TRS Markets review – 5 things you should know about trsmarkets.com

TRS Markets review – 5 things you should know about trsmarkets.com

Rating: 1

Beware! TRS Markets is an offshore broker! Your investment may be at risk.

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TRS Markets is a big broker, filled with information and claims, with promises of fair trading, etc. The name suggest a professional conduct, and the website does achieve to convey that air of slick professionalism that many others have attempted at before it. So why are we skeptical? Isn’t TRS Markets a safe environment for traders to thrive in? The review reveals why we do not trust this brokerage firm. We wont hold you back any more; read on.

In order to register, TRS Markets has offered on of the most common method of registering, that has been used only by illegal brokers in previously reviewed cases. The resulting dashboard was expected.

Anyway, we were able to open two trading terminals. One gave us a EUR/USD spread of 3 pips, while the other (for the same currency pair) got us 8.2 pips. Both costs of trade are in no way lucrative to traders, with the latter being absolutely ludicrous. The fact is, that the only winning party with such a high spread is TRS Markets. The leverage was capped at 1:100. Both platform gave us the following trading assets: forex pairs, commodities, crypto, indices, and shares

The official languages of the website are English, Russian, Polish, and German.

TRSMARKETS REGULATION AND SAFETY OF FUNDS

TRS Markets comes with a messy set of regulatory/incorporation information pool, that we have attempted to shed some light on.

The certificate of incorporation that can be found in the website is not in any way connected to the broker at hand.

And from the snip you can see why. The Certificate clearly certifies a completely different entity.

Next, we have the footer where TRS Markets indicates a license by UK SIC 66110. In fact, the UK SIC is nothing more than proof that the company is incorporated. SIC stands for Standard Industrial Classification, while the numbers are used to identify the nature of the firm’s activities. And even though stock exchange activities and commodity options exchanges (among others) are classified inside the UK SIC Code 66110, in no way is this an FX trading license. The FCA is the only agency in the United Kingdom that can give away licenses, and it has not given one to TRS Markets.

The end result out of all of this is that TRS Markets in UNLICESNED, and a risk to all investments.

Traders should be trading with risk-free brokers, that hold licensed from renowned and austere agencies, like the FCA  or CySec , which have made a name for themselves as some of the top regulators. Readers should be aware that both agencies have adapted very strict rules of conduct, and their licensing framework guarantees safety and security for all clientele. A good example of this is the segregation of accounts which assures that client money and broker money are kept in separate accounts. Furthermore, FCA/CySEC brokers participate in a financial reimbursement scheme that cover traders losses in case the broker becomes insolvent. The FCA provides up to 85 000 pounds per person, while CySEC guarantees up to 20 000 euros.

TRSMARKETS TRADING SOFTWARE

We had the choice between two very different trading platforms: The MT4 and the Status WebTrader.

The MT4 was a nice surprise, but it is on this terminal that we got the ridiculous 8.2 pip spread. So, basically because of this spread the MT4 is unusable.

As for the Status WebTrader, all of you should be aware that this is one of the most popular platform that has been used for a while now by all kinds of scammer brokers.

What the Status WebTrader has at s it’s main weapon is its visual, which we admit to like. The platform uses its aesthetics to attract users, but in reality the office has close to now features. Aside from pending orders, one point clicking, and copy trading, there is nothing keeping you here. The MT4 has so much more.

TRS Markets does not allow its users to keep an open trading position for more than 21 days. After this period, the company has the right to close down said position.

TRSMARKETS DEPOSIT/WITHDRAW METHODS AND FEES

The minimum required amount to open an account is $250. Users can deposit with Interkassa, OAcquiring, Credit card, PayOp, and Itez – a bitcoin buying website. Overall, very suspicions payment methods.

Furthermore, we found a peculiar clause in the Terms and Conditions that allows the broker to shorten or supplement the deposit form. This is a puzzling clause to us, yet we feel like it can be a game changer, and not in the good way.

We found no info on withdrawal processing times. The minimum withdrawal amount is $10. One of the fees is activated with client who have made a less that 5 transactions. The commission is 5%.

It’s not surprising that the broker has included other fees and commissions that it has, purposefully, not clarified. This is a common move on the part of unlicensed brokers.

Bonuses must pass a turnover requirement, before being able to be withdrawn. For a bonus up to $10 000 the broker requires users to trade $10 million for each $1000 bonus granted. For a bonus between $10k and $30 000, the trading volume is required to be $20 million for each $1000 bonus, And, for the bonus of $30 000 or over, the user has to trade $30 million for every $1000 bonus received. What can we say, aside from that this is absolutely ridiculous, and in no way worth it!

Last, we have the indemnification clause that limits the liability of the broker to no liability at all, basically making it innocent of any damages it causes to its users.

In no way are all these clauses flashy or controversial, as is the case with many previous brokers. Yet, we urge users to always be on the lookout for additional clauses should you decide to risk it with TRS Markets for some reason.
Our advice will remain the same: seeing that the broker is unregulated and has its fair share of practices that come with the lack of a regulation, we do not recommend using it at all! All you funds will be lost!

How does the scam work?

The usual scam operates on a multi-level, though very basic model. The users will be tempted to click on an Internet ad promising quick and easy profits. If they do, it will take them to a website that will ask for their personal details, including email address and phone number. Once they submit this information, an avalanche of emails and phone calls will be unleashed. Scammers will promise the world to these potential traders in order to induce them to make an initial deposit between $200 and $300.

These “brokers” will get a fat commission from the deposited sums and will transfer the unsuspecting users to “senior” scammers. The latter are smooth talkers who will try to persuade users to invest more funds, using phrases like “now is the right time” and “the moment is perfect for making hefty profits”. Of course, these are empty words, and traders will soon have doubts whether they have not been played.

When they try to withdraw their money, these doubts will be confirmed: the con-artists will do anything to deny or at least delay their withdrawals. From trying to convince the traders that they are making a big mistake to withdraw funds now because they will lose big profits, to asking for additional documents or citing clauses in the accepted agreements, to transferring you to another department, there is a single objective to delay the users from filing for a chargeback with their financial institution and lose any chances of recovering their money.

What to do when scammed?

Anyone can fall prey to such a scam. In the unfortunate event this happens to you, there are a few things you can do. If you deposited using a credit card you should immediately file for a chargeback. In an effort to combat online fraud VISA and MasterCard have extended the period in which one can file a chargeback to a year and a half, so there is a big chance that you may be able to recover your funds. If however, you used a bank wire or bitcoin to deposit, chances to get your money back are almost none.

We should also warn against “recovery agencies” who prey on victimized traders by claiming they can recover their funds. These scammers will ask you to pay a fee for this service, but will only take your money and do nothing.

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14 Comments

  1. Good evening
    The same thing happens to me
    This company Trsmarkets.com is a scam
    I try to take my deposit 250 euro back to my account
    I paid by the card Visa
    Please advise me how to do the chargeback?
    Thank you

  2. Hi, thanks for the article. It saved me from this scam.
    I didn’t invest or share my bank details, however they have my phone number and email. They rang few times, no emails yet. I asked them to delete my data as per GDPR as there is no way on their portal to close the account or change personal info.
    the reply I got was a threatening: ‘I can stop calling you but I can’t guarantee that other companies, even fraudulent ones, will continue to call’
    I asked what he meant but got no answer, just a pretty aggressive tone demanding to know why I changed my mind about investing with them.
    Do you have any advise on how to stop the calls and more importantly can they do anything worse with the info they have other than just ring me?
    Thank you

  3. Hello,
    TRSMARKETS is a ghost company that only fools and promises to steal as much money from you as possible.
    I opted for the solution to report them to my bank to block the money paid to them.
    I had many conversations on WhatsApp with them in which they admitted that they will not return the money and that they are lost. They always insist on telling you why you don’t want to get rich, it’s just a matter of marketing and subliminal influence to make you change your mind.
    The result is only one: you will not only lose the starting money but you will lose much more.
    Ask the banks to refuse payment and return your money.

    1. Niște escroci ! Mi-au luat 6000 euro. M-au momit precum că nu este valabilă înscrierea la Kado-capital după ce au luat datele de la ei. Sub pretext că al meu cont nu este eligibilt datorită împrumutului la bancă,am transferat inițial 4000 euro,apoi pentru a-mi înapoia banii cu acel câștig din criptomonedă(8000 euro în total) au motivat că trebuie plătite taxe ce se ridicau la 3000 euro. Nu am avut decât 2000,a venit el drăgălașul de broker cu 600. Toate bune și frumoase,mail primit că banii au fost virați dar de ajuns pe card,nimic,0 absolut. A răspuns că necesită mai multe taxe și lucrează “din geu” la cazul meu apoi liniște deplină. Îmi ia un an să restituie cei 6000 de euro prietenilor.Sper să nu mai pățească nimeni că mine !
      ————————————
      Some crooks! They took 6,000 euros from me. They lured me as if it was not valid to register for Kado-capital after taking the data from them. Under the pretext that my account is not eligible due to the bank loan, I initially transferred 4000 euros, then to return my money with that cryptocurrency gain (8000 euros in total) they motivated that fees amounting to 3000 euros must be paid . I only had 2000, he came the cute broker with 600. All good and beautiful, mail received that the money was transferred but enough on the card, nothing, 0 absolutely. He replied that he needs more taxes and works “out of the blue” in my case and then in complete silence. It takes me a year to return the 6,000 euros to my friends. I hope no one else suffers like me!

      1. Buna ziua, cu cine ati vorbit de la ei? Va aduceti aminte vreun nume? Jhon shell cumva?…
        ——————————–
        Hello, who did you talk to them about? Do you remember any names? Jhon Shell somehow?

  4. Hello,
    I talked to a guy who was recommended to be Nick White.
    I solved the case as follows: I submitted to the bank a refusal form for payment – (I made the transaction at the beginning of September, the refusal form on October 14, the refund was made on October 28. The amount traded was 250 euros) – and in 14 days my amount was returned.
    I also attached on request WhatsApp screenscreens with them in which they acknowledged that it is my money, but they will not return it to me. That they would think if they did this, that this is not the time now, and they were always trying to make me change my mind and I kept passing from one consultant to another.
    I don’t know how the bank solved the return of the money, but it is certain that an extra transaction appeared in my account with the mission: I refuse to pay the amount of 1240 Ron, the equivalent of 250 Euro.
    Try the same thing. Maybe you have a chance to win. Moreover, you have nothing to lose.
    Success!!
    Daniel

    ———————————–

    Salut,
    Eu am vorbit cu un tip care s-a recomandat a fi Nick White.
    Eu am rezolvat cazul in felul urmator: Am depus la banca un formular de refuz la plata – (tranzactia am facut-o la inceputul lunii Septembrie, formularul de refuz in data de 14 Octombrie, returnarea banilor a fost facuta in data de 28 Octombrie. Suma tranzactionata a fost de 250 euro) – si in 14 zile mi-a fost returnata suma.
    Am atasat la cerere si printscreenuri de pe WhatsApp cu ei in care recunosteau ca sunt banii mei, dar nu mi-i vor returna. Ca se vor gandi daca vor face acest lucru, ca nu e momentul acum, si incercau mereu sa ma faca sa ma razgandesc si ma tot pasau de la un consultant la altul.
    Nu stiu cum a rezolvat banca returnarea banilor, dar cert este ca in cont mi-a aparut tranzactie cu plus cu metiunea: Refuz la plata cu suma de 1240 Ron, echivalentul a 250 Euro.
    Incercati si voi acelasi lucru. Poate aveti sanse de castig. Mai mult de atat nu aveti ce pierde.
    Succes!!
    Daniel

    1. Salut,
      multumesc frumos pentru raspuns!!
      si eu tot cu un Nick White am vorbit la inceput… suma pe care trebuie, sau as vrea sa o recuperez se duce la 1500 Euro… cu ce banca lucrezi ca a reusit sa iti recupereze bani?
      Mumltumesc

      1. Salut ION,
        Banca OTP.
        Am trimis instiintare si catre JUBITER, platforma prin care ei isi iau banii. Am primit suport si de la ei. Cu cat mai multe plangeri catre JUBITER, cu atat mai multe sanse sa ii blocheze la bani.
        Succes!

        1. Hi Daniel,
          thank you very much!
          they keep calling me from TRS MARKETS to tell me that they want to give me money back… but I never manage to transfer money… I said that I just want no money and they keep calling, and that the balance in my account has increased to 4000 of euro… .. :)))) I submitted documents and complaint to the bank, we’ll see what happens…
          Thank you again
          ———————–
          Salut Daniel,
          multumesc frumos!
          ma tot suna de la TRS MARKETS sa mi souna ca vor sa mi da bani inapoi… dar niciodata reusesc sa vireze bani… am zis ca numai vreu nici un ban si ei suna in continuare, si ca soldul in contul meu a crescut pana la 4000 de euro…..:)))) am depus acte si plangere la banca, vedem ce sa intempla…
          Multumesc inca odata

  5. Jarden Brooks is the name of the broker. BCR failed to recover my funds and Jubiter keeps sending me emails as if I don’t understand why I want my money back.
    ———————————–
    Jarden Brooks este numele brokerului. BCR-ul nu a reușit să-mi recupereze fondurile și îmi tot trimit mailuri cei de la Jubiter precum că nu înțeleg de ce vreau banii înapoi.

  6. Do not trust this broker, they are scammers. My dad can’t get his profit nor deposit back. They are not answering the calls, emails, rejecting his withdrawals. BEAWARE SCAM!!!

  7. Trsmarkets is SCAM !! I lost $ 250 and had to block all my personal documents because I shared the data with them. Teamviewer connects to your computer by clicking to show what it looks like. Unfortunately, I have a poor chance of recovering the money because the transfer was to Blik and I have no way of reporting. After informing that we are terminating cooperation, Mr. Adam was appalled and as I added that they do not have a legal license, he was already upset, after one day the manager called Sebastian received the same information from me that he wanted to end the cooperation, but they continued their agreement, etc. After reporting to the law firm of this case told them to communicate with me only officially via email from that moment on.
    ———————————-
    Trsmarkets to SCAM!! Ja straciłem 250$ i musiałem zablokować wszystkie dokumenty osobiste gdyż udostępniłem im dane. Łącza się przez teamviewer z twoim komputerem klikają pokazują jak to wygląda. Niestety mam marne szanse odzyskać pieniądze bo przelew był na Blik i nie mam jak zgłosić. Po poinformowaniu że kończymy współpracę pan Adam był zbulwersowany a jak dodałem że nie mają legalnej licencji to już był zdenerwowany, po jednym dniu zadzwonił manager Sebastian dostał odemnie ta sama informacje ze chce zakończyć współpracę ale oni dalej swoje, że mamy umowę itd. Po zgłoszeniu do kancelaria prawnej tej sprawy kazale im się ze mną komunikować tylko oficjalnie przez email od tego momentu cisza.

  8. These guys are total scammers. Anytime you want to withdraw your money, they never answer any emails and someone from the “Finance” department will call you to try to get you to install “any desk” so that they can remotely connect to your computer remotely. They’ll even change your login password so that you can’t login anymore and will not send a password recovery email to change it. Try to get your bank to recover your money as soon as possible and leave a review so more people can be made aware of these disgusting scammers.

  9. The TRS team are a nasty piece of work. They became snobbs and bullies when I refused to make any additional investment. I’ve been locked out of my account and still have not received the password recovery email to enable login. Be warned

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