In this series of broker reviews, we’ll take an in-depth look at one of the most popular yet controversial online trading platforms, TP Global FX.
With so much happening in the forex world, keeping up with the latest trends and developments can be challenging. That’s where we come in – our expert analysts have spent countless hours poring over the data to bring you the most up-to-date insights and analysis.
In this TP Global FX Review 2023, we’ll take a close look at everything the broker has to offer, from its trading platform and user interface to its range of features and trading tools. We’ll also examine the broker’s fees and regulations, as well as its customer support and educational resources.
So if you’re looking to stay on top of the world of Forex trading, be sure to bookmark our blog and check back often for more updates.
TP Global FX Review 2023: Quick Overview
| Official Website | https://tpglobalfx.com/ |
| Founded | 2017 |
| Headquarters | Dubai |
| Regulated | Vanuatu Financial Services Commission (VFSC) |
| Available Financial Instruments | Forex, Metals, CFDs, Indices, Stocks |
| Minimum Deposit | $50 |
| Islamic Accounts | Available |
| Demo Account | Available |
| Maximum Leverage | 09:20 |
| Trading Platforms | MT4 & MT5 |
| Trading Fees | Varies depending on account type. |
| Inactivity Fees | None |
| Customer Support | 24/5 |
| Withdrawal Fees | Varies |
Is TP Global FX A Scam? Must-Read Before Trade
Established in 2017, TP Global is a Forex and CFD broker based in Saint Vincent and Grenadines. With headquarters in Dubai, the broker has several offices in Mauritius, Cyprus, Armenia, Nigeria, and Vanuatu.
TP Global claims to be the most trusted forex broker in the market. As a platform user, I dug deep to find it before starting with it. Despite being an offshore broker based in Vincent and the Grenadines, TP Global FX is well-regulated by the Vanuatu Financial Services Commission (VFSC).
Meanwhile, the platform has also won the title ‘Most Transparent Global Broker’ at the Forex Expo 2021, which says a lot about its legitimacy. At the same time, the platform also implements robust security measures, which I personally think are above industry standards.
Another factor that adds to its legitimacy is the majority of positive reviews from its users. Additionally, I didn’t find any scam-related complaints. Henceforth, TP Global is a safe fx brokerage to trade with.
TP Global FX Review: Pros And Cons
While using the brokerage platform, I encountered various appreciable features. At the same time, there are some drawbacks that can’t be ignored. So, I listed out a few pros and cons of the broker so that you can get a clear idea of whether it’s a good fit or not.
Pros
- Security is at the top of everything.
- Low minimum deposit requirements & charge-free withdrawals are the platform’s USPs.
- A wealth of educational material is available on the platform.
- The broker offers great deals, offers and bonuses to the clients.
Cons
- It is limited to only five countries.
- Has a high withdrawal amount.
- The interface could be improved.
How Much Does It Cost To Trade On TP Global FX?
There is no fee for trading on the platform. However, you may incur a commission charge (As I did), which typically depends on the trade size and the account type.
| Account Type | Spreads | Commission |
| Standard | 1.2 pips | N/A |
| Pro | 0.2 pips | $8 per lot |
| Institutional/VIP | 0.2 pips | $15 per lot |
As an experienced Forex trader, I feel the spread charges of the platform are low and competitive, but the high commission charges disappoint me. So, I think trading on commission-free platforms like InvestFW is a good idea rather than paying higher commission charges.
Tp Global FX Review 2023: Deposit Methods & Minimum Requirements
The best part of trading with TP Global is its low initial deposit requirement, which is just $50. Additionally, the broker doesn’t charge any fee for depositing funds. The platform also accepts crypto deposits.
Available deposit methods include
- Wire Transfer
- Bank Transfer
- Crypto Deposits (Bitcoin, Tether)
How Can You Withdraw Funds?
The biggest drawback of the platform remains its high withdrawal limits, which are set at $1,000. Withdrawals of less than this amount are subject to a fee. The withdrawal requests in crypto transactions may take up to 12-24 hours, while bank transfers are expected to process in 6 working days.
To withdraw funds from your account, click on the ‘Withdraw’ icon, select the transaction type and follow the on-screen instructions.
What Can Be Traded On TP Global FX?
In my search for the best forex brokers, I found TP Global to be the best fit for the title. And the primary reason behind it will remain its range of product offerings. You can single-handedly manage trading in different markets from one place.
The available market instruments on the platform include:
Forex
With the broker, you can trade forex with various currency pairs to suit your preferences. The available forex pairs include all major pairs, such as GBP/USD, EUR/USD, USD/CAD, USD/JPY, USD/CHF, NZD/USD, and AUD/USD.
It also offers a long list of minor pairs like AUD/CAD, AUD/NZD, CAD/CHF, EUR/AUD, EUR/GBP, AUD/JPY, GBP/CAD, NZD/CAD, EUR/TRY, GBP/SGD, GBP/NZD, USD/ZAR, and more.
Commodities
The platform offers a wide selection of commodities, including soft and hard. Also, you can trade precious metals such as gold, silver, and copper.
Indices
Stock indices represent the market value of a particular stock market segment. TP Global FX offers a long list of the world’s largest stock indexes, including AUD 200, US 30, HKIND, JAP 225, US 50, SGXSING, SUI 20, TECH 30, US 2000, SGXTAI, FRA 40, CHNIND, and more.
TP Global FX Account Types
The broker primarily offers three account types to traders. These accounts suit both beginners and experienced traders. Below, I have listed the features, minimum deposit requirements, spreads, margin requirements, and maximum leverage of each account type.
| Standard Account | Pro Account | Institutional Account | |
| Minimum Deposits | $50 | $500 | $25,000 |
| Spreads | 1.2 Pips | 0.2 Pips | 0.2 Pips |
| Maximum Leverage | 1:500 | 1:500 | 1:200 |
| Commission | $0 | $15 Per Lot | $8 Per Lot |
| Swap Free/Islamic | Available | Available | Available |
| Margin Call | 100% | 100% | 100% |
| Stop-Out Level | 40% | 40% | 40% |
Demo Account
TP Global’s demo account is probably the best I have used. The interface was much the same as the real trading account. The trading conditions were great, and so was my experience.
TP Global FX Review: Account Opening Process
TP Global FX account opening process is much like other forex brokers (as I found). All the features and easy-to-understood user interface make the account opening procedure even more convenient.
- Step 1: Visit the official webpage and click on the Register icon.
- Step 2: Now, enter your details, such as first name, last name, e-mail, country, city, and phone number, and click on the ‘Create Account’ icon.
- Step 3:Following that, upload your documents for verification and choose the account type.
- Step 4: Once the verification process is completed, you can start trading on the platform by entering the TP Global login credentials.
TP Global FX Review 2023: Ongoing Contests, Bonuses & Promotions
TP Global introduces new offers and bonuses from time to time. So, let me introduce you to the ongoing contests on the platform.
Traders Contest
The company recently concluded the Dubai Forex Expo competitions, in which winners won trips, iPhones, and other prizes.
Partnership Program
TP Global’s (IB) program rewards businesses and individuals globally for introducing new customers to the brokerage firm. Each TP Global services limited IB is given an account manager to help them expand their business and ensure they get the best support.
Welcome Bonus
The welcome bonus at TP Global FX entitles you to a few initial advantages. It also offers a well-known deposit bonus, which rewards players for making certain deposits into their trading accounts.
TP Global FX Review 2023: Available Trading Platforms
The user interface of the brokerage is appreciable as it offers both MT4 and MT5 platforms. There is no dearth of advanced trading tools. These platforms can be used on web-based versions and downloaded on smartphones.
MetaTrader4
MT4 is probably the best trading platform, not just for me but for thousands of traders using it. The platform’s advanced trading tools and simple user interface are the points of attraction. Here are some of the features of the MT4 platform that I found interesting to be posted:
- 21+ timeframes
- Economic calendar
- 80+ technical indicators
- In-Depth Market data
MetaTrader5
MT5 is an advanced version of MetaTrader4 and is designed keeping in mind the needs of professional traders. The advanced features of this platform are worth noting, including trading signals and bots for automated trading.
- 21+ timeframes
- Economic calendar
- 80+ technical indicators
- In-Depth Market data
- 23+ analytical objects
- TP Global FX automation trading
- Trading history
- MQL5 programming language
- 2,500 + algorithmic trading applications
- Three execution modes
- Four pending order types
Mobile Application
The forex broker offers an advanced FX app for on-the-go traders like many of us these days. The tools and interface offered by the TP Global FX app are exactly the same as the web-based platform.
- Trading history
- Three execution modes
- Four pending order types
- 21+ timeframes
- Economic calendar
- 80+ technical indicators
- In-Depth Market data
- 23+ analytical objects
TP Global FX Review 2023: Educational And Research Resources
As many brokerage platforms fail to provide educational support to their users, TP Global FX offers extensive educational materials. Before starting to trade, it would be helpful if you read the interactive articles, videos, and blogs available on the website.
The platform’s research support is the next thing I found o be most useful as a trader. The platform offers a long list of trading tools for research, including pip, margin, Fibonacci, pivot, and profit calculators. An economic calendar is also available.
TP Global FX Review 2023: Customer Support
The broker offers 24/5 customer service. Although it is a good platform, customer support is average. The waiting time for clients may take a long time to process.
However, traders can get a quick response to their general queries through the FAQ section. Here are the contact details of TP Global FX:
- Email: [email protected]
- Telephone: +44 – 7441 416320
TP Global FX Reviews & Ratings
The platform has a good reputation among its existing users, with the majority of them satisfied with the services. It has a rating of 4.4/5 on Trustpilot, which is considered good enough for a trading platform. Talking about Tp Global Fx ranking, it is among the world’s top forex and CFD brokers.
Final Words On TP Global FX Review 2023
In conclusion, our TP Global FX Review 2023 has provided a comprehensive overview of this forex broker’s offerings, including their trading platform, account types, trading instruments, and customer support.
With a focus on transparency and low fees, TP Global has positioned itself as a competitive choice in the crowded forex market. However, it is important to note that trading forex carries risks, and potential traders should carefully consider their risk appetite and seek professional guidance before committing to any trading platform.
Overall, TP Global FX is a solid choice for traders seeking a reliable and transparent forex broker with a range of features and low fees. However, high commission charges are still the biggest drawback of the platform. So, if you want to save on commission charges, I have a better forex broker alternative – InvestFW. The platform has zero commission charges with an industry-best fee structure.
FAQs
Is TP Global Safe?
Being one of the top online forex brokers offering multiple trading experiences and the best services with automated tools which enable seamless forex trading. The broker has also won the title of “Most Transparent Global Broker at the Forex Expo 2021, so it is a safe broker.
Is TP Global legal in India?
The broker is not registered with the Reserve Bank of India, but the traders can trade with the broker.
What is the deposit fee for TP Global?
There are no deposit fees for TP Global, and traders can simply deposit their investments by meeting the minimum deposit requirements. The multiple modes of deposits are Bank wires, E-wallets, cryptos and debit and credit cards.
What is the minimum deposit for TP Global?
The broker has no deposit fee, and there are different transactions
The minimum deposit amount at TP Global FX is $50. There are no deposit fees, but transactions can only be made through Tether, Bitcoin, or bank transfer. If you deposit with Bitcoin or Tether, you can only withdraw the money in the same way.
What are the withdrawal problems in TP Global forex?
While analysing the different user experiences, we found out that the withdrawal procedure for TP Global is a disaster. People are not able to withdraw funds easily, and seeking customer support at that time is also tough. Multiple chances of delayed withdrawals and no customer support were found.
What are the different account types in TP Global FX?
TP Global FX offers three different account types to its traders as Standard, PRO and Institutional accounts. Also, the traders can seek advantages from the free demo accounts to polish their investment skills.
