This Trive Broker review will look into the broker’s history, its features, customer reviews (both positive and negative), and a detailed guide on how to get started with Trive Broker.
Trive Broker is a relatively new player in the online trading space, providing services that cater to both beginner and experienced traders.
You may be considering starting your trading journey or looking for a change in your current broker, this review will help you make an informed decision.
History of Trive Broker
Trive Broker is a forex and CFD (Contract for Difference) broker offering a broad range of financial instruments to traders worldwide.
Despite being a newer entrant, Trive Broker aims to establish itself as a reliable choice by providing a combination of essential trading tools and features.
The broker operates globally, though it is regulated under the Malta Financial Services Authority (MFSA).
Trive offers access to multiple trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and its proprietary mobile app, allowing traders to execute trades on various devices.
Features of Trive Broker
Trive Broker comes with a set of features that can help traders of all experience levels.
1. Regulated Platform
Trive Broker is regulated by the Malta Financial Services Authority (MFSA), which ensures that the platform adheres to specific standards for transparency and fairness
2. Multiple Trading Platforms
Trive provides access to the popular MetaTrader 4 and MetaTrader 5 platforms, both of which are known for their user-friendly interfaces and powerful trading capabilities. Traders can also use the Trive Mobile App for on-the-go trading.
3. Wide Range of Assets
Trive offers more than 30 currency pairs, CFDs on indices, commodities, stocks, and even cryptocurrencies like Bitcoin and Ethereum.
Diversity in assets enables traders to diversify their portfolios and trade across various markets.
4. Leverage and Spread
Trive offers leverage up to 30:1, which can amplify potential profits (and risks). The spreads depend on the asset being traded and can vary by account type.
5. Minimum Deposit
One of the most attractive features of Trive Broker is the low minimum deposit requirement. Traders can start with as little as $1, making it accessible to those with smaller budgets.
6. Payment Methods
Trive Broker supports various deposit and withdrawal methods, including bank wire transfers, Visa, MasterCard, Neteller, and Skrill.
Pros of Trive Broker
Like any broker, Trive has its pros and cons.
1. Low Minimum Deposit
One of the standout benefits of Trive Broker is the low minimum deposit requirement of just $1.
This makes it accessible for new traders who want to test out the platform without committing significant funds upfront.
2. Regulated by MFSA
As a regulated broker, Trive operates under the supervision of the Malta Financial Services Authority.
This regulation ensures a level of trust and security for traders, knowing that their funds and trades are protected by industry standards.
3. Variety of Trading Instruments
Trive Broker offers a wide selection of assets, including forex pairs, commodities, stocks, indices, and cryptocurrencies, which allows traders to diversify their portfolios.
4. Multiple Platforms
With support for both MetaTrader 4 and MetaTrader 5, along with a dedicated mobile trading app, Trive ensures that traders can trade wherever they are, using platforms they are familiar with.
5. User-Friendly Interface
Both the desktop and mobile versions of the trading platforms are easy to navigate, even for beginners.
This simplicity helps reduce the learning curve, making it easier for traders to execute trades effectively.
Cons of Trive Broker
1. While Trive Broker does provide some tools for traders, its educational offerings are not as comprehensive as some other brokers.
This can be a drawback for beginners who require more detailed guidance on trading strategies or market analysis.
2. Trive Broker is not available in all countries. Some regions may face restrictions, which limit accessibility for potential users in those areas.
3. Lack of Transparency on Fees
While the broker offers various trading features, the full range of fees for different types of trades is not always clearly outlined.
This lack of transparency could create confusion for traders, especially those new to the market.
Customer Review of Trive Broker
As part of this Trive Broker review, it’s essential to look at customer feedback.
Customer review for Trive Broker have been mixed, with some traders praising its ease of use and low deposit requirements, while others express concerns about the platform’s transparency and customer support.
Positive Reviews
Many users appreciate the ease of use of Trive’s platform, particularly for those new to trading.
Users from a trading forum shared.
1st User
“I’ve been using Trive for a couple of months now, and I have to say, it’s been a smooth experience. The platform is easy to use, and the spreads are competitive. I started with the minimum deposit of $1, and I’ve been able to trade a variety of assets without any issues.”
2nd User
“Trive Broker has a great selection of instruments. I can trade forex, cryptocurrencies, and even commodities like gold and oil. I’ve made a decent profit from my trades and really appreciate the user-friendly platform.”
3rd User
“The mobile app is fantastic. I can trade on the go, and the interface is simple. I also like the fact that they offer low leverage, which helps reduce risk for new traders like me.”
4rd User
“I was able to start trading with just $1, and the platform was simple to use”.
Negative Reviews
User 1
“I’ve had some problems with withdrawals. They’re supposed to process within 24 hours, but it took over a week for my funds to arrive. It’s frustrating when you need your money quickly.”
2nd User
“The educational resources are lacking. If you’re a beginner, you might struggle to understand some of the more complex trading strategies. I had to look elsewhere for tutorials and guides.”
User 3
“Trive is not available in my country, so I had to use a VPN to access their services. I wish they had more global reach and support for more regions.”
How to Get Started with Trive Broker
Getting started with Trive Broker is simple and can be done in a few easy steps.
1. Sign Up
First, visit the Trive Broker website and create an account. You’ll need to provide your personal details, including your name, email, and phone number.
2. Verify Your Account
After registration, you’ll be required to verify your account. This typically involves submitting identification documents, such as a government-issued ID and proof of address, to ensure compliance with regulatory standards.
3. Make a Deposit
Once your account is verified, you can make a deposit. Trive offers several payment methods, including VISA, MasterCard, Skrill, and Neteller.
You can start trading with as little as $1.
4. Choose Your Trading Platform
Trive Broker provides access to MetaTrader 4 (MT4), MetaTrader 5 (MT5), and their mobile app.
You can select the platform that you are most comfortable with. MetaTrader platforms are popular for their versatility and advanced charting tools, which are great for both beginners and seasoned traders.
You can also use the mobile app for trading on the go.
5. Start Trading
Once you’ve funded your account and selected your platform, you can begin trading. You’ll have access to a wide range of instruments, including forex pairs, stocks, commodities, and cryptocurrencies.
It’s recommended to start with a demo account to practice before jumping into live trading.
6. Withdraw Funds
If you wish to withdraw funds, you can do so via the same payment methods you used for your deposit.
Remember, withdrawal times may vary depending on your payment method, and some reviews suggest that the process can take longer than expected.
Frequently Asked Questions
1. Is Trive Broker a Reliable Platform for Trading?
Yes, Trive Broker is a regulated platform under the Malta Financial Services Authority (MFSA), which ensures that the broker follows industry standards for transparency and client protection.
However, like any trading platform, it comes with its own set of risks, and traders should always do their research before investing.
2. What is the Minimum Deposit on Trive Broker?
The minimum deposit required to start trading with Trive Broker is only $1, which makes it an attractive option for those who are just starting or want to test the platform with minimal financial risk.
3. Can I Trade on Mobile with Trive Broker?
Yes, Trive Broker offers a mobile app for trading, making it easy to trade on the go.
The app is user-friendly and designed to provide full access to the platform’s features, so you can monitor your trades and make quick decisions even when you’re not at your computer.
4. What Are the Withdrawal Times for Trive Broker?
Withdrawal times can vary based on the payment method you use. Bank transfers may take several business days, while e-wallets like Skrill or Neteller might process within a few hours.
Some reviews have noted that withdrawals can sometimes take longer than expected, which is worth considering if you need fast access to your funds.
Conclusion
In this Trive Broker review, we have explored the various aspects of the platform, including its history, features, customer reviews, and how to get started with trading.
However, some users have reported issues with withdrawal times and a lack of in-depth educational resources.
Despite these drawbacks, the low deposit requirement and ease of use for mobile and desktop platforms make Trive Broker a reasonable option for those starting in the trading world.
Overall, if you’re looking for a simple platform to begin your trading journey and are comfortable with basic trading tools and minimal support resources, Trive Broker might be worth trying.
Always make sure to do your due diligence and start with a demo account to practice before trading with real money.