TrustGarden Broker Review- Detailed Analysis
At first glance, TrustGarden disappoints. The first thing a potential client sees is a field where they can enter their email, and pretty much nothing else.
This should be of concern because before providing any information this scam broker tries to get access to contact information.
The next red flag is raised as soon as a client clicks on the About section. Here, clients will be greeted with a vision statement, a mission statement, some values, and nothing of any real significance.
Perhaps the final and most important nail in the coffin for TrustGarden is the fact that they are based in the Marshall Islands, an offshore location with no real regulatory body looking out for the investor.
Scam brokers like TrustGarden use offshore locations where the rules that tier-one regulatory firms enforce do not apply. This means that there is nothing ensuring that you will ever see your money again.
Another concerning factor is that a free demo account is not made available to investors, so you have no real way of knowing if you really want to invest with this broker until you have made your minimum deposit of 250 USD.
Add to this list the warning issued by the CONSOB (Italian regulatory body), investors can see that this broker is bad news. All of these common marks of scam brokers that investors should be on the lookout for before depositing any money with a particular broker.
In similar, we advise you not to invest with these dishonest brokers like TradesUniversal, TdTrade, and 24FB-Trade.
|Minimum Deposit||250$ or 5000$|
TrustGarden Regulation and Safety of Fund
Like most investment scams, this one too is located offshore, in the Marshall Islands. TrustGarden is as far from licensed and regulated as it could possibly be.
The Marshall Islands, as well as other offshore locations, are safe havens for scam brokers where they can break all the rules that tier one regulators put in place as a means of protecting investors.
This means that whilst there are a few methods that money can be recovered in case of a scam occurring (which is likely with offshore brokers) most investment scams push clients into making deposits via cryptocurrency making it nearly impossible to recover the lost funds.
Review of TrustGarden’s Trading Platform
One of the most common negative reviews that TrustGarden receives is for its use of a web-based trading platform that leaves a lot to be desired in terms of the tools that are provided to investors.
This is common with scam brokers, they provide their clients with a poorly built web-based trading platform that is a far cry from the industry standard tools seen in MetaTrader 4-5.
The primary issue with this kind of trading platform is the lack of customization and the inability to make quality decisions about your investments due to the poor selection of tools available.
When choosing a broker make sure that they are providing industry-standard trading tools.
TrustGarden Deposit and Withdrawal Methods
Like the majority of illegitimate brokers, TrustGarden claims to accept payments via Visa, Mastercard, and wire transfers; however, there is nothing on their website that would indicate that this is true.
Many investment scams are run like this, the broker pretends to offer legitimate payment methods whilst nudging the investor towards paying with cryptocurrency.
The only methods of making a deposit that seems to actually be available are by Visa or Coindeck a crypto purchasing platform.
Here’s an Example of How the Scam Works
This scam, like many others in this industry, preys on people who are looking for a get-rich-quick scheme.
These scams begin with Facebook / social media ads that offer potential clients an investing opportunity that is too good to be true.
Once a client clicks on the ad link the scammer’s goal is to get your contact information like email and phone number so that they can proceed to bombard you with “Investment plans”.
By this point, some number of people have created an account and the scam broker pushes them towards making their deposits in cryptocurrencies, making it impossible for a chargeback to occur due to the anonymous nature of payments made with crypto.
It should be a very clear warning sign if a broker is pressing for a deposit in crypto that they intend on making off with your money, or at the very least making it impossible for you to make a withdrawal.
Highly Recommended Forex Brokers
When deciding on investing, it’s important to find a legitimate broker. Usually, those with Tier1 regulation will provide you with the highest level of security, negative balance protection, and more.
The advantage of these firms is the fact that they ought to have a compensation fund to reimburse potential victims.
Those eager to invest can find a list of safe and tier one regulated brokers below:
|FXTM Broker||Cyprus, UK, Kenya, and Mauritius||4.5||10$ USD||Forextime.com|
|OctaFX Broker||SVG and Cyprus||4.4||100$ USD||Octafx.com|
|FP Markets Broker||Australia, Cyprus, and SVG||4.7||100$ AUD||FPMarkets.com|
|XM Broker||Belize, Australia, and Cyprus||4.7||5$ USD||Xm.com|
|HFM HF Markets Broker||SVG, Cyprus, and South Africa||4.3||5$ USD||Hfm.com|
|FBS Broker||Belize, Australia, and Cyprus||4.85||1$ USD||Fbs.com|
TrustGarden is not a legit broker. It’s yet another offshore scam broker based in the Marshall Islands and blacklisted by the Italian CONSOB.
If you take a look at all the concerning facts, starting from the confusion about the minimum deposit, all the way to unregulated leverage, you will understand the point.
And that is to stay away from TrustGarden broker. Otherwise, you risk becoming the next scam victim.
FAQs About Trustgarden Broker
What Funding Methods Does Trustgarden Accept?
The broker claims to accept the standard legitimate payment methods such as Visa, Master card, and wire transfers however nothing on their website indicates that this is true.
Is Trustgarden Trading Legit?
TrustGarden is not licensed therefore they are not a legitimate brokerage.
Does Trustgarden Offer a Demo Account?
TrustGarden does not provide its users with a free demo account.