Triton Capital Markets – Are They Safe to Trade?

Website URL:  https://tritoncapitalmarkets.com

Founded: 2020

Regulations: Unregulated

Languages:  English

Deposit Methods:  Credit/Debit Cards (Visa, Visa Electron, and Mastercard), Maestro, 3D, Wire Transfer, and Bitcoin

Minimum Deposit:  $2500

Free Demo Account: None

Number of Assets: Almost 1000 of the most popular assets

Types of Assets: Cryptocurrencies, Forex, and CFDs

Trading Accounts and Conditions

Triton Capital Market has only mentioned the account types and its minimum initial deposit amounts. However, they have not provided any information on the spreads and leverage levels. Triton Capital Market is offering seven types of trading accounts to its customers:

1.     Bronze Account: The minimum deposit amount is $2500.
2.     Silver Account: The minimum deposit amount is $5000.
3.     Gold Account: The minimum deposit amount is $10,000.
4.     Premium Account: The minimum deposit amount is $25000.
5.     Platinum Account: The minimum deposit amount is $50,000.
6.     VIP Exclusive Account: The minimum deposit amount is $100,001.
7.     Managed Account: The minimum deposit amount is $500,001.

Triton Capital Markets – Advantages

Triton Capital Markets offers no rewards, incentives, or advantages to its clients for investing money with them.

Triton Capital Markets – Disadvantages

• An Unregulated Enterprise

The registered address accompanied to Triton Capital Markets is in St. Vincent and Grenadines, which is an offshore zone. Being registered offshore is highly preferred by scammers since there are no financial services authorities to regulate their company. Moreover, this forex broker claims to be owned and operated by Karello D Buro KFT, a company that’s registered in Hungary. However, upon verifying this information, this company name doesn’t show up to be a registered business in the said country.

This means, Triton Capital Market is only using a dummy company to appear legit, but in reality it isn’t. It is, otherwise, a non-legit trading broker who doesn’t have any information on regulation or license. This is too risky on the part of the customers as they are trading with an enterprise that lacks customer protection and security of funds.

Plus500

$100

Minimum Deposit

Start Trading

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82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

 

AvaTrade

$100

Minimum Deposit

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The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

• Non-Functional Trading Software

Triton Capital Market claims on its website of providing Metatrader5 trading software to its customers. However, no matter how best and updated the trading platform the broker gives to the customers, it is still not safe to trade with such a non-legit broker.

Furthermore, if you try to open a trading account with them, you will not be able to do so due to broken and nonfunctional links.

• The High Initial Deposit Amount

Triton Capital Market requires the customers an amount of $2500 as the minimum initial deposit for a bronze account. This amount is too high as compared to the average minimum deposit requirement of most legitimate and licensed forex brokers that only amounts to $100.

• Long Withdrawal Time

Triton Capital Market takes three business days for processing withdrawal requests. In addition to this, it takes further five business days until funds appear in the customer’s account, which is a very long time for a withdrawal process. Whereas, other authentic and regulated brokers process the withdrawal requests on the same day the request has been submitted.

• No Proper Information is Given

Triton Capital Market has only mentioned the account types and their minimum initial deposit amounts and a $100 minimum withdrawal amount on their website. However, they have not provided any information on the spreads and leverage levels, which is a very shady practice because an authentic, legitimate forex broker will never miss such important details to provide to the customers.

• Unfair Dormant Account Policy

This forex broker charges its customers a fee of $100/EUR/GBP or a 5% fee every month in case of a lack of trading activity in the customer’s account. This amount is considered very high if compared to most authentic licensed brokers that don’t charge any dormant account fee for the first six months, and if they charge a fee, it’s always a fixed amount, not a percentage.

• Lots of Fees Charged on Different Transactions

In addition to the dormant account fee, Triton Capital Markets also charges a rollover fee if you wish to keep your positions overnight. Furthermore, a 0.01% fee is charged on cryptocurrencies pairs, a 5% fee is charged on withdrawal requests in case of credit card, a 10 GBP/USD/EUR fee on bank transfer, and a $25/GBP/EUR fee for other bank transfer transactions. In short, a customer has to prepare to pay a lot of fees when trading with this broker.

• Offering Advantages to Trap Customers

Triton Capital Market is giving its customers one-time trading bonuses and credits, but actually they are not just free incentives or gifts. These trading bonuses and credits are associated with some requirements to be fulfilled to avail them. For instance, for getting trading bonuses and credits, customers are required to trade one lot for each $1 of bonuses and funds added. Such a type of requirement is difficult to fulfill and will only make the withdrawal transactions impossible, unless the customer fulfills the requirements. This is clearly a sign of a scam because the authentic legitimate brokers never offer bonuses and incentives like this.

• Irreversible Deposit Methods

Triton Capital Market accepts deposits through Credit/Debit Cards, Bank Wire, and Bitcoin. So, it is recommended to not deposit your funds using the bitcoin method because it is a totally irreversible and anonymous method. If you deposit money using the bitcoin method, it means your money is gone!

Conclusion

Triton Capital Market is an unregulated, non-legit scammer that is not trustworthy and reliable enough to do trade as they have no guarantee for the safety of funds. It lacks the regulations and transparency in its financial forex services that they claim to provide to the customers.

So, we don’t recommend choosing this broker to invest or trade with. Instead, choose an authentic legitimate forex broker who is licensed under reputable financial authorities because they are obliged to fulfill strict requirements that guarantee client protection and transparency of financial services they are providing.

Triton Capital Markets

2.4

User Experience

3.3/10

Payment Options

2.1/10

Security

2.3/10

Support

2.3/10

Reputation

2.2/10

Pros

• None

Cons

• An unregulated enterprise
• Non-functional trading software
• The high initial deposit amount
• Long withdrawal time
• No proper information is given