Trustpac Review: Truth About This Scammer
Trustpac advertises its platform as the most innovative way to invest and trade with market- leading spreads, zero commissions, and over 3000 of the world’s most popular assets. This broker also claims to be a holder of many awards and also a very good regulation. Sadly, just like many other scam brokers of this type, it’s all just one big fabrication of lies. And that’s exactly why we wrote this Trustpac review as we wanted to shine more light onto this offshore investment scam.
|Regulation||Unregulated scam broker|
|Phone||+44 7488872776 +44 7488872776|
Trustpac Regulation and Security of Funds
Ah, we just love when the fraudulent brokers lie so poorly about having a regulation. The same goes for the Trustpac broker. Trustpac is one of the many anonymous brokers out there that didn’t even manage to provide basic information such as their address or even the country they operate from.
The only thing they have provided on their website is the phone number that has an area code starting with +44, which is a UK number. And of course, we had to check if they are really based in the UK.
So, we decided to check what the UK’s Financial Conduct Authority (FCA) had on Trustpac in its database. The FCA is a reputable Tier 1 financial watchdog with tight regulatory rules. Unsurprisingly, all the regulator has on this broker is a scam warning.
That’s why it’s safe to say that Trustpac, alongside FXtradewolf, is just another unregulated scammer that is operating offshore.
Trading Platform Overview of Trustpac
Trustpac offers just one trading platform and it’s a basic Web Trader. And this scammer advertises it as if it were a world-class platform. Truth to be told, Web Traders are not necessarily bad but they lack a lot of functions that you would get with the MetaTrader4 and MetaTrader5.
In reality, WebTrader is an oversimplified browser-based terminal with limited features. We even got to see it and it’s nothing special. You will only get some basic charts and graphs, there’s nothing there, no advanced tools or anything else. That’s why it’s better to work with a regulated broker that offers MT 4 or 5.
Account Types at Trustpac
In the true anonymous manner, the Trustpac broker doesn’t even have any account types listed anywhere on their website.
The company doesn’t list any perks you can get if you pay a higher sum. It’s quite unusual since most legit brokers give certain benefits for larger investments.
In addition, Trustpac Demo or Islamic accounts are also unavailable. Clients cannot review the platform or exercise their right to trade swap-free. All in all, this brokerage is unfavorable and completely non-transparent.
Deposit and Withdrawal Options
The broker stated on their website that the offer the following deposit methods:
- Visa or Master credit or debit card
- Wire transfers
The Trustpac withdrawal fees are insane. Namely, the broker charges 3.5% on card withdrawals and $20 on wires, provided that Trustpac performs any withdrawals. We know many traders had issues and thus wrote complaints against the broker.
As for the leverage, the maximum level that Trustpac allows is 1:100, which is high. It violets the rules set by the FCA and ESMA, where the leverage caps at 1:30. This and many other stuff are all indicators you are dealing with a scammer.
How the Fraud Is Conducted
These scams are way more common than many people think and you may have already read about it in our Bullexo review. But it all starts innocently enough with the ads for the broker who promises enormous profits and great trading conditions. Out of curiosity, you may decide to leave your personal data as they request it in order to tell you more.
After doing so you will keep getting calls and e-mails from the broker and would be asked to sign up on their platform. These people are experienced scammers and very well-prepared to smooth-talk you into investing money with them.
The moment you allegedly make some profit and try to withdraw your investments marks a turning point. They will try making up reasons why this is impossible such as unexpected clauses in the Terms and Conditions, or additional taxes.
In this Trustpac review we wanted to warn you about this scam broker that is trying to stay anonymous. Even though their website does not look that bad, that is the only good thing we can say about them. There is no country they are from, no email, no leverage stated anywhere. So, nothing more than a quickly put together cheap scam.
But the best part is that they did manage to get a warning by Tier1 regulator FCA, which is enough of a red flag for you to just stay away from them. They supposedly give their clients an opportunity to invest in forex, crypto, stocks, indices, and shares, but in reality, what they are doing is just stealing your money.
Please be sure to think twice before you invest your money anywhere and stay away from brokers who falsely claim to be award winning.
FAQs About Trustpac Broker
Is Trustpac a Legit Broker or a Scam?
Trustpac is a lousy scam broker that failed to provide something as basic as the country they are from.
What Methods Can I Use to Fund My Trustpac Account?
The depositing methods Trustpac scam broker allows are credit and debit cards as well as wire transfers.
What Trading Instruments are Available at Trustpac?
Trading instruments this broker offers trading with include CFDs, commodities, indices, forex and crypto.