In an unexpected turn of events, True Forex Funds faces a temporary suspension of its services. The CEO of True Forex Funds has released a statement revealing that MetaQuotes has terminated their licenses, leading to an immediate freeze of operations. The reason cited involves issues with a third-party provider used for equity synchronization, which MetaQuotes claims did not adhere to their acceptable use policies.
True Forex Funds Services Temporarily Suspended
The firm, caught off guard by MetaQuotes’ sudden decision, expressed surprise and disappointment, especially since there was no prior warning or opportunity given to rectify the situation. True Forex Funds has been utilizing this third-party service since 2021 without any previous objections from MetaQuotes, making the termination all the more bewildering.
The Path Forward for True Forex Funds
Despite this setback, True Forex Funds remains resilient. The team is diligently working on a strategy to resume operations and continue serving their community. Efforts to negotiate with MetaQuotes are ongoing, but plans to migrate trading accounts to another broker are being considered as a viable alternative. The firm is committed to ensuring that all pending payouts are processed once the platform is operational again.
- No Prior Warning: The abrupt termination by MetaQuotes came without any forewarning, leaving True Forex Funds no chance to switch to a different service provider in time.
- Commitment to the Community: True Forex Funds reassures its traders of its determination to overcome this challenge and continue providing top-notch services.
- Potential Migration Challenges: Moving to a new broker could lead to discrepancies in offered symbols, complicating the migration of open positions. The firm advises traders to close their positions before market closure to avoid automatic closures.
True Forex Funds apologizes for the inconvenience and distress this situation may cause its traders. Labeling the incident as a force majeure, the firm emphasizes that the circumstances leading to the service freeze were beyond their control. Traders are encouraged to stay tuned for updates as True Forex Funds navigates through this challenging period, aiming to restore services as swiftly and smoothly as possible.
Looking Ahead
True Forex Funds is dedicated to finding a resolution and moving forward. The firm’s commitment to transparency and trader support remains unwavering during these trying times. As they work towards a solution, the community’s patience and understanding are greatly appreciated. Stay connected with True Forex Funds for further announcements regarding the resumption of services.
