Business Effectively Frozen at My Forex Funds!

My Forex Funds’ business is effectively, and temporarily frozen due to regulatory issues.

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In the early hours of the 1st of September, we received unsettling news about My Forex Funds, a leading proprietary trading firm in the industry. They’ve encountered regulatory issues, resulting in the freezing of their operations. However, based on the explanation we received, which you can find below, it appears they have the situation in hand and are awaiting a resolution from the authorities.

The Story behind the Temporary Business Freezing

On August 31st, My Forex Funds was caught off guard when provincial securities regulators in Canada and the commodities regulator in the United States issued orders without prior notice. These orders prohibited them from trading securities or accessing their company’s funds. Consequently, they announced a temporary halt to their business until these freeze orders are lifted or modified by regulatory authorities.

My Forex Funds has also disclosed plans to engage with the Canadian securities regulator and the U.S. commodities regulator to address their concerns. The initial court date for evaluating the freeze orders is set for September 11th in the United States, with another hearing scheduled in Canada later the same week.

Another positive part of the unexpected current situation is that the CEO of My Forex Funds, Murtuza Kazmi took the time to address their community by explaining the situation and posting the video on all of their social media platforms.

For now, at Forex Prop Reviews, we recommend patience as we await a successful resolution and the resumption of My Forex Funds’ operations as before. Both our team and the My Forex Funds team are eager for a swift resolution. Rest assured, we will keep you updated as this situation continues to unfold and progress towards a resolution.

About My Forex Funds

Learn some of the reasons why My Forex Funds is one of the leading proprietary trading firms in the entire prop trading industry:

  • Running for over three years (Incorporated in July 2020)
  • Generating the highest revenue compared to other top proprietary trading firms in the prop industry space
  • Excellent feedback from their community (4.8/5 rating out of over 17,500 comments on Trustpilot)
  • Three unique funding opportunities for traders all across the globe
  • Excellent trading conditions with favorable spreads and low commission fees
  • Additional bonuses for successfully completing both evaluation phases
  • Profit splits of up to 90%
  • Unique VIP program for all the consistently profitable traders

For more details about the company, My Forex Funds, please read our in-depth review. Also, after they resolve their regulatory issues and resume operation, be sure to use our discount code (forexpropreviews5) for a special 5% discount.

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