MyForexFunds was the largest prop firm in the world before the CFTC shut it down overnight in August 2023, freezing every account and locking out more than 120,000 traders. Two and a half years later, the regulator that killed it has been sanctioned by a federal court, and MFF is now paying out the trader money it was accused of stealing in the first place.
What Actually Happened
The CFTC’s 2023 case accused MyForexFunds of running a fraud, pointing to a CAD $31.5 million transfer out of the company as evidence traders’ money was being siphoned off. That transfer turned out to be a legitimate tax payment to the Canada Revenue Agency, and court filings show the CFTC had documentation confirming this at least 11 days before it filed the case anyway.
A federal judge dismissed the case with prejudice in May 2025, meaning the CFTC can’t refile the same claims. A court-appointed Special Master found the agency had made multiple false statements in sworn declarations, and the court sanctioned the CFTC roughly $3.1 million and awarded MyForexFunds its attorney’s fees. Several CFTC staff were placed on administrative leave over the handling of the case.
The Comeback Timeline
- May 2025: US case dismissed with prejudice, CFTC sanctioned
- August-December 2025: Ontario court scales back the Canadian receivership and orders business assets returned
- January-February 2026: MFF regains access to its own data and systems, begins reviewing accounts
- March 2026: Support channels reopen, direct communication with traders resumes
- April 2026: MFF begins emailing traders who had pending, approved payout requests from before the 2023 shutdown
MFF has publicly committed that every trader with a valid, verified payout request from August 2023 is eligible to receive their funds. The firm hasn’t relaunched as an active platform accepting new challenges yet, it’s still working through a full operational and technical review before reopening, and it hasn’t committed to a specific relaunch date.
Why This Matters
This is a genuinely unusual outcome in an industry where the regulatory story almost always runs the other direction, firms getting shut down, not regulators getting sanctioned for how they did it. If you’re one of the 120,000+ traders who had money locked up when MFF went dark in 2023, the practical takeaway is simple: check the email address you had registered with MFF, and if you haven’t heard from them, keep an eye on official channels rather than third-party influencer accounts claiming inside knowledge.
For the wider industry, this is worth remembering the next time a firm gets accused of something dramatic. Allegations aren’t findings, and in this specific case, the regulator’s evidence didn’t hold up at all. Worth keeping in mind if you’re following Apex’s ongoing federal lawsuits right now, an active case in court is not the same thing as a proven claim, in either direction.
Our Take
Winning a dismissal with sanctions against the CFTC is about as strong a vindication as a firm can get in this space, and MFF is right to call it that. It doesn’t mean every complaint ever made against MFF pre-2023 was baseless, the court ruling addressed this specific fraud case and its evidence, not every operational decision the firm ever made. If you’re a former MFF trader waiting on a payout, the timeline here has been slow but genuinely moving forward, not stalled. Watch official MFF channels directly rather than secondhand claims about when payouts or a relaunch will happen.
Sources: PR Newswire (MyForexFunds official statement); court filings on the CFTC dismissal and sanctions. Verified 13 September 2026.
