The website of My Forex Funds, one of the most known Forex Prop Trading firms in the world, was closed today (01 September 2023) at 23:30 GMT. In a very short time, questions began to be asked in twitter and trading groups whether my forex funds went bankrupt or was my forex funds closed.
Immediately after the outage, visitors to my forex fund site encountered an article like the one below;
Yesterday we learned that, without prior notice or discussion, a provincial securities regulator in Canada and the commodities regulator in the United States issued orders preventing us from trading securities or accessing funds in our bank accounts.
Until these freeze orders are lifted or modified, our business is effectively, and at least temporarily, frozen as well.
We will be reaching out to the regulators to discuss their concerns, and the first court date to determine whether the freeze orders should be lifted or modified is currently scheduled for September 11 in the US, with another hearing later that same week in Canada.
We hope to have this matter resolved as soon as possible and will update this message as events occur.
After an announcement on Discord servers, it seems that all channels have been closed. Judging by the incoming messages, traders cannot access their trading accounts, withdraw funds and receive support.
Bespoke Funding offers up to: $400,000 funds to financially empower global traders and help them earn full-time.
No Maximum Trading Days, No Style Restrictions, Receive 80% of profits, No Scaling plan required
Drawdown Blocker, Freedom to scale up to a 20% drawdown, 1 Step Challenge Option, Monthly Salary, Monthly 1-on-1 coaching, Funded Engineering has great features that no other company has.
As a crisis communication specialist, it is a huge mistake for brands to cut off communication with their stakeholders in times of crisis. A communication strategy that can turn this crisis into an opportunity will both relieve its customers and cause the company to emerge stronger from the crisis.
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