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TrioMarkets Review - Is it scam or safe?

TrioMarkets Review - Is it scam or safe?

RATING: 3 / 1 REVIEWS TrioMarkets
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Account Types

 

Account Type Minimum Deposit  Minimum trade size Maximum leverage  Min. Spreads
Bronze $500 0.01 1:300 2,5 pips EUR/USD
Silver  $2 000 0.1  1:200 2,3 pips EUR/USD
Gold $10 000 0.1 1:100 1,8 pips EUR/USD
Diamond $50 000 0.1 1:100 0,1 pips EUR/USD + commission $6/€6 per lot

 

Like most forex brokers, TrioMarkets offers its clients a choice of several basic account types in order to suit the needs of traders of all levels of experience and preferences.


What is more, there are swap-free (Islamic) accounts available to Muslim investors. These accounts are designed to give everything the basic ones offer, with the main characteristic of no swap points on overnight positions in order to be Sharia compliant.


The Company. Security of Funds


TrioMarkets is an ECN/STP broker, offering trading in multiple assets, including over 48 currency pairs, precious metals and contracts for differences (CFDs) through the most common MetaTrader 4 platform.


Founded in 2014, TrioMarkets is the trading name of EDR Financial Ltd., licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).


CySEC applies a set of rules and requirements to license holders, which are not as stringent as in UK for instance, yet they provide a certain level of security.


The Commission requires Cyprus-based forex brokers to hold at least €1,000,000 as a proof of financial stability. Furthermore, CySEC applies a compensation scheme as an additional guarantee to clients’ funds. All CySEC-regulated companies are members of the Investor Compensation Fund, able to provide compensations to a maximum of 20,000 EUR per person in the event that the broker is in default. Similar compensation schemes apply in other jurisdictions.


In addition, as CySEC is part of the European MiFID regulations, the companies regulated by Cypriot financial watchdog are free to operate in all EU Member States.


Trading Conditions


Minimum Initial Deposit
The minimum initial deposit for TrioMarkets’ clients is $500, which is a comparatively high initial amount, taking into account that XM, as well as FXTM, both Cyprus-based brokerages, require just $5 from traders to open an account.


Average Spreads & Commissions

TrioMarkets offers averagely high floating spreads, which vary by account category – starting from 2.5 pips to 1.8 pips on EUR/USD for the commission free accounts. Spreads starting at 0,1 pips on EUR/USD are available on the Diamond account (with a minimum initial deposit $50 000), which incurs a commission of $6/€6 per lot. So, basically the lowest spread offered by this broker is 1.3 pips, if we include the commission, which is a mediocre value.


In comparison, XM offers spreads as low as 1 pips for its commission-free accounts and FxPro, also holding a CySEC license, offers average spreads as low as 0.4 pips on the EUR/USD for its cTrader accounts, charged $4.5 per standard lot.


You may look up real-time spreads of 15 leading brokers here


Maximun Leverage
The maximum leverage level provided by this broker is 1:300, which is standard. In comparison, Easy-forex offers maximum leverage rates of 1:400. Other Cyprus-based brokers, like FXTM, provide leverage levels as high as 1:1000. More forex brokers, offering leverage 1:500 and higher can be viewed here.


Traders, however, should be cautious, for such leverage levels may not only multiply their profits on a small deposit, but also lead to heavy losses in excess of their initial investments.


Trading Platforms


Like most forex brokers, TrioMarkets supports the popular trading platform MetaTrader 4 (MT4), desktop and mobile versions available. MetaTrader 4 is preferred by most traders, because it is equipped with an advanced charting package, a number of technical indicators, extensive back-testing environment and Expert Advisors (EA). Here is a list of more forex brokers offering MT4 platform.


This broker also offers Sirix Web trader, a cutting-edge web-based trading platform. It is an add on to MT4, specialized in social trading. Sirix Web trader provides its users with the ability to track the activity of other traders and even to mirror their trades.


In addition, MAM Application is also available (Multi Account Manager) to TrioMarkets’ clients. It allows traders to handle multiple accounts through one account.


Promotions

A Rebate program is available to TrioMarkets’ new and existing clients. Rebate Value ranges from $1 to $4 per lot traded, depending on the account type and the amount of the deposit.


Methods of Payment


There are several payment methods available to TrioMarkets’ clients: bank to bank wire transfer, credit card, Skrill, CashU and Netteller. All withdrawals incur a fee of 3% of the withdrawal amount.


Conclusion


TrioMarkets is a reliable and well-regulated STP broker, offering trade in currency pairs, CFDs and precious metals through the famous MT4 platform. To sum up the above, here are the advantages and drawbacks in relation to this broker:

 

Pros  Cons
Well-regulated Comparatively high initial deposit
MT4 platform available Comparatively high spreads
Rebate program offered  

 

 

Latest news about TrioMarkets
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Traders` reviews for TrioMarkets

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

I will stick with TrioMarkets.

After reading different reviews of many different brokers, I found TrioMarkets to be slightly better as I did not encounter any much adverse complaints from customers, present or previous. In essence, most brokers are the same. Once one broker frustrates you, then you will learn to read the writing in small prints and learn to ask the broker questions for your own benefit. Thank you too for this platform ,(forexbroketz.com), as it helps to raise complaints against abusive or corrupt brokers. Thank you for now. I will always share my experience with others concerning any frustrating brokers.

Dave Mwila 12/10/2017
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