TRAZE

Overview of TRAZE

TRAZE, officially Zeal Capital Market (Seychelles) Limited, was founded in 2017. Despite its status as a “Suspicious Clone” under multiple regulations including the UK's FCA and Seychelles' FSA, it continues operations from Seychelles. TRAZE offers various trading instruments such as Forex, indices, commodities, cryptocurrencies, and share CFDs, and appeals to a global audience with two primary account options: STP and ECN. These accounts vary by minimum deposit requirements and spreads. The firm promotes itself with features like maximum leverage of 1:500 and accessible minimum deposits.

Pros and Cons

TRAZE's offering includes a broad array of trading instruments, appealing to clients with various investment preferences by providing a variety of asset classes. The availability of multiple payment methods such as bank transfers, credit cards, and e-wallets adds to the flexibility of the broker's financial transactions. The utilization of the popular MT4 platform ensures that traders have access to a robust and widely-recognized trading system. Customer support is another highlight, with comprehensive access channels that include a 24-hour hotline and official email support.

However, there are significant concerns regarding the broker's regulatory status, which is listed as a “Suspicious Clone,” indicating potential regulatory and legal issues. The lack of clarity and transparency around commissions will present additional risks to traders. The broker also requires a high minimum deposit of $1,000 for bank transfers, which could be a barrier for those with less capital. Furthermore, while TRAZE advertises trading tools and educational resources, these are currently not available to clients, which diminishes the broker's value proposition for traders seeking analytical aids and learning support.

Is TRAZE legit or a scam？

TRAZE holds a regulatory status marked as “Suspicious Clone.” It asserts to be regulated by multiple bodies: the Financial Conduct Authority in the UK with an STP license, the Seychelles Financial Services Authority with a Retail Forex License, and the South Africa Financial Sector Conduct Authority under a Financial Service Corporate license.

Market Instruments

Forex

TRAZE provides trading opportunities in major currency pairs such as EUR/USD, USD/JPY, GBP/USD, AUD/USD, among others. The platform allows trading with institutional market prices and execution available 24x5.

Indices

The platform includes options to trade on major global indices such as the Dow 30, NASDAQ 100, and S&P 500. TRAZE offers the ability to buy and sell CFDs on these indices, leveraging broad moves in the stock markets on the worlds largest financial exchanges.

Commodities

Traders have access to commodities segmented into metals like gold and silver; energy commodities including crude oil and natural gas; and agricultural products such as coffee and corn. TRAZE allows trading these commodities with CFDs, providing opportunities to leverage returns even with small sums.

Cryptocurrency

TRAZE taps into the cryptocurrency market, which includes the trading of various digital currencies. This market is known for its rapid price fluctuations and provides a dynamic investment opportunity for traders.

Share CFD Trading

The platform allows trading in share CFDs, including major blue chips like Apple, Google, and Amazon. TRAZE enables clients to trade these shares with the use of leverage, allowing for significant exposure to the stock markets without a large capital outlay.

Account Types

This broker offers two trading accounts, namely STP Trading and ECN Trading.

The STP account mandates a minimum deposit of $50 and offers maximum leverage of 1:500 with starting spreads of 1.3 pips.

Conversely, the ECN account requires a minimum deposit of $200 but provides tighter spreads starting at 0.2 pips and the same maximum leverage of 1:500.

Both accounts are denominated in USD and can be accessed through Traze's proprietary platforms utilizing MT4. A demo account is also provided for practice.

How to Open an Account with TRAZE

Opening an account with TRAZE involves the following steps:

1. Registration: Visit the TRAZE website and click “Open an account.” Fill in your personal information on the registration page, verify your email, and set a secure password.

1. Choose Account Type: Decide whether you want an STP or ECN account.

2. Verify Identity: Upload necessary documents for identity verification (e.g., ID card, drivers license, or passport) and proof of residence (e.g., utility bill or bank statement) in the MyTraze portal under “Document Verification.”

3. Verify Banking Details: In the “Payment Verification” section, provide and confirm your bank account details to ensure secure transactions. A recent bank statement is required.

4. Activate and Fund Account: After verification, your account will be activated. Fund it using the preferred payment method to start trading.

Leverage

This broker offers the maximum trading leverage is up to 1:500 for both its STP and ECN accounts.

Spreads & Commissions

Traze's STP account offers a beginner-friendly entry point with spreads from 1.3 pips, and the ECN account pprovides tighter spreads starting at just 0.2 pips.

Trading Platform

Traze provides its clients with two primary trading platforms: MetaTrader 4 (MT4) and the Traze Mobile Application. MT4 is available across multiple operating systems including Windows, Mac, and mobile platforms, making it an excellent choice for traders looking for a powerful, feature-rich trading environment. Features of MT4 include comprehensive charting tools, extensive technical indicators, and support for automated trading via Expert Advisors. Alternatively, the Traze Mobile Application offers a streamlined trading experience on both iOS and Android devices, ideal for traders who need flexibility and mobility in their trading activities.

Trading Tools

Traze advertises several trading tools on its website, including an Economic Calendar, a Trading Calculator, and CFD Expiration Dates. However, there are important clarifications needed regarding their actual utility:

1. Economic Calendar - Advertised as a feature to help traders monitor market-moving events, there actually lacks relevant content or active functionality associated with this tool on the website. This absence could mislead traders expecting real-time updates and comprehensive economic data.

2. Trading Calculator - Although this tool is promoted to aid in trade planning and risk management, the link to access the calculator is not clickable. This issue prevents traders from utilizing what could be a critical resource for making informed trading decisions.

3. CFD Expiration Dates - While information on CFD Expiration Dates is listed as a tool for managing trading strategies, again, it does not include the necessary details for practical application.

Deposit & Withdrawal

The broker's payment options include international and local bank transfers, VISA and MasterCard credit/debit cards, and e-wallets like Skrill, Neteller, and Perfect Money.

The withdrawal methods mirror the deposit options, providing a streamlined process for users. There is no upper limit on the amount that can be deposited via bank transfers, although the minimum deposit requirement for this method is set at $1,000. Credit card deposits have a lower threshold of $200. TRAZE stresses the importance of using personal bank accounts for all transactions to ensure that the funds are properly credited to the right account.

Customer Support

24-Hour Hotline：400-8692-878

Official Email: cs@traze.com

Company address:

• Office 1, Unit 3, 1st Floor, Dekk Complex, Plaisance, Mahe, Seychelles.

• Dock Road Junction Cnr Dock Road and Stanley Street V&A Waterfront Cape Town 8001, South Africa

• No. 1 Royal Exchange, London, EC3V 3DG, United Kingdom.

Contact form is available.

Educational Resources

Traze has indicated future plans for educational support through initiatives like Z Academy and a comprehensive trading Glossary, both noted as “coming soon.” Currently, there are no active educational resources available, which highlights a significant gap.

Conclusion

TRAZE boasts a wide array of trading instruments across various asset classes, supported by the renowned MT4 platform and various payment methods. The availability of STP and ECN accounts with attractive trading conditions like maximum leverage of 1:500 and minimal spreads is a plus for serious traders.

Nevertheless, the brokerage's “Suspicious Clone” regulatory status indicates challenges regarding its legitimacy and safety. The absence of promised trading tools and educational materials further diminishes its credibility and value proposition. Additionally, the high entry barrier for bank transfer deposits could exclude smaller-scale traders.

FAQs

Q: What trading platforms are available at TRAZE？

A: Clients at TRAZE can use the MetaTrader 4 (MT4) platform and the Traze Mobile Application, which are accessible on various operating systems including Windows, Mac, and mobile.

Q: What is TRAZE's regulatory status？

A: TRAZE is categorized under “Suspicious Clone.”

Q: What are the initial deposit requirements for trading accounts at TRAZE？

A: You need at least $50 to open an STP account and $200 for an ECN account, with bank transfers requiring at least $1000.

Q: Can I try trading at TRAZE without risking real money？

A: Yes, TRAZE offers a demo account for risk-free trading practice.

Q: What can I trade on TRAZE？

A: TRAZE allows trading in various asset classes such as Forex, indices, commodities, cryptocurrencies, and shares via CFDs.

Q: Does TRAZE provide learning materials for traders？

A: TRAZE plans to offer educational programs like Z Academy and a glossary, though these resources are not yet available.

Q: How can I deposit and withdraw money at TRAZE？

A: TRAZE offers several options for deposits and withdrawals, including bank transfers, credit/debit cards, and e-wallets like Skrill and Neteller.

Risk Warning

Online trading poses substantial risks, with the potential for complete loss of invested capital, rendering it unsuitable for all traders. It is imperative to comprehend the inherent risks and acknowledge that the information provided in this review is subject to change due to continuous updates in the company's services and policies.

Additionally, the review's generation date is a critical consideration, as information may have evolved since then. Readers are strongly advised to verify updated details directly with the company before making any decisions, as the responsibility for utilizing the information herein rests solely with the reader.