Yes, I personally know someone who withdrew 5 to 6 figures in one transaction
A member here, The Prop Firm Fallacy : myForexFunds is now myFrozenFunds, has posted this in another thread on prop trading. I thought Iâd share it here since some of you have crossed over into the world of prop trading.
CFTC Charges âMy Forex Fundsâ with Fraudulently Taking Over $300 Million From Customers Hoping to Become Professional Traders
Court Issues Restraining Order Instituting Asset Freeze
September 01, 2023
Washington, D.C. â The Commodity Futures Trading Commission today announced it filed a complaint in the U.S. District Court for the District of New Jersey against Murtuza Kazmi, formerly of Phillipsburg, New Jersey, and his companies, Traders Global Group Inc., a New Jersey corporation and Traders Global Group Inc., a Canadian business organization, all doing business as âMy Forex Funds.â The complaint charges them with fraudulently soliciting customers to trade leveraged, margined, or financed retail foreign exchange (retail forex), and leveraged retail commodity transactions.
On August 29, U.S. District Court Judge Robert B. Kugler signed a statutory restraining order freezing the defendantsâ assets; requiring the defendants to submit their books and records to examination by the CFTC; and appointing a temporary receiver. A hearing on the CFTCâs motion for preliminary injunction is scheduled for September 11 before Judge Zahid N. Quraishi in Trenton, N.J.
In its continuing litigation, the CFTC seeks restitution to defrauded investors, disgorgement of ill-gotten gains, civil monetary penalties, permanent trading and registration bans, and a permanent injunction against further violations of the Commodity Exchange Act (CEA).
âThe CFTCâs case against the âMy Forex Fundsâ defendants is emblematic of our commitment to stamping out retail fraud in our markets,â said Director of Enforcement Ian McGinley. âAnyone offering or entering into leveraged retail forex contracts without registration, or offering or entering into leveraged retail commodity contracts off-exchange, is acting in clear violation of the law.â
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Yes. Not the first. Wonât be the last.
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Clearly, the entire system is corrupt<<
No truer words have ever been typed.
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Not only paying attention, but going to do something about it. It all starts with who we elect, although they seem to control who wins anyway.<<
The private interests that control the societal money system arenât going to let someone else finance politicians and corporate heads, are they? Of course not.
Wait until you admit that the money system itself is a zero-sum game fraud where one personâs net positive monetary position is, by definition, one or more other persons inextinguishable debt. Thatâs how zero-sum games work! This happens when money is lent into existence.
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If you care about crypto, itâs time to prove it
52 million Americans already own crypto. And yet, cryptoâs future in America remains uncertain. Congress is writing the rules as we speak â but they wonât vote YES until theyâve heard from you.
I found one of the best broker DominionMktsLLC 
same day withdrawal , Been trading on it for a while now. No complaints. Feels smooth. Tight spreads. Exactly what you want in a broker.
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When I tried to sigh up, the USA wasnât an option
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Not sure if this is applicable, but per their FAQ, if your country is not listed in the drop-down list when registering your account, then you may open a cryptocurrency account.
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They charge a fee for depositing cryptocurrency. Seems questionable. I could understand if they want to charge a fee for withdrawals, since itâs same-day (even though processing should be automatic), but even then, it just should not be necessary.
Just glancing; this is not a review. Thanks for sharing. More options is always good.
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I trade Dominion Markets as the broker through a Prop Frim called Funding Frontier.Havent tried it as a personal account yet. Didnt realize its not open to US traders for personal accounts. But yea I guess the way around that is to trade it through a prop firm like I do.Good luck with that bro
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Wouldnât it show up on the credit report?
Some folks are finally fighting back against this nonsense:
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Bumping this thread, Iâm unaware of any new offshore brokers, but I came across another prop firm, has anyone heard of them?
Am I trading with real money?
Yes and their reputation is sketchy at best. Plus they use 8Cap and they are crap. Honestly the only two right now that are trustworthy are FTMO and the5ers. There may be upheaval coming via regulation for all of these CFD prop firms.
Right now i only have my FTMO funded account, Tradeday futures prop account and my personal futures with AMP.
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Not giving advice, but if someone asked me about it right now, I would say to stay away from remote prop firms until things settle. Trading an already-funded account is fine, but I would not advise purchasing new challenges.
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90% of my trading is now AMP Futures.
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Question, Is there a reason you left spot forex?
AMP has been performing better than my other accounts and is in very little danger of getting shut down.
I listened to the advice I heard from many of you and started trading US30 and S&P500. My AMP account does well.
I still have my OANDA account, a decent sized account at a broker that no longer accepts new US clients, and a few tiny accounts with various other brokers.
I was never a good enough trader to consistently pass the challenges for FTMO or MFF. Not in the top 5%!
I would be interested in a thread about AMP. Lots of client software options to discuss.
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While I took a very small plunge into indices, I never fully committed, glad to see you are doing well 
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