Note: GPM is to operate via the website - http://www.gpmfx.com/#, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
TiMarkets, a trading name of Beradora Ltd, is allegedly a forex broker registered in the United Kingdom that claims to provide its clients with various tradable financial instruments with leverage up to 1:500 and floating spreads from 0.2 pips on the MT4 trading platform via four different live account types. Here is the home page of this brokers official site:
As for regulation, it has been verified that TiMarkets currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.31/10. Please be aware of the risk.
Market Instruments
TiMarkets advertises that the tradeable assets are forex currency pairs, metals, oils, energies, shares, futures, cryptocurrencies, indices, and spot indices.
Account Types
Apart from free demo accounts, TiMarkets claims to offer 4 types of trading accounts - Micro, Standard, Premium and VIP, with minimum initial deposit requirements of $/€250, $/€2,500, $/€25,000 and $/€100,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
The specified leverage for different account types at TiMarkets varies between 1:100 and 1:500. Clients on the Micro account can enjoy the maximum leverage of 1:500, the Standard account holders can experience leverage of 1:300, while the maximum leverage ratio on the Premium and VIP account is 1:100. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
All spreads with TiMarkets are a floating type and scaled with the accounts offered. For example, the spread starts from 1 pip on the Micro and Standard accounts, from 0.6 pips on the Premium account and 0.2 pips on the VIP account. However, the trading terminal revealed a cost of trade for the EUR/USD currency pair of 1.5 pips, which is not as low as it advertises but equals the industry average spreads.
Trading Platform Available
The platform available for trading at TiMarkets is one of the most notable and preferred trading platforms the market offers - MetaTrader4. This trading terminal is highly praised by traders and brokers alike due to its ease of use and great functionality. The MT4 offers top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
Investing in TiMarkets can happen through one of the following ways: Cashier, bank transfer, and credit card, while withdrawals happen only through a bank transfer. The minimum initial deposit requirement is said to be €50. The broker does charges the withdrawal fee that has been nevertheless undisclosed. Withdrawals are processed within 5 days.
Bonuses
TiMarkets also offers some bonuses. However, the user cannot withdraw profit. In any case, you should be very cautious if you receive a bonus. Bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Note that brokers are prohibited from using bonuses and promotions by all leading regulators.
Customer Support
TiMarkets customer support can be reached by telephone: +49 151 28313710, email: contact@timarkets.com. Company address: Crown House, 27 Old Gloucester Street, London, United Kingdom & Suite 305, Griffith Corporate Centre, Beachmont, P.O Box 1510, St. Vincent And the Grenadines.
Pros & Cons
Frequently Asked Questions (FAQs)
2023-03-14 13:57
