Trust Worthy Traders claims to be a CFD broker established in 2006, offering trading services across various asset classes. However, domain registration records and regulatory inconsistencies raise serious concerns about its legitimacy. This article delves into its operations, platform claims, and investor risks to provide a clear picture.
1. Platform Background: A Questionable Origin
1.1 Founding Year Discrepancy
Trust Worthy Traders promotes itself as a company established in 2006. However, domain records reveal that the official website, trustworthytraders.com, was only registered on October 17, 2023. It was acquired and launched by the current team on September 30, 2024. This timeline strongly contradicts its claimed historical presence.
2. Regulatory Claims: Falsification and Misrepresentation
2.1 Claimed Mauritius FSC Regulation
The platform claims its parent company, Trust Worthy Traders Pty Ltd, is registered in Mauritius and regulated by the Mauritius Financial Services Commission (FSC) under:
- Registration Number: 170969
- License Number: GB19024896
2.2 Investigation Findings
An investigation revealed that these credentials actually belong to GO Markets Pty Ltd, a well-established broker. Trust Worthy Traders appears to have fraudulently appropriated this information to mislead investors. In reality, it operates without any legitimate regulatory oversight, making it a likely scam.
3. Website Design and Traffic: Hallmarks of a Scam
3.1 Minimal Website Traffic
According to Semrush, the platform’s monthly website traffic averages below 100 visits, indicating minimal user engagement or trust.
3.2 Template-Based Design
The website uses the same design template as several known scam platforms, including 7staroptions, Uaeinternationalinvestads, and Universal Cryptosphere Trade. This templated approach suggests the platform is part of a mass-produced network of fraudulent sites.
4. Trading Products and Account Offerings
4.1 Claimed Trading Instruments
Trust Worthy Traders advertises CFD trading across multiple asset classes, including forex, stocks, indices, precious metals, commodities, and cryptocurrencies.
4.2 Account Types and Features
The platform offers two account types:
- GO Plus+ Account: Spreads start at 0.0 pips with a commission of AUD 3 per side.
- Standard Account: Spreads start at 1 pip with no commissions.
These options seem competitive, but the platform’s unverified credibility raises doubts about delivering these terms.
5. Trading Platforms and Software
5.1 Claimed MT4 and MT5 Support
Trust Worthy Traders claims to support MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, compatible with both mobile and web devices.
5.2 Unsupported Claims
Despite these claims, investigators found no servers linked to Trust Worthy Traders in the MT4 and MT5 directories, suggesting the platform’s trading support is likely fabricated.
6. Deposit and Withdrawal Concerns
6.1 Payment Methods
The platform claims to support a range of deposit and withdrawal methods, including Mastercard, Visa, Skrill, Neteller, and bank transfers.
6.2 Transparency Issues
While the payment options appear comprehensive, the platform’s lack of regulatory oversight and user feedback raises concerns about the safety and reliability of these transactions.
7. Educational Resources: Genuine Help or Marketing Gimmick?
7.1 Provided Resources
The website advertises a variety of educational tools, including:
- Forex beginner and advanced courses.
- Articles on trading psychology and strategies.
- Tutorials for using MT4 and MT5.
- Podcasts and webinars tailored for traders.
7.2 Effectiveness in Doubt
Although the resources seem extensive, their quality and usefulness remain unverified. These offerings may simply serve as marketing tactics to attract new users.
8. Social Media and User Feedback: A Lack of Transparency
8.1 Nonexistent Social Media Accounts
Despite featuring social media icons for platforms like Facebook, Twitter, and LinkedIn, Trust Worthy Traders has no active accounts on these channels, misleading potential investors.
8.2 Absence of User Reviews
No user feedback or reviews are available online. For a company claiming long-term market presence, this lack of visibility is highly unusual and suspicious.
9. Referral and White Label Policies
9.1 Referral Program
The platform offers commissions to partners who refer clients, tracked via cookies and marketing support.
9.2 White Label Services
Trust Worthy Traders claims to provide branded MetaTrader solutions for institutional partners. However, given its other credibility issues, these programs may simply be bait to lure unsuspecting partners.
10. Risks for Investors: A Comprehensive Summary
10.1 Key Red Flags
- Misleading Founding Claims: Claimed 2006 origin conflicts with domain registration records.
- Fake Regulation: Fraudulently uses GO Markets’ credentials.
- Questionable Platform Support: No verifiable MT4/MT5 servers linked to the platform.
- Lack of Social Media Presence: Misleading icons with no real accounts.
- Minimal Website Traffic: Nearly no user engagement or presence in the trading community.
10.2 Recommendations for Investors
- Avoid Unregulated Platforms: Without proper oversight, investments are highly vulnerable.
- Choose Reputable Brokers: Select brokers with verified licenses and positive market reputations.
FAQs
1. Was Trust Worthy Traders really established in 2006?
No. Its domain was only registered in 2023, and the platform became operational in 2024.
2. Is Trust Worthy Traders regulated?
No. The platform falsely claims FSC regulation by misusing credentials from GO Markets.
3. Does Trust Worthy Traders support MT4 and MT5?
Unlikely. No servers associated with the platform were found in the MT4/MT5 directories.
4. Are deposits and withdrawals safe?
There is no verifiable evidence supporting the safety or reliability of its payment processes.
5. Can the educational resources on Trust Worthy Traders be trusted?
While they appear extensive, the quality and accuracy of these materials remain unverified.
6. Should I invest with Trust Worthy Traders?
No. Given its numerous red flags, it is safer to choose brokers with clear regulatory compliance and a strong reputation.