TIO Markets is a new and fresh broker that offers trading services in forex, CFDs, cryptocurrencies, stocks, indices, and energies. Its tagline, We’re all about trading, Nothing more, nothing less, is a telling statement about this broker. While it presents a tone of seriousness about trading, it also leaves little insight about its vision for its clients. TIO Markets’ official website lists little to no information about its background or its services. Data about this broker is rather limited.
TIO Markets Regulation and Security
TIO Markets is the trading brand of TIO Markets Ltd. According to its official website, it is based in Saint Vincent and the Grenadines. The jurisdiction of SVG is known to many as the base of offshore brokerage firms, prompting some investors to steer clear of SVG-based brokers. However, in recent years more and more investors are beginning to embrace trading with offshore brokers. Still, the risks are very apparent.
It is unclear whether TIO Markets is regulated by any agency or organization. No information about it is stated on the broker’s website. According to many reviews about TIO Markets, clients have long been exposing the risks of trading with it. This broker has been accused of monetary scam and fraud. Positive reviews about TIO Markets are also rare.
On its website, the only security measures imposed by this broker are TIOshield and Negative Balance Protection. The former allows clients to undo their losing trades in the form of insurance that expires in 60 minutes, while the latter is a standard consumer protection that prevents client funds from dropping less than zero.
Note: TIO Markets does not offer its services in the jurisdiction of the United States.
TIO Markets Review of Services
TIO Markets writes limited information about the different services it offers. However, it gives decent information about its platforms and account types, as well as benefits that the client can enjoy.
Trading Platforms
TIO Markets offers two trading platforms: MT4 and MT5 both developed by MetaQuotes. These two platforms are widely-known in the trading industry and have been awarded several times since they were launched.
MetaTrader4
MT4 is a classic choice in trading forex and CFDs. It is known for its simple but intuitive interface and its wide range of tools and indicators. It also includes a customization feature that allows each trader to customize the platform according to their preferences. MT4 has been set as the gold-standard for trading platforms by traders all over the world.
MetaTrader5
MT5 is labelled by TIO Markets as “the next-generation platform for forex and CFDs.” This platform was developed to complement the features of MT4. The latter is a classic in forex trading, but that is almost the only thing it is good at, while MT5 is a multi-asset platform that can trade cryptocurrencies, stocks, indices, energies, and precious metals. It has the same level of functionality and speed as the MT4, hailing it as one of the best platforms in the industry.
Trading Accounts
TIO Markets provides four options for trading accounts. These four vary mostly in commissions and standard features. The leverage for all these accounts is at 1:200, but a higher leverage up to 1:500 is available upon the client’s request.
Standard Account
This account type charges $6 commission per lot with a minimum trading volume of 0.01. There are no extra fees charged for every deposit and withdrawal. It includes over 120 trading instruments and a free demo account. It’s recommended for traders who trade less than 5 lots every month.
Signature Account
This account is ideal for TIOx holders. It charges $4 commission per lot with free risk consultation. The minimum trading volume is similar to the Standard Account, as well as with the rest of the accounts. No extra fees are charged.
VIP Account
This third option boasts raw spreads and as little as $2 commission per lot. Trading support is prioritized for traders with this account and they are given basic education about trading in the financial markets. This account is recommended for professional traders.
VIP Black Account
With raw spreads and $0 commission per lot, this is TIO Markets’ elite account. Its standard features include the feature to undo any trade, an advanced education on trading, and unlimited trading lots without any extra fees. With leverage that can go up to 1:500 and a platinum level of support, expert traders can enjoy this account.
TIO Markets Conclusion
TIO Markets does offer some promising services. However, at the rate of how fast the industry advances, it falls behind compared to its competitors. Forex brokers have aimed to provide the best services possible as well as create their own brand to advertise their services to clients all over the world. TIO Markets does not exert effort in creating a quality trading experience to their clients. Also, its security is still in question because of its hidden regulatory status. When compared to most brokers, it does not belong in the recommended list to trade with.