TMS Brokers Review 2023
- DayTrading Review Team
TMS Brokers is a good pick for investors seeking commission-free trading, especially on a wide selection of stocks. The rich education center and zero minimum deposit will appeal to newer traders, in particular.
TMS Brokers is a leading European brokerage that offers affordable leveraged trading on forex, indices, stocks, ETFs, commodities and crypto through the popular MetaTrader 5 as well as a proprietary platform. The award-winning brand has over 20 years in the financial markets with modern trading tools and rich market analysis.
42 forex pairs can be traded with a maximum 1:20 leverage. Traders benefit from zero-commission trading and average spreads starting from 1 pip.
Speculate on a very wide range of stocks on Polish, US, German, UK, Spanish, Dutch, French, Belgian, Danish, Swedish, Portuguese and Finnish exchanges.
Trade CFDs on assets including stocks, indices and commodities with variable spreads and reliable trading platforms.
18 cryptocurrency CFDs are available, including Bitcoin, Ethereum and various altcoins, with maximum 1:2 leverage.
- Best FX Broker 2020 - Invest Cuffs
- Forecast Accuracy Ranking Q1 2019 - Bloomberg
- Regulated by Poland's KNF and a member of the Polish Compensation Scheme
- Choice of MetaTrader 5 or proprietary platform
- Transparent fees with spreads from 1 pip
- Pro account with perks
- Demo account available
- Award-winning brand
- Low leverage of 1:20
- Average list of assets
- Limited support for non-Polish speakers
TMS Brokers is an award-winning Polish broker with offices across Europe. They offer trading on a range of markets including forex, indices, commodities and cryptocurrencies, via the TMS Smart Trading app or MT5 platform. In this article we review TMS Brokers’ app, demo account, spreads and more.
TMS Brokers Details
TMS Brokers S.A. is a Polish brokerage established over 20 years ago. It is regulated by the Polish Financial Supervision Authority and provides services to over 9,000 investors.
As of 2015, an associated company called TMS Brokers’ Europe Limited (Ltd) also existed in Malta. However, this company has now been dissolved and TMS Brokers S.A. supplies customers across Europe, with offices in Poland, Latvia, Russia, Spain and Lithuania. A deal was struck in September 2020 for Canadian firm Oanda to acquire TMS Brokers S.A.
The brokerage offer the latest version of the MetaTrader platform, MT5, which allows customers to trade multiple assets from their web browser, tablet or smartphone. The industry recognised MT5 is the successor to the popular MT4 trading platform, offering additional technical analysis and programming functionality.
MT5 offers three customisable chart types, with 21 timescale options (ranging from a minute to a month) and over 80 analytical tools, enabling advanced technical analysis of markets. Colour schemes and analytical objects applied to graphs can be saved as chart templates.
MT5 also offers automated trading capability using trading robots known as ‘Expert Advisors’. These robots can analyse quotes or execute trades on forex and exchange markets. Users can develop their own Expert Advisors using the MQL5 coding language, download free algorithms from the MQL5 codebase, or order paid-for custom robots from professional programmers.
TMS Smart Trading Platform
TMS Brokers also offers their proprietary TMS SmartTrader platform, which is accessed via a mobile app. From this, traders can access the entire spectrum of TMS investments, in addition to economic news. Customers can analyse markets through 6 types of interactive charts, with timescales from a minute to a day, and 12 indicator types to select from.
TMS Brokers offers trading across a range of instruments:
- 18 indices
- 42 currency pairs
- 123 stocks across US, German, UK, Spanish and Polish markets
- 19 commodities including gold, silver and crude oil
- 5 cryptocurrency CFDs based on future contracts including Bitcoin, Ethereum and Ripple
- 40+ ETF contracts with shares from markets such as healthcare, raw materials or the biotechnology sector
Customers should note that TMS Brokers predominantly operates as a market maker.
Spreads & Commission
The brokerage offers reasonable spreads, especially considering that there is no minimum deposit. A comparison of TMS Brokers vs competitor XTB showed that both brokers offer a spread of 1 pip for EUR/USD.
The company is transparent regarding current and historic spreads for all instruments traded using the TMS Connect account. From the asset list on their website, customers can open interactive charts showing up to 1 month of spread history offered by TMS Brokers, in addition to 6 months of price history for the market they are interested in.
The company does not charge a commission fee on currencies, indices, commodities or cryptocurrencies for Connect accounts. Commission starting from 5USD is applied to stocks.
Note, a commission fee is applied to some market types for professional accounts, so customers should check the professional fees and commissions table on the broker’s website for specific details.
The leverage available to customers varies depending on the instrument:
- Up to 1:20 leverage for forex, indices and commodities
- Up to 1:2 leverage for cryptocurrencies
- Up to 1:5 leverage for stocks
Leverage allows customers to increase their position for a given outlay, although they aren’t particularly generous and sit below the limits imposed by the Polish Financial Supervision Authority. However, customers should be aware of the risks involved in using leverage, which can result in higher losses as well as increased returns.
TMS Brokers has its own Android and iOS compatible Smart Trading mobile app, which is highly rated and available to download from the App Store and Google Play. Traders are able to analyse and trade on all TMS markets, as well as access information on which markets are hottest, based on other traders’ activity. The app is responsive, intuitive and allows for customisable dashboards.
Additionally, the MT5 platform offers an app where users can execute trades and perform market analysis on the go. Clients are also able to set up trade alerts via email or push notifications on the app, which is designed for smartphone and tablet use. The integrated chat forum lets users connect with the trading community to share strategies and insights.
TMS Brokers offer deposits via credit and debit card (Visa and Mastercard) and bank transfer.
Credit and debit card deposits are usually instant, but a deposit limit of 15,000 EUR applies.
Trustly can be used for instant bank transfers and supports major banks in Estonia, Finland, Spain, Poland, Sweden and Denmark. Deposits should be instantly credited to trading accounts, but can take up to one working day in some cases. Funds can also be deposited by regular bank transfer using banks in the Single Euro Payments Area (a list of member states can be found on the SEPA website). Deposits take between one and three working days using this method.
TMS does not charge any fees for these deposit services, although fees may apply for bank transfers. All methods require deposits to be in Euros, otherwise conversion costs may apply.
While there are no minimum deposit requirements, TMS Brokers recommends that clients deposit at least 100 EUR to avoid the 20 EUR fee charged for withdrawals below 100 EUR.
Clients have the option to open a demo account via the SmartTrader mobile platform, where they can practice trading with 50,000 EUR in virtual funds. This account provides all the functionality of a live account, in addition to a starter training package with five short lessons. These include details of how to set up your dashboard, open your first trade and close or modify a trade.
TMS Brokers Bonuses
TMS Brokers does not currently have any promotions or sign-up deals in place. However, previously they have offered promotions where customers could double their trading profits, or receive 20 EUR trading credit in exchange for phone number verification. Customers should therefore look out for promotions on TMS Brokers’ website.
TMS Brokers is regulated by the Polish Financial Supervision Authority (KNF). Additionally, the company participates in the Polish Compensation Scheme (KDPW), which ensures protection of customers’ assets in the case where TMS Brokers declare bankruptcy. The scheme covers 100% of clients’ funds up to 3,000 EUR, and 90% of funds up to 22,000 EUR.
TMS Brokers provide additional protection with negative balance protection, which prevents clients losses exceeding their balance. Customers should be aware that their entire capital is still at risk, however.
Further details of TMS Brokers’ company status can be found on the Polish National Court Register, KRS number 0000204776, NIP 5184.108.40.206.
TMS Brokers has a website section dedicated to education, offering free eBooks and webinars on topics such as trading strategies and specific markets. Videos are also available on the broker’s YouTube Channel. However, English language resources are very limited, with only two eBook offerings.
TMS Non Stop is a financial news source available on the company website and SmartTrader app. A live feed provides blog entries for a range of markets as well as an economic calendar that provides financial updates affecting forex, indices and commodities.
TMS Brokers offers the Connect account to retail clients, and Connect Professional account to professional clients. The standard Connect account offers full market access, no minimum deposits and competitive floating spreads.
To be eligible for the professional account, traders must meet at least two of the following criteria:
- Total assets of the entrepreneur amount to at least 20,000,000 EUR
- Revenues from sales achieved by the entrepreneur amount to at least 40,000,000 EUR
- Equity or own funds of the entrepreneur amount to at least 2,000,000 EUR
Professional accounts come with different margin rates and minimum trade volumes, but have a lower level of protection. Clients should refer to the relevant Financial Instruments Specification and Table of Fees and Commission documents for details of each, as fees, rates and volumes vary between markets.
There are several advantages to trading with TMS Brokers:
- Regulated by the KNF and a part of the Polish Compensation Scheme
- Transparent with current and historic spread details for Connect accounts
- Access to the latest MetaTrader platform, MT5
There are a few drawbacks associated with the brokerage:
- Financial education tools are very limited for English speaking customers
- Connect Professional account fees and rates are not as transparent
- Low leverage levels
Forex trading hours are 24/5, however other market hours vary. TMS Brokers provides details of trading hours for every available asset on the ‘Where to Invest’ section of their website.
TMS Brokers has a Facebook messenger chat option embedded on their website, where customers can contact the customer service team using their Facebook login or as a guest. In addition, a telephone number and email address are provided for each office:
- International / Poland: +48 222 766 200
- Lithuania: +370 5 203 4495
- Latvia: +371 66 334 410
- Russia: +371 66 334 410
- Spain: +34 911 12 00 29
- International: firstname.lastname@example.org
- Lithuania: email@example.com
- Latvia: firstname.lastname@example.org
- Russia: email@example.com
- Spain: firstname.lastname@example.org
TMS Brokers’ registered address is ul. Złota 59, 00-120 Warsaw.
TMS Brokers confirms that personal data is collected in accordance with GDPR. We were also reassured to find that TMS only works with PCI-DSS Level 1 certified service providers, which is the highest level of compliance for companies that process credit card data.
TMS Brokers Verdict
TMS Brokers is a regulated provider, offering decent spreads, no minimum deposit and zero commission fees on forex, commodities, cryptocurrencies and indices with the Connect account. Customers can trade through the industry-leading MT5 platform or the highly-rated SmartTrader app. Leverage offerings aren’t particularly high but TMS Brokers offers a decent standard of security and is part of the Polish Compensation Scheme.
TMS Brokers accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use TMS Brokers from United States.
TMS Brokers Details
|Minimum Trade||0.01 Lots|
|Regulated By||Polish Financial Supervision Authority (KNF)|
|AI / Machine Learning||No|
|Negative Balance Protection||No|
|Guaranteed Stop Loss||No|
CFD Trading Details
Forex Trading Details
Cryptocurrency Trading Details
|Crypto Auto Market Maker||No|
Compare TMS Brokers
Compare TMS Brokers with similar brokers that accept traders from your location. Among available brokers these are the most similar to TMS Brokers:
IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
Go to IG Group
World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
Go to World Forex
Just2Trade – Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
Go to Just2Trade
TMS Brokers Comparison Table
|TMS Brokers||IG Group||World Forex||Just2Trade|
|Markets||Forex, CFDs, indices, shares, commodities, cryptocurrencies, ETFs||CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting||Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts||Stocks, ADRs, ETFs, Futures, Options, Commodities, Bonds|
|Minimum Trade||0.01 Lots||0.01 Lots||0.01 Lots||0.01 Lots|
|Regulators||Polish Financial Supervision Authority (KNF)||FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA||SVGFSA||CySEC, NFA, FINRA, Bank of Russia|
|Bonus||–||–||100% Deposit Bonus||Up to $2,000 for professional accounts|
|Platforms||MT5||MT4, AutoChartist, TradingCentral||MT4, MT5||MT4, MT5, TradingCentral|
|Leverage||1:20||1:30 (Retail), 1:250 (Pro)||1:1000||1:20|
Compare Trading Instruments
Compare the markets and instruments offered by TMS Brokers and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
|TMS Brokers||IG Group||World Forex||Just2Trade|
TMS Brokers vs Other Brokers
Compare TMS Brokers with any other broker by selecting the other broker below.
Where is TMS Brokers regulated?
TMS Brokers is regulated by the Polish Financial Supervision Authority (KNF) under KPWiG-4021-54-1 / 2004. They also participate in the Polish Compensation Scheme (KDPW).
Are TMS Brokers on social media?
Yes, TMS Brokers have Facebook (TMSBrokersCOM) and Instagram (@tmsbrokers) accounts, with the Facebook account providing regular economic updates.
Do TMS Brokers offer a demo account?
TMS Brokers offer a demo account with 50,000 EUR of virtual funds, which can be accessed via their SmartTrader app.
What leverage do TMS Brokers offer?
TMS Brokers offer up to 1:20 leverage on forex, indices and commodities, up to 1:5 leverage on stocks, and up to 1:2 leverage on cryptocurrencies.
How much capital do I need to trade with TMS Brokers?
There are no minimum deposit requirements to trade with TMS Brokers. However, they recommended a minimum deposit of 100 EUR to avoid the fee charged for withdrawals below 100 EUR.
|TMS Brokers is a leading European brokerage that offers affordable leveraged trading on forex, indices, stocks, ETFs, commodities and crypto through the popular MetaTrader 5 as well as a proprietary platform. The award-winning brand has over 20 years in the financial markets with modern trading tools and rich market analysis.|