The largest FX prop firm named MyForexFunds stopped working now, are they out of business ?

[destriero]

Today I got this message, because I could not make a trade nor did I get any current payouts.

"
Traders

Yesterday we learned that, without prior notice or discussion, a provincial securities regulator in Canada and the commodities regulator in the United States issued orders preventing us from trading securities or accessing funds in our bank accounts.

Until these freeze orders are lifted or modified, our business is effectively, and at least temporarily, frozen as well.

We will be reaching out to the regulators to discuss their concerns, and the first court date to determine whether the freeze orders should be lifted or modified is currently scheduled for September 11 in the US, with another hearing later that same week in Canada.

We hope to have this matter resolved as soon as possible and will update this message as events occur."

What does this mean for MFF ? Anyone can explain ? Is this a shutdown or only temporary halt ? They owe me over $10k in payouts, so it is concerning me.

As the complaint noted, the Traders Global pitch has been successful, and more than 135,000 customers have signed up for their trading program since November 2021, paying at last $310 million in fees. The complaint alleges Kazmi used proceeds from the fraud to purchase luxury homes and automobiles, and make tens of millions of dollars in transfers to his personal accounts.

 

[FTDK]

I've spent enough time discrediting Apex. Since they're blatantly open about having you on a simulated account you can know for a fact that a win for you is a loss for them. It's really simple.

Why the hell would they want you to win and pay you? And please. Save your breath if you're talking about withdrawing $1000 bucks.

Which poster was that?



Well, you don't know the facts. It's all smoke and mirrors. Yet, you choose to give them the benefit of doubt.

My assumptions which are based on rationality, logic and common sense are quite sound.

But if you want to believe otherwise, feel free to do so at your own risk.

I am not giving anyone the benefit of the doubt nor am i saying it isn't possible they are scammers.

I simply stick to the facts i have available.

If you want to know what poster it was you could simple use the search function, maybe something you should do more often, research before making accusations you can't back up with evidence.

The main issue with Myforexfunds isn't that they didn't put traders in live accounts (however it still is an issue since they promised it), the main issue is the fact that they used tricks to make sure their clients lost, major difference. If a firm funds traders and initially keeps them on demo and then put them on live as promised then it's a win win for both. The MFF shit PROVES that, you can stick to your opinion, i couldn't care less, but that doesn't make it true at all.

You talk about me believing whatever, yet you are the one who believes whatever he wants without the evidence to back it up. For now there is 0 evidence firms like Apex, E2T or Topstep are using tricks to make sure traders lose and from all 3 firms there are posts and for some even video evidence of orders going in the order book.

I am going to leave it here, no point in arguing with someone who bases his opinion on nothing and then say others are delusional.

 

[TrAndy2022]

The problem is that MFF is the biggest of its kind and have the fairest rules among all of such prop firms. If they get punished and then it will have a huge Domino effect, but all the other ones are less fair to their customers. The only option would be going very offshore for any prop.

 

[FTDK]

No offense, but you come across as a bit of a clown. My Forex Funds got busted and here you are defending these firms still giving them the benefit of doubt.

For all I know, you may be Darrel Martin or associated in some other way.



Here's what you wrote in Sekiyo's journal in early August. Quite amusing actually.

Who the hell opens an account with a bucket shop in order to prove 'haters' wrong? Did you withdraw your thousand bucks yet to prove the 'haters' wrong?

Thanks for the comical relief.

Keep twisting my words, it's all you can do, i am not defending anyone, i stick to the facts that are available.

Keep proving what a fool you are, i love it.

Clown? I guess it takes one to know one? I might come across as one, you are one.

 

[destriero]

The problem is that MFF is the biggest of its kind and have the fairest rules among all of such prop firms. If they get punished and then it will have a huge Domino effect, but all the other ones are less fair to their customers. The only option would be going very offshore for any prop.

There are no funds. It’s a sim/bucket shop and you’re trading against a quote feed. There was no counter-party. It was all a sim like all of these FX backers.

in 3-5 years you’ll receive a few pennies on the dollar.

 

[Laissez Faire]

Keep twisting my words, it's all you can do, i am not defending anyone, i stick to the facts that are available.
Keep providing what a fool you are, i love it.

Clown? I guess it takes one to know one? I might come across as one, you are one.

Let us know when you withdrew your $1000 bucks from bucket shop Apex and 'proved the haters on ET wrong'.

LOL.

Again, thanks. Much needed this morning.

 

[DevBru]

I am going to leave it here, no point in arguing with someone who bases his opinion on nothing and then say others are delusional.

That's the issue with social media and forums these days, a lot of clowns calling other people clowns with an opinion as valuable as one of a flat earther.

 

[Laissez Faire]

That's the issue with social media and forums these days, a lot of clowns calling other people clowns with an opinion as valuable as one of a flat earther.

Actually, I didn't explicitly call him a clown. I said he comes across as one.

Rationale?

Opening an account with Apex 'in order to prove the haters on ET wrong'.

That's clown behaviour, buddy, but feel free to disagree.

Regardless, we're still waiting to be proven wrong...

 

[destriero]

The problem is that MFF is the biggest of its kind and have the fairest rules among all of such prop firms. If they get punished and then it will have a huge Domino effect, but all the other ones are less fair to their customers. The only option would be going very offshore for any prop.

Dude, the guy scammed 300MM. The accounts are gone.

 

[rb7]

What are you talking about ? My hedge fund is not affected at all !!! I get a payout of $14k for August performance. They are safe.

But you are right that I am affected on MFF as prop firm, because I am waiting for $10k to be paid out.

I'm still wondering why a successful trader working for a Hedge Fund (and receiving big bonuses) is 'participating' in those bucket shops!!!