TP Global FX Review and Tutorial 2021
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|TP Global FX Facts & Figures|
TP Global FX offers a long list of popular financial assets with spreads from 0.1 pips.
|Instruments||Forex, CFDs, indices, commodities|
|Pay Methods||Bitcoin Payments, Wire Transfer|
|Min. Trade||0.01 lots|
|Regulated By||SVG FSA, NFA, CAMA Nigeria|
|Start trading on the financial markets with up to 1:500 leverage using competitive CFDs.|
|FTSE Spread||Not offered|
|GBPUSD Spread||From 0.1|
|Oil Spread||From 0.1|
|Stocks Spread||From 0.1|
Ultra tight spreads from 0.1 pips are available on major, minor and exotic forex pairs.
|GBPUSD Spread||From 0.1|
|EURUSD Spread||From 0.1|
|EURGBP Spread||From 0.1|
TP Global FX is a forex and CFD brokerage, headquartered in Saint Vincent & the Grenadines. The broker has a lot to offer, with over 150 instruments to trade with, true STP pricing and a wealth of educational resources. Our review will assess the online trading provider, helping you decide whether to open a TP Global FX account.
TP Global FX Headlines
TP Global FX was founded in 2018 in Sydney, Australia. The company has offices in St Vincent and the Grenadines and Nigeria. They are registered with the SVGFSA, NFA, and by the Federal Republic of Nigeria under CAMA 1990.
They aim to revolutionise the forex market with innovative investment technology and a choice of downloadable trading platforms. The brokerage also offers a bespoke copy trading service.
The MT4 cabinet is suitable for traders of all skill levels. It is the platform of choice for most brokers, with millions of traders using the service.
MT4 contains a range of innovative tools, including:
- Trading history
- 3 execution modes
- 23 analytical objects
- 4 pending order types
- 30 technical indicators
- Customisable charting features
- 9 time-frames, from one minute to a month
MT5 is a comprehensive multi-asset trading platform, aimed at skilled traders. Offering more advanced trading tools than its predecessor, it is a powerful online investing solution:
- 21 timeframes
- Economic calendar
- Depth of Market data
- 80 technical indicators
- MQL5 programming language
- 2,500 + algorithmic trading applications
- Additional pending orders and execution types
Note, both the MT4 and MT5 trading platforms can be downloaded from the broker’s website.
TP Global FX offers a range of trading instruments:
- Metals – Gold, silver and platinum
- Commodities – Oil, cocoa, cotton, coffee and sugar
- Indices – Most major indices including Dow Jones, Nasdaq and Dax
- Forex – USD, EUR, GBP pairs along with minor and emerging currencies
- Stocks – Variety of global shares including major players like Apple, Amazon, Tesla and Facebook
Unfortunately, cryptocurrencies such as Bitcoin are not available. Live quotes can be found on the TP Global FX website, a useful feature.
Spreads & Commission
Spreads at TP Global FX are tight, particularly on the Pro and VIP accounts. That said, the commission is higher than the industry standard. Both spreads and commissions vary across accounts:
- Standard – All fees are included in spreads with the standard account. Typical spreads on major pairs are between 0.1 and 1 pips
- Pro – Very tight spreads, between 0.1 and 0.5 pips on major pairs. Commission is higher than most competitors at $15 per lot
- VIP – Spreads on the VIP account are also low, from 0.1, commission is $8 per lot
As a broker regulated outside the EU, high leverage is available at TP Global FX. Rates vary depending on the account type:
- Standard – Forex and CFD leverage up to 1:500
- Pro – Forex and CFD leverage up to 1:500
- VIP – Forex and CFD leverage up to 1:200
High leverage can mean huge profits but equally could lead to great losses – make sure to use stops and losses.
TP Global FX utilises the MT4 and MT5 platforms which both support mobile devices. There are a wealth of tutorials on the MetaQuotes applications online.
The mobile apps are fully featured and easy to navigate. 24/5 customer support, including a live chat function, is readily available to assist with technical issues. Mobile traders can make deposits and withdrawals, claim promos and access the full range of TP Global FX instruments.
Deposits & Withdrawals
The minimum deposit requirement is $200. There are no deposit fees but transactions can only be made via:
- Bank transfer
If you deposit with Bitcoin or Tether, the money can only be withdrawn the same way. Wire transfer deposits can be withdrawn via bank transfer, Bitcoin and Tether. There are no Bitcoin or Tether withdrawal fees. Bank transfers require a minimum withdrawal of $1,000, payments under that threshold incur a charge.
Weekday Bitcoin and Tether transfers take between 12 and 24 hours to process, whilst international bank transfers can take 5 to 6 working days.
The TP Global FX demo account enables users to trade in simulated market conditions. The account is aimed at beginners, teaching the user to read charts, open and close positions, and trade safely in real-time conditions. You can set your own leverage levels and benefit from £1,000,000 in virtual funds. A short registration form needs to be completed online before you can start trading.
TP Global FX Bonuses
There were no promotional deals or deposit bonuses available on the TP Global FX website at the time of this review. Check the broker’s website for upcoming deals before opening an account.
TP Global Services Limited is registered offshore by the SVG FSA, in St. Vincent and the Grenadines. SVG FSA isn’t recognised globally as a strong financial regulator and offers limited oversight. TP Global FX Africa Limited is registered in the Federal Republic of Nigeria, operating under the Companies and Allied Matters Act 1990.
There isn’t currently any client account segregation or negative balance protection. The lack of top-tier regulation coupled with insufficient protective measures doesn’t inspire trust.
Note, the broker is legal and accessible to traders in India.
Education is at the core of the TP Global FX philosophy: Educate, Execute, Earn. The website features a blog that is home to daily technical analysis reports and regular market news. An economic calendar and forex calculator are both available, aiding forex trading. Webinars, educational videos and online mentors will soon be made available on the TP Global FX website too.
TP Global FX Accounts
There are three levels of accounts at TP Global FX. They all come with varying deposits, commissions and spreads:
- Standard – Minimum deposit $200, zero commission, spreads from 0.1 pips, leverage up to 1:500 – ideal for beginners
- Pro – Minimum deposit $500, $15 commission per lot, spreads from 0.2 pips, leverage up to 1:500 – ideal for intermediate traders
- VIP – Minimum deposit $25,000, $8 commission per lot, spreads from 0.1 pips, leverage up to 1:200 – ideal for veteran traders
- Secure login
- 1:500 leverage
- Strong reviews
- True STP pricing
- Competitive spreads
- Copy trading functionality
- MT4 & MT5 trading platforms
- No scalping
- Poor regulatory status
- Limited payment methods
TP Global FX is open for trading Monday through to Friday, following the financial markets from Sydney to Tokyo, London and then to New York. See the broker’s website for further details. Note, the TP Global FX website is open 24/7.
The customer support team is available 24/5 via email, telephone, live chat or via a support message on the website:
- Chat – Live chat icon
- Telephone – +1 7754366970
- Email – firstname.lastname@example.org
- Nigeria – 45, Labaiwa Road, Oke-aregba, Abeokuta, Ogun State, Nigeria
- St Vincent & the Grenadines – 305 Griffith Corporate Park, Beachmont Kingston, Saint Vincent & the Grenadines
TP Global FX Verdict
TP Global FX is a young broker with a strong ethos centred around education and technological innovation. It will be interesting to see how the brokerage develops as education initiatives are rolled out. As it stands, the absence of top-tier regulators is a drawback. The narrow product range and limited account protections also make it difficult to trust TP Global FX.
TP Global FX 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 TP Global FX from United States.
What leverage is applied to TP Global FX accounts?
Leverage is available up to 1:500 depending on the TP Global FX account. These are high rates that can increase both wins and losses.
How much capital do I need to trade with TP Global FX?
The minimum deposit to open an account at TP Global FX is $200. This is a low requirement and makes the broker accessible for beginners.
What are the minimum trading volumes at TP Global FX?
The minimum trade size is 1 micro lot, or 0.01 of a lot, equating to 1,000 CCY. Note, minimum trading volumes also vary by account type.
When do the markets open at TP Global FX?
TP Global FX is open for trading during standard market hours, 24/5. See the broker’s website for a breakdown of opening hours by instrument.
Do I have to provide any documents to TP Global FX to open an account?
To open a live account with TP Global FX, proof of identification and proof of address is required. These can be emailed or uploaded to the broker’s client portal. Document checks take place within 48 hours of receipt.
|TP Global FX offers a long list of popular financial assets with spreads from 0.1 pips.|