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Tifia Review - Is it scam or safe?

Tifia Review - is tifia.com scam or good forex broker?

RATING: 1.4 / 3 REVIEWS ForexBrokerz Tifia
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Trading Accounts & Conditions

 

Account type Minimum deposit  Minimum trade size Maximum leverage Average Spreads (& Commission) 
Start $10 0.01 1:1000 2.0 pips
ECN Classic $100 0.01 1:400 1.5 pips
ECN Pro $500 0.01 1:100 0.5 pips + $8/lot round trip

 

Clients of Tifia are offered a choice of 3 account types, one intended for beginners, called Start, and two ECN accounts.  All of them offer variable spreads and micro tradeable lots on the most popular forex trading platform, the MetaTrader 4.

 

Besides, this broker provides managed account services under the so-called Agent program.

 

Overall, Tifia’s offerings seem attractive: ECN environment with high leverage levels and comparatively low minimum initial deposit, and competitive spreads. Actually, the spreads on the ECN Classic commission-free account are on the upper end of average, typical ones amounting to 1.5 pips for the EUR/USD. Tifia’s best spreads are available on the ECN Pro accounts – averaged 0.5 pips and involving a commission of $8 per standard lot round turn. So, trading costs for the EUR/USD pair amount to around 1.3 pips per lot, which is an attractive offer.

 

By comparison, FX Choice offers spreads averaged 1.2 pips on EUR/USD on its commission-free accounts. For further information and comparison, you may check out real-time spreads of 15 leading brokers here.

 

The Company. Security of Funds

 

Company

Country

Regulation

Tifia Investments Limited

UAE

N/A

 

Established 2014, Tifia is a brokerage, offering trading in 20-something currency pairs, precious metals and some CFDs on the popular MetaTrader 4 platform. The brand is owned and operated by Tifia Investments Limited, a company incorporated and registered in Dubai, United Arab Emirates (UAE).  The broker used to be licensed in New Zealand, however, it was deregistered from NZ FSPR in November, 2016 and currently it is not regulated by any authority.

 

Tifia claims that all orders are executed with no dealer intervention and that it segregates all clients’ funds from the company assets. Unfortunately, there isn’t any regulatory body overseeing this broker’s activity.

 

Investing in an unregulated broker is a risky business - you can lose your money and the chance of getting it back is close to zero. That is why we generally advise traders to stay away from such companies and to choose among companies licensed by reputable regulators such as FCA or ASIC, for example.

 

Trading Platforms

 

As we have already mentioned, Tifia supports the robust MetaTrader 4. The platform is available for download for PC, iPad, iPhone and Android. Obviously, this broker doesn’t offer the web-based MT4.

 

MT4 offers a number of technical indicators, extensive back-testing environment, advanced charting package and is equipped with the most commonly used trading robots, as well as with options to create new ones.

 

Methods of Payment

 

Tifia offers a large number of payments methods to accommodate all our clients: bank wire transfer, credit/debit cards and e-wallets Skrill, Neteller, Perfect Money, FasaPay, and OKPay.

 

Conclusion

 

Overall, Tifia’s trading conditions are good, but its product portfolio is somewhat limited. However, in our view the main problem with this broker is the lack of regulation. Here are, in a nutshell, the advantages and disadvantages of this broker:

                                                                                                 

Pros Cons
Competitive spreads Not regulated
Low initial deposit There isn’t a great variety of trading instruments
ECN environment available No choice of trading platforms, no web-based one
MT4 available  
   

 

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Traders` reviews for Tifia

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Scam,rip off and lies

I have lost 66,000 Euro

Monika kosch 08/21/2019

Worst broker

high spread, bad server, fake contest winner. Bad support online, That no reason to join this broker.

wiyono 03/25/2019

Die Größten Betrüger

Diese Leute bestehen nur aus Lügen und Betrug.Ein Herr Mario Novak hat mir mein ganzes Geld abgenommen mit dem Versprechen das er nur mit 10% tradet.
Angeblich habe ich alles verloren,das glaube ich aber nicht.Keinen Cent Auszahlung. Die Finanzabteilung und der Support stecken alle unter einer Decke,aber sie werden sich noch wundern da ich einiges in die Wege geleitet habe und eine Betrugsanzeige liegt auch vor.Sie sollen sich nicht zu sicher sein,es kommt einiges auf sie zu.


Translated by Google:

These people are just lies and cheating. A Mr. Mario Novak has taken away all my money with the promise that he only trades at 10%.
Supposedly I lost everything, but I do not think so. Not a penny. The finance department and support are all under one roof, but they'll be surprised because I've got things underway and there's a scam. You should not be too sure, there's a lot going on.

Monika Kosch 12/16/2018

a nothing professional broker

Tifia has never been a reliable unbroker for me, spreads too high, change the size of lots, I do not like it at all.

Maicols Thomp 11/24/2017
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