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
About TP Global FX
🗺️ Registered inSaint Vincent and the Grenadines, Vanuatu
🗺️ Type of LicenseOffshore
🛡️ Is TP Global FX safe to trade?No
🗺️ Recommended LicensesFCA in the UK 🇬🇧 and ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

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 ASICFCA, 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 FXwe 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.
RankingTP Global FXGo MarketsXM
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe? NoYesYes
AdvantagesNoneTrading EnvironmentTrading Platforms

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 AvaTradeInteractive Brokers, and HFM.

  • Overall ranking and experience for TPG Global FX is Negative

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