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The WikiFX Score of this broker is reduced because of too many complaints!

TGFXprime

United Kingdom|1-2 years|
Suspicious Regulatory License|MT4/5 White Label|Chinese market only|Suspicious Overrun|High potential risk|

https://tgfxprime.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
TGKKLimited-Demo MT5
Server Location Hong Kong

Contact

Info@tgfxprime.com
https://tgfxprime.com/
Crown St, Carlisle CA2 5AB, United Kingdom
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Broker Information

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Company Name

TGFX Prime Limited

Company Abbreviation

TGFXprime

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 3
Previous Detection : 2024-02-28
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The United StatesNFA regulation (license number: 0551600) claimed by this broker is suspected to be clone. Please be aware of the risk!

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TGFXprime · Company Summary

Aspect Information
Company Name TGFXPrime
Registered Country Not specified
Founded Year 2010
Regulation No valid regulation
Minimum Deposit Not specified
Maximum Leverage Unlimited leverage (as mentioned in the information)
Spreads Not specified
Trading Platforms MetaTrader5 (MT5)
Tradable Assets Forex, metals, energies, cryptocurrencies, stocks, and indices
Demo Account Not specified
Customer Support Not specified
Deposit & Withdrawal Quick deposits and withdrawals 24/7 (as mentioned in the information)
Educational Resources Not specified

Overview of TGFXprime

TGFXPrime was established in 2010, after nearly 12 years of operation TGFXPrime has grown and become a strong financial investment company leading the market. With more than 5 million customers from 120 countries around the world, 2,700,000,000 trading orders are executed without re-quotes or order rejections. TGFXPrime offers a wide range of trading products from forex, metals, energies, cryptocurrencies, to stocks and indices. The platform supports investors to trade on the MT5 platform: Offers unlimited leverage, competitive spreads, quick deposits and withdrawals 24/7 and has many account types for traders to choose from.

basic-info

Is TGFXprime legit or a scam?

TGFXprime is a broker that lacks valid regulation. It is important to note that operating without proper regulation poses risks to investors and traders. Regulation plays a crucial role in ensuring the financial integrity and customer protection within the brokerage industry.

Additionally, the claim of being regulated by the United States National Futures Association (NFA) with license number 0551600 is suspected to be a clone or fraudulent. This means that the broker may be falsely representing itself as regulated by the NFA, potentially deceiving customers and increasing the risk associated with their services.

It is highly recommended to exercise caution and conduct thorough research before engaging with any financial institution or broker. Valid regulation from reputable authorities provides a level of oversight and accountability that helps protect the interests of investors.

Pros and Cons

TGFXprime has several advantages that make it appealing to traders. They offer a wide range of trading products, including forex, metals, energies, cryptocurrencies, stocks, and indices. This diversity provides traders with various investment opportunities and the ability to diversify their portfolios. Moreover, with a large customer base of over 5 million clients from 120 countries, TGFXprime has gained a level of trust and popularity in the market. They also highlight competitive spreads, which can be advantageous for traders looking for cost-effective trading conditions. Additionally, TGFXprime supports trading on the MetaTrader5 (MT5) platform, a well-known and feature-rich platform that offers advanced charting tools and a user-friendly interface. The availability of quick deposits and withdrawals 24/7 further enhances convenience for traders.

However, there are some concerns associated with TGFXprime. One significant drawback is the lack of valid regulation. Operating without proper regulation exposes investors and traders to potential risks, as it reduces oversight and accountability. Furthermore, there is suspicion surrounding their claim of being regulated by the United States National Futures Association (NFA) with license number 0551600, which raises doubts about their credibility. The lack of information about account types and the absence of a demo account deprive traders of crucial details and the opportunity to test the trading conditions. Additionally, there is no specific mention of customer support, leaving uncertainty about the level of assistance available. Lastly, the absence of specified educational resources restricts the availability of learning materials and support for traders looking to enhance their knowledge and skills in the financial markets.

pros
Pros Cons
Wide range of trading products available Lacks valid regulation
Large customer base Suspected false claim of NFA regulation
Competitive spreads Lack of information on account types
Supports trading on MetaTrader 5 platform No demo account mentioned
Quick deposits and withdrawals 24/7 Lack of specific customer support information

Market Instruments

TGFXprime proudly offers a wide array of tradable financial instruments on its platform, providing clients with diverse investment opportunities. Traders can access a comprehensive selection of assets, including Foreign Exchange (Forex) pairs, Indices, Stocks, Commodities, and more. This extensive range allows traders to explore various markets and diversify their portfolios according to their investment preferences and strategies.

Trading products include forex currency pairs, indices, commodities, shares, and futures. FCF Markets does not specify what it is offering. Some of the common products offered by other traders, which can serve as a reference, include:

1. Forex Currency Pairs: Traders can take advantage of the dynamic forex market to speculate on currency exchange rate movements and potentially profit from currency fluctuations.

2. Indices: Traders can trade on the price movements of these indices, allowing them to diversify their investments and take positions on broader market trends.

3. Commodities: commodities include precious metals like gold and silver, energy resources like oil and natural gas, agricultural products, and more. Traders can benefit from fluctuations in commodity prices and potentially capitalize on market trends.

4. Shares: This enables traders to participate in the equity markets and take positions based on their analysis of specific companies' performance and market conditions.

5. Futures: Trading futures can offer opportunities for hedging, speculation, or risk management.

Account Types

It did not say what kind of accounts were offered. Other traders, such as global trading247, are much better, which provides 4 account types, including Mini, Standard, Executive, and VIP Accounts with different minimum deposits, catering to diverse needs of various traders. RUI WIN does not offer a demo account so we can not comment on their trading conditions first hand.

It did not say what kind of accounts were offered. Other traders, such as AMarkets, are much better, which offer a total of 4 account types, including crypto, fixed, standard, and ECN, with an Islamic account option for traders who adhere to Islamic rules on trading, catering to diverse needs of various traders.

How to Open an Account?

To open an account with this broker, it is generally advisable to follow these steps:

Research and Due Diligence: Thoroughly research the broker, including their reputation, regulatory status, and client reviews. Ensure they are licensed and regulated by a recognized financial authority.

Visit the Broker's Website: Go to the official website of TGFXprime, if available.

Account Registration: Look for a “Sign Up” or “Open an Account” button on their website. Click on it to initiate the registration process.

Provide Personal Information: Fill out the required information accurately, which usually includes your name, address, email, phone number, and sometimes additional identification documents.

Agree to Terms and Conditions: Read and understand the broker's terms and conditions, including any legal agreements or disclosures. Ensure that you agree to comply with their rules and regulations.

Fund Your Account: Once your account is approved and activated, you will typically be required to deposit funds into your trading account. Follow the broker's instructions for depositing funds, which may involve bank transfers, credit/debit cards, or other payment methods.

Verify Your Identity: Some regulated brokers may require additional identity verification, such as submitting copies of identification documents (passport, driver's license) or proof of address (utility bills, bank statements).

Familiarize Yourself with the Trading Platform: Once your account is funded and verified, familiarize yourself with the broker's trading platform, tools, and features. This will help you make informed trading decisions.

Leverage

Leverage is a financial tool that allows traders to magnify their trading positions using borrowed funds provided by the broker. The specific leverage ratios offered by brokers can vary and are often determined by regulatory requirements in the jurisdiction where the broker operates.

It's important to note that trading with leverage involves increased risk. While leverage can amplify potential profits, it can also magnify losses. It's crucial to have a solid understanding of leverage, risk management strategies, and the specific terms and conditions associated with trading on margin before engaging in leveraged trading activities.

leverage

Spreads &Commissions

The spreads and commissions can vary depending on the broker, the type of trading account, and the specific financial instruments being traded. Different brokers may have different pricing structures and fee models.

To obtain accurate information about the spreads and commissions charged by TGFXprime, I recommend visiting their official website or contacting their customer support directly. They should be able to provide you with detailed information about their pricing, including spreads and commissions, for the various financial instruments and account types they offer.

When considering spreads and commissions, it's important to evaluate them in conjunction with other factors such as the broker's regulation, trading platform, customer support, and overall trading conditions. This comprehensive assessment will help you determine the most suitable broker for your trading needs.

Trading Platform

TGFXprime offers popular trading platforms such as MetaTrader4 (MT4) or MetaTrader5 (MT5), which are widely recognized and utilized in the industry. These platforms provide a user-friendly interface, advanced charting capabilities, a wide range of technical indicators, and the ability to execute trades across multiple financial instruments.

To obtain accurate information about the trading platform offered by TGFXprime, you can visit their official website or contacting their customer support directly. They should be able to provide you with specific details about their trading platform, including any unique features, compatibility with different devices, and availability of mobile or web-based versions.

When evaluating a trading platform, it's important to consider factors such as its reliability, ease of use, speed of execution, customization options, and availability of additional tools and resources. It's also beneficial to explore demo accounts or trial versions of the platform, if available, to get a hands-on experience and determine if it meets your trading requirements.

Conclusion

In conclusion, TGFXPrime offers a wide range of trading products, a large customer base, competitive spreads, and supports trading on the MetaTrader 5 platform, providing traders with diverse investment opportunities and convenience. However, the lack of valid regulation, suspected false claim of NFA regulation, limited information on account types, absence of a demo account, uncertainty regarding customer support, and the lack of specified educational resources are notable disadvantages that raise concerns about transparency, credibility, and the overall trading experience. Traders should exercise caution and conduct thorough research before engaging with TGFXPrime or any brokerage to ensure the safety of their investments.

FAQs

Q: Is TGFXPrime regulated?

A: TGFXPrime is currently not regulated by any recognized financial authority, which poses potential risks to traders and investors.

Q: What trading products can I access on TGFXPrime's platform?

A: TGFXPrime offers a diverse range of trading products, including forex currency pairs, commodities such as gold and oil, stock indices, cryptocurrencies, and shares in various companies.

Q: What is the minimum deposit requirement for opening an account with TGFXPrime?

A: The minimum deposit amount required to open an account with TGFXPrime is not specified.

Q: Which trading platform does TGFXPrime support?

A: TGFXPrime supports the MT4/MT5 platform.

Q: Are there different account types available on TGFXPrime?

A: TGFXPrime offers various account types to cater to different trader preferences.

Q: Does TGFXPrime provide a demo account?

A: TGFXPrime's website does not mention the availability of a demo account.

User Reviews

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laterange
more than one year
The lack of a demo account limits the opportunity for traders to test the platform and its conditions. Additionally, the absence of specific details about customer support and educational resources adds to the uncertainty. I would advise caution and thorough research before considering TGFXPrime for trading.
2023-12-11 17:46
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0
0
Yokilala
more than one year
The leverage of 1:100, while potentially beneficial, comes with higher risks that traders need to be aware of. I found the educational resources to be limited and somewhat unclear, making it challenging for beginners.
2023-12-08 09:54
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0
0
buff
more than one year
While TGFXPrime claims to have been operating since 2010 and boasts a large customer base, the lack of valid regulation is a significant concern. The suspicion surrounding their claim of being regulated by the United States National Futures Association (NFA) raises doubts about the broker's credibility. The absence of information on minimum deposits, maximum leverage, and spreads is a drawback, as traders need this information for informed decision-making.
2023-12-08 09:50
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0
0
FX1506886077
more than one year
I must express my concern about one significant issue – TGFXPrime lacks valid regulation. Trading with an unregulated broker like this can be a risky move, as it reduces oversight and accountability. And what's even more worrying is that their claim of being regulated by the United States National Futures Association (NFA) with license number 0551600 seems to be a clone or even fraudulent. This could potentially mislead customers and put their investments at risk. I would strongly advise fellow traders to tread carefully and do their thorough research before trusting their money with TGFXPrime or any unregulated broker. It's crucial to prioritize the safety and security of our hard-earned money in the financial markets.
2023-07-16 23:34
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0
0
FX1506798088
more than one year
Oh, let me tell you about TGFXPrime! It's been a fantastic journey trading with them. With over 5 million customers from 120 countries, they have certainly earned their reputation as a leading financial investment company. The best part is, they offer a wide range of trading products, from forex and metals to cryptocurrencies and stocks – it's like a trader's dream come true! And the fact that they execute over 2.7 billion trading orders without re-quotes or rejections is just mind-blowing. Plus, their support for trading on the MT5 platform with unlimited leverage and competitive spreads makes it super convenient. I've had quick and hassle-free deposits and withdrawals 24/7, which is crucial for me as a trader. TGFXPrime has definitely become my go-to broker!
2023-07-16 23:29
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