TigerFX Forex Broker

Unregulated - High Risk

WikiFX Link Visit website ↗

Trust Score

4.2

OUT OF 10

Pros

Offers multiple trading platforms including MetaTrader 4 and MetaTrader 5 with full functionality
Fast deposit and withdrawal processing based on user reviews
Competitive spreads starting from 0.0 pips on major currency pairs
No minimum deposit requirement making it accessible for new traders
Comprehensive range of trading instruments including forex, stocks, cryptocurrencies and commodities
Provides educational resources and trading tutorials for beginner traders
User-friendly mobile trading apps available for iOS and Android devices

Cons

Complete lack of regulation from any recognized financial authority poses significant risks to client funds
No client fund segregation or investor compensation protection schemes in place
Limited transparency regarding company ownership and operational structure
No negative balance protection guaranteed for trading accounts
Potential issues with withdrawals during volatile market conditions due to lack of regulatory oversight
Customer support quality and response times vary significantly based on user feedback

Basic Information

Company

TigerFX

Region

Unknown - No Clear Regulatory Jurisdiction

Established

2015

unknown

Phone

unknown

Website

thetigerfx.com

User Reviews

James Wilson United Kingdom

★★★★☆

I've been trading with TigerFX for the past 6 months, primarily focusing on forex pairs and some crypto CFDs. The MT4 platform works smoothly and execution speed is generally good during main market hours. I appreciate the competitive spreads, especially on major pairs where I regularly see 0.2-0.3 pips on EUR/USD. Withdrawals to my Skrill account have been processed within 24 hours as promised. The main concern is obviously the lack of regulation, but I keep my trading balance modest to manage risk. Customer support has been responsive through live chat, though email responses can be slow.

Chen Wei Singapore

★★★☆☆

Been using TigerFX for 4 months trading cryptocurrencies and forex. While the platform is stable and spreads are competitive, I've experienced some issues with weekend crypto trading when volatility is high. Initial withdrawal took 5 days to process with multiple document requests, though subsequent ones were faster. The mobile app works well but could use more features. Support team is helpful during Asian hours but response times vary greatly. The lack of regulation is concerning, especially when trading larger amounts. Would prefer more transparency about company operations.

Maria Santos Spain

★★★★★

Trading with TigerFX since early 2023, mainly EUR/USD and GBP/USD pairs. The platform execution is reliable and I haven't experienced any significant slippage. Started with $500 and have made several successful withdrawals, all processed within the promised timeframe. The educational materials helped me understand market analysis better. Their mobile app is particularly useful for tracking positions on the go. While I'm aware they're not regulated, I've had no issues with their service. The spreads are consistently low during main market hours and the MT4 platform runs smoothly.

Overview

TigerFX is an online trading broker established in 2015 that provides trading services for forex, CFDs, cryptocurrencies and other financial instruments. The company operates primarily through its online platform and mobile trading apps, targeting retail traders globally. While the broker offers competitive trading conditions including tight spreads and multiple platform options, it notably lacks regulation from any major financial authority, which poses significant risks for traders. The broker provides access to MetaTrader 4 and MetaTrader 5 platforms along with proprietary solutions, catering to both beginner and experienced traders. Trading conditions include variable spreads starting from 0.0 pips, multiple account types, and a range of deposit/withdrawal methods. However, the lack of regulatory oversight means client funds do not benefit from standard protections like segregated accounts or compensation schemes. The company appears to focus on cryptocurrency and forex trading, offering leverage ratios that can exceed regulatory limits imposed in regulated jurisdictions. While some clients report positive experiences with deposits and withdrawals, the unregulated nature of the broker means traders have limited recourse in case of disputes or issues. The broker attempts to attract clients through competitive trading conditions and educational resources, but the absence of proper regulation remains a major concern for fund security.

Is TigerFX Safe? Regulation Analysis

TigerFX operates without regulation from any recognized financial authority, which represents a significant risk factor for potential clients. The broker does not hold licenses from major regulatory bodies such as the FCA, ASIC, CySEC, or other tier-1 regulators. This lack of regulatory oversight means several critical protections are absent: there is no requirement for client fund segregation, no mandatory external audits, no minimum capital requirements, and no participation in investor compensation schemes. Traders have no regulatory body to file complaints with if issues arise. The broker can offer higher leverage and fewer trading restrictions than regulated firms, but this comes at the cost of client protection. The absence of regulation also means the company is not required to maintain specific operational standards, submit regular financial reports, or undergo periodic compliance reviews. Clients should be aware that trading with an unregulated broker puts their capital at significant risk, as there are no regulatory safeguards in place to protect against broker insolvency, misconduct, or other issues that could affect client funds.

Trading Products and Services

Forex Trading: Over 50 currency pairs available including major, minor and exotic pairs with competitive spreads starting from 0.0 pips. Major pairs include EUR/USD, GBP/USD, USD/JPY with flexible leverage options
Cryptocurrency Trading: Access to major cryptocurrencies including Bitcoin, Ethereum, Litecoin and others with 24/7 trading availability
CFD Trading: Wide range of CFDs on stocks, indices, commodities including gold, silver, oil, and major stock indices like S&P 500, FTSE 100
Stocks: Trading available on major US, European and Asian stocks with competitive commissions
Commodities: Access to precious metals, energies and agricultural commodities through CFD trading
Indices: Trading available on major global indices with competitive spreads

Trading Platforms

MetaTrader 4: Industry-standard platform offering advanced charting, multiple order types, Expert Advisors support, and customizable technical indicators. Available for desktop, web, and mobile devices
MetaTrader 5: Next-generation platform with additional features including more timeframes, improved charting tools, and advanced market analysis capabilities
Mobile Trading: Dedicated mobile apps for iOS and Android devices offering full trading functionality, real-time quotes, and account management features
WebTrader: Browser-based trading platform requiring no downloads, offering essential trading features and real-time market data

Deposit and Withdrawal

Deposit Methods: Credit/debit cards (Visa, Mastercard), bank wire transfers, popular e-wallets (Skrill, Neteller), and cryptocurrency deposits accepted
Minimum Deposit: No fixed minimum deposit requirement, though recommended starting balance of $100
Processing Times: Card and e-wallet deposits processed instantly, bank transfers typically take 2-5 business days
Withdrawal Methods: Same as deposit methods, withdrawal processing time varies by method
Withdrawal Processing: E-wallet withdrawals typically processed within 24 hours, bank transfers 3-5 business days
Fees: No deposit fees charged by broker, withdrawal fees vary by method and amount

Customer Support

Customer support at TigerFX is available through multiple channels including email, live chat, and an online help center. Support hours are generally 24/5 during market trading hours. Response times vary significantly based on user feedback, with live chat typically providing the fastest response. The support team can assist with account issues, trading platform questions, and general inquiries in multiple languages including English, Chinese, and several European languages. However, the quality and consistency of support services appear to fluctuate, with some users reporting delayed responses during peak trading hours. The broker maintains an online knowledge base with trading guides and FAQs, though the depth of educational content is limited compared to regulated brokers.

Frequently Asked Questions (FAQ)

Q: Is TigerFX a regulated broker?
A: No, TigerFX currently operates without regulation from any major financial authority. This means client funds do not benefit from regulatory protections such as segregated accounts or investor compensation schemes. Traders should be aware that trading with an unregulated broker carries significant risks to their capital.

Q: What trading platforms does TigerFX offer?
A: TigerFX provides access to both MetaTrader 4 and MetaTrader 5 platforms, available on desktop, web, and mobile devices. These platforms offer comprehensive charting tools, multiple order types, and automated trading capabilities through Expert Advisors.

Q: How can I deposit and withdraw funds?
A: The broker accepts deposits via credit/debit cards, bank wire transfers, e-wallets, and cryptocurrencies. Withdrawals are processed through the same methods, with e-wallet withdrawals typically being fastest at 24 hours, while bank transfers may take 3-5 business days.

Q: What are the trading conditions like?
A: TigerFX offers variable spreads starting from 0.0 pips on major pairs, multiple account types, and access to various financial instruments including forex, cryptocurrencies, and CFDs. However, due to lack of regulation, trading conditions and execution quality may vary significantly.