Score
TP Global FX
Mauritius|5-10 years| http://tpglobalfx.com/
Website
Rating Index
Influence
Influence
C
Influence index NO.1
India 4.29Surpassed 15.90% brokers
Contact
Licenses
Single Core
1G
40G
Disclosure
Danger
Contact number
+44 7441 416320
Other ways of contact
Broker Information
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TP GLOBAL FX LTD
TP Global FX
Mauritius
Pyramid scheme complaint
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- This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
- The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.
- The number of the complaints received by WikiFX have reached 21 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
- The VanuatuVFSC regulation (license number: 40409) claimed by this broker is suspected to be clone. Please be aware of the risk!
- The Vanuatu VFSC regulation with license number: 40409 is an offshore regulation. Please be aware of the risk!
WikiFX Verification
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | $500 |
| Minimum Spread | From 0.2 |
| Products | -- |
| Currency | -- |
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| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | $25000 |
| Minimum Spread | From 0.2 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | $50 |
| Minimum Spread | From 1.2 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | -- |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
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TP Global FX · Company Summary
| TP Global FX Review Summary in 10 Points | |
| Founded | 2017 |
| Registered Country/Region | Mauritius |
| Regulation | No regulation |
| Market Instruments | Forex currency pairs, Metals, CFDs, Indices, Stocks, etc. |
| Demo Account | N/A |
| Leverage | 1:500 |
| EUR/USD Spread | from 0.1 pips |
| Trading Platforms | MT4, MT5 |
| Minimum deposit | $50 |
| Customer Support | 24/5 telephone, email |
Note: TP Global FXs official site is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is TP Global FX？
Established in 2017, TP Global FX is a forex and CFD broker registered in Mauritius. TP Global FX currently doesnt hold any valid regulatory licenses. Their National Futures Association (NFA) license (No. 0533098) in the United States is unauthorized and Vanuatu Financial Services Commission (VFSC) license (No. 40409) is a suspicious clone.
TP Global FX has been verified to be illegal and all of its licenses have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
Pros & Cons
| Pros | Cons |
| • Competitive trading conditions | • Verified scam broker/ponzi scheme/illegal |
| • MT4 & MT5 trading platforms | • Many complaints from users about withdrawals |
| • Low minimum deposit requirement | • Website is currently unavailable |
| • Range of trading instruments | • Lack of regulation and oversight |
| • Multiple account options and types | • Poor customer service and support |
| • No commission on some account types and markets | • Lack of transparency and information |
| • No negative balance protection for retail clients | |
| • Limited payment options for deposits and withdrawals |
Please note that due to the verified scam nature of TP Global FX, it is not recommended to trade with this broker.
TP Global FX Alternative Brokers
There are many alternative brokers to TP Global FX depending on the specific needs and preferences of the trader. Some popular options include:
FXTM - a well-regulated broker with competitive spreads and a wide range of trading instruments.
AvaTrade - known for its user-friendly platforms and excellent customer service.
IG - a reputable broker with a long-standing history, offering a comprehensive range of trading instruments and platforms.
In contrast, FXTM, AvaTrade, and IG have established reputations, offer competitive trading conditions and a wide range of trading instruments, and have reliable customer support.
Is TP Global FX Safe or Scam？
Based on the evidence and reports from customers, TP Global FX appears to be a scam and should be avoided. There are numerous complaints about the broker, including allegations of fraudulent activities, inability to withdraw funds, and the company's website being unavailable. It is important to always conduct thorough research before choosing a broker to ensure that they are legitimate and regulated.
Market Instruments
TP Global FX offers a diversified range of tradable instruments, which include Forex currency pairs, Metals, CFDs, Indices, Stocks, and more.
Accounts
TP Global FX offers investors three different types of accounts, the Standard Account (minimum deposit of $50), the Pro Account (minimum deposit of $500), and the Institutional Account (minimum deposit of $25,000). The minimum initial deposit of acceptable $50 is lower than the industry standard ($100). As TP Global FX is a scam broker and is no longer operating, it is not recommended to open any trading accounts with them.
Leverage
Trading leverage differs depending on trading accounts. The Standard and Pro accounts offer the maximum leverage of up to 1:500 for forex and precious metal trading. The institutional account offers the maximum leverage of up to 1:200. Since trading leverage can magnify gains as well as losses, traders should take care when using it.
Spreads & Commissions
Trading costs (spreads & commissions) are significantly affected by what trading accounts you are holding. The minimum spread for Standard accounts starts from 1.2 pips, and no commission is charged for trading. The minimum spread for Pro accounts starts from 0.2 pips, with a commission of $15 per lot charged. Institutional accounts have spread starting from 0.1 pips and commissions of $8 per lot.
Below is a comparison table about spreads and commissions charged by different brokers:
| Broker | EUR/USD Spread | Commission |
| TP Global FX | From 1.2 pips | $0 |
| FXTM | From 0.1 pips | $2/lot |
| AvaTrade | From 0.9 pips | $0 |
| IG | From 0.6 pips | $0 |
Note that the information varies based on account types and market conditions. It's always important to check the most up-to-date information on each broker's website before making a decision.
Trading Platforms
TP Global FX offers traders market-leading and highly acclaimed MT4 & MT5 accounts. MT4 is the industry's leading forex trading platform with a user-friendly interface, powerful charting tools, and data analysis tools that help traders develop their trading strategies and make trading a comfortable experience. MT5 is an upgraded version of MT4, and users can choose flexibly according to their actual needs.
See the trading platform comparison table below:
| Broker | Trading Platform |
| TP Global FX | MetaTrader4, MetaTrader5 |
| FXTM | MetaTrader4, MetaTrader5, FXTM Trader |
| AvaTrade | AvaTradeGO, MetaTrader4, WebTrader |
| IG | IG Trading Platform, MetaTrader4 |
Note: Each broker may offer additional trading platforms depending on the region and account type. The information provided on the table is based on the standard accounts offered globally.
Deposits & Withdrawals
Traders can deposit and withdraw funds to their TP Global FX accounts via Bitcoin, Wire Transfer, and USDT. Wire transfers require a minimum deposit of $1000, otherwise, a fee will be incurred.
TP Global FX minimum deposit vs other brokers
| TP Global FX | Most other | |
| Minimum Deposit | $50 | $100 |
Fees
As TP Global FX is an unregulated and illegal broker, it is not recommended to open an account with them. It is important to note that unregulated brokers may charge hidden fees and commissions, and there is no protection for clients in case of fraudulent activity. It is recommended to choose a reputable and regulated broker with transparent fee structures to ensure the safety of your funds.
See the fee comparison table below:
| Broker | Deposit Fee | Withdrawal Fee | Inactivity Fee |
| TP Global FX | No fees | No fees | $10/month |
| FXTM | No fees | No fees | $5/month |
| AvaTrade | No fees | $3.5 + 0.5% | $50/quarter |
| IG | No fees | No fees | $12/month |
User Exposure on WikiFX
On our website, you can see that some users have reported scams and unable to withdraw. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section. We would appreciate it and our team of experts will do everything possible to solve the problem for you.
Customer Service
TP Global FX provides clients with a client support team who are available 24/5 and can be reached via telephone (+44 7441 416320), email (support@tpglobalfx.com), and social media such as Twitter, Facebook, Instagram, YouTube and LinkedIn.
| Pros | Cons |
| • Multiple communication channels available | • No 24/7 customer support |
| • No personal account manager for lower-tier account holders | |
| • Slow response times to queries and issues |
Note that the above information is subject to change and may vary based on individual experiences.
Conclusion
Based on the verified reports of TP Global FX being a scam broker, it is strongly advised to avoid trading with them. While they may offer competitive trading conditions and a low minimum deposit requirement, the risk of being unable to withdraw funds or falling victim to fraudulent practices far outweighs any potential benefits. It is important to always do thorough research before choosing a broker to trade with, and to only select reputable and regulated brokers.
Frequently Asked Questions (FAQs)
| Q 1: | Is TP Global FX regulated？ |
| A 1: | No. It has been verified that this broker currently has no valid regulations. |
| Q 2: | Does TP Global FX offer the industry-standard MT4 & MT5？ |
| A 2: | Yes. Both MT4 and MT5 are available at TP Global FX。 |
| Q 3: | What is the minimum deposit for TP Global FX？ |
| A 3: | The minimum initial deposit to open an account is $50. |
| Q 4: | Is TP Global FX a good broker for beginners？ |
| A 4: | No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website and too many negative reviews. |
News
NewsED Arrests Key Player Viraj Patil in Illegal Forex Scam
ED arrests Viraj Patil in a high-profile illegal forex trading case, marking a key step in combating money laundering and financial fraud.
WikiFXExposure The Indian ED seizes Rs 242 crore of assets from TP Global FX for illegal forex trading.
The Directorate of Enforcement (ED) of India has launched a significant crackdown on illegal forex trading activities in Ahmedabad, targeting TP Global FX and its associates.
WikiFXExposure“Since nine months, I’m unable to withdraw” Victim stated
Scams are the biggest problem in the forex industry. You can only save yourself by being alert. This is the only possible way to save your hard-earned money. If you are not careful, you can be a victim of forex scams.
WikiFXNewsWikiFX Review: TP Global FX, things to know before investing
TP Global FX has been considered one of the leading and most trusted forex brokers of 2021. This article is to show you a comprehensive review of this broker based on the data, regulatory status, and so on.
WikiFXReview 45
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