My Forex Funds

My Forex Funds (MFF) was one of the largest prop firms globally before being shut down by the CFTC (US) and OSC (Canada) in August 2023. Regulators alleged the firm was operating as an unregistered commodity pool operator, misrepresenting trading conditions, and acting as a counterparty to client trades (meaning they profited when traders lost). The firm's assets were frozen, and the founder Murtuza Kazmi faced legal proceedings. This was a landmark case that reshaped the prop trading industry.