MyForexFunds Profit Split: The Terms, and Whether It Got Paid

Adrian Caldwell Founder & Head Trader, ITAfx

What MyForexFunds' profit split actually was

The up-to-85% headline and where it appeared

The advertised number was a split of up to 85 percent (Finance Magnates, retrieved 2026-07-31). "Up to" is doing work in that sentence. It describes a ceiling, not the split most accounts sat at, and it is the standard way this industry prices the thing traders shop on hardest.

The three simulated programs the firm listed

MyForexFunds' own site says it offered three simulated programs: a standard two-phase Evaluation Program, a Rapid Program for developing traders, and an Accelerated Program for experienced traders (MyForexFunds, retrieved 2026-07-31). Note the word the firm itself uses: simulated. That is not a later reframing by a critic. It is on the firm's own about page.

If the difference between a simulated environment and a live-market account is fuzzy for you, that distinction decides everything in the section below on counterparties. If you are still working through the fundamentals, what is a prop firm challenge covers the evaluation structure this vocabulary describes.

Program fees from $49 to $4,900

MyForexFunds' program fees ranged from $49 to $4,900 (Finance Magnates, retrieved 2026-07-31). Put the two numbers side by side and you have the actual trade: a fee that is certain, paid up front, against a split that is conditional on passing, on staying inside the rules, and on the firm still being able to send money when you ask.

Did the split actually get paid? The documented record

This is the first thing a trader wants to know, so here it is without decoration.

The firm's own figure: US$290M+ by August 2023

MyForexFunds states on its own site that, as of August 2023 and over roughly two and a half years, it had paid out more than US$290 million to traders across 80-plus countries (MyForexFunds, retrieved 2026-07-31). Read that as what it is: a self-reported figure, published by the firm about itself, not audited or independently confirmed by any third party in the record we can check. It is evidence that money moved. It is not proof of how much, to whom, or how reliably.

August 2023: the charge, and payouts stopping

In August 2023 the CFTC charged Traders Global Group Inc., trading as My Forex Funds, and its founder Murtuza Kazmi, alleging fraud exceeding $300 million from retail customers in simulated trading (The Industry Spread, retrieved 2026-07-31). Assets were frozen. Traders with pending payout requests did not get paid on the schedule they had been promised, and the firm today states on its own site that it is not operating or offering any programs or accounts to traders (MyForexFunds, retrieved 2026-07-31).

The mechanism matters more than the accusation. A trader who had earned an 85 percent split in July 2023 held a claim on a company whose bank access had been removed by a court order. The percentage was intact. The payment was not.

April 2026: emails to traders with pending payouts

As of 6 April 2026, MyForexFunds had begun emailing traders who had a requested payout at the time of the 2023 closure, and had not yet made specific statements about restarting operations (FX News Group, retrieved 2026-07-31). CEO Murtuza Kazmi said anyone who had requested a payout prior to the freeze should be expecting communications from the firm shortly (Finance Magnates, retrieved 2026-07-31). That is the firm's own claim about its own intentions, and it is the correct way to read it.

So the honest answer to "did the split get paid" has three parts. Before August 2023, by the firm's own account, a lot of it did (MyForexFunds, retrieved 2026-07-31). Between the freeze and 2026, the record shows communications restarting, not completion (FX News Group, retrieved 2026-07-31). That gap is roughly two and a half years long, and no split percentage on any marketing page anywhere accounts for it.

Why the case matters even though it was dismissed

What the CFTC alleged

The CFTC said MyForexFunds generated at least $310 million in fees from a customer base of more than 135,000 who signed up since November 2021 (Finance Magnates, retrieved 2026-07-31). It also alleged that Traders Global acted as counterparty to substantially all customer trades and used manipulative software to execute orders at the worst possible prices (Finance Magnates, retrieved 2026-07-31). That was an allegation. It was never proven.

May 2025: dismissed with prejudice, and sanctions against the regulator

The case, CFTC v. Traders Global Group, Inc., No. 1:23-cv-11808 (D.N.J.), was dismissed with prejudice on 13 May 2025 (The Industry Spread, retrieved 2026-07-31). The court imposed Rule 11 sanctions of more than $3 million in attorneys' fees and costs on the CFTC (The Industry Spread, retrieved 2026-07-31).

The findings behind that are unusually blunt. Special Master Jose L. Linares found the CFTC took deliberate steps toward obfuscation and avoidance despite knowing of an error in a sworn declaration submitted to the court (Finance Magnates, retrieved 2026-07-31). The court found the CFTC filed a declaration alleging CAD$31.5 million was transferred to an unidentified Kazmi account when the transfers were in fact payments to Canadian tax authorities (Willkie Compliance Concourse, retrieved 2026-07-31). Kazmi framed the firm's later apology as being not for wrongdoing but for what traders were put through, positioning the dismissal as vindication rather than an admission (Finance Magnates, retrieved 2026-07-31).

What the record leaves standing

Here is the takeaway, and it is not a verdict on MyForexFunds. The regulator that brought the case came out of it sanctioned more than $3 million and dismissed with prejudice (The Industry Spread, retrieved 2026-07-31). And traders with pending payouts still waited years (FX News Group, retrieved 2026-07-31). The action alone stopped the money, whatever the merits turned out to be. When you assess a firm, "will this firm be found guilty" is the wrong question. "What happens to my pending payout if this firm has to stop operating for two years" is the right one.

Counterparty risk: the question behind the split percentage

Who sits on the other side

The regulatory concern in this matter was whether customers traded a simulated or demo account against the firm's own risk engine rather than live markets, with the firm acting as counterparty (The Industry Spread, retrieved 2026-07-31). Plain definition: a counterparty is whoever is on the other side of your trade. If it is the firm, your winning trade is the firm's cost, and your split is paid out of the firm's revenue rather than out of a market gain. For the distinction between the two account types in plain terms, see difference between demo and funded trading account.

Say the obvious part out loud. This is how the simulated-evaluation model generally works, and ITAfx works this way too: ITA provides simulated trading evaluation services, all trading in evaluation environments is conducted in simulated accounts, and challenge fees pay for access to those environments rather than being investments or deposits (itafx.com/llms.txt, retrieved 2026-07-31).

Why that decides whether a split is a payout or a cost line

Once you accept that payouts come out of firm revenue, the split percentage stops being the interesting number. Solvency, cadence, and continuity become the interesting numbers, because those decide whether the percentage is ever applied to anything. A 120 percent split from a firm that cannot send money is worth less than a 50 percent split from one that can.

For completeness on our own side: ITAfx publishes a profit split of up to 120 percent, and the mechanism is that the amounts above 100 percent are promotional tiers where the firm adds a bonus on top of the simulated profit share, meaning the extra portion comes from ITAfx marketing spend rather than from the simulated profit itself (itafx.com/llms.txt, retrieved 2026-07-31). ITAfx also states payouts are typically processed within 24 hours and offers a 150 percent fee refund on eligible challenges (itafx.com/llms.txt, retrieved 2026-07-31). Run the five checks below on that too. That is the point of publishing them. See also funded account profit withdrawal process for how a withdrawal request actually moves once a split is owed.

How to verify a profit split before you pay the evaluation fee

Five checks. Each one is a document you can read or a question you can send in writing before you pay anything.

1. Written split terms. Find the split, the tier that applies to your account size, and the conditions in the terms document, not the landing page. If the only place the number appears is a headline with "up to" in front of it, you have found marketing, not terms.
2. Payout cadence and method. How often can you request, how long is processing, which rails, and what fees come off. Get the number and the unit. "Fast" is not a number.
3. Counterparty disclosure. Does the firm say plainly whether accounts are simulated and who is on the other side of your fills? The MyForexFunds matter turned in part on exactly this question (The Industry Spread, retrieved 2026-07-31). A firm that says it clearly, as MyForexFunds itself did on its programs page, is easier to assess than one that leaves it ambiguous (MyForexFunds, retrieved 2026-07-31).
4. Regulator and court record. Search the firm's legal entity name, not its brand name. MyForexFunds traded as MyForexFunds; the entity in the docket was Traders Global Group Inc. (The Industry Spread, retrieved 2026-07-31). One name gets you reviews, the other gets you filings.
5. Pending-payout policy if operations stop. The check almost nobody runs, and the one this case is about. Ask in writing what happens to an approved but unpaid payout if the firm suspends operations. A firm that has never thought about it will tell you so by not answering.

What a non-answer means: it means the answer is not written down anywhere, and an answer that is not written down cannot be enforced later. Treat silence on check 5 the way you would treat a missing drawdown rule. For a structured walkthrough of this exact due-diligence process, see how to know if a prop firm pays.

MyForexFunds profit-split timeline at a glance

Adrian Caldwell

Adrian Caldwell is the founder and head trader at ITAfx (Institutional Trading Academy). He writes on prop-firm trading, funded-account strategy, technical analysis and trading psychology.