MyForexFunds: The Great Return of Murtaza Kazmi and the End of a Legal Nightmare

After more than two years of court-imposed silence, Murtaza Kazmi breaks his silence. Total victory against the CFTC, payout promises, and relaunch plans: everything you need to know.

By TraderScope

After more than two years of radio silence, the Prop Firm world is buzzing

Murtaza Kazmi, the iconic CEO of MyForexFunds (MFF), has finally broken his silence in a comprehensive video update. After more than two years of court-imposed radio silence, this historic announcement is shaking the entire prop trading industry. Between revelations about regulatory tactics and promises of long-awaited payouts, here is everything you need to know.

1. A total legal victory against the CFTC

The most striking point of Kazmi's statement is the outcome of the standoff with the CFTC (Commodity Futures Trading Commission), the U.S. derivatives market regulator.

  • Charges dismissed: All allegations of fraud and manipulation brought against MFF in the United States have been dropped or dismissed by the courts.
  • Regulatory bad faith: The judge severely criticized the CFTC, noting that it acted in "bad faith" to obtain the initial asset freeze back in August 2023.
  • Release of funds: An Ontario court has ordered the return of nearly all the company's assets, marking the end of the strict control held by the receivership.

This is a spectacular reversal. As a reminder, in August 2023 the CFTC froze all MFF accounts, accusing the firm of massive fraud. That decision sent shockwaves through the industry and stripped thousands of traders of their funds overnight.

2. Priority number one: 2023 payouts

This is the news thousands of traders have been waiting for over two years. Kazmi confirmed that MFF is committed to honoring payout requests that were pending and verified just before the firm's suspension in August 2023.

"We never had any intention of not paying. The funds were frozen by force, not by choice." — Murtaza Kazmi

The technical process is currently underway to rebuild the necessary financial infrastructure to process these payments securely and legally. If this promise materializes, it would represent an unprecedented case in the prop firm industry: a firm shut down by a regulator that comes back and repays its traders.

3. The road to relaunch (MFF 2.0?)

While the intent to return to operations is clear, the CEO remains cautious regarding a specific timeline. The challenges ahead are monumental:

  • Data recovery: MFF must regain access to client databases from its former service providers (brokers and trading platforms).
  • Technical audit: A full systems review is required to ensure the platform meets updated compliance standards after two years of inactivity.
  • Infrastructure: The firm must rebuild its banking partnerships in a climate where financial institutions have become increasingly wary of the Prop Firm sector.

Rebuilding MFF will not happen overnight. Two years of inactivity means technology, partnerships, and internal processes all need to be completely reviewed and brought up to speed.

4. A heartbreaking human impact

Beyond the numbers and legal battles, Murtaza Kazmi shared the brutal reality of the "blackout" period he endured:

  • Frozen personal accounts, making even everyday payments impossible
  • Unable to provide for his family for many months
  • A one-sided media battle where he was legally barred from defending himself publicly

This video also serves as a message of resilience for an industry deeply transformed by this case. The MFF saga accelerated discussions about regulation and pushed many prop firms to strengthen their transparency.

What this means for traders

The return of MyForexFunds is more than just the comeback of a market player — it is a major legal precedent. Here are the concrete implications:

  • Regulators are not all-powerful: This case proves that regulators cannot act arbitrarily without consequences. The courts ruled in favor of MFF, which could deter similar actions in the future.
  • Hope for fund recovery: For traders who had pending payouts, this represents the hope of recovering profits that many thought were lost forever.
  • A signal for the industry: If MFF manages to come back and repay its traders, it will strengthen the credibility of the entire prop firm sector.

Stay vigilant and informed

Despite these encouraging announcements, we recommend staying cautious. Promises still need to materialize, and the road to a full reopening will be long and challenging. Here is our advice:

  1. Wait for official communications: MFF is expected to communicate through official channels and via email regarding refund procedures in the coming weeks. Only trust official sources.
  2. Beware of scams: Fraudsters may try to exploit the situation by impersonating MFF. Do not click on suspicious links and never share your personal information.
  3. Document your claims: If you had a pending payout at MFF, gather all your evidence (screenshots, confirmation emails, trading history).

Looking for a reliable prop firm in the meantime?

If you want to continue trading with a trusted prop firm while MFF rebuilds, here are our recommendations:

  • FTMO — The benchmark since 2015, with over $100 million paid to traders.
  • The5ers — Instant funding and an excellent payout track record.
  • FundedNext — Profit split up to 95% and strong growth.
  • Topstep — Futures specialist since 2012.

Conclusion

The MyForexFunds saga will remain one of the most significant episodes in prop trading history. After two years of legal nightmare, Murtaza Kazmi's victory against the CFTC is a turning point. But the most important part is yet to come: the actual delivery on payout promises and, potentially, the return of one of the most popular prop firms in history.

We will be following this story closely and keeping you informed of every development. In the meantime, continue trading with reliable, proven firms — and above all, never put all your eggs in one basket.

← Back to blog