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MyForexFunds (Closed)

Caution
Canada (now shut down) · Founded 2020 · ★ 1.0 / 5 · Last reviewed September 8, 2026 · Trustpilot read September 22, 2026

Specifications

Profit split—
Max funding—
Challenge fee—
Payout track recordRefund process to former customers continues
Payout cycle—
Sources[1][2][3]
Websitehttps://myforexfunds.com/

Trustpilot: No rating (16,420 reviews) — the profile closed along with the company and no rating is displayed (checked 2026-09-22)

Strengths

    Watch-outs

    • Shut down in August 2023 by Canadian (OSC) and US (CFTC) regulators
    • Was one of the largest prop firms in the industry at the time
    • Quintessential example of prop firm shutdown risk

    Payout claim vs verification

    VerificationStale — firm not operating
    ClaimedNo figure publishedNo payout figure published. The domain now serves a legal-recovery timeline, last dated 2026-03-17.
    Independently checkableNothing checkable
    RailNot establishedThe archetypal frozen record — but the reason it froze is not what is usually reported. The CFTC’s fraud case against parent Traders Global Group was dismissed with prejudice on 2025-05-13 by Judge Edward S. Kiel, following Special Master Jose L. Linares’ finding that the agency had misled the court, and the CFTC was ordered to pay the company’s costs. The firm’s Trustpilot profile no longer publishes a score at all: re-read on 2026-09-22, the page carries only a notice that reviews can no longer be left because the company’s website has closed, and no TrustScore is rendered anywhere on it — so the 4.8 from 16,440 reviews this row previously cited was withdrawn, not frozen, and even the review count is still falling (16,420 on 2026-09-22, down from 16,440 on 2026-07-31). Smart Prop Trader, also closed, still displays 4.3 from 2,507 reviews, so this is not simply what Trustpilot does to every closed firm. Its site refers to "an announcement for traders who had payout requests in progress at the time of the shutdown" without stating amounts. Nothing about payouts made or outstanding is independently checkable.
    SourceMyForexFunds — current site (legal recovery timeline, no payout figure)Finance Magnates — My Forex Funds parent defeats CFTC in court as judge imposes sanctionsChecked: 2026-08-05

    See every firm in the Payout Verification Tracker →

    MyForexFunds (now closed)

    MyForexFunds was a Canada-based proprietary trading firm founded in 2020. At its peak, it was briefly one of the largest prop firms in the industry — by some estimates, the single largest by user volume. In August 2023, that ended abruptly when the Ontario Securities Commission (OSC) and the US Commodity Futures Trading Commission (CFTC) issued enforcement actions, effectively shutting down operations.

    The collapse is the defining case study in prop-firm shutdown risk. Customers who held active accounts at the time lost access overnight, and the refund process for evaluation fees has been working through regulatory channels rather than the company itself.

    Why this entry exists

    We list MyForexFunds as an industry lesson, not as an active option. The case directly contradicts the comfortable assumption that “big means safe” — at the time of the shutdown, MyForexFunds had vastly more users than most of today’s top firms, and that volume did not protect customers when regulators intervened.

    By contrast, the firms that have continued operating through this period — FTMO, Topstep, Audacity Capital, The5%ers — share two traits MyForexFunds lacked: a multi-year operating record before the 2020–2022 boom, and a clearer regulatory positioning around the simulated-trading model.

    What to watch

    • Refund status: check OSC and CFTC official sources for the latest on the refund process to former customers.
    • Industry signal: the case is the strongest available argument for picking firms with longer operating histories and clearer regulatory positioning, even at higher cost.
    • Jurisdiction matters: the regulatory action came from the firm’s home jurisdiction (Canada) plus a major market (US). Where a prop firm is domiciled is not a trivia question.

    Our take

    MyForexFunds is the cleanest available example of why operating history and regulatory positioning matter more than headline economics. For traders deciding between firms today, the practical lesson is to weight long-cycle reliability and jurisdictional clarity above marginal differences in fees or profit split. Cheap evaluation fees are no substitute for an operator that can still be reached in 18 months.

    Partnered firms you can weigh against MyForexFunds (Closed)

    We have no affiliate relationship with MyForexFunds (Closed). These are firms in the same category that we do partner with. Our assessment of MyForexFunds (Closed) is everything above on this page — the presence or absence of a commercial relationship does not change it.

    FTMO

    Running continuously since 2015, the longest record in its class, and rated High trust by this site. FX and CFD; the 2-Step evaluation fee is refunded in full with your first reward.

    FTMO 公式で詳細を見る

    We earn affiliate commission from the firms above. Commission does not affect our ratings.