Traders Trust Review
Traders Trust is a Global Forex broker which focused on STP/ETN services. These services have been an important move in the Forex Industry. Traders trust has spread its services to other markets as well, offering the retail investors Forex trading. Their additional tools include Live Spreads, Historical Data and economic Calendars. However, in this review we are going to look into the details of Pros and Cons of this Broker.
About Traders Trust:
Traders trust is a Cyprus based Broker which was established in 1998 by a Financial Service Provider known as TTCM (Traders Trade Capital Market). It provides all the STP trading norms and enables the users to access Forex, Indices, Commodities market and metals. This broker involves trading in over 70 instruments from different kind of market including commodities and cryptocurrencies. Traders Trust is one of those trading firm which is CySEC (Cyprus Securities and Exchange Commission), licensed under the European Markets. CySEC is one of the fastest growing legal organisation which believes in continuous modification of their framework according to EU regulations.
Traders Trust comprises of 3 accounts. First one is the Classic Account where the minimum required deposit is $50 with spread of 1.5 pips and no commission. Second one is the Pro Account where the minimum required amount is $2000 with spread of 0 pips and per lot commission of $3. Third and last is the VIP Account where the minimum required deposit is of $20000 with spread of 0 pips and per lot commission of $1.5. Traders Trust provide their clients with MT4 trading platform which is the most used and downloaded trading system. MT4 here, is also supported on Android phones and iOS devices to make it convenient for the users to know about the analytical tools and back-tracking. However, it provides same trading experience as the desktop/ PC version. Since, it is an STP (Straight through Processing) service, spreads are quite competitive and tight.
Traders Trust provide a new set of services and experience for the new comers such as winning tactics and frex terms. It also offers the live and demo accounts for the variety of needs of the clients and the payment options involves Credit cards, Skrill, Bank transfers etc. which gets processed in within 6 hours. The major disadvantage of this broker is it provide the limited range of instruments which restricts the learning of the system to their clients. Also, their products involve high level of risk, creating a possibility for the client to lose all their funds.
Is Traders Trust Scam or Legit?
According to researches, Traders Trust cannot be stated as Legit Broker because it follows all the International money Laundering laws which can create conflicts with the clients and traders who are wishing to opt for different payment methods as the fees charged by them is expensive for payment methods such as Neteller. It can not be relatively suitable for all the retail investors to have an expensive Forex brokerage account. Traders Trust is not FCA regulated and offers a very limited range of instruments, creating a limitation of the services to the clients.