Overview of TREX Trade
TREX Trade, established in 2008, presents itself as a global broker with over 15 years of experience, offering a wide range of trading products, including forex, indices, commodities, and virtual currencies. The broker boasts low spreads, starting from 0, and provides a variety of trading platforms, including its proprietary platform and MetaTrader 5.
While the broker seems to offer a diverse range of trading instruments and platforms, the lack of regulation and transparency regarding trading fees should give potential investors pause. Furthermore, TREX Trade lacks transparency regarding its trading fees and account types, which pose challenges for potential clients. This review will delve deeper into the offerings of TREX Trade, highlighting its potential advantages and disadvantages to help you make an informed decision.
Regulatory Status
TREX Trade claims to be regulated by the United States NFA (license number: 0529711), but this is suspected to be a clone, poses questions regarding the broker's legitimacy.
TREX Trade lacks regulation from any recognized financial authority. It's crucial to understand that engaging with an unregulated broker entails significant risks due to the absence of a supervisory entity to enforce ethical practices and safeguard client assets.
Pros and Cons
TREX Trade's one significant advantage is the wide range of trading instruments available, with over 90 products across various asset classes, including forex, indices, commodities, and virtual currencies. Additionally, TREX Trade provides access to multiple trading platforms, including its proprietary platform and the widely used MetaTrader 5. TREX Trade promotes low spreads from 0 and offers high leverage up to 1:500, potentially benefiting traders with reduced costs and amplified profits.
However, the critical concern is the lack of regulation, as the broker operates without a valid license from any recognized financial authority. The broker's claim of the United States NFA regulation is suspected to be clone. Additionally, TREX Trade exhibits a lack of transparency regarding its trading fees and account types, making it challenging for potential clients.
Market Instruments
TREX Trade offers over 90 trading instruments across four main categories:
Forex: The broker provides access to the global forex market, with leverage up to 1:500 and no service charges for real accounts.
Stock Index: TREX Trade offers trading in major stock indices from the United States, Japan, and China, with leverage up to 1:500 and no service charges for real accounts.
Account Types
TREX Trade provides three account types: Mini, Standard and Platnum account.
Different account types have varying minimum deposit requirements for activation. For instance, the Standard account requires a $200 deposit, while the Platinum account necessitates a $5000 deposit.
However, there is no detailed information about each account type on the website.
Account Opening Process
TREX Trade claims to offer a simple account opening process with three easy steps:
Registration: Visit TREX Trade' website and click on the “Register” button to initiate the account opening process. Then, you will be directed to a page where you need to fill out a registration form with your personal information, including your name, email, phone number, password, etc.
Account Activation: When the customer registers successfully, there will be a display of an account type (usually Mini). Different account types correspond with different deposit amounts to activate. The customer needs to satisfy the minimum deposit amounts for his account type to activate the account.
Trade: When finished with the activation process, the customer can enjoy the new customer's activity.
Leverage
TREX Trade offers leverage up to 1:500 on all its trading instruments. While high leverage can amplify profits, it also significantly increases the risk of losses. It's essential for traders to use leverage cautiously and understand the potential risks involved.
Trading Fees
TREX Trade lacks transparency regarding its trading fees, but account opening is free of charge. Potential clients are advised to contact the broker directly for details on spreads, commissions, and other trading costs.
Trading Platform
TREX Trade offers two trading platforms:
TREX Trade Platform: This proprietary platform allows margin trading of over 100 popular trading products, including forex, indices, commodities, and virtual currencies. However, the broker does not provide detailed information about the features and functionalities of this platform.
MetaTrader 5 Trading Platform: This popular platform is known for its advanced charting tools, technical indicators, and automated trading capabilities. TREX Trade offers MT5 for trading various assets, including forex, CFDs, futures, options, stocks, bonds, and other instruments.
Deposit and Withdrawal
TREX Trade supports various local deposit methods, including bank transfers and cryptocurrency deposits. The broker claims that deposits are processed instantly and reflected in the account balance immediately without handing fee. However, the withdrawal process may take up to two hours, and the broker charges fees for certain withdrawal conditions.
Customer Support
TREX Trade offers online customer support from Monday to Friday, 8:00 AM to 5:00 PM. The broker also provides telephone support for closing positions and customized VIP customer service. However, the lack of 24/7 support may be inconvenient for traders in different time zones.
Email: Clients can contact the customer support team via email. TREX Trade offers 24/5 customer support through email at cs@trexfx.com.
Message box: Additionally, clients can leave a message on the website using the message box.
Educational Resources
TREX Trade offers a Help Center with resources for beginners, including FAQs, learning indicators, deposit-withdrawal guides, and trading tools like a trading calculator and exchange rate information.
Conclusion
TREX Trade presents itself as a multi-asset broker with a long history and a wide range of trading instruments. However, the broker's lack of regulation and transparency regarding fees and account types call into question about its legitimacy and the safety of client funds.
While the broker boasts low spreads and high leverage, these potential advantages are overshadowed by the inherent risks associated with an unregulated entity. The broker's claim of being regulated by the United States NFA is suspected to be false. Potential clients are urged to tread carefully and perform inclusive research to ascertain the reliability and trustworthiness of this brokerage firm before initiating any business dealings.
FAQs
Q: Is TREX Trade a regulated broker？
A: No, TREX Trade is not regulated by any recognized financial authority.
Q: What trading instruments does TREX Trade offer？
A: TREX Trade offers over 100 trading products across various asset classes, including forex, indices, commodities, and virtual currencies.
Q: What trading platforms does TREX Trade provide？
A: TREX Trade offers its proprietary trading platform and the popular MetaTrader 5 platform.
Q: What are the trading fees at TREX Trade？
A: TREX Trade does not provide transparent information about its trading fees on its website. Potential clients are advised to contact the broker directly for details.
Q: Does TREX Trade offer educational resources？
A: Yes, TREX Trade has a Help Center with limited resources for beginners, including FAQs, learning indicators, and deposit-withdrawal guides.
2023-02-24 16:19
2022-12-09 13:37
