Forexfunds.live: Als verdächtig gekennzeichnet – Analysen, Bewertungen und Beschwerden (2024)

FAQs

What's going to happen to my forex funds? ›

What Happens To Traders Who Have Money on My Forex Funds? They are unlikely to get any of their money back. Trading on the platform has since ceased, and assets have been frozen. Investors who were affected by the MFF scandal should contact a lawyer to discuss their legal options.

In March 2024, The Funded Trader (TFT) ceased trading and cancelled their agreements with all traders in their books. This comes as a giant shock to traders and industry spectators, as TFT was considered one of the largest firms with a loyal trader fan base.

My Forex Funds, a well-known prop trading firm, experienced an abrupt shutdown due to freeze orders issued by Canadian provincial securities regulators and U.S. commodities regulators.

Why was My Forex Funds shut down? The CFTC closed MFF's accounts due to their allegation that MFF was defrauding its clients by actively trying to prevent them from becoming funded traders, while promising the opposite.

According to various studies and reports, between 70% to 90% of retail traders lose money every quarter. However, it is important to note that Forex trading is a high-risk, high-reward activity. It is not a get-rich-quick scheme, and it takes time, effort, and discipline to become a successful Forex trader.

On a funded account, losing a large amount of money does not mean much. Even if it results in losing your funded account, you can still try to pass the evaluation at the same firm again or just join another one. Ultimately, you do not risk much and do not lose much.

Frequently Asked Questions about Forex Market Hours

The forex market technically never closes, but retail traders can only trade the hours between Sunday at 5:00 pm ET and Friday at 5:00 pm ET.

While there may be occasional disruptions or periods of heightened volatility, such as during major economic events or geopolitical crises, the forex market is expected to continue operating for the foreseeable future.

Several trading firms and platforms offer free funded trading challenges that allow traders to demonstrate their trading skills and potentially qualify for funded forex accounts. These challenges typically involve trading simulated or live accounts with virtual funds provided by the platform.

Lack of a Trading Plan

One of the most common mistakes new forex trading make is not having a trading plan. A trading plan is a written set of rules that outlines a trader's entry and exit points, risk management strategies, and other important details.

Why do so many people fail at forex? ›

Inadequate Risk Management: A common reason for failure is not managing risk effectively. This includes investing too much capital in one position, not setting stop-loss limits, or failing to diversify. Poor risk management can lead to substantial losses, especially in volatile markets.

Many traders enter trades without adequately considering the potential risks involved. They may trade with too much leverage, risking a significant portion of their account on a single trade. This lack of risk management can quickly lead to substantial losses and ultimately wipe out their trading capital.

Because forex trading does not fit within the SEC's regulatory framework, it's not allowed in the US. Forex trading can be complex when it comes to taxation. In the US, forex traders must report their profits and losses on their tax returns, which can be challenging to calculate.

So, while many regulations are set to prevent it, market makers manipulate forex through various means to increase their profitability. Market makers employ several strategies to achieve their goals through market manipulation.

Unexpectedly, My Forex Funds, a renowned proprietary trading firm, experienced an abrupt cessation of its operations.

Yes, My Forex Funds is a legit company. Here are the contacts to reach them: Email: support@myforexfunds.com. Address: 9131 Keele Street, Vaughan, Ontario, ON, L4K 2N, Canada.

The forex market technically never closes, but retail traders can only trade the hours between Sunday at 5:00 pm ET and Friday at 5:00 pm ET.

Contact Your Broker: Start by reaching out to your Forex broker's customer support. They will provide you with guidance on the specific steps you need to follow to request a refund. Ensure you have your account information, including your trading account number, readily available.