Trustwallet Limited is a CFD brokerage website registered on April 27, 2024. It primarily offers trading services in financial derivatives such as forex, precious metals, crude oil, indices, and cryptocurrencies to retail and institutional clients. This broker does not provide services to jurisdictions that might violate local laws or regulations.
Company Registration Information and Regulatory Status:
According to publicly available information on its official website, Trustwallet Limited (trustwalletltd.com) is headquartered in New York, USA, and is registered with the US Financial Crimes Enforcement Network (FinCEN) and the National Futures Association (NFA) with MSB ID 31000263262302 and NFA ID 0561418. However, the company profile page on the website also claims that it is headquartered in Denver, USA, and is one of the 50 largest financial services companies in the United States.
Upon verification, the NFA indicates that the entity with NFA ID 0561418 is SMART GLOBAL, which is a non-member entity and therefore not regulated by the NFA. Similarly, the FinCEN website shows that the entity with MSB number 31000263262302 is SMART GLOBAL, but FinCEN's primary mission is anti-money laundering and does not regulate regular financial derivatives trading.
Thus, Trustwallet Limited (trustwalletltd.com) is essentially a broker website without any real company entity or regulatory oversight and is a scam broker.
Account Opening Process:
To open an account with Trustwallet Limited, visit the broker's official website, click on "口座開設" on the homepage or in the top right corner to access the account registration page. Fill in the required email address and set a login password. The broker will then send a verification code to the provided email. Enter the verification code in the application form and submit it to successfully register the account. After logging in, identity verification is required before making deposits and starting trading.
Trading Account Information:
The Trustwallet Limited website only discloses information such as spreads, trading leverage, and contract size. Information on account types, trading commissions, minimum/maximum trade volumes, maximum positions/order quantities, margin call/stop-out levels, and minimum price precision is not provided.
- Spread: Floating, starting from 1 pip
- Trading Leverage: 1:100
- Contract Size: 1 lot = 100,000 currency units
Trading Platform:
Trustwallet Limited offers the ST5 trading platform to its users, available for both desktop and mobile. This platform provides over 50 technical indicators and intraday analysis tools, along with advanced features for experienced traders.
Deposits and Withdrawals:
Trustwallet Limited does not clearly disclose the supported deposit and withdrawal methods, fees, or minimum deposit/withdrawal amounts on its website.
Conclusion:
Traderknows reminds investors that Trustwallet Limited is a fraudulent broker website with opaque registration and regulatory information, and suspected of false advertising. The only contact method is through email, making it very limited. Its website design and content are identical to those of other fraudulent brokers like Gildencrest Capital, Tosta Global Limited, fbspro, BLK International Exchange Inc, Bestonfx Trading Limited, and fogo forex. Investors are advised to choose brokers with transparent information, strong regulation, and good reputation to avoid unnecessary financial losses.
Currently, this broker is marked as "Suspected Fraud" on Traderknows.
