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

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Trustworthyfxplatform tries to convey through its name that it is a trustworthy platform for forex trading. But even a basic inspection of this website reveals that the truth is quite the opposite. Trustworthyfxplatform is nothing more than yet another online scam targeting people without enough experience and knowledge about trading financial instruments.

Trustworthyfxplatform Regulation and safety of funds

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

The first thing to look for in a forex broker’s website is which legal entity runs it, where it is based and what regulatory oversight it is subject to. Licensed companies are also required to provide a comprehensive set of legal documentation.

Trustworthyfxplatform does not disclose which company is behind the website and the link to the Terms and Conditions is empty.  If you don’t know exactly who you are dealing with and what the terms of the deal are it would be an obvious mistake to put your money on the line.

There is one Privacy Policy on the website, which is on behalf of a completely different brand – AlertSignalsNation. This links Trustworthyfxplatform to a number of other fake brokerages we have come across, for example UnlimitedWorldwide WinningPlatform, Ultimatefxworld and Iclivetrade.

Trustworthyfxplatform provides contact addresses in the United Kingdom and the United States. These addresses are undoubtedly fake because such an anonymous website is not allowed to offer financial services in regulated jurisdictions.

The British financial authorities have confirmed this by blacklisting Trustworthyfxplatform.

Under no circumstances should you trust your money to such anonymous websites full of false and contradictory information. Instead, you can turn to one of the many companies that really work under the supervision of respected regulatory bodies like Cyprus Securities and Exchange Commission (CySEC) or Financial Conduct Authority (FCA) in the UK.

As their customer you will enjoy a number of guarantees including negative balance protection and guarantee for your funds if the broker goes bankrupt, which goes up to EUR 20,000 in EU and 85,000 GBP in the UK. Regulations in the UK and EU include some important measures designed to improve investor protection and promote market integrity and transparency, such as transaction reporting. Regulated brokers are also required to segregate their operational funds from the client’s money.

Trustworthyfxplatform Trading software

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

Another obvious clue that Trustworthyfxplatform is a scam is the lack of trading software. This alleged broker has no technological capacity to facilitate trading in financial instruments.

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).

Trustworthyfxplatform Trading instruments

CurrencyStocksIndicesCryptoCommodities
Trustworthyfxplatform
XMYesYesYesNoYes
FP MarketsYesYesYesYesYes
Octaxxxxx

Trustworthyfxplatform has neither the license nor the software necessary to truly offer the services it advertises. If you want to trade in the financial markets you should only do so through licensed brokers.

Trustworthyfxplatform Spreads and cost of trading

TrustworthyfxplatformXMFP MarketsOcta
Spread EURUSD0.61.20.9
Spread GBPUSD1.31.5x
Spread USDJPY1.31.5x

Trustworthyfxplatform does not provide any information on the parameters of the trade it claims to offer. Instead, on the website we see promises of guaranteed profits.

A genuine broker will not and cannot promise you guaranteed profits. In fact, licensed companies are obliged by regulators to warn their clients about the high risk of losses when trading financial instruments.

Trustworthyfxplatform Maximum leverage

ForexStocksCryptoGoldIndices
Trustworthyfxplatform
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

Trading with high leverage allows higher profits, but also increases the risk of sudden and excessive losses proportionally. All leading regulators limit 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.

Trustworthyfxplatform Deposit and withdrawal methods

Deposit timeWithdrawal timePrice
Crypto24 hours24 hoursFee depends on crypto

Trustworthyfxplatform only allows the deposit of funds with cryptocurrencies. This is typical of financial scammers. Cryptocurrencies are their payment method of choice because on the one hand they allow the scammer a degree of anonymity, and on the other hand they do not allow the scammed to ask for a refund.

If you’re interested in legitimate brokers that accept digital currency payments alongside conventional methods, check out this list.

Trustworthyfxplatform Minimum deposit

TrustworthyfxplatformXMFP MarketsOcta
Minimum deposit£500$5$100$100

Trustworthyfxplatform requires a minimum deposit of 500 GBP. For a significantly lower amount you could become a client of a duly licensed and established forex broker.

Trustworthyfxplatform Withdrawal requirements

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

Since Trustworthyfxplatform does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible through huge fees and impossible-to-fulfil traded volume conditions.

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