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Retail FX

The Funded Trader's Civil War: Co-Founder Sues Partners over Forced Ouster

  • Nicholas D’Arcangelo, with three others, founded The Funded Trader in 2021.
  • The prop platform allegedly generates “multiple seven figures per month” in revenue.
by Arnab Shome
Retail FX

Prop Trading and Trader Funding Firms: Separating Marketing Gimmicks from Reality

  • The first article of the series distinguishes between Prop Trading Firms and Trader Funded Firms.
  • Trader Funding firms may or may not be involved in proprietary trading.
by Anya Aratovskaya
Retail FX

My Forex Funds Read the Fine Print: Did the CFTC File One Document Too Many?

  • The prop firm claims that an email submitted by the regulator to court proves they "knowingly included false information."
  • Finance Magnates reached out to the CFTC but hasn't received any comment.
by Arnab Shome
Retail FX

FX Markets Brace for Influx of Proprietary Trading Firms in 2024

  • Firms eye FX trading growth, but investment budgets set to rise.
  • Exchange fees and EU regulations present challenges amid expansion.
by Damian Chmiel
Retail FX

Breaking: My Forex Funds Questions CFTC’s Jurisdictions on Its Business

  • The defense lawyers filed a motion denying all allegations against the prop trading firm by the CFTC.
  • The motion stated transactions between MFF and its customers fall outside the scope of the regulator.
by Arnab Shome
Education Center

Where Does the Prop Trading Industry Go from Here?

  • A look into the proprietary trading industry.
by Pedro Ferreira
FM-Events

FMLS:23 Speaker Spotlight – Evolution and Future Prospects of Online Prop Trading

  • Prop trading will be focused on extensively at FMLS:23. See where the space is headed.
by Jeff Patterson
Retail FX

My Forex Funds Fallout: cTrader Provider Welcomes Prop Firms, but Is "Very Selective"

  • A panel at iFX EXPO International 2023 discussed prop trading and the impact of the My Forex Funds collapse in the industry.
  • There is no certainty on when there will be regulations on prop trading.
by Arnab Shome
Retail FX

Exclusive: Closed Prop Trading Firm 'Leveled Up Society' Leaves Traders in Limbo

  • GoldenOwl, an MT4 EA, marketed by a Leveled Up promoter was termed a "scam" by buyers.
  • The prop trading platform suspended its operations and is now allegedly halting customer payouts.
by Arnab Shome
Retail FX

News Nuggets | 19 October: FINRA's Prop Trading Exemption; KuCoin's New Futures Platform

  • Also, Validus appoints Andrew Spence, and LSEG announces Q3 2023 results.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
by Finance Magnates Staff
Retail FX

My Forex Funds Fiasco Pushes Prop Trading Firms toward Transparency

  • Prop trading firms can equate success rates of challenges to retail brokers' profitable traders.
  • Regulating this industry is complicated due to a lack of international co-ordination.
by Paul Golden
Retail FX

My Forex Funds Era: "Simulated" and "Virtual" Are The New Safe Words for Prop Trading

  • Many prop trading platforms have changed their website's wording after the charges filed in the US against My Forex Funds
  • They want to highlight their "challenges" on a demo trading platform.
by Arnab Shome
Retail FX

My Forex Funds and Deel Scandal as a Game-Changing Market Trend: Compliance First

  • Deel's decision to cease services to My Forex Funds shows a new trend of prioritizing compliance.
  • The market's long-awaited move since the outcry of binary options has nullified the usual tech supplier excuse.
by Ella Rosenberg
Retail FX

Exclusive: My Forex Funds Claims CFTC “Mischaracterized” Its Tax Payments to Freeze Assets

  • The prop trading firm filed a motion yesterday, seeking modification of the statutory restraining order.
  • My Forex Funds records show two pre-authorized payments of $27,000,000 CAD and $4,500,000 CAD, which the CFTC flagged.
by Arnab Shome
Retail FX

Exclusive: My Forex Funds Claims It "Didn’t Defraud Traders"

  • The company shared with Finance Magnates the first detailed public comment, stating that the allegations are "grossly inaccurate".
  • Alex Spiro and team from Quinn Emanual retained to represent My Forex Funds against CFTC allegations.
by Arnab Shome
Retail FX

Prop Trading and My Forex Funds: Regulatory Crossroads in the Wake of the Deel Scandal

  • Unlike its American counterparts, the EU is busy with Ukraine, pushing down its priority for financial services.
  • Dubai's new crypto regulatory framework for propriety trading has demonstrated itself to be both accessible and enduring.
by Ella Rosenberg
Retail FX

90% Profit Split: CFDs Broker Axi Dives into Prop Trading

  • The broker carefully labeled its new service ‘capital allocation program’, not prop trading.
  • It will be available only for clients under the St Vincent and the Grenadines incorporated entity.
by Arnab Shome
Retail FX

Dissecting My Forex Funds' Model: How Did the Prop Trading Firm Generate $310M?

  • My Forex Funds had over 135,000 customers taking its 'challenge'.
  • The cost of its challenge fee was up to $4,900.
by Arnab Shome
Retail FX

Unlocking the Future of Prop Trading: TFB and Red Acre Announce Partnership

  • TFB and Red Acre launched an end-to-end solution for prop trading firms.
  • They want to simplify business processes for both newcomers and existing players.
by Damian Chmiel
Retail FX

My Forex Funds Fallout: HR Startup Stops Payouts to Prop Trading Firms

  • Deel handled over $72 million in payouts for My Forex Funds.
  • The HR startup is now reviewing its deals with prop trading firms.
by Arnab Shome
Retail FX

My Forex Funds Scandal Might Trigger Regulation Push on Prop Trading

  • Prop trading firms skip regulations as they do not handle clients' monies.
  • "Laws on advertising and bonuses should be enough to stop unlawful practices."
by Arnab Shome
Retail FX

$310 Million Prop Trading Fraud: Regulators Freeze Assets of My Forex Funds

  • Action has been taken against two companies operating My Forex Funds and their owner.
  • The platform has more than 135,000 customers, who paid about $310 million in fees.
by Arnab Shome
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