TitanFX is a trading broker present on the market since 2014. The company has been registered offshore, away from credible license providers.
Our in-depth TitanFX review will tell you all you need to know about the brokerage, including its current status. Let’s see if your money is safe or not.
Technically speaking, yes. We have TitanFX regulation with VFSC of Vanuatu and FSC of Mauritius. However, you should know that both these license providers belong to a Tier 3 zone.
We have different tiers for different regulators. The firmest ones with the highest demands and strict control over Forex and CFD brokers belong to a Tier 1 zone. Those would be regulators such as FCA, ASIC, and BaFin.
On the other hand, offshore license providers have loose control over brokers and meager requirements. Unlike Tier 1 authorities that require nearly a million dollars of minimum capital, offshore regulators often ask for $20,000-$100,000. Additionally, they don’t limit leverage, unlike ESMA in Europe and other regulators in their respective jurisdictions.
So it’s clear that investing with an offshore broker doesn’t bring the same level of safety as trading with a duly licensed European, US, or Australian firm.
TitanFX is an offshore broker registered in Vanuatu. While the firm is licensed by the offshore authority, it received a ban from a Tier 1 regulator, JFSA.
While offshore brokers technically have a worldwide license, they cannot operate in countries where there’s a strict demand for local authorization. Hence, the Japanese ban.
If there’s one positive thing, that’s undoubtedly the TitanFX trading platform. The company offers MT4, MT5, and WebTrader. Additionally, you can choose Titan FX Social, a copy trading app enabling you to copy trades of different investors.
As you surely know, MetaTrader is the most popular trading app today. Both MT4 and MT5 contain a large number of trading features, various add-ons, and tools for in-depth analysis.
Whether you’re a trading newbie or a seasoned investor, you can surely find a way to use these platforms for your benefit. Both are pretty user-friendly and intuitive.
In addition to MetaTrader, TitanFX offers a proprietary WebTrader. It’s a simpler version of trading software with fewer features. However, it can be suitable for new investors who want to familiarize themselves with the market first before jumping to all MT has to offer.
Finally, the broker offers mobile apps too. Both MT versions come with dedicated apps for Android, iOS, and Huawei. Since Apple banned MT in September 2022, users of Apple devices will have to log in through a web browser.
The broker offers trading across five classes of trading instruments, those being:
As you can tell, the offer of stocks is somewhat limited, only to the US market.
Fees and spreads largely depend on the account type you choose. For Standard and Micro accounts, the spread is advertised as “institutional grade STP,” while for the Blade account, it’s raw, with a commission of $3.5 per lot.
Speaking of TitanFX account types, let’s review what the broker offers.
The first two accounts have leverage of up to 1:500, while the Micro one supports up to 1:1000. Both options are hazardous, so authorities usually set limits to 1:30 or 1:50.
Additionally, the spread is waived on the Blade account, but you have to pay a commission. Finally, a Micro account doesn’t have a specified minimum deposit but offers access to fewer trading instruments than the other two.
You can trade on a risk-free TitanFX Demo account. When registering, you can choose the trading platform and conditions you wish to simulate. Then you can test the system and decide.
While having a trial account is a great option, you should be careful with it. It’s easy to get carried away when the money you’re using is virtual and not yours. Everything changes once you deposit the first sum and start investing your own cash.
TitanFX withdrawals can be processed through the following payment methods:
As you can tell, the company is clearly targeting Japanese residents, despite the official JFSA ban. They only allow Japanese customers to use bank transfers. All other clients must use their credit card or crypto wallet.
Since crypto transactions are virtually anonymous, we always advise you to use a credit card. Then, you have up to 540 days to request a chargeback if something goes south.
In case of any troubles with TitanFX, you can file a complaint to their respective regulator. In the event you cannot get the help you need, you can book a free consultation with Global Fraud Protection.
Our chargeback experts and CipherTrace crypto analysts are ready to assist you with this matter and help recover what’s rightfully yours. Get in touch now, and let’s start working!
TitanFX is an offshore trading brokerage registered in Vanuatu and Mauritius. In case of any issues, we may be able to assist you with a monetary recovery.
TitanFX offers its clients a risk-free Demo account to test the platform.
TitanFX does have a mobile app for Android, iOS, and Huawei devices.
TitanFX is an offshore trading brokerage registered in Vanuatu and Mauritius. In case of any issues, we may be able to assist you with a monetary recovery.
TitanFX offers its clients a risk-free Demo account to test the platform.
TitanFX does have a mobile app for Android, iOS, and Huawei devices.
The post TitanFX Review 2023 – All You Must Know About This Broker appeared first on Global Fraud Protection.
