My Forex Funds

What My Forex Funds does

MyForexFunds (legal entity Traders Global Group Inc.) was a Toronto, Canada-based proprietary trading firm founded in 2020 by Murtuza Kazmi. The firm operated simulated funded trading programs serving retail traders across 80+ countries, reaching a cumulative customer base of approximately 135,000 and distributing over US$290 million in trader payouts as of August 2023. Three core products were offered: a two-phase Evaluation Program (standard pathway), a Rapid Program (development-focused for newer traders), and an Accelerated Program (immediate access for experienced traders with stricter risk limits). All trading occurred in simulated environments — traders paid registration fees to enter evaluation phases, met profit and risk-control targets, and were then eligible to manage simulated funded accounts with profit-sharing payouts.

The underlying platform combined a web-based simulated trading interface with proprietary risk management controls designed to detect latency arbitrage, prohibited bot usage, and rule violations. Distribution was entirely self-serve and product-led, supported by a large community presence across Discord, YouTube, Facebook, X/Twitter, Instagram, LinkedIn, an active blog, and a monthly digital magazine. The firm generated revenue from registration fees, with payouts to successful traders funded from that same fee pool rather than from real-market trading profits — a structural feature that became central to the 2023 U.S. Commodity Futures Trading Commission civil complaint alleging fraud.

In August 2023, the CFTC and the Ontario Securities Commission obtained emergency asset freezes, effectively shutting down operations overnight. The U.S. case was dismissed with prejudice in May 2025 after a federal court found the CFTC engaged in willful and bad-faith misconduct, and the CFTC was ordered to pay US$3.1 million in legal fees. Canadian courts similarly unwound the receivership in late 2025, ordered the return of most assets, and awarded legal costs against the OSC in February 2026. As of March 2026, MyForexFunds is not operating any programs or accounts but has publicly committed to honoring outstanding August 2023 payout requests and is reassembling its team and infrastructure to assess future operations.

Name

My Forex Funds

Legal name

Traders Global Group Inc.

Website

https://myforexfunds.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

101–250 employees

Short description

MyForexFunds is a Toronto-based proprietary trading firm that operated simulated funded trading evaluation programs for retail traders globally, serving 135,000 customers across 80+ countries before an August 2023 regulatory shutdown; it is now in recovery following 2025–2026 legal vindication.

Ownership category

akta.pro rank

Product category

Proprietary Trading

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (52316), Commodity Contracts Intermediation (523160)

SIC

Commodity Contracts Brokers & Dealers (6221), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Retail FX/CFD Broker Trading Venues (FSAFADAD)

Keywords

• Proprietary trading programs
• Forex evaluation programs
• Simulated funded accounts
• Trader funding platform
• Prop trading firm

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Registration Fees: Traders paid registration fees to enter evaluation programs. These fees funded program operations, payouts to traders, and infrastructure. Payouts to traders primarily came from these registration fees and were not profits generated from real market trading.
2. Simulated Funded Trading Profit Sharing: Successful traders who passed evaluation received a share of simulated profits generated from simulated trading. The profit-sharing payouts were funded from registration fees collected, not from actual market trading.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels9 records

Core offering

MyForexFunds runs simulated proprietary trading programs in which individual retail traders pay a registration fee to enter structured evaluation phases (standard two-phase, Rapid, or Accelerated). Traders who meet profit and risk-control targets in the simulated environment gain access to a simulated funded account and share in simulated profit payouts funded from registration fees rather than from real market trading activity.

Product overview

MyForexFunds is a proprietary trading firm offering simulated funded trading programs. The product portfolio consists of three evaluation-based trading programs: the Evaluation Program (standard two-phase process), the Rapid Program (development-focused for newer traders), and the Accelerated Program (immediate access for experienced traders). Traders pay registration fees to enter evaluation phases conducted in simulated trading environments, with successful participants eligible to manage simulated funded trading accounts and receive profit shares. At this time, MyForexFunds is not operating or offering any programs or accounts to traders, as the company is focused on recovering systems and data following regulatory actions.

Differentiator

Problem solved

Functional benefit

Products and services

• Evaluation Program Standard two-phase evaluation in which traders meet profit targets and risk-control requirements (daily loss limits, drawdown rules) in a simulated trading environment in order to qualify for a simulated funded trading account and earn profit shares. Targeted at retail traders seeking capital access without risking personal funds.
• Rapid Program Development-focused evaluation pathway for newer traders offering faster feedback cycles and reduced-risk parameters within the simulated trading environment, intended for traders still building skill and consistency.
• Accelerated Program Immediate-access program granting experienced traders simulated funded-account privileges without an evaluation phase, operating under stricter risk limits to accommodate their existing track record.

Quantifiable outcome

• $290 million+ in trader payouts distributed across 80+ countries
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• The5ers: The5ers operates a proprietary trading evaluation program offering simulated funded accounts to retail traders with staged scaling plans — directly comparable model and target market to MyForexFunds' Evaluation Program.
• FTMO: FTMO is the largest and most established retail prop trading firm, offering simulated funded evaluation programs for forex and other instruments — directly comparable business model, target customer (retail traders seeking funded accounts), and product structure to MyForexFunds.
• FundedNext: FundedNext is a fast-growing prop trading firm offering simulated funded evaluation accounts across forex and CFDs to retail traders globally — directly comparable offering, customer base, and product structure to MyForexFunds.
• MyFundedFX: MyFundedFX is a prop trading firm offering simulated funded evaluation accounts to retail forex traders — closely comparable business model, product structure (multi-phase evaluations), and target customer base to MyForexFunds.
• E8 Funding: E8 Funding provides simulated funded forex trading accounts via evaluation challenges targeting retail traders — directly comparable model and customer base, operating in the same prop evaluation category as MyForexFunds.
• True Forex Funds: True Forex Funds operated a near-identical simulated forex evaluation and funded account model — the most direct product peer to MyForexFunds, serving retail traders seeking simulated capital and profit splits.
• Apex Trader Funding: Apex Trader Funding is one of the largest US-based simulated funded futures prop firms with aggressive scaling plans — directly comparable evaluation-funded model, though futures-focused rather than forex.
• Topstep: Topstep pioneered the simulated funded trading evaluation model for futures traders and is widely considered the original category leader — directly comparable business model to MyForexFunds, though focused on futures rather than forex.

Broad incumbents

• OANDA: OANDA is an established retail forex broker offering leveraged FX/CFD trading with strong retail trader brand recognition — broader incumbent player serving overlapping retail FX trader audience, though as a regulated broker rather than evaluation-based prop firm.
• IC Markets: IC Markets is a large global retail FX/CFD broker popular with active and prop-style traders — broader incumbent serving the same retail FX trading audience that MyForexFunds addresses, providing direct brokerage rather than evaluation-based funding.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/funds_forex
• YouTubeyoutube.com/MyForexFunds
• Facebookfacebook.com/myforexfunds
• LinkedInlinkedin.com/company/my-forex-funds
• Instagraminstagram.com/myforexfunds

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about My Forex Funds