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Trust Capital Review

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Trust Capital is a licensed Forex and CFD broker that is regulated by the Capital Market Authority, known as the CMA. Trust Capital began offering services in 2018 and is located in Lebanon. This company actually invites clients to their personal office for educational seminars, which makes them seem more legitimate than many offshore brokers. TC offers two different account types to choose from, with a minimum deposit of only $100 for either account. This broker seems like a legitimate option, so we dove in to find out more about their services.

Account Types

Trust Capital only offers two account types: The Standard account and the Plus account. The Standard account comes with market execution and a floating spread. On the Plus account, the spread is fixed for spot market and there is instant execution. The minimum deposit for both account types is the same, but you’ll find that most of the other aspects differ. Below, you can take a quick look at the differences between the accounts.

Standard Account

  • Minimum Deposit: $100
  • Leverage: 1:400
  • Spreads: Between 0 and 1.6 pips, floating

Plus Account

  • Minimum Deposit: $100
  • Leverage: 1:100
  • Spreads: 2.8 pips, fixed

The $100 deposit minimum for both accounts makes it possible for one to choose either account, without any higher financial obligation, so this is a plus. However, the leverage choices are lower on the Plus account, and the spreads are higher. In compliance with regulation laws, this company requires a passport ID and proof of address document when opening an account. You’ll also find that IB accounts are available, in addition to free demo accounts.

Platform

Trust Capital offers the award-winning MetaTrader 4 platform and offers the link to download MT4 directly from their site. The platform comes with built in tools and supports Expert Advisors, in addition to hedging and scalping, instant execution, and more. Trust Capital also offers their own Mobile program, which is comparable to a full-functioning PC trading terminal. Users have the possibility to fully access the financial markets vide WAP and GPRS wireless services and trade securely from anywhere of the world.

Leverage

The highest leverage offering is listed as 1:400 for the Standard account. This choice is higher than average, although you will occasionally find higher choices elsewhere. However, you shouldn’t choose this only because it is the highest option. Keep in mind that there is more of a risk when trading with higher leverage, so stick with a lower option if you’re inexperienced. If you’re looking at the Plus account, the leverage only goes up to 1:100. This is one of the most preferred leverage choices by professionals, but some may feel that this offer is low. Since the deposit minimums for both account types are the same, it’s a little surprising that Trust Capital doesn’t offer similar leverages for both account types.

Trade Sizes

The minimum contract size that you can trade is 0.01 of a standard lot which requires a $10 margin requirement for most of the instruments. On the Plus account, the minimum lot size is listed at 0.1 lots. The website is not forthcoming with information about the maximum trade sizes allowed. There is no margin call level with this broker. You won’t find this often, as many Forex brokers do have some sort of margin call level in place. Note that reaching this level with a broker that does implement this rule would stop you from placing any new trades. The stop out level is automated at 10% equity/margin ratio. If you reach the stop loss level, your trades would be closed automatically.

Trading Costs

This broker does not list any commission fees on their website. Although the terms are vague, it seems that the lack of commission charges make up for the higher spreads. The website mentions that there are no swap fees on frequently traded accounts. Since the website does not go into more detail, it would be helpful to ask support for more specific information if you believe you may qualify. The company also offers negative balance protection, meaning your account will never go negative, so you’ll never owe money.

Assets

Trust Capital offers Spot foreign exchange, Spot gold and silver, Commodity CFDs, Energy CFDs, and Index CFDs. Trust Capital also offers stocks from most global markets. The company seems to be dedicated to updating their product portfolio occasionally, so you may find more instruments added to list in the future.

Spreads

Spreads on the Standard account are floating, while spreads on the Plus account are fixed for spot market. We did find where it is briefly mentioned that spreads start at 1 or 2 pips, but the website doesn’t explain much about the differences and only lists live spreads for the Plus account. In an effort to provide an idea of their spreads, we took a look at some of the current examples. At the moment, the spread on EURUSD was at 2.8 pips, which is higher than average. The spread on GBPUSD was actually listed at 4 pips. Keep in mind that the spreads are floating and constantly changing, so you shouldn’t expect to see this exactly. Still, the current spreads suggest that they are higher than average with this broker, and we wish that the website would give examples for the Standard account.

Minimum Deposit

Both account types offer a minimum deposit requirement of $100. In some ways, this is a good offer, since this is the industry average. Also, users would actually be able to choose the account they prefer, since one account does not have a much larger minimum than the other. On the other hand, you can occasionally find lower offers for at least one account type with other brokers. Still, this is not a large amount to ask for, but it could be more intimidating for beginners.

Deposit Methods & Costs

Note that before you’ll be allowed to make a deposit, you’ll need to complete the registration process. Deposit options include Visa/MasterCard, Western Union, Cheque deposit, and wire transfer. On a negative note, there are no cryptocurrencies available for depositing, which some may find to be a drawback. Trust Capital does not charge any fees for Visa/MasterCard, but the payment gateway does charge a 3% fee on this method. If your card has a base currency other than USD, there may be an additional conversion fee. The company does not mention any fees for bank wire, but your bank will likely charge fees from their side if you choose to fund with this method. Note that this company does not accept third party deposits, so be sure that you’re funding your account directly. The website states that funds will be deposited to accounts as soon as they have been received.

Withdrawal Methods & Costs

Withdrawals must be made to the method that was used to deposit. You may withdraw the amount you funded by card, but any additional profits must be withdrawn via a different method. Trust Capital does not charge any fees for withdrawals from their side. However, they do mention that bank, card, and Western Union may have their own specific charges. Also, banks usually charge a fee for withdrawing via wire.

Withdrawal Processing & Wait Time

Trust Capital will typically process withdrawals within one working day, although bank wire can take between 3 and 5 working days to be received. This is an average time frame for wire, which always has a longer wait time than other methods. Western Union is usually processed within 10 minutes, so long as it is within office hours. Withdrawals by cheque are usually payable to the account holder within one business day. Overall, the withdrawal time frames are pretty reasonable, although it would be nice to see an instant option or two available.

Bonuses & Promotions

The only bonus opportunity we found with this broker was a referral program. In order to earn money for this promotion, you would need to have someone sign up using your referral link. Once they’ve made a deposit, you’d earn money, depending on how large said deposit was. The website does not explain how much of a bonus one would earn based on that deposit, so feel free to reach out to support if this is something you’re interested in.

Educational & Trading Tools

The education opportunities at this broker are more hands on than the type of offers you’ll find elsewhere. Trust Capital actually offers free training seminars, which are held from their offices in Lebanon. If you live near one of these locations, it could be an amazing learning experience. If you don’t live nearby, you won’t be excluded, since the seminars are also available over Skype. In addition to seminars, you’ll find Forex explanations and examples, as well as a financial glossary. Along with daily and monthly statements, Trust Capital’s dealing software provides each client with a wide range of trading tools, including technical analysis and charting, real-time news feeds, real-time profit and loss analysis, and full back office capabilities. On the website, you’ll also find news, articles, daily reports, and an economic calendar.

Customer Service

Support is available 24 hours, Monday through Friday, via LiveChat, phone, fax, or email. The 24-hour service coupled with the direct phone number being provided, in addition to LiveChat, make the customer service for this broker stand out. You would have trouble to find another broker with such convenient contact options, although some are out there. However, we had trouble connecting via LiveChat without being signed into an account. The broker does not specify that the Live Chat service is only for those logged into accounts, but this seems to be the case.

Phone & Fax: +961 1 999266

Email: cs@TrustCapital.com

Demo Account

Opening a demo account is a great way to practice trading without risking real funds. You can also use a demo account to view current information on spreads from within the MT4 platform. If you’re interested in signing up, you can click on ‘Accounts Opening’ and then ‘Demo-Account’ on the website. You’ll have to fill in a form with some personal information, including your email, address, and phone number. Once you’ve done so, you’ll be given access to a free demo account.

Countries Accepted

One thing that made us feel more confident about choosing this broker was the fact that the US is specifically listed in the countries section when opening an account. Elsewhere, one may find conflicting information as to whether a broker actually accepts the United States or not. Fortunately, there is no room for doubt here. You won’t have to worry about running into problems having your documents verified or wasting your time with this broker if you’re from the US.

Conclusion

Trust Capital offers two account types, both of which can be opened with a $100 minimum deposit. Although they offer a few popular funding methods, including Visa/MasterCard, there are no cryptocurrencies or e-wallets on the list. Their website offers a variety of educational and trading tools, including demo accounts, and Trust capital actually holds live seminars at their office location or via Skype.

Some of the advantages to choosing this broker are the lack of commission fees, coupled with high leverage options and an extensive asset portfolio. The main drawback would be the higher than average spreads, which offset the commission free accounts. Customer Service is available 24 hours, five days a week via several different contact methods, including LiveChat. Since this broker is regulated by the CMA, they are a trustworthy option, and they are direct about the fact that they accept the United States.

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