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Summary of True Forex Funds Trading Company
True Forex Funds, founded in 2021, initially showed promise as a Forex broker offering competitive spreads and high leverage.
However, by mid-2023, numerous negative reviews began to surface. Clients reported issues with withdrawals and the absence of proper licenses. Complaints about manipulations, including artificial slippage and unauthorized trades leading to substantial losses, appeared on various trading forums and social media platforms.
By the end of 2023, multiple governments launched investigations, uncovering fraudulent activities and the misappropriation of client funds. In response, True Forex Funds suspended its operations and announced its closure, citing financial insolvency. According to a statement on its official website, the broker was unable to improve its financial situation, ultimately resulting in its suspension.
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FAQs
Why has prop company True Forex Funds been blacklisted?
Possible reasons:
• The prop company True Forex Funds was found manipulating traders' evaluation stages, such as manipulating spreads, quotes, or forcibly closing trades under false pretexts.
• The website is malfunctioning or offline, and regulators have complaints against the company.
• The company lacks transparency, with complaints from traders.
I saw True Forex Funds in the blacklist. What should I do?
Take this fact into account. Prop trading during the evaluation stage involves trading on a demo account, so your only risk is the fee paid for the evaluation. If you plan to redo the evaluation, consider choosing a different company.
Should I continue working with prop company True Forex Funds if it’s been blacklisted?
If you are already in the evaluation stage, continue to complete it. This is additional experience for you without any significant risk. There’s a chance the prop company could be removed from the blacklist by the time you finish.
How can I file a complaint against a prop company to have them blacklisted?
You can share your review through the form on this page. Alternatively, you can send an email to Traders Union's support service, providing details of your experience with company True Forex Funds along with supporting screenshots. After reviewing your complaint, True Forex Funds may be added to the blacklist.
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