True Forex Funds, an online proprietary trading firm based
in Hungary, has announced its return to the trading scene through a recent post
on the social media platform X (formerly Twitter). In the announcement, the
company declared its resurgence with the statement, “True Forex Funds is
BACK in the game.”
The announcement also emphasized the firm’s relaunch on the
cTrader platform, which they assert is one of the safest platforms for
proprietary trading.
“We are proud to announce that we are relaunching with one
of the safest platforms for prop trading: our own-branded cTrader!”, shared on platform
X.
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, Finance
Magnates reported the abrupt
cessation of operations by True Forex Funds, a Hungary-based online
proprietary trading firm, following the alleged termination of its MT4 and MT5
licenses by MetaQuotes.
In response to the disruption, True Forex Funds was
preparing for its reopening in the “week of February 19th.” CEO
Richard Nagy expressed frustration over the lack of warning and the challenges
traders faced due to the service interruption.
The firm is reportedly seeking reinstatement of its licenses
by MetaQuotes but
acknowledges the possibility of migrating trading accounts to a different
broker if negotiations fail. Traders were advised to prepare for any outcome.
A representative mentioned in an email to Finance Magnates
that they were working diligently to improve services and ensure a seamless
experience for traders. True Forex Funds planned to launch its cTrader platform
and synchronize all accounts, including MetaTrader.
The challenges in proprietary trading extend beyond True
Forex Funds. Last year, regulatory authorities took action against My Forex
Funds 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 based
in Hungary, has announced its return to the trading scene through a recent post
on the social media platform X (formerly Twitter). In the announcement, the
company declared its resurgence with the statement, “True Forex Funds is
BACK in the game.”
The announcement also emphasized the firm’s relaunch on the
cTrader platform, which they assert is one of the safest platforms for
proprietary trading.
“We are proud to announce that we are relaunching with one
of the safest platforms for prop trading: our own-branded cTrader!”, shared on platform
X.
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, Finance
Magnates reported the abrupt
cessation of operations by True Forex Funds, a Hungary-based online
proprietary trading firm, following the alleged termination of its MT4 and MT5
licenses by MetaQuotes.
In response to the disruption, True Forex Funds was
preparing for its reopening in the “week of February 19th.” CEO
Richard Nagy expressed frustration over the lack of warning and the challenges
traders faced due to the service interruption.
The firm is reportedly seeking reinstatement of its licenses
by MetaQuotes but
acknowledges the possibility of migrating trading accounts to a different
broker if negotiations fail. Traders were advised to prepare for any outcome.
A representative mentioned in an email to Finance Magnates
that they were working diligently to improve services and ensure a seamless
experience for traders. True Forex Funds planned to launch its cTrader platform
and synchronize all accounts, including MetaTrader.
The challenges in proprietary trading extend beyond True
Forex Funds. Last year, regulatory authorities took action against My Forex
Funds 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.
