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.

InstrumentsForex, CFDs, indices, commodities
Demo AccountYes
Min. Deposit$200
Pay MethodsBitcoin Payments, Wire Transfer
Min. Trade0.01 lots
Regulated BySVG FSA, NFA, CAMA Nigeria
MetaTrader 4Yes
MetaTrader 5Yes
cTraderNo
STP Account
ECN Account
DMA Account
Mobile AppsYes
Auto TradingYes
Social TradingYes
Copy TradingYes
Trade SignalsYes
Islamic AccountYes
CFD
Start trading on the financial markets with up to 1:500 leverage using competitive CFDs.
FTSE SpreadNot offered
GBPUSD SpreadFrom 0.1
Oil SpreadFrom 0.1
Stocks SpreadFrom 0.1
Leverage1:500
Forex

Ultra tight spreads from 0.1 pips are available on major, minor and exotic forex pairs.

GBPUSD SpreadFrom 0.1
EURUSD SpreadFrom 0.1
EURGBP SpreadFrom 0.1
Assets25+
Risk Warning – Your capital is at risk

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.

Trading Platforms

MT4

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:

TP Global FX trading platform
TP Global FX MetaTrader 4

MT5

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:

TP Global FX online trading
TP Global FX MetaTrader 5

Note, both the MT4 and MT5 trading platforms can be downloaded from the broker’s website.

Markets

TP Global FX offers a range of trading instruments:

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:

Leverage

As a broker regulated outside the EU, high leverage is available at TP Global FX. Rates vary depending on the account type:

High leverage can mean huge profits but equally could lead to great losses – make sure to use stops and losses.

Mobile App

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.

TP Global FX mobile trading
TP Global FX mobile app

Deposits & Withdrawals

The minimum deposit requirement is $200. There are no deposit fees but transactions can only be made via:

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.

Demo Account

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.

License Review

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.

Additional Features

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 copy trading platform
TP Global FX copy trade

TP Global FX Accounts

There are three levels of accounts at TP Global FX. They all come with varying deposits, commissions and spreads:

Benefits

Drawbacks

Trading Hours

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.

Customer Support

The customer support team is available 24/5 via email, telephone, live chat or via a support message on the website:

Office addresses:

Security

A privacy policy and terms and conditions can be found at the bottom of the TP Global FX website. Security procedures are regularly reviewed to align with international IT and data protection practices. MetaQuotes platforms also use industry-standard security protocols.

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.

Accepted Countries

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.

Alternatives to TP Global FX

If you are looking for alternatives to TP Global FX we have compiled a list of the top 5 brokers that are similar to TP Global FX below. This list of brokers like TP Global FX is in order of similarity and only includes companies that accept traders from your location.

  1. LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
  2. EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
  3. ZuluTrade – Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets
  4. Just2Trade – Just2Trade offer hitech trading on stocks and options with some of the lowest prices in the industry
  5. eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

FAQ

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.

TP Global FX vs Other Brokers

TP Global FX vs