GM Lark Traders. This is Lark Digest, the trading newsletter that gives you the lowdown on all the drama in the prop firm space.

On today’s menu:

• True Forex Funds collapses? 📉 

• How trading gurus trick you 🤢 

• A full breakdown of the week ahead 😍 

TRUE FOREX FUNDS SUSPEND ALL SERVICES ❌

If you’re still struggling with PTSD from My Forex Funds shutting down, we’ve got bad news for you.

Just a few days ago, True Forex Funds “temporarily” suspended their services.

This is a big deal. 

TFF has a huge following and is well known, and according to Similarweb, with ~1 million monthly visits, they often rank in the top 5 for monthly traffic against other firms.

So, what happened? Let’s take a look at the official report, and then we’ll share the Lark Report.

The official report:

On their website, TFF said:

“Due to a non-sense reason, MetaQuotes has terminated our licenses, and therefore, we have to freeze our services TEMPORARILY.”

They go on to say that the reason for termination is because they were “using a third-party provider for equity synchronization purposes who has allegedly not connected to MetaTrader’s client terminal in a way that is fully acceptable by MetaQuotes.”

Hmm, a third-party provider? More on that later…

Of course, when the official statement came out, Twitter went wild.

So, what does all of this mean?

1/ Thousands of traders are stuck. Everybody who purchased a challenge is now stuck and unable to trade their account.

2/ No payouts? Perhaps the worst part of their official statement is that “the remaining payouts will be settled once the platform is unfrozen.”

3/ Gone forever? TFF is now in a very similar situation to My Forex Funds. Even if they do come back, will traders trust them?

Now that we’ve looked at the official report, it’s time for the Lark Report.

Here’s what we think:

1/ Why use a third-party plugin? We saw something similar with My Forex Funds. Perhaps we’re naive, but at Lark, we always pass on to our traders whatever Eightcap or ThinkMarkets gives us. It’s never even been a question.

2/ Payouts shouldn’t be frozen. It was a different situation back in September when Deel suddenly shut off prop firms. That directly impacted the ability to process payouts, and a delay was expected. But why should traders who have earned a payout be penalized? The MetaQuotes issue doesn’t affect them.

3/ Not a complete surprise. Rumblings of some issues with TFF began in late January so the complete suspension of their services isn’t a complete surprise.

4/ Competition is good. The more competition we have in this industry, the more it forces everyone to improve. With that said, we hope everything gets resolved quickly for both TFF and their traders.

HOW TRADING GURUS TRICK YOU 🤢 

Are you tired of being lied to?

At Lark, we believe that so many traders fail simply because they were not taught to have realistic expectations of what trading can offer.

Who’s fault is that?

Trading influencers.

And in our latest YouTube video, we share how you can break free from these distractions to truly make progress in your trading.

THE WEEK AHEAD 🚀 

This week, we have a lot less news than last week, which was a wild one.

That means the market will continue digesting Powell’s comments, including the wild ones he made last night on 60 Minutes.

But for us eager beavers looking ahead, this is what we’re watching.

1/ RBA interest rate decision. On Tuesday, we’ve got their latest policy announcement, so for all Aussie traders, keep an eye out. They’re expected to keep rates unchanged.

2/ Canada unemployment rate. On Friday, we’ll see just how many Canadians aren’t working. Considering how cold it is here right now, we’re not surprised the rate is expected to go from 5.8% to 5.9%.

That’s pretty much it. We’re not a fan of focusing on events that aren’t going to move the market.

But, of course, this is trading. Things change quickly, so if we get some surprising event (like Trump potentially doing a rally in the Bronx?), we’ll update you throughout the week.

DIGESTIBLE MEMES 🍪 

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