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TMS Brokers Review – is it scam or safe?
RECOMMENDED FOREX BROKERS
Trading Accounts and Conditions
|Trading account||Min. deposit||Max. leverage||Spread|
TMS Brokers is a Polish brokerage firm with many years of experience in the financial market. It doesn’t seem to offer different account types, but the trading conditions are pretty attractive. Furthermore, the broker is licensed to operate throughout the EU and supports the industry leading MetaTrader5 platform. Here are our impressions of this broker, after we made a thorough research on the company and tested its platform.
TMS Brokers Advantages
Sound regulation, over 14 years of experience
TMS Brokers is owned and operated by Dom Maklerski TMS Brokers SA, a company licensed by the Polish Financial Supervision Authority (KNF). The broker has been operating for more than 14 years, and also had a Maltese brand, TMS Europe.
As Poland is a part of the EU, local forex brokers have to comply with all the rules set on a European level, which include a leverage cap of 1:30, provision of negative balance protection, ban on trading incentives such as bonuses, and more. All these measures are aimed at investor protection and give significant assurance for the security of traders’ funds.
Transparent and competitive pricing
Another thing we like about TMS Brokers is its transparent pricing policy: the broker has live market quotes on its website for all tradeable assets, and the fees charged on the different CFDs are presented in a very clear and precise way, which is not the case with all forex providers.
TMS Brokers’ demo web MT5. Click on the image to zoom in.
Furthermore, the trading costs with TMS Brokers are quite low – for example, the benchmark EUR/USD spread is floating around 0.9 pips.
Ideal for beginners!
Free Demo Account + Free Trading Education!
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Access to MT5, wide range of financial products
As was mentioned above, TMS Brokers allows you to access the global financial markets via MetaTrader5 (MT5). The MT5 is the latest edition of the MetaQuotes’ software, and is highly valued for its great charting and analytical tools, support for automated trading via EAs, customization options, as well as for the opportunity it offers for trading in derivatives and exchange-traded stocks from the same account.
That being said, TMS Brokers offers huge selection of assets for trade, including many currency pairs, and a wide variety of CFDs, allowing for portfolio diversification, which helps manage risk. More specifically, the broker’s CFD product range includes commodities, indies, stocks, and the most popular cryptocurrencies.
No min. deposit required, fast withdrawals
Clients of Deposit TMS Brokers can deposit any amount of money to start trading, even a couple of Euros. There is no minimum deposit required, however, the broker advises traders to deposit at least 100€ in order to meet the requirements of free withdrawals. Besides, the withdrawal process takes up to 3 days.
TMS Brokers Disadvantages
TMS Brokers provides a maximum leverage of 1:30 for forex trades, which would be insufficient for many traders, yet this is in line with the regulatory requirements applicable to the broker.
As some of you are probably aware, in August 2020 the European Securities and Markets Authority (ESMA) restricted the maximum leverage allowed for retail forex traders on the European market to 1:30 due to investment protection concerns. That being said, the KFN introduced a leverage cap of 1:100 before ESMA did, back in 2020.
Limited payment methods
TMS Brokers does not offer a variety of deposit and withdrawal methods. The broker uses bank wire transfer, credit/debit cards and e-wallet Skrill. Withdrawals are only allowed via bank wire.
Overall, TMS Brokers is a forex provider we can recommend – it has many years of experience and is licensed in Europe. Besides, the broker offers trading in wide range of financial assets on the industry leading MT5, and its trading conditions are really good.
If you are looking for a well-regulated EU brokerage, you may also check out our list of reliable brokers licensed in Cyprus.
To sum up our review of TMS Brokers in a few words:
|Sound regulation||Conservative leverage|
|Transparent and competitive pricing||Limited payment methods|
|Access to MT5|
|No min. deposit required|
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TMS Brokers Review: Is Tmsbrokers.com A Legit Forex Broker?
Tmsbrokers.com Review: this is the website of a Forex broker that is based in Poland. Is TMS Brokers a scam broker or a legit one? Before you invest funds with this broker, read this review first to find out important details about it.
The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.
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TMS Brokers discloses that it is a Forex broker operating in Poland. Trading in the forex market in this region is under the jurisdiction of the Polish Financial Supervision Authority (KNF). When we checked the online register, we discovered that this is truly a licensed and registered company.
It is always encouraged to trade with licensed brokers because they are mandated to follow trading rules. Also, the authority regulating them monitors their activities and looks into issues that clients might have with them.
Advantages of TMS Brokers
It is a licensed broker in Poland which places it under the regulations followed by European based Forex brokers. The broker offers a trading App that can allow traders get trading signals, see other trader’s investment and trade from their mobile.
It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.
To help clients stand better chance of making profit, it applies no commission, spreads are transparent, there is negative balance protection and many more.
TMS Brokers Trading Platform
TMS Brokers grants traders an access to use the MT5 platform when using its services. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.
Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.
These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.
Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.
Trading instruments offered to traders are: currency pairs, energy, metals, cryptos, index, stocks, and ETFs. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.
Maximum leverage offered to clients is 1:30 and while this may not seem generous, it is advisable. High leverages can lead to huge loss of funds as well. Spreads are 0.9 pips on the EURUSD pairs.
Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.
Deposit and Withdrawal methods on TMS Brokers
The means that traders are to use to make deposits are: VISA, MasterCard, Bank Wire, and Skrill. Withdrawals are only allowed via bank wire. The limited transaction options are not encouraging.
This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.
Minimum deposit required is as low as $1 and this is encouraging because it is within the obtainable of average of $100 to $250 that is common among legit brokers. Withdrawal fees are not mentioned and this may be because they do not apply. However, we will appreciate it if this is stated.
This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.
Is TMS Brokers Licensed?
Yes. TMS Brokers is a properly licensed and registered Forex broker. It is under the watch of the Polish Financial Supervision Authority (KNF).
Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.
On accessing the website of this broker, a link is provided for clients to have a Facebook chat with an agent of the customer support service.
TMS Brokers is regulated by one of the top Forex authorities in the world, we rate it highly because of security of funds. The minimum deposit requirement is quite affordable and spreads are tight and encouraging.
Although the leverage is not as generous as some traders might like, it is quite advisable. Want to say anything about this broker? We would like to hear from you in the comment section.
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TMS Brokers Review
TMS Brokers is an online broker firm, which is the first licensed Forex trader in Poland. Their website offers Polish-speaking users easy access to information about the company, as well as the products and services offered on the site in order to perform a TMS Brokers review.
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