Can TrioMarkets Be Trusted? Find Out In This TrioMarkets Review
How do you trust a Forex trading company and determine its authenticity? How do traders know whether a company is responsible in its approach and whether they stand by their promise of offering regulated and secure financial products?
In the modern age of internet and stiff FX broker competition, traders are treated to one of the largest collections of Forex brokers ever witnessed in the financial markets. Therefore, it is essential for traders and investors to browse through the best online information that helps them to choose the best FX broker for their investments. TrioMarkets is a relatively newer addition to the Forex markets, having been introduced to global retail traders back in 2014.
TrioMarkets is owned and operated by three financial professionals, who have more than 15 years’ of experience in the financial markets. TrioMarkets is a brand name that is owned by EDR Financial Ltd., a company registered in Cyprus as a Cypriot Investment Firm (CIF). In this TrioMarkets Forex broker review, traders will be offered some of the most comprehensive information about the broker’s core operating protocols, account features, benefits, drawbacks, and safety of funds, which should assist you in your endeavors to discover a top rated Forex broker in the market.
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TrioMarkets Regulation & Compliance Under the CySEC & The MiFID
TrioMarkets is a Cypriot Investment Firm and is as such regulated by the Cyprus Securities and Exchanges Commission (CySEC). The CySEC offers regulatory protection to traders and investors under the European Markets in Financial Instruments Derivatives (MiFID), which has created a uniform regulatory framework for all financial companies operating in the EU. TrioMarkets is primarily a European Forex broker that has the authority and the regulatory clearances to operate across the European Union through a valid European license. The European Economic Area (EEA) agreement, which serves as a free trade pact between EU member nations, allows TrioMarkets to offer its services and products to traders from all over the EU without any additional regulatory licenses.
Although TrioMarkets only has a CySEC license, the broker is obliged by law to be registered with all the other participating regulatory organizations in the EU. Therefore, in the event of any financial discrepancy, TrioMarkets will be subjected to legal and regulatory sanctions from the regulatory agency concerned. Therefore, EU regulation clearly holds TrioMarkets accountable for its actions, which does offer a better sense of consistency for investors. As part of its regular licensing routines, the CySEC requires TrioMarkets to display evidence of sound management principles that work towards ensuring a safe and secure trading environment.
TrioMarkets is required by European laws to hold at least €1 million in operating capital and is bound by the CySEC to ensure that the broker is capable of meeting its clients’ debt obligations without fail. In order to protect traders from broker malpractices, TrioMarkets is carefully audited by the CySEC, and the regulator also instructs the broker to hold its clients’ funds in segregated accounts. Keeping customers’ money in a separate account will not only increase transparency, but it also helps the broker and the regulator to clearly differentiate between the broker’s operating capital and clients’ trading capital.
Moreover, TrioMarkets also offers protection to its investors regarding the safety of funds against broker insolvency, as the CySEC has developed the ICF (Investor Compensation Fund) to offer compensation of up to €20,000 in case the broker goes into default. Therefore, regulation and the security of trading accounts are not immediate concerns at TrioMarkets.
The Varied Choice Of TrioMarkets Platform Options & Functionalities
TrioMarkets only offers the standard MT4 as its primary trading platform, but what makes a TrioMarkets trading platform special is the allied features, tools, and platform specifications available with a TrioMarkets account. For instance, the broker supports an additional extension to the standard MT4 terminal in the form of an MT4 TRIO XTEND plugin, which improves the platform’s existing functionality and reliability to a greater extent.
The TRIO XTEND version is fully loaded with cutting-edge solutions such as sentiment trading, news, market data, advanced trade execution, and innovative management tools, all of which offer the most comprehensive access to the Forex market. TrioMarkets also supports the use of social trading tools, FIX API, and VPS, along with the ability to manage funds and invest in other trader’s accounts through the PAMM feature.
Apart from the regular desktop and mobile connectivity, MT4 is also available for TrioMarkets mobile trading users through the MT4 WebTrader, or through the TrioMarkets mobile apps that are designed for iOS and Android devices. TrioMarkets has certainly ticked all the right boxes in terms of its platform options, which is one key factor that showcases the broker’s dedication to offering the best trading platform for its clients.
Choosing A TrioMarkets Account From The Different Account Options
TrioMarkets may have gone slightly overboard with its different account packages, as there are multiple options and account variations offered by the company. The most basic account at TrioMarkets is the Standard account with a minimum investment requirement of $500, which is not low by any modern standards. The $500 Standard account offers STP trading conditions that have a maximum TrioMarkets leverage of 1:300, along with real-time spreads starting from 1.4 pips.
The Standard account is an average account offering, which neither has any amazing features nor do they lack in any specific department either. TrioMarkets has developed an ECN account for its traders in the form of an Advanced account, which is available for a minimum deposit of $10,000. The Advanced account has two different options, the Raw Spread Account and the Commission-Free Account.
The Raw Spread Account should offer you 0 pip spread trading in exchange for a commission of $5.5 per traded lot, while the Commission-Free account has a starting TrioMarkets spread of 1.1 pips. The leverage of the Advanced Account is also reduced to 1:200, which means that the Advanced Account is designed as per the conventional account features that are available at other mainstream Forex brokers.
The broker also offers a Premium Account in two different forms, the Raw Spread Premium Account and the Commission-Free Premium Account, which are reserved for minimum investments starting from $50,000. The only advantage of a Premium account is the lowered spreads and commission, where the commission for the Raw Spread account starts from $4 per traded lot for a 0 pip spread guarantee. On the other hand, the Commission-Free Premium account gets raw spreads at 0.8 pips, which is certainly one of the best spreads available in the market.
Making a payment for deposits and withdrawals at TrioMarkets can be facilitated through PayPal, Neteller, Skrill, WebMoney, Bank Wire, and Bank Wire. Although the broker promises to offer instant deposits that are free of charge, withdrawals are only processed after 24 hours from the time of the request, at the expense of a 3% convenience fee. Of course, withdrawals during the weekends may take additional time, as the broker only offers customer support during five days of the week through regular market hours.
How Does TrioMarkets Services Fare In Comparison To Other Brokers?
TrioMarkets has pretty high standards for its trading services, but the initial investment requirements are also on the higher side. Of course, the cost of trading is highly competitive, but the initial investment barrier, along with the high withdrawal fees may not be acceptable for most traders. Nevertheless, you may trade on a TrioMarkets demo account to experience the broker’s services firsthand, or select any of our other commended Forex brokers for better trading account packages at reduced cost of trading.