trueforexfunds.com – Funding Forex Traders (2024)

FAQs

What happened to TrueForexfunds? ›

True Forex Funds Has Permanently Shut Down Due to Financial Insolvency. Prop trading firm “True Forex Funds” had ceased all operations as of May 13. It really seems like there's a new prop firm shutting down every other week! From the outside it looks like complete chaos.

We checked and True Forex Funds is not regulated by a top-tier regulator, so you are better off avoiding it. We don't recommend opening an account at True Forex Funds.

Which broker does True Forex Funds use? True Forex Funds does not use common broker brands for its trading. Instead, they partner with a tier-1 liquidity provider that provides institutional data feeds and direct market access execution on their corporate accounts.

Prop Trading Firm True Forex Funds Revives Operations with cTrader Platform. The firm is relaunching with the implementation of its own-branded cTrader platform.

True Forex Funds has ended its operations and announced plans to permanently close due to financial insolvency. According to a statement on the proprietary trading platform's official website, the firm was unable to improve its financial situation, leading to the discontinuation of its services.

True Forex Funds claims traders from 110+ countries and does not list restrictions. It also notes that traders from restricted countries per AML sanctions, like Iran, Syria, and North Korea, are welcome but face due diligence.

Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. But for the average retail trader, rather than being an easy road to riches, forex trading can be a rocky highway to enormous losses and potential penury.

True Forex Funds is committed to delivering instant payments by Advcash as soon as they are processed on their side. The firm guarantees that clients will receive their payouts within 24 hours. It is also important to note that the delivery time for bank transfers does not depend on TFF.

Speedy Processing: Our withdrawal request processing is efficient, with funds typically reflecting in your account within 1-3 business days.

What broker do millionaires use? ›

Large financial firms, including Goldman Sachs and Morgan Stanley, offer prime brokerages. The minimum amount a client must have to use a prime broker is $500,000, though it's not uncommon for clients to have $50 million in assets.

With a $10,000 account, a good day might bring in a five percent gain, which is $500. However, day traders also need to consider fixed costs such as commissions charged by brokers. These commissions can eat into profits, and day traders need to earn enough to overcome these fees [2].

The freeze orders were imposed without any prior notice or discussion. This leaves My Forex Funds in a risky position. Currently, they are unable to conduct its regular business operations. This development casts a shadow over the firm's future prospects and has raised concerns within the global financial community.

Why was My Forex Funds shut down? The CFTC closed MFF's accounts due to their allegation that MFF was defrauding its clients by actively trying to prevent them from becoming funded traders, while promising the opposite.

In conclusion, MyFundedFx is a reputable and reliable prop trading firm that offers competitive funding, advanced trading tools, and exceptional support. Its unique approach to prop trading and transparent evaluation process make it an attractive option for traders of all levels.