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TMS Brokers Review - is it scam or safe?

TMS Brokers Review - is tmsbrokers.com scam or good forex broker?

RATING: 3 / 1 REVIEWS ForexBrokerz TMS Brokers
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Trading Accounts and Conditions

 

Trading account  Min. deposit Max. leverage  Spread
Standard  €1 1:30  0.9 pips

 

TMS Brokers is a Polish brokerage firm with many years of experience in the financial market. It doesn’t seem to offer different account types, but the trading conditions are pretty attractive. Furthermore, the broker is licensed to operate throughout the EU and supports the industry leading MetaTrader5 platform. Here are our impressions of this broker, after we made a thorough research on the company and tested its platform.

 

 

TMS Brokers Advantages

 

Sound regulation, over 14 years of experience

TMS Brokers is owned and operated by Dom Maklerski TMS Brokers SA, a company licensed by the Polish Financial Supervision Authority (KNF). The broker has been operating for more than 14 years, and also had a Maltese brand, TMS Europe.

 

As Poland is a part of the EU, local forex brokers have to comply with all the rules set on a European level, which include a leverage cap of 1:30, provision of negative balance protection, ban on trading incentives such as bonuses, and more. All these measures are aimed at investor protection and give significant assurance for the security of traders’ funds.

 

Transparent and competitive pricing

Another thing we like about TMS Brokers is its transparent pricing policy: the broker has live market quotes on its website for all tradeable assets, and the fees charged on the different CFDs are presented in a very clear and precise way, which is not the case with all forex providers.

 

TMS Brokers’ demo web MT5. Click on the image to zoom in.

 

Furthermore, the trading costs with TMS Brokers are quite low – for example, the benchmark EUR/USD spread is floating around 0.9 pips.

 

 

>> Compare the spreads of top forex brokers <<

 

 

Access to MT5, wide range of financial products

As was mentioned above, TMS Brokers allows you to access the global financial markets via MetaTrader5 (MT5). The MT5 is the latest edition of the MetaQuotes’ software, and is highly valued for its great charting and analytical tools, support for automated trading via EAs, customization options, as well as for the opportunity it offers for trading in derivatives and exchange-traded stocks from the same account.

 

 

>> Check out the best MT5 brokers <<

 

 

That being said, TMS Brokers offers huge selection of assets for trade, including many currency pairs, and a wide variety of CFDs, allowing for portfolio diversification, which helps manage risk. More specifically, the broker’s CFD product range includes commodities, indies, stocks, and the most popular cryptocurrencies.

 

No min. deposit required, fast withdrawals

Clients of Deposit TMS Brokers can deposit any amount of money to start trading, even a couple of Euros. There is no minimum deposit required, however, the broker advises traders to deposit at least 100€ in order to meet the requirements of free withdrawals. Besides, the withdrawal process takes up to 3 days.

 

 

TMS Brokers Disadvantages

 

Conservative leverage

TMS Brokers provides a maximum leverage of 1:30 for forex trades, which would be insufficient for many traders, yet this is in line with the regulatory requirements applicable to the broker.

 

As some of you are probably aware, in August 2018 the European Securities and Markets Authority (ESMA) restricted the maximum leverage allowed for retail forex traders on the European market to 1:30 due to investment protection concerns. That being said, the KFN introduced a leverage cap of 1:100 before ESMA did, back in 2015.

 

Limited payment methods

TMS Brokers does not offer a variety of deposit and withdrawal methods. The broker uses bank wire transfer, credit/debit cards and e-wallet Skrill. Withdrawals are only allowed via bank wire.

 

 

Conclusion

 

Overall, TMS Brokers is a forex provider we can recommend – it has many years of experience and is licensed in Europe. Besides, the broker offers trading in wide range of financial assets on the industry leading MT5, and its trading conditions are really good.

 

If you are looking for a well-regulated EU brokerage, you may also check out our list of reliable brokers licensed in Cyprus.

 

 

>> Find the best brokers regulated by CySEC <<

 

 

To sum up our review of TMS Brokers in a few words:

 

Pros Cons
Sound regulation Conservative leverage
Transparent and competitive pricing Limited payment methods
Access to MT5  
No min. deposit required  

 

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Traders` reviews for TMS Brokers

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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