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> Prop Trading Firm True Forex Funds Revives Operations with cTrader Platform
by Tareq Sikder
- The firm is relaunching with the implementation of its own-branded cTrader platform.
- Earlier, it suspended its operations after MetaQuotes had discontinued its MT4 and MT5 services.
True Forex Funds, an online proprietary trading firm basedin Hungary, has announced its return to the trading scene in a recent poston the social media platform X (formerly Twitter). In the announcement, thecompany declared its resurgence with the statement: "True Forex Funds isBACK in the game."
The announcement emphasized the firm's relaunch on thecTrader platform, which they asserted is one of the safest platforms forproprietary trading.
“We are proud to announce that we are relaunching with oneof the safest platforms for prop trading: our own-branded cTrader!”, shared on platformX.
True Forex Funds is BACK in the game. 🎯 We are proud to announce that we are relaunching with one of the safest platforms for prop trading: our own-branded cTrader!🔝We’ve missed you as much as you missed us -now let’s shape the market together again!💸https://t.co/BopfAcAXGh pic.twitter.com/mEwAfog7Ku
— True Forex Funds (@trueforexfunds) February 21, 2024
Regulatory Challenges in Proprietary Trading Sector
Last week, FinanceMagnates reported the abruptcessation of operations by True Forex Funds, a Hungary-based onlineproprietary trading firm, following the alleged termination of its MT4 and MT5licenses by MetaQuotes.
In response to the disruption, True Forex Funds has been preparing for its reopening in the "week of February 19th." The CEO, Richard Nagy, expressed his frustration over the lack of warning and the challengestraders faced due to the service interruption. The firm is reportedly seeking reinstatement of its licensesby MetaQuotes butacknowledges the possibility of migrating trading accounts to a differentbroker if negotiations fail. Traders were advised to prepare for any outcome.
A representative mentioned in an email to Finance Magnatesthat they were working diligently to improve services and ensure a seamlessexperience for traders. True Forex Funds planned to launch its cTrader platformand synchronize all accounts, including MetaTrader.
The challenges in proprietary trading extend beyond TrueForex Funds. Last year, regulatory authorities took action against My ForexFunds and its owner, Murtuza Kazmi, for allegedly misleading retail customers.Additionally, FPFX Technologies terminated its agreement with Funded Engineer,reflecting broader challenges in the sector.
True Forex Funds, an online proprietary trading firm basedin Hungary, has announced its return to the trading scene in a recent poston the social media platform X (formerly Twitter). In the announcement, thecompany declared its resurgence with the statement: "True Forex Funds isBACK in the game."
The announcement emphasized the firm's relaunch on thecTrader platform, which they asserted is one of the safest platforms forproprietary trading.
“We are proud to announce that we are relaunching with oneof the safest platforms for prop trading: our own-branded cTrader!”, shared on platformX.
True Forex Funds is BACK in the game. 🎯 We are proud to announce that we are relaunching with one of the safest platforms for prop trading: our own-branded cTrader!🔝We’ve missed you as much as you missed us -now let’s shape the market together again!💸https://t.co/BopfAcAXGh pic.twitter.com/mEwAfog7Ku
— True Forex Funds (@trueforexfunds) February 21, 2024
Regulatory Challenges in Proprietary Trading Sector
Last week, FinanceMagnates reported the abruptcessation of operations by True Forex Funds, a Hungary-based onlineproprietary trading firm, following the alleged termination of its MT4 and MT5licenses by MetaQuotes.
In response to the disruption, True Forex Funds has been preparing for its reopening in the "week of February 19th." The CEO, Richard Nagy, expressed his frustration over the lack of warning and the challengestraders faced due to the service interruption. The firm is reportedly seeking reinstatement of its licensesby MetaQuotes butacknowledges the possibility of migrating trading accounts to a differentbroker if negotiations fail. Traders were advised to prepare for any outcome.
A representative mentioned in an email to Finance Magnatesthat they were working diligently to improve services and ensure a seamlessexperience for traders. True Forex Funds planned to launch its cTrader platformand synchronize all accounts, including MetaTrader.
The challenges in proprietary trading extend beyond TrueForex Funds. Last year, regulatory authorities took action against My ForexFunds and its owner, Murtuza Kazmi, for allegedly misleading retail customers.Additionally, FPFX Technologies terminated its agreement with Funded Engineer,reflecting broader challenges in the sector.
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About the Author: Tareq Sikder
- 678 Articles
- 4 Followers
About the Author: Tareq Sikder
A Forex technical analyst and writer who has been engaged in financial writing for 12 years.
- 678 Articles
- 4 Followers
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