On Tuesday night, the New Jersey court partially granted My Forex Fund’s request in a lawsuit filed against the company by the CFTC. The court ordered the release and return of most of the assets belonging to the Founder and CEO, Murtuza Kazmi, valued at approximately $100 million, but $12.08 million of these assets will…
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Prop Trading Firm Leveled Up Society Closed – Leaving Traders in Dismay
What Happened to Leveled Up Society According to the Leveled Up Society Closed as per website, Leveled Up Society & Easton Management have both parted ways due to different viewpoints on how to manage the firm amid the innovation in the Prop Firms industry. The Website for Leveled Up Society is currently non-operational. We are…
Deel Stops Payouts to Several Prop Trading Firms – MyFundedFX, and Bespoke Funding; among others
Breaking News – Deel Stops Payouts According to a post on Lewis Kaler’s Twitter the CEO of Bespoke Funding Program; Deel, an HR company that provides payout services to traders through contracts with various prop firms, has suspended payouts. This is because the company is currently under investigation by the CFTC. This is coming after…
Regulator vs MyForexFunds: What does this mean for investors
In our recent breaking news released that MyForexFunds Operations and Assets Frozen by U.S. & Canada Regulators – CFTC & OSC The world of foreign exchange trading has been rocked by the news that regulatory authorities in the United States and Canada have taken decisive action against MyForexFunds, a popular trading platform. In a joint…
MyForexFunds Operations and Assets Frozen by U.S. & Canada Regulators
myForexFunds Assets & Operations Frozen According to the information posted on myForexFunds website, a provincial securities regulator in Canada and the commodities regulator in the United States issued orders preventing myForexFunds from trading securities or accessing funds in their bank accounts. Until these freeze orders are lifted or modified, myForexFunds business is effectively, and at…
Crude oil price above major resistance with US Dollar stable before the CPI – What next?
Crude Oil Price, WTI Futures, US Dollar, USDJPY and CPI Review Crude oil price has surged to levels not witnessed since November of the previous year, even though inventory data reveals a significant increase in stockpiles. As per the report from the American Petroleum Institute (API), storage witnessed an addition of 4.067 million barrels for…
PayPal Launches U.S. Dollar Stablecoin (PYUSD) – Shares Jump by 2.66%
PYUSD, also known as PayPal USD, is backed by U.S. dollars deposit, short-term U.S. treasuries, and other cash equivalents. It can be redeemed for U.S. dollars at a 1:1 ratio Payments giant PayPal (PYPL.O) said on Monday it has launched a U.S. dollar stablecoin (PYUSD), becoming the first major financial technology firm to embrace digital…
Saudi Aramco Reports $30B in Q2 Profits – A 40% Drop From Last Year
Saudi Aramco Q2 Report Breakdown Saudi Aramco, the state-run oil company of Saudi Arabia, announced on Monday that it had made a profit of $30 billion in the second quarter report. However, this was a decline of nearly 40% from the same period last year, which the company attributed to lower oil prices. Aramco’s total…
Gold Price Flat Ahead Of NFP Data – US Dollar, Fitch Downgrade And Treasury Yields In Focus
Gold Price, US Dollar, Fitch Downgrade and Treasury Yield in Focus – NFP Data As we head into the weekend into NFP Data release, gold price seems to be at a pivotal point, with the US Dollar strengthening as Treasury yields rise. The week has been eventful for markets, and we may see more action…
US Jobs Report: Non Farm Payrolls (NFP) Data’s Impact on Gold, US Dollar, and S&P 500 Outlook
JULY NON FARM PAYROLLS REPORT On Friday morning, the U.S. Bureau of Labor Statistics will release its report on July non farm payrolls (NFP). Wall Street surveys predict that U.S. employers hired 200,000 workers last month, following the addition of 209,000 jobs in June. The jobless rate is expected to remain steady at 3.6%, indicating…