When My Forex Funds collapsed in August 2023, over 135,000 traders discovered a costly gap in their setup: they had no independent trading journal. All their historical trades, notes, and performance data were locked inside MFF’s dashboard — a platform they could no longer access. If you are searching for a My Forex Funds alternative, the need is almost certainly not another prop firm. It is a journal that works independently of any platform that can be shut down. JournalPlus is built for exactly this: an independent, MT4/MT5-native trading journal that tracks the analytics MFF’s dashboard never offered.
My Forex Funds Overview
My Forex Funds was a Canadian-based proprietary trading firm that offered two-phase evaluation challenges and instant-funding accounts for forex and commodities traders. At its peak it had over 135,000 funded traders, making it one of the largest prop firms in the world. The CFTC and Ontario Securities Commission froze its assets in August 2023, citing allegations of fraud against founder Murtuza Kazmi. The firm managed over $310M in alleged customer deposits at the time of shutdown.
What MFF did well:
- Aggressive challenge rules with relatively low cost-to-account-size ratios
- Same-day or next-day payouts during peak operating period
- Instant-funding tracks that bypassed the two-phase evaluation
- Broad instrument access including forex majors, minors, and metals
Common limitations traders reported:
- Dashboard showed only challenge compliance metrics: daily drawdown used, total P&L, and days traded — nothing analytical
- No session-level breakdown; traders could not identify whether their edge came from London open, NY overlap, or Asian session
- No R-multiple or expectancy calculation; all performance was measured in raw dollars
- No data export — when MFF shut down, traders had zero recovery path for historical trade data
Why Traders Switch to JournalPlus
Your Journal Cannot Be Seized
The core lesson from MFF’s collapse is that trade data stored exclusively inside a prop firm’s platform is not your data. Over 135,000 traders lost access to months of trading history overnight. JournalPlus stores your journal in your account, exportable at any time as CSV. No regulatory action against a third party can take your trade history.
MT4/MT5 Import Means Zero Friction Onboarding
MFF ran on MetaTrader 4 and MetaTrader 5 — platforms that account for roughly 70% of the retail forex market. If you traded MFF through a connected broker like ICMarkets or EightCap, you already have an MT5 account statement. JournalPlus imports it directly: go to your broker’s MT5 terminal, export the Account Statement as HTML or CSV, and upload. Your trades appear with entry, exit, size, and P&L populated automatically. Tagging by session and setup takes minutes.
Session Analytics Surface the Edge MFF’s Dashboard Hid
Consider a GBPUSD scalper who was 18 days into a $50,000 MFF challenge — profit target $3,000, max daily loss $2,500 — when the CFTC froze MFF’s assets. She had no external journal; all 200-plus trades were locked in MFF’s dashboard. Starting fresh on FTMO, she imports her MT5 history from her personal ICMarkets account into JournalPlus, tags each trade by session (London open vs. NY overlap), and discovers her win rate during NY overlap is 61% versus 38% during the Asian session. MFF’s dashboard never surfaced this split. She narrows her trading to 7am–11am EST and passes her FTMO $50K challenge in 23 days.
This is the analytical gap MFF left open. Win rate by session, average R by setup, and drawdown by day of week are all standard views in JournalPlus — none of them existed in MFF’s compliance-focused interface.
Multi-Account View for Traders Running Prop Plus Live
Many prop traders run an FTMO or Apex challenge alongside a personal live account. MFF’s dashboard tracked one account. JournalPlus consolidates unlimited accounts into a single analytics view, so a trader with an FTMO $100K challenge and a $5K personal futures account can see their combined win rate, aggregate expectancy, and true R-multiple distribution — not siloed numbers that obscure their real edge.
Drawdown Alerts Enforce the Discipline Prop Firms Require
JournalPlus lets traders set a custom daily drawdown alert as a percentage or dollar amount. Setting an alert at 4% on a firm with a 5% hard limit creates a buffer — the same discipline MFF’s daily loss rule was designed to build. This alert travels with you across every firm you trade, not just the one that issued the challenge.
Feature Comparison
| Feature | My Forex Funds | JournalPlus |
|---|---|---|
| Platform independence | No — data locked to MFF platform | Yes — trader-owned, always exportable |
| MT4/MT5 import | MFF sync only (now defunct) | Native import from any MT4/MT5 broker |
| Session analytics | Not available | Win rate and R broken down by London, NY, Asian |
| R-multiple tracking | Not available | Automatic per trade from defined stop |
| Multi-account view | Single account only | Unlimited accounts, unified dashboard |
| Daily drawdown alerts | Visual indicator, not configurable | Custom threshold alerts per account |
| Setup tagging | Not available | Unlimited custom tags per trade |
| Data export | Not available | Full CSV export at any time |
| Pricing | Free with challenge (firm defunct) | Free (50 trades/mo), $19/mo, or $159 lifetime |
Pricing Comparison
MFF’s analytics dashboard had no separate charge — it was bundled into challenge fees ranging from approximately $149 for a $10,000 account to $549 for a $200,000 account. The dashboard is now inaccessible. JournalPlus is a standalone product with transparent pricing independent of any prop firm.
| Period | MFF Dashboard | JournalPlus Monthly ($19/mo) | JournalPlus Lifetime ($159) |
|---|---|---|---|
| 1 month | $0 (defunct) | $19 | $159 |
| 6 months | $0 (defunct) | $114 | $159 |
| 1 year | $0 (defunct) | $228 | $159 |
| 2 years | $0 (defunct) | $456 | $159 |
| 3 years | $0 (defunct) | $684 | $159 |
The lifetime plan at $159 breaks even against the monthly plan at 8.4 months. After that, every month of monthly billing adds $19 in cost. The free plan (50 trades per month) covers traders in a light review phase or running a tight challenge where daily trade counts are low.
MFF offered no refund policy and the challenge fee was non-refundable — a particularly painful structure given that 70–90% of prop firm challenge takers fail their first attempt. JournalPlus is a journal tool with no pass/fail outcome tied to your subscription.
How to Switch to JournalPlus
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Recover your MT4/MT5 history from your broker. MFF trades were executed through connected brokers (ICMarkets, EightCap, and similar). Log into your broker’s MT4 or MT5 terminal, go to Account History, right-click, and select “Save as Report” (HTML) or export as CSV. This covers all trades executed on that broker, including your MFF-era history.
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Create your JournalPlus account. Sign up at journalplus.co. The free plan covers 50 trades per month and includes full analytics — enough to verify the import works before committing.
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Import your MT5 statement. In JournalPlus, go to Import, select MetaTrader 5 (or MT4), and upload the file from step 1. Trades populate automatically with entry, exit, size, symbol, and P&L. Review the import summary to confirm trade count matches your records.
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Tag by session and setup. Use JournalPlus’s bulk-tag feature to assign sessions (London open: 3am–5am EST; NY overlap: 8am–12pm EST; Asian: 7pm–12am EST) to historical trades. This one-time tagging step is what unlocks session-level analytics.
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Configure your new prop firm’s rules. If you have moved to FTMO, Apex, or Topstep, create a separate account in JournalPlus for that challenge and set the daily drawdown alert to match the firm’s hard limit. See the FTMO setup guide and Topstep guide for firm-specific threshold values.
Frequently Asked Questions
Is JournalPlus a replacement for My Forex Funds?
JournalPlus is not a prop firm — it does not fund traders. It replaces the journaling and analytics function that MFF’s dashboard provided, with far more depth. For prop firm funding after MFF, traders are moving to FTMO, Apex Trader Funding, or Topstep.
Can I import my MFF trade history into JournalPlus?
If you exported your MT4 or MT5 account statement from your MFF-connected broker (ICMarkets, EightCap, or similar) before the shutdown, JournalPlus can import it directly. MFF’s own dashboard did not provide a trade export, so traders who relied solely on MFF’s interface have limited recovery options for pre-shutdown history.
Which prop firms does JournalPlus work with now?
JournalPlus works with any firm that uses MT4, MT5, or provides a trade history CSV. This includes FTMO, Apex Trader Funding, Topstep, and The 5%ers. Each challenge can be tracked as a separate account with its own drawdown thresholds.
How much does JournalPlus cost?
JournalPlus is free for up to 50 trades per month. The paid plan is $19/month or $159 as a one-time lifetime purchase. Over 12 months the monthly plan totals $228; the lifetime plan costs $159 regardless of how long you trade.
Does JournalPlus track the daily loss rules common in prop firms?
Yes. JournalPlus lets traders set a custom daily drawdown alert as a percentage of account equity or a fixed dollar amount. Setting it to 4% on a firm with a 5% hard limit gives a warning buffer before hitting a rule violation — a standard practice among experienced prop traders.
What happened to My Forex Funds?
The CFTC and Ontario Securities Commission filed charges against MFF founder Murtuza Kazmi in August 2023, alleging fraud. The firm managed over $310M in alleged customer deposits and had more than 135,000 funded traders at its peak. Assets were frozen and the platform became inaccessible, leaving active challenge traders without access to their accounts or trade history.
Will JournalPlus shut down like MFF did?
JournalPlus is a software tool, not a financial firm holding client funds. There is no regulatory risk analogous to a prop firm. The $159 lifetime purchase includes full data export at any time — traders always retain their own records, independent of JournalPlus’s continued operation.
For traders rebuilding after MFF, the first step is separating your journal from any prop firm’s platform. Whether you move to FTMO, The 5%ers, or a personal account, your edge data should follow you — not stay locked inside a dashboard you cannot control. See also the forex trading journal guide and MetaTrader 4 import guide for setup details.