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  • #30,041
  • Feb 11, 2024 2:12pm Feb 11, 2024 2:12pm
Quoting sampat
I feel like those who complains about MyFF is never traded anywhere or just bad looser
-Or, they have some agenda.

I honestly would not be surprised if some members were actually here for the sole purpose of spreading misinformation and attempting to sway public opinion etc.. Based on some of the comments that we have seen, what other reason would some members deliberately choose to keep coming back here, when we all know that they have no interest, whatsoever, in trading with prop firms?

Even a disgruntled trader would stop after a few posts, but some of these guys keep coming back, day after day, with their nonsense. If they're not getting paid to do it, then what kind of life is that?
  • #30,042
  • Feb 11, 2024 2:12pm Feb 11, 2024 2:12pm
Quoting sampat
{quote} I feel like those who complains about MyFF is never traded anywhere or just bad looser because if you are in US and Canada and have traded with Oanda and Forex.com knows what slippage is and what kind of manipulation they are doing and what CFTC is doing to prevent it. Grapes are always sour for a looser. MyFF was the best thing that prop firm could have. Never had payment or withdrawal issue.
How about CMC markets ? Why they ask SIN number for opening account ?

They offer for canadians.

And IFC markets ? They offer fixed spreads.
Intraday only.
  • #30,043
  • Feb 11, 2024 2:14pm Feb 11, 2024 2:14pm
Quoting PropDude1234
So do the CFTC. Are they defaming too?
-You are not making accusations. You are stating it as fact. Maybe consider rewording your posts if you do not wish to have this conversation.
  • #30,044
  • Feb 11, 2024 2:15pm Feb 11, 2024 2:15pm
Quoting PropDude1234
{quote}So do the CFTC. Are they defaming too? Court docket is here if you want to know all the info: https://www.courtlistener.com/docket...bal-group-inc/ Regardless of the actual outcomes, the evidence so far has satisfied a court that there's a case to answer and the investigation itself that has caused all the scrutiny on the industry. Whether you blame the CFTC of MFF, or a bit of both is another matter. {quote}I don't see FPFX involved with the CFTC and courts. We're talking...
No we aren't. The scrutiny from metaquotes has nothing to do with MFF. They had no liability until recently from a different case. As I mentioned before, you tried to highlight this but clearly you don't know metaquotes. Which likely means you are very new to the forex tech world. Until very recently they didn't give 2 fucks about cases that appeared, they merely terminated, complied with subpoenas and wiped their hands of it.
Now they have liability (again nothing to do with MFF) and they start taking actions against offshore scams, unregulated platforms and US residents.

You seem to be here to just tell everyone anytime something prop firms pops up that its MFF's fault.

FE gets PR carpet bombed by FPFX - Must be MFF's fault
Metaquotes taking action against usage by US residents - Must be MFF's fault
Matt Leech ran out of hand lube for self gratification - Must be MFF's fault.
You are incapable of having a discussion here outside of something being MFF's fault. What is your purpose of posting? We heard you, we get your position, everything is MFF's fault.

I asked you a question outside of MFF and you deflected. I wonder why.
  • #30,045
  • Feb 11, 2024 2:21pm Feb 11, 2024 2:21pm
Quoting navk
{quote} How about CMC markets ? Why they ask SIN number for opening account ? They offer for canadians. And IFC markets ? They offer fixed spreads.
Because CMC have Canadian branch they will ask all crap. If you want anything in Canada and don't mind platform (MT4) you can use Interactive Brokers. They have MT5 bridge otherwise sugar daddy (Forex.com) and sugar mommy (Oanda.com) is always there at your service . You can use interactive brokers to trade your favorite GBP/USD futures 6B without any additional documents
  • #30,046
  • Feb 11, 2024 2:24pm Feb 11, 2024 2:24pm
Quoting Takisd
{quote} No we aren't. The scrutiny from metaquotes has nothing to do with MFF. They had no liability until recently from a different case. As I mentioned before, you tried to highlight this but clearly you don't know metaquotes. Which likely means you are very new to the forex tech world. Until very recently they didn't give 2 fucks about cases that appeared, they merely terminated, complied with subpoenas and wiped their hands of it. Now they have liability (again nothing to do with MFF) and they start taking actions against offshore scams, unregulated...
MFF case was pushed to Feb end.

Any update you know, please share.

I would love to see them again, that will be revival for prop Industry as a whole.
Intraday only.
  • #30,047
  • Feb 11, 2024 2:30pm Feb 11, 2024 2:30pm
Quoting navk
{quote} MFF case was pushed to Feb end. Any update you know, please share. I would love to see them again, that will be revival for prop Industry as a whole.
There is no update. Presumably there are discussions about settlement. Based on the posture from the public record, it is very very clear the CFTC does not want any prop firms in the US. Some suggest there is a way in, its possible but I severely doubt it. To build a prop firm that might actually fit into the criteria of the CFTC would make that prop firm ineffective from a marketing perspective so the advanced upfront cost vs the non competitive programs likely renders it dead on arrival.

My understanding is that the CFTC also doesn't want MFF to register as an RFED which kind of makes it quite the stalemate.

Canada freeze got extended, apparently people took that is if the case is over and MFF is dead. Ultimately it was just the same freeze with receiver extended and so any expenses or whatever needs to be agreed upon. No change really.

My perspective, MFF won't be back at all. By the time things get sorted the market would have changed so much that its not viable to return. I would suspect some sort of refund mechanism will come in to existing accounts as there was spare cash. It feels to me (instinctively) that the anti US movement for props/meta is going to be the thing that makes settlement easier for this case.

All of this is complete speculation, i do not have inside information on the matters its just my perspective as an overview.
  • #30,048
  • Feb 11, 2024 2:42pm Feb 11, 2024 2:42pm
Quoting Takisd
{quote} There is no update. Presumably there are discussions about settlement. Based on the posture from the public record, it is very very clear the CFTC does not want any prop firms in the US. Some suggest there is a way in, its possible but I severely doubt it. To build a prop firm that might actually fit into the criteria of the CFTC would make that prop firm ineffective from a marketing perspective so the advanced upfront cost vs the non competitive programs likely renders it dead on arrival. My understanding is that the CFTC also doesn't want...
Reality. MFF is dead, make fraud. But...another prop firm still work in USA.
  • #30,049
  • Feb 11, 2024 2:46pm Feb 11, 2024 2:46pm
Quoting Takisd
{quote} No we aren't. The scrutiny from metaquotes has nothing to do with MFF. They had no liability until recently from a different case. As I mentioned before, you tried to highlight this but clearly you don't know metaquotes. Which likely means you are very new to the forex tech world. Until very recently they didn't give 2 fucks about cases that appeared, they merely terminated, complied with subpoenas and wiped their hands of it. Now they have liability (again nothing to do with MFF) and they start taking actions against offshore scams, unregulated...
There are no doubt other issues within the niche and you highlight some of them. Scammy prop firms causing customers to complain directly to brokers and MQ plays a part for sure.

I just think MFF court case is so high profile it plays into the risks MQ are sensitive of i.e. their Russian origins and ownership, and the risk of them being taken out of the app stores once again as well as possible regulator scrutiny in the US.

MQ often have a bit of a 'clean up' every so often. An example being a few years ago them going hard on the white labelling of their platforms.

Ultimately we can only speculate as to cause and effect.
  • #30,050
  • Feb 11, 2024 2:49pm Feb 11, 2024 2:49pm
Quoting PropDude1234
{quote}There are no doubt other issues within the niche and you highlight some of them. Scammy prop firms causing customers to complain directly to brokers and MQ plays a part for sure. I just think MFF court case is so high profile it plays into the risks MQ are sensitive of i.e. their Russian origins and ownership, and the risk of them being taken out of the app stores once again as well as possible regulator scrutiny in the US. MQ often have a bit of a 'clean up' every so often. An example being a few years ago them going hard on the white labelling...
So what are your thoughts about FPFX having profit interest in scam prop firms. How should the CFTC act towards them?
  • #30,051
  • Feb 11, 2024 3:05pm Feb 11, 2024 3:05pm
If Meta can be deemed a facilitator by providing servers and tech, then probably FPFX can as well.
  • #30,052
  • Feb 11, 2024 3:09pm Feb 11, 2024 3:09pm
Fudningpips just sent out an email that they can not take more clients from USA. Same as FTMO....
Drawdown is more important than Account Size !
  • #30,053
  • Feb 11, 2024 3:09pm Feb 11, 2024 3:09pm
Quoting Takisd
{quote} its Expo33 for sure.
That's a lot of blown 10K challenges with 50% coupons.
Pride always comes before destruction.... -Proverbs 16:18
  • #30,054
  • Feb 11, 2024 3:12pm Feb 11, 2024 3:12pm
It would save everybody a lot of headache if the veterans and respected members of this forum just ignored the people with an evident anti fx prop and anti MFF agenda.
  • #30,055
  • Feb 11, 2024 3:18pm Feb 11, 2024 3:18pm
Quoting Takisd
{quote} So what are your thoughts about FPFX having profit interest in scam prop firms. How should the CFTC act towards them?
Quoting Nsak3y
If Meta can be deemed a facilitator by providing servers and tech, then probably FPFX can as well.
I don't know enough about the laws in question.

I expect FPFX are one step removed. Not as far away as the payment providers, but of a similar ilk.
  • #30,056
  • Feb 11, 2024 3:18pm Feb 11, 2024 3:18pm
Quoting Takisd
{quote} So what are your thoughts about FPFX having profit interest in scam prop firms. How should the CFTC act towards them?
MFF is a fraud company, CFTC said. About FPFX now...is OK. Your word is ZERO. CFTC rules.
  • #30,057
  • Feb 11, 2024 3:19pm Feb 11, 2024 3:19pm
Quoting PropDude1234
{quote} {quote}I don't know enough about the laws in question. I expect FPFX are one step removed. Not as far away as the payment providers, but of a similar ilk.
Generally when you have the interest in the result of an operation, you are intimately involved with that company beyond "removed". Especially when you deploy tools to affect the outcome in your favor.
  • #30,058
  • Feb 11, 2024 3:25pm Feb 11, 2024 3:25pm
Guys MFF is history, lets move on .... they were good while they lasted. A few more good prop firms are dropping too. This industry is going down the drain but lets keep our hopes high. I am on sidelines, not buying any more challenges for two more weeks.
Drawdown is more important than Account Size !
  • #30,059
  • Feb 11, 2024 3:32pm Feb 11, 2024 3:32pm
Quoting PropDude1234
I expect FPFX are one step removed. Not as far away as the payment providers, but of a similar ilk.
-They are literally providing the means for these companies to operate, are they not?

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  • #30,060
  • Feb 11, 2024 3:36pm Feb 11, 2024 3:36pm
Quoting Nsak3y
{quote}-They are literally providing the means for these companies to operate, are they not?
So are Visa and Mastercard.

Ultimately that's for them to decide their exposure and risk appetite. I don't know enough about the law to know if they have CTFC exposure.
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