Prop Trading Platform True Forex Funds Announces Official Closure

After a series of regulatory warnings, license revocations, operational suspensions, and service resumptions, Hungary-based prop trading firm True Forex Funds has announced the permanent closure of its platform.

The True Forex Funds website now prominently displays a notice stating the following:

"Official Closure of True Forex Funds

We regret to inform you that True Forex Funds has ceased all operations and will be closing permanently due to financial insolvency.

Despite extensive efforts to stabilize and improve our financial health, we have been unable to continue our operations.

We sincerely appreciate the dedication and hard work of our employees, the trust our clients have placed in us, and the consistent support from our partners. Your commitment has been the foundation of our endeavors, and for that, we are deeply grateful.

Thank you for your invaluable support and for being an essential part of True Forex Funds."

In early February, True Forex Funds faced the termination of its license by MetaQuotes, the operator of the popular trading platforms MT4/MT5. This forced the firm to suspend its services​, making it one of the first prop trading platforms to be affected by this incident. Later that month, True Forex Funds, along with its counterparts such as Smart Prop Trader and Funded Trader, announced their intention to resume operations by migrating to cTrader.

In April, True Forex Funds also announced the introduction of a new secondary trading platform​, Match-Trader, with the aim of ensuring stable operations and expanding its business in the future.

However, it has now become evident that the company's vision for the future is unattainable.