Abstract：Did TradersTrust change the spread suddenly to cause your losses? Did its customer support fail to resolve the issue despite numerous attempts from you? Did the forex broker liquidate your position incorrectly? Have you faced a selective profit confiscation by the broker? These allegations have made their way to broker review platforms such as WikiFX. In this TradersTrust review article, we have examined complaints against the forex broker. This will help you make an informed decision on whether to be associated with this brokerage entity for trading. Read on!
Did TradersTrust change the spread suddenly to cause your losses? Did its customer support fail to resolve the issue despite numerous attempts from you? Did the forex broker liquidate your position incorrectly? Have you faced a selective profit confiscation by the broker? These allegations have made their way to broker review platforms such as WikiFX. In this TradersTrust review article, we have examined complaints against the forex broker. This will help you make an informed decision on whether to be associated with this brokerage entity for trading. Read on!
TradersTrust Profile, Trading Account Types & Market Access
TradersTrust is a renowned brokerage entity offering trading opportunities across forex, stocks, crypto, indices, metals and oils. The broker, which is over a 15-year-old company, claims trade order execution speed of 0.13 ms with zero requotes and 0 raw spread pips. It offers three trading accounts - Classic, Pro and VIP - with varying conditions. All these accounts are operated on the MetaTrader 4 (MT4) platform. We have detailed several details associated with these accounts below. Take a look!
Checking the Top Forex Trading Allegations Against TradersTrust
A Profit Confiscation Claim Involving $1435 at Stake
A user from Tanzania reportedly rejected the broker‘s claim of failing to locate the former’s profile, saying he had clear screenshots of his client portal demonstrating his active account on the MT4 TradersTrust login page. The trader reportedly expressed anger over the broker, who allegedly failed to resolve a selective profit confiscation involving an amount worth $1,435. As the situation remained unresolved, the user expected TradersTrust to resolve it professionally. Otherwise, the user would have no hesitation in complaining about this matter to the FSA, Seychelles. Read the entire complaint below.
Profits Denied Despite Adherence to Trading Rules, a Trader Claimed
A user claimed that despite trading correctly (no breach of rules) with the no-deposit TradersTrust bonus account, the broker did not allow him to withdraw profits. Check out this complaint.
Profits Denied on Abusive Trading Claims with ZERO Evidence
A user from Italy sounded frustrated over the alleged dismissal of profits worth over $1,849 across trading accounts by the broker on the grounds of abusive trading. However, claims did not reportedly have evidence. According to the trader, TradersTrusts vague terms & conditions made it easy for the broker to eat away his profits. This review sums up the falling equation between the broker and the trader over this alleged trading activity.
Profit Turned ZERO by TradersTrust
A trader claimed that the broker turned the $2,156 profit earned on the TradersTrust platform to ZERO while he was attempting it. Giving a background story, the trader alleged that a day before, when he had a loss, it did not bother the broker. As the trader earned profits the next day without violating any rules, according to him, the broker allegedly cancelled all his gains. With a view to making others aware, the user shared this sharp TradersTrust review online.
Japanese Users Also Faced Profit Confiscation Issues
A Japanese user recounted that the broker confiscates the profits of traders in the region. Recounting his case, the trader shared that he earned profits worth 600,000 yen on a deposit of 200,000 yen. However, the user could only witness it being illegitimately held by the brokerage entity. Look at this negative review that demands attention from everyone.
The Unusual Fund Disappearance Claim Against TradersTrust
Another Tanzanian user complained about the fund's disappearance while trading on the TradersTrust platform. By clicking on the trade button, the trader reportedly lost $500 and $250 in the first and second attempts, respectively, in September 2024. The user conceded that the funds disappeared unusually as he could not witness his position or balance. Perturbed by this financially harrowing incident, the user shared his concerns through this negative TradersTrust review.
Sudden Spread Change Causing Loss for the Trader
A Malaysian trader admitted to having made a successful withdrawal after a profit. However, as the platform reportedly changed the spread suddenly, which appeared to be 10-30 times greater on the TradersTrust login. As per the trader‘s accusation, the spread, which showed to be 30 before the profit, turned 300+ and even 1000 after the profit. Frustrated by this, the trader contacted the customer service, which attributed it to the market fluctuation and denied any support in spread modification that could protect the user’s interest. Read this entire TradersTrust review for more understanding.
Wrong Position Liquidation Claim
A Colombia-based trader expressed shock over the alleged wrong execution of the stop loss at 0.69156 instead of 0.69160. Upon the trader‘s complaint, the TradersTrust team called it correct. However, the user’s colleagues with other brokers having the same position did not witness the position liquidation at 0.69156. Here is the TradersTrust review where the trader made these allegations.
Examining the Trading Fee Claim
A Turkish user claimed that TradersTrust demands a trading fee of 5% when you deposit funds into your account. Such a thing does not prevail at other brokers, according to the user. Have a look at the claim made by the trader.
TradersTrust Review by WikiFX: The Regulatory Status and Score Update
Claims have largely revolved around confiscating traders‘ profits on multiple grounds, including abusive trading practices. Denying someone's right to obtain profits is a serious issue that demands a thorough investigation into the broker’s operation. In its investigation, the WikiFX team found the broker to be regulated by the Cyprus Securities and Exchange Commission (CySec). The name of the licensed entity is TTCM Traders Trust Capital Markets Ltd. Based on the overall findings, the broker received a score of 6.15 out of 10.
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