That is a million dollar question
What is the best prop firm trading in your opinion?
- Thread starter trader221
- Start date
According to their terms and conditions, they are registered in MÄRSTA, Sweden.
https://tradiac.com/terms/
What makes you think they are incorporated in Delaware?
"These terms and conditions (the “Agreement”) create a contract between you (“You” or the “User”) and Tradiac, a brand operated by Impossible Ventures LLC (the “Company”)..."
"...This Agreement governs the Your rights and obligations when using the Services provided by Impossible Ventures, LLC, a company registered in the State of Delaware, registered at 651 N Broad St, Suite 201, Middletown, New Castle, Delaware, 19709, United States of America..."
https://www.elitetrader.com/et/thre...ng-in-your-opinion.372151/page-9#post-5835075
So again, how does it work exactly? The parent company (IV, LLC) is incorporated and run in Delaware, but the Brand (Tradiac) is registered and run in Sweden? Is the Brand considered one of IV's Services?
P.S. In thinking about it, I am guessing this is similar to how IB or AMP works, splitting their US and Global units? But I thought they were separate entities outright, not just European brands running under same parent company.
You are quoting this text, but you did not provide a direct link to it.
I provided a link to the terms and conditions on the Tradiac website:
https://tradiac.com/terms/
That page does not contain the word Delaware, and it does not contain word Ventures either.
(It does have the word impossible, but it is not part of a company name.)
Where did the text you are quoting come from? Please provide a link.
They apparently changed from Impossible Ventures LLC to Nordic Funder KB.
Perhaps it's time for @Overnight to refresh his browser cache.
Looks like maybe offering accounts to traders in the USA was literally an impossible venture
What about Earn2trade?
On August 29, 2023, Anthony Sodono, III, Esq., was appointed as temporary receiver (“Temporary Receiver”) pursuant to a Statutory Restraining Order (“SRO”) entered in the civil action captioned Commodity Futures Trading Commission v. Traders Global Group Inc., et al., Case No. 3:23-cv-11808 ZNQ-TJB, pending in the United States District Court for the District of New Jersey, Trenton vicinage (“District Court”).
As a brief summary, the Commodity Futures Trading Commission (“CFTC”) filed a civil enforcement action in Federal District Court against the following Defendants: Traders Global Group Inc., a New Jersey corporation d/b/a My Forex Funds; Traders Global Group Inc., a Canadian business (collectively, “Traders Global”); and Murtuza Kazmi (collectively, the “Defendants”).
The CFTC alleges that Defendants violated certain provisions of the Commodities Exchange Act and CFTC regulations. Specifically, the CFTC alleges that Defendants engaged in fraud in connection with retail forex transactions, engaged in fraud in connection with off-exchange transactions in retail forex and retail commodities, acted as an unregistered retail foreign exchange dealer (“RFED”), acted as an unregistered RFED associated person, and engaged in off-exchange retail commodity transactions.
The Defendants dispute the CFTC’s allegations. There has not been any final determination by the court regarding Defendants’ liability. Therefore, the Temporary Receiver has no authority at this time to return or to refund any money.