Hello guys! I am here with TDMarkets review today. TDMarkets is a Forex and CFDs broker established in 2015.
The company behind the broker is TDM Holdings Inc. It is registered offshore, I gave all the details about it in the regulation section of the review.
The broker works with both retail and corporate investors and says it provides a good service to clients around the world.
TDM Holdings Inc. gives clients access to a selection of markets, enabling trading in Forex as well as binary options.
In this TDMarkets review, you will receive all the answers to the following questions: Is TDMarkets scam or good forex broker? What are the account types of the broker? What are the trading conditions such as spreads, leverage, and minimum deposit? Is TDMarkets regulated?
I reviewed TDMarkets based on the following criteria.
- MT4 support
- Low minimum deposit as $10
- Offshore regulation
- Limited payment methods
- No choice of trading platforms
Regulation of TDMarkets
TDMarkets is a company of TDM Holdings Inc. which is registered by the FSA of St Vincent and the Grenadines, under the number 23129 IBC.
Card payments and billing services are processed by its UK subsidiary, TD Markets Limited, registered in the United Kingdom, but not FCA authorized.
It may be dangerous to invest with the offshore based broker as they don’t provide any funds protection.
That’s why I advise you to choose a forex broker who regulated by reputable regulators such as Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), or Cyprus Securities and Exchange Commission (CySEC).
These regulators require some strict rules that brokers must adhere to. For example, brokers must maintain £730,000 in their bank accounts as minimum net capital as a criterion of the FCA.
Also, there is also a compensation scheme for FCA-regulated broker’s clients: the Financial Services Compensation Scheme (FSCS). The FSCS covers the client’s funds up to a maximum of £50,000.
Account Types and Spreads
Account Types and Spreads
TDMarkets offers its clients one account called Smart Account. There is also a demo account option to try the broker. It is useful for newbie traders.
Smart Accounts accept deposits from as little as $10 and lets you trade with as little as 1 cent per pip. It means the minimum deposit is $10.
It offers competitive spreads 0.8 pips + $2/lot commission. The maximum leverage is up to 1:500 and the minimum trade size is 0.01 lot.
TD Markets is registered offshore and even though its conditions seem good, the broker can always get away with your money and you cannot do anything about it.
TDMarkets offers its clients the most popular trading platform MetaTrader 4 (MT4) like most brokers.
MT4 is still the most popular trading platform despite the release of its new version MT5. The reasons for this are that it is easy to use and allows traders not only to make transactions but also to analyze market dynamics.
It has various functionalities, advanced chart tools, the Expert Advisor option for automated trading and allows users to make back-testing strategies.
The advantages of TDMarkets’ MetaTrader 4 are listed on the broker’s website as follows:
- No Dealing Desk Execution – real, fair trading with no intervention.
- Excellent spreads for all currency pairs – EUR/USD as low as 0.7 pips.
- Execution – the fastest execution available.
- Any trader types, including scalpers, are acceptable.
- Unrestricted use of experts.
- No re-quotes
- Minimum contract size: $1000
The broker offers leading industry platform, MT4, accessible on desktop, tablet, and mobile devices. This platform includes high-level charts and analytical tools, an integrated risk management system as well as sophisticated market orders, such as stop and limit orders or trailing stop.
To download the MetaTrader software, fill out the demo sign-up form. Once completed you will be prompted to download and install MetaTrader.
Unfortunately, there is no detailed information about which instruments the broker offers. TDMarkets gives clients access to a selection of markets, enabling trading in Forex as well as binary options. TDMarkets offers in FX and CFDs for equities, precious metals, energy and indices.
TDMarkets offers a few funding options available for you to choose from to fund your SMART Account. Below you can view details for each option. These options are Bitcoin, Credit & Debit card and Bank wire transfer.
TDM Holdings Inc & TD Markets Limited does not accept third party deposits nor U.S., France, and Turkey-based customers or process their transactions.
There are no minimum deposit amount and charges for Bitcoin funding option. The minimum deposit for Credit & Debit Card is $10 and there are no charges. There are no charges for bank wire transfer option for amounts of $200 or more. Funds sent below the required minimum amount will be liable for bank charges.
TDMarkets is an offshore Forex and CFDs broker that offers relatively competitive trading conditions. Spreads and minimum deposit are effective. But there are limited payment options. Popular e-wallet systems are missing.
There is only one account type. The website of the broker is fresh and easy-to-use. It provides the most popular trading platform MT4, it can be considered as an advantage for the broker.
If you didn’t find this broker’s offers acceptable, you can check my top forex brokers list and find a better one. In a nutshell, here are the pros and cons of this broker: