An investor who takes part in trading operations at the stock exchange invests not only his time, but also his capital. Therefore, it is very important to ensure cooperation with a reliable and honest broker. If a trader has chosen Traders Trust as a partner, his money is at great risk. In our review, we will tell in detail why this pseudo-brokerage project has gained the notoriety of a financial scammer and it is better to avoid it.
Here's a brief informational synopsis. The broker himself says that he offers his clients the services of trading on the foreign exchange market, but this is a blatant lie. He just lures investors to cooperation with loud promises.
Alas, these beautiful slogans and hypes have nothing to do with reality and truth. In reality it is just another low-level project of swindlers, which was created in order to lure away as much money of investors as possible, without giving anything to its clients in return - neither profit, nor even returns of the earned money.
The brokerage kitchen actively cheats users out of their money. Especially affected by the scammers are naive newcomers who have no experience in recognizing scammers yet. Such traders are in the risk group when they meet the Traders Trust which is definitely not to be trusted.
Types of trading accounts offered Traders Trust
There are several types of trading accounts (Classic,PRO,VIP), including a free DEMO-version.
The minimum starting deposit is set in the Classic plan at $50 USD.
If there is 0% commission for this trading account, the rest, for example, have an additional fee. So in the PRO plan the broker takes an additional commission of $3 per side per standard lot. The VIP plan has a commission of $1.5 per side per standard lot.
Most likely the absence of the fee in the Classic plan is a scammer's publicity stunt or they only need at least $50 startup fee, essentially a symbolic amount for the trader. However, this will allow the broker to reach more investors, who are more convenient to steal from with impunity: few people will arrange the proceedings for the stolen $50. This is the calculation of the Traders Trust scammers, as in many other analogue companies.
Traders Trust Trading conditions
The Traders Trust project conditions are good only in advertising. In fact, most of the declared functions, bonuses and options don't work or work partially.
The broker offers the MT4 platform, popular among online traders.
Users can also use the mobile version of the trading platform on a variety of devices that run on Android and iOS.
On the one hand, it is very convenient, because now most people simply do not let go of their smartphones or do not take their attention away from their PC monitors. On the other hand, the creators of the Traders Trust want to "tie" more clients to their accounts.
One can execute a minimum trade of 0.01 Lot at Traders Trust. Indicators may vary depending on the plan selected.
Whatever the heads of the platform write on the pages of their official site, in most cases, the information is false.
It is simply unrealistic to withdraw money, accounts are closed without warning. By the way, this can happen even during a trading session. Thus, the scammer steals money from his own clients, and the negative reputation, low rating and crowds of deceived investors do not seem to bother him. After all, tomorrow new "victims" will believe his advertisement and willingly bring more money!
Traders Trust Licenses
Like most modern scammers, Traders Trust prefers to hide and tries to avoid responsibility as skillfully as possible. For this reason, this brokerage project indicates its address with a location in Cyprus, in other words, in an offshore zone.
In fact, it is a fake. In reality it is a real quest to find the office of this company.
The deceived traders are unlikely to go there with a trip and a lawsuit. This is the calculation of the cheaters, who hide behind a mask of brokers.
Of course, everything is clear with Traders Trust - you should not trust this company. However, in order not to be unfounded, we will definitely check their license, that is an official permission to conduct brokerage activities in particular and the provision of financial services in general.
Since Traders Trust refers to Cyprus on its official website, let's turn to the data of the relevant financial regulator, CySec, to check whether the object of our review has a license.
Traders Trust is licensed in Cyprus, but a broker that is associated with offshore zones like Traders Trust is a very unreliable partner. Such an intermediary should not be trusted with your financial well-being. All the documents and even the facts of money transfers are fictitious; most transactions are accomplished through front men. This is done in order to lengthen the financial chain and confuse those who suddenly decide to look for the "ends" of the recipients.
Let's look at the domain of this site traders-trust.eu. This is the information we were able to get: traders-trust.eu
Almost all data is hidden. There is no date of registration, re-registration, etc. The right holder deliberately wants to remain invisible for deeper inspection, as well as to hide his history.
As a rule, this is done by those who are interested in numerous fly-by-night projects without a past and with a vague future, the purpose of which is to trick customers for money.
As for the user agreement, yes, the Traders Trust enters into an agreement with its traders, but it is rather nominal and does not provide any legal protection or financial security for the investor: it will not help protect the traders' money. The reason: the absence of a legal entity, as such, because even the presence of a license issued offshore is a phantom protection. It is not clear to whom to send a claim in case of going to court. Working with the trading platform at traders-trust.eu, investors act only at their own risk, with a high probability that financial losses can not be avoided, and they can only complain on the Internet in forums amongst similarly numerous deceived clients.
Traders Trust Reviews online
The broker itself has a high rating on the site, saying that the figures are based on the reviews of clients.
We do not verify it in any way, but all the reviews are more like complimentary custom articles, which does not allow us to make an objective assessment of the broker. So, if the official website of the company Trader's Trust is uninformative and the resource is better described as an advertisement and empty, the extensive information about the project can be obtained from reviews, left by real traders on thematic forums, in social networks or on third-party sites. Clients, the vast majority of which have already become former, disappointed in this pseudo broker, in one voice recommend to abandon acquaintance and cooperation with the Traders Trust scam.
As it is already clear, most of the reviews are negative.
People who were "lucky" to encounter this fraudulent brokerage project in different languages tell sad stories about the tricks of the crooks who are behind the Trader's Trust.
For example, ex-clients warn that as soon as a trader's money enters a Traders Trust account the swindlers act as if it is their financial gift: they are not going to allow withdrawal. It cannot be otherwise, since it is the only result of cooperation with the brokerage kitchen.
Even if this miracle happens, you will have to wait not for a day or a week, but to be patient for months.
Trust is a typical financial scam and it is better not to get into it, it is very expensive and nerve-racking to get acquainted with such companies.
Traders Trust scammers are accused of simply practicing "squeezing" money from their own clients. Few people have problems at the start, but as soon as the trader starts to make a profit, the broker immediately brings a lot of problems to him, and in the end he takes the money anyway.
In addition to the fact that withdrawal does not work on the Traders Trust site, it is impossible to get help from the support service. On the website, the broker promises that the consultants 24\7 will promptly answer any trader's questions and come to help quickly, but in reality this is not the case at all.
Traders write that they face the fact that the broker deliberately raises spreads right in the middle of a profitable transaction. The support service in this case simply ignored the client's request.
In general, as soon as the questions are related to the withdrawal of funds or the correspondence of the information on the website, Traders Trust simply stops communicating with the client and then blocks his account, i.e. erases the problem client from the platform.
Safety and security of funds with Traders Trust
If you are a potential investor and you came across Traders Trust Company on the net, just pass by and don't trade on this site. This is a typical scammer, an offshore scammer for money. The unfairness of such cooperation is evidenced by hundreds of reviews in the network, the disappointment of numerous deceived investors who failed to withdraw their money from this site and obtain justice from the relevant offshore regulator.
Just get more information about them and keep your money safe.