TrustsCapital has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Barakah Brokers. We’ve received over 3 complaints against TrustsCapital.
Investing with TrustsCapital is hazardous. TrustsCapital is not a real FX broker, as it lacks transparency and regulatory compliance. Legitimate brokers reveal regulatory status, offer modern trading systems, and charge transparent fees. TrustsCapital’s high deposit requirements, withdrawal limits, and suspicious practices all point to potential fraudulent activity. Choose a qualified broker to protect your interests and maintain financial stability.
We suggest working with a trustworthy broker with specialized staff, latest tech and most importantly, customer-centric trading conditions. After reviewing 1000+ brokers, we rank the following company as the best:
Key Takeaways
Is TrustsCapital Regulated? Do They Have a License?
When contemplating investing with TrustsCapital, it is critical to understand the risks associated. Despite its claims, TrustsCapital does not operate as a legitimate and reputable FX broker. This review tries to highlight the red flags related with TrustsCapital and direct you to more reputable brokers.
Legitimate forex brokers disclose their regulatory status, including the legal companies that own them, their headquarters, licenses, and the regulatory organizations that monitor their operations. TrustsCapital fails to give such openness. The organization claims to be located in the British Virgin Islands, with an office in London, which is questionable given that offshore brokers are not permitted to sell services in regulated jurisdictions such as the UK. A careful search finds that there is no licensed broker using the TrustsCapital brand in the UK or the BVI, according to financial regulator documents.
Choose licensed intermediaries to safeguard the security of your investments. The Financial Conduct Authority (FCA) requires reputable brokers operating from financial hubs such as the United Kingdom to conform to stringent financial stability and transparency standards. These brokers offer negative balance protection and contribute to guarantee funds that cover up to GBP 85,000 of a client’s investment in the event of broker collapse.
The lack of regulation or the presence of poor regulation is a huge red flag. It means TrustsCapital might be a scam or most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of TrustsCapital, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at TrustsCapital
TrustsCapital employs a basic web trading platform, similar to those seen with other bogus brokers. Such platforms are frequently rigged to trick investors into believing their money is being invested profitably. In contrast, legal brokers provide a selection of advanced trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are noted for their numerous features, customization options, and support for automated trading and strategy backtesting.
TrustsCapital requires a $5,000 minimum deposit, which is much greater than what other trustworthy brokers require. For example, major brokers offer account starts with as little as $5 to $100, making them more accessible and risk-free for beginning investors.
TrustsCapital’s deposit menu was offline throughout this assessment, making it impossible to verify its payment methods. However, dishonest brokers frequently promote traditional payment methods while encouraging clients to use bitcoin transactions to ensure anonymity and avoid chargebacks. Trustworthy brokers, on the other hand, offer a diverse selection of transparent payment options, including bank transfers, credit/debit cards, and well-known e-wallets such as PayPal, Skrill, and Neteller.
TrustsCapital facilitates trading in currency pairs, commodities, indices, stocks, and cryptocurrencies. However, this diversity does not compensate for the broker’s lack of legality, especially as the FCA prohibits brokers operating in the UK from selling cryptocurrency futures trading.
TrustsCapital’s trading site shows 0% spreads, implying hidden commissions. Legitimate brokers are open about their trading expenses, which promotes transparency. TrustsCapital promotes leverage of 1:200, which is unreasonably high and not permitted for UK-licensed brokers. To safeguard retail traders from taking on too much risk, the FCA and other EU regulators limit leverage to 1:30 for key currency pairings. High leverage is usually only offered to professional clients that meet strict qualifications.
TrustsCapital sets withdrawal limits, especially on accounts that have received bonuses. Such accounts must achieve high trading volume criteria before withdrawals can be authorized, which is a frequent method employed by fraudulent brokers to keep consumers’ money. Legitimate brokers do not have such stringent withdrawal criteria, allowing clients to retrieve their funds without undue difficulty.
However, it’s worth noting that many forex scams disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, shady forex brokers stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
To avoid such scenarios, it’s best to work with a reliable and trusted broker.
TrustsCapital Customer Service: Do They Handle Complaints Well?
When it comes to forex brokers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, shady brokers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Shady brokers understand that to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, customer support won’t resolve your issues and become increasingly unavailable.
If you have information on a scam or criminal operation, you can get access to 40+ investigative journalists & news outlets for free. Send us a detailed report here and if you qualify, we will forward your case ahead.
TrustsCapital Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Even if TrustsCapital might not be a scam, brokers like them rely on fake reviews to increase their credibility.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust the online TrustsCapital reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of TrustsCapital, chances are, you wouldn’t find many legitimate reviews.
Another prominent way brokers like TrustsCapital enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “TrustsCapital reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising TrustsCapital.
You should always look out for consumer complaints. In the case of TrustsCapital, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about TrustsCapital? You can share your complaint in the comment section or submit an anonymous tip.
Is TrustsCapital Legit Or a Scam?
TrustsCapital is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind TrustsCapital can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust TrustsCapital?
TrustsCapital demonstrates a number of red signs that are common among dishonest brokers. Consider working with trustworthy and licensed brokers who follow strict financial and operational requirements to protect the security of your investments.
All the evidence suggests that TrustsCapital might be a scam. You shouldn’t risk your funds with a broker you don’t fully trust.
That’s why we recommend working with a trusted broker. That way, you can avoid any hiccups and be certain of
Frequently Asked Questions
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How Forex Scams Work
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
