True Forex Funds Review 2026

True Forex Funds (TFF) was once one of the most popular and widely-used proprietary trading firms in the industry. At its peak, the firm had tens of thousands of active traders and was regularly cited as a top-tier prop firm alongside FTMO and My Forex Funds.

The MetaQuotes Shutdown

In September 2023, MetaQuotes — the developer of the MT4 and MT5 trading platforms — revoked True Forex Funds' platform license. This was part of a broader crackdown by MetaQuotes on prop firms that were using demo accounts to simulate funded trading environments.

MetaQuotes argued that this usage violated their terms of service, as the platforms were designed for real brokerage operations, not simulated challenge models. When the license was revoked, TFF immediately lost the ability to operate, as their entire infrastructure depended on MetaTrader.

Impact on Traders

The shutdown was sudden and devastating for active traders:

• •All active challenges were immediately terminated with no refunds
• •Funded accounts were frozen — traders could not close positions or withdraw profits
• •Pending payout requests were never processed
• •Customer support became overwhelmed and eventually unresponsive

Aftermath

Some traders reported receiving partial refunds through payment processors and chargebacks, but the vast majority lost both their challenge fees and any outstanding profits. The TFF team made public statements about exploring alternative platforms, but the firm never resumed operations.

Industry Impact

The TFF shutdown, along with the My Forex Funds regulatory action, fundamentally changed the prop trading industry. It forced firms to diversify away from MetaTrader dependency and adopt platforms like cTrader, DXTrade, and proprietary solutions.