Comment Text:
To Whom It May Concern,
I am writing to you as Joaqim Khesser, a forex trader hailing from Nairobi, Kenya, with over 4.5 years of trading experience. Prior to my career in trading, I worked as a data analyst until unfortunate layoffs occurred due to the financial challenges stemming from the recession and other related factors. During my time as an analyst, I earned a modest income of $110 per month.
In my pursuit of a new avenue for financial growth, I came across My Forex Funds (MFF) and decided to invest my savings by participating in their trading challenges. Initially, I faced setbacks, failing to pass the first two challenges. However, through perseverance and learning from my experiences, I eventually succeeded in "phase one" and eagerly awaited "phase two."
To my surprise, I recently learned from MFF's website that the CFTC has frozen their funds, temporarily suspending their operations. I came across allegations against the CEO of My Forex Funds (MFF) suggesting the misappropriation of funds from aspiring traders, directing them to profitable traders, and manipulating trading tools to the detriment of traders. Additionally, there are concerns about the unauthorized status of Traders Global.
The CFTC announced a hearing scheduled for September 9, 2023, to reconsider and potentially adjust these policies. However, I have since discovered that the hearing date was rescheduled to October 31, 2023.
I invested $49 in purchasing my account for the MFF Challenge, and I heavily rely on this opportunity to shape my future. In Kenya, a developing nation where the majority of individuals earn between $35 and $130 per month, I work as a freelancer and aspire to become a successful trader. I have a family to support, and they depend on me as the primary breadwinner.
I implore you to consider the far-reaching implications of your actions. Shutting down MFF without ensuring traders can recover their investments would be devastating, especially for individuals like me who do not have insurance to reimburse us for the costs associated with the MFF Challenge. In the United States, a short absence from work can lead to homelessness, and the situation is no less dire in Kenya.
I urge you to weigh the consequences of your decisions carefully. Holding the prop firm accountable to repay traders before closure or implementing effective regulations would be a fair approach. Please consider the impact on the millions of people who rely on opportunities like MFF for their financial aspirations.
Ultimately, I respectfully request that you take the necessary actions to safeguard the interests of traders (critical stakeholders) like me while ensuring a fair and just resolution to this situation. I sincerely hope that you can find a solution that protects both traders and the integrity of the forex trading industry.
Thank you for your attention to this matter.
Sincerely,
Joaqim Khesser
Nairobi, Kenya
