Following our exclusive report from early February that retail prop trading firm True Forex Funds had ceased operating, becoming one of the first victims of MT4/MT5 trading platform developer MetaQuotes’ crackdown on prop firms, the company has now informed its clients and the public that it is shutting down, for good.

On its website, True Forex Funds now shows the following notice:

Official Closure of True Forex Funds

We regret to inform you that True Forex Funds has ceased all operations and will be closing permanently due to financial insolvency.

Despite extensive efforts to stabilize and improve our financial health, we have been unable to continue our operations.

We sincerely appreciate the dedication and hard work of our employees, the trust our clients have placed in us, and the consistent support from our partners. Your commitment has been the foundation of our endeavors, and for that, we are deeply grateful.

Thank you for your invaluable support and for being an essential part of True Forex Funds.

True Forex Funds initially ceased operating, as noted above, after MetaQuotes terminated its trading platform licenses. True Forex Funds has been on the US CFTC’s RED List since last June, for soliciting and/or accepting funds from U.S. customers. The CFTC’s RED (Registration Deficient) List contains names of foreign (i.e. non-US) entities that appear to be acting in a capacity that requires registration with the CFTC, but they are not registered with the CFTC.

The prop firm made several attempts at restarting its operations, but apparently those never got off the ground.