Despite facing a lawsuit from the Commodity Futures Trading Commission (CFTC), the platform is also encountering severe backlash in Canada, where the Ontario Securities Commission (OSC) has brought similar charges against it.

My Forex Funds, a private prop trading platform, has exclusively provided its first official response to the lawsuit filed against it by the US Commodity Futures Trading Commission. The company has described the allegations as presenting “grossly inaccurate and incomplete picture of the facts.”

“To be clear, My Forex Funds has never defrauded traders, and we look forward to presenting the truth in court. We regret the hardship that this ill-conceived lawsuit has caused our traders and our staff,” as stated by My Forex Funds in their announcement.

Despite facing a lawsuit from the Commodity Futures Trading Commission (CFTC), the platform is also encountering severe backlash in Canada, where the Ontario Securities Commission (OSC) has brought similar charges against it.

My Forex Funds highlighted that the lawsuit from the CFTC came “without warning and under seal”. The two companies behind the prop trading platform are determined to fight the regulators in court.

According to the comment, for the lawsuit filed against the CFTC, the company has enlisted Alex Spiro, Rob Zink, Michael Shahin, and Dakota Sipes from Quinn Emanuel Urquhart & Sullivan, LLP, for legal defense. In Canada as well, the platform has collaborated with a legal advisor.