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  • #26,901
  • Edited 5:10pm Dec 2, 2023 4:36pm | Edited 5:10pm
MFF update...

Canadian regulator won't release the live trader's frozen 12M assets (fees & payments) so MFF can comply and transfer the funds as the court requested. MFF is asking the court that as long as funds are frozen by the Can regulator that it will be accepted as them complying with the court's ordered request.

MFF is asking judge to give them back control of their website since the temp receiver was removed. They attempted to regain control but Go daddy told MFF they need a new court order for them to release control back to MFF. MFF wants to remove the current temp receiver message put up on the website and replace it with a CFTC negotiated case update. If no agreement is reached with CFTC, they want to simply put up their blank logo graphic with no text.

CFTC is asking court to throw out MFF's request for them to pay 1/2 of the receiver's 270K fees. MFF claims the CFTC should be on the hook since they erroneously flagged 2 Canadian tax payments as their main justification to get the court ordered freeze on assets. CFTC claims they have blanket immunity from their screw up.
  • #26,902
  • Dec 2, 2023 4:43pm Dec 2, 2023 4:43pm
Quoting Trader191
{quote} if they dont have intern or technical stuff working this day, they cant react to how people trade to merge risk perfect by slippage and bring some accounts down by just normal b book market maker tricks. its a lose situation for a game or b book broker, when noone works on this day. stop to think about a game like about a normal broker, in a game constructed like the social props you want and you need to bring the players in loss and down, thats what you need to do to win, so you cant let it be uncontrolled. thats the reality in such a game...
Well, then they are an even crappier prop firm than all the rest, because others based in the UAE aren't shutting down trading for the day, and plenty of US-based ones didn't have to shut down on Thanksgiving, etc., etc. If they can't handle it, then they aren't good enough to begin with and should be avoided at all costs.
  • #26,903
  • Dec 2, 2023 5:04pm Dec 2, 2023 5:04pm
Quoting AaronPriest
{quote} Well, then they are an even crappier prop firm than all the rest, because others based in the UAE aren't shutting down trading for the day, and plenty of US-based ones didn't have to shut down on Thanksgiving, etc., etc. If they can't handle it, then they aren't good enough to begin with and should be avoided at all costs.
its a simple game, nothing complicated, so they create the rules to produce the edge, you accept the rules and play the game or dont play the game.
there is no regulation or anything. tell them what to do will not happen, anyone can create a game any time.

thats not regulated broker business here.
we speak here about the most easy type of company, like a ponzi payment style (you need to pay all the winners from the money what will come in from others, when less pay in then go out it will bust immediately) without is a direct ponzi, just a gaming entertainment company.
  • #26,904
  • Dec 2, 2023 5:30pm Dec 2, 2023 5:30pm
Quoting AaronPriest
{quote} Well, then they are an even crappier prop firm than all the rest, because others based in the UAE aren't shutting down trading for the day, and plenty of US-based ones didn't have to shut down on Thanksgiving, etc., etc. If they can't handle it, then they aren't good enough to begin with and should be avoided at all costs.
Yes this prop firm is not run by traders. A trader would not say I do not work or do not come to the office today when the market is open. Never ever.
  • #26,905
  • Dec 2, 2023 5:55pm Dec 2, 2023 5:55pm
Quoting TrAndy1
{quote} Yes this prop firm is not run by traders. A trader would not say I do not work or do not come to the office today when the market is open. Never ever.
depends more how many people from the region are inside this company. if you have a lot of american or european inside, they dont care about this holiday... but here its quite big in this region, same like for USA independence day.

and you dont need traders in this game company, risk managers, programmers,...... you can really trade it like a game from their side, not only from other side.
  • #26,906
  • Dec 2, 2023 5:56pm Dec 2, 2023 5:56pm
Quoting Capablanca
This is fck*ing unbelievable. As it is public holiday in UAE Funding Pips doesn't allow to trade normally, only closing trades. {image}
When did they make this announcement?
Trade with confidence, trade without fear.
  • #26,907
  • Dec 2, 2023 6:17pm Dec 2, 2023 6:17pm
Quoting Capablanca
This is fck*ing unbelievable. As it is public holiday in UAE Funding Pips doesn't allow to trade normally, only closing trades. {image}
I recon they family run business
  • #26,908
  • Dec 2, 2023 7:44pm Dec 2, 2023 7:44pm
Playing with btc on weekend on both myff phase 2 and Blueguardian phase 1
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Extreme gut feeling trader
  • #26,909
  • Dec 2, 2023 10:56pm Dec 2, 2023 10:56pm
Quoting Trader191
{quote} its american time 7-10 pm or? so japan market open time?
Yes, that's right. Japan open time.
  • #26,910
  • Dec 3, 2023 4:13am Dec 3, 2023 4:13am
Quoting CableJ
CFTC is asking court to throw out MFF's request for them to pay 1/2 of the receiver's 270K fees.
receiver as in us the traders? Will this apply to traders outside of North America?
  • #26,911
  • Dec 3, 2023 4:49am Dec 3, 2023 4:49am
Quoting a3trader
{quote} receiver as in us the traders? Will this apply to traders outside of North America?
Don't worry (, be happy).
  • #26,912
  • Dec 3, 2023 4:51am Dec 3, 2023 4:51am
WTF...MyForexFunds has just made 2 payments (about 800 USD) from my credit card for resets of 100k accounts...I have immediately blocked the card and initiated a charge back.
Is this their way trying to get their money back??
  • #26,913
  • Dec 3, 2023 4:53am Dec 3, 2023 4:53am
Quoting Cryptosurf
{quote} When did they make this announcement?
I received the email yesterday, Saturday !
  • #26,914
  • Dec 3, 2023 4:55am Dec 3, 2023 4:55am
Quoting Olarion1975
WTF...MyForexFunds has just made 2 payments (about 800 USD) from my credit card for resets of 100k accounts...I have immediately blocked the card and initiated a charge back. Is this their way trying to get their money back??
Did you make any charge back when they went down ? Is this a charge back to your charge back ?
  • #26,915
  • Dec 3, 2023 5:00am Dec 3, 2023 5:00am
Quoting Capablanca
{quote} Did you make any charge back when they went down ? Is this a charge back to your charge back ?
I made a charge back months ago for 5 payments, but I have not received any money back so far...
  • #26,916
  • Dec 3, 2023 5:05am Dec 3, 2023 5:05am
Quoting Capablanca
{quote} I received the email yesterday, Saturday !
That’s some BS right there.
Trade with confidence, trade without fear.
  • #26,917
  • Dec 3, 2023 6:50am Dec 3, 2023 6:50am
Quoting coastie0194
{quote}{quote} Hi Lrg, I received the email immediately after I made the purchase. Your situation doesn't sound normal and it's unfortunate that no one replied. I used the November 20% discount at the top of main page. Hopefully it's resovled soon.
I bought with the 40% discount, wonder if this has anything to do with the delay, it really shouldn't.
Lets wait and see how this play out. Thanks
  • #26,918
  • Edited 8:34am Dec 3, 2023 8:13am | Edited 8:34am
Quoting Cryptosurf
{quote} That’s some BS right there.
Yeah, and then they started deleting complaints in their Discord group and putting people on mute who were being vocal about it. And they apparently have the time to run ads with promo codes celebrating UAE National Day this weekend and tomorrow on various platforms and Telegram groups--but they can't let anyone trade? I left their Discord and crossed them off of my recommended list over this. I think they are desperate for an influx of new cash to make last month's payments or something.
  • #26,919
  • Dec 3, 2023 10:52am Dec 3, 2023 10:52am
Quoting a3trader
{quote} receiver as in us the traders? Will this apply to traders outside of North America?
Short story, no, trader is not the receiver.
  • #26,920
  • Edited 11:23am Dec 3, 2023 11:12am | Edited 11:23am
Quoting a3trader
{quote} receiver as in us the traders? Will this apply to traders outside of North America?
receiver = court appointed handler of frozen assets that was recently removed by Judge
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