| 💰 Leverage | 1:500 |
| ⚖️ Regulation | Unregulated |
| 🗺️ Headquarters | UK |
| 💳 Minimum Deposit | N/A |
| 🛍️ Review Rating | 1/5 |
| 🛍️ Broker Type | Forex |
| 🖥️ Platforms | MT4 |
TixForex is an extremely shady broker with a mess of a website: unappealing visuals, false claims, lack of essential information, broken or missing sub-sections, lack of legal documents, and so on.
We have reasonable doubt that we might be dealing with a scam broker and ask you to read the following lines before investing any money.
Is TixForex legit?
No, the broker isn’t legit. Although it claims to be based in the UK, it’s not regulated in the country, nor anywhere else for that matter. If you are looking for a reliable British brokerage, please consider picking such from our list of financial services providers that are indeed authorized to operate in the country.
We diligently checked in the online register of the UK financial regulator, the FCA, but found no mention of TixForex there, which is a cause for major concern. Because if they really do operate in the UK and target local investors, it’s only a matter of time that they get under the radar of the British financial watchdog.
As regards TixForex’s claims of being licensed by FinCEN, the United States Treasury Department regulator, we should clarify that this certificate is useless in the face of the forex industry, so we won’t even bother to check whether the broker really holds such a certificate.
FinCEN stands for Financial Crimes Enforcement Network its main purpose is to counterfeit money laundering and other financial crimes. Meanwhile, forex and CFD brokers like TixForex should be licensed by the U.S. Commodity Futures Trading Commission (CFTC) and also be members of the NFA.
As you can see, TixForex provides corporate and licensing information that is misleading in an apparent attempt to present itself as a legitimate business. Under no circumstances should you trust your money with such shady websites full of false and misleading information. Instead, you can turn to one of the many companies that really work under the supervision of respected regulatory bodies like the FCA or let’s say the Cyprus Securities and Exchange Commission (CySEC).
As their customer, you will enjoy a number of benefits including negative balance protection and a guarantee for your funds if the broker goes bankrupt, which goes up to EUR 20,000 in the EU and 85,000 GBP in the UK. Regulations in the UK and EU also include other measures designed to improve investor protection and promote market integrity and transparency, such as client account segregation, transaction reporting, and more.
Can I turn a profit with TixForex?
You may only lose money with a shady unregulated website TixForex. Those who provide a real opportunity for profitable trades are the legitimate brokers, so here you may take a look at a list of companies authorized to operate in the European Union.
What platform does TixForex use?
It came as quite a surprise that TixForex provides access to a fully functioning MetaTrader4. As this is not a legit broker, however, we would better suggest that you check our extensive list of legit MT4 brokers.
Otherwise, MetaTrader4 is really a great platform, which still dominates the forex industry some 15 years after it was launched by MetaQuotes. The MT4 comes with excellent charting tools, an extensive library of customizable market indicators, and trading bots called Expert Advisors.
What are the spreads at TixForex?
As tested via a demo account, the broker offers spreads as low as 0.1 pips on EUR/USD. Moreover, trades aren’t commissioned. This is simply too good to be true, and we suspect that either the broker somehow manipulates the platform, or live account holders are offered different spreads or charged with commission fees.
While testing their MT4, we figured that the broker provides leverage of up to 1:500, which is a pretty high ratio. If you wish to use levels that high, you’d better check out some trusted brokers who also offer such, instead of risking it with a scammer like TixForex.
What is the minimum deposit at TixForex?
The broker fails to specify these on their webpage. Usually, it’s around $250.
What payment methods does TixForex use?
TixForex mentions nothing about deposit and withdrawal methods either. There isn’t even an indication about such an important matter.
If you want a piece of advice, use cards like Visa and MasterCard to fund your online trading accounts. These major card providers allow chargebacks within 540 days from the date of deposit to those who have fallen victim to a scam.
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