Following our exclusive report from early February that retail trading product firm True Forex Funds had ceased operations, becoming one of the first victims of a crackdown on support firms by MT4/MT5 trading platform developer MetaQuotes, the firm has now informed its customers and the public that it is closing permanently.
On its website, True Forex Funds now displays the following notice:
Official closing of True Forex Funds
We regret to inform you that True Forex Funds has ceased all operations and will be permanently closed due to financial insolvency.
Despite extensive efforts to stabilize and improve our financial health, we have not been able to continue our operations.
We sincerely appreciate the dedication and hard work of our employees, the trust shown in us by our customers and the constant support from our partners. Your commitment has been the foundation of our efforts, and for that we are deeply grateful.
Thank you for your invaluable support and for being an essential part of True Forex Funds.
True Forex Funds initially ceased operations, as noted above, after MetaQuotes terminated its trading platform licenses. True Forex Funds was in the US The CFTC RED List since last June, to solicit and/or accept funds from US customers. The CFTC’s RED (Registration Incomplete) List contains names of foreign (ie non-US) entities that appear to be acting in a capacity that requires registration with the CFTC, but are not registered with the CFTC.
The propaganda company made several attempts to restart operations, but apparently they never took off.