The trading conditions of TenderFX are neither very clear, nor easy to find. Apparently there are three types of live trading accounts: Micro, Standard and VIP. There is also a swap-free Islamic account.
The deposits start from $100 and the leverage on some types of accounts can go as high as 1:500. We did not find information about a demo account.
The broker offers trading in CFDs on spot forex, spot metals, futures on currencies and spot metals.
The Company. Security of Funds
The most striking thing about TenderFX is the uncanny similarity between its logo and that of the popular trading and charting platform TradingView.
TenderFX says it is based in Dublin, Ireland, but is not regulated by the country’s regulator, the Central Bank of Ireland. The broker claims it’s activities are compliant with the EU’s MiFID and it may be so, but this does not make it any less unregulated.
The lack of regulation suggests that dealing with TenderFX is riskier than with reliable and properly regulated brokers, like the ones overseen by reputable regulators like UK’s FCA or the Australian Securities and Investments Commission.
TenderFX offers some variety. In addition to the eternally popular MetaTrader 4 (MT4), the broker also offers the cTrader – a true ECN platform developed by Spotware and available as a white label offer.
The platform provides traders with a large set of benefits, such as flexibility, 14 chart timeframes, 30 technical indicators, trend lines, Fibonacci levels, support and resistance lines, channels, market depth, etc. cTrader is generally known for its good execution, precise quotes with full pricing transparency and tight spreads.
Methods of payment
TenderFX has very limited funding options. According to its site, the broker accepts only bank transfers and payments with credit cards. There is no mention of popular payment platforms like PayPal, Neteller or Skrill, for example.
From the information provided on the website, we cannot reach a definitive conclusion about TenderFX. In such cases we are of the opinion that the broker is rather unprofessional or simply a scam, so you’d better avoid TenderFX. There are many properly regulated brokers with clear trading conditions and good reputation, instead.
TenderFX Review Conclusion
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