The Motion for Preliminary Injunction has been continued to September 19th at 10:00 am and a receiver has been named. The Complaint asks that the Court find there was fraud, enter a permanent injunction, restraining order, penalties and restitution. I am watching the docket to see how much has actually been frozen because this litigation will be lengthy and expensive if not settled and in my experience as a federal attorney this will take years with little recoupment in the end for the traders (myself included).
Thanks for your insight as you obvious have much more experience in these matters than me. No matter what happens to Kazmi, I feel justice will not be served unless at least $100MM is clawed back. Hopefully other shady outfits are taking notice. Please keep us updated. Thanks again!
Best of luck. I've gotten a comment from a subscriber who has already gotten a refund. Best of luck and let us know how it goes. Use the links in the video description, your email with support, receipts, etc.
I'm planning to chargeback nearly 50,000 in transactions from MFF on different banking accounts - however these date back to 2021. I read a reddit post where one guy got a chargeback from all the way from January of 2022. I hope the case report should be sufficient evidence. I will let you know how it goes.
Hi Chris. In light of recent events, I think the bank may be more favorable to going back farther in the past - especially as this is a recent development. Please keep us updated and good luck!
Hello, I am asl disputing several transactions from MFF on my bank account, and the earliest one I had was from 2021. I hope they’re a bit lenient and will help with the process, considering we have solid evidence such as the court case docs
Looking forward to September 11 for the MFF court ruling and how you'll disect. Seeing your videos is like seeing a doctor doing surgery. Amazing presentation 👏
I'm attempting a chargeback for my one active challenge. I'm not requesting for failed challenges or passed challenges for which I have received refunds as part of payouts. I know they are accused of fraud but I don’t think that justifies possible fraud on my part. It's your choice how you proceed but I would pause a moment before disputing every charge.
It’s not fraud , if I ask for failed challenges .. if they committed fraud to fail me .. any challenge bought less than 120 days I ll ask for a refund ..
One must remember MFF was the preferred firm over others like FTMO, and that MFF copied all its shady practices from FTMO. So, many YT videos are promoting FTMO without verifying these facts. Free marketing for another scammy prop firm. Hope you will do some research into this as well.
Hi DB. I've chatted with FTMO a few times and they're pretty elusive about which brokers they use or even if they use any liquidity providers. However, I have seen people who copy trade amount 5+ firms and FTMO almost always has the tightest spreads. You're right - no way to know if they actually A book anyone.
@kevincortese7751 thanks. I personally had issues with slippage etc at FTMO and hence I switched to MFF which in my experience was better but maybe it was just their drawdown limits. But yes their (MFF's) systems did freeze a whole lot more than FTMO's. Now I suspect it was to trap traders with large funded accounts.
@@kevincortese7751 traders global had brokerage in CANADA without registration. literally saying 'hey shoot me please. head shot'.... FTMO in czech and doesnt claim brokerage.
Not sure if I'd jump into a US firm just yet. I do like they increase the drawdown 1% with each withdrawal. 8&5% targets with 8&5% fixed drawdown is pretty reasonable.
Very sorry to hear Sara. Hopefully this bad apple doesn't leave a bad taste in your mouth with regard to the entire prop industry. Hopefully a refund will be coming, but still lots of opportunity out there.
I called my bank to start a chargeback and sent them the documents from the emails and CFTC (all 24 pages). They gave me a provisional credit until they make a final decision. So, my fingers are crossed that they will see the obvious.@@yash3010
Is it possible to recover money of challenges that i was failed maybe because his politic? I remember they closed me one account, I claim for it and they reopen my account, but I dont know if others were closed ilegally
It wouldn't hurt to try and now would be the ideal time. You can check out some of the links in the description if the bank needs more info. Please let us know how it goes.
Hi NoGame. Very sorry to hear. I'm afraid all funds are currently frozen. If I had to guess, pending payouts will be prioritized and then any money left over will be refunded to everyone else. Hopefully this is the way it works. I could see this taking more than a year though.
@@kevincortese7751 No matter how long it will take as long as I can get it back I am OK. I will move forward with other firms. I am still staying positive with this industry. Prop firm model is not Ponzi at all. Imagine lottery, same thing getting money from other investors to build the pool and pay the winner with others money. MFF just use their own broker manipulate price and cheat for clients, doing wrong statement on their marketing. Other firms so far still safe.
I agree they are a bad apple and there are many other good firms out there. Congrats on such a big payout - you must be doing something right! I'm putting out another video recommending other firms. Any others you've tried that have been good/bad?
Hi Kevin, I used MFF for more than a year, I was slipped to hell and failed some challenges, but I also received about $20k in total payout, do you think I can request for a refund on the purchased account?
Hi Iron. First of all - congrats on 20k payouts. This is not something most people can say! A subscriber below posted successfully receiving a refund following the steps in this video. I would say to you, it doesn't hurt to try. You may get a refund now or possibly when the govt follows through. Dispute and provide documentation of emails, receipts, the investigation in the links in the description below. Please let us know how it goes.
Did you pay with ACH or debit card from Star One? A subscriber who got a refund said he disputed, provided the emails from company and some of the links I listed.
@@kevincortese7751 This letter is regarding the disputed transaction(s) from (merchant) listed in the claim referenced above. Please provide the following information so we can complete our claim investigation: Please describe the service provided by the merchant. When did you receive their service? Have you contacted the merchant? When and how did you contact the merchant and what was their response? Please forward a copy of your receipt or payment confirmation, documentation showing company has been seized/closed, and any other documentation that will assist with your dispute. Sir what dicoment have to aplod for this?
I'm sorry to hear Christina. In that case, you may have to wait for the government to formally issue seized funds. I can't say how long this will take, but other cases have taken a couple years.
Is there a way to get my money back if I paid with crypto? Do you think I could file a complaint with the CTFT explaining in detail what happened? Would it be of any use?
The CTFT already knows so prob no need to file with them. Crypto transactions cannot be reversed so at this point have to wait for the govt distribution. Sorry.
Crypto is designed not to be able to refunded due to the blockchain. In your case, there is no bank or credit card company that can assist you. I'm sorry, but you may have to wait a year or more to see what the government chooses to do.
I started a charge back claim with my credit card company here in UK but they sent me a letter to provide them with more information such as contact paper with MFF, their Terms and condition, description of the services i suppose to receive etc. I only received two email from MFF one was receipt and the another was log in credentials, I am wondering Does anyone here has their terms and conditions?
Here's an archived version of their TOS, although you probably signed something: web.archive.org/web/20230323181148/myforexfunds.com/tos/ Also use the links about the investigation in the description. Best of luck and please let us know how it goes. One sub wrote he already got a refund.
The investigation is still ongoing. It wouldn't hurt to dispute with your credit/debt card company, using the links in the description as support in addition to your receipt and any communication you had with MFF. Note, if you paid with crypto, there is no reversal possible. Comments have said they were successful and wish you the same.
Hi Shashinkamedis. FTMO was one of my recommended firms along with Blue Guardian in my last video th-cam.com/video/rWn57SdLqto/w-d-xo.html They have a great history and spreads. I think Blue might be a safer option in terms of them being smaller (less of a target) and BG is more transparent about which brokers they use. I couldn't ever get an answer from FTMO is they use liquidity providers or everything is in-house.
When monies are distributed, they may reverse transactions to all countries including India or you may have to apply for it. Will keep an eye on it. Have you tried to dispute the charge with your bank?
It depends how you paid. If you used crypto, nothing you can do at this time. If you used a credit or debit card you should use the links in the description for support and dispute with your bank. Case is still ongoing and you may get something back after the US/CA govt investigation.
Hi WTFH215. Crypto is designed not be be reversed like a chargeback on a credit card. This would leave you with option 1 (govt intervention) and 3 (if you fall under the IRS code). Sorry to hear.
Sorry to hear that. The govt has appointed a receivership to be in charge of the money. A refund when the formal process is settled may be your best option now.
The Motion for Preliminary Injunction has been continued to September 19th at 10:00 am and a receiver has been named. The Complaint asks that the Court find there was fraud, enter a permanent injunction, restraining order, penalties and restitution. I am watching the docket to see how much has actually been frozen because this litigation will be lengthy and expensive if not settled and in my experience as a federal attorney this will take years with little recoupment in the end for the traders (myself included).
Thanks for your insight as you obvious have much more experience in these matters than me. No matter what happens to Kazmi, I feel justice will not be served unless at least $100MM is clawed back. Hopefully other shady outfits are taking notice. Please keep us updated. Thanks again!
Im planning to raise the dispute tomorrow with my bank.
Thanks for this video Kevin hopefully i can get all my money back!
Best of luck. I've gotten a comment from a subscriber who has already gotten a refund. Best of luck and let us know how it goes. Use the links in the video description, your email with support, receipts, etc.
I'm planning to chargeback nearly 50,000 in transactions from MFF on different banking accounts - however these date back to 2021. I read a reddit post where one guy got a chargeback from all the way from January of 2022. I hope the case report should be sufficient evidence. I will let you know how it goes.
Hi Chris. In light of recent events, I think the bank may be more favorable to going back farther in the past - especially as this is a recent development. Please keep us updated and good luck!
Hello, I am asl disputing several transactions from MFF on my bank account, and the earliest one I had was from 2021. I hope they’re a bit lenient and will help with the process, considering we have solid evidence such as the court case docs
Best of luck Manuel. Please let us know what happens.
@@kevincortese7751 thank you so much!
Looking forward to September 11 for the MFF court ruling and how you'll disect. Seeing your videos is like seeing a doctor doing surgery. Amazing presentation 👏
Thanks Phillip and hopefully Sep 11 is marked by something good for once!
I'm attempting a chargeback for my one active challenge. I'm not requesting for failed challenges or passed challenges for which I have received refunds as part of payouts. I know they are accused of fraud but I don’t think that justifies possible fraud on my part. It's your choice how you proceed but I would pause a moment before disputing every charge.
Hi William. I think this is a fair compromise. Best of luck and please let us know what happens!
It’s not fraud , if I ask for failed challenges .. if they committed fraud to fail me .. any challenge bought less than 120 days I ll ask for a refund ..
I can see both sides of the argument. Someone may have failed a challenge because of the environment MFF placed the trader in.
you should ask for refund for all challenges. they committed fraud and worked against you…. that’s part of the lawsuit. open chargeback for ALL!
I agree. Wouldn't hurt to ask.
One must remember MFF was the preferred firm over others like FTMO, and that MFF copied all its shady practices from FTMO. So, many YT videos are promoting FTMO without verifying these facts. Free marketing for another scammy prop firm. Hope you will do some research into this as well.
Hi DB. I've chatted with FTMO a few times and they're pretty elusive about which brokers they use or even if they use any liquidity providers. However, I have seen people who copy trade amount 5+ firms and FTMO almost always has the tightest spreads. You're right - no way to know if they actually A book anyone.
@kevincortese7751 thanks. I personally had issues with slippage etc at FTMO and hence I switched to MFF which in my experience was better but maybe it was just their drawdown limits. But yes their (MFF's) systems did freeze a whole lot more than FTMO's. Now I suspect it was to trap traders with large funded accounts.
@@kevincortese7751 traders global had brokerage in CANADA without registration. literally saying 'hey shoot me please. head shot'.... FTMO in czech and doesnt claim brokerage.
Hi Calvin. I wasn't aware of that detail outside of the prop space, but I can see how that'd be a major finger to the OSC.
bro please can you do a video on e8 funding explaining their rules thanks as they are also based in the USA
Not sure if I'd jump into a US firm just yet. I do like they increase the drawdown 1% with each withdrawal. 8&5% targets with 8&5% fixed drawdown is pretty reasonable.
I was in the middle of a challenge and BOOM, they shut down and my challenge money GONE!
Very sorry to hear Sara. Hopefully this bad apple doesn't leave a bad taste in your mouth with regard to the entire prop industry. Hopefully a refund will be coming, but still lots of opportunity out there.
Already started the process. Thank you so much for this information!
Great to hear Akataa. Please keep us updated if you have success!
How you did it?
I called my bank to start a chargeback and sent them the documents from the emails and CFTC (all 24 pages). They gave me a provisional credit until they make a final decision. So, my fingers are crossed that they will see the obvious.@@yash3010
Have you started the dispute process with your bank?
That's great to hear Akataa. Please give us an update on what happens!
Is it possible to recover money of challenges that i was failed maybe because his politic?
I remember they closed me one account, I claim for it and they reopen my account, but I dont know if others were closed ilegally
It wouldn't hurt to try and now would be the ideal time. You can check out some of the links in the description if the bank needs more info. Please let us know how it goes.
What about pendng payout, I have $20k suppose to withdraw this month.
Hi NoGame. Very sorry to hear. I'm afraid all funds are currently frozen. If I had to guess, pending payouts will be prioritized and then any money left over will be refunded to everyone else. Hopefully this is the way it works. I could see this taking more than a year though.
@@kevincortese7751 No matter how long it will take as long as I can get it back I am OK. I will move forward with other firms. I am still staying positive with this industry. Prop firm model is not Ponzi at all. Imagine lottery, same thing getting money from other investors to build the pool and pay the winner with others money. MFF just use their own broker manipulate price and cheat for clients, doing wrong statement on their marketing. Other firms so far still safe.
I agree they are a bad apple and there are many other good firms out there. Congrats on such a big payout - you must be doing something right! I'm putting out another video recommending other firms. Any others you've tried that have been good/bad?
Hi Kevin, I used MFF for more than a year, I was slipped to hell and failed some challenges, but I also received about $20k in total payout, do you think I can request for a refund on the purchased account?
Hi Iron. First of all - congrats on 20k payouts. This is not something most people can say! A subscriber below posted successfully receiving a refund following the steps in this video. I would say to you, it doesn't hurt to try. You may get a refund now or possibly when the govt follows through. Dispute and provide documentation of emails, receipts, the investigation in the links in the description below. Please let us know how it goes.
Hi
I live in CALIFORNIA and i went to bank but they didn't despite my money
Bank is star one credit union
Did you pay with ACH or debit card from Star One? A subscriber who got a refund said he disputed, provided the emails from company and some of the links I listed.
Debit card sir
Did you start the dispute process with the issuer of the debit card?
@@kevincortese7751 This letter is regarding the disputed transaction(s) from (merchant) listed in the claim referenced above. Please provide the following information so we can complete our claim investigation:
Please describe the service provided by the merchant.
When did you receive their service?
Have you contacted the merchant? When and how did you contact the merchant and what was their response?
Please forward a copy of your receipt or payment confirmation, documentation showing company has been seized/closed, and any other documentation that will assist with your dispute.
Sir what dicoment have to aplod for this?
My bank is refusing to help me saying I’m past the time limit. I sent them all the evidence and they won’t help.
I'm sorry to hear Christina. In that case, you may have to wait for the government to formally issue seized funds. I can't say how long this will take, but other cases have taken a couple years.
Is there a way to get my money back if I paid with crypto?
Do you think I could file a complaint with the CTFT explaining in detail what happened? Would it be of any use?
The CTFT already knows so prob no need to file with them. Crypto transactions cannot be reversed so at this point have to wait for the govt distribution. Sorry.
Thank you very much, so we will have to wait and see if we ever get the money back in our crypto wallets.
They have since appointed a receivership for the funds. Money will be sent electronically most likely, not be to your original crypto wallet.
@@kevincortese7751 What can I do right now, wait?, or is there a way to get my funds now? thanks you so much
Crypto is designed not to be able to refunded due to the blockchain. In your case, there is no bank or credit card company that can assist you. I'm sorry, but you may have to wait a year or more to see what the government chooses to do.
I started a charge back claim with my credit card company here in UK but they sent me a letter to provide them with more information such as contact paper with MFF, their Terms and condition, description of the services i suppose to receive etc. I only received two email from MFF one was receipt and the another was log in credentials, I am wondering Does anyone here has their terms and conditions?
Here's an archived version of their TOS, although you probably signed something:
web.archive.org/web/20230323181148/myforexfunds.com/tos/
Also use the links about the investigation in the description. Best of luck and please let us know how it goes. One sub wrote he already got a refund.
Is it still possible to reclaim my money from MFF?
The investigation is still ongoing. It wouldn't hurt to dispute with your credit/debt card company, using the links in the description as support in addition to your receipt and any communication you had with MFF. Note, if you paid with crypto, there is no reversal possible. Comments have said they were successful and wish you the same.
I am from India please tell me how i get refund from my forex fund
Sorry to hear. Patience will be needed as this will be a long process waiting for the govt processes to take place.
Can we trust FTMO....
Hi Shashinkamedis. FTMO was one of my recommended firms along with Blue Guardian in my last video th-cam.com/video/rWn57SdLqto/w-d-xo.html They have a great history and spreads. I think Blue might be a safer option in terms of them being smaller (less of a target) and BG is more transparent about which brokers they use. I couldn't ever get an answer from FTMO is they use liquidity providers or everything is in-house.
Trust no prop F now call it ftmo, or whatever lets all wait and see the end , that's my humble advised.
You may be right, but are you willing to sit out for a few years and realize it was just a bad firm and not the entire industry? That's also a risk!
Forex is illegal in India how will I get my fees back in mff
When monies are distributed, they may reverse transactions to all countries including India or you may have to apply for it. Will keep an eye on it. Have you tried to dispute the charge with your bank?
@@kevincortese7751Bank won't do anything in this since it is illegal.. And where are you suggesting me to apply?
In that case, prob have to wait and hope you get a partial refund from the US/CA authorities. Looking at least 18 months I say.
I am from Pakistan,how can i get refund from MFF? Please help
It depends how you paid. If you used crypto, nothing you can do at this time. If you used a credit or debit card you should use the links in the description for support and dispute with your bank. Case is still ongoing and you may get something back after the US/CA govt investigation.
@@kevincortese7751Thank u sir for your support,well for one account I used crypto and for other two I used Debit card for payment.
I'd try disputing the debit card one. Crypto, by it's nature, is not reversible.
How to recover in case paid with Crypto
Hi WTFH215. Crypto is designed not be be reversed like a chargeback on a credit card. This would leave you with option 1 (govt intervention) and 3 (if you fall under the IRS code). Sorry to hear.
They know what they did ; that’s why they won’t allow us access to our acc ..
I know what you mean. Hopefully it works out it.
Help me ro take refund from my forex fund
I am from India
India has rules against forex so it will be up to the US and Canadian regulators to distribute funds. I'd expect this to take at least 12 months.
My bank monzo won't refund me
Sorry to hear that. The govt has appointed a receivership to be in charge of the money. A refund when the formal process is settled may be your best option now.
I am from India i do payment from crypto can i get back my money 💰💰
Crypto by design is not reversible. You'll have to wait and see if the US/CA govts are able to refund the traders.