Review of the Cypriot broker Traders Trust: reviews of fraudulent activities
Traders Trust: review of cooperation terms
Traders Trust – an outstanding CFD broker from Cyprus that initially appears trustworthy. However, we have identified a deterioration in the company’s reputation online. For this reason, our group of experts has decided to conduct a detailed analysis of the trading conditions and legal documentation provided on the traders-trust.com website. We also recommend reviewing client feedback before investing with Traders Trust.
Overview of important broker information
Cypriot CFD broker Traders Trust is part of the solid financial-investment structure TTCM Traders Trust Capital Markets Ltd. Founded in 2009, the company is registered in Limassol, Cyprus, with its main office located at 56 Theodorou Potamianou Aprodite Court, 4th Floor, Limassol, 4155 Cyprus. Despite being an international broker, Traders Trust primarily focuses on serving traders from Russia and nearby countries.
The company’s operations are overseen by the FCA and CySEC commissions. However, it is worth noting that unlike the FCA, CySEC issues licenses to dishonest institutions. Compliance with MiFID appears to be only a nominal commitment. Many platforms claim to adhere to MiFID standards, but this does not necessarily make them more reliable.
Traders Trust’s trading opportunities center around using STP with direct access to interbank liquidity and no intermediaries. Despite the advantages of a white-label broker, it is essential to carefully review all trading conditions. While order execution is fair, trading might not be as profitable due to commissions, spreads, or conversion restrictions. We will also analyze client feedback to determine whether Traders Trust fulfills its obligations.
Cooperation conditions with Traders Trust
To start trading, a minimum deposit of $100 is required, which is considered acceptable. However, weak cooperation terms and unfavorable trading offers make any investment risky.
The broker offers a wide range of trading instruments: CFDs on currency pairs, metals, stocks, and oil products, with the total number of assets around one hundred. Traders Trust allows scalping and automated trading, so there are numerous trading robots available on the website.
The main issue highlighted in client reviews is the high spreads (starting from 2.8 points), making trading on traders-trust.com less profitable compared to competitors. The leverage is also quite high, up to 1:500, whereas the optimal leverage is usually lower. CFD quotes are updated in real-time, and the website provides information on cryptocurrencies, particularly Bitcoin and Ethereum.
Funding the account can be done in dollars, euros, and rubles through various methods, including bank transfers, credit cards, and electronic payment systems. Withdrawal of funds requires a lengthy identification process. Trading on the platform is available to all except citizens of the US, Canada, New Zealand, Iran, Iraq, and other countries.
Reviews about traders-trust.com
Most reviews about this broker are negative, criticizing the unfavorable conditions, high spreads, and accusing the company of fraud and account blocking.
Operating scheme of CFD broker Traders Trust
Traders Trust can be defined as a fraudster working on a standard scheme. According to client feedback, clients are initially asked to deposit $100 and are encouraged to increase it with positive results. However, withdrawing profits or getting their funds back is impossible, and clients also complain about the inability to communicate with managers.
In addition, the Russian domain ru.traders-trust, which offered broker services, is currently inactive, likely due to fraud allegations from clients.
Conclusion
An investigation into CFD broker Traders Trust revealed its negative aspects: unfavorable cooperation conditions, lack of localization, and bonus programs for small investors. We recommend avoiding cooperation with this intermediary and focusing on more reliable companies.
Author: Sasha Chaika