Company Information

Get to know My Forex Funds

Founded in 2020 by Murtuza Kazmi, My Forex Funds rapidly grew into one of the leading proprietary trading firms in the industry. The company's business model was to offer undercapitalized traders the opportunity to trade with company funds (up to $2 million) by first passing a multi-phase evaluation challenge, for which they paid a fee. Successful traders would then enter a profit-sharing agreement with the firm. In August and September 2023, the company's operations were abruptly halted, and its assets were frozen by financial regulators in Canada and the United States, who accused the firm and its CEO of large-scale fraud.

Industry

Forex Retail BrokerPRIMARY
Financial Other Service
Technology Software Trading Platform

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My Forex Funds

Canada

Founded in

2020 (6 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

Licenses

--/40

Reviews

--/60

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Markets.com

(326 reviews)

United States

2008

(18 years)

Security Information :

FSCA

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.