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As an independent forex trader with years of hands-on experience, my assessment of Trade Capital Markets (TCM) is rooted in a thorough evaluation of its regulatory standing, operational transparency, and reputation among traders. On the surface, TCM is regulated by CySEC in Cyprus, which usually provides a baseline level of oversight. They also hold a full MT4 license, suggesting a mature technical infrastructure, and my research confirms they maintain a physical office address in Cyprus, which adds a modest degree of legitimacy. However, there are a number of cautionary signals that, for me, weigh heavily. TCM’s claimed license from South Africa’s FSCA is flagged as a suspicious clone, which undermines confidence in its adherence to proper international regulatory standards. More concerning is the feedback from other traders: several have reported significant trouble with fund withdrawals, and some describe problematic or deceptive behavior after deposits are made. As a conservative trader who highly values precedent and user experience, these unresolved complaints—especially about withdrawal restrictions—cannot be overlooked. Further, I notice TCM does not appear to offer demo accounts, and key details like fee structure, spreads, and minimum deposits are not clearly disclosed. This lack of transparency is, in my view, incompatible with what a trustworthy broker should provide. While TCM’s CySEC regulation does protect clients to some extent, the potential for operational risk remains higher than I am personally comfortable with. In conclusion, I believe that while TCM has some regulatory legitimacy, the combination of negative user reports, suspicious licensing, and missing transparency means I would exercise significant caution and look for brokers with a cleaner track record before committing any meaningful funds.