From being the role model of all prop firms out there, My Forex Funds had surely gone through a rollercoaster ride from fame to a major downfall. It now faces legal battles and serious concerns about its operations and regulatory standing.
And yes, spoiler alert: as of 2025, it is no longer in operation.
However, the major plot twist is that the case has been suspended.
So, the question is: will they reclaim their long-standing spotlight as one of the most popular prop firms and return to operation?
In this TRU Insight, our expert-backed review explores all the features and operations that have been tarnished by fraud allegations, and the decision to revisit the MyForexFunds login—just in case they make a comeback.
Is it still worth it? Read more to find out.
My Forex Funds Summary Overview
MyForexFunds is a proprietary trading firm that is based in Toronto, Canada, and was founded in July 2020 by Anurag Jaiswal. It is a company that offers a wide array of funding programs.
Here are some of the following features:
| Features | Details |
| Market Instrument | Forex, Cryptocurrencies, Indices, Commodities, and CFDs |
| Account Type | Rapid, Evaluation, and Accelerated |
| Minimum Deposit | $2000 |
| Spread | 0.0 pips |
| Commission | $3 per round |
| Maximum Leverage | 1:500 |
| Trading Platform | MetaTrader 4 and MetaTrader 5 |
| Demo Account | Not Available |
| Deposit and Withdrawal Methods | Debit/Credit Cards, Cryptocurrencies, and Bank Transfers. |
| Profit Split | Evaluation account (75-90%) Funded Account (50/50) |
| Customer support service | 24/7 |
MyForexFunds was undeniably the go-to prop firm for many traders before its shutdown. Each evaluation level offered an opportunity to earn profits. The profit splits and free retakes were the main reasons why over 100,000 traders across 150 countries joined.
However, despite all the pros presented, the major concern lies in the regulatory issues and legal battles the firm has undergone.
This concern also extends to our trading community, where numerous traders emphasize the importance of a company’s regulatory oversight and other related issues.
Consider equipping yourself with first-hand experiences from fellow verified traders, along with educational tools to help you identify which features are ideal, and which red flags you shouldn’t ignore.
Is myForexFunds Regulated?
Truth is, no matter how flashy the wide range of features and how competitive the fees a company may offer, if it lacks regulatory oversight, those advantages are outweighed.
That’s why the major disadvantage attributed to MyForexFunds’ downfall is the lack of licenses from any regulatory bodies, not even from tier 3 regulators or offshore permits.
Consequently, U.S. and Canadian financial regulators not only blocked their operations but also filed lawsuits, charging the company with running a $300 million fraud targeting retail traders.
Read more: TradersUnited – Foreign Regulatory Agencies
My Forex Funds Legal Battles
The heavy toll of lawsuits filed by major regulatory giants against MyForexFunds has become a significant part of its history and reputation.
On August 29, 2023, the Commodity Futures Trading Commission (CFTC) filed a complaint against Murtuza Kazmi and his company. MyForexFunds operated under Traders Global Inc., which Kazmi owns.
The CFTC accused them of soliciting customers to trade leveraged forex and commodity transactions by offering high-profit shares. However, according to the CFTC, this was a manipulation scheme designed to ensure trader losses and profit from customers.
Kazmi was alleged to have transferred millions generated from the operation into his personal account and spent it on luxury items.
Aside from the CFTC, the Ontario Securities Commission also issued a temporary cease trade order against Traders Global Group Inc., MyForexFunds’ parent company.
Here’s an official statement from My Forex Funds after the allegations:
What Happened to the Case? Court 2025 Update
In the end, the court decided to dismiss the complaint of CTFC with prejudice. This means the CFTC cannot refile the same charges against Traders Global Inc.
The case ultimately backfired on the CFTC, as they now face sanctions and are required to cover MyForexFunds’ legal fees and other related penalties.
Consequently, the court also ordered the unfreezing of assets, making it possible for MyForexFunds traders to receive their payments.
However, the court categorized their activities as “simulated trading,” and the lack of regulatory oversight highlights the company’s need for stronger legal clarity moving forward.
Read more: Top Prop Firms South Africa 2025 + Forex Funding Guide
Frequently Asked Questions (FAQ)
How do My Forex Funds operate?
My Forex Funds gives traders access to capital through three account types: Rapid, Evaluation, and Accelerated.
Traders pay a fee, follow strict rules, and earn a share of profits if they perform well and manage risks properly.
Will MyForexFunds Get Back to Operation?
It’s still uncertain if MFF will resume operations. Most of their assets have been unfrozen to settle with existing traders.
If they return, they’ll need to comply fully with CFTC regulations.
Is MyForexFunds Still Worth It in Case They Get Back?
MyForexFunds had a strong appeal for both beginners and seasoned traders. Its flexible account types and generous profit splits made it attractive, but the lack of regulation and legal issues raised serious concerns. If it returns under proper oversight, it may still be a viable option for traders who understand the risks.
That’s why financial literacy is a must. Equipping yourself with the right tools and resources is the first step before you commit yourself to such firms. Joining a reputable trading community can be a great help to hone free financial knowledge.
In communiTrade, there are free educational tools and more spaces designed for traders that help one another stay informed about legitimate opportunities so that you can trade smarter and safer.
