Thinking of getting into business with Tronxfxtrade? Here is what you must know about this broker. Carefully read this review to find out if tronxfxtrade.com is the trading platform you will want to trade with.
Table of Contents
About Tronxfxtrade
Tronxfxtrade is an offshore brokerage company with a lot of promises for traders. The address of the broker shows United Kingdom.
There are different investment plans the broker offers.
Added, it trades on the following instruments like forex, stocks, commodities, crypto, bonds and indices.
To clarify, regardless of the trading instruments Tronxfxtrade claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
tronxfxtrade.com: Reasons to Avoid This Broker
Firstly, tronxfxtrade.com is a platform with no financial authority overseeing its financial services. We discover the broker is not worth your money as Financial Conduct Authority (FCA) UK has blacklisted the broker. Sadly, Tronxfxtrade has a broken legal documents that provide no relevant info at all.
Secondly, we noticed andersfx.com has no demo account for traders. Since traders can’t test the broker on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Withdrawal and Deposit
Withdrawal process
Tronxfxtrade leaves us with no specific information on processing days nor withdrawal fees. Truly, this broker is a scam and its fraudulent schemes are clear.
Minimum Deposit
Tronxfxtrade minimum deposit is pegged $1,000 according to the account type.
As for the payment methods, the broker mentions cryptocurrencies. Truly, you should not consider making any payment with this broker because it is a risk. So beware!
Tronxfxtrade Platform
Tronxfxtrade offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious.
As for the leverage, the broker discusses nothing for traders. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Tronxfxtrade Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Minimum Trade Deposit $100
Maximum Leverage
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Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion: Is tronxfxtrade.com a Reliable Broker?
No, tronxfxtrade.com is not a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
We owe our readers the duty to fish out scam forex brokers as well as share reasons to avoid fraudulent schemes. Meanwhile, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
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