Score

1.55 /10
Danger

TFI

Suspicious Regulatory License

Suspicious Scope of Business

United Kingdom European Authorized Representative (EEA) Revoked

High potential risk

C

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Comparison

Quantity 2

Exposure

Time Machine
Website

Score

Regulatory Index0.00

Business Index7.30

Risk Management Index0.00

Software Index4.00

License Index0.00

Time Machine
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

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Company Name

TFI Markets Ltd

Company Abbreviation

TFI

Platform registered country and region

Cyprus

Company website

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Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 4
Previous Detection : 2024-12-22
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!

WikiFX Verification

Pyramid scheme complaint
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TFI · Company summary
TFI Review Summary
Founded1996
Registered Country/RegionCyprus
RegulationFCA (revoked), CYSEC (suspicious clone)
Services Currency Payments, Currency Conversions, Currency Risk Management
Customer SupportLive chat; contact form
Tel: (+357) 22 749 800
Fax: (+357) 22 817 496
Head Office: 27 Pindarou, Alpha Business Center, Block A, 3rd Floor, 1060 Nicosia, Cyprus; P.O Box 16022, 2085, Nicosia, Cyprus
Social media: LinkedIn, Facebook, YouTube

TFI Information

TFI, the trading name of TFI Markets Ltd, started its financial business in 1996 mainly for business clients. It offers currency solutions such as currency payments, currency conversions and currency risk management. The API integration between the TFI system and the customer system allows for high-efficient currency trading.

In addition, the company implements fund segreation and adheres to PSD2 Secure Customer Authentication guidelines to protect customer assets.

However, one thing worth noting is that the company operates under revoked FCA and suspicious CYSEC clone status, which are alarming red flags for clients about its reliability. And there are even two WikiFX exposures about withdrawal issues, further exacerbating its credibility.

TFI's homepage

Pros and Cons

Pros Cons
Many years' industry experienceFCA revoked and suspicious CYSEC clone
Fund segregationWikiFX exposures about withdrawal issues
API integration solution
Live chat support

Is TFI Legit?

TFI claims to be regulated by FCA (Financial Conduct Authority) and CYSEC (Cyprus Securities and Exchange Commission) with licenses numbering at 527167 and 117/10 respectively. However, the license status are “Revoked” for FCA and “Suspicious clone” for CYSEC, indicating that the broker's business activities might no longer comply with the regulatory requirements or have surpassed the authorized scope. You should be aware of this and take it into account when deciding to trade with this company.

Regulated CountryRegulatorCurrent StatusRegulated EntityLicense TypeLicense Number
UK
FCARevoked TFI Markets LtdEuropean Authorized Representative (EEA)527167
Cyprus
CYSECSuspicious cloneTFI Markets LtdMarket Making (MM)117/10
Revoked FCA license
Suspicious clone CySEC license

Services

TFI Currency Solutions offers tailored services across three key categories: Currency Payments, Currency Conversions, and Currency Risk Management.

  • Currency Payments: Enables businesses to send and receive payments globally in multiple currencies through a free multi-currency account, with same-day transactions available at minimal or zero charges.
Currency Payments
  • Currency Conversions: TFI provides competitive exchange rates with no commission, the ability to lock in rates, and a 24/5 online portal for streamlined currency management.
Currency Conversions
  • Currency Risk Management: These include customized strategies to mitigate market volatility, allowing businesses to lock in rates for up to one year to protect profit margins and enhance financial stability.
Currency Risk Management

Fees

TFI charges rollover fees for unsettled forex transactions overnight, and a series fees for different tier of clients, such as account management fees, transactions fees, incoming and outward payment fees. You can visit below links for most updated details of these fees:

  • Tier 1: https://tfimarkets.com/uploads/legal/Fees%20%26%20Charges%20-%20Tier%201.pdf
  • Tier 2: https://tfimarkets.com/uploads/legal/Fees%20%26%20Charges%20-%20Tier%202%20(For%20Enhanced%20Due%20Diligence%20clients).pdf
  • Rollover fees:https://tfimarkets.com/rollover-fees/

News

NewsCySEC Takes Action Against Ayers Alliance, BCS (Cyprus) for Non-Compliance

CySEC, the Cypriot financial market regulator, maintains its war on noncompliance, announcing enforcement action against two more regulated entities on Tuesday, Ayers Alliance Financial Group Limited and BrokerCreditService (Cyprus) Limited.

WikiFX
2022-04-20 11:51
CySEC Takes Action Against Ayers Alliance, BCS (Cyprus) for Non-Compliance

User Reviews

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User comment

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Comments

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3744
more than one year
Since I started using TFI Markets, handling my business transactions has gotten a lot easier. The same-day value payments are quick. It's straightforward and effective, exactly what I need for my daily operations.
Since I started using TFI Markets, handling my business transactions has gotten a lot easier. The same-day value payments are quick. It's straightforward and effective, exactly what I need for my daily operations.
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2024-06-27 15:28
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YINYINYIN
more than one year
Pretty solid. Their focus on currency services is something to highlight - they've got currency conversions, third-party payments, and risk mitigation solutions sorted. Bonus points for their API solutions as well. But it's not all sunshine and rainbows, you've got to have your guard up when it comes to risks and costs. Remember, knowledge is power!
Pretty solid. Their focus on currency services is something to highlight - they've got currency conversions, third-party payments, and risk mitigation solutions sorted. Bonus points for their API solutions as well. But it's not all sunshine and rainbows, you've got to have your guard up when it comes to risks and costs. Remember, knowledge is power!
Translate to English
2024-05-15 13:47
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