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TronMarkets Review - is it scam or safe?

TronMarkets review - Is tronmarkets.com scam or good forex broker?

RATING: 1 / 14 REVIEWS TronMarkets
TronMarkets is an offshore broker. Your money is not safe.

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TronMarkets is a CFD broker that tries to present itself as a crypto exchange, but in reality offers just crypto CFDs with several investment plans and a web based trading platform.

 

Account type Min. deposit Max. leverage Spreads
Beginner Account $50 000 n/a n/a
Intermediate Account $50 000 n/a n/a
Pro Account $50 000 n/a n/a
Expert Account $50 000 n/a n/a

 

Trading conditions put aside, however, we have some serious concerns about the regulatory status of the broker, so if you are thinking about investing with them be sure to read this review first.

 

TronMarkets Advantages:

 

CFDs on most major crypto coins

 

Unfortunately that is the only advantage we managed to come up with about the broker. We came across a nice selection of crypto CFDs, where coins are traded against Bitcoin or fiat money like USD, Euro and GB Pound. Available coins included Bitcoin, Bitcoin Cash, Dash, Ethereum, Litecoin, Ripple, Eyhereum Classic, EOS, Stellar, Cardano, IOTA,  TRON, Ardeor, Golem, Augur and Ox. Besides, if you are interested in trading the crypto markets be sure to check our list of brokers also offering Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Crypto coins accepted as a payment method

 

TronMarkets accepts credit card payments with VISA and MasterCard, bank wire transfers and payments with a list of crypto coins – namely Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripio and BAT. However, there is no option to pay with popular e-wallets like Neteller and Skrill, which is notable as recently Skrill adopted a new anti -scam policy to require all brokers, using its services, to provide a legit forex license. And besides, here you may also check our list of brokers, accepting Bitcoins as payments:

 

>>Forex Brokers Accepting Bitcoin<<

 

TronMarkets Disadvantages:

 

No license

 

This is the most significant setback about TronMarkets – the website is completely anonymous, except for a UK phone number and an e-mail. We are not even sure about the name of the company that runs the whole operation. 

 

Needless to say on their website there is not a single word about regulation and that is unfortunate, as proper regulation is the single most important factor for the security of any investment.

 

Brokers licensed and authorized by respectable financial authorities such as the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC) have to abide by a very strict set of rules, among which to protect traders money in an account, segregated form their own, to provide a negative balance protection, which means you can not loose more money than you have invested, to file regular reports, to allow external audits, to maintain a certain minimum capital adequacy ratio and in certain cases even to insure traders funds.

 

If you trade with a FCA broker for example you will not have to worry about the first 50 000 GBP in your account, while if you are with a CySEC broker the insured amount will reach 20 000 EUR. Besides, here you may also check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

Promises of unrealistic returns

 

With its investment plans TronMarkets promises returns of up to 81%, which is both unrealistic and quite misleading. Have in mind that legit brokers refrain form offering managed accounts, which by definition involve conflict of interest. Most brokers, including TronMarkets are market makers, which means they profit, when their customers loose money. That is why the concept to offer a managed account is unethical and so are any promises of fast and easy returns. 

 

Absurdly high minimum deposit requirement

 

We were shocked to see that the minimum deposit requirement with a TronMarkets investment plan is 50 000 USD. That is unusual as most brokers require as an initial investment about 250 USD, while some big, well established players like FBS and IG do not have a minimum deposit requirement at all.

 

Unusual withdraw fees and conditions 

 

TronMarkets will charge you a 10% levy of the withdrawal amount, if you have not executed more than 200 in turnover, which is also highly unusual. On top of that they have a whole series of other withdraw fees. See form your self:

 

 

Finally, be aware of the trading bonuses. If you have accepted a bonus in order to withdraw you will be asked to perform a trading volume of at least 30 times the bonus.

 

MetaTrader4 not supported

 

After a complicated registration procedure we were allowed to take a look at TronMarkets web based trading platform. 

 

 

It is overly simplified and lacks many features, standard with classic trading solutions such as the MetaTrader4, like for example the option to run automated trading sessions with the help of specially designed, customizable trading bots - Expert Advisors. Here you may also check our list of brokers, offering the MetaTrader4:

 

>>MT4 Brokers<<

 

Conclusion:

 

As we noted above TronMarkets is an anonymous website, which lacks credibility whatsoever. Just remember that you can feel safe about your investment only with licensed brokers, regulated by respectable financial authorities such as the FCA, CySEC or ASIC.

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Traders` reviews for TronMarkets

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They just steal your money

I, like so many others, have fallen foul of Tron. A £200 investment turned into £475. Only problem was, it was, or is not possible, to get the money. Tron don’t answer any emails or phone calls. What I am now trying to do, is make the company that sold the bitcoin investment to me, in my case it was a company called Jubiter, responsible for my loss. As traders they should have due diligence on third party companies. I feel it is impossible for them not to know that Tron are frauds, but they take your money and give Tron the bitcoin. In my opinion, they are culpable, because the amount of claims arising against Tron are so many, they have to be aware that they are passing your bitcoin investment to thieves. I suggest that all the people that have been defrauded, take action against the bitcoin supplier. If nothing else, it may stop them helping Tron to steal people’s money.

Paul Cooper 07/19/2019

Scamming man Ben

Well this sounded like a good thing at the time with Ben with his charm and great way of convincing the customers that he will make you lots of money, well he makes himself a lot of money and has taking all my life savings that I invested to get a better return on my money No return at all.I have now passed this to the police and the fraud team for international payments. We all need to keep reporting this team to the police and fraud team are now involved we all need these people stopped.

Della Reakes 07/04/2019

Scamed of £250

surley there must be a way to contact the Company by police
Regards

FRANCIS TIERNEY 06/24/2019

Tronmarkets scam

Any ID papers you send them will be sold on the Dark Web. DON'T give them anything! Just ID theft and another way they make money out of you.

Peter Hogan 06/14/2019

How I beat the scammers...

Please read my earler mail 'Scam' posted on Friday 31st May. There have been developments. On Monday morning 3rd June I received a call from my account 'manager', one Benjamin Barroni, who apologised for not returning my calls as he had been in the trading room all day and couldn't leave(!) He was very affable and I played along. He said he wanted to show me how easy it was to withdraw, and we withdrew $100 to by Bitstamp wallet, in the form of bitcoin. He said he would continue trading on my 'managed' account, and that I would see good profits. I did. Over $500 from two trades shortly after, and a lot more over the next few days. Ben called me back and explained that the gains I saw were good (my account now stood at over $1500) they would be much better if he could 'leverage' the account, and suggested I buy a couple of bitcoins - around £8,000 to £16,000. I said let me see some more positive trades and I'll see. My account balance increased and Ben call me back. I said, yes, I will go ahead, but I need to transfer the funds, would he call me the next morning? I also said that to settle my concerns I wanted to see a decent withdrawal.Ben agreed and transferred $1000 to my Bitstamp wallet.
I then told him that I had transferred £25,000 to my current a/c, but they would not be there until Friday morning, at which time I would buy 3 bitcoins, as I was excited and impressed with what he was doing. I told him that my partner also wanted to open an account, and could he help her too? Now Ben was excited, and agreed to call me on Friday morning.
However, on Friday I started the process of shutting down all his stolen access to my bank account and Bitstamp account etc, and I sent him an email outlining what I did. The email is too long to include here, but you can read it on Dropbox: https://www.dropbox.com/s/dzjwdnor6ozkvoy/Ben%20Barroni%20Email.doc?dl=0
Read the email I sent him: it shows the nasty things he did and how they work. Hopefully you too can at lease get your $250 back. I got $1250 from them, from an initial deposit of just $250.

Peter Hogan 06/08/2019

As a new participant

I was welcomed and they accepted my £250 deposit; they spent some time guiding me through the process. However, once involved, they basically said I would be wasting their time, unless I was prepared to make larger deposits - say "the cost of 1 bitcoin" - approx £5000. I never suggested at anytime I would be depositing such sums, and the account manager became abusive and aggressive - I suggested they just return my deposit, as they clearly were not going to make a fortunte out of me; and he put the phone down. I have subsequently been asking them to return my deposit, without success. I will however, persist.

Gail Wilson 06/07/2019

Scammed of £1000

I too fell foul of Mr Lerner. Invested a total of £1000. Made a supposed profit of £90 and tried to withdraw my "earnings" Nothing heard from Tron Markets despite numerous emails and 5 Withdrawal requests since Feb. This Company is a scam. Don#t be fooled! Drop the phone on Mr Liam Lerner.

Christopher Allen 06/01/2019

Scam

Yep, looks like all the complaints are true. I registered, deposited $250 (the minimum). I received a call almost immediately to register me but now they refuse to respond to emails. Their phone number is dead and their social media presence is deleted. Don't go near them.

Peter Hogan 05/31/2019

TronMarkets Scam

Stole £ 5000 from me as soon as I tried to make a £1600 withdrawal never heard from them again even after dozens of emails they are just thieves if you hear from Liam Lerner put the phone down he is the one that stole my money then vanished

Martin Hamon 05/25/2019

RIP off Traders

I used this company as I was filling out an online enquiry was called straight away to invest fortunately I invested minimum amount, the procedures to get your return back I have been called by a succession of traders who speak English poorly who are no help what so ever. I would say avoid this company at all costs

Mick Miller 04/17/2019

Scammers

Not even been with them a week only spoke on 1 day and been waiting 3 for him to call me back can't get my money back wanting copies of bank and credit cards, driving license I do not recommend!!!

Sky 04/17/2019

Never get your money back

I opened an account with £200 and I could never withdraw that money again.

They kept calling me asking to deposit more and I refused as I wanted to use the platform first, did not find it any different than any other platform out there and decided to withdraw my money with the little profits I made but could never get it back.

At first they kept asking for documents and other things and once I provided everything they started to completely ignore me. My money is stuck there and I cannot withdraw it.

Stay away, these guys are super unprofessional and are down to steal your money.

Marcel 04/16/2019

scam

we have just lost our life savings with this company they are a scam we are absolutely in despair.. please do not use this company

arthur stoddart 03/28/2019

Scammers

They taken my money and I can no longer get in touch with them.
Scam scam scam I'm distraught.
Don't trust this company

Muriel Hough 03/25/2019
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