TSG Broker Forex broker review – Everything you need to know

Minimum deposit

100 EUR

Bonus

Maximum leverage

1:30 (1:200 for professional clients)

Year founded

2016

Regulation

CySec

Trading platform

MT5

TSG Broker has several years of experience in the sector. It offers diverse account types, multiple popular markets, and access to advanced MT5 trading platforms. Below is the brief and unbiased review of this forex broker, where we assess its safety, accounts, trading conditions, platforms, profit withdrawal policies, support, and more.

TSG Broker Overview of the website

The website of the TSG broker is simplistic and responsive. No unnecessary media or colors are crowding the user’s view. The website feels snappy and enables quick and easy navigation around its tabs and pages. Traders can access all the important details like accounts, markets, platforms, and so on using the top menu bar, which is useful.

There is a warning at the top of the website showing that most CFD traders lose money, which is a positive sign for the broker’s transparency and reliability. However, there is no live chat available, which is a big drawback for this broker. Despite being here for years, it was not able to incorporate live chat into its website. The only available language users can access the website and support is English, which is also a drawback.

Overall, the broker needs to introduce the improvements mentioned above to make its website excellent and truly useful.

TSG Broker Safety and Licenses Reviewed

TSG Broker is owned and operated by TSG Brokers Ltd, which is a company registered in Cyprus. It is a Cyprus investment firm and regulated by the CySEC, or the Cyprus Securities and Exchange Commission. This license enables the broker to operate and offer its services across the European economic zone. The CySEC license is a more reputable one than other offshore jurisdictions. However, it still does not guarantee the broker is reliable or competitive.

Client funds at TSG Broker are held in segregated accounts with major banks, separate from the company’s own funds, which is a part of its regulatory compliance as a Cyprus Investment Firm.

As for other important safety features, they offer negative balance protection for retail clients under European regulatory standards, so you can’t lose more than your account balance.

This is especially important for beginners. The broker has moderate leverage levels, which is due to CySEC’s strict leverage regulations for retail clients.

TSG Broker Accounts Reviewed

TSG is a multi-asset broker that offers many different trading account types, such as Basic, Standard, Expert, ECN, VIP, and Professional. Spreads are very competitive on all account types, and they are 0 pips on ECN accounts, which are aimed at scalpers. Let’s briefly review trading specs for each account to evaluate whether the broker is competitive and affordable. The leverage is capped at 1:30 due to CySEC’s strict regulations. This is for all retail traders, while professionals can usually get up to 1:200. The broker offers 1:200 leverage on the Professional account for professional clients.

TSG Broker Basic Account

Minimum deposit – 100 EUR
Maximum leverage – 1:30
Spreads – From 0.3 pips
Commissions on Forex – 0 USD
Commission on shares – 0.15% or 2€/$ Min per side
Commissions on crypto pairs – 0.12% per side
Minimum lot size – 0.01 lots

TSG Broker Standard Account

Minimum deposit – 1,000 EUR
Maximum leverage – 1:30
Spreads – From 0.2 pips
Commissions on Forex – 0 USD
Commission on shares – 0.12% or 1.5€/$ Min per side
Commissions on crypto pairs – 0.12% per side
Minimum lot size – 0.01 lots

TSG Broker Expert Account

Minimum deposit – 5,000 EUR
Maximum leverage – 1:30
Spreads – From 0.2 pips
Commissions on Forex – 0 USD
Commission on shares – 0.09% or 1€/$ Min per side
Commissions on crypto pairs – 0.12% per side
Minimum lot size – 0.01 lots

TSG Broker ECN Account

Minimum deposit – 15,000 EUR
Maximum leverage – 1:30
Spreads – From 0.0 pips
Commissions on Forex – 3€/$3.5 per side
Commission on shares – 0.09% or 1€/$ Min per side
Commissions on crypto pairs – 0.12% per side
Minimum lot size – 0.01 lots

TSG Broker VIP Account

Minimum deposit – 25,000 EUR
Maximum leverage – 1:30
Spreads – From 0.0 pips
Commissions on Forex – 0 USD
Commission on shares – 0.06% or 1€/$ Min per side
Commissions on crypto pairs – 0.12% per side
Minimum lot size – 0.01 lots

TSG Broker Professional Account

Minimum deposit – 50,000 EUR
Maximum leverage – 1:200
Spreads – From 0 pips
Commissions on Forex – 0 EUR
Commission on shares – 0.06% or 1€/$ Min per side
Commissions on crypto pairs – 0.12% per side
Minimum lot size – 0.01 lots

As we can see, the minimum deposit is high for global traders, but for the EU, it’s competitive and low. The spreads are competitive, and there are 0 pips options as well, requiring significantly higher capital to trade. Overall, the broker seems competitive and affordable for traders located in the EU.

Deposit and withdrawal options at TSG Broker

When it comes to payment options, the broker supports local bank payments in Cyprus, including: DECTA Limited, Nuvei Limited, Wire Transfer with Eurobank, and Wire Transfer with Bank of Cyprus. There are no bank cards or e-wallets supported, which is a big downside for this broker. The first two options offer instant processing for deposits, while wires require 1-3 business days. Withdrawals take longer, within 1-5 business days, which is long and inconvenient.

TSG Broker Assets — What can you trade?

TSG is a multi-asset forex broker that enables access to a wide range of instruments, including forex pairs, commodities, indices, cryptos, and shares. The availability of both cryptos and shares, together with diverse forex pairs, enables traders to diversify across a basket of different instruments. The leverage is very conservative, and at 1:30, traders will have to deposit more than 100 Euros to enable them to operate even a 0.1 lot position size, which is restricted by CySEC. Overall, the broker seems affordable even in terms of the EU.

Trading platforms of TSG Broker

The broker enables access to the popular advanced trading platform, MetaTrader 5. MT5 supports custom indicators and Expert Advisors, and the broker does not prohibit traders from using advanced tools. There is also a TSG trader available. Mobile trading is available via MT5 and the broker’s app, which is flexible.

Education at TSG Broker

The broker offers educational resources, such as a learning hub, a blog, trading books, and an FX glossary. These resources are very useful for beginners to study what trading is, and the broker also offers a free demo account. Additionally, there is a free economic calendar to monitor important macroeconomic news.

TSG Broker Customer Support

Customer support of TSG is provided via email and phone options. There is no live chat provided, which is a big drawback of this broker, because live chat is the fastest support mode. The broker is not multilingual either, as both the website and support are only available in English.

TSG Broker bonuses and promotions

TSG lacks bonuses, and there are no promotional events either. This is inconvenient for some traders, but not a big issue for truly experienced traders who know what they are doing.

Is TSG Broker your broker? Final verdict

TSG Broker is a CySEC-regulated EU broker offering safety features. Spreads are competitive, especially on higher-tier accounts, and MT5 with EA support is a strong advantage. However, limited payment methods, no live chat, English-only service, and relatively high deposits for advanced accounts may not suit all clients.

Overall, TSG Broker suits EU traders seeking a regulated reading environment with affordable conditions and competitive spreads. But it is still inferior to brokers that are reputable and top contenders in the sector.