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

RECOMMENDED FOREX BROKERS

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

 

Trustedoptionfx represents an example of a low-effort scam posing as a forex broker. But since this type of scam targets people who have little knowledge of financial trading, it is worth looking at the clues that this is indeed a scam. In this review, we will also recommend more trustworthy investment brokers.

Trustedoptionfx Regulation and safety of funds

Guaranteed FundsSegregated AccountsNegative balance protection
Trustedoptionfx
UK regulated brokers£85 000YesYes
EU regulated brokers€20 000YesYes
AU regulated brokersNoYesYes
US regulted brokersYesYesNo

If a financial services provider is legitimate, you will find on its website clear and detailed information about the company that owns and operates it, where it is based, and what licences it has. Genuine brokers also provide access to a comprehensive set of legal documentation. The availability of such information does not guarantee that it is not false or misleading. But the absence of these elements is very indicative that in all likelihood you are dealing with scammers.

The website claims to be operated by a company named Trustedoptionfx LTD, based in the United States.

But we find no evidence that such a company actually exists, let alone that it is among the few authorised brokers in the United States. The regulator in another leading financial centre, the UK, has issued a warning to investors that Trustedoptionfx is not authorised.

If you want to trade on financial markets without being scammed, you can turn to some of the legitimate brokers that actually operate from established financial hubs like the UK. These brokers have to meet stringent requirements for financial stability and transparency of operations imposed by the Financial Conduct Authority (FCA).

They must provide clients with negative balance protection and to participate in a guarantee fund that covers up to GBP 85,000 of a client’s investment should the broker go into insolvency. These brokers are also required to keep their clients’ money segregated from their own operating funds in separate bank accounts.

Trustedoptionfx Trading software

Analytical toolsAuto tradingCustom indicatorsMobile apps
Trustedoptionfx platform
MT430+ indicatorsAndroid and iOS
MT550+ indicatorsAndroid and iOS
cTrader40+ indicatorsAndroid and iOS

At the time of writing this review it was not possible to register a new account. Because of this, we were unable to determine if Trustedoptionfx  had any trading software available. It should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading. Many scammers use rigged trading software to fool their victims that their money is being invested.

Legitimate brokers offer clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

Trustedoptionfx Trading instruments

CurrencyStocksIndicesCryptoCommodities
Trustedoptionfx
XMYesYesYesNoYes
FBSYesYesYesYesYes
FXTMYesYesYesYesYes

Trustedoptionfx has neither the legal authorization nor the technological capacity to facilitate trading in financial instruments. There is no good reason to trust this fishy website instead of a duly licensed and established broker.

Trustedoptionfx Spreads and cost of trading

TrustedoptionfxXMFBSFXTM
Spread EURUSD0.611.1
Spread GBPUSD1.31.21.4
Spread USDJPY1.31.21.4

Trustedoptionfx does not provide any information about the terms of trade it claims to offer. When you visit the website of a legitimate broker you will find proposals for different types of trading accounts suitable for investors with different preferences, as well as detailed descriptions of trading parameters – minimum deposit, order execution method, tradable financial instruments, leverage, spread, swap, commissions, etc.

Trustedoptionfx Maximum leverage

ForexStocksCryptoGoldIndices
Trustedoptionfx
UK regulated brokers30:15:110:110:1
EU regulated brokers30:15:12:110:110:1
AU regulated brokers30:15:12:110:110:1
US regulated brokers50:1

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders.

Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.

If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

Trustedoptionfx Deposit and withdrawal methods

Due to our inability to register an account, we were unable to ascertain what payment methods Trustedoptionfx uses. Experience has shown that fraudsters direct their potential victims to cryptocurrency transactions that do not allow refunds to be requested.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller.

Trustedoptionfx Minimum deposit

TrustedoptionfxXMFBSFXTM
Minimum depositN/A$5$10$5

The leading brands in the industry offer beginner traders starter accounts with a very low minimum deposit. You have no good reason to take chances with shady brokers like Trustedoptionfx.

Trustedoptionfx Withdrawal requirements

Trading volumeFee/Tax on withdrawalMinimum withdrawal
TrustedoptionfxNot specifiedNot specifiedNot specified
UK regulated brokersNoNoNo
EU regulated brokersNoNoNo
AU regulated brokersNoNoNo
US regulated brokersNoNoNo

The lack of a publicly available Terms and Conditions or Client Agreement means that scammers may have set many traps such as hidden fees and impossible-to-meet  withdrawal terms.

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BrokerCountryRatingMin. DepositWebsite
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