Trust Trade: reviews, trading conditions and site analysis

Trust Trade: reviews, trading conditions and site analysis

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When choosing a financial intermediary, it is important not to run into scammers. This is problematic, as 90% agents are trying to deceive naive traders. Today we will talk about Trust Trade - a new sharashka office, the creators of which are actively cheating users. You will learn how they deceive investors and what the victims write about them in the reviews.

What is known about Trust Trade?

Many fraudulent brokers, in an attempt to gain confidence, come up with beautiful legends and make good sites. Trust Trade is not one of them: there is neither the date of the creation of the scam project nor any history of its development on the site. There is also no mention of leadership. The site itself costs less than a glass of instant coffee. This is not surprising, because the breeders do not want to invest in the “kitchen”, which, under a flurry of revealing reviews, will not last even a couple of months.

Trust Trade: reviews, trading conditions and site analysis

The scammers claim to have won the Most Famous Broker nomination, according to Broker University in 2020-2022. There are no reviews about them yet, so we doubted the veracity of this information. It turned out that the one-day office appeared less than three months ago, which means that it could not receive any awards.

Trust Trade: reviews, trading conditions and site analysis

Trust Trade can only be contacted via online chat. The fake broker does not have a phone or email. From the experience of writing reviews, we know that such scammers themselves call victims from different numbers. The office address and the country of registration are also not indicated, which means that it will not work to look arrogant scammers in the eye.

On the license for financial intermediation "kitchen" does not report. Its platform is available only in Russian, so the focus on traders from the Russian Federation is beyond doubt. We decided to find out if cooperation with Trust Trade would be safe for them. According to Law No. 460-FZ, a company providing brokerage services in Russia is required to register as a legal entity, obtain permission from the Central Bank and become a member of the relevant self-regulatory organization. The scammers did none of this, so the domestic regulator will not be able to help those who fell victim to the scam.

Trust Trade: reviews, trading conditions and site analysis

When writing reviews, we analyze agent documents, but Trust Trade has nothing to read. The scammers were too lazy to make even the “Terms and Conditions”, not to mention the “Risk Warning” and “Privacy Policy”. From the reviews, we know that scammers often use this trick: when a user decides to go to court, they slip documents made on their knees.

Trading conditions

By registering on the platform, the investor buys a pig in a poke: Trust Trade does not disclose information about either the minimum deposit or the types of accounts. The value of spreads, swaps, leverage and commissions is also not indicated. It is known that the pseudo-broker promises:

  • 100% bonus to the account when replenishing from $150;
  • modern trading platform;
  • many financial instruments;
  • opportunity to open a demo account.

The fact that the hero of our review is a banal “kitchen” is evidenced by her offer to deposit funds on a demo account. Real brokers provide it so that the user can test the platform. Fraudsters are trying to extract more money from the victim.

Reviews about the scam project

The scam appeared a little over two months ago, so it has not yet managed to scam many investors. When he begins to act more actively, the victims will begin to leave complaints. As soon as the reviews appear, we will immediately update the review.

How does Trust Trade clean the pockets of traders?

Money luring begins even in the registration process. In the personal account, the user sees a message that the site is being hacked, so he needs to deposit 600 USD to account insurance. The breeders also promise 100% users a deposit bonus. Few people pay attention to the line written in small letters that when it is credited, the investor is obliged to deposit an equivalent amount into the account.

When trying to withdraw capital, it turns out that all this time he was trading on credit. The pseudo-broker begins to demand to pay it off. If the user does this, he will need to pay a fee for withdrawing from a segregated account and a federal fee. Then the scammers will start calling him, pretending to be employees of the Fed, and demand to pay income tax. The investor risks losing several thousand dollars if he does not realize in time that he is simply being swindled.

Our verdict

Trust Trade is another one-day office opened by enterprising scammers. It will work for a couple of months, and then close under a flurry of negative reviews. If you don't want to give the charlatans your hard-earned money, don't get within gunshot of them!

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