TP Global FX-Overview of Minimum Deposit, Spreads & Leverage

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 isn't regulated by any authorities, with a suspicious clone license.

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.

Pros & Cons

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.

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:

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.

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.

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:

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.

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)