My Funded Futures evaluation rules and information are important to understand. Especially if you are new to the world of funded futures, learn all about how to manage your evaluation with My Funded Futures. Below is information about all aspects of your futures trading evaluation.
Note that I do my best to keep every page up to date, but sometimes firms update their rules, policies and procedures. Be sure to visit the My Funded Futures faqs for the latest information.
Progressing Through The Evaluation at My Funded Futures
Navigating the evaluation journey with MFFU is a structured and rewarding process. It’s meticulously designed to not only assess your trading acumen but also to prepare you for real-world trading scenarios. Here’s a comprehensive guide on how you can progress through the evaluation, what to expect at each stage, and how to ascend to the subsequent levels.
Steps and Stages in the Combine
- Initial Evaluation:
- Objective: This stage is primarily to assess if you possess the necessary skills to trade effectively. You’re provided a virtual account with a specific balance, and you’re expected to meet certain profit targets while adhering to the trading rules.
- Duration: There’s no set number of trading days for this stage. It’s more about showcasing your trading prowess and achieving the set objectives.
- Focus: The emphasis here is on risk management, achieving consistent profits, and adhering to the trading rules.
- Simulated Funded Stage:
- Objective: The primary goal here is to demonstrate consistency in your trading over time and to take payouts as per the payout policy.
- Duration: This stage is more extended, ensuring traders can maintain their performance over a more extended period and showcase their ability to achieve consistent profits.
- Focus: While profitability is crucial, the emphasis is also on risk management and demonstrating a consistent trading strategy over time.
- Live Funded Account:
- Objective: This is the pinnacle stage where you get to trade in real-world scenarios with real money. The goal is to trade responsibly, achieve profits, and grow the account.
- Duration: Indefinite. As long as traders adhere to the rules and remain profitable, they can continue trading.
- Focus: Real-world trading scenarios, managing emotions, and leveraging advanced strategies for long-term success.
What to Expect at Each Stage
- Initial Evaluation:
- Outcome: Successful traders who demonstrate their ability to trade effectively are awarded a simulated funded account.
- Simulated Funded Stage:
- Outcome: The primary goal is to show consistency over time and take payouts according to the payout policy. Successful traders then progress to the live funded account stage.
- Live Funded Account:
- Outcome: This is where your trading journey truly takes off. You get to trade live markets, which is the ultimate goal at MFFU.
Moving to the Next Level
- Consistent Performance: Consistency is key. It’s not just about hitting profit targets but doing so consistently over time.
- Adherence to Rules: Adhering to MFFU’s trading rules is paramount. This includes avoiding violations like surpassing the daily loss limit or engaging in prohibited trading strategies.
- Continuous Learning: MFFU values traders who are committed to continuous learning. Engaging with the community, participating in webinars, and seeking feedback can positively influence your progression through the stages.
In Conclusion
MFFU’s evaluation process is both rigorous and rewarding. By the time traders reach the live funded account stage, they are well-equipped with the skills, discipline, and strategies to succeed in the real world of trading. Each stage is a learning opportunity, making the journey both challenging and fulfilling.
Understanding The Evaluation Process
At MFFU, they believe in providing traders with a clear path to success. A significant part of this journey involves understanding the evaluation parameters that guide your trading experience. These parameters are not just arbitrary rules; they are designed based on years of market experience and are aimed at fostering disciplined and profitable trading habits.
Explanation of Parameters
Before diving into strategies and trades, it’s essential to grasp the parameters that will be evaluating your performance:
- Profit Target: This is the predetermined profit amount you aim to achieve within the evaluation period. It serves as a benchmark for your trading success.
- Maximum Drawdown: This is the maximum allowable loss from the peak of your account balance. It’s a safety net, ensuring that traders don’t risk too much capital.
- Daily Loss Limit: This parameter sets a cap on how much you can lose in a single trading day. It’s designed to prevent spiraling losses on particularly volatile days.
- EOD (End of Day) Drawdown: This refers to the drawdown that is pegged to your positive account performance and is adjusted at the end of the trading day. If you increase your profit by $1.00, then your minimum account balance will also rise by $1.00. This mechanism ensures that traders are rewarded for positive performance by providing them with a cushion against potential future losses.
- Consistency Rule: This rule ensures that traders don’t swing wildly in their trading sizes or strategies. It promotes steady and consistent trading habits.
- Minimum Trading Days: Some evaluations require traders to trade for a minimum number of days to ensure they are genuinely engaged and not just taking wild risks hoping for a lucky break.
Importance and Impact on Trading
Understanding these parameters is not just about compliance; it’s about internalizing the principles of disciplined trading:
- Risk Management: The Maximum Drawdown, Daily Loss Limit, and EOD Drawdown parameters are quintessential for instilling robust risk management habits. They ensure that traders don’t get carried away by emotions and make impulsive decisions that can jeopardize their account.
- Goal Orientation: The Profit Target parameter gives traders a clear goal to strive for. It encourages forward planning and strategic thinking.
- Consistency: The Consistency Rule ensures that traders develop a steady trading rhythm, which is crucial for long-term success in the markets.
Managing Your Trading Accordingly
With a clear understanding of these parameters, here’s how you can tailor your trading:
- Plan Your Trades: Always have a clear entry and exit strategy. Know your stop-loss and take-profit levels before entering a trade.
- Monitor Your Performance: Regularly check your performance against the evaluation parameters. If you’re nearing the Daily Loss Limit, it might be wise to stop trading for the day.
- Stay Informed: Keep abreast of market news and events. External factors can significantly impact the markets, and being informed will help you make better trading decisions.
- Seek Feedback: Don’t hesitate to reach out to the MFFU community or support team for feedback or clarifications on your trading or the evaluation parameters.
In Conclusion
The evaluation parameters at MFFU are not just rules but guiding principles designed to mold you into a disciplined and successful trader. By understanding and respecting these parameters, you set yourself up for a rewarding trading journey with MFFU.
Scaling Plan Information and Contract Sizing
Each account size has a limited number of contracts you are allowed to buy or sell at any given time.
For Example:
- $50K Account 5 Contracts
- $100k Account 10 Contracts
- $150k Account 15 Contracts
This applies to whether they are micros or minis as well they all have the same limits. This sizing does not include scaling. The starter plan also has 1:10 scaling for Micros.
Maximum End of Day (EOD) Drawdown
My Funded Futures they wanted to eliminate the daily drawdown so that MFFU Traders could relax without having to worry about the constant drawdowns affecting their accounts and mindset. MFFU do not have a daily drawdown but they will have a Max EOD (End of Day) Drawdown which will be set at 3%. Also to be noted the Max EOD trailing locks in at $100 plus the initial starting balance
Examples:
- $50k is $52k + $100 which is $52.1k
- $50K Accounts have 4% DD
- $100k is $103k + $100 which is $103.1k
- $150k is $154.5k + $100 which is $154.6k
Consistency Rule
There is no consistency rule on the challenge phase. However in the simulated funded stage there is a 40% consistency rule. Also there is no Consistency rule on the Expert plans
The 40% consistency rule during the simulated funded stage means that the profits from one trading day can not equal or be greater than 40% of total profits made.
You **CANNOT WITHDRAW** any of your profits if any of the trading days is made equal or greater than 40% of the total profits. If you exceed this the account will not be breached, but you will have to trade and make more profits until you have made in each of your trading days less than 40% of total profits made.
What should traders do if they make more than 40% of the total profits in one trading day?
If you make a total of $10,000 in sim profits and in one day you have made $4500 which is beyond the 40% consistency rule then you MUST continue trading and make more profits until the profits of every trading day will be less then 40% of total profits. *For example: if you make $2,000 more profits, the total profits made will be $12,000 and now $4500 will be less than 40% of total profits made, so you will be able to withdraw.
“Violating the 40% consistency rule will not terminate your account. However you will have to trade and make more profits until the 40% consistency rule is respected in order to be able to withdraw your profits.”
Minimum Trading Days for My Funded Futures
At My Funded Futures, they have established a minimum requirement for trading days, ensuring that traders actively participate in the market and engage in trading activities. The minimum trading days for each account type and phase is set at 1 day. Here’s a more detailed description:
1. Account Types: MFFU offer different account types tailored to meet the varying needs and goals of traders. Regardless of the account type chosen, all traders are expected to meet the minimum trading day requirement.
2. Phases: MFFU trading programs consist of different phases designed to assess and evaluate a trader’s performance over time. Whether traders are in the evaluation phase, trial phase, or funded phase, the minimum trading day requirement remains consistent.
3. Minimum Trading Days: To ensure active participation and commitment to the trading process, MFFU have set the minimum requirement at 1 trading day. This means that traders must engage in at least one day of trading activity within their account to fulfill this requirement.
By establishing a minimum trading day requirement, MFFU aim to encourage traders to actively analyze the markets, execute trades, and demonstrate their trading skills. This requirement also provides an opportunity for traders to track their progress, evaluate their strategies, and make necessary adjustments to optimize their trading performance.
Please note that while the minimum trading day requirement is set at 1 day, My Funded Futures encourage traders to engage in consistent trading activities beyond the minimum requirement to gain valuable experience, refine their strategies, and increase their chances of meeting performance targets.
Prohibited Trading Practices
The simulated market, while a robust and close approximation of live trading conditions, isn’t without its disparities. At My Funded Futures (MFFU), they recognize the challenges this presents to MFFU’s platform, MFFU’s funding partners, and most importantly, MFFU’s traders. Ensuring a fair, transparent, and equitable trading environment is paramount to us, and as such, they’ve established policies to safeguard against practices that exploit the simulated environment or misalign with ethical trading.
Understanding the Simulated Market Challenges
Certain trading strategies may exploit the simulated fill algorithm, performing well in the evaluation phase but inevitably resulting in losses when transitioned to live markets. A small subset of traders, either inadvertently or with the intent to manipulate the system, engage in these strategies, which are strictly prohibited at MFFU.
Section 1: Automated Trading Protocols
In the realm of automated trading, MFFU enforces stringent guidelines to maintain a fair and transparent trading environment:
- Automated Scalping: The platform restricts the use of automated systems designed for ultra-high-frequency scalping, particularly those resulting in over 200 trades per day.
- Automated Tools: The use of AI, bots, and other automated trading mechanisms is strictly prohibited across all account types.
- Semi-Automated Trading: This is permissible under the condition that traders actively monitor, manually manage, and understand the system and semi-automation’s purpose.
- Automated Behavior: Any form of hands-off, continuous day and night trading, or any other type of full automation is strictly forbidden.
Section 2: Order Management and Market Conduct
MFFU emphasizes ethical trading practices and order management to ensure a stable and reliable trading environment:
- Order Placement: Simultaneously placing multiple limit orders at the same price to manipulate order fills is prohibited.
- Gapped or Illiquid Market Trading: Initiating trades to profit from isolated fills in these markets is not allowed.
- Slippage and Bracket Usage: Exploiting the absence of slippage and utilizing tight brackets to gain from favorable fills are not permitted.
- Tier 1 Economic Data Trading: Engaging in trades during tier 1 economic data releases is restricted.
- Compliance with CME Group Rules: All trading activities must adhere to CME Group’s rules and regulations.
- Collaborative Trading: Collaborating with others to execute identical or opposite strategies across unconnected accounts is prohibited.
Section 3: Termination Policies and Violation Consequences
MFFU holds the right to enforce strict consequences in the event of policy violation:
- Termination: MFFU reserves the right to terminate agreements immediately in the event of any breach by the trader.
- Profit Confiscation: Profits generated from prohibited trading practices will be confiscated.
- Evaluation Review: All passed evaluations are subject to review, and traders found guilty of policy ignorance or abuse will not be funded and may not be eligible for refunds.
Commitment to Ethical and Fair Trading
At MFFU, they deeply value your adherence to these guidelines as they collectively navigate towards a prosperous trading future. Their policies are crafted to protect traders and the firm, ensuring a viable and supportive platform for authentic trading skill development. They encourage all MFFU traders to trade ethically, respecting the guidelines and the platform, to create a sustainable and profitable trading environment for all.
Trading Hours
18:00-16:10 EST (Eastern Standard Time / NY Time)
OR 06:00 PM – 04:10 PM EST (Eastern Standard Time / NY Time)
Note: Trades will automatically close at 4:10 PM / 16:10 – It will not result in a breach of the account
Static $30K Account FAQs
The 30K Static Account is designed to provide traders with the flexibility of a static drawdown that never changes, along with the ability to take full payouts after 60 days from the account, excluding $1, without losing the account. This unique offering is tailored for MFFU valued traders.
Types of Accounts in the 30K Static Evaluation Plan
- 30K Static Evaluation Pro Account
- 30K Static Evaluation Standard Account
The 30K Static Pro Version
My Funded Futures are thrilled to announce the new 30K Static Pro version of the evaluation. Traders will have the ability to maintain a maximum static drawdown of $2500, providing greater confidence during the evaluation and Sim Funded stages.
The profit target for the 30K Static Pro account is set at $4200, achievable with a maximum of 2 mini contracts and 20 micro contracts. Consistent with all Static accounts, there is no consistency rule in the Sim Funded stages. However, there is a $2500 withdrawal cap for the first 60 days, and traders will be eligible to take a payout every 14 calendar days.
The 30K Static Standard Account
MFFU have also enhanced the Standard Static Account. The profit target is now $2500, and the static drawdown is set at $1500. These changes ensure that traders are not limited by an end-of-day drawdown at any time. Additionally, they have reduced the maximum contracts to 1 mini and 10 micros.
The adjustments are designed to facilitate traders’ successful completion of the evaluation and transition to the live account. By limiting the contract size, MFFU are confident that traders will exercise prudent risk management and generate consistent profits.
As with all Static accounts, there is no consistency rule in the Sim Funded stages. There is a $1500 withdrawal cap for the first 60 days, and traders will be eligible to take a payout every 14 calendar days.
Why Choose the Static Account?
The best growth factor in the industry. Once you gain the buffer by trading small, you’ll unlock the potential for compounding. With the drawdown staying static, you’ll have more opportunities to remain in the market without worrying about the trailing drawdown that typically occurs when you start the account.
Keeping Payouts in Your Pocket
My Funded Futures have created Static Accounts for traders transitioning to the Sim Funded accounts. When you move to the Sim Funded status, you don’t need to worry about the buffer and any form of consistency rules. You can trade $1000 for 14 calendar days and then be eligible to take a payout.
Features of MFFU 30K Static Account
- No Consistency Rules: MFFU have removed the consistency rules for payouts like the Express Accounts, allowing traders the freedom to trade with the allowed lot size when their setup forms.
- No Payout Restrictions After 60 Days: For the first 60 days with Static Accounts, you’ll have a payout cap on both the Pro and Standard Account for the 14-day calendar period. After that, you’ll have the full ability to trade the account and withdraw the full amount by leaving only $1.
- No Activation Fees: There is no activation fee for the Static Accounts. Once you pass the account, after the MFFU funding team reviews your account, you’ll be able to trade the account.
30K Static Account Pro and Standard – Full Feature Explanation
Features | 30K Static Pro | 30K Static Standard |
Profit Target | $4200 | $2500 |
Drawdown (Static) | $2500 | $1500 |
No. of Contracts | 2 minis / 20 micros | 1 mini / 10 micros |
Payout | $2500 every 14 days after 60-day cap removed | $1500 every 14 days after 60-day cap removed |
Activation Fees | None | None |
Percentage of Profit to Drawdown | 8% DD / 14% Profit Target | 5% DD / 8% Profit Target |
Pricing | $500/month | $300/month |
Permitted Products and Trading Times
You can trade the same products with the same times as all other accounts in the MFFU program.
Explanation of Drawdown
Day | PNL | Drawdown | Maximum Drawdown | Account Balance |
1 | $200 | $1700 | $28,500 | $30,200 |
2 | $700 | $2400 | $28,500 | $30,900 |
3 | -$500 | $1900 | $28,500 | $30,400 |
4 | $1000 | $2900 | $28,500 | $31,400 |
From the above tabulation, you can see the potential of the trading conditions that the Static Account offers. Once you gain momentum, you’ll be rewarded. However, when you experience drawdowns, they won’t be overwhelming, and you can effectively manage your risk during challenging days.
Starter Account Revamp Information (July 2024)
At My Funded Futures, they believe that a trader’s career hinges on their ability to progress without compromise. My Funded Futures goal is to support this progression from simulated funding stages to live funding stages, ensuring every trader has the opportunity to succeed.
Introducing the new Starter Account at My Funded Futures!
The Main Objective: Transition to Live Funding
My Funded Futures primary objective is to guide traders toward stable income and promote them to a live funding environment. My Funded Futures are confident that MFFU new offering can achieve this goal.
The Starter Plan is designed to nurture a mindset focused on steadily growing the account.
Note: In the evaluation stages there aren’t any consistency rules. So, it is said to always be a one-day-pass evaluation.
Benefits of the Starter Account
- Easiest Path to Live Funding: MFFU seek consistent traders who can potentially be utilized for proprietary funding methods.
- Potential Weekly Payouts: After five winning days, traders can receive payouts. 5 days of $100 (50K account), $200 (100K account), or $300 (150K account).
- Daily Loss Limits: These limits ensure you have another day to survive in the markets. Daily Loss Limit does not disqualify your account
- Competitive Pricing: MFFU offer a low barrier of entry with some of the most competitive prices in the market.
- No Buffer Zone: MFFU are removing the buffer zone concept in MFFU’s starter plans! As soon as you reach 5 profitable days you are eligible for a payout! Drawdown will move to balance +100 at payout request
Starter Account Parameters
Parameters | Starter 50K | Starter 100K | Starter 150K |
Profit Target | $3,000 | $6,000 | $9,000 |
Maximum Loss Limit | $2,500 | $3,500 | $5,000 |
Daily Loss Limit | $1,200 | $2,400 | $3,600 |
Price | $80 | $150 | $220 |
Reset | $50 | $70 | $100 |
Max Contract | 3 minis | 6 minis | 9 minis |
Scaling | Yes | Yes | Yes |
Consistency | 40% | 40% | 40% |
Qualification for Payouts | 5 winning days of $100/ possibility of weekly payouts | 5 winning days of $200/ possibility of weekly payouts | 5 winning days of $300/ possibility of weekly payouts |
Withdrawal Limit | Up to $1,200 for each payout until 30 winning days or $6,000 in payouts achieved. After the first payout, Maximum Loss Limit moves to $50,100 | Up to $2,400 for each payout until 30 winning days or $12,000 in payouts achieved. After the first payout, Maximum Loss Limit moves to $100,100 | Up to $3,600 for each payout until 30 winning days or $18,000 in payouts achieved. After the first payout, Maximum Loss Limit moves to $150,100 |
Live Funding | Static Account with $2,500 in balance. Eligible after 30 winning days or $6,000 in payouts | Static Account with $3,500 in balance. Eligible after 30 winning days or $12,000 in payouts | Static Account with $5,000 in balance. Eligible after 30 winning days or $18,000 in payouts |
Profit Split | 90/10 after $10,000 in withdrawals | 90/10 after $10,000 in withdrawals | 90/10 after $10,000 in withdrawals |
Activation Fee | None | None | None |
Withdrawal Limitations for Starter Sim Funded Plans
To ensure solid capital standing and a safety net for transitioning to live funding stages, there are limitations on withdrawals:
Account Size | Max Payout after 5 Winning Days |
50K Account | $1,200 |
100K Account | $2,400 |
150K Account | $3,600 |
After accumulating 30 winning days or reaching the maximum payouts in the sim funding stages you will be moved to a live account with even more freedom!
The Scaling Plan: Ensuring Safe Growth
The scaling plan is implemented to prevent over-leveraging and to promote consistent account growth. Known as the Piggy Bank method at My Funded Futures, it allows you to scale micros, enabling easy partials and daily account growth.
Account Size | 50K Starter Plan | 100K Starter Plan | 150k Starter Plan |
Below $1,000 | 1 mini – 10 micros | 2 minis – 20 micros | 2 minis – 20 micros |
$1,000 – $2,000 | 2 minis – 20 micros | 3 minis – 30 micros | 3 minis – 30 micros |
$2,000 – $3,000 | 3 minis – 30 micros | 4 minis – 40 micros | 4 minis – 40 micros |
$4,000 – $6,000 | – | 6 minis – 60 micros | 6 minis – 60 micros |
Above $6,000 | – | – | 9 minis – 90 micros |
The Starter Plan aims to provide a solid foundation for your trading career. Achieving consistent success for 30 trading days with a starter account will qualify you for a live funding account, marking a significant milestone in your trading journey.
Frequently Asked Question:
- Are there any consistency rules in the evaluation?No, there aren’t any consistency rules in the evaluation, the starter evaluation is said to be a one-day pass at all times.
- Is scaling rule present in the evaluation?Scaling rules are not present in the evaluation. But it is present in the Sim Funded stages.
- Will hitting the Daily Loss Limit fail my account?The Daily Loss Limit is said to be a soft-breach and stops you for the trading day to prevent traders from Tilt.
- Are there any buffer zones in the Starter Account payout policy?No, there isn’t any buffer zone whatsoever on the New Starter Accounts. You will be able to take withdrawals after reaching 5 winning days as low as $250.
- Are there any activation fees? MFFU new starter accounts do not have any activation fees.
Permitted Trading Times
What are the permitted times to trade the markets with MFFU?
Trades can be placed starting at 6:00 PM EST at the Globex Open and can be held through until the 4:10 PM EST NY session close.
What happens if I do not close the trade?
At My Funded Futures, positions will be closed for you during regular trading days at 4:10 PM EST. So, you need not worry about breaching the rule.
Note: Make sure that you don’t force a trade multiple times on the market after 4:10 PM EST, as this will sometimes cause the order to go through and disqualify your trading account.
Can I trade the Globex Opening at 06:00pm EST, will I get the fill?
Yes, you can trade between the specified times. However, please note that even if you are at the sim funded or sim evaluation stages, My Funded Futures do not recommend trading when the markets are said to be illiquid. This can cause issues with the position.
Illiquid hours are allowed to trade, but at the traders own discretion. This is also applicable for holiday trading hours as well.
Holiday Hour Trading:
During holiday trading hours, auto-liquidation will not occur at the half-time market close, and the trader is responsible for closing the positions.
- Please note the times that you’re allowed to trade.
- Failure to close the positions before the market closes will result in breaching of the account. Both evaluations and Sim Funded Accounts
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Risk Disclosure:
Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Hypothetical Performance Disclosure:
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight.
In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
You can read more here: Risk Disclosure
Affiliate Disclosure:
The external links on my site and in my video descriptions to trader evaluation companies and software companies are primarily affiliate links. I earn a commission from these companies on any sale made from people visiting these links. That said, I only recommend companies and software I personally use and actually do recommend. Believe me, I turn down a lot of companies who approach me. You can read my full Affiliate Disclosure here.
Additional Disclosure:
The content provided is for informational purposes only. I do my best to keep the content current and accurate by updating it frequently. Sometimes the actual data, rules, requirements and other can differ from what’s stated on our website. CanadianFuturesTrader.ca is an independent website. You should always consult the rules, faqs, knowledge base and support of any of the websites and companies we link to or talk about on our site. The information on their site will always be what ultimately dictates the current rules of their program, software or other. While we are independent, we may be compensated for advertisements, sponsored products, or when you click on a link on our website. The contributors and authors are not registered or certified financial advisors. You should consult a financial professional before making any financial decisions.