Truist Financial 2025 Review: Everything You Need to Know
Truist Financial, formed from the merger of BB&T and SunTrust in 2019, has garnered mixed reviews in 2025. While it offers a range of banking and investment services, user experiences highlight significant concerns regarding customer service and regulatory status. Key features include a self-directed trading platform, Truist Trade, and competitive commission structures, but many users express dissatisfaction with the overall service quality.
Note: It is important to consider that there are different entities operating under the Truist brand across regions, which may affect user experiences and perceptions. This review synthesizes various sources to provide a balanced perspective.
Ratings Overview
How We Rate Brokers: Ratings are based on user feedback, expert opinions, and factual data regarding services offered.
Broker Overview
Founded in 2019, Truist Financial operates primarily in the United States, with a strong presence in the southeastern region. It offers a comprehensive suite of banking products, including checking and savings accounts, loans, and investment services. The trading platform supports popular software like MT4 and MT5, allowing access to various asset classes such as stocks, ETFs, options, and mutual funds. However, regulatory oversight remains a significant concern, as the brokerage is not fully licensed under major financial authorities.
Detailed Breakdown
Regulatory Status
Truist Financial operates under different regulatory frameworks depending on the region. In the U.S., it is subject to oversight by the National Futures Association (NFA), but concerns have been raised about its status, with some sources labeling it as a "suspicious clone" broker. Users have reported issues that suggest a lack of transparency and regulatory compliance, which could pose risks for investors.
Deposit/Withdrawal Currencies
Truist Financial primarily supports transactions in USD, with limited options for cryptocurrency deposits or withdrawals. Users should verify the specific currencies accepted based on their individual accounts and regions.
Minimum Deposit
The minimum deposit to open a trading account with Truist Financial is relatively low, starting at $1. However, users must be cautious of the $60 annual maintenance fee unless they meet certain asset thresholds.
Truist has offered promotional bonuses for new account openings, such as a $400 bonus for qualifying direct deposits. However, users have reported discrepancies in receiving these bonuses, leading to frustration and claims of misleading advertising.
Tradable Asset Classes
Truist Financial allows trading in various asset classes, including:
- Forex: Currency trading options available.
- Stocks: Comprehensive access to U.S. equities.
- ETFs and Mutual Funds: Investment opportunities in diversified funds.
- Options: Available but subject to a commission structure.
Costs (Spreads, Fees, Commissions)
Truist Financial advertises competitive commission rates, particularly with no commissions on equities for orders of 1,000 shares or less. However, fees for options trading can be steep, with commissions ranging from $38 to $51 based on the trade amount. Users have reported that the overall cost structure may not align with industry standards, especially concerning the annual account fee.
Leverage
Information regarding leverage options is not consistently available, and users have noted that margin trading conditions are unclear, with interest rates on loans not published.
Truist Financial offers trading through MT4 and MT5 platforms, which are widely recognized in the trading community for their robust features and analytical tools. However, some users have criticized the platform for its simplicity, suggesting that other brokers may provide a better trading experience.
Restricted Regions
Truist Financial's services are primarily available in the U.S. and may have limitations for users in other regions. Users are advised to check specific availability based on their location.
Available Customer Support Languages
Customer support primarily operates in English, with limited services available in other languages. Users have reported difficulties in reaching customer service, particularly regarding complex issues.
Repeated Ratings Overview
Detailed Explanations
Account Conditions
Truist Financial provides a variety of account options, but users have expressed concerns about hidden fees and the clarity of terms. The annual maintenance fee of $60 is particularly contentious among smaller investors.
While the platform offers essential tools for trading, the lack of advanced features and educational resources has left some users wanting more. Many have compared it unfavorably to competitors like Charles Schwab.
Customer Service and Support
Customer service has been a significant pain point for users. Complaints about long wait times, unhelpful representatives, and unresolved issues have led to a low satisfaction rating in this category.
Trading Experience
The trading experience is generally straightforward, but some users have reported technical issues and a lack of support during high-volume trading periods.
Trustworthiness
Concerns about regulatory compliance and transparency have affected Truist Financial's trustworthiness. Users are advised to exercise caution when trading with this broker.
User Experience
Overall user experience has been marred by service issues and complaints about account management, leading many to recommend seeking alternative banking and trading options.
In conclusion, while Truist Financial offers a range of services and competitive commission structures, significant concerns about customer service, regulatory compliance, and user experience should be carefully considered before engaging with the platform.
