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Hong Kong
5-10 yearsSuspicious Regulatory License
MT4 Full License
United States Common Financial Service License Unauthorized
Suspicious Overrun
High potential risk
Benchmark
Influence
Add brokers
Comparison
Quantity 1
Exposure
Score
Regulatory Index0.00
Business Index7.08
Risk Management Index0.00
Software Index8.09
License Index0.00
Single Core
1G
40G
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Company Name
TP Trades Holding Limited
Company Abbreviation
TP Trades
Platform registered country and region
Hong Kong
Company website
Company summary
Pyramid scheme complaint
Expose
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.
TP Trades Review Summary in 10 Points | |
Founded | 2019 |
Registered Country/Region | China Hong Kong |
Regulation | NFA |
Market Instruments | forex, spot metals, CFDs, and spot indices |
Demo Account | N/A |
Leverage | 1:500 |
EUR/USD Spread | From 1.5 pips |
Trading Platforms | MT4 |
Minimum deposit | $50 |
Customer Support | 24/7 live chat, email |
TP Trades is an online broker, operated by TP Trades Holding Limited, a company registered in Hong Kong. TP Trades advertises that it serves retail and institutional customers from over 180 countries in Europe, Asia, the Middle East, Africa and Latin America.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
TP Trades offers a decent selection of trading instruments, different account types, and leverages. Their MT4 trading platform is popular and user-friendly. However, TP Trades is not available for all residents all the world.
Pros | Cons |
• Various trading instruments | • Clients from UK, Europe, and US are not accepted |
• Multiple account types to choose from with a low minimum deposit requirement | • Withdrawal fees and payment methods are not clear |
• Competitive spreads and commissions | • Limited educational resources |
• 24/7 customer support available |
It's important to note that the lack of a valid regulatory license and unclear withdrawal fees/payment methods are significant cons that may outweigh some of the other pros. Traders should exercise caution when considering TP Trades as a potential broker.
There are many alternative brokers to TP Trades depending on the specific needs and preferences of the trader. Some popular options include:
FXCM - offers a wide range of trading instruments and educational resources, but its high minimum deposit and variable spreads may not be suitable for all traders.
Swissquote - provides a comprehensive range of trading instruments, advanced trading platforms, and strong regulatory oversight, but its high fees and minimum deposit may not be suitable for beginner traders.
Vantage FX - offers competitive trading conditions, multiple account types, and a wide range of trading instruments, but its limited regulatory oversight and lack of negative balance protection may not be suitable for all traders.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
TP Trades has been registered with the National Futures Association (NFA) under regulatory license no. 0556682, which could give traders some trading confidence when trading with this broker.
As a forex and CFD broker, TP Trades offers a range of more than 50 tradable instruments across several markets, including forex, spot metals, CFDs, and spot indices. Forex trading is available on major, minor, and exotic currency pairs, while spot metals trading allows clients to invest in gold and silver. CFD trading includes various products such as indices, commodities, and shares. TP Trades also offers spot indices trading that allows clients to invest in several indices, including the S&P 500, NASDAQ 100, DAX 30, and FTSE 100. Overall, TP Trades offers a relatively diverse range of instruments for traders to choose from.
There are three trading accounts on offer: Standard, STP Pro and ECN accounts, with the minimum initial deposit for three accounts all as low as $50. Despite the low initial deposit, traders are not advised to open accounts here given the fact that TP Trade is unregulated.
While TP Trades offers different leverage ratios for different account types, excessive leverage can increase the risk of losses. The leverage ratios offered by TP Trades are 1:500 for forex, 1:300 for metals, 1:200 for CFDs, and 1:7 for cryptocurrencies.
It is important for traders to carefully consider the appropriate leverage ratio for their trading strategy and risk management. It is recommended to use lower leverage ratios for inexperienced traders or those who are not comfortable with high levels of risk.
Spreads and commissions vary depending on various trading accounts. The minimum spreads on the Standard accounts start from 1.5 pips, from 0.7 pips in the STP Pro account, both with no commissions charged. However, ECN accounts charge a commission of $7 per lot with a minimum spread of 0.0 pips. It is essential to note that traders should consider these costs when making their trading decisions, as they can affect profitability.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission per lot (round trip) |
TP Trades | 1.5 pips | $0-$7 |
FXCM | 1.3 pips | $0-$6 |
Swissquote | 1.2 pips | $0-$10 |
Vantage FX | 1.0 pips | $0-$7 |
Note that the actual spreads and commissions charged by each broker may vary depending on various factors, including the account type and market conditions.
When it comes to trading platform available, what TP Trade offers is the White Label MT4 trading platform, available for Windows, iPhone/iPad, Android iOS. The MT4 platform is a well-known and widely-used trading platform in the industry, offering advanced charting tools, technical analysis, and a range of order types. The platform also supports automated trading through expert advisors (EAs) and allows for customization of indicators and charting tools. The availability of the MT4 platform on multiple devices allows for flexibility and convenience for traders who prefer to trade on-the-go.
See the trading platform comparison table below:
Broker | Trading Platforms |
TP Trades | MT4 |
FXCM | Trading Station, MT4, NinjaTrader |
Swissquote | Advanced Trader, MetaTrader 4 |
Vantage FX | MetaTrader 4, MetaTrader 5, WebTrader |
TP Trades does not clarify payment methods it supported, but provides some deposit and withdrawal details. Withdrawal less than $5,000.00 shall be made within 24 hours, for the amount more than $5,000.00 shall be made within 5 working days. Besides, the company reserves the right to allow minimum withdrawal of $10 each time and the maximum daily limit of $20,000, the amount exceed the limit will be handle on case by case basis.
TP Trades | Most other | |
Minimum Deposit | $50 | $100 |
See the deposit/withdrawal fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee |
TP Trades | N/A | N/A |
FXCM | No | No |
Swissquote | No | CHF 2.50 per withdrawal |
Vantage FX | No | No |
Please note that the above information is subject to change and you should always refer to the broker's official website for the most up-to-date information.
The TP Trades customer support team can be reached 24/7 though live chat, email (support@tptrades.com) and online messaging. However, the broker does not have a phone number listed for customer service. Additionally, there is limited information available on their website about their customer service team and their qualifications. It is always recommended to exercise caution when dealing with brokers that do not have a clear and transparent customer service policy.
Pros | Cons |
• 24/7 live chat available | • Limited social media presence |
• Responsive customer support team | • No phone support |
Note: These pros and cons are subjective and may vary depending on the individual's experience with TP Trades' customer service.
TP Trades is broker with various trading instruments and account types, but lacks transparency in certain areas such as payment methods. The company offers competitive spreads and commissions for its accounts, and provides a reliable trading platform in the form of the MT4.
Q 1: | Is TP Trades regulated? |
A 1: | Yes. TP Trades has been registered with the NFA. |
Q 2: | At TP Trades, are there any regional restrictions for traders? |
A 2: | Yes. TP Trades doesn not accepts residents of the United Kingdom, Europe, the United States, or use by any person or jurisdiction where such distribution or use would be contrary to local law or regulation. |
Q 3: | Does TP Trades offer the industry-standard MT4 & MT5? |
A 3: | Yes. It supports MT4. |
Q 4: | What is the minimum deposit for TP Trades? |
A 4: | The minimum initial deposit to open an account is $50. |
Q 5: | Is TP Trades a good broker for beginners? |
A 5: | No. It is not a good choice for beginners. Though it advertises well, it is unregulated and lack of transparency on deposit/withdrawal. |
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