WikiFX Review: Is it OK to invest in TP Global FX?

In this article

WikiFX provides inquiry services in the forex field.

WikiFX evaluates the reliability of TP Global FX based on the facts.

What is WikiFX？

To explore whether TP Global FX is a scammer or not, we evaluated this broker from different aspects, such as regulatory status, exposure, etc.

1. Evaluate the reliability of TP Global FX based on its general information and regulatory status

To understand TP Global FX better, we explore TP Global FX by analyzing two main perspectives:

A. General Info of TP Global FX

B. Regulatory Status

A. General Info of TP Global FX

TP Global FXs general info has been shown below:

(Note: Because different regions or countries have different levels of regulatory strictness, the score of the same broker might be slightly varied in other regions or countries. For details, please consult WikiFX customer service.)

General Information

Established in 2017, TP Global FX is a forex and CFD broker owned and operated by TP Global Services Limited, which is registered in St. Vincent and the Grenadines with Number 25274 BC 2019. TP Global FX says it offers more than 150 trading instruments through advanced MT4 & MT5 trading platforms, with spreads on major pairs as low as 0.1 pips.

Market Instruments

TP Global FX offers a diversified range of tradable instruments, which include Forex currency pairs, Metals, CFDs, Indices, Stocks, and more.

Minimum Deposit

TP Global FX offers investors three different types of accounts, the Standard Account (minimum deposit of $200), the Pro Account (minimum deposit of $500), and the Institutional Account (minimum deposit of $25,000). The minimum initial deposit of an acceptable $200 is in line with industry standards.

Leverage

Trading leverage differs depending on trading accounts. The Standard and Pro accounts offer a maximum leverage of up to 500:1 for forex and precious metal trading. The institutional account offers 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 at 0.1 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 spreads starting from 0.1 pips and commissions of $8 per lot.

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.

(Source: WikiFX)

B. Regulatory Status

What is a Legitimate License？

• The legitimate license is the business license issued by the financial regulatory institution of each country/region.

• Holding a license means that the broker is recognized and regulated by the regulatory authority, therefore your money is under the protection to some extent.

• Whether a forex brokerage firm holds a legitimate license or not is one of the important factors to evaluate the reliability of forex brokers.

• The content of the regulation and the difficulty of obtaining a license vary with the country and agency issuing the license.

Is TP Global FX legit？

TP GLOBAL LTD, authorized and regulated by the Financial Services Commission, Mauritius (FSC), with Regulatory License No. GB21026474

HNT GROUP LIMITED authorized and regulated by Vanuatu Financial Services Commission (VFSC), with Regulatory License No. 40409

2. Exposure related to FSDS on WikiFX

On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFXs Exposure function helps you get feedback from other traders and remind you of the risks before it starts.

As of July 29, 2022, WikiFX has received 1 complaint against this broker.

One trader from Philippines complained that he lost all of his money by investing in this broker.

3.WikiFX Alerts

4. Conclusion:

TP Global FX is generally a solid broker. Although it has a decent WikiFX score, we still advise you to do more research before making a decision. WikiFX contains details of more than 33,000 global forex brokers, which gives you a huge advantage while seeking the best forex brokers. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP for free through this link below (https://www.wikifx.com/en/download.html). Running well in both the Android system and the IOS system, the WikiFX APP offers you the easiest and most convenient way to seek the brokers you are curious about.