Thinking of getting into business with TDX Markets? Here is what you must know about this broker. Carefully read this review to find out if tdxmarkets.com is the trading platform you will want to trade with.
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About TDX Markets Broker
TDX Markets is an offshore brokerage company with a lot of promises for traders. The broker is a brand of TDX Markets LLC with the registered address showing St Vincent and the Grenadines.
TDX Markets claims to have its headquarters in UK.
There are different account types TDX Markets offers. See below.
In spite the trading instruments TDX Markets claims to offer, traders must know they are dealing with an unknown broker which does not have the Financial Conduct Authority, UK regulation over its activities.
tdxmarkets.com: Reasons to Avoid This Broker
Firstly, tdxmarkets.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit because local financial authority, SVGFSA does not monitors or give license to forex brokers.
Secondly, we noticed tdxmarkets.com has no demo account for traders. Since traders can’t test TDX Markets on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
Lastly, the broker fails to provide us with legal documents on the platform.
These are red flags for forex traders to avoid losing money with a scam broker.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, TDX Markets does not specify what fee forex traders will be charged for any withdrawal. Aside that, legal documents of this broker are missing on the platform.
Minimum Deposit
TDX Markets minimum deposit is said to be $500.
As for the payment methods, we can make payment via Credit/ Debit card and Bank Wire Transfer. However, you should not consider making any payment with this broker because it is a risk. So beware!
TDX Markets Platform
TDX Markets offers MT4 or MT5 (Industry standard trading platform), however, that doesn’t make the broker legit because any scam broker can do the same to lure forex traders.
As for the leverage, it can get up to 1: 500. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
TDX Markets Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Conclusion: Is tdxmarkets.com a Reliable Broker?
No, tdxmarkets.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.