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TD Markets Review - Is it scam or safe?

TD Markets Review - is tdmarkets.com scam or good forex broker?

RATING: 2 / 0 REVIEWS
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Trading Accounts & Conditions

 

Account type   Minimum deposit  Minimum trade size Maximum leverage Average Spreads (& Commission)
Smart $10 0.01 1:500 0.8 pips + $2/lot

 

TD Markets offers its clients one basic forex trading account type with variable spreads, leverage up to 1:500 and the option to trade in micro lots on the MetaTrader 4 platform.

 

Indeed, the offerings of TD Markets appear attractive: low minimum initial deposit required, high leverage levels, comparatively low variable spreads and commission fees. In fact, trading costs with this broker amount to around 1 pips per standard lot ($2 + 0.8 pips), which is a pretty good pricing. The thing is, TD Markets is registered offshore and even though its conditions seem good, the broker can always get away with your money and there is nothing you can do about it.

 

Besides, there are reputable licensed brokers that offer better spreads. Global brokerage IG, for example, has set no minimum deposit requirement, so you can start out with just $1 and use spread averaged 0.8 pips on EUR/USD with no commission fees.

 

The Company. Security of Funds

 

Company

Country

Regulation

TDM Holdings Inc.

SVG

N/A

 

Established in 2015, TD Markets is a forex and binary options broker that supports the MT4 platform. The company behind the brand, TDM Holdings Inc., is registered offshore in Saint Vincent and the Grenadines. Card payments and billing services are processed by its UK subsidiary, TD Markets Limited, registered in the United Kingdom, but not FCA authorized.

 

Although it claims to offer DMA execution, according to its Terms of Business TD Markets acts as Market Maker.

 

We advise traders to avoid offshore brokers as a general rule and invest with companies licensed in UK, Cyprus, or  Australia for instance, where regulation is strict and there are certain client protection rules. Nonetheless, is you prefer offshore brokers for some reason, TD Markets may be a good choice, its trading conditions are attractive. Besides, the user reviews in the Internet are not predominantly negative.

 

Trading Platform

 

Like most brokers, TD Markets supports the popular MetaTrader 4 (MT4) platform.

 

MT4 earned its reputation as the most popular trading platform due to its ease of use and various useful functionalities that allow traders not only to make transactions but also analyze market dynamics, to automate their trades via wide range of Expert Advisors and to back-test their strategies.

 

 

TD Markets’ desktop MT4 platform. Click to enlarge.

 

Methods of Payment

 

TD Markets offers its clients 2 payment methods: bank wire transfer, credit/debit card, Bitcoin and AfriDollar, another cryptocurrency. Popular e-wallets such as Skrill and Neteller are not available with this broker.

 

Withdrawals take up to 3 business days for processing and review purposes. Also, keep in mind that transfers below $200 will be charged.

 

Conclusion

 

TD Markets is a relatively young offshore broker that offers attractive trading conditions. Our main concern with it is registered offshore. Here are, in a nutshell, the advantages and disadvantages of TD Markets:

 

Pros

Cons

Low spreads

Regulated offshore

MT4 platform available

No choice of trading platforms

Low initial deposit required

No e-wallets supported as payment methods

 

 

 

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Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Traders` reviews for TD Markets

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