What is TREX GLOBAL？
TREX GLOBAL, established in 2013, operates as a brokerage firm registered in Mauritius, providing Forex, Indices, and Commodities as financial instruments to clients. However, TREX GLOBAL is currently under Suspected NFA clone status with license no. 0529711. This status raises concerns about the legitimacy and regulatory compliance of the broker.
In the upcoming article, we will comprehensively analyze this broker's attributes from various angles, delivering clear and well-organized information. If you find this topic intriguing, we encourage you to continue reading. At the conclusion of the article, we will provide a concise summary to offer you a quick grasp of the broker's key features.
Pros & Cons
TREX GLOBAL presents a range of enticing features, including diverse account types accommodating various trading preferences and skill levels, alongside a low barrier to entry at USD20, fostering accessibility for traders with different capital capacities. Furthermore, the provision of risk-free practice via demo accounts enables skill enhancement without financial exposure.
Furthermore, the broker implements security measures such as segregated funds and negative balance protection, aiming to enhance client security and minimize financial risks. Also, the broker offers zero commission trading, reducing overall trading costs for clients and increasing their profitability.
However, concerns arise due to the broker's suspicious NFA clone status, which undermines its regulatory credibility and raises doubts about its trustworthiness. Additionally, the imposition of withdrawal fees in certain circumstances can inconvenience clients. The absence of popular trading platforms like MT4/MT5 further limits options for traders accustomed to these industry-standard platforms.
Is TREX GLOBAL Legit or a Scam？
When considering the safety of a brokerage like TREX GLOBAL or any other platform, it's important to conduct thorough research and consider various factors.
Regulatory sight: The broker's possession of a suspicious clone NFA license, numbered 0529711, raises concerns about the level of regulatory oversight and protection afforded to traders. This status suggests risks and underscores the importance of thorough research before engaging with the broker's platform. Traders should proceed with caution and carefully evaluate their options.
User feedback: To get a deeper understanding of the brokerage, it is suggested that traders explore reviews and feedback from existing clients. These shared insights and experiences from users can be accessed on reputable websites and discussion platforms.
Security measures: TREX GLOBAL maintains an independent depository, segregating client funds from operational accounts. Openness and transparency are core values, providing clients with clear information. Negative balance protection safeguards clients from losses exceeding their deposits. Information security protocols prioritize the confidentiality and integrity of client data.
Ultimately, the choice to trade with TREX GLOBAL is a personal decision. It is important to thoroughly assess the risks and benefits before arriving at a conclusion.
Market Instruments
TREX GLOBAL offers a comprehensive range of trading products, encompassing over 49 popular investment options across various financial markets.
These include forex currency pairs, providing opportunities to trade major, minor, and exotic currency pairs. Additionally, traders can engage in indices trading, allowing them to speculate on the performance of global stock market indices.
Commodities trading is also available, with options to invest in metals such as gold, silver, as well as energy commodities like crude oil.
Account Types
TREX GLOBAL offers three distinct account types: Mini, Standard, and Platinum.
The Mini Account is tailored for beginners, requiring a minimum deposit of USD 20. It provides access to essential features and serves as an ideal starting point for novice traders.
The Standard Account, requiring a minimum deposit of USD 100, offers a standard package for foreign exchange investment with some symbols' spreads lower to 30%.
The Platinum Account, with a minimum deposit of USD 5000, provides exclusive benefits such as even lower spreads on select symbols, new member gifts, and a birthday gift worth USD 30.
Additionally, TREX GLOBAL provides a demo account with 10,000 USD in virtual funds, allowing traders to practice and familiarize themselves with the platform before committing real capital.
How to Open an Account？
To open an account with TREX GLOBAL, you have to follow below steps:
Complete any verification process for security purposes.
Once your account has been approved, you can set up your investment preferences and start trading.
Leverage
TREX GLOBAL provides its clients with the opportunity to amplify their trading positions through leverage, offering ratios of up to 1:500. Leverage allows traders to control larger positions in the market with a smaller amount of capital, thereby potentially increasing both profits and losses. With leverage of 1:500, traders can control a position size 500 times greater than their initial investment.
While high leverage can enhance potential returns, it also escalates risk, as even small market movements can lead to significant gains or losses. Therefore, you should be cautious and employ risk management strategies when trading with leverage. It's crucial to understand the implications of leverage on your trading account and to only utilize leverage levels that align with your risk tolerance and trading objectives.
Spread & Commission
TREX GLOBAL offers competitive spreads across its range of account types to meet diverse needs of traders.
For the Mini Account, the minimum floating spread for Forex starts at 1.6 pips, providing accessibility for novice traders with lower trading volumes.
The Standard Account offers tighter spreads, with a minimum floating spread of 1.2 pips, appealing to traders seeking more competitive pricing and standard trading conditions.
For experienced traders or those with larger capital, the Platinum Account presents the most favorable spread, starting at just 1.0 pip.
Notably, TREX GLOBAL does not charge commissions on trades, allowing clients to trade without additional transaction costs.
Trading Platforms
TREX GLOBAL is a compelling platform for traders seeking efficiency, accessibility, and analytical depth. With a trading interface available in both English and Vietnamese, it caters to a diverse range of users, enhancing accessibility and ease of use. The platform's unique “One-click Trading” function streamlines the trading process, allowing for swift execution of orders with minimal hassle.
Moreover, TREX GLOBAL provides extensive analytical capabilities, supporting the analysis of 68 technical indicators. This robust suite of tools empowers traders to make informed decisions, leveraging comprehensive insights into market trends and patterns.
The platform is accessible not only on PC but also on Android devices, ensuring flexibility and convenience for traders on the go.
Trading Tools
TREX GLOBAL provides traders with a comprehensive trading calculator, an invaluable tool designed to assist in making informed trading decisions. This calculator enables traders to quickly assess various aspects of their trades, including potential profits, losses, margin requirements, and pip values. By inputting relevant trade parameters such as currency pair, trade size, leverage, and account currency, traders can obtain instant calculations tailored to their specific trading scenario.
Deposit & Withdrawal
TREX GLOBAL facilitates deposits through a range of methods, both online (such as OneClickPay and Help2Pay) and offline, ensuring convenience and security. Deposits are fee-free and processed instantly, allowing traders to commence trading promptly, whether via computer or mobile device.
Withdrawals are equally straightforward: traders can initiate them through the customer center, specifying the desired amount. While most withdrawals are fee-free, specific scenarios incur fees:
Withdrawal requests under $50 attract a $3 handling fee.
If a trader's open position margin falls below 60% of the deposit amount, a 6% withdrawal fee may be levied.
Additionally, starting from the fourth withdrawal within 24 hours, a 6% handling fee applies to each transaction.
Traders enjoy flexibility in withdrawals, with a minimum single withdrawal of VND 200,000 and no maximum limit. This structure allows traders to access funds as needed while being informed of potential fees, ensuring transparency and clarity throughout the withdrawal process.
Customer Service
TREX GLOBAL provides comprehensive customer support channels, including address details, phone contact, email support, live chat assistance, and an FAQ section. This multi-faceted approach ensures that traders have access to prompt assistance and valuable information whenever needed.
Email: cs@trexglobals.com.
Tel: +230 4892661.
Address: c/o Legacy Capital Co Ltd, Suite 201, Level 2, The Catalyst, 40 Silicon Avenue, Cybercity, Ebene, Mauritius.
Conclusion
TREX GLOBAL, a brokerage firm operating in Mauritius, provides trading services in Forex, Indices, and Commodities. However, its current suspicious NFA clone status raises concerns for investors. Regulation typically ensures financial oversight, protecting clients from possible malpractices.
Therefore, individuals considering TREX GLOBAL should be cautious and try to explore alternative, regulated brokers prioritizing transparency, security, and client protection.
Frequently Asked Questions
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
2023-03-20 10:01
