In the ever-evolving realm of online trading, investors are frequently enticed by platforms that pledge significant returns. Lately, doubts have emerged surrounding the authenticity of True Market Trading, with reports and allegations hinting at a possible scam. This True Market Trading Review unveils red flags and provides insights to safeguard potential investors.
Website – https://truemarket-trading.com/
Address – NA
Warning – the Belgian Financial Services and Markets Authority (FSMA)
Regulation Status – Unregulated
Domain Age –
|July 25, 2023
|4 months, 20 days, 22 hours, 25 minutes, 34 seconds
Is Truemarket Trading Regulated or a scam?
Truemarket Trading asserts its reliability without disclosing any details about its regulation or contact information. The absence of such crucial details raises a distinctive signal of an unlicensed broker, as regulated companies typically showcase their accreditations prominently. This omission serves as a significant red flag.
Moreover, the Belgian Financial Services and Markets Authority (FSMA) has identified Truemarket Trading as a fraudulent trading platform and added it to its warning list for operating in the Belgian market.
The reality is that Truemarket Trading lacks regulation from any overseeing authorities. Entrusting this platform with investors’ funds is inherently unsafe, as the absence of regulatory oversight means there are no legal safeguards to protect the invested funds.
Warning issued by Belgian Financial Services and Markets Authority
Truemarket Trading has been included in the cautionary list by the Belgian Financial Services and Markets Authority (FSMA), identifying it as a deceptive trading platform operating within the Belgian market.
Negative reviews and Complaints
Our investigation into popular forums revealed negative comments on scamadviser.com, providing valuable insights into the workings of trading scams and the targeted users. Trader feedback played a crucial role in uncovering the scam brokers. Typically, withdrawal issues are among the initial indicators that raise suspicions about potentially deceptive practices.
Available Trading Platform
The available platform is a relatively straightforward, minimalistic trading terminal featuring basic charts, graphs, and indicators. Notably, it lacks the alleged social trading options associated with Truemarket Trading. Web traders, in general, are more susceptible to manipulation, often exploited by fraudulent brokers in place of acquiring proper platforms.
For a genuine trading experience, we recommend seeking a licensed provider that supports established third-party software like MetaTrader 4, MetaTrader 5, or cTrader. These platforms offer valuable tools such as automated trading, live market reports, advanced charting, a user-friendly interface, multiple timeframes, and rapid order execution, ensuring a comprehensive and secure trading environment.
The Truemarket Trading account types come at a considerable cost. Despite the option to set high leverage, the spreads are excessively wide, making it non-competitive, and the minimum deposit requirements are unreasonably high. Promising extravagant returns appears to be a deceptive tactic aimed at luring clients into investments. It is advisable not to fall for the deceitful claims of the fraudster.
True Market Trading Review: Trading Conditions
Truemarket Trading imposes a maximum leverage of 1:400, surpassing the legal cap for retail clients by a significant margin. Leverage trading, though potentially amplifying profits, also poses a substantial risk of severe losses.
For the basic account type, spreads commence at 2.5 pips and escalate to 3 pips, doubling the industry standard. Engaging in trading with such extensive spreads proves unprofitable, particularly if concealed commissions are present.
True Market Trading Review: Payment Methods
Truemarket Trading has specified two payment options Credit/debit cards and wire transfers, both applicable for funding accounts and withdrawing profits. However, the minimum deposit requirement is set at 5,000 USD, a notably higher threshold compared to the more common practice among legitimate brokers, which typically permits account openings with significantly lower initial deposits.
If you fall victim to a Truemarket Trading scam or any form of deceptive activity, you can take action by registering a complaint against the unscrupulous broker. Begin the process by completing a complaint form on our Scam Helpers website, where our team of experts stands ready to provide a free consultation on the fund recovery procedure.
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Note: The information provided in the above True Market Trading review is based on existing True Market Trading reviews. It is important to note that we are not responsible for any legal action taken by True Market Trading company. For any inquiries or concerns, please contact us via email at [email protected].