TMS Europe Review - Is it scam or safe?

TMS Europe Review - is tmseurope.com scam or good forex broker?
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Trading Accounts

 

Account type Minimum deposit  Minimum trade size Maximum leverage Spreads
Standard $1 0.01 1:200 Fixed, 1.2 pips

 

TMS Europe offers its clients a single account on its multiproduct proprietary platform with Instant execution, leverage up to 1:200 and tight fixed spreads on both its in-house web-based platform and the popular Metatrader 4.

 

Unfortunately, there are no swap-free (Islamic) accounts available to TMS Europe’s clients.

 

On the other hand, this brokerage offers VIP package services for active clients, closing more than 50 lots per month. The VIP Package allows reduction of costs (Up to 20%) while increasing investment opportunities with instant trade alerts and interest rate on account balance (0.5% on EUR, USD for deposits over 20,000 EUR).

 

The Company. Security of Funds

 

Founded back in 1997, TMS Europe offers online trading in wide range of financial products: more than 40 currency pairs, CFDs on 18 major stock indices, more than 20 commodities (precious metals included), equities, as well as ETFs. The broker has offices in in Malta, Latvia, Poland, Lithuania and Estonia.

 

TMS Brokers Europe Ltd., doing business as TMS EUROPE, holds a Category 3 investment services license issued by the Malta Financial Services Authority (the MFSA). This license enables it to provide any type of Investment Services, to hold and control Clients’ Money or Customers’ Assets, and to deal for their own account or underwrite.

 

MFSA is the single regulator for financial services in Malta and also manages the Registry of Companies and responsibility as the Listing Authority.

 

Licensed companies must have a minimum of €730,000 in net tangible assets, which should be satisfied on an ongoing basis. Apart from the capital requirement, regulated brokerages are obliged to have local presence, to apply adequate internal controls for their everyday operations, to maintain a risk management system, and regularly report to MFSA, among other requirements.

 

The companies licensed by MFSA are also required to abide by ESMA guidelines on the sale of complex products where online forex is specifically mentioned as such. Malta has been a member of the European Union since 1st May 2004, so TMS Europe is entitled to offer cross-border services within the EU under the MiFID Passporting Regime.

 

As a member of the Maltese Investor Compensation Scheme, so the broker’s liability is covered up to €20,000 per client.  Furthermore, TMS Europe promises to cover clients negative balance accounts up to €1,000.

 

Trading Conditions

 

Minimum Initial Deposit

TMS Europe has set no minimum deposit amount, so traders are able to open a live account with just $1, which is an attractive offer.

 

Spreads & Commissions

TMS Europe`s sole account provides tight fixed spreads, amounting to 1.2 pips on EUR/USD, while most fixed-spread brokers offer 2 pips spreads for this pair. Of course, no additional commission fees apply to forex trading.

For purposes of comparison, another Maltese broker, NSFX, offers fixed spreads amounting to 3.0 pips on EUR/USD. Unlike TMS Europe, however, NSFX also offers ECN trading environment.

 

Leverage

The maximum leverage level offered by TMS Europe is 1:200, which is average for the forex market. NSFX offers the same maximum ratio. If you need higher leverage, many EU brokers offer such - for example, FXTM provides leverage up 1:1000. Check out a list of brokers, providing leverage equal to or exceeding 1:500 here. Keep in mind that high leverage levels involve greater risk.

 

Trading Platforms

 

TMS Europe supports the industry’s standard MetaTrader 4 platform (MT4), as well as its proprietary web based TMS Trader.

With TMS Trader you can access your trading account via any browser, check it on the go on your mobile (iOS and Android apps). Besides, it is fully compatible with the MetaTrader 4 suite. On this platform, you can enter transactions, check your account balance, and access real-time quotes and charts quickly, comfortably and with ease.

 

TMS Europe’s web based TMS Trader. Click to enlarge.

 

TMS Europe also uses the popular MT4 – the internationally acclaimed trading terminal, offering a full spectrum of trading tools and services: a number of built-in technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive back-testing options. Traders can download ready-made or create their own EAs and let the program do all the work.

 

Methods of Payment

 

Unlike most brokers, TMS Europe does not offer a variety of deposit and withdrawal methods: bank wire transfer, credit/debit cards and e-wallet Skrill.

 

Conclusion

 

TMS EUROPE is a reliable EU broker with almost 20 years of experience. It offers wide array of products to trade with competitive trading conditions. Our may concern with this broker is that it seems that it takes the opposite side of clients’ trades – uses a pure Market Maker model. To sum up the above, here are the advantages and drawbacks with regards to this broker:

 

Pros Cons
EU-regulated  No ECN environment, no variable spreads
Tight spreads MM model
Choice of trading platforms   
Variety of trading instruments   

                                                                                                    

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