What really happened the day MyForexFunds suddenly went offline, and why were thousands of traders locked out overnight: Here is the Truth.
After more than two years of silence tied to ongoing legal proceedings, the firm has finally broken its silence. In a detailed statement, CEO Murtuza Kazmi addressed the August 2023 shutdown that sent shockwaves across the prop trading space. According to Kazmi, the action taken by the Commodity Futures Trading Commission (CFTC) came without warning, halting operations instantly and leaving users unable to access their accounts.
The update points to a turning point in the United States. A federal judge dismissed the CFTC’s case against MyForexFunds, granted sanctions, and ordered the regulator to cover the firm’s legal fees. The court also found that the CFTC had made misleading statements in its filings tied to the shutdown. MyForexFunds describes this outcome as a clear validation of its stance after a prolonged legal battle.
MyForexFunds Breaks Silence After Two Years: Here’s the Truth
At the same time, the situation in Canada continues to unfold. An Ontario court has reduced the scope of the receivership, keeping only a portion of the funds in escrow while directing that the remaining assets will be available to the company again. The process of unwinding the receivership is still in progress, with no fixed timeline yet confirmed.
Kazmi acknowledged the disruption faced by traders, many of whom were left in uncertainty when the platform went dark. He stated that further details about the firm’s future will be available once the legal and operational situation becomes clearer.
The statement also addressed the spread of misleading narratives online, urging the community to rely strictly on official updates and court-backed information.
CEO Murtuza Kazmi has signaled that restoring trust and transparency with the trading community remains a priority. For now, traders are watching closely as the firm works through the final stages of the receivership process and prepares to outline what comes next.
For now, MyForexFunds signals one thing clearly: this chapter is not over, and more updates will be available.
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