Is TBFX Scam or Legit Broker?

TBFX is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.

About TBFX
🗺️ Registered inNo Registration
🗺️ Type of LicenseOffshore License
🛡️ Is TBFX safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is TBFX?

TBFX is owned and operated by TBFX Limited and claims to be located in London, UK. According to the website, it has more than 14 years of experience and is one of the largest stock exchange-listed FX & CFD brokers in the world. They mention their offices in over 13 countries including the UK, Poland, Germany, France, and Turkey. TBFX as a group is also regulated by the world’s biggest supervision authorities including the Financial Conduct Authority, KNF, and CMB.

  • However, it turned TBFX is just a clone of the regulated financial institution. The license number TBFX has been using belongs to the FCA-regulated XTB Limited that is not associated with TBFX in any way.
  • A lot of companies, such as TBFX, purposely use the details of the well-regulated entities to mislead the potential clients. Such companies are called “clone firms” and should be avoided at all costs.
  • In addition, the Financial Conduct Authority has blacklisted the broker:

 

TBFX  Review Conclusion

We advise all investors and traders to avoid TBFX and other unregulated brokers. The lack of information about the broker’s regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and FP Markets. Also check InstaForex Review


TBFX Update

Recently TBFX website remains inactive and unavailable to reach, meaning the broker mutes its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case their receive trading proposals. 

No news available.

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