JOURNAL ARTICLE

Simulated Trading Firm Accused of Fraud Clears Hurdle to Restart.

  • Published In: Bloomberg.com, 2025. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Atkins, Alice; Shin, Melissa 3 of 3

Abstract

The article discusses a Canadian court's decision to unfreeze most assets of MyForexFunds, a simulated trading firm previously accused of fraud. The Ontario Superior Court's ruling allows the company, legally known as Traders Global Group Inc., to access client data and funds that had been under the control of a receiver since August 2023, following a lawsuit by the U.S. Commodity Futures Trading Commission (CFTC) that alleged the firm operated a Ponzi-like scheme. Although the CFTC's case was dismissed, the Ontario Securities Commission continues to investigate the firm for potential regulatory violations. MyForexFunds plans to clarify its business model on its website to ensure customers understand that they are trading with fictitious capital. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2025/12, pN.PAG
  • Document Type:Article
  • Subject Area:Law
  • Publication Date:2025
  • Accession Number:189881483
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