TIO Market Review
While surfing the net, we tackle a lot of offers and a lot of different options for money input and investment. Brokerage platforms have increased very much for the past several years. Many of them have very valuable information as well as really good offers. While the competition is high, competitors keep evolving and adding features to their services in order to make the best of the profit and to occupy the leading positions in the lists.
Despite having many competitors on the market, several of the brokers can still be highlighted among the others. Though, while exploring the field and thinking of investing your money in trades, you should consider all of the options and make a wise choice, in order to avoid losing money rather than gaining.
The article will be focused on the TIO Markets review, we will go through some of the details that you should consider or maybe even reconsider. We will focus on uncovering points that might not come to your sight straight away, though you must be aware of.
TIO Markets is owned and affiliated with the Ultimate beneficiary owner TIO Markets UK Limited. TIO Markets UK Ltd is registered in the UK and is authorized and regulated by the Financial Conduct Authority (FCA).
Coming out of the information the website is definitely legit and licensed. A license is a very important part of the inquiry. Whenever you decide to take up online trading, make sure that the broker owns the proper license and is authorized by the local financial authority. With these words said, we can definitely tell you that TIO Markets are legit. They do have indicated their registration number, with the help of which you can check it in case of need.
They offer you 40+ year experience in trading as well as innovative approaches, well at least that’s what is said on the first page of their website. We offer you following us on the review and discovering whether the information is true and if so, is it worth making your first investment being made with the TIO.
With the first entry to the website, you will have nice graphics and smooth flow of the structure. You will have the cookies ad right at the bottom, which you have to accept. Though, a quite annoying window pops up at the right side for the VIP account subscription every time you reload the website. This is definitely not the best thing beginner wants to see on the broker’s webpage.
The information about authorization can be seen both at the bottom of the page as well as right at the top row. Despite having quite a few buttons such as trading, markets, education, about, contact page, blog and competition it still lacks some of the information buttons such as information about leverage, deposit or withdrawal of money. So, in order to find some more information you have to check most of the sections, which can be less motivational and tiring, as those are the most prerogative subjects the beginner is seeking for.
The webpage has the support chat right in the lower right corner, which can be useful in case you could not find a proper answer to your question.
Right at the home page, you can find information about accounts, which we will evaluate further. You will also be able to find the exchange rates and spread rates on the home page.
The registration button is on top, together with the sign-up button. That is very easy if you are already up to making an investment in the TIO markets.
After you have had a glance at the website and got the general idea of it, the next thing that matters the most is trading and conditions, because that’s why you came for. As mentioned above, there is a section for trading on the home page. You can see several options there such as platform, VIP black, subscriptions, swaps, spreads and commissions, trading conditions and FIX API.
There should be several priority questions for you while starting trading online. The rate of the leverage, spread, and commission together with the TIO Market withdrawal opportunities and conditions.
The maximum leverage that you will be able to see indicated on the webpage, in the section of SWAPS is 1:200. While considering the fact that the average leverage amount is 300, they do not offer costumers even the average leverage. 200 – considering the market competition and the proposals of the other competitors is very low. The lower the leverage the more you have to trade in order to have a decent amount of money on your account. With this said, you can conclude that making money with the mentioned rate will be quite hard, as well as time-consuming as there is a limit for the certain amount of money that you can trade. If that is not why you came for, it definitely is not the best broker you can address.
Comparing to the leverage index, we can say exactly the opposite about spread. The spread is extremely low, which consists of 0.1 to 0.3 maximum. Even comparing to the other competitors, the spread index is very low, which can be impressive if not the extremely low leverage.
Usually, when addressing the brokers for the initial investments, the best option is that you have no commission fee. The commission fee applies to all the additional lots. When there is a commission, it means that most likely they are making more profit out of you than you can make yourself. Unfortunately TIO Market is not an exception.
There are three different account types, that we will define right in the next paragraph, the real quick information is that, only one account of three does not have the commission fee to be paid per lot. Moreover, the commission fee being 6$ per lot, there is an additional condition. You are proposed to pay 49.95$ at once so that you do not fee an extra 6$ per lot afterward. So basically, what they offer is, “Pay now, for not paying after, the payment which will anyways be paid.” The numbers might mess you up and make you think, that it is better to pay once rather than every time. NO, it does not work like that. You are not supposed to be paying any commission fees at all.
As mentioned above in the review, TIO Markets offer users three types of accounts.
- Standard Account that is free, though you have to pay a commission fee of 6$ per lot. (Ideal for traders who trade under 5 lots per month – they say)
- VIP Account, which costs 24.95$ per month, with the commission fee 2 $ per lot. The Account is ideal for the traders who trade up to 5 lots per month The account has priority support and level 1 education included in the package.
- VIP Black Account. The cost is 49.95$ per month, with zero commission. Which still sounds like the best option out of all three. It offers the traders all standard features plus, TIO shield, (which is an additional security measure for your reimbursement within 60 days) TIO reimburses, platinum support as well as advanced education. This package definitely has a lot to offer, as well as a lot to take.
- Demo-Account. The account is free and is one of the best options and offers proposed by the broker. This is where you can start trading without any risk of losing your money. The money asset is virtual and the trades are virtual as well, though it is the best opportunity to learn to trade.
CashOut, Withdraw your money
The last but definitely not the least is conditions on the withdrawal of your money. After you have put quite a lot of time and energy as well as money in your trading, you will be willing to get your money and withdraw it from your account. Many brokers have different options for that procedure.
While searching for that term on the webpage, you will have difficulties to find it, as there is no specific section dedicated to the withdrawal. The only place where you can find additional information about commission and fees for the withdrawal is the clients’ Agreement contracts.
There they state “Fees might also be applicable for the withdrawals and the online card payment as stipulated on the respective pages of the Company’s website or anywhere else in this Agreement. The Company may change its commissions, spreads and financing fees from time to time without providing prior notice to the Client. ”
The above-mentioned fact highlights the possible additional charges in case of withdrawal of money. Neither there is stated a specific percentage nor the amount, which makes it slightly suspicious as well as unreliable.
Despite, not stating anything about the extra charges, they have indicated payment methods. TIO Markets accept Visa, TrustPay, UnionPay, BankWire as well as accept cryptocurrency payments.
Together with the withdrawal of your money on the account, you should take into consideration the existence of the initial deposits.
There are several options for the deposit on TIO Markets.
- Whenever you do not have proper documentation uploaded needed for the registration process, then you are required to have a certain amount of deposit, which can be 10.000$ even and gives the client a maximum of 21 calendar days in order to upload and fill up every needed documentation.
- When a client purchases VIP Black Account, s/he is supposed to have a deposit of 1000 USD on the account.
- After one has created the ccaount it is necessary that you deposit the minimum required funds into your trading wallet.
Additionally to everything, it is not really something you would definitely go for. In the beginning, it seems like you are giving out more money than you seem to get back.
Though, as indicated in the terms and conditions you will have 50% of reimbursement of your deposit, in case you got stoped with your account subscription for any reason within the first 30 days. And here we are, there is a trick. If you decide to withdraw your money within those mentioned 30 days, then you are not likely to receive any kind of reimbursement of your initial deposit. Watch Out.
One of the interesting offers for clients is bonuses.
It is an additional motivation for the traders if they are offered any kind of bonus by TIO Market Forex brokers.
TIO Market has a section of the competition, which can be really handy. It has two categories, for individual and team competitions. There is a very nice outlook in that section and you can always find some ongoing competitions. The bonus and winning prize is quite a valid number.
The section has included most of the focal subjects. Such as, description of how does it work, or the general structure. The individual competition starts with a minimal deposit of 500$. Over 200.000 USD is being distributed over the rounds for each top individuals. The winning prize consists of 20.000 USD. That is for the general competition, for the grand final you have the opportunity to win 300.000 USD. The number is fascinating doubtlessly.
TIO Markets promotion for the team competition is the same as goes for the individual. You are able to team up and play 4 rounds. Afterward luckily you will appear in the grand finale, and even more, luckily win up to 300.000 USD.
Anyways, Can the TIO Markets be Trusted?
We have published several reviews, including TIO Market review. In comparison to other brokers, you can have a clear idea of the strong and weak points of the last mentioned.
TIO Market rating is quite high, it has one of the leading positions. This is a valid point, as they certainly have some good features to offer clients. Though, from the review hopefully, you can see the cons as well as pros. Generally, the platform is well designed, although it has failed with the adds and user-friendliness at some points, as some information is somehow lost within the sections.
There are good spread conditions, though the leverage rate is extremely low, which disables you from making a lot and makes you trade a lot more than you can actually benefit from.
The account types are impressive, especially when we see a demo account type, which is very useful for the beginners, though they seem to fail with the withdrawal options as well as additional charges for the withdrawal, which is very important while trading online.
The other very important point if choosing TIO Markets is to consider the very high commission fees for lots. This is very uncommon among the brokers, so if you have opportunity we would definitely encourage you to consider other options as well.
The main question is TIO Market Fraud or is it legit, is for sure it is legit. Overall the website is authorized, which means it is legit. They have a good offer, but they fail in the most important features. Due to that reason, we would advise you to reconsider your choice and take into consideration the terms and conditions, that looks like a lot less impressive than the winning prize number for the grand final of the competition.