TigerFX
Basic Information
Pros and Cons
Pros
- Wide range of tradable instruments
- Leverage up to 1:500
- Available on MetaTrader 5 platform
- Offers forex, metals, shares, indices, futures, and commodities
Cons
- No regulatory oversight
- High-risk broker status
- Poor customer service reported
- Withdrawal challenges and complaints
- Lack of transparency in fee structures
Is TigerFX Safe and Legit?
TigerFX is a broker registered in the Marshall Islands, incorporated in 2023, with less than two years of operational experience. It offers a variety of tradable instruments including forex, metals, shares, indices, futures, and commodities, with leverage up to 1:500 and spreads starting from 1.2 pips on the MetaTrader 5 platform.
The broker operates without any regulatory oversight, which raises concerns regarding its safety and legality. Consequently, TigerFX is generally considered high-risk and less secure compared to regulated brokers.
Market reputation for TigerFX is predominantly negative, with users highlighting issues such as poor customer service, challenges with withdrawals, and a lack of transparency. Complaints about unclear fee structures and the broker’s unregulated status are prevalent, indicating a significant level of community distrust and caution among potential users.
Is TigerFX a Regulated Broker?
What Are the Regulatory Licenses Held by TigerFX?
TigerFX is a broker registered in the Marshall Islands and does not hold any mainstream regulatory licenses. It operates without regulatory oversight, which raises concerns regarding its safety and legality. Consequently, TigerFX is considered high-risk, with no regulated licenses or only offshore regulation present. The lack of regulatory oversight has led to significant community distrust and caution among potential users.
| Regulator Abbreviation | Full Name of Regulator | Regulated Company Entity | Regulatory Status | License Number |
|---|---|---|---|---|
| No Regulated Licenses | No Regulated Licenses | Tiger FX Limited | Not Applicable | Not Applicable |
Client Fund Segregation: Your Ultimate Safeguard
Capital Protection Measures
TigerFX does not hold client funds in independently regulated bank accounts, as it operates without regulatory oversight. Therefore, there are no specific rules regarding segregation of funds or participation in investor compensation funds or insurance schemes, which raises concerns about the protection of clients’ capital.
TigerFX Leverage
The maximum leverage offered by TigerFX is up to 1:500 across all account types. This leverage is significantly higher than legal limits in many jurisdictions where regulated brokers operate, emphasizing the high-risk nature of trading with an unregulated broker like TigerFX.
TigerFX Withdrawal Review
How to Contact TigerFX?
TigerFX has garnered a significant number of complaints, primarily focused on withdrawal issues, with users reporting challenges in receiving their funds. Credible sources of these complaints include various online forums and review platforms. Many users express frustration over slow response times and inadequate handling of their concerns, indicating a lack of effective customer service. Furthermore, there are repetitive complaints about withdrawal difficulties, which contribute to the broker’s negative reputation. Due to the absence of regulatory oversight, TigerFX has not faced any regulatory penalties, amplifying concerns about its legitimacy and safety in handling client funds.
Frequently Asked Questions
A1: TigerFX operates without any regulatory oversight, as it is registered in the Marshall Islands and does not hold mainstream regulatory licenses. This raises significant concerns regarding its safety and legality, categorizing it as a high-risk broker compared to regulated alternatives.
A2: TigerFX does not hold any regulatory licenses, which means it operates without any regulatory oversight. This status contributes to community distrust and caution among potential users due to the lack of protective measures typically found with regulated brokers.
A3: TigerFX does not hold client funds in independently regulated bank accounts and lacks specific rules for fund segregation or participation in investor compensation funds. This absence of protective measures raises concerns about the security of clients’ capital.
A4: Many users have reported challenges with withdrawals from TigerFX, citing slow response times and inadequate customer service. The broker’s unregulated status amplifies these concerns, as it has not faced regulatory penalties that could otherwise provide some oversight.
A5: Clients can reach TigerFX customer support via email at support@tigerfxtrading.com or by phone at +44 2381787451. However, users have reported poor customer service experiences, which may affect response times.
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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.