Thinking of getting into business with Tudofx? Here is what you must know about this broker. Carefully read this review to find out if tudofx.com is the trading platform you will want to trade with.
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About Tudofx
Tudofx is an offshore brokerage company with a lot of promises for traders. The address of the broker is missing on its webpage. To begin with, this is a red flag that reminds us of similar fraudulent scheme of scam brokers.
There are different account types the broker offers.
The broker claims to be governed in accordance with the laws of Saint Vincent and the Grenadines.
Added, it trades on the following instruments like forex, stocks, commodities, crypto, bonds and indices.
To clarify, regardless of the trading instruments Tudofx claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
tudofx.com: Reasons to Avoid This Broker
Firstly, tudofx.com is a platform with no financial authority overseeing its financial services. We discover the broker is not worth your money because brokers claiming to be regulated in the island — Saint Vincent and the Grenadines should already know this. FSASVG does not monitor, regulate or license brokers.
Secondly, we noticed tudofx.com has no demo account for traders. Since traders can’t test the broker 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.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Withdrawal and Deposit
Withdrawal process
Tudofx withdrawal process takes 7 business days with a 5% withdrawal fee on any withdrawal request.
As for an inactive account longer than 90 days, the broker charges 10% on each month.
Minimum Deposit
Tudofx minimum deposit is pegged $250 according to the account type.
As for the payment methods, the broker accepts cryptocurrencies and some unpopular methods —Ted, Pix and Boleto. Truly, you should not consider making any payment with this broker because it is a risk. So beware!
Tudofx Platform
Tudofx offers MT4 (Industry standard trading platform), however, the option of this platform doesn’t make the broker legit because any scam broker can do the same to lure forex traders.
As for the leverage, the broker discusses 1:100. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Tudofx 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 which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Licensed in Australia(ASIC) and Cyprus(Cysec)
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Conclusion: Is tudofx.com a Reliable Broker?
No, tudofx.com is not 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.
We owe our readers the duty to fish out scam forex brokers as well as share reasons to avoid fraudulent schemes. Meanwhile, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
Please beware of scammers, this people are everywhere, They will want you to invest where you can never get your money back I invested £48,350 with a scam broker and never got my money back and they kept asking for more before I can be allowed to make any withdrawal which I couldn’t meet up with their demands, so they never got back to me anymore and i was so desperately in need of help to get back my money, fortunately I came across a colleague that introduced me to a binary options trade funds recovery expert who goes by the name Mr Wilfred Scott when i met them i did not believe that they could get back my money because i have been scammed a lot already and didn’t know what to do, but my spirit told me to give it a try and i did, feel free to contact them via their email address: [email protected] and they will help you to recover all your lost investment that was denied from you by your scam broker.