Trust Pixs Review
You have probably ended up on this Trust Pixs review because you were searching for a quality and professional online broker for your trading journey. The lure of the financial markets is hard to resist these days because they seem to be offering a substantial amount of profits and for minimal investments. But, the influx of people in this space has also attracted the attention of cybercriminals and scam brokers have popped up a dime a dozen. This means that you have to proceed with caution, or you just might find yourself empty-handed due to a scam.
The problem for most people is that identifying these scam brokers is not that simple. A look at their website will not send up any immediately red flags, especially when you are just skimming and not digging in deep. If you want to find out the whole truth, you have to look closely and actually verify the claims these platforms make. How can you do that? This is where the following review comes in because it can help you in identifying whether the broker is scam or legitimate. Trust Pixs is one of the brokers you will find at your disposal when you initiate your search and you have to do some digging before you open an account. What do you need to know? Read on to find out:
Check their regulatory and licensing status
The easiest way to answer the question of whether a broker is scam or legitimate is to check their regulatory and licensing status. A legitimate brokerage is one that boasts a license that has been issued by a regulatory body. When you go through the Trust Pixs website, you will notice that they claim to be licensed. However, the company is not really licensed anywhere. How?
This is because Trust Pixs is operating from a notorious offshore destination known as Commonwealth of Dominica. The problem with this region is that it does not regulate its forex markets in any way, due to which it has become a hotbed for scams. Any kind of registration or licensing from that region does not make a difference because there are absolutely no rules and regulations to be followed. A decent broker would opt to get registered in licensed in a well-reputed area instead of an offshore destination, so this should give you an answer.
Go over the Terms and Conditions
When you are digging in deep into the broker, you should make it a priority to check their Terms and Conditions as well. After all, this will tell you what kind of fees they will charge from you and the policies you will be expected to follow. It can help you decide if the brokerage falls in the scam or legitimate category. Here as well, you will find further proof that Trust Pixs is not an authentic platform because their Terms and Conditions have malicious clauses.
First off, Trust Pixs is offering trading bonuses to their clients and this is a big problem because these bonuses are usually prohibited in regulated jurisdictions, primarily because they have outrageous conditions attached to them. When you check the Bonus Policy on the Trust Pixs’ website, you will notice that they mention some terms and conditions will be applicable.
Moreover, it will also become obvious that Trust Pixs has not disclosed these terms and conditions and this a problem. Most of these are designed to prevent traders from making withdrawals and it is highly likely that this broker is the same, due to which they have chosen to not disclose them beforehand.
Look at the leverage
Another important aspect of a broker that deserves your attention is the levels of leverage they offer to you for trading. You should definitely check out the leverage because it affects your trading ability in the long run. A look at the leverage available at Trust Pixs shows that they offer levels of 1:500 and in the case of special clients, it can go as high as 1:1000.
While some people might be attracted to such high leverage levels at Trust Pixs, you have to remember that these can be very dangerous. The risks are equally high, due to which most regulated jurisdictions do not allow brokers to offer so much leverage and have imposed caps on it. The fact that you are given such ratios here is primarily to draw you to the platform.
Assess the trading platform
Checking the trading platform of a broker is also a must because this is the primary feature that affects your trading experience. The fact that Trust Pixs offers the MT4 trading platform is a bit reassuring because this is considered as one of the top trading solutions in the market. The problem is that when you take a close look, you will come across a major problem.
As it turns out, the trading platform that you will find at Trust Pixs is actually a stock distribution of MT4 and it has absolutely nothing to do with the broker. Instead, it has a web-based trading platform that doesn’t have much to offer like the industry-standard MT4, which is well-known for its automated trading features.
Take a look at payment methods
It is also a must to know what payment methods are supported by a broker because you want to be able to make payments easily and conveniently. You will discover that Trust Pixs offers support for wire transfers and Bitcoins on their platform and this is a big concern. It is because both these payment methods are final and permanent. Unlike credit cards, they don’t come with the option of a chargeback.
This means that if you want to get your money back in case of a scam, you cannot do so because these methods do not give this option. Also, Trust Pixs has added bitcoins as a deposit method, which is a common tactic of scammers because crypto payments are anonymous and permanent.
At the end of the day, you can easily determine that Trust Pixs is a scam broker and nowhere close to legitimate.