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  • #21,401
  • Sep 11, 2023 12:38pm Sep 11, 2023 12:38pm
Quoting pipmaster77
{quote} Probably never would be my guess. All part of the process, shut one firm down, scare all of the payment processors.....this is the CFTC playbook.
I believe that CFTC went after Deel for other things as well, but i cant find where i saw it written. Something to do with the paper cards or whatever they have and a false valuation.
  • #21,402
  • Sep 11, 2023 12:41pm Sep 11, 2023 12:41pm
Quoting Boulder
{quote} CFTC is going after Deel too...
It is far easier to stop folks from being able to move money than it is to shut down EVERY prop/broker they do not approve of, er, I mean "regulate". It will be crypto only, just like the offshore brokers. Until, of course, they figure out a way to ban crypto as well (they are working on it, do not worry)
  • #21,403
  • Sep 11, 2023 12:42pm Sep 11, 2023 12:42pm
Why is there no written claim to Deel to be found nowhere ? Anyone has something ? Because I would like to know what the accusations are in details. Thanks.
How they can shutdown entire Deel when they are globally working and not only with prop firms, or what I am missing here ? Any other prop firms claiming problems on Deel or are they not processing ANY payouts now ? BFP is still doing payouts but with bank wires, which is okay for me too, but not so comfortable for me right now.
  • #21,404
  • Sep 11, 2023 12:46pm Sep 11, 2023 12:46pm
Quoting TrAndy1
Why is there no written claim to Deel to be found nowhere ? Anyone has something ? Because I would like to know what the accusations are in details. Thanks.
There were some articles written last week, people are unsure as to whether part of their co-operation on other cases was stopping it from being a public thing or not. Lets see - but bespoke have other issues, specifically, they have been reported to the FCA a few times recently.
  • #21,405
  • Sep 11, 2023 12:47pm Sep 11, 2023 12:47pm
Quoting TrAndy1
Why is there no written claim to Deel to be found nowhere ? Anyone has something ? Because I would like to know what the accusations are in details. Thanks. How they can shutdown entire Deel when they are globally working and not only with prop firms, or what I am missing here ? Any other prop firms claiming problems on Deel or are they not processing ANY payouts now ? BFP is still doing payouts but with bank wires, which is okay for me too, but not so comfortable for me right now.
Seems to be just a rumor.
  • #21,406
  • Sep 11, 2023 12:47pm Sep 11, 2023 12:47pm
Quoting TrAndy1
Why is there no written claim to Deel to be found nowhere ? Anyone has something ? Because I would like to know what the accusations are in details. Thanks.
Im sure they got hit with a subpoena for MFF records and possibly aided in the supposed “fraud” as told by CFTC. As a result they might just bow out of these types of firms altogether.
Trade with confidence, trade without fear.
  • #21,407
  • Sep 11, 2023 12:47pm Sep 11, 2023 12:47pm
here a statement from ftmo concerning the actual situation:

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.

As we operate globally, we are regularly communicating with various regulators regarding their inquiries in connection with the provision of our services. We have never been subject to any freezing orders from regulators. As you may have noticed, we are working hard to build strong compliance environment to protect our clients. Currently, most of our assets are held with reputable financial institutions within European Union and in order to manage any related risks, we use various payment providers
  • #21,408
  • Sep 11, 2023 12:48pm Sep 11, 2023 12:48pm
Which prop firms are actually doing payouts still ? Which props has stopped any payouts until MFF matter is more clearly (?) which can take more weeks to come.
  • #21,409
  • Sep 11, 2023 12:54pm Sep 11, 2023 12:54pm
Anyone else feel the irony of all this? Ok, MFF has a pretty massive hill to climb here. But watching all the other elements of prop firms eat each other and trip over their own shoe laces is pretty funny.
  • #21,410
  • Edited 1:12pm Sep 11, 2023 12:57pm | Edited 1:12pm
Quoting pipmaster77
{quote} It is far easier to stop folks from being able to move money than it is to shut down EVERY prop/broker they do not approve of, er, I mean "regulate". It will be crypto only, just like the offshore brokers. Until, of course, they figure out a way to ban crypto as well (they are working on it, do not worry)
I don't even want to talk about crypto, I had ripple trades at bitstamp in 2018, when it ran way up, I could not cash out my profit, since US govt freezed ripple.
I was actively trading crypto in Binance two years ago, and now US govt Sec almost shut down the firm. All the money will be stuck there.
Now prop firms, my profit sharing will be gone too.. I actually got in VIP status in MFFX after carefully trading, US govt is probably going to close all prop shops and take that opportunity away . Thank you very much US govt, US has no differences from the Red China that I came from ..
  • #21,411
  • Sep 11, 2023 12:58pm Sep 11, 2023 12:58pm
Quoting Boulder
{quote} A lot of those were fake payout for sure.. I read one time , that prop firms helped them to fake all those results to get customers I found the post {image}
this was a popular way to create PAMM scams, roll it up for a few months and then rug pull
  • #21,412
  • Sep 11, 2023 12:59pm Sep 11, 2023 12:59pm
Quoting pipmaster77
{quote} It is far easier to stop folks from being able to move money than it is to shut down EVERY prop/broker they do not approve of, er, I mean "regulate". It will be crypto only, just like the offshore brokers. Until, of course, they figure out a way to ban crypto as well (they are working on it, do not worry)
One day in the not so distant future, we will simply be moving CBDC back and forth to Oanda and Forex.com, everything will be right in the world.
  • #21,413
  • Sep 11, 2023 1:08pm Sep 11, 2023 1:08pm
Quoting Elyes
here a statement from ftmo concerning the actual situation: 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. As we operate globally, we are regularly communicating with various regulators regarding their inquiries in connection with the provision of our services. We have never...
yes, we saw that on Sept. 1
  • #21,414
  • Sep 11, 2023 1:13pm Sep 11, 2023 1:13pm
Quoting Elyes
here a statement from ftmo concerning the actual situation: 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. As we operate globally, we are regularly communicating with various regulators regarding their inquiries in connection with the provision of our services. We have never...
They say "We have never been subject to any freezing orders from regulators". It's not a lie, I guess. Which doesn't mean that they are not under investigation and/or haven't been requested to provide more information.

May this communication was a way of lying without lying.
  • #21,415
  • Sep 11, 2023 1:16pm Sep 11, 2023 1:16pm
Quoting TrAndy1
Why is there no written claim to Deel to be found nowhere ? Anyone has something ? Because I would like to know what the accusations are in details. Thanks. How they can shutdown entire Deel when they are globally working and not only with prop firms, or what I am missing here ? Any other prop firms claiming problems on Deel or are they not processing ANY payouts now ? BFP is still doing payouts but with bank wires, which is okay for me too, but not so comfortable for me right now.
Have you already received the bank wire or they are still processing ?

Is the payout reasonable (like 5 figures ?). It's good that we start sharing who is (still) paying. I'm due to receive a couple of them this week and next week. I'll report.
  • #21,416
  • Sep 11, 2023 1:22pm Sep 11, 2023 1:22pm
Quoting Capablanca
{quote} Have you already received the bank wire or they are still processing ? Is the payout reasonable (like 5 figures ?). It's good that we start sharing who is (still) paying. I'm due to receive a couple of them this week and next week. I'll report.
Mine is due on Wednesday so cannot tell if Deel will work or not. Yes expecting 5-figures. And yes, I think it is good to share which ones are still paying out or not.
  • #21,417
  • Sep 11, 2023 1:24pm Sep 11, 2023 1:24pm
Anyone has contacted Deel support ? What are they saying ? If you cannot take Deel how do you get your payouts now ? All cryptos or bank wires then ?
  • #21,418
  • Sep 11, 2023 1:28pm Sep 11, 2023 1:28pm
Quoting TrAndy1
Anyone has contacted Deel support ? What are they saying ? If you cannot take Deel how do you get your payouts now ? All cryptos or bank wires then ?
Let's see how it goes. I have one for Wednesday too and should be processed through Deel.
  • #21,419
  • Sep 11, 2023 1:29pm Sep 11, 2023 1:29pm
Quoting Capablanca
{quote} Let's see how it goes. I have one for Wednesday too and should be processed through Deel.
Deel ? Which prop ? Are they not having problems with Deel right now too ?
  • #21,420
  • Sep 11, 2023 1:29pm Sep 11, 2023 1:29pm
Crypto - Netflix and chill.
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