TradersTrust briefly
The website traders-trust.com is owned and operated by TTCM Traders Trust Capital Markets Limited (TTCM CY). TTCM Traders Trust Capital Markets Limited is licensed by the Cyprus Securities and Exchange Commission (CySEC). Customers can trade currency pairs, indices, and commodities through one of the world’s most popular trading terminals – MetaTrader 4 (MT4) with floating spreads. You can open a live account with as low as USD50.
Regulation
One of the important things you need to know about the company before signing a contract with it is whether and where it is regulated. TTCM Traders Trust Capital Markets Limited is regulated as a Cyprus Investment Firm (CIF) by the Cyprus Securities and Exchange Commission (CySEC) under the license number 107/09. The company is governed by the European Markets in Financial Instruments Directive II (MiFID II) and the Cyprus Investment Services and Activities and Regulated Markets Law of 2017. It is approved for the reception and transmission of orders in relation to financial instruments and execution of orders on behalf of clients. The company is authorized to provide investment services across the majority of the European Union. TTCM follows the strict policy that all client funds are kept fully segregated from the company’s own funds. In addition, TTCM is a member of the Investor Compensation Fund (ICF), which covers eligible clients of Cyprus Investment Firms (CIFs).
Account Types
There are three types of live trading accounts available that differ mainly in the spread and the initial deposit amount.
Classic account – The minimum initial deposit is USD50, the spread for the EUR/USD pair starts at 1.5 pips and trading is commission free. The company recommends it for beginners who want to trade with zero commission.
PRO account – The pro account is designed for more experienced clients who want to trade with raw spreads (close to zero). They will be charged an additional USD3 per standard lot as a commission. The order execution uses the Straight Through Processing (STP) model, which allows using expert advisors (EAs). The minimum required deposit amount is USD2,000.
VIP account – You must invest at least USD20,000 to open this account. The spreads are close to zero and the commission is USD1.5 per standard lot. The average execution time is 100 milliseconds, the company claims.
Market Maker or STP Broker?
We have found in the Order Execution Policy document that the company does not execute the client order as a principal to principal against the client and the company is not the execution venue for the execution of the client’s orders. The company transmits client orders or arranges for their execution with the third-party liquidity providers. It is written that TradersTrust acts as a custodian. This means that the company uses the Straight Through Processing (STP) model to fulfill client’s orders, transmitting all of them to some of its liquidity providers. Therefore, there is no conflict of interest, and the company earns money only from the spread and commissions.
The same document reveals that it may be impossible to guarantee the execution of any or all the pending orders at the declared price. In this case, the company will execute the order at the first available market price. This means that all types of orders are subject to slippage and stop loss orders are not guaranteed.
In addition, the company provides all retail clients with Negative Balance Protection. The Terms and Conditions document shows that TradersTrust ensures that losses will never exceed the total available funds.
Fees
In addition to usual fees there also is an inactivity fee. If the client account is inactive for six months or more, a monthly fee of USD5 will be deducted from the account monthly. The inactivity fee will be charged on the last day of every calendar month until the account balance has reached zero.
Deposits and Withdrawals
Customers can use several deposit methods such as wire transfer (it can take up to 3 days), credit/debit cards (instant payment), Skrill, Neteller, FasaPay, etc. The minimum deposit amount is USD50.
Withdrawals should be made using the same method used by the customer to fund his trading account. They can be made via bank wire, credit/debit cards and e-wallets such as Skrill, Neteller, etc. There is a withdrawal fee of USD25 when you withdraw by bank transfer and the minimum withdrawal amount is USD50. In case of no trading activity or any form of dishonest or fraudulent activity, TTCM reserves the right, at any time, to restrict or charge you the equivalent amount of any banking fees incurred or 5% of the total withdrawal amount.
Trading Platforms
You can trade via one of the most used terminals worldwide – MetaTrader 4 (MT4). It is a preferred trading platform because of its user-friendly interface and advanced programming features. MT4 is highly customizable and provides all the necessary tools for analyzing, making transactions, and using automated trading programs (Expert Advisors). MetaTrader platform is available as a desktop version for Windows and MAC machines, and as a mobile app for Android and iOS devices. It can be run on every popular internet browser as well.
Assets
Forex – You have access to over 40 popular major, minor, and exotic currency pairs. The average spread for the EUR/USD pair depends on the account type and is 1.5 pip for the Classic account.
Indices – You can trade 8 of the major indices globally, such as DAX30, DJIA and UK100. The average spread for the DAX30 is 2 points for the Classic account and the one for the DJIA is 4 points.
Commodities – 2 precious metals and 2 energy products are available for trading, such as Gold, Silver, Crude Oil and Brent Oil. The average spread for the Gold is USD0.40 and the one for the Crude Oil is USD0.07.
Cryptocurrencies – 15 of them are available for trading, including Bitcoin, Litecoin, Ethereum, etc. The minimum spread for Bitcoin is USD22.
Partnership
You can find in the Partnership section what the conditions are, if you would like to be an Introducing Broker to TradersTrust or to use the software and prices of TradersTrust (as a White Label).
Summary
TradersTrust has a CySEC regulation, which allows it to provide financial services across European Union. It uses the STP model to execute orders transmitting them to its liquidity providers. The company provides a wide range of trading instruments (mostly currency pairs) via the popular MT4 but there are no shares available. There are three types of live accounts that differ in the initial deposit requirements, spreads, and commissions. If you want to trade in conditions with narrow spreads, you must choose a PRO account, which requires at least USD2,000 and is not commission free.
