Previously, you were told that True Forex Funds made an agreement with a broker for a new MetaTrader server, and now they have a new update. Unfortunately, all brokers supporting proprietary trading firms are at risk of MetaTrader license suspension.
MetaQuotes might not or might allow prop firms to use MetaTrader only if they purchase their license and follow their requirements. This situation has put True Forex Funds in a difficult position. Additionally, they must carefully consider the potential impact on their trading operations if they choose to comply with MetaQuotes’ requirements.
The firm shared that they have already applied for a new MetaTrader license with their FX license. Moreover, they have also built their synchronization solutions, which are 100% based on the official DLLs of MQ.
True Forex Funds and MetaTrader Server Update – Migration Needed?
True Forex Funds shared that their team can already update your equity to their dashboard on MT5, which was a critical point for the potential relaunch. They are currently working on a feature that, upon your choice, will automatically migrate your account to cTrader, and you can continue trading with the same balance where you stopped. This feature will provide traders with more flexibility and options in their trading journey. Additionally, True Forex Funds mentioned that they are constantly improving their platform and adding new features to enhance the trading experience for their clients.
The team was parallel working on providing you with the MetaTrader platform, but in the current stage, the firm is blocked by MQ’s approval for the new application.
Clients from the US can expect that MetaTrader will no longer be available for them. Furthermore, the firm shared that they expect this to happen in the whole industry, so they advise you to mitigate your risk and not overleverage yourself with firms that offer MetaTrader for US clients. It is important to note that the firm is actively working on providing a seamless transition to cTrader for all clients. They assure that the migration process will be smooth and hassle-free. Additionally, the firm recommends exploring alternative trading platforms that are available for US clients to ensure uninterrupted trading opportunities.
US clients will have the option to trade on other trading platforms. True Forex Funds is also in the stage of integration of such a platform.