Overall, TrioMarkets can be summarised as a trustworthy and worthwhile broker that is very competitive in terms of its trading fees (against major currency pairs). The spread is also very low and is considered average-risk.
TrioMarkets Review – 17 Key Point Quick Overview
TrioMarkets at a glance
|💬 Broker’s name||TrioMarkets|
|🏛️ Headquarters||Limassol, Cyprus|
|📅 Year founded||2014|
|⚖️ Regulating authorities||CySEC, BaFin, FCA, ACP, MiFID|
|🗺️ Countries not accepted for trade||United States|
|📒 Demo account||Yes|
|☪️ Islamic account (swap-free)||Yes|
|✴️ Institutional accounts||Yes|
|👨🏼💼 Managed accounts||No|
|🔣 Maximum leverage||1:300|
|💰 Minimum deposit||USD 250|
|➕ Deposit options||BankWire
|➖ Withdrawal options||BankWire
|📊 Platform(s) provided||MetaTrader4, Sirix|
|📶 OS compatibility||Desktop, Web, Mobile|
|🛍️ Tradable assets offered||ETFs, CFDs, Commodities, Metals, Stocks, Oil, Gold, Indices|
|💬 Languages supported on the website||French, German, Italian, Arabic, Spanish, English, Russian, and Turkish|
|💬 Customer support languages||French, German, Italian, Arabic, Spanish, and English|
|⏲️ Customer service hours||24/6|
📱 Trading Desk
📈 Total Pairs
🕒 Account Activation Time
🏛️ Visit Broker
Awards and Recognition
In the world of forex broker companies being honored with awards from esteemed organizations or publications, count much for the company’s reputation.
Although TrioMarkets is rated highly by many happy customers in personal reviews, there is no information available on the TrioMarkets homepage about any official awards received.
A forex account is a trading account held by a trader with a company like TrioMarkets that is primarily issued with the purpose of trading currencies.
Usually, the number and type of accounts that a trader can open with a broker company differ according to the country in which the brokerage operates, the country of residence of the trader, and the regulatory authorities under whose jurisdiction it operates.
Types of Accounts and Their Features
TrioMarkets offers a variety of trading accounts, from small accounts targeted at the newer traders, to alternative account options for the more experienced and professional traders.
The brokerage offers four accounts apart from the professional option. They are the Basic Account, the Standard Account, the Advanced Account, and a Premium Account. TrioMarkets also offers Islamic or swap-free accounts, which are Sharia-compliant.
Deposits and Withdrawals
The minimum deposit requirements are dependent on the account type a trader opt for and are as follows for the different accounts:
- $250 for the Basic Account
- $5000 for the Standard Account
- $25 000 for the Advanced Account
- $50 000 for the Premium Account
TrioMarkets accept Card deposits, Bank wire transfers, Neteller, Skrill, and Crypto deposits and do not charge any deposit fees.
TrioMarkets allow clients to withdraw via bank cards, Bank Wire Transfer, Neteller, and Skrill but there is a 1.5% fee applied to all withdrawals. The minimum charge for withdrawals using bank wires is $25.
The processing time of withdrawals with TrioMarkets can take from two to five working days, but this will also vary depending on the banking providers the trader uses.
Cost and Fees, Commissions and Spreads
The cost of trading depends on different factors like commissions, spreads, and margins.
The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move. One pip is 0.01 for currency pairs with JPY as the term currency and 0.0001 for all other pairs.
Margin is the amount of money required in your account to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your trading account.
Commissions are the charges imposed by an investment broker on a trader for making trades on the trader’s behalf. The level of commissions will vary between different brokers and also depends on the asset being traded and the type of service offered by the broker.
Execution-only brokers, which is a broker that does not involve in any personal investment advice and gives traders complete control over how they trade the markets, tend to have lower commissions.
While contract for differences (CFDs) trading is a form of derivative trading that enables traders to speculate on the rising or falling prices of fast-moving global financial markets, its trading on shares will incur commission.
CFD trades on other markets have no commission but do wrap a spread around the market price of a certain instrument.
TrioMarkets charges different commissions which vary between account types and swap fees are calculated according to trade size and asset, as well as according to the exchange rate at the time.
The facility that enables a trader to get a much larger exposure to the market than the amount he or she deposited to open a trade, is called leverage. Such leveraged products magnify a trader’s potential profit – but of course, also increase the potential loss.
The amount of leverage is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that a trader has $1,000 in his or her trading account and is trading ticket sizes of 500,000 USD/JPY, that leverage will equate to 500:1.
As a result of the regulatory policies that the broker must comply with, all TrioMarkets clients, irrespective of the accounts they hold, may trade with a maximum leverage of 1:30.
Traders which are eligible to hold a professional account will be entitled to get higher leverage, depending on how much they deposit.
TrioMarkets do not offer any bonuses.
Trading Platforms, Software, and its Features
The forex trading software provided by a broker company to its clients is called the platform and is used to carry out their trades.
A platform can be a multi-asset one, which means that it allows clients to not only trade forex but also other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies.
The decision about which platform to choose will depend on what a client would like to trade, therefore it will be one of the criteria when choosing a broker too.
TrioMarkets offer the trusted MetaTrader4 (MT4) platform as well as their own tailor-made version of MT4, which is called MT4 TrioXtend. Traders can use these platforms for Windows or Mac, Desktop, as well as the different mobile options.
A Multi Account Manager (MAM) platform allows traders to handle multiple accounts through one account.
Markets, Products, and Instruments
Most brokers offer all or some of the following kinds of market instruments for trading:
Forex trading, also called currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates.
As with currency exchange markets, commodity markets offer different investment opportunities for traders. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of inflation or economic uncertainty.
Equity or stock indices are actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific set of the largest companies of a nation or they can represent a specific stock market.
The trading of gold and other precious metals involves hard commodities that are contract-based tradable goods.
The high volatility of energy prices due to political and environmental factors, supply and demand, extreme weather conditions, and global economic growth is a typical feature of this product, making it another popular trading choice.
Bitcoin (BTC) is the digital currency with the largest market capitalization and price levels since its inception in 2008. It dominates 50% of the total crypto market cap.
Litecoin (LTC) is similar to Bitcoin but differs in terms of scalability. Litecoin is another very popular altcoin and LTCUSD is a fork of Bitcoin (BTCUSD), copied from Bitcoin’s code and with some alterations and launched a new project.
Ripple (RPL) is popular among big banks with the Ripple network a next-generation real-time gross settlement system. It allows instant cross-border fund transactions at very low costs.
Ethereum (ETH) is the second-largest cryptocurrency after Bitcoin and allows developers to create smart contracts on a platform.
With TrioMarkets, customers may trade a variety of CFD assets which include 60+ Forex pairs (GBP/USD, EUR/USD, USD/JPY), precious metals (Gold, Silver, Platinum), commodities (Wheat, Sugar, Crude Oil), and world stock indices (Dow Jones, Dax, S&P 500, NASDAQ).
Safety and Regulation
One of the first things a potential trader needs to establish is whether a broker like TrioMarkets is safe to trade with. One of the surest benchmarks to measure the safety of a brokerage is to establish which regulating authorities are watchdogs over its actions.
TrioMarkets is a Cypriot Investment Firm and is regulated by the Cyprus Securities and Exchanges Commission (CySEC).
CySEC offers regulatory protection to traders and investors under the European Markets in Financial Instruments Derivatives (MiFID) too, with an undeviating regulatory framework for all financial companies operating in the EU.
TrioMarkets thus has the authority and the regulatory clearances to operate across the whole European Union under a valid European license.
The European Economic Area (EEA) agreement allows TrioMarkets to offer its services and products to traders from all over the EU without any additional regulatory licenses.
In the event of any financial inconsistency, TrioMarkets will be subjected to legal and regulatory sanctions from the concerned regulatory agency.
EU regulation holds TrioMarkets accountable for its actions and the CySEC requires TrioMarkets to follow sound management principles in all its operations.
TrioMarkets is required by European laws to hold at least €1 million in operating capital and is bound by the CySEC to ensure that they are capable of meeting its clients’ debt obligations without fail at any time.
TrioMarkets is audited by the CySEC and the regulator also instructs the broker to hold clients’ funds in segregated accounts to clearly differentiate between the broker’s operating capital and clients’ trading capital.
TrioMarkets offers sound protection to its investors regarding the safety of funds against broker insolvency, as the CySEC has also developed the Investor Compensation Fund (ICF) which offers compensation of up to €20,000 in case the broker would be defaulting.
Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it.
TrioMarket’s able customer support team offers assistance to customers and is available five days a week from Monday to Friday during the hours from 09:00 to 21:00 (GMT +1).
Assistance can be obtained via a Live Chat option and a ticket form available on the website, as well as telephone calls.
TrioMarkets support team can assist in several languages including English, French, Russian, and Arabic.
Potential traders should always do as much as possible research about speculative trading before commencing to do it.
Trading with confidence and success relies heavily on knowledge and understanding of the markets, therefore research options offered by brokers form an integral part of its features when choosing the right company to trade with.
TrioMarkets offers Market News, along with an economic calendar, on the website, so that even once a trader has started trading, the person will still have access to guides to assist in his or her everyday trading.
Education and Training
Before starting to trade, potential clients of TrioMarkets should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.
If TrioMarkets’ website itself does not provide enough means, a trader should explore other information sources and means to obtain that skills and knowledge.
TrioMarkets supports beginner clients with a third-party set of eBooks and video tutorials, containing sections on the fundamentals of trading and using the MT4 trading platform.
TrioMarkets offer a demo account for the standard MT4 platform, still one of the best ways to learn the trade.
TrioMarkets can be summarily described as a company worth being tried out by new traders, knowing that it can offer them a fair range of tradable assets and fair service in terms of trading conditions. TrioMarkets is a forex broker company in Cyprus.
TrioMarkets is a Cypriot forex broker company founded in 2014 by a team of banking professionals that is based in Limassol.
TrioMarkets is a trading name owned by EDR Financial Ltd, a financial services company that is authorized and regulated by the Cyprus Securities Exchange Commission (CySEC) under license number 268/15.
With the strict regulations of CySEC which are applicable across the entire European Union, TrioMarkets appears to offer a healthy and thorough service to clients all over the world.
TrioMarkets does however not accept residents of the following countries to become clients: the United States of America, the State of Israel, The Islamic Republic of Iran, and the Democratic People’s Republic of Korea (DPRK).
TrioMarkets seems to target the more well-established and experienced traders and not really beginners.
TrioMarkets warns all potential traders that Forex and CFDs trading always carries a high level of risk and may not be suitable for all investors.
Before clients decide to trade the products offered by TrioMarkets, they are advised to carefully contemplate their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.
When traders use TrioMarkets’ margin leveraged accounts, they should maintain a sufficient level of margin to sustain their positions, since trading Forex/CFD and Options on margin carries a high level of risk.
Using a higher than necessary leverage can work against a trader as well as for him. It is always possible that you could sustain a loss of some or all of your initial investment.
While TrioMarkets usually makes all efforts to fill a trade at the price requested, trading online does not necessarily reduce risks associated with currency trading, therefore quotes and trades are usually subject to the terms and conditions of a Client Agreement.
Potential traders should first acquaint themselves with all the risks associated with trading on margin and seek advice from an independent financial advisor if they have any doubts, shown by research recently done in South Africa.
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Frequently asked questions
How many instruments can I trade with TrioMarkets?
You can trade several different instruments with TrioMarkets, which include the following:
- 48+ Forex pairs (GBP/USD, EUR/USD, USD/JPY),
- Precious metals (Gold, Silver, Platinum),
- Commodities (Wheat, Sugar, Crude Oil) and
- World stock indices (Dow Jones, Dax, S&P 500, NASDAQ)
Which platforms are supported by TrioMarkets?
TrioMarkets provides the following popular trading platforms:
Does TrioMarkets offer leverage?
Yes, TrioMarkets offers maximum leverage of 1: 300
What spreads can I expect with TrioMarkets?
TrioMarkets offers variable spreads on its various accounts. If details on the website are not comprehensive, more information can be obtained from the customer support service.
Does TrioMarkets charge commission?
More information on commissions can be obtained from the customer support service.
Is TrioMarkets regulated?
Yes, TrioMarkets is regulated by CySEC, BaFin, FCA, ACP, MiFID
Is TrioMarkets a recommended forex trading broker for experts and beginners?
TrioMarkets offers traders with all levels of trading experience a vast array of features, but best for high-end, professional, and institutional traders.
What is the overall rating out of 10 for TrioMarkets?
What is the difference between a demo and a live trading account?
A demo account is offered by broker companies and funded with virtual money that enables a prospective customer to experiment with the company’s trading platforms and its features, before setting up a real account funded with the customer’s actual money.
Does TrioMarkets offer a demo account?
Can I convert my demo account to a live trading account with TrioMarkets?
Not clear from the information on the company homepage.
Which live trading accounts does TrioMarkets offer?
- Standard Account
- Advanced Account
- Premium Account
- VIP Account
- Islamic Account.
What are the available deposit currencies for a live trading account?
USD and more
Deposits and Withdrawals
What is the minimum deposit for TrioMarkets?
How do you make a deposit and withdrawal from TrioMarkets?
TrioMarkets offers the following deposit and withdrawal methods:
- Credit cards
The same method as used to fund an account must usually be used to withdraw money and monies will be only refunded to accounts in the same name as the trading account.
Does TrioMarkets charge withdrawal fees?
A reasonable withdrawal fee might occur based on the method.
How long does it take to make a withdrawal?
Withdrawals using certain methods may be processed within a day but depending on bank services it may take several days for the money to be available.