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True Forex Funds, a prominent prop trading firm known for providing funding and trading opportunities to forex traders worldwide, has announced its permanent closure due to financial insolvency. This decision marks the end of its operations, impacting many in the forex trading community.
Background and Closure Announcement
True Forex Funds had been a player in the forex prop trading industry, allowing traders to manage substantial capital based on their trading skills and performance. However, recent financial challenges have led to the firm’s inability to sustain its business model.
In an official statement released by the company, it was mentioned that despite exhaustive efforts to stabilize its financial health through various strategies and adjustments, the continued operations have become untenable. This regrettable outcome has led to the decision to cease all activities permanently.
I made a video about TFF Payouts after closure. Unfortunately, based on my connections info, there is a significant possibility that the TFF prop company will not pay pending payouts:
Impact on Stakeholders
The closure of True Forex Funds has a multi-faceted impact:
- Employees: The staff who have dedicated their time and skills to build and support the firm face uncertainty regarding their professional futures.
- Traders: Numerous traders who relied on the firm for funding and growth opportunities in their trading careers must seek alternatives.
- Partners and Clients: The network of partners and clients who have engaged with True Forex Funds will also feel the repercussions of this closure, as ongoing projects and partnerships will abruptly end.
Right now, traders are angry and disappointed on Twitter.
Gratitude but without a solution for payouts
The statement from True Forex Funds also highlighted the company’s gratitude towards everyone who played a role in its journey. The firm acknowledged its employees’ hard work and dedication, the trust placed by its clients, and the continuous support from its partners. This collective effort was the cornerstone of True Forex Funds’ operations, and the company expressed deep appreciation for the community that stood by it over the years.
Looking Ahead
As the forex trading community absorbs the impact of this closure, attention now turns to the future pathways for those affected. Former clients and employees will likely explore alternative prop trading firms and financial strategies. The industry will also likely witness shifts in how funding and capital growth opportunities are structured in response to the vulnerabilities exposed by the closure of True Forex Funds.
It sounds incredibly frustrating to deal with the sudden closure of True Forex Funds and the additional complication of blocked payments. Such closures can be stressful, mainly if you relied on the firm for trading opportunities or had pending financial transactions that were now in limbo. The uncertainty and potential financial impact only add to the strain. It’s a challenging situation that not only disrupts your immediate trading strategies but also poses challenges for financial planning and trust in similar platforms in the future.
My lesson is that traders must choose only the big forex prop companies!
He is an expert in financial niche, long-term trading, and weekly technical levels.
The primary field of Igor's research is the application of machine learning in algorithmic trading.
Education: Computer Engineering and Ph.D. in machine learning.
Igor regularly publishes trading-related videos on the Fxigor Youtube channel.
To contact Igor write on:
igor@forex.in.rs
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