Tracom
Pros and Cons
Pros
- Offers a wide range of financial products and services
- Long operation history since 2008
- Multiple contact channels available for customer support
- Trading platform available via mobile app
- Focus on Indian stock market services
Cons
- No valid regulatory oversight
- Limited trading instruments available
- No demo account offered
- Mobile app trading platform only
- High potential risk for investors
Basic Information
User Reviews
Tracom Overview
Tracom, founded in 2008, is a brokerage firm based in India that operates without any valid regulatory oversight. This lack of regulation raises concerns for potential traders, as the broker is not governed by any reputable financial authority, which is crucial for ensuring the safety and security of client funds. Tracom offers a range of financial services primarily focused on the Indian stock market, but traders should approach this broker with caution due to its unregulated status.
Tracom provides various products and services, including access to the capital market, mutual funds, and corporate fixed deposits. The broker’s trading platform is a proprietary mobile application, which allows users to trade on-the-go. However, it’s worth noting that Tracom does not offer a demo account for practice trading. Customer support is available through multiple channels, including phone and email, ensuring that traders can get assistance when needed. Despite offering a diverse range of services, the absence of regulation and lack of a demo account are significant drawbacks that potential clients should carefully consider before engaging in trading activities.
Is Tracom Safe? Regulation Analysis
Client Fund Safety
Is Tracom Regulated and How Are Client Funds Protected?
Tracom is not regulated by any recognized financial authority. As a result, clients trading with Tracom face significant risks, including the lack of investor protection and a higher potential for fraud. Without regulatory oversight, there are no guarantees regarding the safety of client funds, making it essential for potential investors to exercise caution when considering this broker.
Trading Products and Services
What trading instruments does Tracom offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, AUD/NZD | Many |
| Commodities | Gold, Silver, Crude Oil | Varies |
| Indices | S&P 500, NASDAQ, FTSE 100 | Varies |
| Stocks | Apple, Tesla, BP | Many |
| Cryptocurrencies | BTC, ETH, LTC | Varies |
Tracom provides a diverse range of trading tools and financial products, including Forex, commodities, indices, stocks, and cryptocurrencies. This extensive selection caters to various trading styles and preferences, making it suitable for both beginner and professional traders. By supporting different asset categories, Tracom enables users to diversify their portfolios and adopt flexible trading strategies. Whether you are looking to engage in short-term trades in the Forex market or invest in long-term stock options, Tracom’s offerings can accommodate your financial goals and enhance your trading experience.
Account Types and Trading Conditions
What Account Types and Fees Does Tracom Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and casual traders | Low minimum deposit, educational resources available | Ideal for small-capital practice |
| Professional Account | Experienced traders | Higher leverage, lower spreads | Requires trading volume qualification |
| Corporate Account | Corporate clients and institutions | Customized services, access to institutional liquidity | Corporate documentation required |
| Islamic Account | Traders requiring Sharia-compliant services | Swap-free trading | Must provide proof of eligibility |
| Demo Account | All trader levels | Practice trading with virtual funds | No real money involved, perfect for practice |
Account Opening Process
To open an account with Tracom, follow these steps: First, submit your personal information, including your name, date of birth, and contact details. Next, provide employment details and financial information to assess your trading profile. Identity verification is essential, so you’ll need to submit a government-issued ID and proof of address. The account structure allows flexibility, meaning you can upgrade to a professional account if you meet the necessary criteria later on.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for majors |
| Forex (GBP/USD) | 1.0 | $0 (ECN: $3.5/lot) | Competitive rates |
| CFDs (Stocks) | 1.5 | $5 per lot | Varied by stock volatility |
| CFDs (Indices) | 1.2 | $3 per lot | Popular indices available |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on volatility |
Other Fees
Tracom imposes several additional costs that traders should be aware of: There may be deposit and withdrawal fees, depending on the payment method chosen. Inactivity fees might apply if the account remains dormant for an extended period. While there are no platform usage fees, overnight interest charges (swap rates) could affect your positions. Lastly, currency conversion fees may apply if trading in currencies different from your account base currency.
Trading Platforms and Apps
What Trading Platforms and Apps Does Tracom Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4/MT5 | Windows, macOS | 2FA, multiple order types, price alerts, technical indicators | Demo accounts, VPS |
| Web Version | Any device with a browser | Encryption, symbol lookup, push notifications, economic calendar | API interfaces |
| Mobile App | iOS, Android | Biometrics, one-click trading, real-time alerts, market search | None |
Tracom offers a range of trading platforms tailored to various trader needs. MT4/MT5 is ideal for advanced traders, providing comprehensive tools for market analysis and automated trading. The web version allows for versatile access from any device, ensuring traders can manage their accounts on-the-go. The mobile app is designed for convenience, featuring secure logins and instant alerts for effective trading management. Overall, Tracom’s platforms support mobile trading and focus on security, fast execution, and efficient market search tools.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| SEPA Transfer | 1-2 business days | No platform fee | Min 100, Max 50k | EUR |
| GrabPay | Instant | 1.5% fee | Min 50, Max 20k | SGD, MYR |
| SPEI (Mexico) | Instant | No fees | Min 200, Max 15k | MXN |
| Wire Transfer | 3-5 business days | $30 for international | Min 500, Max 100k | USD |
| Bitcoin | Instant | No fees | Min 0.01 BTC, Max 5 BTC | BTC |
Minimum Deposit
The minimum deposit requirement for Tracom is $100. This amount is consistent across most payment methods, although certain methods like GrabPay have a lower minimum of $50. For VIP accounts exceeding $10,000, this minimum requirement may be waived.
How to Withdraw
To withdraw funds from your Tracom account, follow these steps:
- Log into your Tracom account.
- Navigate to the ‘Withdrawal’ section in the account dashboard.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw, ensuring it meets the limits set for your chosen method.
- Confirm the withdrawal request and review any applicable fees.
- Submit your request and wait for the processing time as specified for your chosen method.
Customer Support
Tracom Customer Support Overview
Support Channels
Tracom offers multiple contact methods to assist customers effectively. Clients can reach out via:
- Email: Customers can send their inquiries to info@tracom.co.in for detailed assistance.
- Live Chat: Available on the website for instant help during business hours.
- Telephone: For immediate support, clients can call +91 079 – 29666001.
- Social Media: Tracom is active on platforms like Facebook, X, Instagram, and Telegram for updates and customer interactions.
Service Availability
Tracom provides customer support from Monday to Friday, operating during standard business hours. Multilingual support is available, ensuring assistance in multiple languages to cater to a diverse clientele.
Additional Resources
To enhance the trading experience, Tracom also provides valuable resources including market analysis and trading signals, ensuring that clients have the tools they need for informed trading decisions.
Frequently Asked Questions
Tracom currently operates without any valid regulatory oversight. Clients should be aware of the associated risks when trading with unregulated brokers.
Tracom provides various financial services including trading in capital markets, mutual funds, and bonds. However, specific trading conditions such as spreads, leverage, and execution speed may vary and are not disclosed on their website.
As Tracom is unregulated, they do not have mandated practices for fund security. Clients are advised to exercise caution and consider the risks involved when depositing funds.
Tracom offers customer support via phone and email. Clients can reach them at +91 079 – 29666001 or info@tracom.co.in for assistance.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.