TRMarkets: intermediary reviews, legal base verification
Brand TRMarkets: analysis and review
TRMarkets guarantees support for traders and aims to become a respected partner in the financial sector. Reviews about it on the Internet are extremely rare, so to make a complete assessment, it is necessary to analyze the availability of documents from this brokerage company and study its trading conditions. Only these steps will allow to make an informed decision about cooperation, eliminating the risk of falling victim to fraud if the company turns out to be dishonest.
Assessment of the TRMarkets Website
Despite the multilingual nature of the TRMarkets site, the translation is so unsuccessful that it would be better if it didn’t exist at all. The information is presented extremely superficially, there is no specifics about the duration of market activities or the company’s founders. Instead, there are numerous flashy promises and statements about high ideals.
Research of the domain registration date through the special whois service revealed that the site was created in 2020. The lack of reviews until recently is explained by the fact that there is no information about trmarkets.com in the web archive. The site remained inactive for a long time without visitors.
Legal Foundations
According to the data, the company is managed by Marketing Future LTD, registered in the UK. However, the broker does not provide any supporting documents. The address listed on the trmarkets.com site actually belongs to Deutsche Bank AG (Great Winchester St, London EC2N 2DB, United Kingdom).
For the lawful provision of brokerage services and working in interbank markets, TRMarkets should have obtained a license from the regulator in its jurisdiction (FCA in the UK). However, a check of the regulator’s register showed that TRMarkets does not have a license. The company does not honestly represent itself in a legal format.
Furthermore, the User Agreement notes that the company operates according to offshore norms (under the legislation of Saint Vincent and the Grenadines).
Considering the Russian-language TRMarkets site and reviews in the Russian-speaking segment of the internet, it can be assumed that the company provides services in Russia. Such actions require the registration as a legal entity, joining a self-regulatory organization, and obtaining a license from the Central Bank of the Russian Federation. Obviously, the project authors, like many other financial fraudsters, disregard legislation.
Based on reviews, in case of fund loss, the regulator will not be able to help, as TRMarkets is a fictitious organization.
Commercial Offer
The TRMarkets site claims that the company offers access to over 500 instruments, including:
- major Forex currencies,
- global indices,
- commodities,
- stocks,
- cryptocurrencies,
- precious metals,
- ETFs.
A demo account for safe testing of the trading platform without risking personal funds is not provided. Users have to invest their own funds immediately. TRMarkets does not provide descriptions of trading accounts, and traders claim in their reviews that scammers personally engage in fraud and scam for money. The cooperation terms section is empty, except for the loading page and the names of account types.
There is no information on spreads, commissions, and swaps. However, it is known that a leverage of up to 400:1 is available on the platform! This figure clearly does not comply with British rules. Local regulators forbid setting such credit leverages above 30:1.
Signs of fraud include:
- promises of generous rewards. Respected regulators are against bonuses, which they consider to be akin to casinos,
- promotion of actions through affiliate programs. Fixed commissions are promised for each new client.
User reviews indicate that all these offers are bait for beginners. The fake broker has no intention of working honestly and paying out profits.
Real User Reviews
Considering that the fraudulent project TRMarkets was recently launched, there are barely any reviews about it, however, all of them are expressed negatively.
Review:
Try to avoid!!!
They demanded excessive fees and taxes for processing the withdrawal, but never paid out. The manager assigned to me instantly disappeared when I rejected another absurd fee. I realized I was deceived, so I sought help and got it through a refund service. Experienced lawyers took decisive action to get my money back.
Review:
Unmanageable
The uncontrollable broker attempted to withdraw money from my account and did not process the withdrawal request, avoid it. I was deceived, but the money was recovered thanks to professionals. TRMarkets is not trustworthy when it comes to money and personal data.
Methods of Fraud in TRMarkets
TRMarkets targets newcomers who do not deeply study the trading conditions and do not verify legal information. They are simply promised the moon, high leverage, and high profits. When it comes time to withdraw profits, they start demanding payment of huge sums.
And even if the client falls for the scammers’ tricks and meets all the requirements, they will not receive their money. The scammers will simply close access to the account and stop responding. Given the counterfeit nature of the company, it will be extremely difficult to reclaim funds and seek justice.
Summary Expert Review
After an independent assessment of the website and cooperation terms, analysis of legal documents, and reviews, it becomes clear that TRMarkets is another financial scam. Scammers launched it solely to deceive trusting citizens. Be vigilant, do not fall for their tricks, or you risk losing every penny.