Prop trading firm True Forex Funds has closed down.
The company’s website is now blocked and the only page is a statement confirming that the company has closed.
“We regret to inform you that True Forex Funds has ceased all operations and will be closing permanently due to financial insolvency,” said the firm in its statement.
“Despite extensive efforts to stabilize and improve our financial health, we have been unable to continue our operations.”
True Forex Funds platform problems
True Forex Funds had already had to shutter its services in February of this year after MetaQuotes revoked its license.
The firm had relaunched with alternative providers cTrader and Match-Trade Technologies.
However, this appears to have cost the firm, which was likely running on a model based solely on challenge fees anyway, and ultimately led to its shut down.