My Forex Funds

Regulatory & Licensing Information:

Regulatory Actions and Shutdown In August 2023, the Commodity Futures Trading Commission (CFTC) in the United States and the Ontario Securities Commission (OSC) in Canada took enforcement actions against MFF and its owner, Murtuza Kazmi. The regulators alleged that MFF fraudulently solicited customers to trade leveraged retail forex and commodity transactions without proper registration. The firm was accused of misleading clients about its operations and using manipulative software to disadvantage traders. CFTC As a result of these actions, MFF's assets were frozen, and the firm ceased its operations. The company's website displayed a termination of service notice, indicating that their business was effectively frozen due to regulatory orders. FINANCE MAGNATES User Reviews and Complaints Prior to its shutdown, MFF had garnered a mix of reviews. While some traders appreciated the firm's funding programs and profit-sharing models, others reported issues related to account terminations and difficulties in receiving payouts. The regulatory findings further highlighted deceptive practices that adversely affected traders. MY FOREX FUNDS Conclusion My Forex Funds, once a prominent prop trading firm, faced significant regulatory scrutiny leading to its shutdown in 2023. The allegations of fraudulent activities and the subsequent freezing of assets underscore the importance of due diligence when selecting trading firms. Traders are advised to engage with platforms that are transparent, well-regulated, and have a positive track record in the industry