Trustwallet limited

Trustwallet limited Information

Trustwallet limited was incorporated in 2011 and is located at 40 E 7th St, 7th Street, New York, NY 10003, USA. The range of products offered by the broker includes forex, precious metals, crude oil, indices and cryptocurrencies, and the products that traders can trade are quite diverse. However, Trustwallet limited has more problems than advantages, being unregulated is the biggest drawback, which will limit traders' trading options.

Pros and Cons

Is Trustwallet limited Legit?

Trustwallet limited is currently unregulated and risks may arise if traders choose to trade with TrustWallet, where security is not fully guaranteed.

What Can I Trade on Trustwallet limited?

Trustwallet limited says it can trade dozens of major foreign exchange pairs, including EUR/USD, USD/CAD, GBP/USD, JPY/USD, etc. Similarly, it also supports spot trading of multiple metals, namely gold (XAUUSD), silver (XAGUSD), etc.

In addition, Trustwallet limited also provides trading of U.S. crude oil (USOIL) and indexes, including Nikkei Index (N225), German Index (GER30), and Standard Zeng 500 Index (US500). Finally, there are dozens of cryptocurrencies, including Bitcoin (BTC/USD), Ether (ETH/USD), Ripple(XRP/USD) and others.

Trustwallet limited Fees

Trustwallet limited Spreads

Trustwallet limited says it offers base trading spreads as low as 0. However, it does not provide details of the spread.

One hidden message to also note is that Trustwallet limited claims that traders need to deposit a certain amount of money as margin to trade leveraged CFDS or forex. For example, trading a 100:1 leveraged contract requires a margin of 1% of the contract value. If the trader loses the initial capital investment, a margin call is also required to maintain the position.

Trading Platform

Customer Service

Trustwallet limited discloses that traders can access customer service through email and physical address. It did not provide information on phone numbers or social media platforms, nor did it say whether it supported 24/7 customer service.

The Bottom Line

It is true that traders are free to choose the products they trade on Trustwallet limited, but so is its unregulated status.

Traders need to carefully identify the strengths and weaknesses of brokers. Trustwallet limited does not disclose account information to traders, but first proposes a condition requiring a certain margin, which is a surprise to traders. In addition, poor customer service is not worth traders choosing this broker.

FAQs

Is Trustwallet limited safe?

No, it's not safe. Trustwallet limited is currently unregulated and poses a risk to traders. Traders please be careful.

Is Trustwallet limited good for beginners?

No, it's not for beginners at all. Its unregulated status and the requirement to deposit margins can confuse new traders.

Is Trustwallet limited good for day trading?

No, it's not suitable for day trading. The problem is that Trustwallet limited does not provide specific spread information. In addition, without a trading platform like MT4 or MT5, customer service is poor.

Does Trustwallet limited offer managed accounts?

No, it does not offer managed accounts. But the broker says it has a multi-account manager system that supports senior traders or those with individual trading managers.