WikiFX Review: TP Global FX, things to know before investing

About TP Global FX

Established in 2017, TP Global FX is a forex and CFD broker registered in St. Vincent and the Grenadines. TP Global FX claimed to offer more than 150 market instruments including Forex currency pairs, Metals, CFDs, Indices, Stocks, and more. WikiFX has given this broker an excellent score of 7.45/10.

Regulatory Status

This broker is a regulated broker. It is regulated by Financial Services Commission FSC with license number: GB21026474.

Account Types And Minimum Deposit

TP Global FX offers investors three different types of accounts, the Standard Account (minimum deposit of $200), the Pro Account (minimum deposit of $500), and the Institutional Account (minimum deposit of $25,000). The minimum initial deposit of an acceptable $200 is in line with industry standards.

Leverage

Trading leverage differs depending on trading accounts. The Standard and Pro accounts offer the maximum leverage of up to 500:1 for forex and precious metal trading. The institutional account offers maximum leverage of up to 1:200. Since trading leverage can magnify gains as well as losses, traders should take care when using it.

Spreads & Commissions

Trading costs (spreads & commissions) are significantly affected by what trading accounts you are holding. The minimum spread for standard accounts starts at 0.1 pips, and no commission is charged for trading. The minimum spread for Pro accounts starts from 0.2 pips, with a commission of $15 per lot charged. Institutional accounts have spreads starting from 0.1 pips and commissions of $8 per lot.

Trading Platforms

TP Global FX offers both MT4 and MT5 to its clients.

Customer Support

TP Global FX provides clients with a client support team who are available 24/5 and can be reached via telephone (+44 7441 416320), email (support@tpglobalfx.com), Live Chat, and social media.

TP Global FX on Social Media Platforms

Twitter

Unlike other brokers‘ Twitter accounts, we cannot see TP Global FX’s tweets unless we follow its account.

Facebook

Conclusion

7.45 is a decent score. If you are seeking a solid broker to invest, TP Global FX may be a good choice. But keep in mind that always be vigilant as forex trading is risky.