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  • #19,561
  • Sep 1, 2023 10:02am Sep 1, 2023 10:02am
Quoting pipmaster77
{quote} I'm going to start with FXIFY and the 5%ers high stakes. The 5%ers has had a regulatory statement on their site for years, stating they comply and can produce such documentation to any agency. The smart thing to do is small challenge and reinvest some into bigger challenges. All profits beyond that are going into my AMP account.

FXIFY? never heard, can you explain? should I study them?
in holiday till end of November
  • #19,562
  • Sep 1, 2023 10:03am Sep 1, 2023 10:03am
Quoting Takisd
There are some proper deadshit takes in this thread. Time to go watch tv. Police? Bro the regulator has frozen them. You call some nobody cop down at the local shop what you think they are going to do whilst the behemoth regulator is holding onto them? Joe down the local station he is gonna save you. I think its time we all accept that the internet is just full of absolute idiots. Regulators freeze companies due to operational activities, things the business carried out. Sometimes freezes are just "stop what you are doing and tell us what you are...
Two thoughts on this:
1/ AFAIK we only have a statement from MFF and nothing from independent/official sources. So right now it looks exactly as TPT did.
2/ How sure are you that the government wants to settle and not make an example of? Because in the latter case this won't be resolved soon.
  • #19,563
  • Sep 1, 2023 10:06am Sep 1, 2023 10:06am
Quoting Dirac
https://www.sec.gov/news/press-release/2023-154 This is interesting: The final rule will become effective 60 days after the date of publication of the adopting release in the Federal Register. The compliance date will be 365 days from the date of publication of the adopting release in the Federal Register.
That applies to traditional prop firms, not this space.
  • #19,564
  • Sep 1, 2023 10:09am Sep 1, 2023 10:09am
Quoting OutThere
{quote} Ok, thanks but you still believe Trump won, so whatever you claim, comes with a saltshaker.
and you believe Joe Biden got 80 million votes.......wake up!!!!
You're right, there is no corruption, everything is perfect, as long as there are 20 genders and everyone has 7 boosters and drives an electric car........everything is great.
  • #19,565
  • Sep 1, 2023 10:09am Sep 1, 2023 10:09am
Quoting Takisd
I think its time we all accept that the internet is just full of absolute idiots.
-Did that one a long time ago. Unfortunately, life doesn't improve much.
  • #19,566
  • Sep 1, 2023 10:11am Sep 1, 2023 10:11am
Quoting forexbali
{quote} FXIFY? never heard, can you explain? should I study them?
they just started may this year. supposed to be best newcomer prop according to may survey, made my first withdrawal very fast. they have no major scandals so far aside from the common 1 star reviews on trustpilot due to slow/bad customer service.
  • #19,567
  • Sep 1, 2023 10:11am Sep 1, 2023 10:11am
Quoting Capablanca
{quote} Some central banks have some kind of public notes on a daily basis in their sites informing about entities that had their activities suspended/revoked or warnings about entities X or Y not allowed to operate, etc. Not sure if market regulators have some sort of thing like those. That's the only think I would expect to see (if they exist), not the entire court petition or anything else, of course.
The CFTC, NFA, and SEC all have websites listing their enforcement actions.
  • #19,568
  • Sep 1, 2023 10:14am Sep 1, 2023 10:14am
Quoting pipmaster77
and drives an electric car.
-What's wrong with electric cars?
  • #19,569
  • Sep 1, 2023 10:14am Sep 1, 2023 10:14am
Quoting pipmaster77
{quote} That applies to traditional prop firms, not this space.
Yes I know, what I found interesting was the timescale, sorry I should have been clearer. Assuming MFF has the option of modifying their business, as opposed to shutting down, might they have a year to meet compliance, i.e. unlikely to be resolved in a few weeks/months.
  • #19,570
  • Sep 1, 2023 10:18am Sep 1, 2023 10:18am
Quoting Nsak3y
{quote}-What's wrong with electric cars?
Nothing at the moment, but power generation and transmission will be. Bullish for copper.
  • #19,571
  • Sep 1, 2023 10:18am Sep 1, 2023 10:18am
Quoting Nsak3y
{quote}-What's wrong with electric cars?
Nothing is wrong with electric cars, if that's your thing, other than being FORCED to buy one.
  • #19,572
  • Sep 1, 2023 10:25am Sep 1, 2023 10:25am
Quoting pipmaster77
{quote} Your local police department is not going to get involved with something the largest regulatory in the world is already investigating.......are you people being for real here?
The problem is: are you sure that MFF freezes because the largest regulatory is investigating them? Can you find any info that regulators issued? What if MFF owners fabricated the investigation and flee with 100 million dollars coming from customers?
  • #19,573
  • Sep 1, 2023 10:28am Sep 1, 2023 10:28am
Quoting ladder
{quote} The problem is: are you sure that MFF freezes because the largest regulatory is investigating them? Can you find any info that regulators issued? What if MFF owners fabricated the investigation and flee with 100 million dollars coming from customers?
It's still nothing Joe down at the local police HQ is going to handle.
  • #19,574
  • Sep 1, 2023 10:34am Sep 1, 2023 10:34am
Quoting pipmaster77
Nothing is wrong with electric cars, if that's your thing, other than being FORCED to buy one.
-Ah. I see. Thanks.
  • #19,575
  • Sep 1, 2023 10:44am Sep 1, 2023 10:44am
Quoting ladder
What if MFF owners fabricated the investigation and flee with 100 million dollars coming from customers?
-Those that make themselves publicly-known and visible are not usually the type to exit-scam. The firms that are operating mostly anonymously are generally the ones that you have to worry about. Also, firms that legitimately fail should not be equated to those that set out to scam people.

I believe that MFF will sort out their problems, eventually. Certainly, out of all of the firms, MFF would be the last firm that I would expect to scam people. There may be some changes that have to occur, maybe even some bigger ones, but any delays should only be temporary.

If I am wrong about that, then I do believe that they would consider relocating in order to continue operations on some level, simply because they have invested too much time and money into their current ventures and they have seen great success from that. Time will tell, but panic and wild speculation is unnecessary, in my opinion.
  • #19,576
  • Sep 1, 2023 10:54am Sep 1, 2023 10:54am
A public person doing a rug pull of this size would get life in prison and be found really easily. MFF is/was a 400m + company.
  • #19,577
  • Sep 1, 2023 10:55am Sep 1, 2023 10:55am
Quoting tue5
{quote} This is a serious claim. On what basis are you saying this? Do you have any evidence? I'm curious, to be honest.

mff placed a message on 25 august about cheaters active with oil trading. And due that mff lost its good position with their liquidity provider (claim of mff). Because this message is couple of days ago it could be related to what is now happening. And what are "cheaters"? Apparently something went on that caused mff to loose trades.
  • #19,578
  • Sep 1, 2023 11:08am Sep 1, 2023 11:08am
Quoting pipmaster77
{quote} and you believe Joe Biden got 80 million votes.......wake up!!!! You're right, there is no corruption, everything is perfect, as long as there are 20 genders and everyone has 7 boosters and drives an electric car........everything is great.
Yes Rudy, Joe Biden got 80 million votes.
  • #19,579
  • Sep 1, 2023 11:21am Sep 1, 2023 11:21am
The good thing about MFF having made so much money is that a good chunk of monies invested by traders in challenges maybe recoverable and maybe the fees can be at least partially refunded. Of course va bunch of luxury items and properties have to be sold off first.

The regulators may decide to appropriate all the money into some anti Ponzi investigation fund or find a way to make it all disappear into government coffers.
Knowing how class action suit is prevalent in US, someone may organize a movement. If the records are well kept and not destroyed, it'll be obvious who sent MFF money and who received money. I'm sure it will be a colossal mess for years to come.
  • #19,580
  • Sep 1, 2023 11:27am Sep 1, 2023 11:27am
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