Red flag · unpaid payouts on closureForex / CFD · closed 14 May 2024 · trueforexfunds.com
True Forex Funds
14 / 100 · 60% verified
Why this zone
Red: it closed owing payouts — about $1.2M to some 300 traders, by reports. It was also on the US CFTC's list of firms not registered to serve US clients.
In short
A forex challenge firm that lost its MetaTrader licences in February 2024, froze accounts for about three months and closed for insolvency on 14 May 2024. Reports put unpaid payouts at about $1.2M owed to some 300 traders. The US CFTC lists it as not registered to serve US clients.
Firm details
- Website
- trueforexfunds.com
- What you traded
- Forex and CFDs
- Closed
- 14 May 2024
- Reason
- Financial insolvency (its own words)
- CFTC RED List
- Added 12 June 2023
- Unpaid
- About $1.2M, ~300 traders (reported)
Unpaid payouts
~$1.2M
about 300 traders, per reports
CFTC RED List
since 2023
not registered for US clients
Accounts frozen
~3 months
before the closure
Closed
May 2024
'financial insolvency'
Score by category
Whose money (35%)5
Simulated challenge firm; not registered with the CFTC for US clients.
Real risk (25%)no data · counted as 50
Rules no longer published.
Trading as a job (15%)0
Closed.
Do they pay (15%)0
About $1.2M owed to about 300 traders at closure, per reports.
Price and fair rules (10%)0
Accounts frozen for about three months before closing.
Strengths
- None we could find
Watch out for
- Closed with about $1.2M of payouts unpaid (reported)
- On the US CFTC RED List since June 2023
- Accounts frozen after losing MetaTrader licences
- Any 'True Forex Funds' site selling today is likely a clone
Who it fits
Fits: nobody — the firm is closed.
Doesn't fit: anyone. Do not buy from a site using this name.
Access: closed.
Remember the one rule
Simulated account after you pass = you trade against the firm.
Real account with real money = your profit is its profit.
Last changes
Closed. We keep this page so traders can check what happened.
Disclosure: no relationship. No affiliate links on red-zone firms.
Sources: CFTC RED List, FX News Group (May 2024), FundedTrading.com · Checked November 2026. The firm can send corrections.