The firm’s CEO, Richard Nagy, has emphasized the commitment to restoring normal operations.
The company mentioned MetaQuote's decision to terminate TFF's licenses as the reason behind the disruption.
True Forex Funds
The prop trading firm True
Forex Funds experienced a disruption after claiming that MetaQuotes, the operator of MT4 and
MT5, terminated the licenses for its trading platform. This resulted in a temporary
cessation of its services.
This development represents the second instance in
recent months where a notable name in the proprietary trading sector for
foreign exchange and contract for difference has faced disruption. It follows the shutdown of Canada's My Forex Funds by US
and Canadian regulators last September.
True Forex Funds' CEO Pledges Resolution
In response to the disruption, True Forex Funds'
CEO, Richard Nagy, expressed the team's commitment to finding a solution and
continuing to serve its traders. Currently, the firm is persuading MetaQuotes
to reconsider its decision while plans are being explored, including the
potential migration of trading accounts to alternative brokers.
Source: True Forex Funds
Despite the setback, True Forex Funds has reassured
its traders that it will resume operations. The firm has urged traders to
stay informed and prepare for potential developments, including the settlement
of remaining payouts and the possibility of account migration.
Finance Magnates has contacted MetaQuotes and True Forex Funds for comments about the development, and this story will be updated as soon as we receive their feedback. Notably, True Forex Funds was flagged by the Commodity Futures Trading Commission last year.
The Proprietary Trading Paradigm
According to a recent post by Finance Magnates,
proprietary trading firms operate on a fundamentally different model from Trader Funded Firms. They
engage in active trading activities, leveraging their resources and expertise
to capitalize on market opportunities. Besides that, the firms use quantitative
strategies, act as market makers or liquidity providers, and are subject to
regulatory oversight.
The misconception arises when trader funding
programs are erroneously equated with proprietary trading firms. While both may
share certain characteristics, such as evaluation processes and access to
capital, the underlying business models and operational dynamics differ.
Last year, a US court partially granted the CEO of My Forex
Funds' (Murtuza Kazmi) request, releasing approximately $100 million of his
assets while retaining $12 million. This decision followed the submission of "first
impression evidence" by the Commodity Futures Trading Commission against My Forex Funds, indicating deceptive practices within the company,
Finance Magnates reported.
Additionally, the court discharged the temporary
receiver earlier appointed, expressing confidence in the defendants' legal
representation and compliance with court orders.
The prop trading firm True
Forex Funds experienced a disruption after claiming that MetaQuotes, the operator of MT4 and
MT5, terminated the licenses for its trading platform. This resulted in a temporary
cessation of its services.
This development represents the second instance in
recent months where a notable name in the proprietary trading sector for
foreign exchange and contract for difference has faced disruption. It follows the shutdown of Canada's My Forex Funds by US
and Canadian regulators last September.
True Forex Funds' CEO Pledges Resolution
In response to the disruption, True Forex Funds'
CEO, Richard Nagy, expressed the team's commitment to finding a solution and
continuing to serve its traders. Currently, the firm is persuading MetaQuotes
to reconsider its decision while plans are being explored, including the
potential migration of trading accounts to alternative brokers.
Source: True Forex Funds
Despite the setback, True Forex Funds has reassured
its traders that it will resume operations. The firm has urged traders to
stay informed and prepare for potential developments, including the settlement
of remaining payouts and the possibility of account migration.
Finance Magnates has contacted MetaQuotes and True Forex Funds for comments about the development, and this story will be updated as soon as we receive their feedback. Notably, True Forex Funds was flagged by the Commodity Futures Trading Commission last year.
The Proprietary Trading Paradigm
According to a recent post by Finance Magnates,
proprietary trading firms operate on a fundamentally different model from Trader Funded Firms. They
engage in active trading activities, leveraging their resources and expertise
to capitalize on market opportunities. Besides that, the firms use quantitative
strategies, act as market makers or liquidity providers, and are subject to
regulatory oversight.
The misconception arises when trader funding
programs are erroneously equated with proprietary trading firms. While both may
share certain characteristics, such as evaluation processes and access to
capital, the underlying business models and operational dynamics differ.
Last year, a US court partially granted the CEO of My Forex
Funds' (Murtuza Kazmi) request, releasing approximately $100 million of his
assets while retaining $12 million. This decision followed the submission of "first
impression evidence" by the Commodity Futures Trading Commission against My Forex Funds, indicating deceptive practices within the company,
Finance Magnates reported.
Additionally, the court discharged the temporary
receiver earlier appointed, expressing confidence in the defendants' legal
representation and compliance with court orders.
Jared Kirui is an Editor at Finance Magnates with more than five years of experience in financial journalism. He covers online trading, fintech, payments, and crypto industries with a focus on companies, regulation and compliance, executive moves, trading technology, and market analysis.
His work has been featured in other media outlets, including Benzinga, ZyCrypto, The Distributed, and The Daily Hodl.
Education:
Bachelor of Commerce degree (Finance option), University of Nairobi
Former Airsoft CEO Faces Trial in Germany for Offering Tech to Forex Frauds
Finance Magnates Awards 2026 – Nominations Now Open
Finance Magnates Awards 2026 – Nominations Now Open
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Exness sees trust as the key theme for growth in MENA Trading Growth for 2026
Exness sees trust as the key theme for growth in MENA Trading Growth for 2026
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026
Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026
At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges.
Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges.
Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
Altima CTO Sunil Jadhav: Solving Data Fragmentation & Lag for Brokers & Prop Firms
Altima CTO Sunil Jadhav: Solving Data Fragmentation & Lag for Brokers & Prop Firms
Altima CTO Sunil Jadhav sits down with Finance Magnates to discuss the core technology challenges facing CFD brokers and proprietary trading firms today.
Jadhav explains how the industry's reliance on batch processing and fragmented systems (where CRMs, risk tools, and trading platforms operate with separate 'sources of truth') leads to delayed data and inconsistent operational decisions. He argues that real-time event processing is essential for managing fast-moving trading activity and risk.
Learn how Altima's unified, event-driven architecture, connecting Altima CRM, Altima Prop, IB systems, and risk management through a single backbone, is designed to provide synchronous data and better operational coordination for modern brokerage and prop firm stacks.
Key Topics:
- Broker and Prop Firm Data Challenges
- The problem of delayed data processing (batch processing vs. real-time events)
- Fragmented systems and conflicting data sources
- Altima's unified, event-driven solution architecture
- The concept of a "risk-aware CRM"
- Built-in risk management in Altima Prop
#Altima #financemagnates #iFXDubai #FinTech #BrokerTech #PropFirm #CFDBroker #TradingTechnology #RealTimeData #RiskManagement #CRM #FinancialMarkets #EventDrivenArchitecture
Altima CTO Sunil Jadhav sits down with Finance Magnates to discuss the core technology challenges facing CFD brokers and proprietary trading firms today.
Jadhav explains how the industry's reliance on batch processing and fragmented systems (where CRMs, risk tools, and trading platforms operate with separate 'sources of truth') leads to delayed data and inconsistent operational decisions. He argues that real-time event processing is essential for managing fast-moving trading activity and risk.
Learn how Altima's unified, event-driven architecture, connecting Altima CRM, Altima Prop, IB systems, and risk management through a single backbone, is designed to provide synchronous data and better operational coordination for modern brokerage and prop firm stacks.
Key Topics:
- Broker and Prop Firm Data Challenges
- The problem of delayed data processing (batch processing vs. real-time events)
- Fragmented systems and conflicting data sources
- Altima's unified, event-driven solution architecture
- The concept of a "risk-aware CRM"
- Built-in risk management in Altima Prop
#Altima #financemagnates #iFXDubai #FinTech #BrokerTech #PropFirm #CFDBroker #TradingTechnology #RealTimeData #RiskManagement #CRM #FinancialMarkets #EventDrivenArchitecture
