Is Templer FX legit broker or do you need to avoid it at all cost?
TemperFX is one of the brokers that could be used as an example of the scam brokerage. It was established in 2004 and is operating for more than a decade. However, it is worth to put this statement under the question mark. There is not much information about the broker and only several Templer FX reviews and opinions by the traders. It is already suspicious, as any broker with the 10+ years of experience I can think of has multiple reviews and dozens of opinions. The regulation of the broker does not talk well about it either. Templer FX is regulated by the Financial Services Authority of Saint Vincent and the Grenadines. Hence, non-surprisingly the broker does not offer its services to the people living in the United States, United Kingdom, European Union, and Japan. At first glance, the offerings of the broker look too good to refuse: a variety of accounts starting from the minimum deposit of 25 USD, the leverage as high as 1:2000, all kinds of bonuses including no deposit bonus, deposit bonus, 100% bonus and loyalty program. To say shortly, everything a trader could wish for. If you got excited about it and think to open an account, do not rush because all of these might just be a part of Templer FX scam.
Is Templer FX legit?
Let’s get to know the broker better. The company that operates Templer FX broker is Templer Holdings Management limited, a Saint Vincent and the Grenadines-registered company. There are some of the inconsistencies between the information that the broker provides and reality. As the broker suggests the company was established in 2004, however on the website it suggests that TemplerFX has 12 years of experience. Which means that either the information provided is incorrect, or the broker does not care much about updating the information. Another shady thing is that the broker has the license certificate from not so reputable regulator Financial Service Authorities of a Saint Vincent and the Grenadines. After spending some time on the website of the regulator I was unable to find the confirmation that the broker actually has a valid license. However, the broker provides a PDF file of certification which reads that the broker was authorized only in 2016! Knowing this, can Templer FX be trusted?
Templer FX scam revealed
There is some other evidence that points out that Templer FX is not a very trustworthy broker. Let’s start from the website which should provide full information about the broker. It does not really look well and gives the impression that the broker has not changed anything since the website was first created. But design is not the only issue I came across when making Templer FX.com review. The navigation is not very handy and it is not easy to find what you are searching for. Even if you will find it the information will leave you unsatisfied. There is not much information provided neither about the broker nor about its service. The broker wants to create an impression that it cares about the education of the traders but has two educational articles only. Most of the content placed on the website is outdated. The way the content is distributed on the website makes it clear that the broker tries to lure the customers with different Templer FX bonus offerings. The technical aspect is not something I was pleased with either, landing time from one page to another is not that fast and the website is not responsive.
Trading with Templer FX
Templer FX offers several types of accounts: Universal FX where the minimum deposit is 25$, Cent FX with a minimum deposit of 1 USD, MAM where you need to fund your account with minimum 1000$ and segregated account where the minimum deposit is as high as 50,000 USD. Not surprisingly, the broker highlights MAM and segregated account where the minimum deposit requirements are highest. However, if you will see the features that come with these accounts you will find out that there is absolutely no difference. There is no other information provided what differentiates these accounts and why the trader should choose MAM or segregated accounts. As it seems it is just part of Templer FX scam and broker is simply betting on the cheap psychological trick.
For all of the account types, the leverage is up to 1:2000 which is dangerously high, especially for the low budget accounts such as the Cent account or Universal FX. Allowing the traders to have such high leverage at all times does not speak well for the broker.
Templer FX support
On the website, the broker claims to have a professional support team that assist the traders in no time. Therefore I decided to try it out while preparing the Templer FX review. Today the most convenient way to get answers on your questions is to write broker representative in the live chat. There is an option for this on the broker’s website but unfortunately, it does not work. The Live chat link goes to another website and says that it does not exist. So live chat was a big disappointment. The other way to get to the broker would be an email or phone number. But the broker did not wish to display any of this information. You can either send the email directly from the website or request a phone call and send the broker your personal information. In the first case, you cannot really be sure that the broker will reach you, in the second case you might be the victim of dozens of emails or calls. The absence of such crucial information leaves us with the thought that Templer FX fraud is real. Otherwise, any reputable broker would want to provide assistance as fast as possible to ensure that the customers are satisfied with the service. On the other hand, scam brokerages do not really like to provide this kind of information to their victims.
Templer FX opinions
Another thing that I found suspicious is the lack of reviews or opinions from the customers of Templer FX. If the broker has 12 years of experience as it claims on the first page of the website it should have a lot of customers that were trading with it at some point. It is also safe to assume that a good broker would have a lot of satisfied traders and some of the unsatisfied ones. But There are not many Templer FX opinions which could mean two things – first, the broker does not really have 12-years experience and is claiming so to look more legit, or it is unsuccessful even in scamming people. Either way, I do not think anyone would like to trade and invest money with this kind of brokerage.
Should you trade with Templer FX?
I am sure I have already answered this question for you. The broker is clearly leading some kind of Templer FX scam. Everything about the broker looks suspicious – being regulated offshore, having a sketchy website that does not work well, encouraging investing more money and the list goes on and on. The main point is that with this broker you will not find anything rather than trouble. Even if you decide to trade with it you will not have any possibility to reach the broker by yourself and get help from it and you will not be able to reimburse your money when the broker takes the profits from you, after all, they have some other things to do in Saint Vincent and the Grenadines. Hence, if you want to protect your money stay away from Templer FX broker.