I think I read somewhere when it comes to court in the US and CFTC or government body is involved the chance that the other side (MFF) wins is low single digit percentage.
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Disliked{quote} They would return fees to clients or investors and seize any other funds left over.Ignored
Disliked{quote} And the fact is no profits earned by Firm..all are challenge fees. US and Canada should repay all money to all Investers since inception. Will they do ??Ignored
DislikedI read the whole court petition and this seems very bad for MFF and founder. They have to handle all assets to a temporary receiver in 10 days, which means that they won't have any funds any time soon. And charges include fraud for not disclosing or mislead people about several things: - That MFF win when customers win, which is false - That we trade in live market, which is false, except for a small minority - That commissions are real, which is false (it's just a way of taking a small amount from the account each time people trade) - That slippage...Ignored
DislikedKazmi has used the proceeds from the Traders Global fraud to fund a luxury lifestyle. 74. In April 2022, Kazmi paid $1.6 million to purchase a Lamborghini Aventador at auction. In December 2022, Kazmi paid $3.3 million for a Bugatti racecar. 75. In April and May 2022, Kazmi paid more than CAD 4.9 million towards the purchase of a CAD 12.6 million estate in Richmond Hill, Ontario. In June 2022, Kazmi paid almost $1.03 million to purchase a five-bedroom home in Somerset, New Jersey.Ignored
DislikedThe complaint charges them with fraudulently soliciting customers to trade leveraged, margined, or financed retail foreign exchange (retail forex), and leveraged retail commodity transactions. thats the relevent sentence...retail commodities transactions....thats owned by the CME and globex exchange. regulators dont give a shit about the little people getting scammed...banks do it every day and end up paying fines when their caught all MFF and every other prop firm that let some poor slob from some shitty little country without paying the exchanges...Ignored
Disliked{quote} There is still Oanda in the US and they are offering CFDs and also CFDs on commodities too, but are they paying some fees to CFTC for that kind of "futures" trading ?Ignored
Dislikedoanda doesnt offer cfd's in usa...its illegal... theyd have to become futures brokers like amp or interactbrokers or ameritrade etc.Ignored