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No valid regulatory information, please be aware of the risk!
Note: For some unknown reason, we cannot open TrustFXs official site (https://trustfx.io) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.
General Information & Regulation
TrustFX is allegedly a forex brokerage registered in Switzerland that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:50 and spreads from 0 pips on the MetaTrader4 and web-based trading platforms, as well as a choice of four different live account types.
As for regulation, it has been verified that TrustFX does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.42/10. Please be aware of the risk.
TrustFX advertises that it offers access to a wide range of trading instruments in financial markets, including over 50 forex currency pairs, as well as lots of CFDs on precious metals, oil, commodities, bonds, stocks, 14 indices and crypto coins including Bitcoin, Ethereum, etc.
TrustFX claims to offer four types of trading accounts, namely Account Starting, Account Development, Account Progressive and Investment Account. The minimum initial deposit amount is $250 for the Account Starting account, while the other three account types have much higher minimum initial capital requirements of $2,000, $5,000 and $20,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Account Starting account can experience a leverage of 1:10, the Account Development holders can have a leverage of 1:25, while the Account Progressive and Investment Account members can enjoy the maximum leverage of 1:50. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
TrustFX boosts that the spread starts from 0 pips, however, as we checked on its web-based trading platform, the benchmark EURUSD spread was fixed at 3 pips, while on the demo MT4 account, the spread was just 0.2 pips.
Trading Platform Available
Platforms available for trading at TrustFX are the worlds leading MetaTrader4 and web-based. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
It turned out that TrustFX accepts payments only with VISA, MasterCard and crypto coins like Bitcoin, Dash, Ethereum and Litecoin. The minimum initial deposit requirement is said to be $250, while there is no mention of what the minimum withdrawal amount is.
Bonuses & Fees
All trading bonuses come with a minimum trade volume requirement, which in the case of TrustFX is $20 million for every $1000 accepted as a bonus.
In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.
TrustFXs customer support can be reached by telephone: UK +442038076217, CH +41615881304, RU +74996091513, +74993505130, email: email@example.com. Company address: Rue du Rhone 14, 1204 Geneve, Switzerland.
Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
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