Table of contents
Triuace presents us with an average broker product. and aims to lure you in, yet there is something going on behind the scenes. Read the review to fin out all about Triuace.
The brokers mentions an address on numerous occasions across the website where it is stated that the broker is headquartered in New York. For a broker to operate legally in the US it must be a member of the National Futures Association (NFA), and has to be registered as a Futures Commission Merchant (FCM) and Retail Foreign Exchange Dealer (RFED) with the Commodity Futures Trading Commission (CFTC); it cannot be registered as an offshore entity and at the same time be regulated by both the NFA and CFTC. not to mention that the minimum capital requirement for any broker to be licensed in the US is $20 000 000.
Next, there is a small mention in the Advantage section claiming that Triuace is regulated by the FCA, a claim that is a complete lie. For one, a broker cannot be regulated in both the UK and US, and second the FCA has no record of Triuace, thus making it UNLICENSED, and a risk to all traders.
We strongly advise traders to trade only with regulated brokers that hold a license from renowned and severe institutions such as the FCA or CySEC. Not only do these agencies oversee operations and require regular reports from brokers registered with them, but those under their jurisdiction are members of compensation funds that cover victimised clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).
While we were opening an account we were given a fixed leverage of 1:100. However, we were not able to open an account because the broker was asking a lot of identification information, which is usually a good thing, but seeing that this broker is unregulated, who knows what it will do with it.
As for a spread, the website gives us a 2.6 EUR/USD cost of trade which is way to high to be profitable to traders. Overall, typical scammer broker stuff.
The website ca be translated in both English and Chinese.
Without opening an account we cannot confirm if the broker is keeping its word when promising an MT4 platform.
Nevertheless, The MT4 offers essential tools for every trader if he or she wishes to survive today’s online trading industry: Expert Advisors, technical analysis, mobile and tablet support, simultaneous charts among many other elements.
TRIUACE MINIMUM DEPOSIT
The following deposit info is taken from the website, meaning that is surely is not 100% accurate.
The only seeming way to deposit is via wire transfer, and there is no minimum funding requirement.
We would not deposit with this one if we were you. This broker is clearly not legitimate and not regulated, meaning that who knows what they will do with your investment. Traders should deal exclusively with brokers regulated by exemplary agencies such as the FCA or CySEC, for they oversee a brokers activities from head to toe with a severe case of diligence.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
It may or may not happen, but if an unregulated broker asks you to install AnyDesk or TeamViewer and give them log in details, consider yourself very open to a complete drainage of your funds from all your online accounts. These software allow for anyone to access your PC from another station and go through all your files and vital information, including credit card, bank and alternative payment method details. Thankfully, these platforms are completely legal and will need your own personal approval in order to be used.
TRIUACE WITHDRAWAL TIME AND FEES
Unfortunately, there is no information on withdrawals anywhere on the website. Without opening an account, we cannot even check if Triuace allows for withdrawals.
ADDITIONAL FEES AND TAXES
There is nothing special here. The legal documents are short, and contain no important info.
Heed our words. Unregulated brokers do not care who you are and what your situation is; all they see is money, and they will trick you into giving it to them every chance they get. It is only logical then, that any attempt at withdrawing will be unsuccessful. The most popular excuses for denying your withdraw requests are usually smart and for the most part scripted. These include but are not limited to loopholes in the T/C, asking for more deposits in order to withdraw, or just prolonging your pending withdrawal by claiming that the market will suddenly propel, multiplying your winnings by unrealistic proportions.
If a broker is unlicensed, never give you ID and personal details to it, because the broker will use these details against you once you file for a charge back. Furthermore, any allegation held against the brokerage will be easily refuted if they have in their possession a copy of your ID and proof of address.
The most important thing to note is that this broker will not return your deposit, nor will it pay your winnings. It never had this intention in the first place. The best advise is to walk away from it, and go straight for a regulated broker. The FCA and CySEC are the top non-US license issuers, and those under their gaze are bound by the law to put the security of users’ funds as pivotal priority.
HOW TO RECOVER
Don’t delay, and file for a charge back ASAP with your bank or credit card company, but also ask them what the situation with your current account is.
If you have given a CVV code to the broker, be sure to cancel your credit card as soon as possible, because the broker will not delay with draining every cent from it.
Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.
The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
Do not deposit here. There is nothing good that will happen from it. Stay away!
Triuace compared to other brands
United Kingdom, Cyprus, South Africa, Mauritius
Cyprus, Saint Vincent and the Grenadines