A US court threw out the CFTC's case against My Forex Funds, citing questionable practices to build the case. But prop firms took it as a caution to offer services in the US.
Now, MyFunded Futures wants to operate as a CFTC-regulated IB and is looking to hire a “Director of Brokerage Operations – Futures Brokerage.”
A screenshot of MyFunded Futures' website showing its challenges
MyFunded Futures, a proprietary trading platform based in the United States, is now moving towards becoming a “fully licensed Introducing Broker (IB)” regulated by the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC).
A Job Post Reveals MyFunded Futures’ Plans
Revealed in a recent job post on LinkedIn, the prop platform is looking to hire a “Director of Brokerage Operations – Futures Brokerage,” who will be based in the US.
“The Director of Brokerage Operations will lead our brokerage infrastructure as we complete our IB registration and establish supervisory practices,” the job description states.
The company, however, does not yet appear to be registered with the NFA or CFTC. A search in the Background Affiliation Status Information Centre (BASIC) database using the terms “MyFunded Futures” or “MyFunded” does not return any results.
An IB is the sales and client-facing arm of the US futures and retail forex market. It finds and onboards traders, guides them through the account forms, and passes every order directly to a carrying Futures Commission Merchant (FCM) or, in the case of retail forex, to a Retail Foreign Exchange Dealer (RFED). The IB may offer a trading platform and market commentary but never holds client money; all funds, margin, and clearing risk remain with the FCM.
In the US, an IB operates under two models – guaranteed or independent. A guaranteed IB relies on one FCM for capital support, whereas an independent IB must meet a minimum net capital requirement of around USD 45,000. The IB earns a portion of each trade’s commission and must also register separately as a Commodity Trading Advisor or Pool Operator before giving personal advice or managing client funds.
Matthew Leech, CEO of MyFunded Futures (Photo: LinkedIn)
The specifics of MyFunded Futures’ IB business remain undisclosed at this time.
FinanceMagnates.com approached Matthew Leech, the CEO of MyFunded Futures, for details on the platform’s IB operations, but as of press time, no response had been received.
Props Becoming Brokers Is a Trend
Leech entered the prop trading business with another platform, MyFundedFX, which has since been rebranded to SeacrestFunded. That prop platform also has a brokerage unit, Seacrest Markets, which operates under a South African licence.
Although several prop trading platforms have now obtained brokerage licences, most seem to be using them to meet technological requirements, such as obtaining MetaTrader licences. Additionally, most of these registrations are issued in St Lucia, which does not have a dedicated brokerage license regime, or in the controversial jurisdiction of Comoros. Only a few of these prop firms appear to be offering standalone brokerage services.
However, MyFunded Futures’ move to become an IB in the US appears to be a first.
MyFunded Futures, a proprietary trading platform based in the United States, is now moving towards becoming a “fully licensed Introducing Broker (IB)” regulated by the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC).
A Job Post Reveals MyFunded Futures’ Plans
Revealed in a recent job post on LinkedIn, the prop platform is looking to hire a “Director of Brokerage Operations – Futures Brokerage,” who will be based in the US.
“The Director of Brokerage Operations will lead our brokerage infrastructure as we complete our IB registration and establish supervisory practices,” the job description states.
The company, however, does not yet appear to be registered with the NFA or CFTC. A search in the Background Affiliation Status Information Centre (BASIC) database using the terms “MyFunded Futures” or “MyFunded” does not return any results.
An IB is the sales and client-facing arm of the US futures and retail forex market. It finds and onboards traders, guides them through the account forms, and passes every order directly to a carrying Futures Commission Merchant (FCM) or, in the case of retail forex, to a Retail Foreign Exchange Dealer (RFED). The IB may offer a trading platform and market commentary but never holds client money; all funds, margin, and clearing risk remain with the FCM.
In the US, an IB operates under two models – guaranteed or independent. A guaranteed IB relies on one FCM for capital support, whereas an independent IB must meet a minimum net capital requirement of around USD 45,000. The IB earns a portion of each trade’s commission and must also register separately as a Commodity Trading Advisor or Pool Operator before giving personal advice or managing client funds.
Matthew Leech, CEO of MyFunded Futures (Photo: LinkedIn)
The specifics of MyFunded Futures’ IB business remain undisclosed at this time.
FinanceMagnates.com approached Matthew Leech, the CEO of MyFunded Futures, for details on the platform’s IB operations, but as of press time, no response had been received.
Props Becoming Brokers Is a Trend
Leech entered the prop trading business with another platform, MyFundedFX, which has since been rebranded to SeacrestFunded. That prop platform also has a brokerage unit, Seacrest Markets, which operates under a South African licence.
Although several prop trading platforms have now obtained brokerage licences, most seem to be using them to meet technological requirements, such as obtaining MetaTrader licences. Additionally, most of these registrations are issued in St Lucia, which does not have a dedicated brokerage license regime, or in the controversial jurisdiction of Comoros. Only a few of these prop firms appear to be offering standalone brokerage services.
However, MyFunded Futures’ move to become an IB in the US appears to be a first.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
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How FYNXT is Transforming Brokerages with Modular Tech | Executive Interview with Stephen Miles
How FYNXT is Transforming Brokerages with Modular Tech | Executive Interview with Stephen Miles
Join us for an exclusive interview with Stephen Miles, Chief Revenue Officer at FYNXT, recorded live at FMLS:25. In this conversation, Stephen breaks down how modular brokerage technology is driving growth, retention, and efficiency across the brokerage industry.
Learn how FYNXT's unified yet modular platform is giving brokers a competitive edge—powering faster onboarding, increased trading volumes, and dramatically improved IB performance.
🔑 What You'll Learn in This Video:
- The biggest challenges brokerages face going into 2026
- Why FYNXT’s modular platform is outperforming in-house builds
- How automation is transforming IB channels
- The real ROI: 11x LTV increases and reduced acquisition costs
👉 Don’t forget to like, comment, and subscribe.
#FYNXT #StephenMiles #FMLS2025 #BrokerageTechnology #ModularTech #FintechInterview #DigitalTransformation #FinancialMarkets #CROInterview #FintechInnovation #TradingTechnology #IndependentBrokers #FinanceLeaders
Join us for an exclusive interview with Stephen Miles, Chief Revenue Officer at FYNXT, recorded live at FMLS:25. In this conversation, Stephen breaks down how modular brokerage technology is driving growth, retention, and efficiency across the brokerage industry.
Learn how FYNXT's unified yet modular platform is giving brokers a competitive edge—powering faster onboarding, increased trading volumes, and dramatically improved IB performance.
🔑 What You'll Learn in This Video:
- The biggest challenges brokerages face going into 2026
- Why FYNXT’s modular platform is outperforming in-house builds
- How automation is transforming IB channels
- The real ROI: 11x LTV increases and reduced acquisition costs
👉 Don’t forget to like, comment, and subscribe.
#FYNXT #StephenMiles #FMLS2025 #BrokerageTechnology #ModularTech #FintechInterview #DigitalTransformation #FinancialMarkets #CROInterview #FintechInnovation #TradingTechnology #IndependentBrokers #FinanceLeaders
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
