Trust Worthy Traders claims to have been established in 2006 as a brokerage firm providing Contract for Difference (CFD) trading services. However, a lookup of the domain registration information reveals that the company's official website domain trustworthytraders.com was actually registered on October 17, 2023, and was purchased and used by the Trust Worthy Traders team on September 30, 2024.
Regulatory Information
The platform claims on its official website that its operating entity, Trust Worthy Traders Pty Ltd, is registered in Mauritius and regulated by the Financial Services Commission (FSC) of Mauritius, providing registration number 170969 and regulatory number GB19024896.
However, investigation found that this information belongs to another well-known broker, GO Markets, registered in Mauritius with the company GO Markets Pty Ltd. The platform has misused GO Markets' registration and regulatory information to mislead investors, as it is actually an unregulated scam entity.
Website and Branding
The official website has an average monthly visit of less than 100 times (data source: Semrush), indicating that virtually no one uses their platform. Its website template is identical to those of multiple platforms accused of fraud, such as 7staroptions, Uaeinternationalinvestads, and Universal Cryptosphere Trade, further intensifying its fraudulent suspicion.
Trading Instruments and Account Types
The official website claims to offer CFD trading services for forex, stocks, indices, precious metals, commodities, and cryptocurrencies. The account types include a GO Plus+ Account and a Standard Account. The GO Plus+ Account offers spreads starting from 0.0 pips with a one-way commission of 3 AUD, while the Standard Account offers spreads starting from 1 pip without charging commissions.
Trading Software and Client Support
The platform claims to support MT4 and MT5 trading platforms, compatible with both mobile and web. However, the TraderKnows team could not find any server records for Trust Worthy Traders Pty Ltd in the MT4 and MT5 server lists, indicating possible falsehoods in its software claims.
Educational Resources
The official website provides a series of educational resources, including introductory courses like "Forex Basics" and "Forex Advanced Courses," articles on trading psychology and strategies, MT4/MT5 tutorials, as well as podcasts, webinars, and toolkits designed specifically for traders.
Deposit and Withdrawal Methods
The official website shows support for deposits and withdrawals through Mastercard, Visa, Skrill, Neteller, and bank transfer. Despite the variety of payment methods, the credibility of this information is very low for a company with no regulatory record.
User Reviews and Social Media
No user reviews related to Trust Worthy Traders can be found online, which is highly unusual for a financial broker. Though its official website shows social media icons, no related social media accounts are actually operated. This lack of transparency increases investor doubts.
Agency Policy
The platform offers two agency policies: White Label and Referral Program. The White Label model allows partners to use the brand's trading platforms and technology, while the Referral Program provides commissions for referring customers. However, these policies might simply be a ruse to attract investors without offering real value.
Risk Summary
Based on the above analysis, it is evident that Trust Worthy Traders displays serious signs of fraud. Below is a specific risk summary:
- False Establishment Date: The company claims to have been founded in 2006, but domain information shows it was first registered in October 2023, completely exposing its false claims.
- No Regulatory Protection: The company misuses GO Markets' registration and regulatory information to create a false impression of regulatory trust, yet it is not regulated by any financial institution.
- Low Website Traffic: The official website's average monthly visit is less than 100 times, virtually unused.
- Questionable Trading Software Authenticity: No record of Trust Worthy Traders was found in the MT4 and MT5 server lists.
- No User Reviews or Social Media Accounts: The absence of user reviews and social media presence increases its untrustworthiness.
- Fraudulent Template Features: The website uses the same template as several platforms accused of fraud.
- Agency Policy and Educational Resources Potentially a Facade: These policies and resources might just be bait to attract investors, not truly reliable services.
Conclusion: Trust Worthy Traders is not a trustworthy platform, and investors are advised to steer clear of this company to avoid financial loss and other potential risks.
