Heard of TeamtrustFX.com trading platform? Really want to find more details? Read TeamtrustFX reviews to know why this broker lacks credibility.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
TeamtrustFX: What is it?
TeamtrustFX otherwise known as TeamtrustFX.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
What’s more, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
Is TeamtrustFX Regulation Claim Genuine?
First of, TeamtrustFX is linked with an address in South Zone Sandigo, United States.
Keep in mind, to operate as a forex broker in the United States, a company must be registered as a futures commission merchant and foreign exchange dealer with the Commodity Futures Trading Commission (CFTC) and to be a member of the NFA. Sadly, this broker is not licensed in the State.
The situation always gets worsen for unlicensed brokers when some institutions issue a warning against them. Another financial authority the Financial Conduct Authority, FCA has blacklisted the broker for public to see.
Furthering, the broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These drawbacks are for forex traders/ clients to avoid losing money with scam brokers lurking online. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
TeamtrustFX Minimum Deposit
TeamtrustFX minimum deposit requires $20. This is a fair amount to start if only the broker is licensed.
In comparison, you should better stay with a legitimate broker that clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
TeamtrustFX offers variety of trading account for clients. According to the account descriptions, the broker leverage is capped 1:500.
As for the broker funding methods, we were unable to ascertain what payment methods infinityfxmarkets.com uses.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
TeamtrustFX Trading Software
TeamtrustFX claims to offer the popular trading platforms Meta Trader 4/ MetaTrader 5. But there is no link on the website to download this or any other trading software.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Argument Against TeamtrustFX Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that TeamtrustFX.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
TeamtrustFX located at TeamtrustFX.com appears like a genuine trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, this broker lacks one important indicator which is – it license. Following this, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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Last Updated on May 18, 2023 by Danny