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Is TP Global FX Scam or Legit Broker?

TP Global FX is not a safe broker for investments. The broker has no license from a world top-tier financial regulatory authority. Instead, based on the information provided on the broker’s website, TP Global FX is registered in two offshore zones:

• TP Global FX is registered in Saint Vincent and the Grenadines with registration number 25274 BC 2019 (registered office: Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown Saint Vincent and the Grenadines). However, brokers registered in SVG FSA are not reliable, as the license set-up costs are very low, and do not necessarily request any business planning, and other major requirements. 
• Besides, the broker also mentions its Vanuatu license with the registration number 40409 (with the address Law Partners House, Kumul Highway, PortVila, Vanuatu). Anyway, Vanuatu is also an offshore zone notorious for scam brokers. To be more informed read why to avoid Vanuatu brokers. 

What is TP Global FX?

TP Global FX is a forex broker that offers online trading services for various financial instruments such as currency pairs, commodities, and indices. The company website states that they offer competitive spreads, fast execution, and a range of trading platforms, including a proprietary platform TPG Trader, also,  MetaTrader 4, and MetaTrader 5.

• Besides, the broker offers educational resources and trading tools to help traders improve their skills and make informed trading decisions. One of the advantages of TP Global FX is its Trading Central. Through Trading Central traders have access to a range of essential tools, that help to make informed market decisions. Also, the broker offers Copy Trading.
• TP Global FX offers three main account types: Standard, Pro, and Institutional. TP Global FX also offers Islamic accounts.
• In fact, TP Global FX offerings are quite diverse and favorable. Yet, the broker does not hold a serious license from one of the world's top regulatory bodies, such as ASIC, FCA, or CySEC. This is a big red flag as it goes without saying, that safety comes above anything in trading.  
• Also, we cannot ignore numerous complaints that traders share on different social platforms about the broker. One of the major complaints seems to be about complications in the withdrawal process. 

Overall TP Global FX Ranking

Taking into account our revelations on the safety and regulations issues with TP Global FX, we do not rank positively TP Global FX, based on our Expert Opinion with over 10 Years of experience in Forex Trading due to its lack of regulation and numerous negative reviews from traders.

• TP Global FX Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

TP Global FX Alternative Brokers

Taking into account our revelations of TP Global FX safety and regulations issues, here are much better Alternatives to TP Global FX with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below:   

• AvaTrade – Good Instruments and Copy Trading
• Pepperstone – Low Spreads and Competitive Trading Conditions
• XM – Wide Range of Trading Opportunities

Deposit & Withdrawal

The broker states about its easy and effortless deposits and withdrawals, however, numerous complaints from traders about complicated withdrawals hint about the opposite. On its website, the broker offers multiple options for funding their accounts, such as bank transfer, Bitcoin, or Tether.

• The minimum deposit for the Standard account is $50. For Pro accounts, it is $500, and for Institutional accounts, the deposit starts from $25,000.

• With TPG Global FX bank transfers require a minimum withdrawal of $1,000. Payments under that amount include an additional charge. 

TPG Global FX Review Conclusion

Being an unregulated or an offshore broker does not mean that the broker is a scam. However, many brokers with offshore registration are not trustworthy, and signing with them might result in risking your investments. Thus, we do not recommend trading with TPG Global for this very reason. Instead, traders should pick a well-regulated broker with UK’s FCA or Australian ASIC registration. We advise signing in with reliable brokers such as AvaTrade, Interactive Brokers, and HFM.

• Overall ranking and experience for TPG Global FX is Negative

Is Gemliteassetsltd Scam or Legit Broker?

It is not safe to trade with Gemliteassetsltd. On its website the broker praises its reliability, claiming that it conducts absolutely legal activities. However, as proof, the broker has nothing to display.

• Gemliteassetsltd is not a regulated broker and it does not hold any license – neither from a top-tier authority nor even an offshore one. This is a direct red flag and means that traders should stay away from investing with the company, no matter how attractive their offerings are.

What is Gemliteassetsltd?

Gemliteassetsltd positions itself as a leading financial investment platform providing access to over 4,000 funds and assets, from investments banking, stock Broking, fund escrow services, forex, Gold and Cryptocurrencies to ETFs and Assets, etc.

Gemliteassetsltd was established in 2001, incorporated in 2020, and started offering Cryptocurrencies in 2020.

• On its website, the broker’s address is Stirk House, Cross Lanes, Tollerton, England, YO61 1LP. This means the company is located in England, as there is no other information that states otherwise. However, all the companies located in England and offering financial services should hold a UK FCA license. In this case, it is evident that the broker is not FCA-regulated, as there is no mention of the license.
• Another important point is, that the broker mentions its FSO license No. CHE-399.474.466, yet, by further investigation we found that under the same license number, there is another financial company – BinuxFx (.binuxfx.com) and by the looks of it this is just the same company, with the same website interface, the same offerings and conditions. BinuxFX is also located in England, only the provided address is different (1 Great George St, London SW1P 3AA @51.501128,-0.129027, UK).
• Another issue with Gemliteassetsltd is the negative reviews. Clients complain about the services the broker provides. Especially, clients claim to face withdrawal problems, never being able to withdraw their profits or investments. Many reviews state that the broker is a total scam that only tries to get its hands into the traders’ funds.
• Besides, another thing that seems fishy and is a good ground for doubts, is that Gemliteassetsltd constantly tries to attract new customers, by contacting them via different social platforms and offering their services. Experience in the market shows that this is the way scam brokers operate. They find people interested in investments in different online platforms, make very attractive proposals to them, and later just vanish with the traders’ funds.

Overall Gemliteassetsltd Ranking

Because of the revelations in regard to the safety of Gemliteassetsltd, we do not rank positively Gemliteassetsltd, based on our Expert Opinion with over 10 Years of experience in Forex Trading due to its lack of regulation and numerous negative reviews from traders.

• Gemliteassetsltd Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

Gemliteassetsltd Alternative Brokers

Taking into account the issues we revealed about the Gemliteassetsltd safety and regulations, here are much better Alternatives to Gemliteassetsltd with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• Capital Index – Good Trading Conditions
• ThinkMarkets – Competitive Spreads
• XM – Wide Range of Trading Opportunities

Deposits and Withdrawals

Gemliteassetsltd offers different funding methods to make the process for its clients easier.

• The deposits are reflected on the account immediately once it is confirmed on the blockchain network. Traders can make as many deposits as they want, there is no limitation.
• When the withdrawal request is received, it is processed immediately and sent to the provided wallet address.
  For cryptocurrency investments, the minimum deposit starts from $100 for the Beginner’s plan. The Business plan deposits start from $10,000, and for the Executive plan, the deposit is $50,000.

Gemliteassetsltd Review Conclusion

It is not safe to trade with unregulated or offshore brokers, so we strongly recommend staying away from them. Traders should invest only with brokers holding licenses from authorities alike UK’s FCA, Australian ASIC, or other similar regulators, that provide compensation and are strictly supervised. We recommend signing in with well-regulated brokers, such as eToro, BDSwiss, and HFM.

• Overall ranking and experience for Gemliteassetsltd is Negative

Is GemForex Scam or Legit Broker?

GemForex is not a safe broker to invest in. GemForex is a part of GemForex Limited which is regulated by the Seychelles Financial Services Authority (FSA), with the registration number 076092. The broker has been present in the market for more than a decade and offers good trading conditions, however, it does not hold any serious license. This means that trading with such a broker might be risky and jeopardize your investments.

• With the Seychelles Financial Services Authority, it is possible to start a company with minimum investments and requirements, without any obligatory business planning, management interview, or company background checking. This however means that the registered company does not follow strict guidelines or rules imposed by the authority as other top-tier regulatory bodies such as FCA or CySEC do.

What is GemForex?

GemForex is a Japanese online forex and CFD broker founded back in 2010. The broker is registered with the Seychelles Financial Services Authority (FSA). The registration address of the company is Vista Corporate Services Center, Suite 23, first floor, Eden Plaza, Eden Island, Mahe, Republic of Seychelles.

• When the company started in 2010, it was originally named GemTrade, and only later in 2014 it was renamed to GemForex, which is a brand name of the Gem Group Holdings LTD.
• GemForex offers high-quality services to beginner traders worldwide. It offers the industry-popular MetaTrader 4 and MetaTrader 5 platforms, and a selection of major instruments, including Forex (33 currency pairs), Energy CFDs, Index CFDs, etc.
• All in all, GemForex positions itself as a favorable broker with a long history and a number of awards. Yet, the fact that the broker does not hold a serious license is a big disadvantage in forex trading. It is founded by Japanese professional traders and offers services to the Japan residents. Still, it is not authorized by the Japan FSA, the body that oversees financial activities in the country.
• In forex trading, one of the first things that traders need to consider is the safety and security the broker can provide. In case of any problems, well-regulated brokers can offer compensation schemes and negative balance protection, whereas, in the case of offshore brokers none of these is applicable.
• Top-tier authorities such as ASIC, CySEC, or FCA provide compensation schemes and negative balance protection to the traders, as well as segregated accounts. On its website, the broker mentions that it provides account segregation for its clients, which is more typical for regulated brokers. If so, this is a huge advantage and a certain level of protection.
• GemForex is available in many countries worldwide, however, there are still regions where the broker is unavailable for trades: United States, Afghanistan, Belarus, Myanmar, Central African Republic, Congo, Cuba, Egypt, Guinea, Iraq, Iran, Libya, Mauritius, Pakistan, Somalia, Sudan, Syria, Venezuela, Yemen, Zimbabwe.

Overall GemForex Ranking

Taking into consideration our finds and revelations on the safety of GemForex, we do not rank positively GemForex, based on our Expert Opinion with over 10 Years of experience in Forex Trading due to its lack of regulation and numerous negative reviews from traders.

• GemForex Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

GemForex Alternative Brokers

Based on our revelations in regard to GemForex safety and regulations issues, here are much better Alternatives to GemForex with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• AvaTrade – Good Instruments and CopyTrading
• Pepperstone – Low Spreads and Competitive Trading Conditions
• XM – Wide Range of Trading Opportunities

Deposit & Withdrawal

The broker enables its client to fund their accounts through multiple methods, including Credit/Debit cards, wire transfers, Payoneer, UnionPay, Perfect Money, PayPal, Skrill, Neteller, and some other options.

• The minimum deposit for GemForex All-in-one account is $50. For the Elite and Raw account types the minimum deposit is $3,000.
• For the first withdrawal during the month, there are no applicable charges. Yet, for every next withdrawal, there is a 2% charge.
• It typically takes 3-5 business days for the withdrawals to be completed.

GemForex Review Conclusion

Our advice is to avoid non-regulated or offshore brokers as it is not safe to trade with them. GemForex offers good trading conditions and seems to be favorable, especially for beginner traders. However, the fact that it does not hold any serious license is enough reason to stay away from the broker.

Traders should invest only with brokers holding licenses from authorities alike UK’s FCA, Australian ASIC, or other similar regulators, that provide compensation and are strictly supervised. We recommend signing in with well-regulated brokers, such as FP Markets, BDSwiss, and HFM.

• Overall ranking and experience for GemForex is Negative