A US judge issued an opinion in the CFTC vs My Forex Funds case. MFF won a minor victory, but may have lost the war. I discuss what this opinion means for MFF and any other US based forex prop firms.
My Forex Funds has finally issues a full response to the CFTC’s charges and even justifies the “slip them to hell” comment. I offer my commentary, talk about the ramifications for other prop trading firms and publish the full MFF response as a pdf.
This week’s prop trading update features another failed firm, Leveled Up Society, which is suffering through a management break up so severe that they had to close the whole fund. Also Winston Churchill (?) and the latest with My Forex Funds.
September 25, 2023 These are dire or exciting times to be in the prop firm world, depending on your perspective. We are definitely witnessing a seminal moment in the relatively short history of prop firms that offer funded accounts. That’s exciting! And a little scary. What does seem obvious is that the gray area in … Read more
September 18, 2023 Are we still talking about My Forex Funds and the CFTC? We are, and probably will be for some time as the prop trading industry continues to deal with the repercussions. Further fallout from CFTC vs MFF – Deel bails on prop firms While My Forex Funds was crashing and burning at … Read more
My weekly prop firm update has more about the downfall of My Forex Funds with a summary of the full complaint + reactions from other prop firms. Dig in!
I read the CFTC’s 40-page complaint against My Forex Funds so you don’t have to! Here’s some of the critical (and not so critical) things that stood out.
Big news in this week’s newsletter – My Forex Funds has been shut down! Read about it, plus some ideas about alternatives.
In a stunning development, My Forex Funds, one of the world’s leading prop firms has been closed down by the CFTC. This is what we know so far.