MyForexFunds Moves to Honour Outstanding 2023 Payouts later than Court Victories
MyForexFunds (MFF) has announced that traders with outstanding payout requests dating back to August 2023 will be eligible to receive their funds, marking a major step forward for the proprietary trading firm following the conclusion of a prolonged legal battle and the return of most of its seized assets.
The announcement represents the first concrete commitment from the company since it was forced offline in 2023 amid enforcement action by the U.S. Commodity Futures Trading Commission (CFTC). While MyForexFunds has stopped short of providing a definitive timeline or payment mechanism, the firm says it is now actively rebuilding the infrastructure required to process verified claims.
“If you had a valid and verified payout request in August 2023, we are committed to ensuring those , CEO of MyForexFunds. “The most significant part of our story isn’t just about winning in court; it’s about doing right by our traders.”
Legal vindication clears path for asset recovery
The company’s renewed engagement with its trader base follows a series of legal developments that have reshaped the outlook for MyForexFunds later than more than two years of uncertainty.
Earlier this year, a U.S. federal court judge dismissed all allegations brought by the CFTC against MyForexFunds. The ruling went beyond dismissal, sanctioning the regulator and awarding attorney’s fees to the company — an unusual outcome in firms.
In a parallel development north of the border, an Ontario court order issued in December resulted in the return of the vast majority of MyForexFunds’ assets. The combined effect of the U.S. and Canadian rulings has effectively removed the legal barriers that previously prevented the firm from accessing funds, systems, and operational partners.
Takeaway
Why payouts are not immediate
Despite the favourable court outcomes, MyForexFunds cautioned that payments will not resume instantly. The firm says it is still navigating a comprehensive review of its financial, operational, and technical systems before it can commit to a final distribution framework.
The shutdown in 2023 effectively froze access to internal systems, payment rails, and third-party service providers. According to the company, rebuilding those connections — particularly with payment partners capable of handling large-scale international distributions — is a prerequisite for resuming payouts.
“We are moving as quick as the process allows to rebuild the partners needed to handle these payments securely,” Kazmi said. “We are working diligently to restore a commitment that was unfairly interrupted.”
Takeaway
The scale of MyForexFunds before the shutdown
Before being forced offline, MyForexFunds had grown from a small Ontario-based begin-up into what it described as the world’s largest proprietary trading firm. Founded in 2020 and headquartered in Vaughan, Ontario, the company supported traders in more than 80 countries.
At its peak, MFF reported total payouts exceeding US$290 million, positioning the firm as a major player in the rapidly expanding prop-trading sector. Its business model provided traders with access to simulated capital, allowing participants to earn performance-based payouts without risking their own funds.
Throughout its growth phase, the company positioned itself as a Canadian fintech success story, emphasizing customer satisfaction, rapid scaling, and global reach. The abrupt shutdown in 2023 brought that trajectory to a halt and left thousands of traders with unanswered questions.
Takeaway
Breaking the silence later than two years
Following more than two years of limited public communication, Kazmi is now addressing the firm’s absence directly. In a newly released , the CEO outlines why MyForexFunds was forced offline “overnight,” what the legal process meant for the company’s ability to speak publicly, and how those constraints shaped its prolonged silence.
According to Kazmi, legal restrictions during the dispute prevented the firm from providing updates, even as speculation spread across social media and trading forums. The video also addresses the firm’s efforts to regain access to internal data, rebuild its team, and re-establish verified communication channels.
The company says these steps are necessary to ensure that any future updates — particularly those relating to payouts — are accurate, verifiable, and compliant with court-ordered processes.
Takeaway
FAQ and next steps for traders
Alongside the payout announcement, MyForexFunds has published a comprehensive on its website addressing the most common questions raised throughout the legal dispute. The document outlines eligibility criteria, verification expectations, and the firm’s updates as systems come back online.
While the company has not yet detailed how claims will be processed or in what order, it says a more specific update on process and timelines will be provided once internal reviews are complete.
MyForexFunds is urging traders, media, and other stakeholders to rely exclusively on official company channels for information, warning that unofficial claims circulating online may be inaccurate or outdated.
Takeaway
A defining test for prop trading credibility
The outcome of the MyForexFunds saga is likely to resonate beyond the company itself. The case has become a reference point in debates over regulatory oversight, prop-trading business models, and the treatment of under derivatives law.
With courts siding decisively with the firm and assets returning, attention has shifted to whether MyForexFunds can successfully execute on its commitments and restore trust with a global trader base that has waited more than two years for clarity.
For now, the company’s pledge to honour outstanding 2023 payouts represents a critical step — one that will be closely watched by traders, regulators, and competitors alike.
