TIO Market Review
With the internet evolving and getting more and more global, there appear to be more competitors in the brokerage sphere as well. While the platform has increased very much for the past decades, many of them offer a very good bonus as well as ways of making money. There have been more features since the development of payment means and technologies generally.
Though, in order to make the best profit out of the brokerage, you need to understand the structure quite well. Therefore, we can outline the brokers that potentially can be the best or worst in the listing. While exploring the field and market, think carefully before investing your money.
Remember while investing your capital and time the first thing you want to do is benefit from it and the last thing is to lose your money.
In this article, we will be having one of the leading brokers, TIO Markets review. Although it might seem to be a very attractive opportunity, we will go through the very important details and rate whether it is worth investing or not.
Introduction to TIO Markets
TIO Markets is owned by 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).
FCA is the main regulatory authority in the UK, meaning that if the website is under its authorization, then the website is legit. the other thing is to own a license, which TIO Markets also have, you can check it with provided registration number they, which have indicated on the bottom of the page.
The webpage offers quite an impressive experience with brokerage and at first sight very attractive offers as well. It was found in 2018 and since then has been operating pretty well. The individuals working for the webpage own 40+ years of experience. Despite this information, there can be hidden fees and features that you have to be aware of while making your investment.
The design of the page seems to be very much sophisticated and thematic. Black and orange colors already give you association with brokers and consequently, the orange color most likely indicates that there will be some good offers in terms of financial cases, while black color gives you a feeling of safety and privacy.
It is enough to spend several seconds on the page when 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. When a beginner enters the page for the first time, it will not make a lot of sense for him or her, as at the begining you are not expected to have a specific idea about account types.
The home page looks sophisticated. First what you are going to check is the information about authorization, which is easily accessible both at the bottom of the page as well as right at the top of the tab. There are several options which you can choose, Trading, Markets, About, Contact Page, Blog as well as Education, which is very nice to have. You might feel okay, but soon you will realize that it is not very user-friendly, as the most necessary options that you are looking for are invisible.
Those tabs that you need to find straight away are accounts, deposit, and withdrawal passages. Basically those three are definitive for brokers. According to them, one should decide whether to invest money or not. Those sections should be straight vivid unless you have anything hidden.
The other opportunity is to reach out to the client support, which is organized really well on TIO Markets. They have chatting options in the right lower corner of the page, meaning that they are open to questions and can promptly answer you, without sending an official email. You will also be able to find the exchange rates and spread rates on the home page.
Registration on the webpage seems to be quite easy. You are offered with the registration field straight at the right upper corner of the page. You can also log in and partner button. The last-mentioned one is very useful for checking who the partners are and ensure the validation of the webpage once again. The main page is on English, though you have the option of choosing more than 10 languages.
Accounts And Conditions
After you have a general idea of the webpage, make the next steps, that include account types and trading conditions. There you will find the answer to your question is it worth it or not. 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.
The very important case is the range of leverage as well as spreads and commissions.
In the section of SWAPS, you will find the maximum leverage rate, which is 1:200. The average leverage rate is almost always 1:300. Any other lower indicator is already quite bad. With the existing competition on the market, it is not wise to have such a low leverage rate.
The lower the leverage the more you have to trade in order to earn a valid amount of money. With this said, you can conclude that making money with the mentioned rate will be quite difficult, as well as time-consuming as despite there is no limit for the certain amount of money that you can trade. If this still does not sound like a big deal to you, let’s check some of the other sections, though the leverage rate defines a lot if you want to make money and have addressed the broker for that.
Likely the leverage rate the spread is low, though in this case unlikely the leverage the lower the spread the better it is for your trading.
Spread rate is from 0 to o.3, which is extremely low rate and not all of the brokers can afford this and is very impressive in compliance with the competitors. Though the leverage rate stays low enough not to help the low spreads in terms of trading.
Commission And Fees
Usually what good brokers do not have is commission fee. This can not be said about TIO Markets, as they have an additional commission fee for every additional lot. This can be demotivational especially when you are a newcomer, you will need some time in order to learn how to trade properly, meaning you will need an additional lot. If you are begginer we would not recommend you addressing TIO Markets, as the perspective of losing more money rather than making is to be seen in your case.
A quick fact about TIO Markets, you can pay 49.95$ at once and do not pay an additional commission fee afterward, which is a vivid trick, as you are paying in order not to pay. That does not make sense, does it? If you think that it is better to pay everything at once and then do not have the headache of calculations per lot, we will tell you a secret, that you are not even supposed to pay a dollar commission with good brokers.
TIO Markets offer users three types of accounts. Only one of which is free of charge and only one of which has no commission fees.
- Standard Account. Free of charge, though you have to pay a commission fee of 6$ per lot. Ideal for traders who trade under 5 lots per month.
- VIP Account. 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.
- VIP Black. The cost is 49.95$ per month, with zero commission. It can definitely be the best option out of three. It offers the traders all standard features plus, TIO shield, an additional security measure for your reimbursement within 60 days, TIO reimburses for 60 days, platinum support as well as advanced education. This package has a lot to offer, though a lot to pay for as well.
- The fourth account, which is a very good opportunity for the interested in brokerage poeple is Demo Account. While having Demo Account you are given virtual assets of money that you can trade with. This is the best way to learn to trade and to observe the structure of the market. This is where you can start trading without any risk of losing your money.
Getting Your Money Back
To everyone, it is very important to be able to withdraw the money that you have traded with. Imagine spending a lot of money and effort in trading but not being able to withdraw your money from your account. That would have been a pity, though it can happen unless you read terms and conditions attentively and carefully. Different brokers have different options for money withdrawal, they have special conditions on that as well. Make sure you understand what they require in order for you to be able to cash out.
TIO Markets is definitely doe not have the best searching engine for that section. As it will be difficult for you to find withdrawal conditions on the webpage unless you have opened the terms and conditions document as well as the Client agreement document.
For sure, you have to download and get acknowledged with both, though the information about withdrawal must be easily visible again and again unless there is anything hidden from the client. The only place where you can find additional information about commission and fees for the withdrawal is the clients’ Agreement.
“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.” – it is not written in the stars but in the Client’s Agreement.
This fact lines out the possible additional charges in case of withdrawal of money. Neither there is stated a specific percentage nor the amount, which makes it suspicious as well as unreliable.
Despite, not stating anything about the extra charges, there are proposed several payment methods. TIO Markets accept Visa, TrustPay, UnionPay, BankWire as well as accept cryptocurrency payments.
NOt only it is important how you withdraw money, but for you make the investment as well. There might be a need for deposit, which you have to keep in mind before making any kind of investment.
There are several deposit needing cases on TIO Markets. Conditions about making deposits are also stated in the Client’s Agreement.
- There is specific documentation needed for the registration, though there might be cases, 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 up to 10.000$ and gives the client a maximum of 21 calendar days in order to upload and fill up every necessary field..
- When a client purchases VIP Black Account, s/he is supposed to have a deposit of 1000 USD on the account, this is the necessary amount for initial trading.
- After one has created the ccaount it is necessary that you deposit the minimum required funds into your trading wallet.
While taking the first steps in the brokerage world, you are definitely willing to learn some valuable stuff first and only afterward losing money. In this case with quite high deposit amounts, you are mostly going to spend a lot more before gaining, which can be a demotivator for the continuation of the trades in order to gain.
The good circumstance that you are offered in terms and conditions is 50% reimbursement of your deposit. Though, this applies to the cases when you got stopped with your account subscription for one or another reason with the first 30 days. Da da da, here we came back to the withdrawal of the money. 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.
A Chance for Bonus
What TIO Market has interesting in is the bonus offer for the clients. Who does not want to have a bonus, it is a good motivation to give traders, by TIO Market Forex brokers. Although not that many brokers have a proposal for bonuses, TIO Market has a specific section dedicated to the competition.
TIO Market section of the competition has two categories, for individual and team competitions. There is a very nice outlook as well as interesting design and offers in that section and you can always find some ongoing competitions. The bonus and winning prize is the reason why you will be willing to take part in the competition.
On The Individual Level
Whenever you visit the page you will notice instructions of the competition and the general description of how it works. The individual competition, as well as the team competition, has to get started with the minimum deposit of 500$.
The overall money that will be distributed within the players during the competition consists of 200.000 $. There is, of course, the prize for the winner which is 20.000 USD. The general competition ends here, while the grand final has a lot more to offer. You can win 300.000 USD, which definitely worth trying.
TIO Markets promotion offers the same conditions for the teams as for the individual players. If you find yourself a good team you will be able to try yourself in 4 rounds and if you appear to be good enough, then the winning prize of 300.000 USD will be yours.
Be sure to get acknowledged with the rules of the game, then rely on your skills and of course on your luck.
Can the TIO Markets be Trusted?
While having a dozen of published reviews on your account, which you, of course, can check out, it is easier to compare TIO Markets broker to other competitors. Have in mind all of the pros and cons of the existing field and make your own decisions. You can find some information on their blog as well.
TIO Market rating is quite high, as it has one of the leading positions. This is a valid point, as they certainly have some good features and promotions to offer clients. Though, from the review most likely, you can see the cons as well as pros. Generally, the platform is well designed and quite sophisticated, although it has failed with the adds and user-friendliness at a certain point, as some information is somehow lost within the general content.
There are good spread conditions, though the leverage rate is extremely low, which makes you unable to make a lot of money at once and makes you trade a lot more than you can actually benefit from.
The account types are impressive, especially when we are offered a demo account type, which is very useful for the beginners, though they seem to fail with the withdrawal options as well as having additional charges for the withdrawal and commissions, which is very important while trading online.
The other very important point if choosing TIO Markets is to consider the very high commission fees per lot. This is very uncommon among the brokers, especially when you are not a solo player on the field, so if you have opportunity and choice we would definitely encourage you to consider other options as well.
The main question remains, is TIO Market Fraud or is it legit. No doubt that it is for sure TIO Market is legit. Overall the website is authorized, which means it is legit and has the proper license. They have good offers, but they do bad with the most important features. Due to that reason, we would advise you to reconsider your choice and take into consideration the terms and conditions, as well as the Client’s Agreement. It is vivid that they have included the most tricky as well as important facts in the documentation, which mostly is hoped that no one will even read.