RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Reviewing a broker like Trust Capital TC is a rather rare occasion – not only is the company licensed, but it is also fully transparent about it’s trading conditions and fees. This already makes it significantly better than your average offshore broker – but there are a lot of legitimate brokers nowadays. How does Trust Capital TC stack up to them? Find out in the following review!
Trust Capital TC regulation and safety of funds
Here is what Trust Capital TC has to say about its regulation:
Let’s tackle the claim that the broker is licensed in Cyprus first – the island nation is actually one of the EU’s biggest markets. Therefore, the regulatory body that watches over that market, the CySEC has a strong set of rules in place to prevent any form of scam from taking place – from example, brokers are required to report on a daily basis on open and closed trades to ensure no market manipulation takes place.
The CySEC also has made sure that the funds of EU brokers’ clients are safe from the volatile markets – and to achieve that, the regulator has made all brokers have to participate in guarantee funds. In the case of a company going under, its clients are entitled to a compensation of up to 20 000 euro per affected person. As you can see, this presents a strong incentive to trade with brokers licensed there. We looked Trust Capital TC up in the CySEC register:
The broker was present there, and has been since 2018. We should also check with the FCA as well – that is the regulatory body of Britain. Trust Capital TC states it is licensed under it – and we looked in that register as well:
Please note that Trust Capital TC is licensed there under the Temporary Permissions Regime in the UK – after the country withdrew from the UK it stopped recognizing brokers from the Union as licensed, but allowed the ones on the markets to continue trading temporarily. This means that in the future Trust Capital TC will have to either get a separate FCA license, or give up on the UK markets.
But, for now Trust Capital TC has a license from not one, but two of the world’s best regulators – this makes it quite safe to trade with the company!
Trust Capital TC trading software
Trust Capital TC provides access to a distribution of the Metatrader 4 platform – the industry standard, revered for its powerful automated trading features. Here is what Trust Capital TC’s distribution of it looks like:
The spreads on it are a bit wide, sitting above the generally accepted 1 pip margin for common FX pairs like EURUSD, but Trust Capital TC never advertised lower spreads. The leverage it provides is capped to 1:30 as per EU regulation. In fact, most regulatory bodies impose a similar cap on leverage – anything significantly over it is a sign of an unlicensed company!
Trust Capital TC deposit and withdrawal methods and fees
Here is a comprehensive list of all the deposit means Trust Capital TC accepts and the fees it charges:
The broker accepts a wide variety of payment methods – credit cards, Neteller, Skrill and even PayPal, as well as wire transfers. They all have different chargeback policies, but with a licensed broker like Trust Capital TC, needing to file a chargeback is not really going to be a common occurrence. The cost to open an account sits at $250. Once again, this is not really competitive per se, when most licensed brokers offer to open accounts for $200 at most, and have micro accounts available for even less – $10 in general.
The fees however are a bit high – especially considering that there are brokers out there that waive them completely as a sign of good faith. Trust Capital TC also charges a fee on dormant accounts – if an account has been inactive for a month, it will be charged $5 monthly. This is a reasonable fee and not more than what brokers generally charge.
Trust Capital TC is a rather compelling broker – licensed, regulated and upfront about its fees. All of these qualities are rarely seen nowadays, when nine out of ten brokers are offshore scams. If you wish to invest with a broker, make sure it is one like Trust Capital TC!