MyForexFunds – a popular proprietary trading company – seems to be showing signs of returning after a long absence. In its latest post on the X platform on Monday, the company said it would soon announce important information, while urging the trading community to wait patiently.
MyForexFunds ready to return after Legal battle with CFTC
MyForexFunds was one of the pioneers of the strong growth wave of the Prop Firm market in 2021-2023. However, this growth was interrupted when the company was involved in a lawsuit initiated by the US Commodity Futures Trading Commission (CFTC), with allegations related to fraudulent behavior.
However, due to errors in the CFTC’s legal process, the court decided to dismiss the entire case. At the same time, the judge ordered the agency to pay MyForexFunds’ legal fees incurred after the lengthy litigation.
On LinkedIn, MyForexFunds also posted a suggestive message: “It’s been a long time, a lot has happened. We will share our story soon. Please be patient, we really miss you.”
After the CFTC Lawsuit: MyForexFunds faces fines and staffing Issues
In December 2024, court documents exposed serious shortcomings in the Commodity Futures Trading Commission’s (CFTC) handling of the case.
Ashley Burden, the CFTC’s lead attorney, admitted to “carelessness and negligence” in the investigation. The biggest mistake revealed was the misrepresentation of a legitimate tax claim worth 31.5 million Canadian dollars as embezzlement. This mistake led directly to an improper asset freeze. The mistake exposed shortcomings in the case’s handling process and was seen as a rare failure for the CFTC.
In May 2025, the Commodity Futures Trading Commission (CFTC) suspended four attorneys and one investigator. The move comes after an internal review concluded the individuals had committed serious misconduct. The suspensions were based on potential ethical and professional violations, primarily related to submitting false information during the trial. It is a step toward clarifying and addressing the lapses that have left the agency facing a rare legal defeat.
The CFTC’s fraud case against Traders Global Group Inc. (parent company of MyForexFunds) has been dismissed with prejudice by a US federal judge. The definitive ruling was based on recommendations by Special Expert Jose L. Linares, who highlighted numerous serious procedural errors and misleading conduct by CFTC staff. Notably, the regulator was also ordered to pay the defendant company’s entire legal costs.
The ruling not only imposes financial costs on the CFTC, but also serves as a stark reminder of the importance of following due process. At the same time, it demonstrates that procedural errors in investigations can have serious consequences, affecting both the companies being investigated and the law enforcement agencies themselves.
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