Note: TGKKs official site (http://www.tgkkfx.com/) is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information
What is TGKK？
TGKK is an offshore brokerage company registered in Hong Kong, offering its clients a series of trading services. TGKK is operated by a company named TGKK Limited, and it has been verified that TGKK Limited is not subject to any regulation, please be aware of the risk involved.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
The pros of TGKK include a wide range of trading instruments, and a user-friendly MT5 trading platform. However, the cons include the lack of regulation, no segregated accounts, limited customer support, and negative reviews from some traders who claimed to have experienced fraudulent activities by the broker. Therefore, traders should carefully consider the risks and benefits of using TGKK as their broker and conduct thorough research before making a decision.
TGKK Alternative Brokers
There are many alternative brokers to TGKK depending on the specific needs and preferences of the trader. Some popular options include:
ThinkMarkets - A well-regulated broker with a diverse range of trading instruments, competitive pricing, and excellent customer service.
Windsor Brokers - A regulated broker with a long history, offering a wide range of trading instruments, multiple account types, and educational resources.
FXOpen - A reputable broker with multiple regulations, offering a range of trading instruments, competitive pricing, and multiple account types.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Is TGKK Safe or Scam？
Based on the information available on the Internet, it is highly likely that TGKK is a scam. The fact that the website is currently unavailable and that the company is unregulated and operates offshore raises serious concerns about the safety and legitimacy of the broker. Additionally, the lack of segregated accounts and regulatory oversight means that client funds may not be adequately protected, increasing the risk of fraud or loss.
It is important for investors to exercise caution and thoroughly research any broker before investing with them, and to only choose regulated brokers with a proven track record of safety and reliability.
Market Instruments
As far as I could gather from available online sources, it is not recommended to trade with TGKK due to their fraudulent activities. However, TGKK appears to offer a range of trading instruments to their clients. These include popular instruments such as forex pairs, cryptocurrencies, shares, precious metals, and commodities.
Accounts
TGKK offers a single standard account to its clients with a minimum deposit requirement of $100. The account is tailored to meet the needs of retail forex traders and comes with access to a range of trading instruments. However, it is important to note that TGKK does not offer any information about the trading conditions, spreads or commissions that its clients can expect on this account. Additionally, the lack of information on other account types or tiered account structures limits the flexibility of clients to choose an account that best suits their trading needs.
Leverage
When it comes to trading leverage, TGKK allows its clients to use the maximum trading leverage up to 1:500, which is significantly higher than the appropriate amount considered by most regulatory authorities.
Trading leverage may increase your profits on one hand, but on the other hand, it can also cause serious fund losses, especially to inexperienced traders. Therefore, it is important for traders to choose the proper amount that they feel most at ease.
Trading Platforms
TGKK offers the popular trading platform MetaTrader 5 (MT5), which is available for desktop and mobile devices. MT5 is well-known for its advanced charting capabilities, wide range of technical indicators and tools, and an intuitive user interface. It also offers features such as multiple order types, automated trading, and a comprehensive trading history. With MT5, traders can easily access real-time market data, place trades, and manage their accounts from anywhere in the world. Overall, MT5 is a reliable and robust platform that is trusted by traders around the globe. But this broker is untrustworthy.
See the trading platform comparison table below:
Deposits & Withdrawals
TGKK accepts a minimum deposit of $100, and clients can choose from a variety of payment methods to make deposits or withdrawals, including Bank/Wire Transfer, MasterCard, VISA, and USDT. No deposit fees charged by TGKK. However, for withdrawals, clients may need to pay market real exchange rate fees.
TGKK minimum deposit vs other brokers
See the deposit/ withdrawals fee comparison table below:
Please note that the fees may vary depending on the payment method used and the account type. It's always recommended to check the broker's official website for the most up-to-date information.
Customer Service
TGKK's customer service appears to be limited as it only offers email: admin@tgkkfx.com support, which may not be the most efficient way of addressing urgent issues. However, the company does provide its address - Office Unit, 11 On 17th Floor Witty Commercial Building, Nos.1A/1L, Tung Choi Street, KL, Hong Kon, which can be useful for clients who want to visit their offices or send physical documents. Overall, TGKK's customer service may be lacking compared to other brokers who offer more extensive support options.
Note: These pros and cons are subjective and may vary depending on the individual's experience with TGKK's customer service.
User Exposure on WikiFX
Many forex traders shared their terrible trading experience with TGKK, saying this broker defraud them by stealing their deposited money and rejecting their withdrawal requests. The typical forex scam involves a high initial deposit, followed by account manipulation, money theft, and the perpetrator's disappearance. Go to WikiFX to see the whole story.
Conclusion
Based on the information gathered, TGKK is an unregulated forex broker that lacks transparency in its operations. The broker has received negative feedback from clients who reported losing their funds and facing withdrawal issues. TGKK offers a standard trading account with a low minimum deposit of $100 and high leverage up to 1:500. The broker's customer service is limited to email support only, which may result in delayed responses to client inquiries.
In summary, we advise traders to exercise caution when dealing with unregulated brokers like TGKK, as their operations are not monitored by regulatory authorities, which increases the risk of potential fraud and loss of funds.
Frequently Asked Questions (FAQs)
