TMS Brokers-Overview of Minimum Deposit, Spreads & Leverage

BASIC INFORMATION:

TMS Brokers is an award-winning Polish broker with offices across Europe. They offer trading on a range of markets including forex, indices, commodities and cryptocurrencies, via the TMS Smart Trading app or MT5 platform. In this article we review TMS Brokers app, demo account, spreads and more.

TMS Brokers S.A. is a Polish brokerage established over 20 years ago. It is regulated by the Polish Financial Supervision Authority and provides services to over 9,000 investors.

As of 2015, an associated company called TMS Brokers Europe Limited (Ltd) also existed in Malta. However, this company has now been dissolved and TMS Brokers S.A. supplies customers across Europe, with offices in Poland, Latvia, Russia, Spain and Lithuania. A deal was struck in September 2020 for Canadian firm Oanda to acquire TMS Brokers S.A.

REGULATORY INFROMATION: LICENSE

No valid regulatory information

Please be aware of the risk!

MARKET

TMS Brokers offers trading across a range of instruments:

· 18 indices

· 42 currency pairs

· 123 stocks across US, German, UK, Spanish and Polish markets

· 19 commodities including gold, silver and crude oil

· 5 cryptocurrency CFDs based on future contracts including Bitcoin, Ethereum and Ripple

· 40+ ETF contracts with shares from markets such as healthcare, raw materials or the biotechnology sector

SPREADS & COMMISSIONS

The brokerage offers reasonable spreads, especially considering that there is no minimum deposit. A comparison of TMS Brokers vs competitor XTB showed that both brokers offer a spread of 1 pip for EUR/USD

ACCOUNT TYPES

TMS Brokers offers the Connect account to retail clients, and Connect Professional account to professional clients. The standard Connect account offers full market access, no minimum deposits and competitive floating spreads.

To be eligible for the professional account, traders must meet at least two of the following criteria:

· Total assets of the entrepreneur amount to at least 20,000,000 EUR

· Revenues from sales achieved by the entrepreneur amount to at least 40,000,000 EUR

· Equity or own funds of the entrepreneur amount to at least 2,000,000 EUR

Professional accounts come with different margin rates and minimum trade volumes, but have a lower level of protection. Clients should refer to the relevant Financial Instruments Specification and Table of Fees and Commission documents for details of each, as fees, rates and volumes vary between markets.

DEPOSITS & WITHDRAWALS

TMS Brokers offer deposits via credit and debit card (Visa and Mastercard) and bank transfer.

Credit and debit card deposits are usually instant, but a deposit limit of 15,000 EUR applies.

Trustly can be used for instant bank transfers and supports major banks in Estonia, Finland, Spain, Poland, Sweden and Denmark. Deposits should be instantly credited to trading accounts, but can take up to one working day in some cases. Funds can also be deposited by regular bank transfer using banks in the Single Euro Payments Area (a list of member states can be found on the SEPA website). Deposits take between one and three working days using this method.

TMS does not charge any fees for these deposit services, although fees may apply for bank transfers. All methods require deposits to be in Euros, otherwise conversion costs may apply.

While there are no minimum deposit requirements, TMS Brokers recommends that clients deposit at least 100 EUR to avoid the 20 EUR fee charged for withdrawals below 100 EUR

DEMO ACCOUNT

Clients have the option to open a demo account via the SmartTrader mobile platform, where they can practice trading with 50,000 EUR in virtual funds. This account provides all the functionality of a live account

TRADING PLATFORMS

· Meta Trader 5

· TMS Smart Trading Platform

TRADING HOURS

Forex trading hours are 24/5, however other market hours vary. TMS Brokers provides details of trading hours for every available asset on the ‘Where to Invest’ section of their website.

Customer Support

TMS Brokers has a Facebook messenger chat option embedded on their website, where customers can contact the customer service team using their Facebook login or as a guest. In addition, a telephone number and email address are provided for each office:

Telephone

· International / Poland: +48 222 766 200

· Lithuania: +370 5 203 4495

· Latvia: +371 66 334 410

· Russia: +371 66 334 410

· Spain: +34 911 12 00 29

E-mail

· International: contact@tmsbrokers.com

· Lithuania: tms@tmsbrokers.lt

· Latvia: tms@tmsbrokers.lv

· Russia: tms@tmsbrokers.lv

· Spain: contact@tmsbrokers.es

· TMS Brokers registered address is ul. Złota 59, 00-120 Warsaw.

ACCEPTED COUNTRIES

TMS Brokers accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders cannot use TMS Brokers from United States