Traders Trust Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this Traders Trust Review.
Traders Trust Review
Traders-Trust provides a single type of trading account – a general STP one. This account has a requirement for a minimum deposit of USD 100, which is low enough to make happy new and inexperienced traders who don’t want to risk large amounts. What is more, micro lots are available for trade.
This broker does not offer swap-free (Islamic) accounts to clients of Islamic belief.
The Company. Security of Funds
Traders-Trust is a forex broker, offering online trading in currency pairs, Contracts for Difference (‘CFDs’) and precious metals within STP trading environment.
TTCM Traders-Trust Capital Markets Ltd., doing business as Traders-Trust, is a Cyprus-based company, which is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).
CySEC forex broker regulation is not among the world’s tightest, but surely is one of the most popular in Europe. There is no cap on leverage, nor ban on hedging. All CySEC license holder are authorized to provide financial services throughout the EU under the MiFID Passporting Regime.
In order to achieve a license from the Cypriot watchdog, forex brokers have to hold at least €1,000,000 as a proof of financial stability. Moreover, the CySEC applies a compensation scheme as additional guarantee to clients’ funds. All CySEC-regulated companies are members of the Investor Compensation Fund, which protects clients’ funds in case of company insolvency up to £20,000 per person.
Minimum Initial Deposit
In order to open an account with Traders-Trust, traders have to invest at least $100. Such minimum initial amount is average. Other Cyprus-based brokers, like FXTM and XM, demand just $5 from its clients as a start for their Cent/Mini accounts.
Spreads & Commissions
Traders-Trust offers variable spreads. For the EUR/USD pair, it quotes as typical a spread of 1.8 pips. Such spreads are considered relatively high, although this broker charges no commission fee.
In comparison, XM provides spreads from 1.0 pips on EUR/USD on its Standard commission-free account and Exness offers its Mini account holders average spreads of 1.0 pips on EUR/USD, no commission included. For further information, you may look up and compare real-time spreads of 15 leading brokers here.
The maximum leverage with Traders-Trust is high, reaching 1:500, which is a comparatively high ratio. Nonetheless, many Cyprus-based brokers offer even higher leverage levels: XM – up to 1:888, and Exness – up to 1:2000 (Exness is currently even running an Unlimited Leverage promotion). Here is a list of more forex brokers, offering leverage equal to or exceeding 1:500.
We advise traders to be careful when operating with increased leverage levels, as the higher leverage, the higher the risk of losses, which may even exceed initial investments.
Traders-Trust supports the industry’s standard MetaTrader 4, which is the trading platform preferred by most experienced traders. It comes in desktop and mobile versions and provides a number of technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive back-testing environment for them.
What is more, Traders-Trust has partnered with ZuluTrade and FxStat’s Tradebook in order to provide quality Copy Trading services.
In addition, MAM accounts are available to Traders-Trust’s clients. MT4 Multi Account Manager platform was designed for asset managers and professional traders looking to manage and trade several trading accounts simultaneously, in a simple and secure way.
Methods of Payment
Traders-Trust’s clients can make deposits to and withdrawals from their accounts via wide range of payment methods: credit/debit cards (Visa, MasterCard), wire transfer and e-wallet systems, such as Neteller, Skrill, WebMoney, FasaPay, OKPAY, bitcoin, Sofort banking and China UnionPay.
Traders-Trust is a Cypriot forex broker, whose strategy is to offer standardized and narrow range trading conditions: a single STP account and only one trading platform, the industry’s standard MT4.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
Traders Trust Review Conclusion
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