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  • #20,041
  • Sep 2, 2023 12:04pm Sep 2, 2023 12:04pm
Quoting Nsak3y
{quote}-. But this kind of activity, if true, upsets me. As traders, we already have enough working against us, and if they were really doing this kind of thing, then we should not be defending them in my opinion.
This is how I feel too. And I am trying to be devil's advocate with the situation as in general the expansion of the prop space has been good for lots of people whether it has been a necessary evil or just makes sense from a risk perspective but it really pisses me off when the top man turns out to have no integrity. Happy to override any moral issues in pursuit of greater profits and for what? Buying more shiny crap.
  • #20,042
  • Sep 2, 2023 12:09pm Sep 2, 2023 12:09pm
Quoting Capablanca
{quote} I agree. Very difficult, specially the way it is pictured. My previous comments / explanation is on my view, with all I learned about prop firms, specially in this topic. I'm not a least bit surprised or shocked by what is there, honnestly. If I was a judge, though. I would look into this with other eyes and saying that they are evil in classifying different customers with different classifications. A judge is not worried if market conditions are different depending if you trade 1 lot or 100 lots, if you trade during the night or during...
It's going to fall back on how they marketed themselves to the consumer. Profitable traders were promised live conditions to the benefit of themselves and MFF.

Why couldn't they do that with this particular trader? Instead they intentionally went the route to diminish his account.

The Judge is not going to like this at all.
Trade with confidence, trade without fear.
  • #20,043
  • Sep 2, 2023 12:10pm Sep 2, 2023 12:10pm
Quoting Capablanca
{quote} I agree. Very difficult, specially the way it is pictured. My previous comments / explanation is on my view, with all I learned about prop firms, specially in this topic. I'm not a least bit surprised or shocked by what is there, honnestly. If I was a judge, though. I would look into this with other eyes and saying that they are evil in classifying different customers with different classifications. A judge is not worried if market conditions are different depending if you trade 1 lot or 100 lots, if you trade during the night or during...
Exactly my point. The regulators and the judge overseeing this have never actually traded forex and have no clue why conditions would be different for different traders, different times of the day, etc......no clue whatsoever. Anyone viewing without a clue about the industry, this seems horrible. However, every broker does it every day.....and it's OK, because they are "regulated".
I know it sounds as if I am defending them, in a sense I am, because brokers are allowed to get away with this daily, probably even far worse than what is claimed here.
Brokers are counter-party to your trade, mark up spreads, adjust slippage.......everything stated in this document.
  • #20,044
  • Sep 2, 2023 12:11pm Sep 2, 2023 12:11pm
Quoting FX-DON
And I am trying to be devil's advocate with the situation as in general the expansion of the prop space has been good for lots of people whether it has been a necessary evil or just makes sense from a risk perspective but it really pisses me off when the top man turns out to have no integrity. Happy to override any moral issues in pursuit of greater profits and for what? Buying more shiny crap.
-I agree. Don't get me wrong, I appreciate and value the opportunity that the prop firm provides. I can work within its system. But I don't like bullies, cheaters or liars etc.. MFF always made it a point to say things that made it seem that they had integrity, so doing something like this is just cheap and low-class. That's all.
  • #20,045
  • Sep 2, 2023 12:15pm Sep 2, 2023 12:15pm
Quoting navk
{quote} There is more time available to us in prop firm industry. It will not die so quickly. The firms and owners know how to get away from regulatory issues. THey are more brainy than us. Infact, the I have more faith in firms and firm owners than regulators who say they protect us. If one needs growth.. get out of rules.. which restricts you. Sometimes , even governments take this step when the situation is in danger. It reminds me of my trading style for challenges. ( I am comparing my styles the last year to the current year ) When I see accuracy,,.......
So brainy that after Funding Talent Kazmi decided to keep MFF in Canada? Angelo, Dylan & Mattl don't exactly make me confident.
  • #20,046
  • Sep 2, 2023 12:18pm Sep 2, 2023 12:18pm
Quoting pipmaster77
Anyone viewing without a clue about the industry, this seems horrible. However, every broker does it every day.....and it's OK, because they are "regulated". I know it sounds as if I am defending them, in a sense I am, because brokers are allowed to get away with this daily, probably even far worse than what is claimed here. Brokers are counter-party to your trade, mark up spreads, adjust slippage.......everything stated in this document.
-Just because it is being done doesn't make it right. MFF was not acting as a broker. The fact that they were padding the spread on supposed A-booked traders is just cheap. This is not about having a clue about the industry or being a failed loser-trader. This is about exposing the true nature of what they were doing vs. what they were claiming.
  • #20,047
  • Sep 2, 2023 12:18pm Sep 2, 2023 12:18pm
Quoting Nsak3y
{quote}-There was nothing mentioned about high volume in this case. The trader was flagged due to having zero losses. That's it. The trader was deemed as being legitimate and was still placed on the aggressive profile. The decision was made to move the trader to aggressive or STP as a result of his success, in hopes that it would prevent him from winning, presumably, based on the what was said about it. The aggressive profile had nothing to do with volume. The account profiles were used to apply varying levels of delay and slippage to accounts....
I'm assuming high volume that because a trader trading 0.1 lots is not getting such high profits to raise attentions. We would need more info that the one stated to understand if moving him to the aggressive profile is wrongdoing or not.

Imagine that this is a guy with a 50K account trading 40 or 50 lots and they conclude, as it was the case, that he simply timed correctly the market.
Isn't that logic that he is moved into aggressive profile because of the high volume, instead of getting same slippage of someone that only trades 1 or 2 lots ?

Quote
-The document states that the accounts that were designate as STP were rerouted to 3rd-party dealer, where they would be exposed to real market conditions. TG applied additional, artificial slippage to those accounts (on top of the real market conditions that the traders were already experiencing).
I was trying to find this. Which number(s) is that ?
  • #20,048
  • Sep 2, 2023 12:19pm Sep 2, 2023 12:19pm
Quoting CableJ
{quote} So brainy that after Funding Talent Kazmi decided to keep MFF in Canada? Angelo, Dylan & Mattl don't exactly make me confident.
Well its their marketing strategy. People in the world have perception legal entity in North America are more trusted all over the world and Kazmi is from Canada too.
  • #20,049
  • Sep 2, 2023 12:21pm Sep 2, 2023 12:21pm
Quoting Capablanca
{quote} It had to be someone with access to the communication between the adviser and CEO. And also from some employees emails. So either an hacker (weren't they hacked some time ago ?) or internal people trying not to have troubles themselves.
Nothing is deleted. Criminal investigation warrant to ISP, google or Microsoft for emails and telecom for SMS txts gets the job done.
  • #20,050
  • Sep 2, 2023 12:23pm Sep 2, 2023 12:23pm
Quoting Capablanca
I'm assuming high volume that because a trader trading 0.1 lots is not getting such high profits to raise attentions. We would need more info that the one stated to understand if moving him to the aggressive profile is wrongdoing or not.
-Look at the entire context of the message. This was a trader that had zero losses. That's it. He was put on aggressive in hopes that he would stop being profitable. That's it.

Quoting Capablanca
Imagine that this is a guy with a 50K account trading 40 or 50 lots and they conclude, as it was the case, that he simply timed correctly the market. Isn't that logic that he is moved into aggressive profile because of the high volume, instead of getting same slippage of someone that only trades 1 or 2 lots ? I was trying to find this. Which number(s) is that ?
-We can imagine anything that we want. All we have is the conversation. Based on the conversation, the trader was good, so they decided to make things hard in hopes that he would stop being profitable. I do not know why we need to look for more here. Maybe there is more. Maybe not. If not, this looks really bad.
  • #20,051
  • Sep 2, 2023 12:23pm Sep 2, 2023 12:23pm
Quoting Nsak3y
{quote}-I agree. Don't get me wrong, I appreciate and value the opportunity that the prop firm provides. I can work within its system. But I don't like bullies, cheaters or liars etc.. MFF always made it a point to say things that made it seem that they had integrity, so doing something like this is just cheap and low-class. That's all.
Well, if lies bother you it all starts from the "we win if you win" which is the opening statement to this world and it's 100% false.

No need to go further to be annoyed.
  • #20,052
  • Sep 2, 2023 12:26pm Sep 2, 2023 12:26pm
Quoting Capablanca
Well, if lies bother you it all starts from the "we win if you win" which is the opening statement to this world and it's 100% false. No need to go further to be annoyed.
-They would win when traders win on STP. But they still chose to pad the spreads? Come on.
  • #20,053
  • Sep 2, 2023 12:27pm Sep 2, 2023 12:27pm
Quoting Nsak3y
{quote}-Look at the entire context of the message. This was a trader that had zero losses. That's it. He was put on aggressive in hopes that he would stop being profitable. That's it. {quote}-We can imagine anything that we want. All we have is the conversation. Based on the conversation, the trader was good, so they decided to make things hard in hopes that he would stop being profitable. I do not know why we need to look for more here. Maybe there is more. Maybe not. If not, this looks really bad.
Context matters definitely to make a judgement here.

We don't know volume traded, how many trades, etc.

As I said it doesn't make any sense that a guy trading 40 lots and being lucky twice or three times goes on getting the same execution of someone trading 0.1 lots.
It's normal to move a trader like this to more real trading conditions, now that he was spotted.
  • #20,054
  • Sep 2, 2023 12:30pm Sep 2, 2023 12:30pm
Quoting Capablanca
Context matters definitely to make a judgement here. We don't know volume traded, how many trades, etc. As I said it doesn't make any sense that a guy trading 40 lots and being lucky twice or three times goes on getting the same execution of someone trading 0.1 lots. It's normal to move a trader like this to more real trading conditions, now that he was spotted.
-You keep making stuff up. We know why he was flagged. He had zero losses. That's it.
  • #20,055
  • Edited Mar 31, 2026 9:19am Sep 2, 2023 12:31pm | Edited Mar 31, 2026 9:19am
91. On May 4, 2022, Traders Global Employee A asked the Advisor to put another customer on the “aggressive” profile. The Advisor advised Traders Global Employee A “this has been done;” Traders Global Employee A replied, “and the account is now dead [.]”

Just amazing what happens behind closed doors. I am not a fan of Govt,,,But I hope the govt takes every last penny Kazmi has...

This is what one calls caught dead to rights .

Heres Kazmi's $13 million pad he bought with MFF $$ referenced in Complaint.

Murtuza Kazmi, Defendant { personal information deleted by staff, per request }
Master your Mind,,,Master the Market
  • #20,056
  • Sep 2, 2023 12:34pm Sep 2, 2023 12:34pm
Quoting Nsak3y
{quote}-They would win when traders win on STP. But they still chose to pad the spreads? Come on.
Ok, you got a point here. I read once again that point and I admit I has misinterpreted wrongly before.

Quote
70. For customers on STP, Traders Global uses its specialized software to impose an additional “spread” on the price feed visible to STP’d customers. This spread results in a customer seeing—and believing himself or herself to be executed at—a worse price than what Traders Global got from the Dealer. It allows Traders Global to give less money to a winning customer and, for a losing customer, terminate the account before the losses reach the drawdown limit. (Though it will appear to the customer that he or she exceeded the drawdown limit.)...

They marked-up STP customers. This is wrongdoing, yes.
  • #20,057
  • Edited Mar 31, 2026 9:19am Sep 2, 2023 12:37pm | Edited Mar 31, 2026 9:19am
Quoting bluesteele
91. On May 4, 2022, Traders Global Employee A asked the Advisor to put another customer on the “aggressive” profile. The Advisor advised Traders Global Employee A “this has been done;” Traders Global Employee A replied, “and the account is now dead [.]” Just amazing what happens behind closed doors. I am not a fan of Govt,,,But I hope the govt takes every last penny Kazmi has... This is what one calls caught dead to rights . Heres Kazmi's $13 million pad he bought with MFF $$ referenced in Complaint. Murtuza Kazmi, Defendant { personal information deleted by staff, per request }
For a guy that cannot trade. What do you think how much Kazmi has ? $40 million or $100 million ? He netted around $172 million before taxes. Some business expenses for sure. So maybe $80 million after taxes he got or ? I am very curious to know how much the fine will be on 09/11.
  • #20,058
  • Sep 2, 2023 12:37pm Sep 2, 2023 12:37pm
Quoting Nsak3y
{quote}-You keep making stuff up. We know why he was flagged. He had zero losses. That's it.
I gave already an example why context matters.

What was the profit, what was the trading style (volume, frequency), if that was one, two or hundred trades, etc.

This in a different way: do you think a customer with 50 USD profit and zero losses would raise special attention to them ? It's the same zero losses situation.
  • #20,059
  • Sep 2, 2023 12:39pm Sep 2, 2023 12:39pm
Quoting Capablanca
They marked-up STP customers. This is wrongdoing, yes.
-Yes. If you could apply an artificial spread on top of what real market conditions are already giving a trader, imagine the difference in the profit split when payout time comes. Depending on the size and frequency of trading, that can add up to a lot of extra profit. I understand what happens in this business. I am not naive.
  • #20,060
  • Sep 2, 2023 12:39pm Sep 2, 2023 12:39pm
Quoting CableJ
{quote} So brainy that after Funding Talent Kazmi decided to keep MFF in Canada? Angelo, Dylan & Mattl don't exactly make me confident.
Did you ever see the movie; The Great Escape? Been decades since I saw it but a couple of the guys who had escaped, went took shelter inside the waiting room of a police station because the cold and homeless often found a refuge in such places and the last place those looking for the escapees would look in, would be inside a police station. So, MFF operating right under the nose of regulators was probably an attempt to hide in plain view I think.
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