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  • #19,461
  • Sep 1, 2023 4:09am Sep 1, 2023 4:09am
Brothers, if you don't see who's fool in the scheme, the fool is you.. Lol making same mistakes when it's been told million times that these firms are scam. Normal hedge funds never hire in this way.
  • #19,462
  • Sep 1, 2023 4:09am Sep 1, 2023 4:09am
mFF s silent makes this situation more complicated. they should have open 1 channel where ppl can get updates from their side. but complete silent looks fishy . and so far what I understand if this is relate to operational issue which relates to a brokers end that it wont be that much difficult to restrat after some time. but current behavior of MFF looks suspicious . sad but have to accept this big losses for traders like me
  • #19,463
  • Sep 1, 2023 4:12am Sep 1, 2023 4:12am
Quoting pizd0s
Brothers, if you don't see who's fool in the scheme, the fool is you.. Lol making same mistakes when it's been told million times that these firms are scam. Normal hedge funds never hire in this way.
I'm newbie about propfirms, can u plz help us which firm is legitimate? And how they recruit so we can avoid future losses.
  • #19,464
  • Sep 1, 2023 4:14am Sep 1, 2023 4:14am
Quoting FX-DON
Suggestion for people who are affected by the current status of MFF. Contact the regulators in Canada and USA as both have been cited by MFF as being involved in their situation. As customers of MFF you should be entitled to an official explanation by the appropriate authorities, you should not just be relying on statements made by MFF or indeed any other prop firm.

Doing a declaration from other country is difficult. Someone from those countries knows it maybe how to do it.

Maybe I will do locally a declaration by the police. But I don’t know if the bureacracy will take too much time. I have called for international crime : they said they are looking for big war crime cases

I don’t expect money back but it is very good if the situation is made clear so that other companies can’t lie with smiling faces.
  • #19,465
  • Sep 1, 2023 4:17am Sep 1, 2023 4:17am
Quoting Takisd
If people think this is the last, they are sadly mistaken. Broker Armageddon 2.0 is here but for prop firms. Starting with anyone who sold coupons to US customers.
These are regulators gone on rampage..I'm willing to wager the spirit of this MFF snafu actually has nothing to do with compliance.
  • #19,466
  • Sep 1, 2023 4:21am Sep 1, 2023 4:21am
Quoting inversio
mFF s silent makes this situation more complicated. they should have open 1 channel where ppl can get updates from their side. but complete silent looks fishy . and so far what I understand if this is relate to operational issue which relates to a brokers end that it wont be that much difficult to restrat after some time. but current behavior of MFF looks suspicious . sad but have to accept this big losses for traders like me
As of now, they have nothing to say.

They have a case with Ontario securities and US regulators. Until then nothing will come out.

We need to wait for 2 weeks.

Like every body, my money too with them.

Patience will help.
Intraday only.
  • #19,467
  • Sep 1, 2023 4:22am Sep 1, 2023 4:22am
Quoting Capablanca
This didn't age well: https://twitter.com/MyForexFunds/sta...08556080542169
aged like fine wine
  • #19,468
  • Sep 1, 2023 4:23am Sep 1, 2023 4:23am
Quoting Eren10
{quote} Doing a declaration from other country is difficult. Someone from those countries knows it maybe how to do it. Maybe I will do locally a declaration by the police. But I don’t know if the bureacracy will take too much time. I have called for international crime : they said they are looking for big war crime cases I don’t expect money back but it is very good if the situation is made clear so that other companies can’t lie with smiling faces.
Even if you find the right authority/department, you would probably need to knwow what's the right legal entity. I think MFF is just the brand. The name of the company or group is probably other than MFF. In traders agreement I read "Traders Global Group Incorporated" but there could even exist a shell group company above this.
  • #19,469
  • Sep 1, 2023 4:38am Sep 1, 2023 4:38am
Quoting Capablanca
{quote} Even if you find the right authority/department, you would probably need to know what's the right legal entity. I think MFF is just the brand. The name of the company or group is probably other than MFF. In traders agreement I read "Traders Global Group Incorporated" but there could even exist a shell group company above this.
Yes it probably won't be easy but surely better to try if you are customer of MFF. People will feel silly if they just accept MFF side of story and it just turns out they used as an excuse to liquidate everything and scarper, good cover story. Not saying this is the case but without official authority confirmation of what the situation "actually" is all the random speculation will have damaging affects regardless of the outcome.
  • #19,470
  • Sep 1, 2023 4:49am Sep 1, 2023 4:49am
How is the reputation to these firms (I'm not sure if I trust Trustpilot)?
1.FundedNext
2.Funded Engineer
  • #19,471
  • Sep 1, 2023 4:49am Sep 1, 2023 4:49am
Quoting Capablanca
{quote} Even if you find the right authority/department, you would probably need to knwow what's the right legal entity. I think MFF is just the brand. The name of the company or group is probably other than MFF. In traders agreement I read "Traders Global Group Incorporated" but there could even exist a shell group company above this.

Autorities have to do also something. And the name of the guy is known so won’t be difficult to track him.
  • #19,472
  • Sep 1, 2023 4:55am Sep 1, 2023 4:55am
From FTMO Discord.

FTMO — Today at 9:19 AM
We are aware of the situation with My Forex Funds. However, as we have no further information on the matter, other than what was published, we are unable to comment on the situation. In light of this matter, we would like to assure you our services remain unaffected and you are welcome to continue trading with us as usual. @everyone
  • #19,473
  • Sep 1, 2023 4:58am Sep 1, 2023 4:58am
I'm sure MFF's Trust pilot is getting bombed right now & videos will be all over social media & youtube in the next few days.

Their pass/payout stats and accusations of being Ponzi will now get regurgitated over and over.

At some point soon, will MFF even be able to survive the reputational damage?
  • #19,474
  • Sep 1, 2023 4:58am Sep 1, 2023 4:58am
Quoting kirinda
How is the reputation to these firms (I'm not sure if I trust Trustpilot)? 1.FundedNext 2.Funded Engineer
Funded Next is know for denying payments based on IPs stuff. Read their page about that and decide for yourself if you want to be involved with a company with these rules:
https://help.fundednext.com/en/artic...-at-fundednext

Funded Engineer I don't know. I think LehmanBrotha was working with them.
  • #19,475
  • Sep 1, 2023 5:04am Sep 1, 2023 5:04am
Quoting CableJ
I'm sure MFF's Trust pilot is getting bombed right now & videos will be all over social media & youtube in the next few days. Their pass/payout stats and accusations of being Ponzi will now get regurgitated over and over. At some point soon, will MFF even be able to survive the reputational damage?
If they will come out of the hearing and resume operation, respecting pending payouts and reinstated failed accounts, etc. this will be very strong for their reputation. Nevertheless people will always think twice before buying a challenge from them. It will take some time to recover from his hit.

Something not good right now is not having anything official to make the case credible. I don't like it.
  • #19,476
  • Sep 1, 2023 5:06am Sep 1, 2023 5:06am
Now in hindsight... one of the reasons some folks were likely seeking out other firms was to go with <30d to 1st payout firms.

Pass phase 1 & 2 + 30d could be 2-4 months before any payoff. I'm sure quite a few trader's are stuck in that exact situation @ MFF waiting for their 1st payout.
  • #19,477
  • Sep 1, 2023 5:08am Sep 1, 2023 5:08am
Is https://myfundedfx.com/ the next best thing and ofcourse FTMO or is there any other legit prop firm?
  • #19,478
  • Sep 1, 2023 5:09am Sep 1, 2023 5:09am
From Funded Next Discord.

Galib | Chief Strategy Officer — Today at 10:35 AM
https://cdn.discordapp.com/emojis/10...ality=lossless Announcement: Stability in Uncertain Times @everyone Hello FundedNext Community, Recent events have shaken the prop trading world, with MyForexFunds facing regulatory freeze orders in Canada and the U.S. While this has led to uncertainty, it also highlights the importance of strategic foresight. FundedNext is incorporated in the UAE, a jurisdiction that fosters innovation and growth. This was a deliberate choice, allowing us to operate in a stable, business-friendly environment. As a result, we can focus on delivering high-quality trading opportunities without the regulatory hurdles faced by firms in North America and the UK. The overall security and reliability of our platform are paramount. This aligns perfectly with one of our core brand promises: to be the 'World's Most Reliable Prop Firm.' Our commitment to operational excellence and platform security sets the industry standard, making us not just a prop firm but your most reliable trading partner. Thank you for being a part of FundedNext. Our strategic positioning, unwavering reliability, and focus on overall security make us more than just a prop firm; they make us your go-to platform for prop trading. We're here for the long run, we have always focused on sustainability & longevity over hype..and we're thrilled you're with us. Best regards, The FundedNext Team
  • #19,479
  • Sep 1, 2023 5:11am Sep 1, 2023 5:11am
Quoting Capablanca
{quote} Something not good right now is not having anything official to make the case credible. I don't like it.
Prob firms are niche and small in the grand scheme of things, so there won't be any news confirmation of anything they are saying.. we just have to wait and see.
  • #19,480
  • Sep 1, 2023 5:13am Sep 1, 2023 5:13am
Is FTMO no longer accepting new signups?
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