Forex trading has for many years been considered to be very risky business. It still is risky business, but over time people have developed brokers that reduce the risk that has previously been present with every single exchange. There is huge numbers of these brokers in the market that have been developed over years. However, sometimes it is a good thing to be new thing in the plenty of already existing similar things. This can be applied to the TrioMarkets Forex broker. The rapid development of the brokers for Forex trading indicated that there was a need for new approaches to Forex trading and these brokers delivered exactly that. TrioMarket, one of the youngest Forex brokers in the market is providing their clients with some of the latest technological solutions when it comes to the Forex trading. In general, a trader should be very careful when it comes to choosing the right broker that he or she will use for Forex trading because some of those brokers might not be legitimate as it seems. This review will focus on TrioMarkets and it will provide the basic information about this broker that will hopefully help the reader while selecting the right broker for Forex trading.
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Background and Regulation
One of the most important issues that a trader needs to take into consideration is whether or not the broker they are considering is registered and licensed by some of the agencies that deal with that kind of business. In the case of TrioMarkets broker, we can say that this Forex broker has been registered and licensed by the same regulatory agency and that agency is Cyprus Securities and Exchange Commission or CySEC. Even though CySEC does not have as strict regulations as for example FCA or Financial Conduct Agency from the United Kingdom it is still one of the most reliable agencies when it comes to the reliability of the Forex brokers. This Forex broker was founded back in 2014 and it is registered under the name EDR Financial Ltd with TrioMarkets being their trading name. As already said, this Forex broker is registered and licensed by CySEC which means that it has to hold at least $1,000,000 that will serve as proof of their financial stability. Besides that, CySEC also requires the compensation scheme that also serves as method of protecting the funds of the clients. Since CySEC is a part of the European MiFID regulations, those brokers or companies that get regulated and licensed by CySEC automatically became licensed by the MiFID or Markets in Financial Instruments Directive and with that license companies and brokers are able to operate on the entire territory of the European Union.
When it comes to the trading platforms that this Forex broker is provided to their clients, TrioMarkets is not that different from the majority of other brokers in the market. TrioMarkets uses MetaTrader 4 or MT4 trading platform that has become the standard among the brokers in the Forex trading market. The main reason why MT4 trading platform is so popular among traders is the fact that it provides several features that other platforms are not providing. Some of those features are:
- Advanced charting package
- Back-testing environment
- Expert Advisors or EAs
- Big number of technical indicators
Besides the already mentioned, the MT4 platform provides several other features that are rarely seen with any other trading platform in the market. Besides that, this trading platform also enables the traders to have the access to the broker through their mobile devices as well and it does not matter whether a trader is using his or her mobile phone or tablet because the platform has been equally good developed for both types of mobile devices.
TrioMarkets Account Types
Just like many other Forex brokers in the market, TrioMarkets is providing their clients with the selection of four different types of accounts. The following part of this review will present the most important facts about each type of account. Besides the standards accounts that will be mentioned in the following part, this broker is providing also the Islamic accounts that are swap-free. The first type of the account, the Bronze account is the account that as the minimum size of the trade at 0.01 and the maximum leverage of 1:300. Besides that, the minimum amount of the deposit for this account is $500. The second type of the account is the Silver account, which requires the minimum amount of deposit of $2,000. The maximum leverage for this account is 1:200 while the minimum trade size is 0.1. The third type of the account is Gold account and the minimum deposit for this account is $10,000. Maximum leverage for this account is 1:100 while the minimum trade size is the same as for the Silver account, 0.1. The fourth type of the account is the Diamond account which requires $50,000 as a minimum of deposit. This account has the same minimum trade size as the Silver and Gold account and the maximum leverage is the same as for the Gold account.
This, TrioMarkets Forex broker also provides their clients with certain type of the bonus. The bonus that they award their clients with is the ProfitF bonus that enables clients to increase the amount of funds in their accounts by receiving additional amount of money on their winnings. This proved to be a very good policy because more and more people are signing up with this Forex broker.
When it comes to the banking options that this Forex broker is providing for their clients, it can be said that it does not differ a lot from other Forex brokers in the market. In that sense, it is important to mention that TrioMarkets provides their clients with different payment methods such as WebMoney, Neteller, Skrill, Bank Wire Transfer, Credit Cards, Debit Cards and PayPal. All of these payment methods can be use for depositing and for withdrawing the funds from the clients’ accounts.
TrioMarkets provides customer support for their clients on several languages including English, Russian, Turkish, Italian, Arabian and several others. Besides that, there are also several methods that client can use in order to contact the customer support service and those are: callback, phone call, live chat and e-mail.