TECFININE-Some Important Points about the Broker

General Information& Regulation

Tecfinine is the trading name of TEC International (Cyprus) Ltd, a registered Cyprus Investment Firm (CIF) licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 382/20 in accordance with the Markets in Financial Instruments Directive (MiFID II). Tecfinine was founded in 2018, headquartered in Limassol, Crypus.

Market Instruments

Tradable assets available on the Tecfinine platform includes currency pair, commodities, indices, metals.

Minimum Deposit

There is only one type of real account, so trading conditions are equal for all categories of traders, and the minimum deposit is USD 2,000. The minimum deposit set by this broker to open an account is super high, as most brokers need requires an amount of $100 or $200.

Tecfinine Leverage

As required by ESMA, the default leverage for retail clients is 1:30 for major currency pairs, 1:20 for non-major currency pairs, Gold, and major indices and 1:10 for commodities other than Gold and non-major indices. The leverage can be up to 1:100 for professional clients.

Spreads & Commissions

Spreads are variable and the one for the EUR/USD pair has a minimum value of 0.8 pips, while the average value is 1.2 pips. The spread for the GBP/USD starts at 1 pip and has the average value of 1.3 pips, average spread for the Gold USD0.54, for the Silver USD0.052. All instruments can be traded without commission.

Tecfinine Trading Platform

Tecfinine provides its services through the well-known cTrader platform. The terminal offers fast asynchronous execution of all types of orders, allowing multiple orders to be placed at once. One of the main features is that cTrader displays the market depth – Level II quotes. This means that traders will see the full range of executable prices directly from the liquidity providers. Apart from the cTrader platform, CQC QTrader is also available.

Deposit & Withdrawal

Deposits can be made by bank transfer, credit/debit cards Skrill and Neteller. Please note that in the case of bank transfers, if you transfer less than the required minimum of 100, your trading account will be credited and deactivated for trading, so you can deposit the difference and start trading or request a refund. Withdrawals can be made in the same ways as deposits – bank transfer, credit/debit cards, Neteller and Skrill. Withdrawals are processed in one business day. Then, it depends on the method of withdrawal how soon the funds will be in the customers account: up to e of 5 working days by bank wire, maximum 7 working days by credit card and up to 10 minutes by Skrill or Neteller. The company does not charge any fees, but banks usually do.

Customer Support

The Tecfinine customer support team can be available through email, telephone, and live chat. There is also a FAQ section for traders to get some basic answers.