Triuace – Is This Broker Safe?

Website URL: https://triuace.com/

Founded: 2020

Regulations: Unregulated

Languages: English, Simplified Chinese

Deposit Methods: Bitcoin, Ethereum

Minimum Deposit: Unknown

Free Demo Account: Yes

Number of Assets: N/A

Types of Assets: Forex pairs, CFDs on precious metals, stocks and commodities, energy

Trading Accounts and Conditions

Triuace has given no information about its trading accounts. All we know is that this broker offers a leverage ratio of 1:200, which we found out when we signed into their demo account.

Triuace – Advantages

Despite trying to find something positive about contracting with the broker, we were unable to do so. There are no advantages to trading with Triuace. Read on to find out why.

Triuace – Disadvantages

Here are the many reasons why all traders should avoid contracting with this broker:

• Anonymous Broker

Triuace claims that it based out of the United States and that its headquarters are in New York. However, there is no corporate information given about the company behind this brokerage.

There is a contact number given, but it is a Hong Kong number and the email given is a very generic one. There is no physical address provided either.

What this essentially means is that this broker is completely anonymous. No trader should contract with an anonymous broker since you do not know who is handling your funds.

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• Lies about Regulation Status

Triuace claims that it is regulated by the NFA (National Futures Association) of the United States. We decided to check the validity of this assertion.

First, a broker needs to acquire a license to operate from the CFTC (Commodity Futures Trading Association), and to get that license, the broker also needs to be authorized as an RFED (Retail Foreign Exchange Dealer). They also need to get authorization as an FCM (Futures Commission Merchant).

To top it all off, to be able to offer its financial services in the US, a broker needs to become a member of the NFA. The problem is, you need to pay a hefty membership fee of $20 million! This amount has to be maintained as operational capital at all times.

After checking all the agencies, we found that Triuace has lied about its regulatory status, and that in reality, this broker is completely unregulated. We advise all traders to avoid unregulated brokers as they have no protection against being scammed or the broker going bankrupt.

This is the reason why we recommend to all traders that they only contract with brokers that are strongly regulated by agencies such as the FCA (Financial Conduct Authority) of the UK or even the CySEC (Cyprus Securities and Exchange Commission).

These financial regulators have stringent rules and regulations in place that ensure good conduct on the part of brokers, and also protection for traders against scamming and fraud.

These agencies ensure that brokers follow a policy of segregation of accounts. What this does is protect consumers’ money so that there is no commingling of funds. Added to that, brokers are required to participate in a financial system wherein their clients will be compensated if the broker files for bankruptcy or is found to be involved in a scam.

• Terms and Conditions Missing

When you sign up for an account with any broker, you are asked to read and agree to the Terms and Conditions (also called the Client Agreement). In Triuace’s case, while the Terms and Conditions link appears when you are registering, the link is broken.

There are no Terms and Conditions.

This legal document is critical since it outlines the contractual relationship you have with your broker. If you agree to the terms and conditions without actually going through them, then you are basically giving the broker a carte blanche to do whatever they want with your money.

• Lies about MetaTrader 4 Support

Here is yet another lie that this broker has told.

It claims on its website that it offers its clients support for the MetaTrader 4 (MT4) platform. However, when we attempted to download the platform from the link given, we were unable to do so.

Instead, we were shown a strange .exe file, which was flagged off as a virus threat by our anti-virus software.

Had this broker actually offered the MT4 software, it would have been a big plus for them, since this platform is the leading trading interface in the world. It is loaded with an excellent range of advanced charting tools, a great set of market indicators as well as bots for automatic trading. And the most attractive thing about MT4 is that all of these features can be customized.

• No Credit Cards Accepted

The only way you can make deposits or withdrawals are via bank wire transfers or two cryptocurrencies – Bitcoin and Ethereum. You cannot carry out transactions using your credit or debit cards.

Furthermore, the other more popular methods of money transfer – e-wallets such as Skrill, Neteller and other – are also missing.

This is a red flag for us because if you carry out transactions via either bank transfer or cryptocurrencies, they are final. There is no way you can get your money back, even if you have been scammed.

On the other hand, if you have made a credit card payment, then you can file for a chargeback in case you have been scammed. You can file this claim within 540 days for both Visa as well as MasterCard.

Conclusion

Triuace is a broker that has lied about its regulatory status, the availability of an MT4 platform, and does not offer safe payment methods. Added to that, the key legal document, the Client Agreement, is missing, and this broker is completely anonymous.

All of these clearly indicate that this broker is not to be trusted. In fact, all that we have discovered about Triuace points to the fact that this broker is a scammer. Avoid this broker at all costs.

Triuace

2.7

User Experience

3.1/10

Payment Options

2.8/10

Security

2.6/10

Support

2.4/10

Reputation

2.6/10

Pros

• None

Cons

• Anonymous Broker
• Lies about Regulation Status
• Terms and Conditions Missing
• No Credit Cards Accepted