Traders across the globe were locked out of their accounts today as My Forex Funds paused trading. It comes as Canadian and US regulators froze the business accounts. Here is the current statement from My Forex Funds:
Yesterday we learned that, without prior notice or discussion, a provincial securities regulator in Canada and the commodities regulator in the United States issued orders preventing us from trading securities or accessing funds in our bank accounts.
Until these freeze orders are lifted or modified, our business is effectively, and at least temporarily, frozen as well.
We will be reaching out to the regulators to discuss their concerns, and the first court date to determine whether the freeze orders should be lifted or modified is currently scheduled for September 11 in the US, with another hearing later that same week in Canada.
We hope to have this matter resolved as soon as possible and will update this message as events occur.
Thank you for your patience.My Forex Funds
We do not know what will happen to current profits, challenges or accounts. We will continue to monitor the situation and update accordingly.
What Prop Firms Are Safe?
Since we don’t have any information from the regulators, we currently reccomond one of these non-US based firms: