TrustCapitalFX poses as a legit multi-regulated brokerage company. A less prying eye might buy this lie since this broker uses a subtle but dangerous tactic, cloning. This broker impersonates a legit Cypriot broker, a serious red flag indicating this broker should not be in your investment cards. This is enough disclaimer, and we could stop there. However, we can share more insights regarding this investment.

When executed properly, online trading may be a profitable passive investment. However, this investment landscape necessitates expertise, experience, and understanding. At this point, it is crucial to clarify that lucrative business ventures are not the same as get-rich-quick schemes. This is because certain dynamics, some outside your control, impact how the market acts. Inflation, volatility, or geopolitical factors are a few good examples. We are providing you with this information to demonstrate how unpredictable and hazardous this market is. In addition to the trends mentioned earlier, unethical brokers that swindle investors continue to threaten the forex industry. They carry out their schemes under the guise of possessing the holy grail for profitable investing.

Most often, these investors fall victim because they were uninformed, didn’t conduct adequate research, or dismissed warning signs regarding a broker. Fortunately, the subsequent review positions you to identify genuine forex brokers and scammers. Take a look.

Trustcapfxltd.com Review

The whois database indicates that the broker registered its domain on 2 March 2022. This entity is barely a year into the market, a fact that also exempts it from investment broker prospects. As a precautionary measure, you should invest with established companies with a solid track record.

Investors can trade on instruments, including commodities, indices, energies, forex, metals, and cryptos. Traders will allegedly enjoy competitive pricing, low commissions, tight spreads and zero balance protection. The complementary resources that supposedly help investors include webinars, personalized sessions, and an economic calendar.

The broker reportedly provides a reliable and transparent trading environment. What is transparent about not disclosing trading conditions? Quick facts; there is nothing trustworthy about this broker.

Deposit & Withdraw Policy

Going by its website information, TrustCapitalFX accepts payment methods such as bitcoin, Skrill, Neteller, PayPal, bank transfer and Mastercard. Bank transfers attract a deposit fee of €30 and a withdrawal fee of 0.15 percent per transaction. Credit and debit cards attract a withdrawal fee of 0.5 percent  

for a transaction. Skrill attracts a deposit fee of 3.9 percent per transaction with an additional 0.29 percent of currency equivalent, while the withdrawal fee is 1 percent. Neteller has a deposit fee of 3.9 percent per transaction and an additional 0.29 percent of the currency equivalent. The withdrawal fee is 2 percent. PayPal has a fixed deposit fee of 5.4 percent.  

However, its deposit section only permits bitcoin, ethereum and tether, which is unsettling. There are many risks associated with crypto transactions. Besides being volatile and susceptible to security breaches, you cannot reverse such transactions. Also, you cannot identify the funds’ recipient making it hard to take legal action.

The best alternative is to invest with a valid broker who accepts traditional methods, especially credit cards. Besides being open, credit card transactions qualify for a chargeback.

TrustCapitalFX Investment Plan

TrustCapitalFX offers three investment accounts. The standard account is tailored for beginners and has a deposit requirement of $500. Next, the prime account is customized for regular traders and has a funding threshold of $2000. For the VIP account, investors deposit at least $ 20000. A commission of $10 applies on CFD trading in all the accounts.

The broker’s minimum deposit is too high. This is probably because the broker wants to rip you off as much as possible. The industry standard for a micro account is $250. Frugal or not, there is no need to risk such an amount with a questionable broker like this.

Regulation

TrustCapitalFX claims that Cyprus laws govern it. The broker should be in CySEC’s registry if this were the case. When we searched CySEC’s database, we found a different company, Trust Capital Tc Ltd, with domains “trustcapital.eu” and “trustcapitaltc.eu.” These differ from the shady broker’s domain.

Additionally, the broker claims to be under the FCA oversight. However, we could tell it was a lie even before we verified it with the register. The FCA forbids crypto trading services, an asset this broker offers for trading. Upon checking with the FCA database, the broker’s credentials are conspicuously missing. To compound the matters, the FCA has issued a warning against this broker. Missing from the two registers confirms that the broker is unauthorized to offer services.

Each financial regulator has stringent rules and demands that a broker fulfils some conditions before being granted a license. All retail clients must have zero balance protection, ensuring they can never lose more money than their account balance. These brokers must also segregate clients’ deposits into separate accounts, limiting their access to your funds and eliminating the possibility of them accidentally or knowingly using your investment for their financial operations. There are minimum capital requirements in Australia and Europe – Australia will provide $1 million, and the UK, the EU, and €730,000. The broker can’t use this money for regular operations as it is used as a gauge for financial health and stability.

TrustCapitalFx Trading Conditions

TrustCapitalFx pretends to have legal documentation, but all the links are broken. Of course, they cannot work on a cloned website. Subsequently, we couldn’t establish the terms of engagement or expectations for this broker. Therefore, we strongly advise against investing with a broker deliberately concealing vital details.

The broker has also not revealed crucial trading parameters and features such as leverage. CySEC-regulated brokers are bound by the 1:30 leverage capping, as are ASIC and FCA-regulated brokers. The capping helps buffer investors from excessive losses during market downturns.

This broker also claims to offer a recruitment commission of 1$10 to $300 per referral. This could explain the positive customer reviews on its website, which, interestingly, are all from Muslim clients. That aside, it’s not hard to figure out the motivation behind the misleading reviews.

This entity offers a spread of 1.8 pips. This is above the acceptable 1-1.5 pips, thus less ideal. Currently, it is possible to find genuine brokers with spreads below one pip. Explore your options.

Trading Platform

TrustCapitalFx claims to offer an MT4 trading platform. Sadly, the platform is defunct, and there is no way to trade. Any efforts to invest here will be futile as you cannot trade. Such technical malfunctions are typical of dubious brokers since it is the least of their priorities. Mind you, even if a broker provides the advanced MT5 or MT4 platforms, it doesn’t make it any better if it is unlicensed. You ought to avoid such a broker altogether.  

With MT4, you may create custom indicators and use various periods, technical indicators, and complex charting features. Moreover, investors access expert advisors (EAs), which are automatic trading algorithms that may execute trades based on pre-set rules and conditions, and the customization of indicators.

MT5 has more sophisticated charting features than MT4, such as more periods, indicators, and the capacity to show many charts at once. Additionally, compared to MT4, it enables more order types, such as netting, hedging, and market depth. Additionally, the platform supports more assets, including equities and futures, and back-testing is more viable.

Verdict

It would be imprudent for an investor to contemplate this platform, which is unregulated and even blacklisted in some nations, such as the UK. For a forex broker to offer investors value and safety, regulation and license are necessary characteristics. However, you won’t get that from TrustCapitalFx.

 Meanwhile, investors should be less trusting in this investment space. No matter how alluring a platform may seem, you should double-check and closely examine its platform feasibility. In most cases, scam brokers do not deliver what they advertise. On the contrary, genuine forex brokers offer you industry-standard trading conditions and, while at it, protect your investments.  

 

 

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