Prop trading firm My Forex Funds appears to be preparing for a return to the market. The company posted on social media platform X today (Monday), noting that updates would be shared soon and asking followers for patience.
My Forex Funds Eyes Comeback After CFTC Case
My Forex Funds was among the early prop firms to emerge in the market. The firm previously faced legal action from the US Commodities and Futures Trading Commission over alleged fraud.
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The firm also shared a similar post on LinkedIn, writing: “It's been a long time. A lot has happened. We will tell our story soon. Be patient, we missed you.”
In a recent community update, the CEO, Murtuza Kazmi, wrote: “There is a lot of misleading information coming from various influencer accounts. The only updates the community can trust are the official updates from us or the court system.”
CFTC Case, Sanctions, and Staff Leaves
In early December 2024, court filings revealed that the CFTC’s lead attorney, Ashley Burden, admitted to being “careless and sloppy” during the investigation. Errors included misrepresenting a CAD 31.5 million tax payment as misappropriation, which had led to asset freezes. These admissions highlighted the flawed handling of the case, culminating in a rare legal setback for the regulator.
Following these developments, in May 2025, the CFTC placed four lawyers and one investigator involved in the case on administrative leave. The agency cited potential violations of professional and government ethics, as an internal review examined staff actions, including the submission of inaccurate information during the trial.
A U.S. federal judge dismissed the CFTC’s fraud case against Traders Global Group Inc., the parent company of MyForexFunds, with prejudice. The decision followed Special Master Jose L. Linares’ recommendation, which cited numerous procedural errors and misleading actions by CFTC staff. The judge also ordered the agency to cover the company’s legal costs.
The ruling carried financial consequences for the CFTC and underscored the importance of adhering to proper legal protocols. It also highlighted the potential impact of procedural shortcomings within regulatory investigations on both firms and regulators.
