Abstract：Losing trades due to misleading forex signals on the TrueFX platform? Followed all the instructions, yet you received losses? Have you been lured into trading with TrueFX because of the NFA-registered claim on its website? Many have reported these trading concerns online. In this TrueFX review article, we have discussed these complaints. Take a look!
Losing trades due to misleading forex signals on the TrueFX platform? Followed all the instructions, yet you received losses? Have you been lured into trading with TrueFX because of the NFA-registered claim on its website? Many have reported these trading concerns online. In this TrueFX review article, we have discussed these complaints. Take a look!
Overview of TrueFX
TrueFX is a financial technology company with over 26 years of operations using high-performance trading networks and advanced workflow automation software. It has a wide clientele base, including banks, asset managers, and brokers.
Elaborating on the Top Forex Trading Complaints Against TrueFX
The 950-pip Loss Complaint
A trader reported having lost 950 pips when trading through the TrueFX platform. The reason cited by the trader was inaccurate forex signals. According to the complaint, the broker announced having posted a profit of over 1000 pips for the period where the trader faced a loss. Seeing this, the trader posted a negative TrueFX review online.
The Initial Good Experience Turned into the Worst Later, the Trader Alleged
Another trader reported a similar thing with a slight difference. The trader found the TrueFX platform good initially. But as time went on, the trader continued to witness losing trades. Despite implementing the forex signals accurately, the trader was left stunned with a negative account balance of over 500 pips. However, the platform posted profits of over 1528 pips. Check out the screenshot below, capturing the essence of the complaint.
The Fake NFA-registration Allegation Against TrueFX
A trader alleged that TrueFX wrongly posted its registration with NFA on its website. According to the trader, if the platform is making a lot of pips through the cheapest website, it could be a SCAM! Here is what the trader said when sharing the TrueFX review.
TrueFX Review: The Score & Regulatory Status
These complaints made the WikiFX team investigate the broker platform thoroughly. When checking the regulatory status, the team found the company to be unregulated. Trading with unregulated forex brokers, such as TrueFX, will likely pile losses for traders. Considering the prevailing investment risks for traders, the team gave the broker a score of 1.55 out of 10.
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