MyForexFunds Is Coming Back: Legal Victory, Assets Recovered, and What Happens Next
After nearly two years of silence, MyForexFunds has won its legal battle against the CFTC, reclaimed its assets, and published a relaunch roadmap. We break down what really happened — and what comes next.
Once the largest prop trading firm in the world, MyForexFunds (MFF) was shut down overnight in August 2023 following an emergency court order obtained by the U.S. Commodity Futures Trading Commission (CFTC). Over 60,000 funded traders across 80+ countries were locked out instantly. Accounts frozen. Payouts cancelled.
Now, nearly two years later, the story has taken a dramatic turn.
What Happened in 2023?
The CFTC filed a lawsuit against Traders Global Group Inc. — the parent company of MyForexFunds — alleging fraud, operating as an unregistered foreign exchange dealer, and manipulating trade execution. The allegations were severe, and the firm never got the chance to formally defend itself before operations were halted.
At the time, MFF was processing approximately 2,000 new customers per day. The shutdown was immediate and total.
The Legal Comeback
In May 2025, U.S. District Judge Edward S. Kiel dismissed the CFTC's case — with prejudice, meaning it cannot be refiled.
The dismissal followed a recommendation by Special Master Jose L. Linares, who found that CFTC staff had made multiple false statements in sworn declarations. The most notable example: the CFTC had characterized a CAD $31.5 million transfer as evidence of "asset dissipation" — despite having received an email from the Ontario Securities Commission twelve days before filing, confirming the transfer was a legitimate corporate tax payment to Canada Revenue Agency.
The CFTC knew. They filed the case anyway.
As a result, the agency was sanctioned $3.1 million in attorney fees for willful misconduct. Five CFTC staff members — four lawyers and one investigator — were placed on administrative leave. The court described the agency's conduct as "bad faith, obfuscation, and avoidance."
MFF CEO Murtuza Kazmi called it "a complete vindication for MyForexFunds in the United States."
What Happened in Canada?
Parallel to the U.S. proceedings, MFF was subject to receivership in Ontario, Canada. By December 2025, the Ontario court issued a final order significantly scaling back the receivership and approving the full handover of business assets back to the company.
The Canadian assets have since been returned, and the receivership process has been largely concluded.
Where Things Stand in 2026
As of May 2026, MyForexFunds has cleared the most significant legal and regulatory hurdles. The current state of their roadmap:
- ✅ CFTC case dismissed with prejudice
- ✅ Canadian receivership unwound
- ✅ Business assets returned
- 🟡 Systems and data recovery — in progress
- 🟡 Outstanding payout processing — emails being sent to eligible traders
- 🔲 Official relaunch for new traders — no confirmed date yet
The firm has publicly committed to honoring all valid, verified payout requests from August 2023. No specific relaunch date has been announced — MFF has stated it is conducting a full operational and financial review before reopening to new traders.
Should Traders Trust MFF Again?
That is a question only each trader can answer for themselves. What is factually clear is that the U.S. court found no fraud upheld against the firm, and the regulatory agency responsible for the shutdown was itself found to have acted in bad faith.
Whether that is enough to rebuild trust with 60,000+ traders who were left without access to their accounts for over two years remains to be seen.
What is certain is that the prop trading industry is watching closely. If MyForexFunds relaunches, it will be one of the most significant comebacks the industry has ever seen.
Stay updated on PropTradingArea.com — we track every development as it happens.
