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TixFX Review - Is it scam or safe?

TixFX Review - is www.tixfx.com a good forex broker or a scam?

RATING: 2 / 7 REVIEWS TixFX
TixFX is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

 Account type  Minimum deposit  Minimum trade size  Maximum leverage  Spreads 
Standard  $500 0.01 1:300 From 1.5 pips on EUR/USD
Institutional  $50 000  0.01 1:300 From 0.5 pips on EUR/USD

 

TixFX services both retail and institutional clients and has arranged two different account types. Both of them offer commission-free trading, leverage up to 1:300 and micro tradeable lots. Of course, spreads on the Institutional account are significantly lower.

 

In addition, swap-free (Islamic) services are available on the Standard account type for clients who are not willing to earn or pay interest for religious reasons.

 

According to us, the minimum initial deposit required by this broker is a bit too high, considering its offshore destination. In comparison, leading award-winning broker FxPro (licensed by both CySEC and FCA) requires the same amount ($500) as a minimum to open an account with it.

 

What is worse, we find the TixFX’s spreads above average, as most brokers offer spreads within the range of 1.0 – 1.5 pips on the EUR/USD pair. In comparison, another offshore broker, FxChoice, offers average spreads of 1.2 pips on its commission-free accounts.

 

The Company. Security of Funds  

 

TixFX is a pure NDD broker, registered offshore. It offers trading in 70 currency pairs, as well as CFDs on indices, energies and precious metals on the renown MetaTrader 4.

 

The company behind the brand is TIX Group Ltd, which is registered as International Business Company (IBC) in ST. Vincent and the Grenadines. SVG is a popular offshore forex destination due to the fast and inexpensive registration procedure and the liberal control over brokerage firms.

 

IBCs are not obliged to meet capital adequacy requirements, to keep client money in segregated accounts, nor to arrange a compensation scheme in the event of insolvency.

 

That is why, if you plan to invest a large amount of money, we would advise you to select among brokers regulated in the UK or Australia, or another jurisdiction, where the respective financial watchdogs are on alert.

 

TIX Group Ltd. is serviced by London-based Jedi Marketing Ltd., which in fact enters into agreements with clients. Jedi Marketing Ltd. is registered in the UK, but is not regulated by the FCA.

 

Trading Platforms

 

TIX FX provides the classic award-winning trading platform MetaTrader 4 (MT4), which comes in as PC, web and mobile versions.

 

This fully-featured software provides traders with everything they need: fast order execution, a variety of technical indicators, advanced charting package and the ability to develop and to use Expert Advisors (EA). There are many different time frames to choose from and you can place a trade with a single click or within a chart.

 

Besides, TIX FX enables its traders to use a Virtual Private Server hosting, which enables traders to use safely automated trading systems and different automated scripts without any risk of disconnections or unexpected situations.

 

Methods of Payment

 

Clients of TixFX are offered the following payment modes: credit cards, bank wire transfers, and e-wallets Skrill, Neteller, WebMoney, OKPAY, LAVApay, FasaPay, Яндекс, cashU, Perfect Money & Qiwi.

 

Conclusion

 

TixFX is an offshore broker, offering NDD environment for trading in various currency pairs and CFDs on the MT4 platform. Its main disadvantage is the light-touch regulation and the comparatively high spreads. To sum up the above: 

 

Pros

Cons 

MT4 available

Not regulated

Pure NDD brokerage

Comparatively high spreads

Commission-free trading

 

Min. initial deposit required is a bit too high

 

No PAMM solutions

Latest news about TixFX
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Traders` reviews for TixFX

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

 

 

Scammed

Tixfx scammed me of my money. Please help me find a way to get my money back

Tshilidzi 06/04/2018

TIXFX contact

Non li sento da un anno.
Vorrei essere contatta se possibile.
Al numero 2772104165.

Translated by Google:

I have not heard them for a year.
I would like to be contacted if possible.
At the number 2772104165.

Antonella Regina 04/15/2018

TixFX Withdrawal

I am trying to get the balance of my account which is 1.380 euros and I get no response.
V. Skordis

vrasidas skordis 03/02/2018

my money

hi i have tried for months to contact tixfx with no luck, is there anybody to help get my money back

williammcgrath 12/18/2017

eur-usd

il mio investimento è stato interrotto e lo è ancora.

Translated by Google:

My investment was stopped and it is still.

ferrara ferrante gianfelice 07/19/2017

scam

I have been scamed out of all my money

j j nel 07/11/2017

My money is gone

hi since I join this tixfx but cannot trade. my money is gone

Setlogane Aaron Mogodi 07/03/2017
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