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Traders Trust Review

AN OVERVIEW OF Traders Trust

 

Finding a reputable Traders Trust review local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth review regarding Traders Trust to help you make an informed decision before opening your account or trading on their platform.

 

 

INTRODUCTION

Traders Trust has more than 15 years of experience in the banking and financial service industry, having worked at well-known international financial institutions.

Added to this, clients can have confidence in the company, as Traders Trust complies with the European Union Markets in Financial Instruments Directive (MiFID) and is Authorised and Regulated by the Cyprus Securities and Exchange Commission.

The broker’s operational aim is to provide investors with a choice of a highly advanced, state-of-the-art, and user-friendly online trading platform that will accommodate the investment needs of even the most demanding currency traders.

Furthermore, the broker differentiates itself by providing clients, in full transparency, the tightest interbank prices with an excellent and reliable customer service at all times.

Intuitive and versatile, our Traders-Trust MT4 platform offers broad functionality to the Forex trader and ease of use for those new to this broad and exciting Forex trading market.

 

HISTORY AND HEADQUARTERS OF TRADERS TRUST

TTCM Traders Trust Capital Markets Limited, more commonly referred to as Traders Trust, is an incorporated company founded by a team of financial professionals with an excellent working experience and knowledge in banking, currency trading, and e-trading innovation.

 

AWARDS AND RECOGNITION

When a broker has won numerous awards and indicates such on their website, it often instils more confidence in the broker as an industry leader and provides it with a good reputation in its solutions and services provision.

Traders Trust does not list any awards on its website, and while this may reflect the broker’s standing within the industry, it does not detract from the many features which the broker offers.

 

TRADERS TRUST ACCOUNTS

 

TYPES OF ACCOUNTS AND ITS FEATURES

A Forex account is a trading account that traders hold with a specific broker with the purpose of trading financial instruments.

Brokers offer a variety of trading accounts, or they may only offer a single account, in which they provide certain trading conditions that appeal to a variety of traders according to their trading needs and objectives.

The number and the type of accounts that traders are offered will vary from one broker to the next and therefore it is imperative for traders to know what their trading needs, and objectives are, and why they should choose a broker according to that, amidst other factors.

Traders Trust offers three live trading accounts, consisting of the Classic, Pro and VIP Accounts. The features of these accounts are discussed in more detail below.

Classic Account

This account is ideal for clients who want to trade with zero additional commission and only an all-inclusive spread starting from 1.5 pips.

With a minimum initial deposit of $50, the classic account is accessible for beginners that will trade with no restriction. Absolutely all EAs and trading strategies are welcomed since no limits are put on stop and limit orders, allowing you to set as close as the entry price as you want.

Pro Account

The pro account is designed for more experienced clients who want to trade with raw spreads. You will be charged an additional $3 per side per standard lot.

The execution remains 100% STP, allowing trading with any strategy or robot and closing of the trade with no time limit as close as the entry price client requested.

VIP Account

The VIP account not only offers you better trading conditions with only $1.5 per side per standard lot; but also, the highest standard of service with a dedicated manager to handle your demands. This account type is tailored for clients aiming to trade with tight raw spread and low commission.

With an average execution time under 100ms and absolutely no trading restriction on stop and limit orders, the VIP account owners will have the comfort to trade with any strategy or EA they want.

 

DEPOSITS AND WITHDRAWALS

When evaluating brokers, the ease with which deposits and withdrawals can be made is another imperative factor to consider.

Regulation plays a key part where client funds are concerned as funds which are kept in segregated accounts must be available for withdrawal at any given time when a request is made by the trader and subsequent owner of the trading account.

The minimum deposit amount required to open a broker account with Traders Trust is $50. This is a very low minimum deposit requirement when compared with most other brokers in the industry.

That said, this low deposit only applied to traders opening a Classic Account. Those wishing to open either a Pro or VIP Account will have to pay a minimum deposit of $2000 $20 000 respectively, which is very high.

Traders Trust’s withdrawal policy is that funds equal to the amount deposited must go back via the same method used to deposit.

Visa/MasterCard withdrawals take priority over other methods with the most recently used card being refunded first. Profits exceeding the amount deposited can be withdrawn via alternative methods if the methods are registered to the client.

The broker processes all withdrawal requests within one working day (during normal office working hours 0900 – 1800 GMT+3 Monday-Friday). Withdrawals made outside of these hours will be processed on the following working day.

 

COST AND FEES, COMMISSIONS AND SPREADS

When evaluating a broker, it is imperative to look at the fees which are charged. These often depend on numerous factors including the spread, commissions, and margin requirements.

The spread is the difference between the bid and the ask price, which is expressed in pips, which is the smallest increment that a price can move either up or down.

A margin requirement is the amount of capital that the trader must put down at the start of the trade, or that they must have available in their trading account, as collateral for the trade. This amount is often lowered substantially when leverage is applied.

The Traders Trust spread list is as follows:

  • Classic Account: from 1.5 pips
  • Pro Account: from 0 pips
  • VIP Account: from 0 pips

As can be seen from the above, the spreads on the Classic Account are fairly average, but not the most competitive in the industry. Spreads are competitive on the Pro and VIP Account, but these can only be accessed with a very high minimum deposit.

That said, though the Classic Account does come with higher spreads, it also includes trading free of commissions. The Pro Account and VIP Account come with commission charges of $3 per lot and $1.5 per lot respectively, which is still competitive.

 

LEVERAGE

Traders Trust offers a maximum leverage of 1:500, depending on the account type and your trading status. Traders operating within the EEA will fall within regulatory restrictions regarding leverage and will likely not be able to trade on a ration higher than 1:30.

Traders should contact the broker’s support team for more information regarding accessible leverage ratios.

Leverage is a tool which allows the trader to open larger positions in addition to providing the trader with larger exposure to the market in which they are trading regardless of the trader’s initial deposit.

Leveraged products, such as Forex, increases the potential profits of the trader, but it also increases the risks and subsequent losses that the trader may incur.

Leverage is expressed as a ratio, for instance 1:1, 1:50, 1:100, 1:500, and even up to 1:3000. For instance, should a trader have $1,000 in their trading account and they apply a leverage ratio of 1:100, they can control a position of $100,000.

Margin is the amount required at the start of every trade which is collateral for any credit risks which may arise while trading. It is expressed as a percentage of the position size and traders must ensure that they have adequate funds to cover this requirement.

For instance, should there be a 1% margin requirement on a position of $1,000,000, the trader must cover a margin requirement amount of $10,000. The margin requirement must be equal to or more than 100% for the position to be opened.

 

BONUSES

Traders Trust does not offer any type of broker bonus scheme for clients who choose to register for a real account, such as a welcome bonus, as well as any other type of additional promotions, such as a trading bonus or a referral bonus.

This is partly because the broker has not based any degree of its growth on a broker bonus scheme, but largely because the broker is regulated by the Cypress Securities and Exchange Commission (CySEC).

Forex brokers often lure new traders with offers of deposit bonuses. This can be useful, but it is essential to discern what the conditions are to benefit from the bonus.

The bonus usually compensates traders for choosing a certain broker, since once the account is active, the trader will have the same expenses as any other. The bonus usually only starts giving some expenses back to the trader once the person has proved himself as an active trader.

Hence, although no deposit bonuses are a fantastic way to help you start trading, the terms to benefit from it often require trading with such a high volume before you can withdraw profits, that it may not be worthwhile.

The European Securities and Markets Authority (ESMA) has also recently placed investor protection measures on the marketing, distribution, or sale of CFDs.

This prevents brokers from providing the retail client with a payment, monetary or excluded non-monetary benefit in relation to the marketing, distribution, or sale of a CFD, thus ruling out the offering of such bonuses.

 

TRADING PLATFORMS, SOFTWARE, AND ITS FEATURES

A trading platform is a type of software which is used through which trading can be executed. Each broker has its own preference in which platforms it supports and often brokers offer the use of their own proprietary trading platforms.

Traders Trust provides the highly regarded and ever popular MetaTrader 4 platform, which is feature rich with advanced technical indicators, analytical tools, and ultra-fast execution.

 

MARKETS, PRODUCTS, AND INSTRUMENTS

Traders Trust provides access to Forex, metals, indices, and commodities. A detailed breakdown of each asset category can be found on the broker’s website.

Most brokers offer all or some of the following market instruments for trading:

Forex:

Forex trading, or currency or FX trading, involves the currency exchange market where individuals, companies and financial institutions exchange currencies for one another at floating rates.

Commodities:

As with currency exchange markets, commodity markets offer trading in contract-based tradable goods.

Indices:

Equity or stock indices can represent a specific set of the largest companies of a nation or they can represent a specific stock market. It is actual stock market indexes which measures the value of a specific section of a stock market.

Precious metals:

This involves the trading of gold, silver and other precious metals as hard commodities that are contract-based tradable.

Energy:

The high volatility of energy prices due to political, environmental and several other factors, is a typical feature of this product, making it a popular trading choice.

Cryptocurrencies:

Tradable cryptocurrencies include the following:

Bitcoin (BTC) is the digital currency with the largest market capitalisation and price levels and dominates 50% of the total crypto market cap.

Litecoin (LTC) is similar to Bitcoin but differs in terms of scalability.

Ethereum (ETH) is the second largest cryptocurrency after Bitcoin and allows developers to create smart contracts on a platform.

Ripple (RPL) is popular among big banks with the Ripple network a next generation real-time gross settlement system.

Bitcoin Cash (BCH) was created as an updated version of the blockchain with different rules.

 

 

SAFETY AND REGULATION

When choosing a broker, one of the benchmarks against which to measure safety and client fund safety and security, is to establish which regulating authorities oversees the operations of the broker.

Traders Trust comes well regulated by the Cypress Securities and Exchange Commission (CySEC), one of the most reputable regulatory agencies in the industry.

CySEC provides for several client protection measures, including segregated bank accounts and the participation of the broker in a compensation scheme to cover clients in the case of broker insolvency.

The organisation further monitors for any signs of financial misconduct and subjects all participating brokers to regular audits.

 

CUSTOMER SUPPORT

This is a crucial point when evaluating potential brokers to trade with as the broker must ensure that their traders have a variety of ways in which to contact support should they have queries, questions, or issues.

Customer support at Traders Trust is provided through email, online query submission and telephone. The lack of an online chat function might make it longer for pressing client queries to be resolved.

 

EDUCATION AND TRAINING

Education refers to all the learning material and tools offered by brokers which is imperative for traders in their trading activities, especially beginners. It provides traders with the necessary knowledge that they will need to become successful traders.

Unfortunately, Traders Trust does not offer any educational resources, and beginner traders would have to look elsewhere to hone their trading skills before signing up with this broker.

 

RESEARCH

To assist in their trading endeavours, brokers offer traders with a variety of trading tools which can be used to refine their trading.

Traders Trust offers a decent selection of research tools, including an economic calendar, trading calculators, historical data, and VPS hosting.

 

SUMMARY

Traders Trust is an established Forex broker that is well regulated by the Cypress Securities and Exchange Commission (CySEC).

The broker offers attractive trading conditions with a good variety of assets that can be traded on the advanced and highly functional MetaTrader 4 platform.

The broker also offers excellent research tools for an enhanced trading experience; however, the lack of any real educational material will be disappointing for beginner traders.

 

DISCLAIMER

Traders Trust warns potential customers that Forex and CFDs trading carries a substantial risk and may not be suitable for all investors.

Before deciding to trade with TRADERS TRUST, potential traders are advised to carefully consider their investment objectives, financial situation, needs and level of experience before investing money they cannot afford to lose.

Traders Trust warns that margin trading involves the potential for profit as well as the risk of loss.

Movements in the price of foreign exchange and commodities are very unpredictable, hence Traders Trust cannot guarantee a maximum loss that a trader may suffer.

 

TRADERS TRUST AT A GLANCE

Broker’s Name Traders Trust
Headquartered Limassol, Cyprus
Year Founded 2009
Regulating Authorities CySEC, FCA
Countries not accepted for trade Australia, New Zealand, Canada, Iran, Iraq, North Korea, USA, Cuba, Syria, Sudan, Afghanistan, Guyana, Lao People’s Democratic Republic, Uganda, Yemen, Venezuela, and Puerto Rico
Islamic Account (Swap Free) Yes
Demo Account Yes
Institutional Accounts No
Managed Accounts Yes
Maximum Leverage 1:500
Minimum Deposit $50
Deposit Options ·        Bank transfer

·        Visa/Mastercard

·        Skrill

·        Neteller

·        Bitcoin

·        Bitwallet

·        PerfectMoney

·        WebMoney

·        FasaPay

Withdrawal Options ·        Bank transfer

·        Visa/Mastercard

·        Skrill

·        Neteller

·        Bitcoin

·        Bitwallet

·        PerfectMoney

·        WebMoney

·        FasaPay

Platform Types MetaTrader 4
OS Compatibility Windows, Mobile, Web, iPhone, iPad

PC and Mac OS, mobile for Android and IOS

Tradable Assets Forex, metals, indices, and commodities
Customer Support Languages English, Japanese, Spanish, Italian, French, Portuguese and Arabic
Customer Service Hours 24/5

 

FAQ

 

TRADING ENVIRONMENT

How many instruments can I trade with Traders Trust?

Traders Trust provides access to Forex, metals, indices, and commodities.

Which platforms are supported by Traders Trust?

MetaTrader 4.

Does Traders Trust offer leverage?

Yes, Traders Trust offers a maximum leverage of 1:500, depending on the account type and your trading status. Traders operating within the EEA will fall within regulatory restrictions regarding leverage and will not be able to trade on a ration higher than 1:30.

Traders should contact the broker’s support team for more information regarding accessible leverage ratios.

What spreads can I expect with Traders Trust?

The Traders Trust spread list is as follows:

  • Classic Account: from 1.5 pips
  • Pro Account: from 0 pips
  • VIP Account: from 0 pips

As can be seen from the above, the spreads on the Classic Account are average, but not the most competitive in the industry. Spreads are competitive on the Pro and VIP Account, but these can only be accessed with a very high minimum deposit.

Does Traders Trust charge commission?

Yes. The Pro Account and VIP Account come with commission charges of $3 per lot and $1.5 per lot respectively, which is still competitive.

Are there additional charges on the Islamic account?

Yes

Is Traders Trust regulated?

Yes, Traders Trust is regulated by the Australian Securities and Investment Commission (ASIC). ASIC is Australia’s integrated corporate, markets, financial services, and consumer credit regulator.

The role under the ASIC Act is to:

  • Maintain, facilitate, and improve the performance of the financial system and entities in it
  • Promote confident and informed participation by investors and consumers in the financial system
  • Administer the law effectively and with minimal procedural requirements

Is Traders Trust a recommended forex trading broker for experts and beginners?

Yes, Traders Trust is regulated by the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).

What is the overall rating out of 10 for Traders Trust?

9/10.

 

ACCOUNTS

What is the difference between a demo and live trading account?

A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring of both the broker’s offer and the trading platform.

A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.

Does Traders Trust offer a demo account?

Yes, Traders Trust offers a free demo account to all new traders.

For how long is the demo account valid?

The demo account does not appear to expire.

Does Traders Trust offer the option of an Islamic Account?

Yes.

Which live trading accounts does Traders Trust offer?

Traders Trust offers three live trading accounts, consisting of the Classic, Pro and VIP Accounts.

What are the available deposit currencies for a live trading account?

Traders Trust accepts USD, EUR, JPY, CHF, and GBP. Traders depositing in smaller currencies will likely incur conversion fees.

 

DEPOSITS AND WITHDRAWALS

What is the minimum deposit for Traders Trust?

The minimum deposit amount required to open a broker account with Traders Trust is $50. This is an exceptionally low minimum deposit requirement when compared with most other brokers in the industry.

That said, this low deposit only applied to traders opening a Classic Account. Those wishing to open either a Pro or VIP Account will have to pay a minimum deposit of $2000 $20 000 respectively, which is very high.

How do I make a deposit and withdrawal with Traders Trust?

Traders Trust provides the following popular deposit and withdrawal methods:

  • Bank transfer
  • Visa/Mastercard
  • Skrill
  • Neteller
  • Bitcoin
  • Bitwallet
  • PerfectMoney
  • WebMoney
  • FasaPay

Does Traders Trust charge withdrawal fees?

No, Traders Trust does not charge deposit or withdrawal fees.

How long does it take to make a withdrawal?

The broker processes all withdrawal requests within one working day (during normal office working hours 0900 – 1800 GMT+3 Monday-Friday). Withdrawals made outside of these hours will be processed on the following working day.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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