Traders Trust Review
Traders Trust is a Cyprus based Global broker, offering retail investors Forex Trading. It provides their clients some separate tools such as Economic Calendars, Historical Data and Live spreads. This broker involves trading in over 70 instruments from different kind of market including commodities and Cryptocurrencies. Despite all these benefits Traders Trust is not ranked among the best Forex Traders. To know about this broker lets go further in the advantages and Disadvantages of the same. Read the full Traders Trust review here.
About Traders Trust
Traders Trust was started in Cyprus in 2009 which initially focused on STP/ECN services but had come a long way in making its place in other markets as well such as in UK and Germany. Traders Trust enables the investors to access Forex, Indices and commodities markets and it is the trading company that has CySEC license. CySEC can be considered as one of the fastest growing regulatory organization in the world.
Traders Trust offers three types of accounts which are Classic Account, Pro Account, and VIP Account. Classic accounts require a minimum deposit of 50 Dollars, spreads of 1.5 pips with no commission. Pro Account requires minimum deposit of 2000 Dollars spreads from 0 pips with 3 Dollar per lot commission and VIP Account were the minimum deposit is of 20000 Dollars, spread from 0 pips and 1.5 Dollar per lot commission. MT4 trading platform, which is the number one platform and offers to access the STP account and has a decent user interface for smartphones and tablets. As it is an STP (Straight through processing) service the spreads are slightly expensive and competitive, in the region of 1.8 pips, which is approx. 0.8 pips higher side of the average STP. However, the company makes it up in leverage section where the investors can select maximum leverage of 1:500. There is also a micro trading lot which enables the investors to start trading with 0.01 lots.
Traders trust allows all kind of plans without any restrictions. The advantage of this broker is that it allows various types of payment options such as bank transfers, credit cards, Skrill, Web money etc and process it within 6 hours. The disadvantage of the Traders trust is that it does not provide the variety of platforms to trade which restricts the traders to a limited ground. The products of the broker are also traded on margin and contains the high level of risk, making it highly possible to lose all your capital invested.
Is Traders Trust Scam or Legit?
Apart from all the key points mentioned, Traders Trust does not provide any educational materials to investors which make it difficult for them to learn about the trading policies. The CySEC, in order to protect the interest of traders has devised several new policies which includes Traders Trust to restrict from maintaining its working capital or meeting its expenses by misusing their client funds. Also, it is advisable to all the traders while operating as with high leverage level there is high risk of losses. This makes the trading nature not suitable to all the traders. Therefore, it can be considered as a potential trading scam.