Score

1.51 /10
Danger

Truney

Suspicious Regulatory License

High potential risk

B

Add brokers

Comparison

Expose

Exposure

Time Machine
Website

Score

Regulatory Index0.00

Business Index6.97

Risk Management Index0.00

Software Index4.00

License Index0.00

Time Machine
Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 2
Previous Detection : 2024-11-11
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Truney · Company summary
Truney Review Summary in 5 Points
Founded 2010
Registered Country/Region Taiwan
Regulation Unregulated
Products & Services Precious metal trading including gold, silver, collectible coin, palladium/platinum, precious metal jewelry; precious metal storage etc.
Customer Support Address, phone, email, social media, contact us form

What is Truney?

Based in Taiwan, Truney is engaged in the trade of precious metals including gold, silver, collectible coins, and palladium/platinum, precious metal jewelry, and even offers precious metal storage. However, it's crucial to note that the firm presently operates without any verified regulatory supervision.

Truneys homepage

In our upcoming article, we will present a comprehensive and well-structured evaluation of the company's services and offerings. We encourage interested readers to delve further into the article for valuable insights. In conclusion, we will provide a concise summary that highlights the distinct characteristics of the company for a clear understanding.

Pros & Cons

Pros Cons
• Multiple customer support channels • Unregulated

Pros:

  • Multiple customer support channels: This pro refers to the various ways including email, phone, live chat, or social media which customers can reach out to Truney if they need help. The more channels a company provides, the easier it is for customers to get assistance when they need it.

Cons:

  • Unregulated: Truney isnt overseen by any official financial regulatory body which poses risks for customers as it doesn't necessarily have to adhere to the rules and guidelines designed to protect clients.

Is Truney Safe or Scam?

When considering the safety of a brokerage like Truney or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a financial company:

  • Regulatory sight: The current modus operandi of Truney, without any established form of regulation, raises potential questions pertaining to its authenticity and reliability. The absence of such oversight implies inherent risks for its customers associated with precious metal dealings.

No license
  • User feedback: For a deeper insight into the brokerage, traders should read reviews and feedback from existing clients. These valuable inputs from users, available on trustworthy websites and discussion forums, can provide firsthand information about the company's operations.

  • Security measures: Truney utilizes SSL Encryption Security, a robust safety measure to ensure the maximum security of users' information and transactions, safeguarding against potential online threats.

Ultimately, the decision to trade with Truney lies with the individual. It's recommended that one meticulously weighs the potential risks against the projected benefits prior to initiating any actual trading transactions.

Products & Services

At the heart of Truney's offerings is a robust selection of precious metal products and related services.

Their trade involves not only gold and silver, but also includes a collection of unique coins made from palladium and platinum. Truney's catalog features premier precious metal jewelry, including notable items such as PAMP gold and silver bars, Canadian Maple Leaf gold and silver coins, Australian Perth Mint gold and silver coins, American Eagle gold and silver coins, Austrian Philharmonic gold and silver coins, amounting to over 200 other precious metal products.

To round off their extensive service offerings, Truney provides a secure shipping and storage solution for precious metals, ensuring the safe keeping of the valuable assets.

Products & Services

How to Open an Account?

To open an account with Truney, follow these steps:

For Personal Accounts:

Step1: Visit their website and click the “My Account ” button.

click the My Account “ button

Step2: click “Dont have an account?”, fill out the relevant information and complete the sign-up process.

fill in required info
fill in required info

Step3: After you've provided all the necessary information, you'll need to read and agree to the terms and conditions.

Step4: The final step is depositing funds into your new account.

Payment Methods

Truney offers a variety of payment methods along with their respective fees.

Accepted payments include the TRUNEY e-wallet, virtual account payment from Taiwan Bank, credit cards, and UnionPay cards. Orders generate a virtual ATM account, allowing for transfers and payments.

Domestic credit card transactions incur a 2.8% handling fee, while international credit cards are subject to a 4.2% fee. LINE Pay has a 3.2% processing fee.

Installment payments via DBS and original Citi Bank credit cards carry varying fees based on the installment period: 5.4% for three months, 6.6% for six months, and 9% for twelve months.

Processing transactions with foreign cards under the installment method should be avoided to prevent unconditional order cancellation.

Payment Method Fee Details
TRUNEY e-wallet No additional fees
Virtual Account (Taiwan Bank) No additional fees
Credit Cards (Domestic) 2.8% handling fee
Credit Cards (International) 4.2% handling fee
UnionPay Cards No additional fees
Virtual ATM Account No additional fees
LINE Pay 3.2% processing fee
Installment Payments (DBS) 3 Months: 5.4%, 6 Months: 6.6%, 12 Months: 9%
Installment Payments (Citi Bank) 3 Months: 5.4%, 6 Months: 6.6%, 12 Months: 9%

Note: Foreign card transactions under the installment method may lead to unconditional order cancellation, so caution is advised.

Customer Service

Truney offers extensive customer support through various channels including their physical address, phone, email, an online 'Contact Us' form, and social media including Facebook, Twitter, YouTube and Instagram, ensuring comprehensive and accessible support for their customers.

Taichuang Office:

  • Address: 7F-2, No. 500, Shizheng Rd., Xitun Dist., Taichung City 407621, Taiwan (R.O.C.).

  • Tel: +886-4 - 2255-1118

Taipei Office:

  • Address: 10F-1, No. 209, Sec. 1, Civic Blvd., Datong Dist., Taipei City 103016, Taiwan (R.O.C.).

Tel: +886-2 - 2181-1663

Email: service@truney.com.

contact form

Conclusion

Truney, a precious metal trading company hailing from Taiwan, offers a broad range of services - including the selling and purchase of gold, silver, collectible coins, palladium and platinum, as well as precious metal jewelry and storage. Despite these offerings, the absence of official regulatory oversight raises valid concerns. This deficiency in regulation leads to questions concerning Truney's dedication to ethical practices and customer protection. Therefore, if you intend to trade with this company, you should be cautious and consider alternative traders who display identifiable adherence to transparency, regulatory compliance, and professional conduct.

Frequently Asked Questions (FAQs)

Q 1: Is Truney regulated?
A 1: No. it‘s been confirmed that the company currently operates under no valid regulations.
Q 2: Is Truney a good financial company for beginners?
A 2: No, it’s not a good financial company for beginners because its not regulated by any recognized authorities.
Q 3: What kind of products and services does Truney offer?
A 3: Truney sets foot in precious metal trading including gold, silver, collectible coin, palladium/platinum, precious metal jewelry as well as precious metal storage etc.

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.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

User Reviews

More

User comment

3

Comments

Write a review

spicyfood
more than one year
I recently opened a demo account on Truney, but I'm quite frustrated with the lack of clarity regarding the leverage used in trading. There is no option to adjust the leverage, and the platform provides no feedback or information about it. Additionally, when I decided to close my demo account and attempted to delete my personal data from the website, I couldn't find any relevant options. Surprisingly, there is no mention of the word "close" in the FAQs, and even the terms and conditions fail to provide information about Truney's rights regarding account closure.
I recently opened a demo account on Truney, but I'm quite frustrated with the lack of clarity regarding the leverage used in trading. There is no option to adjust the leverage, and the platform provides no feedback or information about it. Additionally, when I decided to close my demo account and attempted to delete my personal data from the website, I couldn't find any relevant options. Surprisingly, there is no mention of the word "close" in the FAQs, and even the terms and conditions fail to provide information about Truney's rights regarding account closure.
Translate to English
2024-01-18 18:18
Reply
0
0
3Q
more than one year
Truney is a nightmare. Withdrawals? Forget about it. They promise account managers will call you, but it's just a smokescreen. Excuses galore. Quick to ****** deposits, but when it's time to cash out, they vanish. Trust? Non-existent. They're not brokers, they're bandits. Steer clear.
Truney is a nightmare. Withdrawals? Forget about it. They promise account managers will call you, but it's just a smokescreen. Excuses galore. Quick to ****** deposits, but when it's time to cash out, they vanish. Trust? Non-existent. They're not brokers, they're bandits. Steer clear.
Translate to English
2023-12-28 12:09
Reply
0
0