WikiFX Review: Is TIO Markets trustworthy?

In this article

WikiFX provides inquiry services in the forex field.

WikiFX evaluates the reliability of TIO Markets based on the facts.

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To explore whether TIO Markets is a scam or not, we evaluated TIO Markets from different aspects, such as regulatory status, exposure, etc.

Table of Contents

1. Evaluate the reliability of TIO Markets based on its general information and regulatory status

To understand TIO Markets better, we explore TIO Markets by analyzing three main perspectives:

A. General Info of TIO Markets

B. Regulatory Status

C. Fund Security

A. General Info of TIO Markets

TIO Markets' general info has been shown below:

(source: WikiFX)

(source: WikiFX)

• TIO Markets is a Forex brokerage firm, founded in 2019 and based in London, UK. Tio Markets UK Limited is registered in the United Kingdom of England and Wales with company registration number 06592025.

• According to the TIO Markets website, it supports 16 languages, including English, Chinese, and Spanish.

Market Instruments

TIO Markets offers traders a wide range of financial instruments, including CFDs on Forex currency pairs, stocks, indices, energies, and cryptocurrencies.

Account Types & Minimum Deposit

TIO Markets offers traders four different trading accounts: Standard, Demo, VIP Black, and VIP. The minimum deposit for the account is $50.

Leverage

TIO Markets, as a UK-based broker, fully complies with the FCA regulation, and the maximum leverage for major Forex currency pairs is capped at 1:30, 1:10 for commodities.

Deposit and Withdrawal

TIO Markets supports traders to deposit and withdraw funds to their investment accounts via VISA, MasterCard, UnionPay P2C, and wire transfer.

（Source: TIO Markets website)

Spreads & Commissions

The minimum spread on the TIO Markets platform is 0.5 pips for EURUSD, 0.8 pips for EURGBP, 0.9 pips for EURJPY, and 0.03 pips for UK and US Crude Oil. The trading commission for standard accounts is 6 USD per lot (bilateral), for VIP accounts is 2 USD per lot (bilateral), and no trading commission is charged for VIP Black Gold accounts.

Trading Platform

TIO Markets offers traders MT4 and MT5 trading platforms.

Customer Support

The TIO Markets support team is on standby 24/5 via email or live chat to help traders with trading, funding, withdrawals, or anything else that they may need help with. Unfortunately, the contact telephone number could not be founded on the broker's website.

Restricted Regions

Traders can not use TIO Markets from the United States, Belarus, Cote d'Ivoire, Cuba, Congo, Iran, Iraq, Liberia, Korea, Sudan, Syria, and Zimbabwe.

（Source: TIO Markets website)

B. Regulatory Status

The legitimate license of TIO Markets

TIO Markets is a regulated broker. It is regulated by FCA with license number: 488900

(source: WikiFX）

C. Fund Security

Account segregation is imperative since it allows traders to have access to their funds all the time. Even if the broker is bankrupt, traders will still be capable of getting their money back.

Unfortunately, we didn't find any information related to funding security or account segregation on its website.

2. The feedback from Twitter

To figure out whether this broker is a scam or not, we surveyed TIO Markets on Twitter.

Reviews on Twitter:

TIO Markets has an official Twitter account, which is registered in March 2019. As of April 19, 2022, It has 960 followers.

This trader recommends TIO Markets to the public, he/she also lists some advantages that TIO Markets has.

(source: Twitter)

This trader claimed that TIO Markets is a scam in 2019.

3. Exposure related to Exness on WikiFX

On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFXs Exposure function helps you get feedback from other traders and remind you of the risks before it starts.

(source:WikiFX)

One trader who comes from Bangladesh complained that he/she didn't receive the full amount of the withdrawal. And the process of the withdrawal is kind of long (3 days)

4. Special survey about TIO Markets from WikiFX

A. Scoring Criteria

WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

TIO Markets has been given by WikiFX a decent rating of 5.44/10.

(Note: Because different regions or countries have different levels of regulatory strictness, the score of the same broker might be slightly varied in other regions or countries. For details, please consult WikiFX customer service.)

(source: WikiFX)

According to the above, it seems that TIO Markets is very poor at risk management. Risk management includes the measurement, assessment, and contingency strategy of risk. Ideally, risk management is a series of prioritized events. TIO Markets seems not to have enough capital and good strategies to secure clients' assets in the unstable market

B. Field Investigation

• To help you fully understand the broker, WikiFX also investigates the brokers by sending surveyors to the broker's physical addresses.

• On WikiFX, you can visually check the physical addresses of brokers by pressing the “Survey” button.

• WikiFX did make an on-site survey on TIO Markets in April 2021 but failed to find their office.

(source: WikiFX)

C. WikiFX Alerts

(source: WikiFX)

5. Conclusion:

Although it is no doubt that TIO Markets is a regulated broker, we advise you to do more research before you make a decision since we didn't find the physical address of this broker. Please be aware of the potential risks. WikiFX contains details of more than 34,000 global forex brokers, which gives you a huge advantage while seeking the best forex brokers. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP for free through this link below (https://www.wikifx.com/en/download.html). Running well in both the Android system and the IOS system, the WikiFX APP offers you the easiest and most convenient way to seek the brokers you are curious about.