MyForexFunds, which is based in Ontario and started in 2020, had billed itself as a foreign exchange proprietary trading firm. In return for a sign-up fee, most customers made trades with fictitious capital in a simulated market. If they passed an initial evaluation and stuck to a set of trading rules, they could receive a share of their theoretical profits. The higher the sign-up fee, the greater the simulated capital they had to work with.