True Forex Funds Announces Plans to Relaunch Next Week (2024)

FAQs

True Forex Funds Announces Plans to Relaunch Next Week? ›

Beleaguered Prop Trading Firm True Forex Funds Announces Plans to Relaunch Next Week. The company plans to launch its cTrader platform and integrate users' accounts. True Forex Funds is actively seeking the reinstatement of its license by MetaQuotes.

True Forex Funds has ended its operations and announced plans to permanently close due to financial insolvency. According to a statement on the proprietary trading platform's official website, the firm was unable to improve its financial situation, leading to the discontinuation of its services.

30-Day Inactivity Rule: To maintain the activity of your account, you must log-in and execute at least a single trade of a minimum of 0.01 lot within every 30-day period. This applies to all accounts. Please be aware that if an account does not place a trade for over 30 days, it will be deemed inactive.

With a $10,000 account, a good day might bring in a five percent gain, which is $500. However, day traders also need to consider fixed costs such as commissions charged by brokers. These commissions can eat into profits, and day traders need to earn enough to overcome these fees [2].

Using leverage in the foreign exchange market may result in losses that exceed a trader's initial investment. The differential between currency values due to interest rate risk can cause forex prices to change dramatically.

George Soros, often referred to as the «Man Who Broke the Bank of England», is an iconic figure in the world of forex trading. His net worth, estimated at around $8 billion, reflects not only his financial success but also his enduring influence on global markets.

The weekly rule system is a trend-following trading system. One example of the system is the four-week rule (4WR). Traders will buy when prices reach a new four-week high or sell when prices reach a new four-week low. The weekly rule trading system was established by Richard Donchian.

On a funded account, losing a large amount of money does not mean much. Even if it results in losing your funded account, you can still try to pass the evaluation at the same firm again or just join another one. Ultimately, you do not risk much and do not lose much.

The Truth About Making a Living Trading Forex

While it is possible to generate significant profits, it requires hard work, discipline, and continuous learning. Many successful traders spend years honing their skills and strategies before achieving consistent profitability.

Is True Forex Funds Legit and Safe? True Forex Funds, founded in 2021, belongs to the newer prop trading firms, but that does not mean they are out to defraud traders. On the contrary, they have amassed a 4.7 out of 5.0 rating on Trustpilot based on 2,237 reviews.

What platform do true forex funds use? ›

The announcement emphasized the firm's relaunch on the cTrader platform, which they asserted is one of the safest platforms for proprietary trading. Dedicated Forex cloud solutions with stable and fast cross-border connections capable of high-demand scenarios.

Trading halts are put in place when a market has moved too far, too fast – they are time dependent. Up/down limits have a much larger tolerance as they're based upon the price movement of the whole trading session, without short-term considerations.

Most traders consider a complete ban on retail FX a highly improbable event in the next few years. It is likely that a lot more regulation will be applied to the field, but it is also likely that we all still be able to buy and sell a few lots to earn our share of profit.

Which broker does True Forex Funds use? True Forex Funds does not use common broker brands for its trading. Instead, they partner with a tier-1 liquidity provider that provides institutional data feeds and direct market access execution on their corporate accounts.