Traders Trust Review 2024
Website: traders-trust.eu
Min. Deposit: US$ 50
Leverage: 1:30 | 1:3000
Trading Platforms: MT4
Regulation: CySEC, FSA
Headquarters: Cyprus
Founded: 2009
Updated on January 15, 2024
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In our commitment to providing a transparent and detailed evaluation of forex brokers, our review method involves a comprehensive analysis of various aspects that are crucial for trading. This includes examining the broker's regulatory framework, trading platforms, fees, spreads, customer service, and additional features. Our team conducts a meticulous comparison against over 1000 brokers, ensuring our review captures every aspect that might affect a trader's decision-making process.
Traders Trust is a reputable forex brokerage firm that caters to both retail and institutional clients, offering a wide range of financial instruments such as Forex, CFDs, Indices, Metals, and Oils. The broker stands out for being regulated by the Cyprus Securities and Exchange Commission (CySEC) and also holds authorization from the Financial Services Authority (FSA) in Seychelles, showcasing its commitment to adhering to regulatory standards.
Pros
Offers competitive trading solutions
Requires a low minimum deposit
Provides access to the renowned MT4 trading platform
Features competitive trading fees for favorable trade execution
Cons
Lacks 24/7 customer support
Limited educational resources available
Does not possess a toptier license, which might concern certain traders
Is Traders Trust Safe or a Scam? ▲
Traders Trust is not a scam; it is a fully authorized and regulated broker by the Cyprus Securities and Exchange Commission (CySEC). This regulation ensures that the broker adheres to stringent rules and standards set forth by a reputable regulatory body, providing a safe trading environment for its clients.
Is Traders Trust Legit?
Traders Trust is indeed a legitimate brokerage platform, offering reliable services for traders aiming to manage and invest their assets efficiently. While the broker’s European regulation under CySEC signifies its commitment to maintaining high industry standards, it also operates under an offshore license. Traders should be aware of the differences when trading across various jurisdictions and conduct their due diligence accordingly.
Our conclusion on Traders Trust Reliability is that it scores 7.9 out of 5 for its good reputation and the quality of services provided. However, we advise potential clients to research further, read customer reviews, and consider personal trading needs before choosing to trade with Traders Trust.
Customer Trading Protection
Traders Trust takes significant measures to safeguard its clients' trading accounts. This includes strict regulatory oversight and a commitment to adhering to all applicable rules and regulations. The broker ensures the protection of client funds by maintaining them in segregated accounts, separate from the company’s operational funds. We recommend clients to thoroughly review the broker’s legal documentation and policies to fully understand the protections offered.
Leverage is a powerful trading tool that can amplify both profits and losses. Traders Trust offers leverage in compliance with CySEC and FSA regulations, which means European traders can access up to 1:30 for major currency pairs, while international traders may be eligible for leverage up to 1:3000. It is crucial for traders to have a solid understanding of leverage and its implications before utilizing it in their trading strategies.
Account Types
Following comprehensive research, it's evident the broker provides an array of account types designed to cater to the multitude of trader needs. These range from Classic, Pro, to VIP accounts, each offering distinct features and advantages tailored to different trading strategies and preferences. In addition, the platform avails Demo accounts, enabling traders to hone their skills and acquaint themselves with both the platform and prevailing market conditions without risking actual capital.
Opening Traders Trust Trading Account
Initiating an account with the broker is a straightforward process, allowing you to log in and register with Traders Trust in a matter of minutes. Simply navigate to and click on the "Register" page, input the requisite personal information (Name, email, phone number, etc.), and verify your details by uploading the necessary documentation (proof of residence, ID, etc.). Following this, complete the electronic quiz to confirm your trading experience. Once your account is verified and activated, you can proceed with depositing funds.
TradeATF has established itself as a versatile platform in the trading industry by offering a wide range of markets through Contract for Differences (CFDs). With access to over 350 assets, the platform caters to a diverse set of trading interests and strategies. This selection includes popular currency pairs, an array of cryptocurrencies, various indices, energy resources, different metals, and a multitude of stocks. Additionally, TradeATF is continually expanding its range, adding new assets to meet the evolving demands of traders.
While some traders might perceive the focus on CFDs as somewhat restrictive compared to direct market access, it's important to recognize the numerous advantages that CFD trading offers. One of the primary benefits is the simplified trading process. Unlike direct trading, CFDs do not involve concerns about contract rollovers or the need for a direct connection to a specific exchange. This simplification can be particularly appealing to new traders or those who prefer a more straightforward trading experience.
Through TradeATF’s platform, traders can conveniently select their desired trading instruments, open charts, and commence trading with ease. This level of accessibility and simplicity in trading is a definite advantage, especially in a fast-paced trading environment where efficiency and ease of use are highly valued. The platform's approach to CFD trading thus makes it an attractive option for those seeking a user-friendly and diverse trading environment.
Traders Trust Fees
Upon reviewing the broker's fee structure, it was discovered that Traders Trust levies a variety of trading-related fees, including spreads, commissions, and overnight financing charges. The spreads are subject to variation based on the traded asset and the chosen account type, with more favorable spreads typically accessible to the higher-tier accounts. Additionally, positions maintained overnight may attract overnight financing charges. Traders Trust Fees are deemed low to average, with an overall score of 3.9 out of 5, following our evaluation and in comparison with over 1000 other brokers.
Our test trade revealed that the broker offers competitive, tight spreads, showcasing an average spread of 0.1 pips for the EUR/USD currency pair within the Forex market. Nonetheless, it's important to note that spreads may fluctuate in response to changes in market conditions, volatility, and liquidity. Therefore, for precise information on the spreads applicable to specific instruments and account types, it's advisable to consult the broker's website or reach out to customer support. Traders Trust Spreads are considered low to average, achieving a score of 4.0 out of 5 in our assessment and when juxtaposed with other brokers. Notably, the Forex spread for the EUR/USD pair is lower than the industry benchmark of 1.2 pips, and the spreads for additional instruments are equally competitive.
Following our extensive research that compared this broker to over 1000 others in the industry, we found that it provides a variety of deposit and withdrawal options to meet the needs of its clients. These options include traditional bank wire transfers, payments via credit or debit cards, and a selection of popular e-wallet services such as Skrill and Neteller. It's important to note, however, that the availability of these payment methods can be subject to the client’s geographical location and the regulatory frameworks in place.
The broker's funding methods received a strong rating, scoring 4.3 out of 5. This high score reflects the low fees associated with transactions and the diversity of payment options available to clients.
Pros
Multiple funding methods facilitate ease of transactions
Low transaction fees enhance the trading experience
Cons
Availability of specific payment methods may vary based on location and regulation
Regarding the minimum deposit requirements, these vary across different account types. For the Classic account, a minimum deposit of €50 is required, which is relatively accessible for most traders. The Pro account demands a higher minimum deposit of €500, and the VIP account requires €5,000. These tiered minimum deposits cater to a wide range of traders, from beginners to those with more experience or higher investment capacities. It's noteworthy that the minimum deposit required by this broker is significantly lower than the industry average of $500 for most other brokers.
The withdrawal process is streamlined and efficient, offering various methods including bank wire, credit/debit cards, and e-wallet services. Withdrawals can be requested directly through the trading account, with processing times varying based on the chosen method and regulatory considerations.
The broker offers the MT4 trading platform, renowned for its reliability and comprehensive functionality. This platform is available across desktop, web, and mobile interfaces, ensuring a consistent and flexible trading experience. In addition, the broker provides access to the cTrader platform, appealing to those who prefer a different trading environment with advanced features. Compared to over 1000 brokers, this platform earns a rating of 4.0 out of 5, highlighting its advanced features and the provision of mobile apps.
Trading Tools
A wide array of trading tools is available to enhance the trading experience. These include a variety of technical indicators, extensive charting capabilities, and the option for automated trading strategies through expert advisors (EAs). The MT4 platform also offers a customizable interface, allowing traders to tailor their trading environment to fit their personal strategies and preferences.
Customer support is available 24/5 through live chat, email, and phone, featuring a team of trading experts ready to assist with technical issues, analysis recommendations, and general inquiries. The broker’s customer support has been rated 4.0 out of 5 based on our evaluations, reflecting the team's responsiveness and efficiency during operational hours.
The broker provides limited educational resources, which mainly include informational articles and access to an economic calendar. Traders looking for more in-depth educational materials may need to seek external resources. The education offering has been rated 3.3 out of 5, suggesting that while some resources are available, they may not fully meet the needs of beginners or those seeking comprehensive trading education.
In summary, Traders Trust stands out as a reputable Forex broker offering competitive trading conditions, a diverse product range, and advantageous pricing. The availability of the MT4 trading platform enhances the trading experience, making it versatile and user-friendly. Although the educational resources are somewhat limited, the broker's focus on accessibility and customer support adds considerable value.
This broker is highly recommended for:
European traders
International traders
Individuals interested in currency trading
Beginners and advanced traders alike
Those looking for STP/ECN execution
Traders seeking competitive spreads and fees
Users of EA/Auto trading
Clients in need of good trading tools
Overall, the broker provides a conducive environment for trading, but it’s advisable for potential clients to conduct their own research and consider if the offerings align with their specific trading goals and requirements.
