Header help text

Start trading with a free $30

There is no better time than now
Your first deposit is on us


Grab your $30 from XM

Templer FX Broker Review

Templer FX Broker Review

Minimum deposit

25$

Bonus

N/A

Maximum leverage

1:1000

Year founded

2005

Regulation

FSA

Trading platform

MT4, Custom

This post is meant to warn forex traders against using this broker as well as highlight the various ways such brokers manage to get away with forex scams. The Templer FX scam is also, unfortunately, very unsophisticated. I’m not saying that scams are a good thing, but I like to get that eureka moment when I realize where something is wrong. In this case, the warning signs are so obvious I found myself yawning as I kept checking off the usual checkboxes of a scam broker. Nevertheless, keep reading and perhaps you won’t ever fall into such traps ever again.

Is Templer FX legit?

At first glance, Templer FX seems to be a legitimate broker. The trademark Templer FX is used by Templer Holdings Management Limited, which is licensed to the Financial Services Authority (FSA) of Saint Vincent and the Grenadines. The provided license number is 23395 with the FSA and FSP161410 with the Financial Service Provider Commission.

Is Templer FX legit

However, I was taught never to judge a book by its cover, a philosophy that works both ways. So, after I’m done looking at what they want me to see, I dig deeper to see what they are hiding.

Can Templer FX be trusted?

I had a hard time trusting Templer FX especially after looking at the Templer FX reviews on several broker review websites. Actually, I should say, a lack of reviews; the number of reviews for Templer FX can be counted in one hand. A lack of reviews does not directly translate to a scam, but you should be wary of such brokers. I understand that every company had to start from the bottom, but why risk being the Guinea pig that finally alerts the rest of us. Not when there are so many other proven brokers out there.

Besides, ask yourself why a company that boasts of being founded back in 2004, more than a decade ago, would have so few Templer FX opinions. I know of many forex brokers who are less than 5 years old that have pages of reviews you can’t go through in one seating. So, why does Templer FX have so few of them. Perhaps they haven’t been around as long as they say they have been; and that’s the first red flag.

Templer FX broker review

In fact, a check of the PDF attached to the broker’s website reveals that they received their license in 2016! Isn’t it convenient that they can brag about being among the pioneers in the industry and escape decades of criticism?

What really irked me about Templer FX forex broker, though, was their financial regulator, the FSA. While the FSA is not a bad regulator itself, they are not among the top 5 in trustworthiness. I have found that many scam brokers choose these offshore regulators who turn a blind eye to their clients’ wrongdoing just so that they can receive the annual license fee and pay their staff.

Think about it, if you worked for an independent institution like the FSA, would you push away potential clients by acting tough? You would rather let them slide on minor offences because, after all, it is unlikely someone will fly to Saint Vincent just because they were scammed for $1,000. I also know this is a cynical view of the world, but it’s the reality as I’ve seen it in my years of forex trading.

Templer FX broker

Worse still, you can’t even check through the FSA website to confirm if Templer FX is actually a client of theirs. That’s one of the problems you face when dealing with such financial regulators.

From the flimsy regulation and questionable company profile based on their own website and client reviews, I would not recommend working with Templer FX. If anyone at Templer FX would like to shed some light on their employer, the floor is open in the comments section below. This Templer FX review was not to bash anyone, but to ask the serious questions most traders ignore.

Templer FX Broker Review Overall rating: ★☆☆☆☆ 1.2 based on 4 reviews
5 1

Too many scams

★☆☆☆☆
1 5 1
There is nothing much to say about them. Withdraw was not possible!

Avoid this one at all cost!!!

★☆☆☆☆
1 5 1
Avoid this company and safe yourself a lot of trouble. I paid 250 pounds just to try it and they just kept asking for more and I kept saying no not interested in putting lots of money into something I know little about. They just kept calling asking for more money with aggressive sales pitch. I just sent them email and called them saying not to contact me again. They just ignored it and kept calling. They called from redirected phone lines from lots of different countries so every time I blocked them they just call from a different line. Don’t go near this company their practice are as extremely aggressive, as far as my experience of them is they use aggressive sales pitch just to extract money from you. I will be reporting this company to their regulators.

Don't give them your money

★☆☆☆☆
1 5 1
Be sure, the money you deposit, you will never see again.

nothing good

★★☆☆☆
2 5 1
I have been trading with Templerfx for a bit, can't recommend it at all

Traded this broker? Submit your review!

Rating

Comments (1 comment(s))

Chisu
March 14, 2018
Met all requirements and also the minimum deposit of $10. But my profit was denied me with the excuse that I breach their maximum 0.3 lot size rule. I wasted my time and effort for nothing. Stay away. SCAM SCAM