Scam Brokers

Trust-Finance Limited – Can You Trust Them?

Chainbits Staff | Publish date: 04/10/2022 (Last updated: May 03, 2022 07:42 AM)

Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.

Trust-Finance Limited - DO NOT TRADE WITH THIS PROVIDER

2.5/10

$100

Minimum Deposit

updated 2022

Try other platforms

The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.

Try these regulated brokers if you want to start trading cryptocurrencies

Plus500 Review - Regulated broker

Plus500CY Ltdauthorized & regulated by CySEC

try this broker

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.

Website URL: https://trust-financeltd.com

Founded: 2019

Regulations: None

Languages: English

Deposit Methods: PerfectMoney, Payeer, Bitcoin, Ethereum, Litecoin

Minimum Deposit: $15

Free Demo Account: No

Number of Assets: N/A

Types of Assets: Forex, Stocks, Cryptocurrencies

Trading Accounts and Conditions

Trust-Finance Limited does not have any trading accounts. Instead, this broker offers what they call Investment Plans.

15%: The minimum deposit for this plan is $15 and the maximum is $1,999. You are promised 15% profits after 24 hours of having made your deposit.
25%: The minimum deposit for this plan is $250 and the maximum is $9,999. You are promised 25% profits after 24 hours of having made your deposit.
40%: The minimum deposit for this plan is $2,000 and the maximum is $250,000. You are promised 40% profits after 24 hours of having made your deposit.
60%: The minimum deposit for this plan is $5,000 and the maximum is $500,000. You are promised 60% profits after 24 hours of having made your deposit.

With regard to their trading conditions, there aren’t any. This broker has not mentioned anything about spreads, order execution methods, leverage, swaps, commissions, financial instruments, etc.

Trust-Finance Limited – Advantages

Trust-Finance Limited is not a broker you can trust; there are no positives that we can highlight about this broker.

Trust-Finance Limited – Disadvantages

Given below is the list of all the red flags we found that tell us that Trust-Finance Limited is a scam:

Lies About Regulation Status

Trust-Finance Limited claims that they are a legal company that is regulated in the UK. The broker also claims that they are owned and operated by Trust Finance Limited, a company that they claim is based in the United Kingdom.

To prove that they are a legally operating company, the broker has posted a copy of the certificate of incorporation in England and Wales. The broker goes on to provide a company incorporate number (13239615) and a local address.

The problem is this: being incorporated in the UK does not mean you are allowed to conduct a forex-related business there. You need to be authorized by the FCA (Financial Conduct Authority), the country’s financial regulator.

We went online to check if this broker was, in fact, authorized by the FCA (since they claimed that they were a legal company!). We found out that this broker is not even listed with the FCA, which means that they are not a legally operating forex brokerage!

We thus also decided to verify their incorporation status. We did find a company by the name of Trust Finance Limited on the Companies register, but it was incorporated in March of 2021. And this broker claims that they have been in operation since 2019. So, the question we must ask is – is this the same company, or are we dealing with a clone firm?

This means that this broker has lied about them being legal, and that we are actually dealing with a scammer.

Plus500

$100

Minimum Deposit

Start Trading

Read Review

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

Start Trading

Read Review

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.

Blacklisted by CNMV

While we were checking for their regulation status, we found out that Trust-Finance Limited has been blacklisted by the CNMV. The CNMV is Spain’s financial regulator – the Comision Nacional del Mercado de Valores. According to this regulator, Trust-Finance Limited is not authorized to do business in their country. The only reasons a regulator would blacklist a forex broker like this would be because they were operating illegally and because traders had filed numerous complaints against the broker.

This clearly shows us that we are dealing with a scammer and doing business with this broker would be a very bad idea.

No Trading Software

There is no mention of a trading software on Trust-Finance Limited’s website and after conducting a thorough search, we did not find even a link to download any trading platform. This means that this broker does not have the most important tool that a broker needs to offer forex services – a real trading platform.

This also means that clients cannot even monitor how their funds are being handled by the broker. The lack of a trading platform with this broker clearly shows that Trust-Finance Limited is a scammer.

No Trading Conditions

Since Trust-Finance Limited does not have any trading software, it makes sense that the broker would not bother with any trading conditions. This is why, despite searching long and hard, we were unable to find any information related to trades – no mention of fees and commissions, types of accounts, tradeable instruments, order execution methods and so on.

No Legal Documents

A clear sign of a scam is the lack of legal documentation. These documents are critical since they detail the terms and conditions of services offered by a broker. Therefore, without them, a trader would be blind, not knowing what the service policies are, what fees are being charged, what trading conditions are being offered and so on. And this is how dishonest brokers scam money from unwary traders.

Unrealistic Promises of Profits

The biggest indication of this broker’s scam is the promise of massive profits within 24 hours of you depositing your funds with them. According to their website, you can make as much as 60% profits in 24 hours!

This is a lie since there is no broker who can promise such returns. The volatility of the forex market does not allow for such huge profits. Legitimate brokers are, in fact, required by law to publish how many of their customers have lost money! And that number ranges from 70% to 85% of the total trades carried out on their trading platforms! So, these promises made by this broker are just lies designed to attract novice traders who don’t know any better.

Conclusion

Trust-Finance Limited has not only a shoddy website, it is completely illegal. There are no trading accounts or conditions, and there are promises of unrealistically high returns made. This is a scam operation and this broker must be avoided.