TRS Markets Review: Transparency and Regulatory Analysis
If you saw the TRS Markets website trsmarkets.com, then you know that the broker is bragging with many regulations, licenses, and supervisions. Now, if you ever saw any of the regulatory body registers, you know it’s absolutely not true.
Read our TRS Markets review and find out what is wrong with this shady broker.
|Regulated by:||No regulation|
|Blacklisted as a Scam by:||CSSF, CONSOB|
|Owned by:||TRSM LTD|
|Supported Platforms:||MT4, web trader|
|Types of Assets:||FX, cryptocurrencies, commodities, indices, shares|
|Free Demo Account:||Yes|
|Accepts US clients:||No|
TRS Markets Regulation and Security
TRS Markets is owned by TRSM LTD, a company based in the UK. With this, we will not argue since the company was registered there in July 2020. However, to provide financial services, you need to have more than a registered company. All the UK-based brokerages need to have an FCA regulation. After reviewing the FCA register, we discovered TRS Markets has no regulation at all. Another statement from the website is that Luxembourg CSSF regulates the broker through connection with Northern Trust Global Services SE. And again, this is not correct. Northern Trust is a legit fund management company not related to TRS Markets in any way.
Warnings From Financial Regulators
As it usually happens with scam brokerages, some regulator notices their activities. In this case, the CSSF mentioned above from Luxembourg issued a warning stating that TRS Markets is not in any way regulated or licensed by this regulatory body. Also, they warned EU and EEA zone citizens not to fall for the scam.
Another warning came from the Italian CONSOB. TRS Markets is blacklisted, and citizens are warned about their illegal activities.
The financial organization from Hong Kong, FINACOM, received many complaints about TRS Markets and issued an official warning regarding the broker.
Fund Withdrawal Issues
As we already mentioned above, many regulators and financial organizations received complaints about the broker. And most of these complaints are related to withdrawal issues. Therefore, we’ve closely checked the TRS Markets website to discover terms and conditions of trading and withdrawing profit. First of all, the minimum deposit on the main page says to be $250, while in the Account types tab, we found $150. The leverage this broker provides is against any regulatory standards and goes up to 1:1000 for the Forex market. Trades are executed on the MT4 and Standard web trader.
The most suspicious are the payment methods – credit/debit card, wire transfer, and around ten different ways to deposit cryptocurrencies. Withdrawal methods are not even listed, so we can assume they’re the same as for deposits. Once you make your deposit via crypto, the transaction is tough to follow. Be aware of it.
Scammed by TRS Markets?
If you were scammed by TRS Markets, do not hesitate to report it. As you saw throughout our TRS Markets review, you are not the only victim of their scam. The broker has its way to pursue you to make a deposit and start trading. Yet, you are the one who has a way to get your money back. You need to file a dispute and request a chargeback.
But what is a chargeback? It’s a way of refunding your card in case you have been scammed online.
Contact our support via chat for more details about the chargeback procedure.
What is TRS Markets?
TRS Markets is an unregulated online trading broker.
Is TRS Markets a scam?
TRS Markets has no regulation and is blacklisted around Europe and Asia.
Is TRS Markets regulated?
TRS Markets is not a regulated broker.