Is Tallinex Scam or Legit Broker?

It is NOT SAFE to trade with Tallinex. Tallinex Limited is registered and located in St. Vincent and the Grenadines while originating in Estonia. 

  • Being an offshore zone St. Vincent & the Grenadines does not define strict obligations to its financial registered firms, which may be a risky investment in case the firm is only based there. 

About Tallinex
🗺️ Registered inSt. Vincent and the Grenadines
🗺️ Type of LicenseOffshore License
🛡️ Is Tallinex safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is Tallinex?

Tallinex is a registered trademark or service mark of Tallinex Limited registered and located in St. Vincent and the Grenadines while originating in Estonia. The broker mentions that all Tallinex trades are transmitted swiftly and reliably to the world's largest banks through a PrimeXM FX bridge to Integral's FX Grid system, which is optimized for Forex trading. That the clients can benefit from better ECN/STP technology and confidently trade the Forex markets through the Tallinex platform. However, the SVG governmental structure does not perform the strictest standards in regard to financial service firms. 

  • In addition to that, recently the company was fined by the US reputable authority CFTC and received warning from the EU regulators. The authorities found that Tallinex operated as an unregistered foreign exchange dealer by soliciting orders for leveraged forex transactions from retail U.S. and EU customers, and offered to be the counterparty to such contracts with its customers. The Order also found that Tallinex defrauded these customers by knowingly or recklessly misrepresenting or omitting material facts.

“Tallinex Ltd. Ordered to Pay nearly $10.3 Million in Restitution to Defrauded Customers and Defendants Ordered to Pay Civil Monetary Penalties Totaling More than $760,000”

CFTC, USA. July, 2018.

Tallinex Review

Tallinex Review Conclusion

In conclusion, according to the finding we recommend avoiding trading with Tallinex and keeping the safe trek of investment options with well-regulated and authorized companies that are constantly checked. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and HFM.

Tallinex Update

Based on our research, the Tallinex website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case of any proposals. 

No news available.

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