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Saint Vincent and the Grenadines
2-5 yearsSuspicious Regulatory License
Suspicious Scope of Business
High potential risk
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Comparison
Quantity 21
Exposure
Score
Regulatory Index0.00
Business Index6.66
Risk Management Index0.00
Software Index4.00
License Index0.00
No valid regulatory information, please be aware of the risk
Single Core
1G
40G
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Company Name
TGX MARKETS LLC
Company Abbreviation
TGX MARKETS
Platform registered country and region
Saint Vincent and the Grenadines
Company website
Company summary
Pyramid scheme complaint
Expose
Unable to withdraw
My account has been blocked.
My account balance was $568 and I applied for withdrawal of $100 and $68 while they rejected
I wanna withdraw my funds after profiting in January. The broker delayed my applications with varied reasons. They promised that they would pay me by the end of March. But they haven't kept their promise. Please follow up tp ensure that there is no more victim.
Can not reach them
My account has been blocked for two months...
TGX MARKETS told me that I could get my witdhrawal at the end of March. But now I am unable to login. There are some more victims like me
First I want to pay $2,173, first it's pending, then it's processed. It said it had been sent to LD but it wasn't on TF...it said there wasn't any IDR yet OK, wait. Well then because the wd took so long, I stupidly ended up depositing another $1,000. And in the end the account ended up being banned.
Unable to withdraw
After I applied for withdrawal. I was blocked for chaing IP.
ACCOUNTS BLOCKED!!, WD REJECTED!!, LEADER FLASHED!! RO TGX Markets on behalf of SASHI Tropedi and BB WAZIR. Be careful when you meet them!!!
I've been trading on TGX since November 2020, everything is still safe for the deposit and WD process, and it's also fast. Until the end of January after one of their LDs ran away with funds (not my LD) then the WD process at TGX became blocked. All Indonesian traders are banned from entering their web dashboard and all withdrawals are rejected and funds are held. RO TGX informed us to send an email to HQ, but after the client sent an email asking about their withdrawal process, then all client accounts were banned.
Unable to withdraw!!!
My account has been blocked after waiting two months... Unable to withdraw...
Even though I only made one transaction with a capital of 500$, I made a profit of 1,449$, I wanted to withdraw it but it was detained and not paid until now, even those who asked for WD in the group were immediately kicked out.
I'm sad with the way TGX Markets LCC handled my investment, they denied my withdrawal the 5th time in a row. I have contacted their support but to no avail. It all started in February when made two investments, one at Cryptoassetsbay.tech which yielded the appropriate returns unlike my investment at TGX Market where I cannot even get my capital off the system. I hope others can expose fake investment platform and promote the good ones. I understand that they might use different strategies but no one deserves to lose their hard earned money.
Note: TGX MARKETS official site - https://tgxmarkets.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
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.
TGX MARKETS Review Summary in 10 Points | |
Founded | N/A |
Registered Country/Region | Saint Vincent and the Grenadines |
Regulation | No license |
Market Instruments | Forex, Precious Metals, Energies, Indices |
Demo Account | N/A |
Leverage | 1:1000 |
EUR/USD Spread | From 1.3 pips (Standard) |
Trading Platforms | MT4 |
Minimum deposit | $10 |
Customer Support |
TGX MARKETS is a forex and CFD broker, operated by TGX MARKETS LLC and registered in the Saint Vincent and the Grenadines. The broker claims to offer a variety of financial instruments with three account types through the MetaTrader 4 (MT4) trading platform. However, there are concerns about the legitimacy of TGX MARKETS as it does not hold any valid regulatory licenses and has too many negative reviews from some clients.
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.
There are several pros and cons to consider with TGX MARKETS. Pros include the wide range of financial instruments offered, and the availability of multiple account types. Additionally, the minimum deposit requirement is relatively low, starting at $10 for the Micro account.
However, there are also several significant concerns, including the lack of regulatory licenses and the negative reviews from clients reporting issues with withdrawals and potential scams. Customer service is also a major concern, with only email support available and reports of poor response times.
Pros | Cons |
• Wide range of financial instruments offered | • No valid regulatory license |
• Multiple account types | • Negative reviews reporting issues with withdrawals and potential scams |
• Low minimum deposit requirement ($10) | • Lack of transparency |
• Limited info on deposit/withdrawal | |
• Only email support |
There are many alternative brokers to TGX MARKETS depending on the specific needs and preferences of the trader. Some popular options include:
NAGA - A social trading platform with a wide range of markets and innovative features, but with high fees.
Rakuten Securities - A well-regulated broker with a good range of trading instruments, but with limited customer support options.
UFX - A user-friendly broker with a good range of trading instruments and excellent customer support, but with high fees and limited educational resources.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Based on the information available, it is not safe to assume that TGX MARKETS is a legitimate and trustworthy broker. The lack of valid regulatory licenses and the numerous negative reviews about difficulties with withdrawals and accusations of being a scam are red flags. It is advisable to exercise caution and avoid investing with this broker.
TGX MARKETS advertises that it can offer a wide range of financial products, including currency pairs of Major, Minors and Exotics, indices, commodities, as well as cryptocurrencies. The availability of such a wide range of trading instruments can potentially offer traders with different trading preferences ample opportunities to diversify their trading portfolios.
However, due to the concerns over the broker's regulatory status and negative reviews from clients, traders should exercise caution before investing their money with TGX MARKETS.
TGX MARKETS offers Micro, Standard, and ECN account types, with minimum deposit requirement of $10, $100 and $500 respectively. The entry level at TGX MARKETS is set at $10, which is considered to be fine. However, traders are still not advised to register real trading accounts here given the fact that TGX MARKETS is an unregulated broker.
TGX MARKETS offers leverage up to 1:1000 for Micro and Standard accounts, and 1:100 for ECN accounts. 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.
TGX MARKETS claims to offer variable spreads that start from 2.5 pips on the Micro account, 1.3 pips on the Standard account, and 0.1 pips on the ECN account. However, the broker does not provide any information regarding commission fees. This lack of transparency is concerning, as commission fees can significantly impact a trader's profits.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commissions |
TGX MARKETS | 2.5 pips | Not disclosed |
NAGA | 0.1 pips | $5 per lot (round turn) |
Rakuten Securities | 0.3 pips | Not disclosed |
UFX | 2.0 pips | Not disclosed |
Note: The above information is subject to change and may vary depending on the account type and market conditions. It is always recommended to check with the broker's official website for the latest information.
The platform provided by TGX MARKETS is MetaTrader4 (MT4), which is known for its user-friendly interface, advanced charting tools, and a wide range of technical indicators. MT4 is highly customizable, allowing traders to create and use their own trading algorithms, expert advisors, and indicators. The platform also supports one-click trading, automated trading, and hedging.
Overall, MT4 is a robust and reliable platform that is suitable for both novice and experienced traders. However, it is important to note that TGX MARKETS does not offer any proprietary trading platforms or mobile applications, which may limit some traders' options.
See the trading platform comparison table below:
Broker | Trading Platforms |
TGX MARKETS | MetaTrader 4 (MT4) |
NAGA | NAGA Web, NAGA Trader, MetaTrader 4 (MT4) |
Rakuten Securities | Rakuten FX, Rakuten Securities OptionTrader, MT4 |
UFX | ParagonEx Web Trader, MetaTrader 4 (MT4) |
Note: Please keep in mind that the information provided is subject to change and may not be up to date at the time of viewing.
The payment options at TGX MARKETS cover a lot of ground. They feature Credit Cards, Skrill, Nereller, China Union Pay and CashU. The minimum deposit requirement is $10, which is relatively low compared to other brokers.
TGX MARKETS | Most other | |
Minimum Deposit | $10 | $100 |
However, there is no detailed information available on deposit and withdrawal fees, processing times, or any other relevant details. It is important for traders to exercise caution and carefully review the terms and conditions before making any deposits or withdrawals with TGX MARKETS.
See the deposit/withdrawal fee comparison table below:
Broker | Deposit Fees | Withdrawal Fees |
TGX MARKETS | Unknown | Unknown |
NAGA | Free | Free for the first time, then up to €10 per withdrawal |
Rakuten Securities | Free | Free |
UFX | Free | Free for the first withdrawal each month, then up to $/€/£50 per withdrawal |
Please note that fees may vary depending on the payment method used and the account type. It is always recommended to check with the broker directly for the most up-to-date information on fees and charges.
TGX MARKETS' customer service is limited as it only offers email: support@tgxmarkets.com support. This can be a concern for traders who require more immediate assistance or have urgent issues that need to be resolved quickly.
Additionally, the lack of phone or live chat support may make it difficult for traders to get in touch with the broker, leading to frustration and potentially unresolved problems.
Overall, the limited customer service options of TGX MARKETS may be a drawback for traders seeking a more accessible and responsive broker.
Pros | Cons |
• Only email support | • No 24/7 customer support |
• No live chat or phone support | |
• No social media updated | |
• No info on address revealed |
Note: These pros and cons are subjective and may vary depending on the individual's experience with TGX MARKETS' customer service.
It is important to exercise caution when investing with any broker, and this includes TGX MARKETS. It is concerning to see reports of scams and issues with withdrawals from some users. 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.
Based on the information available, it is not safe to assume that TGX MARKETS is a legitimate and trustworthy broker. The lack of valid regulatory licenses and the numerous negative reviews about difficulties with withdrawals and accusations of being a scam are red flags. It is advisable to exercise caution and avoid investing with this broker.
Q 1: | Is TGX MARKETS regulated? |
A 1: | No. It has been verified that this broker currently has no valid regulation. |
Q 2: | Does TGX MARKETS offer the industry-standard MT4 & MT5? |
A 2: | Yes. It supports MT4. |
Q 3: | What is the minimum deposit for TGX MARKETS? |
A 3: | The minimum initial deposit to open an account is just $10. |
Q 4: | Is TGX MARKETS 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. |
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