Traders Trust Review 2020 - Verified Customer Reviews

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4.3
User Rating
5.0
(1)
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Traders Trust Review

Updated November 05, 2020
4.3
Score breakdown
Pricing: 4
Regulation: 5
Popularity: 3
User Rating: 5 (1)

Traders Trust overall score rank: 6 out of 35

Traders Trust forex broker review
KEY TAKEAWAYS

  • Accepts Bitcoin deposits (not in the EU)
  • Low trading commissions from 1.5 USD
  • Leverage up to 500:1
  • Regulated in the EU

Regulations and Money Protection

5.0  


Entity Name TTCM Traders Capital Limited (BM) TTCM Traders Trust Capital Markets Ltd (EU)
Licence & Regulation Bermuda Registration Cyprus CySEC Licence
Client Money Protection ✔️ - segregated client money
Deposit Compensation Scheme ✔️
up to €20,000
Negative Balance Protection ✔️

Entity/Regulation

  • International customers: TTCM Traders Capital Limited will be the counterparty for International customers. This entity, with registered address at 5th Floor, Andrews's Place, 51 Church Street, Hamilton HM 12, Bermuda, is registered in Bermuda, with company number 54135.

  • European customers: TTCM Traders Trust Capital Markets Ltd, with address at Theodorou Potamianou 56, Aphrodite Complex, 4th Floor, Kato Polemidia, 4155 Limassol, is a Cypriot Investment Firm (CIF) under number 250591 and is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 107/09. The CySEC license allows TTCM Traders Trust Capital Markets Ltd to carry out brokerage activities in Europe, as an intermediary in the financial markets, respecting the MiFID obligations.

Client Money Protection

  • Traders Trust complies with the highest safety standards for client's funds. For this reason, Traders Trust client's funds are kept in top-tier international banks, such as the Hellenic Bank and the Piraeus Bank, fully segregated from the company's funds.

  • Traders Trust also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. Traders Trust holds client's money separately to the company funds and does not use these funds for any operational expenses or purposes.

Deposit Compensation Scheme

TTCM Traders Trust Capital Markets Ltd is a member of the Investor Compensation Fund (ICF), an investor compensation fund for CIF clients and its functions are regulated by the directive DI87-07 of the CySEC. If TTCM Traders Trust Capital Markets Ltd is unable to meet its obligations, clients might be entitled to compensation (up to the value of €20,000) per claim, irrespective of the number of accounts held, currency and place of offering of the investment service (within Europe).

Negative Balance Protection

  • For accounts opened via TTCM Traders Capital Limited (BM), there isn't a Negative Balance Protection mechanism in place, for the sake of no negative balance. Without NBP, TTCM Traders Capital Limited (BM) customers are not protected from any losses bigger than their original investments, in cases of extreme market volatility.

  • For customers of TTCM Traders Trust Capital Markets Ltd (EU), there is a default Negative Balance Protection mechanism in place, protecting retails traders only, from any losses bigger than their original investments, in compliance with the ESMA regulations.

Accounts, Instruments and Platforms

Accounts Instruments Platforms Social trading Maximum Leverage
✔️Classic
✔️Pro
✔️VIP
❌PAMM
✔️Islamic Accounts
✔️Forex
✔️Indices
❌Stocks
❌Futures
❌ETFs
❌Bonds
✔️Commodities
✔️Cryptos
✔️MT 4
❌MT 5
❌cTrader
❌Myfxbook
❌ZuluTrade

30:1 Europe

500:1 Rest of World

Account types and currencies

  • Traders Trust offers three types of trading accounts; Classic, Pro and VIP. Traders Trust also offers swap-free accounts for traders of Islamic belief.

  • Traders Trust does not allow, at the moment, for social trading, including copy trading.

  • Traders Trust doesn't offer any PAMM accounts alternatives for money managers.

  • Traders Trust maximum leverage is 30:1 for accounts opened within Europe and up to 500:1 for accounts opened in other countries around the world.

  • Currently, Traders Trust trading accounts are only available in USD, EUR, GBP, JPY, CHF, CNY and PLN (restrictions apply).

Financial instruments

Trading with Traders Trust can be done only via the Metatrader 4, available on web, desktop terminal and mobile versions. Traders Trust offers a limited selection of about 70 assets to trade, including Forex, indices, commodities and cryptocurrencies.

  • FX market - 40+ currency pairs (including Minor and Exotic crosses).

  • Indices - 8 world indices, including CAC 40, US 30 and GER 30.

  • Commodities - 4 commodities CFDs available for trading; 2 metals, with Gold and Silver and 2 energies, with UK Oil and US Oil.

  • Cryptocurrencies - 15 CFDs crosses for trading (not available to European clients) of the most popular cryptocurrencies against most of the Majors, including BTC/USD, BTC/EUR and BTC/JPY.

Pricing

4.0  


Pricing/
Account
Classic Pro VIP
Spread EUR/USD from 1.5 pip from 0.0 pip from 0.0 pip
Commissions (1 lot) from 6 USD from 3 USD
Minimum Deposit from 50 USD from 50 USD from 20,000 USD

Spreads

Traders Trust spreads are not the most competitive in the market, especially for the entry-level account (Classic). For the most traded pair, the EUR/USD, the spread starts at 1.5 pip, with an average of 1.8 pip. We consider this value higher compared with other brokers. On the positive side, with a Pro or a VIP account, both ECN modelling, the EUR/USD minimum spread is 0.0 pip (typically 0.4 pip).

To access the better trading conditions of the Pro and VIP accounts (lower spreads), the cost is a broker commission. With a Pro account, for the EUR/USD, the standard lot commission for 1 lot (100,000 units) is 6 USD, 3.0 USD per side/per lot. We consider this commission to be quite in line with other top brokers.

Things get even better with the VIP account. The trading commissions are quite low! Again, for the EUR/USD, the standard lot commission for 1 lot (100,000 units) is a very competitive 3 USD, 1.5 USD per side/per lot! The bad news? To qualify for a VIP account your will need to deposit or maintain a minimum account balance of $20,000, which could be a problem for a lot of traders.

Rollover Rates

Traders Trust swap rates, as of 19-10-2020, for 1 lot EUR/USD (100.000 units) stands at an average rate of -5.68 for holding overnight a long 1 lot contract and at -1.41 for holding overnight a short 1 lot contract. We consider these swap rates to be average when compared with the rollover rates offered by other top Forex brokers.

Deposits/Withdrawals and Other Fees

  • Deposit fees - Trading accounts can be opened in 7 different currencies and maintained via 9 different funding methods (only 4 for European customers), including cards, bank wires and e-payments such as Neteller and Skrill. Deposit funds are available almost instantly, except for bank wires. Regarding deposit fees, for accounts opened with TTCM Traders Capital Limited (Bahamas), Traders Trust does not charge any fees for deposits. For accounts opened with TTCM Traders Trust Capital Markets Ltd (in Europe) Traders Trust charges fees for deposits, except for the bank wires.

  • Withdrawals fees - Traders Trust applies the same policy for withdrawals (processing times vary from 1 working day). TTCM Traders Capital Limited (Bahamas) does not charge any fees for withdrawals, but TTCM Traders Trust Capital Markets Ltd (in Europe) does. For more information, please visit the Traders Trust Bahamas deposit and withdrawals dedicated page and the Traders Trust EU deposits and withdrawals page.

  • Inactivity fee - Traders Trust does not charge an inactivity fee or any account maintenance fees.

Popularity

3.0  


Forex Education Deposit Options Deposit/Withdrawals Fees Non expiring demo account Customer Support
Cards
Bank Wire
E-payments
✔️ ✔️ Multi language
24/5 Support
Live Chat

Opened for business in 2010, Traders Trust is a Forex broker that seems to fail in capturing the attention of new traders, as it's popularity is just average. Let's start with the not so popular side:

Trading is available only via the Metatrader 4, as currently no other trading platforms are offered. Also on the negative side, the lack of Forex educational material to help new traders in this highly-volatile market. The only thing that the broker offers regarding education is a weekly webinar.

Then, there's also the deposits and withdrawals policy for European customers. TTCM Traders Trust Capital Markets Ltd passes on the fees to EU clients when depositing, a rare case nowadays, when the majority of other EU regulated brokers are absorbing the deposit fees. So, higher trading costs for the European clients.

  • Trading accounts - Regarding trading accounts the most attractive one is the Pro trading account. This account is also a popular choice with traders looking for reduced trading costs and considered the best value based on their competitive spreads and trading commissions. Retail traders with very deep pockets can take advantage of the VIP account's ultra-low trading commissions.

  • Forex education - Traders Trust does not offer any educational materials and loses some popularity points for that.

Funding Methods Bank Wire, Bitcoin, Credit Card, FasaPay, Neteller, Skrill (Moneybookers), Webmoney, BitWallet
Support Languages English, French, Italian, Japanese, Spanish

  • Minimum deposit - Opening a trading account with Traders Trust is fairly easy and it can all be done via the web. Trading accounts can be funded using the traditional methods, cards and bank wire and also by Neteller and Skrill. Also available for traders opening an account via the TTCM Traders Capital Limited (Bahamas) entity, a few more funding options, such as Bitcoin, Perfect Money and FasaPay. The minimum deposit requirement (except for the VIP account) with Traders Trust is 50 USD/EUR/GBP. The minimum deposit for a Traders Trust Pro account is 2,000 USD (or the equivalent in other account currencies) and the minimum deposit for a Traders Trust VIP is 20,000 USD (or the equivalent in other account currencies). Also to note, if the VIP account balance falls below 20,000 USD, traders will lose the "VIP privileges".

  • Customer support - Traders Trust's multi language customer support service is available 24 hours, 5 days a week, in 5 languages. Traders Trust's support is available via direct phone call, email and through live chat directly from the broker's website.

Broker Profile

Traders Trust was founded in 2009 and is authorized and regulated in Europe by the Cyprus Securities & Exchange Commission (CySEC) and registered with the Registrar of Companies under Company number 54135 in Bermuda.

Traders Trust offers it's customers an innovative range of trading account and tools, ranging from economic calendar to VPS, a multilingual professional support staff, a high standard trading conditions, a strict safety of funds policy and subscribers with a market analysis prepared by industry experts, delivered directly to accommodate each trader's needs.

Traders Trust is committed to reliability, transparency and ethical trading practices. With a vast trading history and experience in the industry, Traders Trust is dedicated to delivering outstanding services and trading conditions on MT4 trading platform which offers traders flexibility and instant execution with no re-quotes.

Traders Trust has established itself as an online Forex and CFD broker offering a variety of tradable FX & CFD instruments at competitive rates and tight spreads from as low as zero.

Overall, on our Traders Trust review, the broker scores a better than expected 4.0 out of 5.0 as it is a good choice for traders looking for a regulated broker with guaranteed safety of funds (European customers only). On the downside, the very limited offering of trading platforms, the uncompetitive spreads of the Classic account and the lack of Forex educational materials available, are all ingredients that penalize the broker's cumulative rating.


Data supplied in partnership with CashBackForex - Forex Rebates places Traders Trust on the top 25 brokers for popularity with traders opening an account in 2020.


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