Is TNFX Scam or Legit Broker?

No, TNFX is not a reliable choice, mostly due to the lack of proper licenses. The broker lacks top-tier licenses that ensure the financial safety and security of a trader’s investments. Instead, TNFX is only authorized and regulated by the Financial Services Authority (FSA) in Seychelles, known offshore zone. 

  • While engaging in Forex trading it is essential to understand that safety is one of the most important aspects. Neglecting its significance could result in making precarious decisions. Opting for top-tier licenses like FCA, CySEC, and ASIC is highly advisable, as they come with stringent regulations and robust oversight, effectively minimizing various forms of risk. On the contrary, offshore regulatory authorities like the Financial Services Authority, often lack to provide adequate guidelines and oversight. 
  • Read more about offshore Brokers here

About TNFX
🏢 Registered inSeychelles
🗺️ Type of LicenseOffshore
🛡️ Is TNFX safe to trade?No
🗺️ Recommended LicensesFCA in the UK 🇬🇧 and ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is TNFX?

Founded in 2019, TNFX claiims to be an ECN firm that offers access to trading various financial instruments such as currencies, stock indices, stocks, and commodities in the form of CFDs. The broker provides access to trade over 50 currency pairs, offering leverage of up to 1:400. In terms of software, they offer the market-popular MetaTrader trading platforms, which include support for Trading Central charts and AutoChartist. TNFX also offers very low spreads, starting from 0 pips. 

To learn more about the broker we conducted deeper research and revealed important facts about it to be considered:

  • The first thing while analyzing a broker, we look into its licenses and registration. In fact, TNFX is authorized and regulated by the Seychelles Financial Services Authority (FSA) under license number SD133. The registered address is CT House, Office 9A, Providence, Mahe, Seychelles. Seychelles is recognized as an offshore jurisdiction, and it lacks stringent regulations that would guarantee the safety of traders’ investments. For added safety, we consistently recommend opting for a broker that is thoroughly regulated. FCA, ASIC, and CySEC-regulated brokers give this sense of security and safe grounds to conduct profitable trades. Find out what makes a great Forex Broker
  • TNFX has some really interesting offerings and features that attract traders, such as very low spreads, high leverage opportunities, a large assortment of trading accounts, and client-oriented platforms. This led us to go through the real trader reviews and check for clients’ feedback. We revealed that most of the reviews are on the negative side, complaining of the insufficient withdrawal process, and other issues. Therefore, our recommendation is to exercise greater caution and not to be easily attracted by favorable offerings. 
  • Deposits and withdrawals are one of the most important aspects of trading. TNFX provides a variety of choices for funding accounts and withdrawing profits. However, it’s worth noting that there have been numerous reviews, particularly regarding withdrawal issues. We strongly advise traders to be aware and consider the possible risks in case of engaging with the broker.

Overall TNFX Ranking

With our decade of experience in the Forex trading industry, our research has unearthed substantial concerns regarding TNFX’s reliability and its compliance with regulatory standards. Consequently, we are unable to provide a favorable rating for TNFX.

  • TNFX 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.
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe? NoYesYes
AdvantagesNoneTrading EnvironmentTrading Platforms

TNFX Alternative Brokers

In light of safety concerns related to TNFX, we strongly recommend exploring alternative options that prioritize strict regulations and enhanced trading conditions. Below is a list of reputable brokers that provide great trading features and a secure trading environment for your consideration:

  • OANDA– Good Market Instruments 
  • Plus500– Low Spreads and Competitive Trading Conditions
  • Pepperstone– The best selection of Educational Resources

Deposits and Withdrawals

TNFX offers a variety of funding methods, including Bank transfers, Mastercard, PerfectMoney, Webmoney, Payeer, and many other options. Besides, it does not charge any fees for depositing or withdrawing funds.

  • For deposits and withdrawals, the estimated timeframe is 24 hours.
  • All withdrawals and deposits are made in US dollars. To withdraw money clients need to submit a Withdrawal form. 
  • Yet, we always recommend being very careful when it comes to withdrawals, as offshore brokers often have a track record of falling short in this regard.

Account Types

Opening a live account with TNFX is a quick and straightforward process. The broker offers multiple account types: Standard, Fix Account, VIP account, Zero Account, and Cent Account. Each of the account types has its unique features, offering clients different opportunities based on their trading expectations. Also, different account types come with different benefits, as for the Standard Account contains a 20% deposit bonus, and also a $100 birthday bonus. 

  • All the account types enable access to Automated trading
  • For Cent accounts the minimum deposit is $100, while for Zero accounts it is $ 1,000.


TNFX Review Conclusion

Based on the information we have gathered regarding TNFX, significant questions arise concerning the broker’s trustworthiness and credibility. Although it offers quite enticing features and services, the fact that Broker is registered only in Seychelles – an offshore jurisdiction, raises substantial doubts.

We urge traders to give serious consideration to selecting a broker that holds licenses from esteemed regulatory bodies such as FCAASIC, or CySEC. A multitude of regulated brokers, such as  FP MarketseToro, and Admiral Markets, excel in providing outstanding services and favorable trading conditions, all while adhering to top-tier regulations, thereby guaranteeing a secure trading environment. 

  • Overall ranking and experience for TNFX is Negative

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