Trans X Market Limited is a platform that claims to offer trading services in various financial products like forex, indices, and commodities. The official website is https://transxmarket.com, and the domain was registered on June 23, 2023. The platform claims to be operated by Trans X Market Limited and authorized by the Financial Services Registry of Saint Lucia, with IBC number 2023-00543. However, upon thorough investigation, this company could not be found in the official registration records of Saint Lucia. Additionally, Saint Lucia does not regulate financial derivatives, thus casting doubt on the platform's regulatory status. Investors should exercise extreme caution and avoid conducting financial transactions on this platform.
Corporate Background of Trans X Market:
Trans X Market Limited is a platform that claims to offer trading services in various financial products like forex, indices, and commodities. The official website is https://transxmarket.com, and the domain was registered on June 23, 2023. The platform claims to be operated by Trans X Market Limited and authorized by the Financial Services Registry of Saint Lucia, with IBC number 2023-00543. However, upon thorough investigation, this company could not be found in the official registration records of Saint Lucia.
Regulatory Information of Trans X Market:
Additionally, Saint Lucia does not regulate financial derivatives, thus casting doubt on the platform's regulatory status. Investors should exercise extreme caution and avoid conducting financial transactions on this platform.
Account Registration Process of Trans X Market:
The account registration process for Trans X Market is relatively simple. Users only need to log into the official website, fill out basic application information, and submit identity verification documents to start trading after making a deposit. However, despite the standardized registration process, the platform's legality and transparency issues make submitting personal information and funds a significant risk.
Account Types of Trans X Market:
The platform offers four types of accounts to cater to the needs of different types of investors:
Standard Account:
- Spreads from 1.5 pips
- No commission
- Minimum deposit: $10
Prime Account:
- Spreads from 1.0 pips
- No commission
- Minimum deposit: $500
Ultra-Low Account:
- Raw spreads
- Commission: $7 per lot
- Minimum deposit: $2000
Cent Account:
- Spreads from 1.5 pips
- No commission
- Minimum deposit: $10
Despite the wide variety of account types, ranging from low-threshold Standard accounts to more advanced Ultra-Low accounts, the lack of regulation and legitimacy of Trans X Market brings the safety of these accounts into question. Investors should choose carefully, especially for accounts with higher minimum deposits, to avoid placing substantial funds into an unregulated platform.
Trading Software of Trans X Market:
Trans X Market uses the widely recognized MetaTrader 5 (MT5) as its primary trading platform. MT5 is an industry-acknowledged trading software that provides advanced charting tools, technical analysis, and multi-asset support. However, while MT5 is a reliable tool, the overall legality and safety of funds on the platform remain in significant doubt.
Trading Products of Trans X Market:
Trans X Market claims to offer trading in various financial products, including forex, commodities, stocks, indices, and cryptocurrencies. Despite the broad range of trading products that can meet the needs of different investors, the platform fails to provide detailed information on key cost structures, such as spreads, leverage, and commissions.
What are the Spreads, Leverage, and Commissions of Trans X Market?
It is known that Trans X Market's four account types offer different standards for spreads and commissions. For example, the Ultra-Low account features raw spreads but charges a commission of $7 per standard lot, whereas the Standard Account and Prime Account have no commissions, with spreads starting from 1.5 pips and 1.0 pips, respectively. However, it remains uncertain whether there are any hidden costs associated with these trading fees. Investors should read the platform's terms and conditions carefully before starting to trade, ensuring they are aware of all potential costs.
What are the Deposit and Withdrawal Methods of Trans X Market?
Trans X Market does not detail its deposit and withdrawal methods on its official website. This makes it difficult for investors to understand the processes of fund deposits and withdrawals, processing times, and potential fees. Legitimate platforms typically disclose multiple deposit and withdrawal options such as credit cards, bank transfers, and e-wallets, clearly stating the processing fees and times. The lack of transparency from Trans X Market in this area adds to the uncertainty surrounding fund operations.
Customer Support of Trans X Market:
Email: support@transxmarket.com
Conclusion:
As a platform claiming to offer multiple financial product trading services, Trans X Market faces significant issues in crucial areas such as corporate background, regulatory information, and fund safety. Although the platform provides various account types and uses the renowned MT5 trading software, its undisclosed corporate registration and lack of regulation severely affect its credibility. Moreover, the platform's claim of being regulated by Saint Lucia is unfounded, as Saint Lucia does not regulate financial derivatives trading, further indicating the platform's lack of legitimacy and compliance. Investors should exercise extreme caution when considering Trans X Market and avoid investing funds in an unverified platform. Choosing a trading platform with legal regulation, transparent fee structures, and excellent customer support is key to ensuring the safety of funds and smooth trading.
