TRUST FX MARKET Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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Careful about your investment! I requested my money to be transferred to an external firm. Took me almost a month for this transaction. It was back and forth, if you don’t call they will not let you know what was going on.
Trust FX Market has garnered a significant amount of scrutiny in the forex trading community, primarily due to its lack of regulation and the accessibility of its platform. This review synthesizes various reports and user experiences to provide a comprehensive overview of what potential traders should know before engaging with this broker.
Summary: Overall, Trust FX Market presents a concerning profile for potential investors. The absence of regulatory oversight, coupled with user reports of high minimum deposit requirements and limited customer support, raises significant red flags. Additionally, the broker's official website is currently inaccessible, further complicating the assessment of its legitimacy.
Note: It is important to emphasize that Trust FX Market operates under various regional entities, which may lead to discrepancies in user experience and regulatory compliance. This review aims to provide a fair and accurate representation based on the available data.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 3 |
| Trading Settings | 4 |
| Trustworthiness | 1 |
| User Experience | 2 |
How We Rate Brokers: Our ratings are derived from a comprehensive analysis of user feedback, expert opinions, and the factual data available regarding the broker's services and operational practices.
Founded in 2017, Trust FX Market claims to operate out of the United States, offering a range of trading services on popular platforms like MetaTrader 4 (MT4). The broker claims to provide access to various asset classes, including forex, commodities, and indices. However, it is crucial to note that Trust FX Market is unregulated, with no oversight from recognized financial authorities, raising concerns about the safety of client funds.
Regulatory Status: Trust FX Market is not regulated by any major financial authority, which is a significant concern for potential investors. The lack of oversight means there are no guarantees regarding the safety of deposits or the integrity of trading practices. Reports indicate that the broker has faced warnings from multiple financial regulators, including the UK's FCA, indicating that it operates without proper authorization.
Deposits and Withdrawals: The broker reportedly requires a minimum deposit of $100,000 to open a trading account, which is considerably higher than many competitors in the market. Additionally, withdrawals are limited to specific methods, such as Bitcoin and bank transfers, which may not be ideal for all traders. The minimum withdrawal amount is also set at 5%, which could pose challenges for those looking to access smaller profits.
Bonuses and Promotions: Trust FX Market offers various promotional incentives, but these often come with stringent conditions. Many reports suggest that trading bonuses are tied to high trading volume requirements, which may be difficult to meet, thereby complicating withdrawal processes. This practice is often seen in unregulated brokers as a tactic to retain client funds.
Asset Classes: The broker claims to offer a diverse range of trading instruments, including forex, commodities, stocks, and indices. However, the actual availability of these assets may vary, and the lack of transparency regarding spreads and fees raises questions about the true cost of trading with Trust FX Market.
Costs: While Trust FX Market advertises spreads starting from zero pips, user experiences indicate that actual trading costs may be significantly higher, particularly for major currency pairs. Furthermore, the absence of clear information regarding commissions and fees adds to the uncertainty surrounding trading costs.
Leverage: The broker offers leverage of up to 1:100, which can be appealing to traders looking to maximize their positions. However, high leverage also comes with increased risk, particularly for inexperienced traders. The potential for significant losses should not be underestimated.
Trading Platforms: Trust FX Market supports the MT4 platform, which is widely regarded for its user-friendly interface and advanced charting tools. However, the broker's website is currently inaccessible, making it difficult for potential users to evaluate the platform's functionality and reliability.
Restricted Regions: Trust FX Market does not accept clients from the United States, which could limit its user base. Additionally, the broker's unregulated status may deter traders from regions with strict financial regulations.
Customer Support Languages: Customer support appears to be limited, with users reporting difficulties in accessing timely assistance. The lack of a functional website further complicates communication with the broker's support team.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 3 |
| Trading Settings | 4 |
| Trustworthiness | 1 |
| User Experience | 2 |
Account Conditions: The high minimum deposit requirement of $100,000 is a barrier for many traders, especially beginners. This factor significantly lowers the rating for account conditions.
Tools and Resources: While the MT4 platform is a strong point, the overall lack of educational resources and trading tools available to users detracts from its appeal.
Customer Service and Support: Reports of inadequate customer support and an inaccessible website highlight the challenges users may face when seeking assistance.
Trading Settings: The potential for high leverage is attractive, but the lack of clarity regarding spreads and commissions raises concerns about overall trading conditions.
Trustworthiness: The absence of regulation and the broker's negative reputation among users result in a very low trust rating.
User Experience: Overall user experiences indicate significant dissatisfaction, primarily due to the broker's lack of transparency and support.
In conclusion, Trust FX Market presents a concerning profile for potential traders. The lack of regulation, high minimum deposit requirements, and limited customer support make it a risky choice for those looking to invest in forex trading. Prospective clients are strongly encouraged to conduct thorough research and consider regulated alternatives before engaging with this broker.
