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

TP Global FX

Mauritius|Scam Brokers|
5-10 years|Regulated in United States|Suspicious Regulatory License|MT4/5 full license|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|

http://tpglobalfx.com/

Website

Rating Index

MT4/5 Identification

MT4/5

Full License

TPGlobal-Demo

United Kingdom
MT4
4

Influence

C

Influence index NO.1

India 4.29
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

Full License

4
Server Name
TPGlobal-Demo MT4
Server Location United Kingdom

Influence

Influence

C

Influence index NO.1

India 4.29

Surpassed 36.43% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+44 7441 416320
support@tpglobalfx.com
http://tpglobalfx.com/
305 Griffith Corporate Park, Beachmont Kingston, Saint Vincent & the Grenadines

Licenses

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

Single Core

1G

40G

Open Now

Contact number

English

+44 7441 416320

Broker Information

More

Company Name

TP GLOBAL FX LTD

Company Abbreviation

TP Global FX

Platform registered country and region

Mauritius

Company website
Twitter
Facebook
Instagram
YouTube
Linkedin

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

This platform is a Ponzi Scheme. Please stay away! 7
Previous Detection : 2024-03-19
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.

WikiFX Verification

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Expose

    TP Global FX · Company Summary

    TP Global FX Review Summary in 10 Points
    Founded 2017
    Registered Country/Region Mauritius
    Regulation No regulation
    Market Instruments Forex currency pairs, Metals, CFDs, Indices, Stocks, etc.
    Demo Account N/A
    Leverage 1:500
    EUR/USD Spread from 0.1 pips
    Trading Platforms MT4, MT5
    Minimum deposit $50
    Customer Support 24/5 telephone, email

    Note: TP Global FXs official site is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

    unavailable website

    What is TP Global FX?

    Established in 2017, TP Global FX is a forex and CFD broker registered in Mauritius. TP Global FX currently doesnt hold any valid regulatory licenses. Their National Futures Association (NFA) license (No. 0533098) in the United States is unauthorized and Vanuatu Financial Services Commission (VFSC) license (No. 40409) is a suspicious clone.

    TP Global FX has been verified to be illegal and all of its licenses have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!

    Pros & Cons

    Pros Cons
    • Competitive trading conditions • Verified scam broker/ponzi scheme/illegal
    • MT4 & MT5 trading platforms • Many complaints from users about withdrawals
    • Low minimum deposit requirement • Website is currently unavailable
    • Range of trading instruments • Lack of regulation and oversight
    • Multiple account options and types • Poor customer service and support
    • No commission on some account types and markets • Lack of transparency and information
    • No negative balance protection for retail clients
    • Limited payment options for deposits and withdrawals

    Please note that due to the verified scam nature of TP Global FX, it is not recommended to trade with this broker.

    TP Global FX Alternative Brokers

    There are many alternative brokers to TP Global FX depending on the specific needs and preferences of the trader. Some popular options include:

    • FXTM - a well-regulated broker with competitive spreads and a wide range of trading instruments.

    • AvaTrade - known for its user-friendly platforms and excellent customer service.

    • IG - a reputable broker with a long-standing history, offering a comprehensive range of trading instruments and platforms.

    In contrast, FXTM, AvaTrade, and IG have established reputations, offer competitive trading conditions and a wide range of trading instruments, and have reliable customer support.

    Is TP Global FX Safe or Scam?

    Based on the evidence and reports from customers, TP Global FX appears to be a scam and should be avoided. There are numerous complaints about the broker, including allegations of fraudulent activities, inability to withdraw funds, and the company's website being unavailable. It is important to always conduct thorough research before choosing a broker to ensure that they are legitimate and regulated.

    Market Instruments

    TP Global FX offers a diversified range of tradable instruments, which include Forex currency pairs, Metals, CFDs, Indices, Stocks, and more.

    Accounts

    TP Global FX offers investors three different types of accounts, the Standard Account (minimum deposit of $50), the Pro Account (minimum deposit of $500), and the Institutional Account (minimum deposit of $25,000). The minimum initial deposit of acceptable $50 is lower than the industry standard ($100). As TP Global FX is a scam broker and is no longer operating, it is not recommended to open any trading accounts with them.

    Account Types

    Leverage

    Trading leverage differs depending on trading accounts. The Standard and Pro accounts offer the maximum leverage of up to 1:500 for forex and precious metal trading. The institutional account offers the maximum leverage of up to 1:200. Since trading leverage can magnify gains as well as losses, traders should take care when using it.

    Spreads & Commissions

    Trading costs (spreads & commissions) are significantly affected by what trading accounts you are holding. The minimum spread for Standard accounts starts from 1.2 pips, and no commission is charged for trading. The minimum spread for Pro accounts starts from 0.2 pips, with a commission of $15 per lot charged. Institutional accounts have spread starting from 0.1 pips and commissions of $8 per lot.

    Below is a comparison table about spreads and commissions charged by different brokers:

    Broker EUR/USD Spread Commission
    TP Global FX From 1.2 pips $0
    FXTM From 0.1 pips $2/lot
    AvaTrade From 0.9 pips $0
    IG From 0.6 pips $0

    Note that the information varies based on account types and market conditions. It's always important to check the most up-to-date information on each broker's website before making a decision.

    Trading Platforms

    TP Global FX offers traders market-leading and highly acclaimed MT4 & MT5 accounts. MT4 is the industry's leading forex trading platform with a user-friendly interface, powerful charting tools, and data analysis tools that help traders develop their trading strategies and make trading a comfortable experience. MT5 is an upgraded version of MT4, and users can choose flexibly according to their actual needs.

    See the trading platform comparison table below:

    Broker Trading Platform
    TP Global FX MetaTrader4, MetaTrader5
    FXTM MetaTrader4, MetaTrader5, FXTM Trader
    AvaTrade AvaTradeGO, MetaTrader4, WebTrader
    IG IG Trading Platform, MetaTrader4

    Note: Each broker may offer additional trading platforms depending on the region and account type. The information provided on the table is based on the standard accounts offered globally.

    Deposits & Withdrawals

    Traders can deposit and withdraw funds to their TP Global FX accounts via Bitcoin, Wire Transfer, and USDT. Wire transfers require a minimum deposit of $1000, otherwise, a fee will be incurred.

    TP Global FX minimum deposit vs other brokers

    TP Global FX Most other
    Minimum Deposit $50 $100

    Fees

    As TP Global FX is an unregulated and illegal broker, it is not recommended to open an account with them. It is important to note that unregulated brokers may charge hidden fees and commissions, and there is no protection for clients in case of fraudulent activity. It is recommended to choose a reputable and regulated broker with transparent fee structures to ensure the safety of your funds.

    See the fee comparison table below:

    Broker Deposit Fee Withdrawal Fee Inactivity Fee
    TP Global FX No fees No fees $10/month
    FXTM No fees No fees $5/month
    AvaTrade No fees $3.5 + 0.5% $50/quarter
    IG No fees No fees $12/month

    User Exposure on WikiFX

    On our website, you can see that some users have reported scams and unable to withdraw. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section. We would appreciate it and our team of experts will do everything possible to solve the problem for you.

    User Exposure on WikiFX

    Customer Service

    TP Global FX provides clients with a client support team who are available 24/5 and can be reached via telephone (+44 7441 416320), email (support@tpglobalfx.com), and social media such as Twitter, Facebook, Instagram, YouTube and LinkedIn.

    Pros Cons
    • Multiple communication channels available • No 24/7 customer support
    • No personal account manager for lower-tier account holders
    • Slow response times to queries and issues

    Note that the above information is subject to change and may vary based on individual experiences.

    Conclusion

    Based on the verified reports of TP Global FX being a scam broker, it is strongly advised to avoid trading with them. While they may offer competitive trading conditions and a low minimum deposit requirement, the risk of being unable to withdraw funds or falling victim to fraudulent practices far outweighs any potential benefits. It is important to always do thorough research before choosing a broker to trade with, and to only select reputable and regulated brokers.

    Frequently Asked Questions (FAQs)

    Q 1: Is TP Global FX regulated?
    A 1: No. It has been verified that this broker currently has no valid regulations.
    Q 2: Does TP Global FX offer the industry-standard MT4 & MT5?
    A 2: Yes. Both MT4 and MT5 are available at TP Global FX。
    Q 3: What is the minimum deposit for TP Global FX?
    A 3: The minimum initial deposit to open an account is $50.
    Q 4: Is TP Global FX a good broker for beginners?
    A 4: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website and too many negative reviews.

    News

    ED Arrests Key Player Viraj Patil in Illegal Forex Scam

    NewsED Arrests Key Player Viraj Patil in Illegal Forex Scam

    2023-12-29 11:09

    ED arrests Viraj Patil in a high-profile illegal forex trading case, marking a key step in combating money laundering and financial fraud.

    WikiFX
    2023-12-29 11:09
    News
    ED Arrests Key Player Viraj Patil in Illegal Forex Scam
     The Indian ED seizes Rs 242 crore of assets from TP Global FX for illegal forex trading.

    Exposure The Indian ED seizes Rs 242 crore of assets from TP Global FX for illegal forex trading.

    2023-09-20 17:48

    The Directorate of Enforcement (ED) of India has launched a significant crackdown on illegal forex trading activities in Ahmedabad, targeting TP Global FX and its associates.

    WikiFX
    2023-09-20 17:48
    Exposure
     The Indian ED seizes Rs 242 crore of assets from TP Global FX for illegal forex trading.
    “Since nine months, I’m unable to withdraw” Victim stated

    Exposure“Since nine months, I’m unable to withdraw” Victim stated

    2023-09-05 14:46

    Scams are the biggest problem in the forex industry. You can only save yourself by being alert. This is the only possible way to save your hard-earned money. If you are not careful, you can be a victim of forex scams.

    WikiFX
    2023-09-05 14:46
    Exposure
    “Since nine months, I’m unable to withdraw” Victim stated
    WikiFX Review: TP Global FX, things to know before investing

    NewsWikiFX Review: TP Global FX, things to know before investing

    2022-12-27 16:57

    TP Global FX has been considered one of the leading and most trusted forex brokers of 2021. This article is to show you a comprehensive review of this broker based on the data, regulatory status, and so on.

    WikiFX
    2022-12-27 16:57
    News
    WikiFX Review: TP Global FX, things to know before investing

    User Reviews

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    User comment

    32

    Comments

    Write a review

    Hunterii
    more than one year
    Disappointing experience with TP Global FX. encountered issues while editing account details, such as changing passwords and investor passwords. Profit withdrawals delayed significantly. Appears to be an illegitimate scam broker.
    2024-02-29 17:25
    Reply
    0
    0
    FX2588799409
    more than one year
    FRAUD and SCAM. No customer care to resolve issue of customer. Withdrawal not working for your own money that you deposited in the account since Dec-2022. Multiple frauds of this company have been arrested by ED in Kolkata India. RBI has banned the in India. The monthly subscription costs 145$, and on return you will struggle to get 1% on your invested money. No document for filing taxation at the end of financial year. Most of the marketing Agents are dumbs with fake historical data.
    2023-03-09 04:56
    Reply
    0
    0
    Jeff ilsert
    more than one year
    TP Global Fx is the worst broker I have ever invested with, I l0st cl0se to $25k, am happy I was able t0 get refund fr0m, Gl0_baltraderec0very. net, forever greatful mas0n
    2023-02-22 17:51
    Reply
    0
    0
    Chun1776
    more than one year
    Trading with TP Global FX is a pleasant journey. Low commissions and spreads are the main reason I choose this broker. the fact is it does not let me down. Definitely five stars!
    2023-02-20 10:46
    Reply
    0
    0
    pri
    more than one year
    scam not getting withdrawal
    2022-12-20 04:52
    Reply
    0
    0
    刘毅贺
    more than one year
    The gold withdrawal speed is really too slow, even snails are faster than them. Now the more I think about it, the more scared I become. It has been more than ten days, and my money has not yet arrived. Maybe I will not encounter a scammer again. . .
    2022-12-14 18:13
    Reply
    0
    0
    FX1154806812
    more than one year
    When I asked if they could open a swap-free account, they told me no, but why can others? It is also said that the smallest trading position is a micro lot, but in fact a standard lot is required. Isn't this a real liar? I advise everyone not to trade with this platform.
    2022-12-13 09:49
    Reply
    0
    1
    Ashish Saini
    more than one year
    best forex broker
    2022-12-05 03:10
    Reply
    0
    0
    pri
    more than one year
    not giving withdrawal
    2022-12-05 02:20
    Reply
    0
    0
    Saif1988
    more than one year
    nice
    2022-11-29 22:08
    Reply
    0
    0
    SʌʀDʌʀ HAʆɘɘz BʌɭoCʜ
    more than one year
    hi iam New can you help me
    2022-11-19 10:14
    Reply
    0
    1
    Ashish Saini
    more than one year
    Great broker
    2022-11-16 22:18
    Reply
    0
    0
    puru
    more than one year
    withdrawal process started in USDT
    2022-11-16 22:10
    Reply
    0
    2
    vicky2420
    more than one year
    good
    2022-11-16 21:55
    Reply
    0
    0
    my account
    2022-11-16 18:11
    Reply
    0
    0
    my e
    2022-11-16 18:10
    Reply
    0
    0
    Ashish Saini
    more than one year
    tp global jald hi withdrawal dega usdt main wait karo
    2022-11-12 12:25
    Reply
    2
    3
    Waqar ali
    more than one year
    Hi my dear Sr I'm borkar
    2022-11-11 13:42
    Reply
    1
    2
    Rao
    more than one year
    fruad company dont believe , they stopped withdrawal
    2022-11-10 15:24
    Reply
    0
    1
    pri
    more than one year
    not getting withdrawal
    2022-11-10 02:31
    Reply
    0
    0
    23
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