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  • #28,141
  • Jan 11, 2024 11:07pm Jan 11, 2024 11:07pm
It is almost certain that MFF won't come back. Murtuza seems very tired and upset in the affidavit. Our money will flow into CFTC's pocket as penalties. The agency that is supposed to protect traders robs traders.

We have signed contracts with MFF which should be respected. CFTC should allow MFF to finish refund of passed challenges and due payouts, and probably return ongoing challenge fees. But clearly CFTC wants all of the money MFF has.
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  • #28,142
  • Jan 12, 2024 12:55am Jan 12, 2024 12:55am
Quoting ladder
It is almost certain that MFF won't come back. Murtuza seems very tired and upset in the affidavit. Our money will flow into CFTC's pocket as penalties. The agency that is supposed to protect traders robs traders. We have signed contracts with MFF which should be respected. CFTC should allow MFF to finish refund of passed challenges and due payouts, and probably return ongoing challenge fees. But clearly CFTC wants all of the money MFF has. {image}
You should take everything above with a very large grain of salt. The affidavit is written to get sympathy votes. Thats what affidavits of people who are defendants are. To make huge assumptions from 4 words in an affidavit is pointless and does nothing but lead to negative public biases. The whole MFF thing is a non stop back and forth of emotions where the public thinks tomorrow they will be back or tomorrow they will disappear with everything gone. Until its concluded, no point talking about it unless clicks and attention are the goal. If rulings happen surely bring up the rulings but speculation on outcome is useless and MFF cant publicly state what their intentions are or how they feel as it would jeopardize themselves. Talking about never coming back or paying people anything is reckless because no one has any clue what the intentions of Murtuza are.
  • #28,143
  • Jan 12, 2024 1:00am Jan 12, 2024 1:00am
Quoting FocusWinReal
{quote} PM what do you think the logic is behind their rule of having minimun of 3 days of 0.5% return per phase?
People asked that same question on the Youtube live release and the answer was they did not want gamblers coming in and trying to finish in one day. So this was there way of slowing people down.
  • #28,144
  • Jan 12, 2024 1:39am Jan 12, 2024 1:39am
Quoting Takisd
{quote} You should take everything above with a very large grain of salt. The affidavit is written to get sympathy votes. Thats what affidavits of people who are defendants are. To make huge assumptions from 4 words in an affidavit is pointless and does nothing but lead to negative public biases. The whole MFF thing is a non stop back and forth of emotions where the public thinks tomorrow they will be back or tomorrow they will disappear with everything gone. Until its concluded, no point talking about it unless clicks and attention are the goal....
where can I read the affidavit? Thanks
  • #28,145
  • Jan 12, 2024 2:05am Jan 12, 2024 2:05am
Quoting KingLLL
{quote} where can I read the affidavit? Thanks
I can summarize it for you. Otherwise via the various public record providers online.

- This is unfair
- I am a good person
- There are many companies doing the same business
- They destroyed a thriving business
- If they spoke to us before their action we would have co-operated.

Its not really worth reading, from the affidavit itself there is only one line that people seem to grab onto and that is the one about potentially not continuing business. Which is a pity line. But apparently it sets the dooms day narrative to rally the public and their pitchforks and boy are there a lot of people who likely have 0 skin in the game hoping that the pitch forks are out for MFF.
  • #28,146
  • Jan 12, 2024 4:10am Jan 12, 2024 4:10am
Quoting woody70
{quote} People asked that same question on the Youtube live release and the answer was they did not want gamblers coming in and trying to finish in one day. So this was there way of slowing people down.
Ok that makes sense. Thanks woody.
  • #28,147
  • Jan 12, 2024 4:43am Jan 12, 2024 4:43am
Quoting Expo33
So if I go to play blackjack at a casino and my buddy and I each wager a $5 chip and he wins and I lose I will have to call the Pit Boss over and demand that he/she/they/it/ze/zer puts a sign up saying that all winning bets are paid from other player's losing bets. Having that information in advance will guarantee that I'll be a winning player because I'm too stupid to figure it out on my own. Can you believe the nerve of these casinos trying to trick me like that?
Ive yet to see a casino or bookmaker advertise with the slogan "when you win, we win". As Ive repeatedly said, MFF (and all the other firms actually) should have gone down the road IG and other spread betting firms went and made it clear that you are trading against them and that your trades are not placed in the real market.

Anyway, onwards and upwards...its Friday, lets see what the market brings us today.
  • #28,148
  • Jan 12, 2024 5:47am Jan 12, 2024 5:47am
Quoting FocusWinReal
{quote} PM what do you think the logic is behind their rule of having minimun of 3 days of 0.5% return per phase?
It's a way to avoid people passing in just 1 day.
And they do that with an objective rule that anyone can understand instead of those props that have very subjective rules.
  • #28,149
  • Jan 12, 2024 6:01am Jan 12, 2024 6:01am
Quoting Takisd
You should take everything above with a very large grain of salt. The affidavit is written to get sympathy votes.
-Yes. But what is being said is also true. The CFTC has destroyed a business, taken money and jobs from hard-working people and has no care in the world about it. And all for what? Because they feel that the business should have paid for permission first? What harm did MFF actually cause to people? The CFTC will not be held accountable in any way, shape or form.

The CFTC could have tried to work with MFF, but they didn't. They are not really about helping or protecting anyone. They are about enforcing and collecting. It honestly reminds me of the mob; how they would force businesses to pay them for protection, when in actuality, they were really just taxing businesses and acting like bullies. The businesses that refused to pay, or couldn't afford to pay, would get beaten to death and have their businesses destroyed etc.. The businesses weren't paying for protection, they were paying for permission.

This is exactly what the CFTC does. They have become enforcers and collectors, that will protect their own interests at all costs.
  • #28,150
  • Jan 12, 2024 6:11am Jan 12, 2024 6:11am
Quoting Nsak3y
{quote}-Yes. But what is being said is also true. The CFTC has destroyed a business, taken money and jobs from hard-working people and has no care in the world about it. And all for what? Because they feel that the business should have paid for permission first? What harm did MFF actually cause to people? The CFTC will not be held accountable in any way, shape or form. The CFTC could have tried to work with MFF, but they didn't. They are not really about helping or protecting anyone. They are about enforcing and collecting. It honestly reminds me...
the only thing that matters is the end result. And these things twist and turn all the time. Predicting out comes is a fools game
  • #28,151
  • Jan 12, 2024 6:35am Jan 12, 2024 6:35am
Quoting FocusWinReal
{quote} Ok that makes sense. Thanks woody.
No Problem.
  • #28,152
  • Jan 12, 2024 6:45am Jan 12, 2024 6:45am
Quoting Nsak3y
{quote}-Yes. But what is being said is also true. The CFTC has destroyed a business, taken money and jobs from hard-working people and has no care in the world about it. And all for what? Because they feel that the business should have paid for permission first? What harm did MFF actually cause to people? The CFTC will not be held accountable in any way, shape or form. The CFTC could have tried to work with MFF, but they didn't. They are not really about helping or protecting anyone. They are about enforcing and collecting. It honestly reminds me...
Is it possible that your posts are presented to the judge and jury?
  • #28,153
  • Jan 12, 2024 7:11am Jan 12, 2024 7:11am
Quoting woody70
{quote} People asked that same question on the Youtube live release and the answer was they did not want gamblers coming in and trying to finish in one day. So this was there way of slowing people down.
Didn't see the video, but that was my assumption as well.
  • #28,154
  • Jan 12, 2024 7:14am Jan 12, 2024 7:14am
Quoting Nsak3y
{quote}-Yes. But what is being said is also true. The CFTC has destroyed a business, taken money and jobs from hard-working people and has no care in the world about it. And all for what? Because they feel that the business should have paid for permission first? What harm did MFF actually cause to people? The CFTC will not be held accountable in any way, shape or form. The CFTC could have tried to work with MFF, but they didn't. They are not really about helping or protecting anyone. They are about enforcing and collecting. It honestly reminds me...
Perfect, 100% dead on description. I literally cannot come up with one thing they have done to benefit the public. Look at all of the fraud that took place right under their noses....those folks must have paid their "taxes".
  • #28,155
  • Edited 7:29am Jan 12, 2024 7:16am | Edited 7:29am
Quoting Takisd
the only thing that matters is the end result.
-But I just cannot agree with that.

Quoting Takisd
Predicting out comes is a fools game
-I can agree with that.
  • #28,156
  • Jan 12, 2024 7:26am Jan 12, 2024 7:26am
Quoting ladder
Is it possible that your posts are presented to the judge and jury?
-You mean the early-morning ramblings that flow like diarrhea? Probably not. And if they could, it probably wouldn't change much. The CFTC will continue to operate unchecked until enough people start caring enough to change things. And that will probably never happen in our lifetime since most people will never have any dealings with the CFTC or even know anything about them.
  • #28,157
  • Jan 12, 2024 7:36am Jan 12, 2024 7:36am
Quoting FocusWinReal
{quote} Propdude can you explain why video game fx doesn't like scalpers? Because it's too risky for them to mitigate? And how is futures different in that respect?
Futures brokers are essentially neutral and are executing your trades on a centralised exchange to buy and sell the contracts on that exchange. They're not the broker's contracts, and they charge a commission for doing so. They don't really care how liquid the underlying is and whether you'll get filled where you want etc because that's the exchange's problem. All they're doing is putting you in an external order book and receiving a commission no matter what.

An Over The Counter CFD broker is creating its own market. It has to create its own order book (market making). I'm excluding DMA / level 2 CFDs here, as the brokers in question and shady offshore brokers won't be offering that.

The order book has depth (like a Futures DOM / ladder). There are only so many contracts available at the top of book price i.e. the market price which will be displayed on whatever trading platform you're using. If all those contracts are scalped away by people who take 100s of trades then the other traders / customers will be getting worse fills as they need to move away from the market price (deeper down the order book) to find available contracts. This isn't good for business as then people complain about slippage / bad fills and take their business elsewhere.
  • #28,158
  • Jan 12, 2024 7:37am Jan 12, 2024 7:37am
Quoting Nsak3y
{quote}-Yes. But what is being said is also true. The CFTC has destroyed a business, taken money and jobs from hard-working people and has no care in the world about it. And all for what? Because they feel that the business should have paid for permission first? What harm did MFF actually cause to people? The CFTC will not be held accountable in any way, shape or form. The CFTC could have tried to work with MFF, but they didn't. They are not really about helping or protecting anyone. They are about enforcing and collecting. It honestly reminds me...
Just so Im clear, is your assertion that MFF are the victim here?
  • #28,159
  • Jan 12, 2024 7:38am Jan 12, 2024 7:38am
Quoting Zuke
Just so Im clear, is your assertion that MFF are the victim here?
ZZZzzz
  • #28,160
  • Jan 12, 2024 7:55am Jan 12, 2024 7:55am
Quoting Nsak3y
{quote} ZZZzzz
Genuine question...are you willing/able to answer?
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