The prop firm world has been shaken by the unexpected halting of My Forex Funds operations. This firm has grown to become the largest online prop firm with traders from all over the world. For those who have been affected, many firms are offering some heavy discounts so you don’t have to stop trading.
I will include any relevant information regarding regulations or other comments of the situation. Additionally, I will include where the company is based, for those looking to be extra cautious.
If you haven’t read about My Forex Funds closure yet click here.
The Funded Trader (US-Based)
Angelo, the CEO has been active in the discord channel since the news broke and has stated that it is business as normal and they expect no issues. A further video explaining more about the situation will be released on 2nd September. Until then, he has put out this short, lighthearted message:
If you have fear you will die. Only the courageous will survive. The gods are with us! @everyone
The Funded Trader Discord
Promo Code: TFTLABORDAY
Affiliate Code: CNACQK
Perks: 15% Off + 90% Lifetime Payouts + 125% Refund
MyFundedFX (US-Based)
Over at MyFundedFX, MattL has expressed a similar sentiment with no issues expected. Here is his statement:
I am aware of what is happening at myforexfunds and I can’t comment on their specific circumstances but I will say this.
We work with legal representatives very connected in the industry whom have not mentioned anything in regards to regulation of any kind for the time being.
We continue to operate as we always have and encourage everyone to trade as that always have been. Their issues I am confident will be resolved in a timely manner and MyFundedFX is not going anywhere.
My Funded FX Discord
Promotion 1 – LABOR20
Promo Code: LABOR20
Affiliate Code: PTC
Perks: 20% Off all accounts
Expires: 4th September
Promotion 2 – AUTUMN
Promo Code: AUTUMN
Affiliate Code: PTC
Perks: 8% Off, 125% Refund + 90% First Profit Split
Expires: 30th September
FundedNext (Based in UAE)
FundedNext seems perfectly positioned to pick up a lot of traders as being based in Asia, they are as far as possible from US regulators. This will undoubtedly put some nervous traders’ minds at rest. Here is what they had to say:
Dear Traders!
Recent events at a prominent firm have had a profound impact on the prop firm industry, with regulatory scrutiny being issued in both Canada and the United States.
However, FundedNext is not affected by these changes because we are incorporated in the United Arab Emirates. The laws in this country allow us to offer our services to traders all around the world and focus on delivering high-quality trading opportunities without unwanted regulatory hurdles.
As traders are searching for a more reliable place to trade, we’re already seeing a huge increase in new traders joining FundedNext.And a lot of traders have been asking us to extend our last offer.
FundedNext Email Communication
So we listened and we’re bringing an amazing brand new offer!
Promotion 1 – GALAXY10
Promo Code: LABOR20
Perks: 10% Off + 150% refund (Valid on accounts $50k+)
Expires: 10th September
Promotion 2 – GALAXY20
Promo Code: AUTUMN
Perks: 20% Off + 150% Refund (Valid on accounts up to $25k)
Expires: 10th September
Ryze Funding (Based in the United Kingdom)
The team over at Ryze have expressed they do not foresee any regulatory issues arising and have continued with the launch of their latest promotion.
Promo Code: BIDPRICE
InstantFunding.IO (Based in the United Kingdom)
This is the latest firm we have partnered with and we expect great things from these guys. They also expect no issues with the following statement released:
Concerns regarding MFF have no impact on [instantfunding.io’s] operations. We’ve spoken to the right people, and will continuing business as normal.
Instant Funding Discord
Promo Code: INSTANT10
Blue Guardian Capital (Based in the United Kingdom)
Another UK-based firm which has expressed they expect zero issues regarding regulations. The CEO, Sean Bainton, also put his views across in a statement he made on Twitter/X:
I doubt the MFF situation is anything too serious to worry about.
I do not think its even prop firm related more on the fact that they run their own servers and basically have their own broker. We all know how strict Canada is when it comes financial companies as we have seen in the past.
Lets see what happens in the coming weeks…
Sean Bainton, X
Promo Code: CEO10K
