Trustplus247 Forex Broker provides real users with * positive reviews, * neutral reviews and 2 exposure review!
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Im being scammed the asking for more an more money from the get my withdrawal
unable to withdrawn til they changed name to TRUSTPLUSFX stil i cant withdraw.til today i have to pay n pay but no withdrawal til today Now its Trustplusfx new name
Trustplus247 has garnered significant attention in the forex trading community, but opinions on its legitimacy and reliability vary widely. This review synthesizes the latest information available, highlighting both user experiences and expert insights. Overall, Trustplus247 appears to be an unregulated broker with numerous complaints regarding withdrawal issues and customer service, raising red flags for potential traders.
Note: It is crucial to consider the varying regulatory environments across regions, as Trustplus247 operates from multiple jurisdictions. This review aims to present a fair and accurate depiction of the broker based on available data.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 3 |
| Customer Service and Support | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
We evaluate brokers based on a combination of user feedback, expert analysis, and factual data from reliable sources.
Founded within the last 5 years, Trustplus247 is registered in Saint Vincent and the Grenadines. It operates as an offshore online forex broker, providing a range of trading instruments including forex, metals, energies, indices, and cryptocurrencies. Notably, Trustplus247 does not support popular trading platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5), opting instead for a proprietary trading interface, which has been criticized by users for lacking essential features. The broker currently holds no valid regulatory license, which is a significant concern for potential traders.
Regulatory Environment:
Trustplus247 operates without any valid regulatory oversight, which poses considerable risks for traders. According to WikiFX, it has been classified as "no license," indicating a lack of accountability and protection for clients' funds. This unregulated status is a major red flag, as trading with such brokers can lead to potential scams or fraudulent activities.
Deposit/Withdrawal Methods:
The broker accepts deposits and withdrawals primarily in USD, but specific details about supported cryptocurrencies remain unclear. Users have reported issues with withdrawal requests, often facing delays and unexpected fees, which further undermines the broker's credibility.
Minimum Deposit:
The minimum deposit requirement is set at $100 for the micro and ECN accounts, while the pro account requires a minimum of $500. This accessibility might attract novice traders, although the associated risks are considerable.
Bonuses/Promotions:
There is no clear information about bonuses or promotional offers, which is often a tactic used by unregulated brokers to lure in new clients.
Available Asset Classes:
Trustplus247 offers a variety of asset classes, including 28 currency pairs, 4 metals (such as gold and silver), 2 energies, 10 indices, and 3 cryptocurrencies. However, the lack of a comprehensive trading platform may limit traders' ability to effectively engage with these markets.
Costs (Spreads, Fees, Commissions):
The broker offers floating spreads starting from 0.4 pips for the micro account and claims to provide tighter spreads for the pro account. However, specific details regarding commissions and additional fees remain undisclosed, making it difficult for traders to fully understand the cost of trading.
Leverage:
Leverage ratios vary by asset class, with up to 1:200 for currency pairs and lower ratios for indices and cryptocurrencies. While high leverage can amplify profits, it also significantly increases the risk of losses, particularly for inexperienced traders.
Trading Platforms:
Trustplus247 does not offer MT4 or MT5, which are industry standards for many traders. Instead, it utilizes a proprietary trading platform that has received criticism for its lack of user-friendly features and reliability.
Restricted Regions:
The broker's operations are not explicitly defined in terms of restricted geographical areas, but the absence of regulation raises concerns about its legitimacy in various jurisdictions.
Customer Support Languages:
Customer support is available via email and telephone, but users have reported poor experiences, including unresponsive service and a lack of live chat options. This has contributed to a low trust rating among existing customers.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 3 |
| Customer Service and Support | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
Account Conditions (4/10):
Trustplus247 offers multiple account types with varying minimum deposits. However, the lack of regulation and transparency about commissions limits its appeal.
Tools and Resources (3/10):
The absence of MT4/MT5 and limited educational resources hinder traders, especially beginners, from developing effective trading strategies.
Customer Service and Support (2/10):
Users have reported significant challenges with customer support, including long response times and unfulfilled withdrawal requests.
Trading Experience (3/10):
The proprietary trading platform fails to meet the expectations of many traders accustomed to more established platforms, leading to frustration.
Trustworthiness (1/10):
The lack of regulatory oversight and numerous complaints about withdrawal issues contribute to a very low trust rating.
User Experience (2/10):
Overall user experiences are predominantly negative, with many expressing dissatisfaction regarding the broker's operations.
In conclusion, Trustplus247 presents significant risks for potential traders due to its unregulated status, poor customer service, and lack of transparency. It is highly advisable for traders to consider regulated alternatives that offer greater security and support.
