What is Happening? My Forex Funds Regulatory Issues!

In a startling turn of events, My Forex Funds finds itself trapped in regulatory issues as Canadian provincial securities regulators and their counterparts in the United States have issued freeze orders on the firm’s trading activities and access to its bank accounts.

The freeze orders were imposed without any prior notice or discussion. This leaves My Forex Funds in a risky position. Currently, they are unable to conduct its regular business operations. This development casts a shadow over the firm’s future prospects and has raised concerns within the global financial community.

My Forex Funds Regulatory Issues- Freeze Orders?

In response to these unexpected restrictions, My Forex Funds has expressed its commitment to engage with the regulatory bodies involved to address their concerns. The firm is actively pursuing discussions to clarify the nature of these freeze orders and work toward a resolution.

The first crucial step in this process is a court date which will be on September 11, 2023, in the United States. The legality of the freeze orders are going to be scrutinized. Subsequently, another hearing is going to take place later in the same week in Canada. These legal proceedings will play a pivotal role.

The management of My Forex Funds remains optimistic that they will overcome this regulatory hurdle swiftly and efficiently. This will allow the firm to resume its normal operations. They have assured their clients and partners that they will keep them updated on the situation as it unfolds.

This unexpected turn of events serves as a blunt reminder of the complex regulatory landscape that financial institutions operate within. Here is the Twitter Post where they announced it. 

About the Firm

My Forex Funds is a proprietary trading firm founded in July 2020 whose CEO is Murtuza Kazmi. They have offices located in Toronto, Canada. Their headquarters are located in a region of Canada.

Here is the Review.