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
True Forex Funds recently ceased operations following the alleged termination of
its MT4 and MT5 licenses by MetaQuotes. Despite this setback, the Hungary-based online proprietary
trading firm has announced plans to
restart its operations next week.
True Forex Funds Navigates Disruptions
In response to the disruption of services, True Forex Funds has announced its intention to resume operation in the "week of February 19th."
Richard Nagy, the CEO of the company, recently expressed frustration over the lack of
warning and the challenge related to trading services on the platform.
Source: Discord
True Forex Funds is reportedly seeking the reinstatement of its licenses by MetaQuotes. However, Nagy has acknowledged the
possibility of migrating trading accounts to a different broker if negotiations
fail. The firm has advised traders to prepare for any outcome.
Preparing for Reopening
In an email sent to Finance Magnates, a
representative from True Forex Funds mentioned: "It is with great
enthusiasm that we announce that we will reopen in less than two weeks,
promising an experience that will exceed your expectations."
"Our team is working tirelessly to improve our
services, ensuring a seamless and excellent experience. While we look forward
to launching our cTrader platform, we are committed to synchronizing all
accounts, including MetaTrader, to ensure flawless processes and trading
conditions."
Source: True Forex Funds
True Forex Funds is not the only company grappling
with challenges in the proprietary trading space. Last year, the Commodity
Futures Trading Commission (CFTC) and the Ontario Securities Commission (OSC)
took action against My Forex Funds and its owner, Murtuza Kazmi.
The CFTC and OSC brought charges against Kazmi
and his companies, Traders Global Group Inc., in New Jersey and Canada. My
Forex Funds purportedly offered retail customers the opportunity to become
"professional traders" using the company's money.
However, investigations reveal that Traders Global
operated as a counterparty to most customer trades, not as a liquidity provider
as claimed. The CFTC obtained a restraining order freezing assets and mandating
the submission of records for examination.
Meanwhile, FPFX Technologies, a technology firm in the proprietary trading industry, allegedly terminated its agreement with Funded Engineer recently. This decision marked the end of another partnership in the trading community, highlighting broader challenges in the sector.
True Forex Funds recently ceased operations following the alleged termination of
its MT4 and MT5 licenses by MetaQuotes. Despite this setback, the Hungary-based online proprietary
trading firm has announced plans to
restart its operations next week.
True Forex Funds Navigates Disruptions
In response to the disruption of services, True Forex Funds has announced its intention to resume operation in the "week of February 19th."
Richard Nagy, the CEO of the company, recently expressed frustration over the lack of
warning and the challenge related to trading services on the platform.
Source: Discord
True Forex Funds is reportedly seeking the reinstatement of its licenses by MetaQuotes. However, Nagy has acknowledged the
possibility of migrating trading accounts to a different broker if negotiations
fail. The firm has advised traders to prepare for any outcome.
Preparing for Reopening
In an email sent to Finance Magnates, a
representative from True Forex Funds mentioned: "It is with great
enthusiasm that we announce that we will reopen in less than two weeks,
promising an experience that will exceed your expectations."
"Our team is working tirelessly to improve our
services, ensuring a seamless and excellent experience. While we look forward
to launching our cTrader platform, we are committed to synchronizing all
accounts, including MetaTrader, to ensure flawless processes and trading
conditions."
Source: True Forex Funds
True Forex Funds is not the only company grappling
with challenges in the proprietary trading space. Last year, the Commodity
Futures Trading Commission (CFTC) and the Ontario Securities Commission (OSC)
took action against My Forex Funds and its owner, Murtuza Kazmi.
The CFTC and OSC brought charges against Kazmi
and his companies, Traders Global Group Inc., in New Jersey and Canada. My
Forex Funds purportedly offered retail customers the opportunity to become
"professional traders" using the company's money.
However, investigations reveal that Traders Global
operated as a counterparty to most customer trades, not as a liquidity provider
as claimed. The CFTC obtained a restraining order freezing assets and mandating
the submission of records for examination.
Meanwhile, FPFX Technologies, a technology firm in the proprietary trading industry, allegedly terminated its agreement with Funded Engineer recently. This decision marked the end of another partnership in the trading community, highlighting broader challenges in the sector.
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
Retail Traders Can Now Access Prediction Markets Through Binance Wallet
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FP Markets takes the spotlight as Global Broker of the Year 2025 at the Finance Magnates Awards.
Martin Stoilov, Head of Client Experience, shares that trust, innovation, and people played a key role in the company’s success, supported by a strong foundation of integrity and client-centricity.
Following this milestone, FP Markets continues to focus on growth, technology investment, and its core values of transparency and excellence.
👉 Be part of FM Awards 2026: https://awards.financemagnates.com/#nominate
FP Markets takes the spotlight as Global Broker of the Year 2025 at the Finance Magnates Awards.
Martin Stoilov, Head of Client Experience, shares that trust, innovation, and people played a key role in the company’s success, supported by a strong foundation of integrity and client-centricity.
Following this milestone, FP Markets continues to focus on growth, technology investment, and its core values of transparency and excellence.
👉 Be part of FM Awards 2026: https://awards.financemagnates.com/#nominate
In this video, we review @HolaPrimeMarketsOfficial, a multi-asset forex and CFDs broker offering different account types, trading platforms, and flexible trading conditions.
We cover the broker’s overall offering, including account options, trading environment, platforms like MT4 and MT5, and additional services such as managed accounts and fast withdrawals.
Watch the full video to see if Hola Prime Markets fits your trading needs.
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▶️ YouTube: /@financemagnates_official
#HolaPrime #ForexBroker #CFDTrading #FinanceMagnates #Trading #Forex #BrokerReview
In this video, we review @HolaPrimeMarketsOfficial, a multi-asset forex and CFDs broker offering different account types, trading platforms, and flexible trading conditions.
We cover the broker’s overall offering, including account options, trading environment, platforms like MT4 and MT5, and additional services such as managed accounts and fast withdrawals.
Watch the full video to see if Hola Prime Markets fits your trading needs.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
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▶️ YouTube: /@financemagnates_official
#HolaPrime #ForexBroker #CFDTrading #FinanceMagnates #Trading #Forex #BrokerReview
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In this video, we review @HolaPrime_Global, a proprietary trading firm offering evaluation programs and performance-based payouts in simulated market environments.
We cover how the challenge model works, including account types, profit splits (up to 95%), trading rules, and what it takes to reach a funded account. You’ll also learn about available platforms like MT4, MT5, cTrader, and more, along with insights into payouts, support, and trading conditions.
Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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▶️ YouTube: /@financemagnates_official
#HolaPrime #PropFirm #Trading #FinanceMagnates #Forex #FuturesTrading #TradingReview #PropFirmReview
In this video, we review @HolaPrime_Global, a proprietary trading firm offering evaluation programs and performance-based payouts in simulated market environments.
We cover how the challenge model works, including account types, profit splits (up to 95%), trading rules, and what it takes to reach a funded account. You’ll also learn about available platforms like MT4, MT5, cTrader, and more, along with insights into payouts, support, and trading conditions.
Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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▶️ YouTube: /@financemagnates_official
#HolaPrime #PropFirm #Trading #FinanceMagnates #Forex #FuturesTrading #TradingReview #PropFirmReview
Axi Winner Spotlight 🏆 | Global Most Innovative Broker 2025 #Innovation #Trading #Fintech #Broker
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Axi takes the spotlight at the Finance Magnates Awards, winning Global Most Innovative Broker 2025.
Olivia Xenofontos and Ivanna Openko share how the team will feel: proud, motivated, and ready to keep delivering.
They also describe the night as well-organized, focused, and enjoyable for all.
👉 Be part of FM Awards 2026.
Axi takes the spotlight at the Finance Magnates Awards, winning Global Most Innovative Broker 2025.
Olivia Xenofontos and Ivanna Openko share how the team will feel: proud, motivated, and ready to keep delivering.
They also describe the night as well-organized, focused, and enjoyable for all.
👉 Be part of FM Awards 2026.
Recognition that matters.
Built on transparency.
Driven by the industry.
The Finance Magnates Awards 2026.
Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
Recognition that matters.
Built on transparency.
Driven by the industry.
The Finance Magnates Awards 2026.
Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
