TrueFriend

Aspect	Information
Company Name	TrueFriend
Registered Country/Area	Korea
Founded Year	2005
Regulation	Unregulated
Spreads	As low as 0.0 pips
Trading Platforms	WebTrader,MT4,online banking
Tradable Assets	Stock(share stock,ESG),fund
Account Types	Individual account,institutional account
Demo Account	Available
Customer Support	Phone, email, and social media
Deposit & Withdrawal	Credit/debit card,bank transfer

Overview of TrueFriend

TrueFriend, founded in 2005 and based in Korea, operates as an unregulated financial trading platform, offering users the ability to engage in trading various assets, including shares of stock and ESG (Environmental, Social, and Governance) stocks, as well as funds.

With trading platforms like WebTrader and MT4, plus online banking facilities, they offer a potentially user-friendly trading environment with the lure of low spreads, starting as low as 0.0 pips. TrueFriend caters to a range of clients by providing both individual and institutional accounts and also ensures accessibility and approachability for novice traders by offering a demo account.

Customer support appears to be wide-ranging, available through phone, email, and social media channels. While its transactional processes allow deposits and withdrawals through commonly used methods like credit/debit cards and bank transfers, it's noteworthy that the firm is unregulated, which might pose risks to the clientele in the absence of regulatory oversight and protections.

Is TrueFriend Legit or a Scam？

TrueFriend is unregulated, meaning it does not adhere to or is not overseen by any specific financial regulatory authority. It's crucial to note that trading with an unregulated broker poses significant risks as there is a lack of oversight, and clients may have reduced protection compared to trading with regulated brokers.

Regulatory bodies often impose strict rules and standards to protect traders, such as maintaining adequate capital, segregating client funds from company funds, and regularly auditing operations. Without regulation, traders are advised to proceed with caution and ensure that they thoroughly understand the potential risks involved.

Its also important for traders to conduct detailed research and perhaps consider seeking brokers that are compliant with a recognized regulatory body for added protection and assurance.

Pros and Cons

Pros:

1. Diverse Trading Platforms: TrueFriend offers various platforms like WebTrader and MT4, allowing traders to select one that suits their trading style and technical preferences.

2. Variety of Tradable Assets: The platform allows trading in a range of assets, including stock shares and ESG stocks, which gives traders options to diversify their investment portfolio.

3. Low Spreads: With spreads as low as 0.0 pips, traders might find it financially advantageous to trade under such potentially low-cost conditions.

4. Demo Account Available: The availability of a demo account allows newcomers or those unfamiliar with the platform to practice trading without risking real capital.

5. Multiple Account Types: TrueFriend caters to both individual and institutional traders, thus being versatile and accommodating different trading needs.

Cons:

1. Unregulated: Lack of regulation can be a significant red flag, as it implies that the company doesnt adhere to any external, legal oversight designed to protect traders.

2. Potential Risk for Investors: The lack of regulation inherently exposes traders to potential financial and operational risks, given the absence of regulatory compliance and accountability.

3. Limited Information on Fee Structure: There's no detailed information available about the fee structure, commissions, or any hidden charges that might be applied.

4. Security Concerns: Without regulation and adherence to regulatory cybersecurity standards, there could be potential security concerns regarding user data and financial transactions.

5. Customer Support: Although various channels of customer support are provided, without user reviews or additional details, its hard to gauge the quality, responsiveness, and effectiveness of the support team.

Pros	Cons
Diverse Trading Platforms	Unregulated
Variety of Tradable Assets	Potential Risk for Investors
Low Spreads	Limited Information on Fee Structure
Demo Account Available	Security Concerns
Multiple Account Types	Customer Support

Market Instruments

TrueFriend offers a selection of market instruments that traders and investors can engage with on their platform. Here is an overview:

1. Stocks (Share Stocks & ESG)

• Share Stocks: Traders have the opportunity to invest in a variety of company stocks, which may span across various sectors and industries.

• ESG Stocks: These are stocks from companies that meet specific environmental, social, and governance criteria, allowing investors to allocate funds towards more ethically and sustainably operated businesses.

1. Funds

• Though detailed specifics about the types of funds were not provided, the platform allows investment in various fund instruments. These could potentially include:

• Mutual Funds: Pooling money from various investors to purchase a diversified portfolio of stocks, bonds, or other securities.

• Exchange-Traded Funds (ETFs): Funds that are traded on the stock exchange, providing a broad spectrum of investment opportunities with different sectors, commodities, or indices.

• Hedge Funds: Potentially, private funds that may employ a range of strategies to earn active returns for their investors.

Potential Additional Instruments

Given the concise data shared, additional details regarding other market instruments like commodities, indices, cryptocurrencies, or forex pairs that might be available on TrueFriend are not specified. For a comprehensive overview of all the market instruments provided by the platform, direct consultation of their official website or customer support might be necessary.

Account Types

TrueFriend offers 2 types of account to meet the diverse needs and capacities of traders: individual account and institutional account.

Individual Account

1. Majesty Club:

• Nature: Exclusive, VIP-oriented.

• Services: Tailored asset management, including legal, tax, real estate, and accounting services.

• Products: Access to a broad array of financial instruments like stocks, bonds, derivatives, various funds, and insurance.

• Special Offerings: One-on-one consulting, life planning, and informational materials, ensuring holistic financial management.

1. International Business:

• Services: Brokerage services to invest in international markets including the US, the UK, Japan, Hong Kong, and China.

• Products: Access to stocks and bonds in various international markets.

• Additional Support: Enabling overseas stock sales and support in market listing for domestic companies looking to list on international exchanges.

Institutional Account

1. Majesty Club:

• Nature: Tailored for entities requiring high-tier, comprehensive asset management.

• Services: In-depth financial consulting across various domains like legal, taxation, and real estate.

• Products: Diverse including private equity funds, real estate funds, and other high-value investment instruments.

• Additional Offerings: Potential opportunities in high-value investment areas like private equity.

1. International Business:

• Brokerage Services: Focused on domestic and foreign institutional investors, covering domestic stocks and futures/options.

• Stock Borrowing: Facilitating stock borrowing and lending.

• Market Bridge: Enabling domestic entities to reach international markets through IPO support and related services.

• International Equity: Extensive networks across global financial centers, leveraging the strengths of domestic equity sales and providing expertise in block trading between Korean and overseas markets.

In both account types, the exact offerings, terms, and conditions would likely vary. Individual accounts may be more retail investor-focused, whereas institutional accounts would cater to the needs of larger entities, corporations, or financial institutions with a plethora of services tailored to manage and utilize larger pools of capital.

Account Type	Services & Offerings	Products	Special/Additional Offerings
Individual
- Majesty Club	Tailored asset management, One-on-one consulting, Life planning	Stocks, Bonds, Derivatives, Insurance	Access to varied funds, Life planning
- Int'l Business	Brokerage services for international investments	Overseas Stocks and Bonds	Support for overseas stock sales and market listing
Institutional
- Majesty Club	Comprehensive asset management, In-depth financial consulting	High-value investment instruments	Access to private equity and real estate funds
- Int'l Business	Domestic and foreign institutional investor-focused brokerage	Domestic Stocks, Futures/Options	Stock borrowing & lending, IPO support

How to Open an Account？

Heres a 5-step guide to open an account, be it an individual or institutional account, based on standard practices in TrueFriend:

1. Research and Select the Account Type:Understand the offerings, fees, benefits, and limitations of various account types (Individual or Institutional, as per your need).Visit the official website or contact customer support to get detailed information about the accounts offered.

2. Gather Required Documents: Ensure you have all necessary documentation ready for the account opening process.Typically includes identification proof, proof of address, and financial documents. Institutions may require additional documents, especially for institutional accounts, such as organizational documents, licenses, or certifications.

3. Complete the Application Process: Officially express your intention to open an account.This may involve:Filling out an application form, either online or in paper format.Submitting your documents for verification.For online platforms, creating a login ID and password.

4. Compliance Check and Approval:Ensure your application and documents comply with regulatory and internal guidelines of the financial institution.Await feedback from the institution. This may involve: a review of your application and documents.Possible additional verification steps, like a video call or an in-person visit (especially relevant for high-value or institutional accounts).

5. Fund Your Account and Start Trading/Investing:Begin using your account for trading or investment activities.Upon approval, you would:Deposit funds into your account via accepted funding methods (bank transfer, credit/debit card, etc.).Set up any additional features or preferences in your account.Start exploring and utilizing the financial products and services available.

Spreads & Commissions

TrueFriend, as per the initial data, advertises spreads “As low as 0.0 pips,” suggesting a competitive stance toward minimizing trading costs, though exact details or variations across asset classes are not specified. Spreads and commissions, vital components determining the cost of trading, generally hinge on several factors such as the account type, traded instruments, and market conditions.

While some entities may charge commissions per trade or based on traded volume, others might opt for a spread markup or offer commission-free trading. Also common are additional costs like overnight fees for positions held past market close, inactivity fees, and potentially, withdrawal fees.

To garner precise, detailed, and updated information about the spreads, commissions, and any subsidiary costs associated with TrueFriend's trading environment, prospective traders should consult the official website or get in touch with their customer support, ensuring clarity and transparency in understanding the full scope of potential charges and fees.

Trading Platform

TrueFriend employs several trading platforms, namely WebTrader and online banking, each catering to different kinds of traders with varied trading needs and preferences:

• WebTrader: Often designed to be user-friendly, a WebTrader platform allows clients to access their trading account from any web browser without the need to download or install any software. This platform might offer various tools and features like charting tools, technical indicators, and one-click trading, providing a straightforward trading experience thats accessible from virtually anywhere.

• Online Banking: This might refer to a platform or portal provided through an online banking system, allowing clients to manage both their banking and trading needs in a singular, unified space. This platform might facilitate straightforward funding of the trading account and could provide a more seamless experience for managing financial needs.

For detailed features, tools, and capabilities of each platform provided by TrueFriend, direct consultation of the official website or a dialogue with customer support will provide the most accurate and up-to-date information.

Deposit & Withdrawal

Deposits and withdrawals at TrueFriend can be managed through a couple of mainstream financial transaction methods, specifically:

• Credit/Debit Card: This is a common and often instant method for deposits, providing traders a quick and straightforward way to fund their trading accounts. Withdrawals to a card might be subject to processing times, which can vary.

• Bank Transfer: A conventional method for moving larger sums of money. Bank transfers may take several business days to process, depending on the banks and countries involved. This method is often utilized for both deposits and withdrawals due to its capacity to handle larger transaction volumes.

The buying of fund

Buying a Fund:

1. Verify Eligibility: Confirm that you meet the specified requirements for foreign investors.

2. Document Preparation: Collect necessary documentation including the application form, identification, and potentially, a standing proxy and custody agreement.

3. Application Submission: Send all relevant forms and identification to the specified channel.

4. Investment: Upon approval, complete the investment using an approved payment method.

Redeeming a Fund:

1. Document Preparation: Ensure the Investment Trust Fund Application Form and any other needed documents are ready.

2. Request for Redemption: Submit the completed form as per the provided guidelines.

3. Fund Receipt: Upon redemption approval, await the transfer of funds, adhering to any provided timelines or guidelines.

4. Regulatory Compliance: Ensure you comply with any tax or financial reporting obligations in your jurisdiction.

Customer Support

Korea Investment & Securities Co., Ltd., colloquially known as TrueFriend, extends a mode of customer support to its clientele and interested investors through a variety of channels, albeit predominantly through traditional means.

Clients can access assistance and information through their company phone line by dialing +82 1588-1251 for direct interaction with their support team. Additionally, for electronic correspondence or inquiries that are not immediate, users can direct their emails to the customer service team at truefriend@koreainvestment.com.

The official website, available at https://www.truefriend.com/eng/main.jsp and https://www.truefriend.com/main/Main.jsp, might also provide an array of information and potentially additional contact mechanisms or online support. Physical correspondence can be directed to their head office located at 88, Uisadang-daero, Yeongdeungpo-Gu, Seoul, Korea.

Conclusion

TrueFriend, operated by Korea Investment & Securities Co., Ltd., presents a financial platform based in Seoul, South Korea, that caters to both individual and institutional investors, despite its lack of regulatory status. Their offering encompasses various market instruments, albeit with a traditionally inclined customer support system, favoring direct phone communication and email over social media engagement.

The platform allows investments in a multitude of assets, utilizing various trading platforms like WebTrader and MT4, while maintaining a user-friendly approach, as evident through options like a demo account. However, prospective clients should approach with due diligence, given the unregulated status, and assure alignment with their investment goals and risk tolerance. As always, consulting a financial advisor and thorough research is pivotal when navigating through international investment avenues.

FAQs

Q: What trading platforms does TrueFriend offer？

A: TrueFriend offers various trading platforms including WebTrader and MT4, ensuring a versatile and accessible trading experience for various types of investors.

Q: Is TrueFriend a regulated platform？

A: No, according to available information, TrueFriend does not hold a regulatory status. Investing through the platform should be approached with due diligence and understanding of the associated risks.

Q: What type of assets can I trade with TrueFriend？

A: TrueFriend provides access to various tradable assets, including stocks (share stocks, ESG), funds, and potentially other instruments. Always verify the most current asset offerings through the official website or customer support.

Q: What are the available customer support channels？

A: TrueFriend's customer support can be reached via phone at +82 1588-1251 and email at truefriend@koreainvestment.com.

Q: How can I deposit or withdraw funds from my TrueFriend account？

A: The platform accepts various methods for deposit and withdrawal, such as credit/debit card transactions and bank transfers.