U.S. judge finds misleading CFTC statements; Ontario court scales back receivership and directs return of most remaining assets
TORONTO, Oct. 14, 2025 - More than two years after MyForexFunds was shut down following proceedings brought by the U.S. Commodity Futures Trading Commission (CFTC), the company has taken initial steps to rebuild communications with its global community after favorable court rulings in the U.S. and Ontario.
In May 2025, a U.S. federal judge found that the CFTC included misleading statements in its filings, dismissed the CFTC's case and awarded MyForexFunds attorney's fees.
"We have always maintained our innocence, and this decision is a complete vindication for MyForexFunds in the United States," said Murtuza Kazmi, CEO of MyForexFunds. "To our tremendous community, thank you for standing with us. Your belief in MyForexFunds was a great source of strength during this tumultuous time."
Following the U.S. ruling, an Ontario court over the past month issued an endorsement that significantly scaled back the receivership and retained only a limited portion of funds in escrow. The court directed the return of the remaining business assets to MyForexFunds.
Before the forced shutdown, MyForexFunds grew from an Ontario, Canada start-up to the world's largest proprietary trading firm, serving traders in more than 80 countries and supported by a global team of 150 staff members.
Throughout its growth, MyForexFunds maintained a strong record of customer satisfaction, showcasing Canadian fintech innovation on the global stage.
MyForexFunds is in the process of unwinding the receivership and conducting a full financial and operational review with counsel and advisors. The company will make further material announcements after this review is complete.
CEO Murtuza Kazmi released his first public statement about the matter this week. Read the full statement here.
About MyForexFunds
MyForexFunds (MFF), founded in 2020 and headquartered in Vaughan, Ontario, Canada, is a proprietary trading firm that provides capital and infrastructure for retail traders worldwide. The company partners with traders in over 80 countries.
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