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My Forex Funds - Discussion/Q&A

  • #701
  • Sep 2, 2023 7:54am Sep 2, 2023 7:54am
Quoting MyForexFunds
{quote} Hello Boulder, It shouldn't be an issue as long as your IP do not match with other traders. Wishing you a good trip. Sincerely, Yavuz Karadeniz Director - Customer Care www.myforexfunds.com
Are you going to explain what the heck is going on or should i handle you personally? Looks like you are from Turkey, Yavuz. I can sue you personally for working & adveritsing for an illegal company.

These people want their money back & they expect an explanation
You have to have an IQ higher than 90 to interact with this user.
  • #702
  • Edited 2:33pm Sep 2, 2023 10:00am | Edited 2:33pm
Quoting Nordling
{quote} Are you going to explain what the heck is going on or should i handle you personally? Looks like you are from Turkey, Yavuz. I can sue you personally for working & adveritsing for an illegal company. These people want their money back & they expect an explanation
Considering that the lawsuit claims MFF was operating a business that requires Commission licensing but were not licensed, plus claims of fraudulently amassing over $300 million dollars, I expect that MFF will lose the case and be required to pay restitution plus fines, resulting in bankruptcy. So it looks to me like everyone with profits sitting in their accounts and everyone who was expecting a payout can say goodbye to that money. There might be either a very few people that receive some modest portion of what they are due, or possibly a larger group that would receive a few dollars. And I think the company will close and the owner likely be taken to court under criminal charges.
To free Gazans of Hamas, use whatever it takes.
  • #703
  • Sep 2, 2023 10:23am Sep 2, 2023 10:23am
Quoting Nordling
CFTC report on MFF scam summed up: 1. They didn't send your orders to the market. (B-book) So they make money when you lose money, they lose when you win. 2. They used an algorithm against customers in order to provide the worst price. 3. Only around 100 customers was in a-book. This guy explains it: https://www.youtube.com/watch?v=B5FlIWmM4i4
Hmmmm......sounds like any market-maker "regulated" under the CFTC, doesn't it?
  • #704
  • Sep 2, 2023 10:29am Sep 2, 2023 10:29am
Quoting cuchuflito
"CFTC Charges “My Forex Funds” with Fraudulently Taking Over $300 Million From Customers Hoping to Become Professional Traders" But CFTC took the money now, or at least froze it. I have been with MFF for over a year, have no complains, read hundreds of Discord posts of satisfied customers, getting paid without delay. Now these "regulators" come in and hurt thousands of traders, everybody lost their initial investment, many were waiting for payments, and the worst, many who made it to scale their accounts lost all tat time,...
Farting against thunder I'm afraid.
  • #705
  • Sep 2, 2023 11:09am Sep 2, 2023 11:09am
Quoting pipmaster77
{quote} Hmmmm......sounds like any market-maker "regulated" under the CFTC, doesn't it?
Almost....almost...
A few key difference that they did register their activity for what it is.
In their TOS state clearly that they act as counterparty.
Also don't offer to back you with their funds, when there isn't such happening.
And they are fined when they caught cheating, for example like FXCM was on asymmetric slippage, or the old VDP, etc.

These pseudo props filled the void that the regulators created when banned binary options firms, who were actually running very much the same practices.

MFF is finished, not a question, a fact. Way too much proof listed to back the case up, that 40 pages makes a long read.

Maybe E8 with their Texas virtual office address, and whatever was the name with the Las Vegas virtual office should be the next to worry, and soon enough FCA will look for those UK virtual offices and phone numbers too.

But perhaps by then the creative minds will already cook up the next big thing. Retail trader's need ( or greed) isn't going away anytime soon.
there is always, always another trade!!
  • #706
  • Sep 2, 2023 11:17am Sep 2, 2023 11:17am
Quoting profitfarmer
{quote} Almost....almost... A few key difference that they did register their activity for what it is. In their TOS state clearly that they act as counterparty. Also don't offer to back you with their funds, when there isn't such happening. And they are fined when they caught cheating, for example like FXCM was on asymmetric slippage, or the old VDP, etc. These pseudo props filled the void that the regulators created when banned binary options firms, who were actually running very much the same practices. MFF is finished, not a question, a fact....
Just wait until navk will reply saying that maybe it is a conspiracy against mff and other prop firms and regulators are the fraud in fact.

oh, but wait, he already said/implied that several times already...
On ignore list of scammers, deceivers and low IQ individuals. Exclusively
  • #707
  • Sep 2, 2023 12:51pm Sep 2, 2023 12:51pm
Anyone who believed that a situation like this would not happen sooner or later must have lived in a different solar system. How someone could have assumed that the main source of income would be derived from actual trading when these “trading firms” pay out 80-90% of “ profits” is beyond my comprehension. I am not doubting that they done that in cases where traders were good enough to sail unharmed through their web of deceptions and traps. But of course that was only possible because their main source of income was derived from a totally different business model. Read thru the terms and conditions of all these so called “trading firms” and it should have been clear that commissions paid out cannot have been derived from actual trading, no matter what they proclaim. I never seen any public records of that either. Not saying, that for those who qualified as traders live wasnt good. I am also not proclaiming that these so called regulatory bodies are not just as deceiving as any of these prop firms. The truth probably lies somewhere in the middle. But I dont think its up for discussion who is sitting at the steering wheel. In my view, this is the beginning of a new era, where this whole prop trading circus will be completely revamped over the next 12 months and paying fees to any of these firms now until everything is sorted out, is like dumping money on a Las Vegas gambling table. The future means likely, that commissions will have to be generated from real trading and will likely have to be cut down to probably around 50% at the most. Fees also will have to go south. Whether these firms choose to stick around if money has to be earned the hard way remains to be seen. Looking at these firms, most of them are run by kids, thats another factor that would not make me feel too comfortable.
Murtuza Kazmi, you are really a genius. 135.000 “ customers” paying you over 300 Mio. USD within roughly 2 years. You have my admiration because you saw the well of suckers at your disposal. I congratulate you, you deserve all of your houses and automobiles and wives, I really mean that. Just give one or two to Rostin Behnam and everything is gonna be allright. You been the chosen one but dont feel bad, once authorities go after FTMO or any other firm, things wont be too much different.
  • #708
  • Sep 2, 2023 2:42pm Sep 2, 2023 2:42pm
" without prior notice or discussion. . ."

That line by MFF spokesman gave me a good laugh.

"OH, you devious regulators! You pounced on my company without giving any warning, so I had no opportunity to hide as much as possible of my [ill-gotten] assets before you officially moved on me!"
To free Gazans of Hamas, use whatever it takes.
  • #709
  • Sep 2, 2023 2:44pm Sep 2, 2023 2:44pm
Quoting cuchuflito
In my view, MFF was playing a fair game
There are still people naive enough to believe this?! Absolutely incredible!!!


Quoting DrDave
it looks to me like everyone with profits sitting in their accounts and everyone who was expecting a payout can say goodbye to that money.
They may get a few cents on the dollar - in about 4 years time.


Quoting DrDave
I think the company will close and the owner likely be taken to court under criminal charges.
That’s an absolute certainty.
  • #710
  • Sep 2, 2023 6:08pm Sep 2, 2023 6:08pm
Quoting KarlKraus
{quote} There are still people naive enough to believe this?! Absolutely incredible!!! {quote} They may get a few cents on the dollar - in about 4 years time. {quote} That’s an absolute certainty.
As i can tell from your message,
You lost a lot of challenges,right?
Consistency will bring everything...Be good.
100% Is The Target v.1 All Time Return: -95.4%
  • #711
  • Edited 1:44am Sep 3, 2023 1:25am | Edited 1:44am
Quoting DrDave
" without prior notice or discussion. . ." That line by MFF spokesman gave me a good laugh. "OH, you devious regulators! You pounced on my company without giving any warning, so I had no opportunity to hide as much as possible of my [ill-gotten] assets before you officially moved on me!"
likely all illegally acquired money/black money distributed in different assets , may different continents in the hiding process !! anyway, looks they legalize all ponzi and other scams to run till accumulated huge money worth hunting next !
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #712
  • Sep 3, 2023 11:17am Sep 3, 2023 11:17am
Quoting Jayms
Bạn có nghĩ đây là con đường cuối cùng của mff không?
CHÀO

I think this could be the end of MFF, and I really don't expect to see a Domino's chain of disruption in the Fund industry spread to other reputable companies, but in the long run I fear it is inevitable trend if companies do not do business transparently and fairly.
By the way as a share I recommend a SYSTEMS that can beat the FX market with traders that have been around for more than 15 years since 2008 on this Forexfactory (note it's not my systems, I just saw these systems. good to share with you traders all over the world), of the masters on FF gathered to give birth to this system, Success will come if you really practice hard with it. If you are interested, you can refer to the following link
https://www.forexfactory.com/thread/...6#post14553566

Hope you get your joy back after the unnecessary loss at MFF!
  • #713
  • Sep 3, 2023 12:56pm Sep 3, 2023 12:56pm
This must be a inside job an organised loot

Persons from authority will get part of money from this scammers so nothing will happen in court also owner of this company will stay few times in jail that's it

Let's find another company until they loot us
  • #714
  • Sep 14, 2023 1:34pm Sep 14, 2023 1:34pm
is 14 september and nothing from your side !?Lets asume you will come back do you think that can rebulid your reputations betwen clients forget about it your silenence is buring you deeper...
  • #715
  • Sep 14, 2023 2:48pm Sep 14, 2023 2:48pm
Quoting mizi123
is 14 september and nothing from your side !?Lets asume you will come back do you think that can rebulid your reputations betwen clients forget about it your silenence is buring you deeper...
The case has been moved. They aren't allowed to speak its court order freeze. They can't act like they are doing business or they break the freeze.
  • #716
  • Edited 5:06pm Sep 16, 2023 4:52pm | Edited 5:06pm
Apart from FTMO, can someone recommend other fair prop firms I can choose from while waiting on the outcome of MFF. Many thanks.
  • #717
  • Sep 21, 2023 9:59am Sep 21, 2023 9:59am
Quoting mizi123
is 14 september and nothing from your side !?Lets asume you will come back do you think that can rebulid your reputations betwen clients forget about it your silenence is buring you deeper...
https://www.financemagnates.com/fore...fraud-traders/
  • #718
  • Sep 21, 2023 1:28pm Sep 21, 2023 1:28pm
Quoting forexhack
MFF SCAM On forexfactory you can clearly see the picture I have only 2 IPs that My forex funds(MFF) gives 4 IPs but none of them coincide with the other 4 IPs. But MFF intentionally locked my account, a very blatant scam. I have a team that is working with lawyers in Canada to prepare documents to sue them MFF in court. Then they will see this wrong result. Because I am right, I have clear, accurate evidence for the attorney to bring in Court. Please wait and see Then one day they will become this Funding Talent Scam with the director arrested in...
really a scamsters and you are very right.They also disqualified my account earlier when i was about to withdraw $2000.Then,presently was taking another challenge & suddenly this account frozen events...They have been scamming since day 1.People Just go back and read those comments by the so called rep of scam mff & how naive we have been fooled with their smooth lies for a long time.Let them rot in jail & loose all their ill gotten money.
-CKB
  • #719
  • Sep 22, 2023 5:03am Sep 22, 2023 5:03am
Quoting Takisd
{quote} https://www.financemagnates.com/fore...fraud-traders/
They and all prop firms are now exopsed very "naced"..
  • #720
  • Sep 22, 2023 5:05am Sep 22, 2023 5:05am
Quoting mirrfx
{quote} really a scamsters and you are very right.They also disqualified my account earlier when i was about to withdraw $2000.Then,presently was taking another challenge & suddenly this account frozen events...They have been scamming since day 1.People Just go back and read those comments by the so called rep of scam mff & how naive we have been fooled with their smooth lies for a long time.Let them rot in jail & loose all their ill gotten money.
Ameen
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