TFI Markets — Forex Broker Rating and Review 2020

Signals delay for automated execution. Different price feeding for manual and automated trading. To be more specific, Expert Advisers on Metatrader 4 get different execution price than price I get while placing orders manually. I don’t know exactly if it’s so critical for regular traders but I don’t like it. Looks suspicious. Back office managers say it happens sometimes and there is nothing worry about. But my programs stop working properly and I lose money while getting bad bid and ask prices. So, don’t open account here if you using algorithmic strategies. Moreover, look carefully if you have multiple orders the same time because the same shit might happen when you can’t define the real price of each execution.

I got wrong prices comparing to other brokers. My position by USDJPY was closed by unknown reasons. Stop loss was placed above the current price (I had sell market order). Order has been active and I left it overnight. On the next morning, it was closed by stop. I haven't found that price was even close to stop loss during night. More interesting, I found no prices provided by another broker at this level. Actual price was 10 - 12 below my stop and it's impossible that price has reached stop target. I think it was made manually by TFI.

With all due respect, kindly note that the TFI group has been providing forex services to our clients for the last decade without a single complaint by any of our clients to the regulator (the Central bank of Cyprus prior to 2010 and CySec thereafter). We are audited by two of the big four accounting firms. We are a Cypriot company and our employees are 90% Cypriots. Our management comes with experience from the worlds top ranking international banking/financial institutions and we do run the company much like a banks treasury room.

I understand that there is a history of several unregulated firms running their operations from Cyprus, however, please note that this has changed dramatically. Cyprus is no longer a “soft” regulatory environment as you will notice; if you visit CySEC’s website you will find out that the regulator is not shy about fining companies for even minor lapses in oversight and has closed down numerous unregulated firms in the last few months. The belief that Cyprus is an “easy” place to get regulated is mistaken as it does takes more than 6 months and several specifications to get licensed even if you have all the necessary requirements.

another Cyprus broker....is enough warning for you?

TFIfx ® is the brand name of TFI Markets Ltd, a financial services company. TFI Markets Limited is authorised and regulated by CySEC (license no. 117/10) which complies with the European Markets in Financial Instruments Directive (MiFID). TFI Markets Ltd is audited by Deloitte and KPMG.

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