TP Global FX Advantages
Supports the MT4
The inclusion of this platform within the broker’s offerings is always a good thing. The majority of traders are familiar with MetaTrader 4 and love it for its simplicity of use as well as its speed and reliability. Additionally, the platform has superior charting using a variety of indicators. Additionally, it offers a wide range of automated trading strategies a.k.a. Expert Advisors.
Multiple CFDs, including on cryptos available
TP Global FX offers trading in over 200 instruments, spanning six distinct asset types. They offer currencies, CFDs on indices, shares, commodities, and a broad variety of popular cryptocurrency like Bitcoin, Ethereum, Ripple and many more.
With the growing the popularity of Bitcoin and other altcoins several brokers are offering them as CFDs. However, the problem is that many of them have not been authorized by credible financial authorities.
Levels of leverage that are high
Leverage is a subject that has been criticized however it is an essential element of trading in forex. We observed the leverage offered through TP Global FX in demo environment to be extremely high that can reach 1:1000. While this can help traders earn huge profits from tiny deposits at first, it could result in a catastrophic losses, therefore caution is advised.
TP Global FX Disadvantages
Offshore brokers
TP Global FX is owned by Heart Capital Limited, a company that is believed to be based in Australia but, in reality is not controlled by the local Australian Securities and Investments Commission (ASIC). Instead, it’s authorized through the International Financial Services Commission (“IFSC”) of Belize to offer trading services. The company operates another brand of forex brokerage, HeartForex.
Belize is an internationally renowned offshore zone, and the regulations and licensing requirements are more relaxed than other countries. IFSC has established an initial minimal capital requirement for commodity and financial derivatives brokers of $500,000. Additionally, licensed entities are required to ensure that client funds are kept in separate accounts
However, the regulation in Belize is superior to that in other offshore regions however, little emphasis is put on oversight.
Standard Spreads that are higher than the average
According to the information available on the site, TP Global FX offers spreads beginning at 1.6 pip on EUR/USD for Standard account holders. This means that the standard spread should be at the minimum 1.8 per cent. The cost of trading for this is higher than the norm for the present situation of the forex market.
In addition we also found that the spreads for demo accounts were on average 1.2 pip on EUR/USD and there was no commission that would be a good fit with any of the types of accounts that we have previously discussed.
MTS provided by a third-party
We tried to download MT4 from the website of the broker It turned out it’s offered by another firm – TradePro Services Ltd. We do not know if and how the two firms are linked or not, but regardless we think it’s to be a disadvantage.
Conclusion
TP Global FX is the new brand name of the firm that also runs HeartForex. It is compatible with the popular MT4 platform and offers a broad selection of financial services for trades that have higher leverage. Although this company has been licensed under Belize’s IFSC however, it’s an offshore company, and doesn’t inspire much confidence.
Additionally, the spreads that are announced are also higher than average as well as the service is run by a third-party.
| TP Global FX Summary | |
|---|---|
| TP Global FX Details | Information |
| Regulators | |
| Country |  Australia |
| Base Currencies | USD, GBP |
| Type Of Brokers | ECN, STP |
| Trading Platform | Desktop, Mobile, MT4 |
| Established Year | 2018 |
| Website Language | English |
| US Clients | |
| TP Global FX Spreads | |
|---|---|
| Option | Information |
| Minimum Spreads | 0.0 |
| Commission | |
| Fixed Spreads | |
| TP Global FX Payment & Withdrawal Option | |
|---|---|
| Option | Information |
| Acc Funding Methods |  Skrill,  WebMoney,  Wire transfer,  Master Card,  Visa Card |
| Acc Withdrawal Methods | Skrill, WebMoney, Wire transfer, Master Card, Visa Card |
| TP Global FX Suitable For | |
|---|---|
| Option | Information |
| Publicly Traded | |
| Beginners | |
| Day Trading | |
| Weekly Trading | |
| Professionals | |
| Swing Trading | |
| TP Global FX Trading Account Options | |
|---|---|
| Option | Information |
| Maximum Leverage | 1:1000 |
| Mini Account | |
| VIP Accounts | |
| Segregated Accounts | |
| Free Demo Accounts | |
| Managed Accounts | |
| Pro Account | |
| Minimum Deposit | $100 |
| Islamic Account | |
| TP Global FX Trading Services | |
|---|---|
| Option | Information |
| Hedging | |
| News Trading | |
| Scalping | |
| Automated Trading | |
| Indices | |
| Commodities | |
| Forex instruments | |
| CFDs | |
| ETFs | |
| Stocks | |
| Bonds | |
| Cryptocurrencey | |
| Trading Signals | |
| Educational Service | |
| Copy Tradings | |
| TP Global FX Contact & Support | |
|---|---|
| Option | Information |
| Telephone No | +13477361679 |
| support@tpglobalfx.com | |
| 24 Hours Support | |
| Support During Weekends | |
| Address | 305 Griffith Corporate Park, Beachmont Kingston, Saint Vincent & the Grenadines |
