TrioMarkets is a newer dealer offering access to spot Forex, CFDs, and commodities. Its standard MT4 trading platform, Straight Through Processing (STP), and platform plugins and tools may be compelling. TrioMarkets accepts clients from the Eurozone as well as the U.S. and provides educational courses and videos specific to their products and the markets in general. TrioMarkets hit a few rough spots in our review for not providing slippage protection, additional deposit insurance, higher than average costs and fees in the standard account, and some missing markets.
TrioMarkets uses Straight Through Processing (STP) and allows transactions during major financial news events without restriction. The spreads we observed were narrow, but the added commission cost in the standard account increased the blended spread significantly. However, traders that can meet a minimum account value to qualify for a "premium" account may see a possible 0.0000 (minimum) spread plus a more moderate commission. Spreads are still subject to market volatility and liquidity. We were surprised by the higher than average account and inactivity fees, which also lowered their rating. During our review, we found some important information about costs and spreads was incorrect on the website, so traders should confirm everything with a representative before considering an account.
TrioMarkets advertises that they protect deposits by having the funds held in segregated accounts at Barclays' bank in the UK; however, the account contract does not actually specify where funds will be held, so this arrangement may be subject to change. Because the broker is registered and regulated in Cyprus there is account protection for up to 20,000 euros from the Investor Compensation Fund. Additional protection for the segregated accounts is uncertain. TrioMarkets does not provide slippage protection or guaranteed stops, which could be a concern during periods of market volatility. The website also does not use additional security beyond SSL.
TrioMarkets is a trading name owned and operated by EDR Financial LTD and is registered as a Cypress Investment Firm (CIF) and regulated by the Cyprus Securities and Exchange commission (CySEC) under the license number HE336081. Custodial accounts of your choosing are not available. Additional protection for deposits may be available through the broker's registration with the FCA, but the contract was not specific enough to draw that conclusion.
Most of the special features we look for when evaluating a broker were available at TrioMarkets because they use the MT4 platform. One addition to the standard MT4 features is the ability to create a PAMM account for money managers. Trio also offers interest free and Shariah compliant accounts. TrioMarkets uses Straight Through Processing (STP) to pass your orders directly to the underlying liquidity provider. Active traders like STP because it can potentially provide more transparency and lower costs than competitors in the industry.
Traders looking for the ability to manage multiple accounts will be interested in TrioMarkets' PAMM account functionality. Straight Through Processing could be beneficial for some traders, but we would suggest having a conversation with any broker advertising STP to make sure you understand how that process actually works. Based on the higher than average blended-costs, it is unclear whether TrioMarkets is able to keep the trading process efficient.
TrioMarkets' clients can use the popular MetaTrader 4 platforms for trading. MT4 includes advanced charting, studies, watchlists and trade automation through EA's and plugins that many traders appreciate. Because the MT4 platform is such a well-known industry standard, traders moving to TrioMarkets from other brokers will be familiar with its functionality. TrioMarkets also makes available advanced plugins for MT4 to analyze trader sentiment, perform data exports, and use advanced indicators. On the downside, the look and feel of the application is a little dated and some functions can be clunky.
One of the more popular aspects of the MT4 platform is the ability to add both auto-trading and custom indicators through plugins called "Expert Advisors" or EAs. MT4 also allows investors to trade from the charts and save layouts and chart profiles -- features we've come to expect and appreciate. TrioMarkets also offers custom plugins for MT4 that include social sentiment indicators, correlation trackers, data download capability, and advanced alerts management.
MT4 has been around for a while and it looks and acts dated. Audible alerts can be annoying and are difficult to customize. Some common functions like scrolling or zooming on a chart are very "clunky" and will be frustrating for traders familiar with MultiCharts or other modern charting applications. Creating or modifying EAs is also difficult and the programming language is unique and challenging for traders to learn.
TrioMarkets' mobile trading platform is the MT4 mobile app, which includes interactive charts with price overlays, 30 indicators, flexible time frames, and multiple chart types. Other features include the ability to trade from multiple accounts, a news feed, and position editing.
As with the desktop application we like that the standard navigation and easy to use menus created an uncomplicated experience. The same robust charts with integrated order entry helped unify the experience with the desktop application. Complex order types can be entered including buy, sell and trailing stops. And, unlike the desktop application, we like that the news feed, economic announcements, and calendars opened inside the application itself.
Security options weren't very customizable which is a concern considering that the mobile app can provide access to your entire trading account. The MT4 mobile app charts can be a little crowded and were finicky to navigate and zoom.
TrioMarkets' customer support is available 24/7 but response time was slow for email. Chat was intermittently available for demo accounts and phone responses were decent with longer than average hold times. The representatives we spoke with were courteous and corrected incomplete or inaccurate information listed on TrioMarkets' website for us. The FAQ was also useful and should answer most routine questions during account setup.
Despite the slow email responses, customer service overall was good but access for demo accounts could be intermittent. TrioMarkets was hit slightly in our review for not having retail branches or accessibility services. We were impressed with the promised turnaround times for withdrawals; however, part of the urgency to send your money out may be due to the withdrawal fees that TrioMarkets charges.
TrioMarkets offers the typical array of news feeds and an economic calendar that traders would expect. The custom news updates were mostly market-wrap style items which can be useful if not particularly timely. We had some quality concerns with the market review articles that most traders will also notice. The default news feed available in MT4 will probably be more helpful for traders analyzing the markets in real time. Daily charting videos are also provided, which had poor audio quality, but the content was helpful and actionable. We believe that investors will get the most value by doing their own research through MT4 and TrioMarkets' analytical plugins.
TrioMarkets provides standard news and calendars as would be expected with most dealers. Video analysis and MT4 plugins are unique and many traders will find them useful. Having the real-time news feed inside the MT4 trading application is convenient and creates a more seamless experience.
We liked the daily videos, but production quality was low. The daily update articles were too short, and the English version was not written very well and could be confusing. Despite many positives, we think some of the quality issues in the analysis tools will be off-putting to many investors.
A series of educational videos and articles is available for investors through "TrioAcademy." The material covers a broad range of topics and was organized in a course format, making it was easy to navigate. Unfortunately, the experience was negatively impacted by images and videos that were dated. We also found the videos to be glitchy on different web browsers. These problems were especially frustrating for TrioAcademy's eBooks. eBooks were available for a variety of investing topics, but content was fairly basic. The fundamental knowledge category offered a little more detail, but the videos were too short and stylized. Like most brokers, TrioMarkets' education wasn't very advanced. The content should be helpful to new investors, but experienced traders won't find many new ideas here.
While we appreciate the fact that TrioMarkets offers more than the average amount of education to its clients, the content was a little dated and we found it to be too basic. Beginners will likely get much more use out of the courses and videos than experienced investors. The platform education was probably the most helpful, even for traders with experience who may be unfamiliar with the MT4 platforms.