TF Global Review – Can this Broker be Trusted?

TF Global Review

Opening an account with an online broker gives you access to the financial markets, enabling you to enjoy the opportunities available. But, this also depends on the brokerage you choose because you have to be able to trust them. Given that there are numerous stories of companies turning out to be scams, or being downright shady, it is normal for you to be skeptical when you look at the various options. After all, every platform you come across appears to be quite decent, but reality can be quite different. This TF Global review can help you in finding the truth.

Sure, you could decide to just skip this step and directly open your trading account. But, are you willing to hand over your money to a company you don’t know anything about? Just because they have an impressive website is no guarantee that they are authentic because there are plenty of such scams that seem to be quite professional. These days, making a professional and well-designed website has become a piece of cake, thanks to the software available. Thus, you cannot make your decision based on their website alone.

Instead, you have to check their offerings carefully and make sure that there are no inconsistencies that can cast doubt on the broker’s legitimacy. If it does, it is better for you to avoid them because you do not want to risk your hard-earned money this way. The problem is that most people do not know what to look for in order to identify whether a brokerage is worth trusting or not. If you are in the same situation, you can find this review helpful. It sheds some light on TF Global, one of the brokers you will find in the market that will catch your eye. Can this broker be trusted? No, it cannot and you can find out why below:

It is not honest about its regulation

The regulatory status of an online brokerage is considered extremely important because it shows whether you should believe anything they claim, or take everything with a grain of salt. Regulated brokerages are monitored by a third-party authority and this can hold them accountable. They are also required to follow certain rules and maintain high standards where services are concerned.

Therefore, when you want to know if a broker is worth trusting, your priority should be to check their regulation. When you go through the TF Global website, you will realize that the broker has not offered any details about its regulation. But, considering that it boasts an office address in London, United Kingdom, it should be licensed by the FCA.

This is the Financial Conduct Authority (FCA), which is responsible for overseeing the brokers operating in the region. No platforms are permitted to operate without their authorization, but if you check their online register, you will not find TF Global listed. This could mean two things; either TF Global is not based in the UK, or it is operating from there illegally.

Both scenarios are not favorable and do not inspire trust in TF Global at all. Another important thing to note is that the brokerage is also not compliant with the policies of the FCA, which means that it is certainly not licensed.

It has malicious bonus policies

One of the most common tactics of scam brokers for attracting people to their platform is by offering them trading bonuses. You will find the same on the TF Global website, as it is offering lucrative bonuses to anyone who signs up with them. It is important to note that this practice has been banned in a number of jurisdictions because bonus policies tended to be exploitative, something you will discover at TF Global when you check their policies.

It should also be taken into account that offering trading bonuses is not permitted in the UK, which means that TF Global should not offer them, given that it claims to be based in London. Yet, the brokerage is clearly breaking the rules of the FCA, which indicates that it is not a legitimate entity. Plus, the bonus policy itself is a malicious one, as it imposes a minimum trading volume requirement that you have to fulfill before you will be permitted to withdraw your funds. No genuine company would ever prevent you from accessing your money.

It is not upfront about its business model

When you decide to sign up with TF Global, it is obviously because you want to engage in forex and CFD trading services. Therefore, it comes as a big shock when you discover that they do not appear to be offering this service at all. Once you complete the sign up process and check out the trading platform, you will come to know that they only allow you to buy and sell crypto assets. While cryptocurrencies are undoubtedly popular, the company should not be misleading you this way.

Yet, this is exactly what it is doing and this means that TF Global does not offer you a trading software at all. This is another reason to not trust the brokerage because it is not upfront about its services and this is not the kind of company you want to trust with your money.

It only offers crypto deposits

Another problem you will come across with TF Global is regarding its deposit methods. You will discover that it only gives you the option of making crypto deposits. While there is nothing wrong with cryptocurrencies itself, it should be noted that these payments tend to be final as well as anonymous. This means that unlike card payments, you will not be able to file for a chargeback and get a refund in case of a problem. The payment will be permanent and the anonymity of these digital currencies can help scammers in concealing their identities even better.

The Verdict

When you take all these flaws into account, you can see that TF Global is not a broker to be trusted.