Note: Tassmans official site - https://www.tassmanfx.com/index.html？lan=en is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is Tassman？
Tassman, with full name Tassman Foreiign Exchange Pty Ltd, is a United Kingdom-based global brokerage firm that offers Forex Pairs, Indices, Shares, ETFs, Soft and Energy commodities, Precious Metals, Futures, Bonds and Crypto currencies as its market instruments to traders. However, it is important to note Tassman is currently not regulated by any recognized financial authorities which raises concerns when trading.
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.
Pros & Cons
Tassman Alternative Brokers
There are many alternative brokers to Tassman depending on the specific needs and preferences of the trader. Some popular options include:
Forex.com- Forex.com is a reputable and well-established broker known for its user-friendly trading platforms and extensive educational resources, making it an excellent choice for both novice and experienced traders.
TigerWit- TigerWit offers innovative blockchain-based trading technology and a wide range of financial instruments, making it an attractive option for traders seeking cutting-edge solutions and diverse market opportunities.
TD Ameritrade-TD Ameritrade is a powerhouse in the brokerage industry, offering a comprehensive suite of investment services, advanced trading platforms, and research tools, making it a top choice for traders and investors looking for a full-service brokerage experience.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Is Tassman Safe or Scam？
When considering the safety of a brokerage like Tassman or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:
Regulatory sight: It is not regulated by any major financial authorities,which means that there is no guarantee that it is a safe platform to trade with. Besides, the official website of the broker is inaccessible, indicating that the trading platform may have absconded. These make investing with them risky.
User feedback: Read reviews and feedback from other clients to get an understanding of their experiences with the brokerage. Look for reviews on reputable websites and forums.
Security measures: So far we cannot find any security measures info on Internet for this broker.
Ultimately, the decision of whether or not to trade with Tassman is a personal one. You should weigh the risks and benefits carefully before making a decision.
Market Instruments
Tassman offers an extensive range of market instruments that cater to traders' diverse needs:
Forex Pairs: Traders can engage in the dynamic world of currency trading with a variety of Forex pairs, providing opportunities to profit from fluctuations in exchange rates.
Indices: Tassman provides access to a wide array of stock indices, allowing traders to speculate on the performance of entire markets or sectors.
Shares: The platform offers opportunities to invest in individual company shares, enabling traders to take ownership stakes in publicly traded companies.
ETFs (Exchange-Traded Funds): ETFs provide diversification by offering exposure to various assets such as stocks, bonds, or commodities, making them an ideal choice for portfolio diversification.
Soft and Energy Commodities: Traders can participate in the commodities market, including agricultural (soft) and energy commodities like oil and natural gas.
Precious Metals: Tassman includes precious metals like gold, silver, and platinum, allowing traders to invest in safe-haven assets.
Futures: Futures contracts on various assets are available for traders interested in speculating on future price movements.
Bonds: The platform offers the opportunity to invest in bonds, which are fixed-income securities providing regular interest payments.
Cryptocurrencies: Traders can access the exciting world of cryptocurrencies, including Bitcoin and Ethereum, to capitalize on the digital asset market's potential through the platform.
Leverage
Tassman offers its clients leverages up to 1:100. Leverage is a powerful tool that allows traders to control a larger position in the market with a relatively smaller amount of capital. With a leverage ratio of 1:100, clients have the potential to amplify their trading positions substantially, thus increasing the potential for both profits and losses.
While higher leverage can enhance trading opportunities, it also comes with increased risk, as market fluctuations can have a more significant impact on account balances. Traders are advised to approach leveraged trading with a thorough understanding of the associated risks and to implement risk management strategies diligently.
Spreads & Commissions
Tassman presents a spread of 1.0 pips for the widely traded EUR/USD currency pair. However, it's worth noting that specific commission details are not readily available in the provided information. For traders interested in understanding the complete cost structure associated with trading on this platform, reaching out to the broker directly for commission details is advisable. By initiating direct contact with the broker, interested traders can ensure that they have a clear understanding of all fees, commissions, and expenses associated with their trading activities on Tassman.
Below is a comparison table about spreads and commissions charged by different brokers:
Please keep in mind that spread values can vary depending on market conditions, account type, and other factors. Commission structures may also differ based on the broker's pricing model and the type of account being used. It's important to review the official websites or contact the brokers directly for the most accurate and up-to-date information on spreads and commissions.
Trading Platforms
Tassman's claim of offering the popular MT5 trading platform may initially attract traders, but it's important to note that the platform is not readily downloadable on its web.
Instead, Tassman provides its proprietary FX6 platform for both desktop and mobile trading. One notable caveat is that traders cannot download this platform until after opening an account. This approach may be seen as a drawback for those who prefer to explore and familiarize themselves with a trading platform before committing to an account.
See the trading platform comparison table below:
Deposits & Withdrawals
In practice, Tassman has a rather unique approach to its funding methods, primarily accepting payments exclusively in cryptocurrencies, specifically USD Tethers (USDT).
While the broker claims to offer bank transfer as a payment option, it's important to note that this method necessitates direct contact with customer support. This requirement introduces an additional layer of complexity for traders who may have initially considered using bank transfers as a payment method.
Therefore, potential users should be aware of this particular funding process and the preference for cryptocurrencies when evaluating Tassman as their trading platform, ensuring that it aligns with their financial preferences and capabilities.
Customer Service
Tassman provides customer service options to assist its clients in different areas through email and address. Customers can reach out to Tassman through the channels to address their queries and concerns as below:
Address: 4d Salisbury Road,Weston-Super-Mare,Somerest,United Kingdom ,BS22 8EW.
Email: support@tassmanfx.com.
Conclusion
According to available information online, Tassman is a UK-based brokerage firm offers Forex Pairs, Indices, Shares, ETFs, Soft and Energy commodities, Precious Metals, Futures, Bonds and Crypto currencies as market instruments to traders.
However, the fact that it is non-regulated is an immediate red flag, as regulated brokers are subject to oversight and compliance with established financial regulations, providing clients with a level of assurance and protection. The lack of proper regulation and oversight increases the potential risks for traders, leaving them vulnerable to potentially fraudulent activities or misconduct. Additionally, an unfunctional website indicates a lack of professionalism and attention to details, which further erodes confidence in the company's ability to provide reliable and efficient services.
As such, individuals considering Tassman as their brokerage firm should exercise extreme caution and thoroughly research alternative, regulated options that prioritize transparency, security, and accountability.
Frequently Asked Questions (FAQs)
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 provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
2023-03-16 13:40
