Do you want to trade with The TrustFx? Is TheTrustFx.com reliable to trade? See complete The TrustFx review to know about this platform whether to trade here.
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.
What is The TrustFx?
The TrustFx located at TheTrustFx.com is an offshore brokerage company with a lot of promises for forex traders. The company openly presented an office address in London.
The broker offers variety of trading account for traders such as. See below
In addition, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. More so, it presents a zero spread difference in Buy/Sell.
Deposit and Withdrawal
TrustFx Minimum Deposit:
TrustFx deposit is indicated $500 according to the account type. In contrast, a licensed FX broker 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.
Searching the broker funding methods, the broker offers only bank transfers.
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!
TrustFx withdrawal leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
TrustFx platform claims to use the industry standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platform. There was one MT5 download link that seemed ok, until we saw that it was the default MT5 link, and not one owned by the broker.
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.
As for The TrustFx leverage, it can get up to 1:2000. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, however, it equally increases the risk of sudden and excessive losses. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50.
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.
Things You Should Know about TheTrustFx.com Regulation
First of, TrustFx.com is based in the United Kingdom. We diligently checked the registers of the Financial Conduct Authority (FCA) in the UK, but no broker by the name of TrustFx was found there.
And that also means that the forex broker in question can not possibly be based in the UK either, because if that was completely so it should have also been licensed and authorized by the FCA in the UK, as is required by the British Law.
Further, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
TrustFx Licensing and Regulation
It is not far from believing that this broker 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
TrustFx located at TheTrustFx.com claims to appear like a genuine trading broker, however, that cannot be ascertained. From all indications, we would advise traders to steer clear from this broker as it likely a platform run by scammers. To this end, we urge our readers to rely on regulated brokers like this or any licensed entity.
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