You are not understanding the funding evaluator business model. It's explained clearly in my posts earlier. There's also a video posted a few pages ago that goes through it. The majority of these evaluation companies put funded traders into live sim. Very few end up in cash accounts for the prop firms. As far as CFTC are concerned, funded traders in live sim is conducting off-exchange retail commodity transactions and violation of regulations. The information is all in this thread, disclosed on the evaluator websites and also documented in the CFTC complaint. It "just" requires some reading and understanding. You were saying earlier that the hearing dates (which are simply preliminary hearings) were being extended at the government's request and a sign that they have a weak case. In fact, reviewing the case documents: The Commodity Futures Trading Commission (“CFTC”), by and through its counsel, and Defendants Traders Global Group Inc., a New Jersey corporation; Traders Global Group Inc., a Canadian business organization; and Murtuza Kazmi (hereinafter “Defendants”), by and through their counsel, hereby stipulate and jointly move the Court to extend the Statutory Restraining Order (Dkt. 13) further to expire on October 13, 2023 and to continue the preliminary injunction hearing until October 11, 2023, at 11:00 a.m. Eastern Time. You've already said that you don't like reading legalese. Facts are important in these matters. Reading helps. The mdfinancialskills site you linked to is an affiliate for a few forex prop firms and brokers. They have a vested interest in this sector continuing. The analysis in their article is incorrect compared to facts. They don't have a clear understanding of the evaluator business model. I've been funded and taken withdrawals from futures evaluators. I've also been an affiliate. Since details of this case has emerged, I've taken action to get the proceeds of my funded accounts and am no longer promoting any new evaluator deals to my community. YMMV.
'As far as CFTC are concerned, funded traders in live sim is conducting off-exchange retail commodity transactions and violation of regulations'. Why don't you send this statement to the CFTC and get a yes or no answer from them. I just don't think it's correct. The event CFTC versus MFF was sudden so i was a bit of a panicky confused but as i follow this and has time to look into things I am not worried. MFF is in forex and has some specific problems which are not the representative of the whole future funding firms. I'll wait to see and just focus on doing my trading by the end of next week i should hit the threshold for withdrawal on one account. Enjoy your weekend.
well that’s what they are asserting as a violation so the trial outcome will provide the yes or no answer
All of these types of challenge "funding firms" should be viewed as stepping stones only--not a long term continuous solution for trading for profit/income. If you happen to pass and get funded and are consistently profitable and receiving payouts in a live account then you should just switch to trading your own capital and not continue to pay 10% to 20% to them as in most cases these firms only provide a starting cushion (drawdown) and they expect you to leave funds in the account once you pass a certain profit threshold to continue to have a drawdown (funds to trade with) and if you withdraw all profit to zero after passing that threshold then they close your account as they do not provide revolving funding after that threshold is met so essentially (with the vast majority of these firms) after passing that threshold amount they set in the fine print you are trading only with your profits you leave in the account and paying them a %
The CFTC has no brain on their 3 ladies/attorneys. See here: https://www.financemagnates.com/for...racterized-its-tax-payments-to-freeze-assets/