TP Global FX: A Scam Broker Unmasked

Being vigilant and aware of the warning signs that indicate a fraudulent broker is crucial in the dynamic world of online trading, where the allure of large profits can make one lose sight of reality. Many accusations surround TP Global FX, making it a contentious character. False promises of financial success are used to defraud naive traders. Although trading in the foreign exchange and stock markets can be appealing, it is essential to the warning signs that can reveal fraudulent activities. Read on to learn about the questionable dealings of TP Global FX so you can safeguard your assets and make educated judgments.

TP Global FX: Deceptive Claim

As “the top online trading platform in the world”, TP Global FX bills itself as providing cutting-edge technology, True STP pricing, a plethora of trading tools, and a seamless trading experience across more than 100 instruments. The platform claims 24/7 support and offers three main account types: Standard, Pro, and Institutional. It also offers Islamic accounts. But beneath the surface is a web of trickery, with exaggerated claims of low spreads and STP pricing. Based on reports, It engages in manipulative trading, subjecting traders to significant risks and losses. Discover the truth as we expose the dubious activities that damage TP Global FX's façade.

_{The screenshot of TP Global FX's website}

Is TP Global FX Regulated?

Although TP Global FX used to hold registration number 25274 BC 2019 with the St. Vincent and the Grenadines Financial Services Authority (SVG FSA), the reliability of traders registered there is questionable. Most importantly, the registration number no longer exists and the SVG FSA does not regulate forex broker. 

Clientele Feedback

TP Global FX has been implicated in multiple fraud cases and has been banned by the RBI in India. The company's customer support is nonexistent, and traders have reported difficulty withdrawing their funds. Additionally, TP Global FX does not provide any documents for filing taxes.

_{Negative reviews around TP Global FX}

Why Is TP Global FX Called A Scam?

Hidden Fees and Unfair Practices:

Traders recount unfair practices, such as exorbitant fees incurred during overnight stock index trading, coupled with unclear interest deduction terms. The lack of transparency raises concerns about TP Global FX's commitment to fair trading practices.

Sluggish Gold Withdrawals:

Complaints abound regarding TP Global FX's sluggish gold withdrawal process. The prolonged waiting period for funds has left investors uneasy and questioning the legitimacy of the platform's operations.

Alleged Ponzi Scheme and Fraudulent Trading:

Some users categorize TP Global FX as a 100% Ponzi scam trading platform, particularly targeting traders in Sri Lanka. The platform is accused of failing to honor financial commitments, painting a grim picture of its credibility and trustworthiness.

Repetitive Email Responses:

Investors face a distressing wait for TP Global FX withdrawals, met with generic and repetitive email responses. This prolonged processing, coupled with suspicions of dubious practices, questions the platform's integrity. 

Bottom Line

Choosing a broker demands scrutiny. While offshore registration alone doesn't denote a scam, brokers like TP Global FX, unregulated, offshore, and traders allegation pose risks. BrokersView recommends opting for FCA- or ASIC-regulated platforms to safeguard investments and ensure reliable trading environments.