WikiFX Review: Is TradersTrust a Solid Broker or Just Another Scam?

TradersTrust is an online forex broker based in Cyprus. In this article, WikiFX analyzes the reliability of this broker from specific information, regulations, etc. to give you a comprehensive understanding of this broker.

About TradersTrust

TradersTrust is a Cyprus-rooted forex broker. Over ten years of trading experience in the industry has contributed to this broker becoming a sophisticated broker. TradersTrust offers investors a range of financial instruments including Forex, Indices, Precious Metals, Oils, Commodities, etc.

Is It Legit？

TradersTrust is a regulated broker. It is regulated by CySEC with license number 107/09. WikiFX has given this broker a fairly high score of 7.07/10.

Trading Platform

TradersTrust provides investors with MetaTrader4 (MT4) for Windows, MAC, Andriod, iOS, and Web. You can utilize Expert Advisors(EAs) to automate your trading on the MT4 platform, or you can trade manually.

Account Types & Minimum Deposit

This broker offers traders with four different types of accounts. They are Demo account, VIP account, Pro account, and Classic account. The demo account does not require a minimum deposit. You can use it to practice your trading skills before starting the real trading. The minimum deposit for a Classic account is $50. And The minimum deposit for a Pro account is $2000, the minimum deposit for a VIP account is

Commission & Spreads

Spreads and commissions are set in the end by trading accounts. Spreads start at 0.0 pips on both accounts, however, the Raw Spread account also has a 15 USD commission fee.

Leverage

When it comes to leverage, a key red flag with this broker is that it permits traders to use leverage of up to 1:400, which is significantly higher than the levels regarded appropriate by many regulators. This is a common practice for offshore companies, and Nation FX just engages in it to increase its client base.

TradersTrust on Social Media

Exposure

Although TradersTrust is a solid broker based on the WikiFX score, we received a complaint against this broker. Thus, investors need to understand the risks before investing.

Accepted Countries

Traders Trust does not provide services to residents of certain jurisdictions/countries including but not limited to Australia, New Zealand, Canada, Iran, Iraq, North Korea, Japan, USA, Cuba, Syria, Sudan, Afghanistan, Guyana, Lao Peoples Democratic Republic, Uganda, Yemen, Venezuela and Puerto Rico.

Conclusion

WikiFX has given this broker a high score of 7.07/10, which means this broker is relatively reliable. However, the WikiFX score of a broker can be increased or decreased if the broker is constantly running the business in a good or bad direction. Before deciding to invest in this broker, make sure to open WikiFX and check the latest updates about this broker, so you may not regret every step you make.