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My forex funds
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Retail FX
My Forex Funds Fiasco: Will the CFTC Be Sanctioned Like the SEC in the DEBT Box Case?
The prop firm is seeking a sanction order against the CFTC for “misrepresentation of facts.”
The regulator called the move “an apparent attempt to strongarm a more favorable settlement.”
Friday, 29/03/2024 | 09:06 GMT
by
Arnab Shome
Retail FX
Breaking: My Forex Funds Seeks Sanctions against the CFTC
In a motion submitted to court, My Forex Funds’ lawyers sought sanctions against the regulator for alleged misrepresentation of facts.
The CFTC slapped fraud charges on My Forex Funds last August and shuttered the prop trading business down.
Friday, 08/03/2024 | 06:19 GMT
by
Arnab Shome
Retail FX
My Forex Funds Read the Fine Print: Did the CFTC File One Document Too Many?
The prop firm claims that an email submitted by the regulator to court proves they "knowingly included false information."
Finance Magnates reached out to the CFTC but hasn't received any comment.
Wednesday, 06/12/2023 | 15:48 GMT
by
Arnab Shome
Retail FX
Breaking: US Court Orders Release of Majority of My Forex Funds Founder's Assets
Murtuza Kazmi will receive approximately $100 million, but $12 million remains frozen.
The court upheld the "first impression evidence" submitted by the CFTC against My Forex Funds.
Tuesday, 14/11/2023 | 22:03 GMT
by
Yam Yehoshua
Retail FX
Breaking: My Forex Funds Questions CFTC’s Jurisdictions on Its Business
The defense lawyers filed a motion denying all allegations against the prop trading firm by the CFTC.
The motion stated transactions between MFF and its customers fall outside the scope of the regulator.
Wednesday, 01/11/2023 | 13:17 GMT
by
Arnab Shome
Retail FX
My Forex Funds Fiasco Pushes Prop Trading Firms toward Transparency
Prop trading firms can equate success rates of challenges to retail brokers' profitable traders.
Regulating this industry is complicated due to a lack of international co-ordination.
Monday, 02/10/2023 | 10:43 GMT
by
Paul Golden
Retail FX
My Forex Funds and Deel Scandal as a Game-Changing Market Trend: Compliance First
Deel's decision to cease services to My Forex Funds shows a new trend of prioritizing compliance.
The market's long-awaited move since the outcry of binary options has nullified the usual tech supplier excuse.
Friday, 29/09/2023 | 11:21 GMT
by
Ella Rosenberg
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Retail FX
Exclusive: My Forex Funds Claims CFTC “Mischaracterized” Its Tax Payments to Freeze Assets
The prop trading firm filed a motion yesterday, seeking modification of the statutory restraining order.
My Forex Funds records show two pre-authorized payments of $27,000,000 CAD and $4,500,000 CAD, which the CFTC flagged.
Wednesday, 27/09/2023 | 19:02 GMT
by
Arnab Shome
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