True Forex Funds, a Budapest-based proprietary trading company, has returned to the trading world in a post on X’s website. The firm said, “True Forex Funds is BACK.” They have decided to relaunch with their own-branded cTrader platform after the challenges they met when MetaQuotes stopped their MT4 and MT5 licenses.
Using Their Own-Branded cTrader for Proprietary Trading
The agency accented its relaunch on the cTrader platform as a safe principal trading environment. “We are excited to relaunch with one of the safest platforms for prop trading: “own-branded cTrader!” posted to platform X.
Present Regulatory Barriers in the Prop Trading Sector
The most recent study of The Finance Line is that the operation of an online proprietary trading firm, True Forex Funds from Hungary, suddenly stopped due to the allegation that MetaQuotes had withdrawn its MT4 and MT5 licenses.
In reaction to the disruption, the company announced that it would reopen next week, which is on February 19th. However, Richard Nagy, the CEO, cited the absence of the warning and the difficulties faced by customers as the significant drawbacks.
The firm is negotiating with MetaQuotes on restoring trading accounts, but it is considering moving them to another broker in case the talks fail. Traders were to brace up for any outcome.
The main point from the representative’s email to The Finance Line was their efforts to upgrade services and improve the traders’ experiences. True Forex Funds is planning to put its cTrader platform online and make MetaTrader accounts sync.
Challenges in the Proprietary Trading IndustryTrue Forex Funds is also facing more challenges in proprietary trading. Last year, the regulator acted against “My Forex Funds” and its owner, Mr. Murtuza Kazmi, for supposedly misleading retail clients. The company also dissolved its existing agreement with Funded Engineer, representing a widespread industry issue.