TFI
Pros and Cons
Pros
- Established experience in currency solutions
- API integration for efficient currency trading
- Competitive exchange rates for conversions
- Live chat support available for clients
- Variety of trading instruments across asset categories
Cons
- Revoked FCA license raises regulatory concerns
- Suspicious status with CYSEC indicates potential fraud risks
- Reported withdrawal issues from users
- Limited educational resources for traders
- High potential for inactivity fees on dormant accounts
Basic Information
User Reviews
TFI Overview
TFI Markets Ltd, established in Cyprus, has been operational for 5 to 10 years, focusing on providing various currency solutions. The broker offers services such as currency payments, conversions, and risk management. Despite its experience, TFI operates under a revoked FCA license and a suspicious status with CYSEC, raising concerns regarding its regulatory legitimacy. The broker’s commitment to fund segregation and adherence to secure customer authentication guidelines aims to protect client assets, but potential traders should exercise caution given the regulatory red flags associated with this broker.
TFI specializes in facilitating efficient currency trading through its innovative API integration, allowing businesses to handle their transactions smoothly. The broker provides competitive exchange rates for currency conversions and offers tailored strategies for currency risk management. While customer support is available via live chat, prospective clients should be aware of the broker’s mixed reputation, which includes reported withdrawal issues. Overall, TFI presents a range of forex services, though its regulatory concerns necessitate careful consideration before engaging in trading activities with this broker.
Is TFI Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| FCA (Financial Conduct Authority) | United Kingdom | None (Revoked License) |
| CYSEC (Cyprus Securities and Exchange Commission) | Cyprus | None (Suspicious Status) |
Is TFI Regulated and How Are Client Funds Protected?
TFI Markets Ltd is not regulated by any recognized financial authority. The broker previously held an FCA license, which has since been revoked, and it holds a suspicious status with CYSEC. This lack of valid regulation raises significant concerns regarding the safety and legitimacy of TFI’s operations. As a result, clients may face heightened risks, including a lack of investor protection and increased potential for fraud. Furthermore, there have been reported issues related to withdrawals, further exacerbating concerns about the broker’s reliability and operational integrity.
Trading Products and Services
What trading instruments does TFI offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY | Varies |
| Commodities | Gold, Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | US, UK | Varies |
| Cryptocurrencies | BTC, ETH | Varies |
TFI Markets Ltd offers a diverse range of trading instruments that cater to various types of traders, from beginners to seasoned professionals. The platform supports multiple asset categories, including Forex, commodities, indices, stocks, and cryptocurrencies, which enhances portfolio diversification and provides flexible trading strategies. This diversity allows traders to adapt their investment approaches based on market conditions and personal preferences, meeting the needs of different trading styles.
By providing a wide selection of products, TFI empowers users to make informed trading decisions and manage their financial portfolios effectively. Whether engaging in Forex transactions or exploring commodities and cryptocurrencies, traders can find suitable options that align with their investment goals.
Account Types and Trading Conditions
What Account Types and Fees Does TFI Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and casual traders | Accessible trading environment with standard features | Suitable for small-capital practice |
| Professional Account | Experienced traders | Enhanced features, including higher leverage | Requires proof of trading experience or volume |
| Corporate Account | Corporate clients | Custom services tailored for business needs | Requires corporate documentation |
| Islamic Account | Traders requiring Sharia-compliant options | Swap-free trading environment | Available upon request |
| Demo Account | All types of traders | Practice trading without financial risk | Perfect for testing strategies |
Account Opening Process
To open an account with TFI Markets Ltd, prospective clients must follow a structured process that includes submitting personal, employment, and financial information. This involves providing identity verification documents such as an official ID and proof of address. Once the initial account is created, clients may enjoy flexibility, including the option to upgrade to a professional account later based on their trading experience or volume.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for majors |
| Forex (GBP/JPY) | 1.0 | $0 (ECN: $3.5/lot) | Competitive rates for minor pairs |
| CFDs (S&P 500) | 1.5 | $0 | Standard rates for indices |
| CFDs (Gold) | 2.0 | $0 | Standard rates for commodities |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on volatility |
Other Fees
TFI Markets may impose various fees that traders should be aware of, including deposit and withdrawal fees, which can vary based on the method used. Additionally, there may be inactivity fees for dormant accounts, platform usage fees if applicable, overnight interest charges (swap rates) for positions held overnight, and currency conversion fees for transactions involving multiple currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does TFI Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4 | Windows, macOS, iOS, Android | 2FA security, symbol lookup, multiple order types, price alerts, technical indicators | Demo accounts, API integration |
| Web Version | Windows, macOS | Encryption security, one-click trading, market search, push notifications | Demo accounts |
| Mobile App | iOS, Android | Biometric login, real-time alerts, quick order execution, economic calendar | Demo accounts |
TFI offers several trading platforms to accommodate different trader preferences and needs. The MT4 platform is well-suited for a wide range of traders due to its robust features and multi-device support, enabling effective trading strategies across various environments. The web version provides accessibility and essential tools for users who prefer trading from desktop browsers, while the mobile app facilitates trading on the go with secure logins and real-time notifications. Overall, TFI’s platforms support efficient trading operations while prioritizing user security and convenience.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 days | No platform fee | Min 50, Max 10k/day | EUR, USD |
| Credit/Debit Card | Instant | No platform fee | Min 50, Max 10k/day | EUR, USD |
| E-wallets (e.g., Skrill, Neteller) | Instant | 1.5% e-wallet charge | Min 50, Max 20k/day | EUR, USD |
Minimum Deposit
The minimum deposit requirement for TFI Markets Ltd is set at 50 units of the account’s base currency. This applies uniformly across all account types and payment methods, ensuring accessibility for a range of traders.
How to Withdraw
To withdraw funds from your TFI account, follow these steps:
- Log into your TFI account.
- Navigate to the ‘Withdrawal’ section in the account dashboard.
- Select your preferred withdrawal method.
- Enter the amount you wish to withdraw.
- Submit your withdrawal request.
- Wait for the processing time specified for your chosen method to complete.
Customer Support
TFI Customer Support Overview
Support Channels
TFI Markets Ltd provides several contact methods for customer support, including:
- Email: Clients can reach out via support@tfimarkets.com for assistance with inquiries or issues.
- Live Chat: A live chat feature is available on the TFI website, offering immediate help during support hours.
- Telephone: Customers can contact support by calling +357 22 749 800 for direct communication.
- Social Media: TFI is also present on platforms like Facebook, where clients can seek assistance and updates.
Service Availability
TFI’s customer support operates during standard business hours, with availability typically from Monday to Friday. While specific hours are not disclosed, clients can expect timely assistance during these days. Currently, the broker does not specify if multilingual support is available.
Frequently Asked Questions
TFI Markets Ltd emphasizes fund segregation and adheres to secure customer authentication guidelines to protect client assets. However, it is important to note that the broker operates under a revoked FCA license and holds a suspicious status with CYSEC, which raises significant concerns about its regulatory legitimacy.
TFI offers a diverse range of trading instruments including Forex pairs like EUR/USD and GBP/JPY, commodities such as gold and oil, major indices like S&P 500 and NASDAQ, various stocks from the US and UK, and popular cryptocurrencies including BTC and ETH.
To withdraw funds from TFI, clients must log into their account, navigate to the withdrawal section, select their preferred method, and submit their request. However, there have been reported issues related to withdrawals, which prospective clients should consider before engaging with the broker.
TFI offers several account types tailored to different trading needs, including Retail Accounts for beginners, Professional Accounts for experienced traders, Corporate Accounts for business clients, Islamic Accounts for Sharia-compliant trading, and Demo Accounts for practice without financial risk.
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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.