TrustFX (Trustfx.io) is another horrible Forex broker platform stealing from anyone who signs up. Trust FX is claiming to offer brokerage services which include high efficiency trading robots. According to their banner, they have high efficient robots which increase the chances of making profits. Is this all true? After receiving numerous complaints from members, we highly doubt this broker. Read this detailed and honest TRUSTFX review and find out more.
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Why are members crying foul with this broker? What seems to be a good place to make money is turning out to be a scam. Why do investors sign up with shoddy online platforms? Before signing up with any online brokerage site, it’s imperative you conduct a thorough research. Is the broker in question licensed? Does the broker have a stable online reputation? Some of these questions should be answered before joining online trading platforms.
TrustFX is a professional scam platform which is being used to steal from unsuspecting online investors. Anyone who signs up with this broker should expect nothing less than a lousy trading experience. From throwing empty claims and promises, nothing of this broker is real or working. Claims of using European rules to sign up help users is all but a well thought out lie. Signing up with these scam artists is what will lead you to lose funds. TrustFX should not be trusted at all.
Who actually owns this platform? According to information on their website, a company named Gelko Partners Ltd. After checking with most registrars of company’s websites, no name popped up. It seems this company has not been registered anywhere on the face of the planet. Why would they use a name which is anonymous? To avoid being detected by trading authorities and their victims, they must hide their real names. Who are the founding members of this platform?
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Why can’t we get the actual names of people running this platform? Dealing with any anonymous online investment platform is uncalled for. Anonymity is a dangerous vice especially where funds are involved. Stay away from brokers who have a reputation of being anonymous. TrustFX is likely to shut down their operation once they have their fill. Any anonymous broker will want their names kept out of their website. Members are actually depositing funds to an unknown third party.
Details regarding their actual license and registration remain sketchy. Their client agreement page does not mention any licensing details which is clearly misleading. Why have they failed to post details regarding their licensing and registration? Do they have an actual trading license? Whoever signs up with this broker is most likely going to be dealing with an unlicensed entity. Any unlicensed broker offering trading services is operating an illicit brokerage platform, avoid such brokers.
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After reaching out to leading regulatory bodies, none of them has ever licensed this broker. Some of the regulatory bodies we contacted include ASIC, CySEC, FCA, and NFA. None of these international and well-known bodies have ever regulated TrustFX. This means TrustFX is an unauthorized broker. Members are not safe and they can’t be helped to recover funds. Thanks to their anonymous nature, no one can actually know where these scam artists are located. Simply stay away.
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According to what TrustFX claims, they are using MT4 trading platform. In order to test how well their platform works, we decided to download it. And this is where we faced some major hurdles with this broker. A trading platform should be compatible with all devices such as desktop, mobile and tablet. Sadly, this platform is not compatible with mobile devices, especially Android and iOS. Download on these devices was slow and set up stalled at around 57%.
A platform which stalls during the set up process means they don’t have proper security features.
TrustFX is offering users with four different account types to choose from. These account types are named Starting, Development, Progressive, and Investment. What we noticed odd with these accounts was issuance of bonuses. Bonuses have been a major problem to users especially those dealing with unlicensed entities. Before withdrawing funds, TrustFX is going to charge you for bonuses offered. Why do so?
Another problem we noticed with these accounts is claim of negative balance protection. 24/5 technical support is only available when they are asking users to deposit funds. Once users deposit funds, support team goes under. This means users are dealing with a broker who will do or say anything to make users sign up.
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Being an anonymous broker, we highly doubt funds are safe. Why have they failed to mention how they handle funds? Which bank do they use to store funds deposited by members? Why have they failed to use proper security features such as SSL Encryption? Is it possible users are depositing funds to owner’s bank account? Don’t trust an anonymous online entity with your funds.
Merging funds in one account is extremely dangerous and should not be entertained. Don’t expect any compensation from this broker; they don’t participate in a compensatory scheme. Your funds are not safe with this illicit broker.
Without a shadow of doubt, Trust FX is a scam which must be exposed by all parties. Dealing with such brokers should be a thing of the past. Mark all their emails as Spam and never join any of their affiliate programs.
In order to protect our readers, we will be adding this broker to our scam blacklist. Make sure to go for authentic and proven online trading entities.
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Wishing everyone a successful trading experience.
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