When you are searching for a broker to trade any financial instrument, your obvious priority is to find a trustworthy one. After all, we have all heard stories of shady and fraud brokers that ended up disappearing with their clients’ funds or were unable to provide adequate security to keep funds and information safe. You definitely do not want that and the best way to ensure it doesn’t happen is by doing your research. One of the brokers you will find in the market is TrustFxMarket, but you shouldn’t just opt for it right away. This TrustFxMarket review can help you in making a better decision.
It is smarter to go through the review first because it can save you from having to switch brokers down the road. You will be able to choose a platform that’s the right fit for you and fulfills your trading needs. As far as TrustFxMarket is concerned, it has gained recognition because it claims to be a market leading broker and is offering its services to all types of traders. A huge asset offerings, low cost pricing and state of the art technology are touted as its best features.
Who wouldn’t want to sign up on a platform that’s offering more than 5,000 trading instruments, which include commodities, forex currency pairs, indices, cryptocurrencies and equities? You add powerful trading platforms, four account types, flexible leverage and assured daily returns and the platform will be hard to resist. Sure, TrustFxMarket sounds really fantastic, but is it really? Let’s find out:
Regulation and Licensing
Unfortunately, when you take a look at the licensing and regulation of TrustFxMarket, you will come to know that it is not legitimate. In fact, it is unregulated and has a virtually anonymous website that seems to have all the hallmarks of a scam. You cannot even find a contact number listed on the website and there is no corporate address either.
Likewise, you will not find any information regarding authorization and license on their website. As a matter of fact, the website doesn’t even mention the company name behind the broker, which is a clear indication that it is not authentic. The only detail that has been mentioned on the website is that TrustFxMarket is based in Illinois, United States and that’s all.
According to the claims that you will find on the TrustFxMarket website, they give you access to the MetaTrader4 and the MetaTrader5 trading platforms. However, there is no way for you to verify their claim because they don’t offer a demo account. You would have to open a live account to actually test their platform and there is no guarantee of what you will be provided, as the website has all the markings of a scam.
Another aspect of the broker that should raise a red flag for you is the lack of information about the payment methods supported on the platform. If you take a look at some of the legitimate and renowned brokerages in the market, you will notice that they clearly mention all the payment options they provide on their platform, along with the deposit and withdrawal fees they charge. But, you will find no such details provided by TrustFxMarket. They do not disclose the payment methods you will be able to use and neither have they given any details about the fees that will be applicable.
One of the key features that set TrustFxMarkets apart from the rest of the brokers in the market is their offer of guaranteed returns. They are promising returns of 15% to 50% on a daily basis, depending on the account you decide to open with them. What is the problem? The fact is that whether it is the forex or the CFD market, none of them come without risks and anyone promising you guaranteed returns is nothing but a scam that you need to avoid.