August 7, 2020

Tifia Review – Is Tifia Scam or Legit Forex Broker?

tifia review

Regulators: –

Cryptocurrencies: YES

Minimum Deposit: $10

Maximum Leverage: 1:1000

Spreads: Low

My Score: 2.2

Hello guys, I am speaking with Tifia review now. Tifia is based in 2014, offering to trade with Forex and CFDs. The broker’s internet site is tifia.com. Based on the Site, the broker is located in Govant Building, BP 1276 Port Vila VANUATU.

The normal number of traffic on the site a month will be 80k. The people are out of Malaysia and Singapore mainly.

In this Tifia review, you’ll obtain the replies to those questions: Is Tifia scam or untrue? What type of account types will Tifia offer? what are the trading requirements such as spreads, minimum deposit, and also optimum leverage? Can it be Tifia regulated?

Let’s beginning with regulation that’s the very imagined feature of this broker.

Regulation of Tifia

Tifia Markets Limited is the firm behind the broker. Tifia Markets Limited asserts it is authorized as a “Dealer in Securities” (registration number 40209) by the “Ministry of Finance and Economic Management” and governed in agreement with the “Dealers in Securities (Licensing) Act [CAP.70]” of the Republic of Vanuatu.

You realize that this really is a loose law. As it’s not difficult to obtain Vanuatu permit, the minimum funding holdings demand is currently only $2000.

However, you will find a few respectable regulators that require strict rules to brokers. As an example, the UK’s Financial Conduct Authority (FCA) requires putting up 730,000 minimum net funding.

Also, if your broker wishes to obtain a permit out of the Australian Securities and Investments Commission (ASIC) at Australia has to hold $1,000,000 minimum net funding. This shows just how strict it’s always to be part of the corporation.

There are reimbursement approaches that protect your hard-earned money whenever there’s surprise insolvency or drawback problem on well-regulated brokers. Certainly one of these is currently the Financial Services Compensation Scheme (FSCS). The FSCS covers the investment of money up to a maximum quantity of 50,000.

Before you get started trading with a broker, make certain to check on for legal law. This really could be the only means to shelter you from hackers. If you’d like a reliable Forex broker recommendation, then I’d say check my very best forex brokers list.

Account Types & Spreads

Tifia offers its customers four accounts types. All these are Start (Micro), Classic, ECN Pro, and Crypto. It’s possible to decide on the most effective one which suits you.

The Start account type contains $10 minimum deposit also it’s relatively low. Spreads are out of 2.2 pips and there’s not any commission. The most leverage is 1:1000 that will be high.

The deposit is $100 over the Classic account. Spreads are out of 1.1 pips and there’s not any commission too. The most leverage similarly with Start accounts, 1:1000.

ECN Pro accounts has become easily the most attractive consideration kind of broker. The deposit is $400 with this particular account type. The most leverage is significantly lesser compared to Start and Classic accounts types, 1:100. The Spreads are in 0.5 pips and also including a commission of 8 percent standard lot around a turn.

Trading Platform

Tifia supports MetaTrader 4 that is typically the very widely used platform among traders. You’re able to utilize the platform onto the background computer, Android or iOS apparatus. Unlike a number of different brokers that offer this stage, the broker doesn’t offer you an online platform.

Higher work speed and reliability, many different tools, comprehensible interface, high-security amount, auto-trading, usage of the most recent financial news – those profits in addition to others really are a justification for its option of MetaTrader 4.

Trading Instruments

Clients of those Tifia capable to trade online forex, indices, commodities, and precious metals, along with Crypto Currencies. I am able to say that the product or service portfolio of this broker is wide.

Some Crypto Currencies that the broker supplies are Bitcoin, Litecoin, Ethereum, Dash, Neo, Monero, along with ZCash. It’s really a convenience to present these remarkably popular cryptos.

Payment Methods

Tifia supplies a high number of obligations techniques; bank wire transfer, credit/debit cards along with E-Wallets Skrill, Neteller, Perfect Money, FasaPay, along with Bitcoin transfer.

tifia withdrawal techniques

There isn’t a fee once you deposit. However there are fees and commissions on several techniques whenever you draw.

Conclusion

Finally, Tifia presents good trading requirements but its own product portfolio is notably restricted to Nevertheless, in my own estimation, the principal trouble with this specific broker is its own regulation.

Note, it’s insecure to trade with a broker who’s not duly-regulated. Therefore, I recommend you like a more reliable forex broker to trade.

Tifia

2.2

Trust

1.0/10

Commissions and charges

2.0/10

Customer Service

3.0/10

Platform & Tools

2.0/10

Product Portfolio

3.0/10

Pros

  • MT4 endorsed
  • Low first deposit

Cons

  • Unregulated broker
  • No Selection of trading platforms, no more internet one