset it.

What is not published: the currency and the network of a Rise payout (neither “USDC” nor “crypto” appears in the pages we read), the delay (“Review and delivery can take longer than the request window”), a public payout registry, a transaction hash, a payout address. Requests “can be paused”. Payout certificates exist, but each trader chooses to share them. That is the core of this review: MyFundedPerps is not an on-chain prop firm — nothing about its payouts can be read on a chain — which is why it sits in our overall grid but not in our on-chain or USDC rankings. For payouts we could check ourselves, see our verified payouts. Payouts received from MyFundedPerps: none.

8. KYC, countries, payment and refunds

KYC after you pass, not before you buy. Sign-up asks for a name, a country of residence and an address. Identity comes after the evaluation: “Challenge Passed → Identity Verification → Customer Agreement → Funded Account”, through Sumsub (“Identity documents are sent directly to Sumsub and are not stored by MyFundedPerps”) — a government ID and a liveness check, 18 or over; most checks take minutes, some up to 12 hours. The Terms also require KYC before any payout.

Countries. The public restricted-countries endpoint returned 31 codes on 15 October 2026: AF, BY, CD, CF, CG, CU, GN, HT, IQ, IR, KE, KH, KP, LY, ML, MM, PH, PK, PR, RU, SD, SO, SS, SY, TW, UA, UZ, VE, VI, VN, YE. The United States is not restricted. Per-account exceptions exist. On VPNs, the FAQ answer we read live says MyFundedPerps “may restrict or review account access involving VPNs, hosting providers, datacenter IP addresses, residential proxies, remote desktops, virtual machines…”.

Payment. Card and crypto, “according to your billing country”; purchase history labels the methods “Card” and “Unifold”. Accepted tokens and networks are not published. The Terms cap purchases at 10 accounts per rolling 24 hours, 25 per 7 days and 50 per 30 days.

Refunds (Refund Policy): within 48 hours if the account shows no activity, minus a non-refundable $25; none once you have traded, opened a position or even accessed market data; none for a failed or breached account. A chargeback on a delivered product counts as a breach of the Terms.

9. Bots, API, news, weekends

• API: the docs sell one — REST and WebSocket, an MCP server, a command-line tool and a sandbox, labelled beta (“Breaking changes may be introduced at any time”). The firm’s blog: “Automated trading is allowed only through the documented public REST API; internal website APIs are off-limits.” The Terms forbid bots or scripts used “to overwhelm the Platform, gain a latency advantage, or evade Platform controls”. The FAQ answer on automated trading was not readable.
• Copy trading: only between your own accounts (lead and followers, multiplier 0.1× to 2×); external copy trading, mirroring and signal execution are prohibited.
• News: “Yes, during the evaluation” (FAQ); restricted, not banned, on funded accounts, with the windows described above.
• Weekends: “Yes, on 24/7 markets […] On 23/5 markets, weekend trading and holding are not allowed. All open positions are automatically closed 15 minutes before the market closes on Friday.”
• Self-protection tools: a server-side maximum market slippage, separate leverage ceilings for FX and the rest, and a voluntary “Trader Lockout” from 15 minutes to 24 hours that even support cannot lift.

10. Reputation

Trustpilot (profile, claimed in September 2026): 4.4/5 on 58 reviews — 88% five stars, 8% one star — with the label “This company may be associated with high-risk investments”. Caveat: the page we fetched on 15 October 2026 looked like a cache from around 28 September 2026 (its relative timestamps matched those dates). Positive reviews mostly praise the dashboard and support. Among the one-star reviews, five are near-identical (lag that cost money, support not answering, evaluations failed without reason, payouts suspended); the firm answered each one that it is “the exact same review format (…) posted multiple times”, part of a “coordinated fake review and blackmail campaign”, said it had reported them to Trustpilot, and denied both the missing support and the suspended payouts. On lag, it says affected traders are “reimbursed promptly”. We cannot verify either side.

Elsewhere: no Reddit thread found; press coverage is press releases (3 September and 2 October 2026, the latter marked “This is a paid press release”) and one trade-news item of 21 July 2026; no independent investigation or review. The competitions page counted 13,407 participants in the launch competition and 21,571 in the October one on 15 October 2026. The oldest Wayback Machine capture could not be established.

11. Where its own documents disagree

All read on 15 October 2026. Where the docs and an older blog post disagree, the docs are the more recent text. The Terms are the contract. We will ask support in writing about the payout schedule, bots and the payout currency, and publish the answers.

12. Our own account

Our own account: an Elite 50K Challenge (FP-56084746) bought by Raphael on 15 October 2026 (receipt not yet published), read the same day. The account shows a $5,000 profit target and a "fixed" floor at $47,500 ($2,500 of static drawdown), exactly as the docs write it, and no daily-loss line among its constraints. One trade: an XPL-USD perpetual long at 1x, priced on Binance data (the ticket offers 2x at most on this market), one fill of $49,702.57 charged $14.91 of fees — 0.03% of the notional, the published crypto rate to the cent. Nothing is executed on an exchange: the account is simulated. No payout: the account is in evaluation.

The constraints panel of FP-56084746 read, word for word, “Floor $47,500 · fixed”. The order ticket added two lines: an exposure cap of $100,000 on XPL and an account exposure cap of $2,000,000 — 40 times the balance, as the Elite page writes. The missing daily-loss line points to the no-daily-loss variant; the receipt, not yet published, will confirm which one was bought. We publish no P&L: it moves, and says nothing durable.

What we will read next on this account, and publish with dates:

1. The receipt: variant, price paid, code used, any store credit.
2. Whether the target follows equity or realised balance (the API exposes both remaining amounts).
3. The hourly swap lines and the absence of funding in the history.
4. The inactivity deadline shown by the dashboard — Roya’s arithmetic says 14 November 2026 for an account started on 15 October 2026.
5. If the account passes: the Sumsub step, the Customer Agreement, the delay to a funded account.
6. A first payout: the Rise invitation, the currency and network offered, the review and delivery delays, the net amount against 80%.

13. Trust Score: 65.3/100

On our grid of 16 October 2026 (weights 20/20/15/10/10/25, method), MyFundedPerps scores 65.3/100, “Fair”, rank 5 of 10 — below Cashed (69.4), above Solana Funded (64.2). It is scored as desk research plus one reading of our own account (tested: no, since nothing has been paid to us); the desk-research cap of 85 is not binding.

• Rules 72. About a hundred documentation pages, readable before payment, with numbers you can compute — 1-Step only, static drawdown, optional daily loss on Elite, no time limit, no minimum days, no consistency rule — and our account shows its floor exactly where the docs put it. Held back by the contradictions in section 11 and by a FAQ whose 106 answers are not served in the page’s HTML: more of them than Cashed (75) or Vest Markets (80).
• Payouts 45. Split, minimum and rhythm are stated; the currency, network and delay are not; every payout goes through a manual review, requests can be paused, the lifetime cap is $100,000, and there is no registry, hash or address. We have received nothing. Below Breakout (55) and Cashed (58), which at least name their payout asset and rail.
• Survival 58. Public for about a month, a Delaware entity we could not find in a registry, paid press releases, no reserve to read on a simulated product. In its favour: a parent brand whose published track record starts in 2023 and named executives in its 3 September release — operational backing, not a legal guarantee, since the company is separate — a 4.4/5 Trustpilot profile, and a site that responds. Above Cashed (45), below Solana Funded (65).
• Freedom 78. An API with an MCP server and a CLI, about 134 markets across five asset classes, news free in evaluation, crypto held over weekends, Elite at 40× on NAS100 and SP500. Held back by 2× to 3× on most altcoins, news windows on funded accounts, 23/5 markets force-closed before the weekend, VPNs banned, fourteen named prohibited strategies, no hedge mode, exposure caps and a narrower bot clause in the Terms.
• Value 74. Elite 50K at $495 with the daily loss (0.99% of the account) or $889 without, Elite 5K from $49, no subscription, a 0.03% crypto commission verified to the cent, a 48-hour refund if untouched, and a discount code. Held back by the hourly swap, the 90/10 split at about +20%, no reset, a $500 payout floor on an Elite 50K and the lifetime cap.
• Roya’s note 18/25. Roya's note is the one subjective criterion in the grid: Roya's own rating after using the firm (interface, execution, support, feel), out of 25. The five others are documentary or measured. On firms we have not traded with our own money, it is an opinion formed without a paid account.

We are MyFundedPerps’ affiliate; the firm did not see this grid before publication, and the score moves only with a dated revision on the scoring page. Every firm side by side: the Trust Score table. Full breakdown: the MyFundedPerps firm page.

14. The ROYA code

ROYA is our affiliate code, −25%; the link below applies it. Two honest caveats. On the day we read our dashboard, the firm’s own public code gave a bigger discount on Elite (see the table in section 4). And MyFundedPerps' own affiliate documentation says a first purchase made with an affiliate code receives the greater of the affiliate's standard discount and the platform's first-purchase discount; we have not verified that on a purchase made with ROYA. The code is never a reason to buy: read the static floor and the daily-loss option first, and buy the smallest size that lets you test the rules.

15. FAQ

Where that leaves a trader

MyFundedPerps writes its rules the way a buyer needs them, and on our own account the rules and the fee are exactly where the docs put them. What it does not give you is a way to check the money: simulated accounts, payouts from the company’s own funds through Rise after a manual review, no published currency, delay or record, a brand that is a few weeks old and borrows a track record that belongs to another company. If that trade-off suits you, start small, read the floor and the daily-loss option before anything else, and keep a trade executing inside 30 days. If you need payouts you can verify before paying, compare with the firms in our Trust Score table that have paid us on-chain.

18+ · a challenge is a paid evaluation, you can lose the fee, payouts never guaranteed. MyFundedPerps accounts are simulated; nothing here is investment advice or a promise of profit.

Sources: docs.myfundedperpetuals.com (index, challenges and rules, Elite accounts, payouts, commissions and fees, billing, affiliate program, trading guide), Terms of Use, Refund Policy, Privacy Policy, Disclaimer (all “September 2026”), the public API (/v1/markets, /v1/restricted-countries), the homepage, FAQ, competitions and blog pages, Trustpilot (as cached around 28 September 2026), the press releases of 3 September and 2 October 2026 and a trade-news item of 21 July 2026 — all read on 15 October 2026, 16:19–16:27 UTC; our own account the same evening; our affiliate dashboard on 16 October 2026. Related: MyFundedPerps promo code ROYA · verified payouts · Trust Score.