MyForexFunds, which closed down two years ago after attracting the attention of the US Commodities and Futures Trading Commission (CFTC), has officially announced it plans to make a comeback.
In a post on X, the Canada-based prop firm revealed the Ontario Supreme Court had approved the return of its assets, allowing it to restart its business operations.
It said: “The Ontario Superior Court has approved the Canadian Asset Handover Order. We are in the process of regaining full control over our assets, data, and systems.
“The phase of reassembling the MyForexFunds team can now begin. With the right people back in place, a comprehensive analysis and operational review will follow, bringing us one step closer to the next chapter for MyForexFunds and our global trading community.”
MyForexFunds was one of the first retail prop firms to come to market in the early 2020s.
However, in 2023 the business was taken to court by the Commodities and Futures Trading Commission (CFTC) in the US for fraud.
The case collapsed because it came out that CFTC employees had made a number of errors during the trial and investigation.
One interesting revelation from the trial was that the company made over $300m in challenge sales during the roughly two year period in which it operated.
