Risk Warning
Online trading is dangerous, and you could potentially lose all of your investment funds. Not all investors and traders are suitable for it. Please understand that the information on this website is designed to serve as general guidance, and that you should be aware of the risks.
General Information
What is TREX Trade？
TREX Trade is a brokerage firm that offers a range of trading instruments across various asset classes, including Crypto, Forex, Commodities, Indices, Shares.
They provide TREX trade platform catering to different trading needs. The company has an unauthorized NFA license. And TREX Trade has a physical office in St. Vincent and the Grenadines.
We will examine this broker's attributes from a variety of angles in the following post, giving you clear and organized information. Please continue reading if you're curious. To help you quickly comprehend the broker's qualities, we will also provide a concise conclusion at the end of the piece.
Pros & Cons
TREX Trade Alternative Brokers
There are many alternative brokers to TREX Trade depending on the specific needs and preferences of the trader. Some popular options include:
eToro - A social trading platform that allows users to copy the trades of other successful traders. It also offers a wide range of assets to trade, including stocks, commodities, currencies, and cryptocurrencies. eToro's fees are relatively low, and it offers a user-friendly platform that is suitable for both beginners and experienced traders.
TD Ameritrade - A well-established broker that offers a wide range of trading products and services. It is known for its excellent research tools and customer support.
Plus500 - A CFD trading platform that allows users to trade a wide range of assets, including stocks, commodities, currencies, and cryptocurrencies.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Is TREX Trade Safe or Scam？
TREX Trade is a forex broker that is not regulated by any major financial regulator. This means that there is no governing body that oversees its activities or protects its customers. As a result, there is a high risk that TREX Trade could be a scam.
Additionally, there have been a number of complaints from customers who claim that they have been unable to withdraw their funds from TREX Trade.
If you are considering doing business with TREX Trade, I would strongly advise against it. There are many other regulated forex brokers that offer a safe and secure trading environment.
Market Instruments
TREX Trade offers a wide range of market instruments, including Crypto, Forex, Commodities, Indices, and Shares.
Crypto is a digital or virtual currency that uses cryptography for security. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature. It is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.
Forex is the foreign exchange market, the largest and most liquid financial market in the world. It is where currencies are traded against each other.
Commodities are raw materials that are used in the production of goods and services. They are traded on commodities exchanges, where buyers and sellers agree on a price for a specific quantity of the commodity.
Indices are a type of financial instrument that tracks the performance of a group of stocks or other assets. They are often used as a benchmark for measuring the performance of the stock market or a particular sector of the economy.
Shares are a type of security that represents ownership in a company. When you buy shares, you are essentially buying a small piece of the company. Shares can be traded on stock exchanges, where buyers and sellers agree on a price for the shares.
Accounts
There are three trading accounts offered by TREX, namely Mini, Standard, Platinum. The broker claims that different classes of account types enjoy different trading privileges. The Mini account is suitable for beginners and with low fund requirements of only $50, while the Standard account offers some symbols‘ spread lower to 30% and with the minimum initial deposit of $100, and the Platinum account enjoys some symbols’ spread lower to 50% and with the initial capital of $5,000.
Leverage
TREX Trade offers maximum leverage of up to 1:500, which means that you can control a position worth 500 times your initial deposit. For example, if you deposit $100, you could control a position worth $50,000.
Leverage can magnify your profits, but it can also magnify your losses. If the market moves against you, you could lose more money than you deposited.
Spreads & Commissions
Spreads are totally affected by what type of accounts you are holding. The minimum spread for forex in the Mini account is floating around 1.6 pips, the Standard account around 1.2 pips, and the Platinum account around 1.0 pips. As for commissions, however, there is nothing detailed information available on TREXs official site.
Below is a comparison table about spreads and commissions charged by different brokers:
Trading Platform
The TREX trade platform is designed for traders interested in buying and selling physical precious metals such as gold and silver bullion or silver coins. The platform offers more than 40 products, including gold, silver, platinum, and palladium.
The platform also offers a variety of features to help traders manage their risk, such as stop-loss orders and margin calls.
See the trading platform comparison table below:
Deposits & Withdrawals
TREX Trade offers a variety of deposit and withdrawal methods, including helpay2, Direct Deposit, Internet Banking, and Bind bank card. The minimum deposit amount is $50, and the accepted currencies are USD/VND for deposit and USD for withdrawal. All deposits are free of charge, while withdrawals are free in most situations. Deposits and withdrawals are said to be processed instantly.
TREX Trade minimum deposit vs other brokers
User Exposure on WikiFX
Some of you may see reports of severe losses or failed to withdrawal on our website. The business received several reports of this nature, however some of them appear to have been resolved. We urge traders to carefully examine the dangers of trading on unregulated platforms and review the information that is readily available. Before trading, you can study the facts about our platform. Please let us know in the “Exposure” area if you come across any such dishonest brokers or if you have yourself been a victim. We would appreciate that, and our team of professionals will make every effort to help you fix the issue.
Customer Service
TREX Trade provides online services for investors,it is available 24/7 support, there are multiple channels to contact support, and the staff is knowledgeable and responsive. As well as telephone services for closing positions, customized VIP customer service, daily market analysis, and online live trend analysis.
Customers can get in touch with their customer service line using the information provided below:
Email:cs@trexfx.com
12280872 (Viettel network)12032559 (VNPT Network)1800588847（All Network）
TREX Trade offers online chat as a way for customers to get in touch with customer support. The chat is available 24/7, and customers can reach out with questions about their accounts, trading platforms, or any other issues they may be having. The chat is staffed by knowledgeable and experienced customer service representatives who are able to help customers with a variety of issues.
Conclusion
In conclusion, TREX Trade is a brokerage firm that provides access to a wide range of trading instruments and offers TREX trade platform to cater to different trading preferences. The company has an unauthorized NFA license.However, it's important to note that there have been reports of severe losses and failed withdrawals, although some of these issues appear to have been resolved. Traders should exercise caution and conduct thorough research when considering TREX Trade or any other brokerage firm, taking into account factors such as reputation, client feedback, and regulatory compliance. Making an informed decision requires a comprehensive evaluation of all relevant factors beyond the information provided here.
Frequently Asked Questions (FAQs)
2024-03-29 15:53
2024-02-05 21:49
