Minimum Deposit: $1
Maximum Leverage: 1:1000
I received too many emails for the TemplerFX review. So, I decided to write this review. Templer FX is an online Foreign Exchange (Forex) trading services provider.
According to the website of the broker, templerfx.com, TemplerFX Brokerage service as well as the brand name “TemplerFX” was founded in 2004 and is currently operated by Templer Holdings Management Limited.
If you are wondering about Is TemplerFX scam or reliable, what are the trading conditions of the broker such as TemplerFX minimum deposit spreads, and maximum leverage? Is TemplerFX regulated? What are the account types of the broker? You are at the right address to get answers to all these questions.
Who is TemplerFX?
Founded in 2004, TemplerFX is a financial markets broker who allows trading with Forex, CFDs, and Commodities. TemplerFX offers a wide range of products.
TemplerFx is an online Currency Exchange Services provider. Templer FX offers retail and corporate clients a superior level of service to maintain long-term relationships that will enable us to respond to their changing needs more efficiently and proactively. Templer FX explains its goal as providing its clients with the best trading practice and services in the forex industry.
The company is located at Suite 305, Griffith Corporate Centre Beachmont P.O.Box 1510, Kingstown – St. Vincent and the Grenadines.
TemplerFX is used by Templer Holdings Management Limited, which is licensed to the Financial Services Authority (FSA) of Saint Vincent and the Grenadines. The provided license number is 23395 with the FSA and FSP161410 with the Financial Service Provider Commission. TemplerFX is one of the hundreds of offshore brokers. Templer Holdings Management Limited is registered by The Financial Services Authority (FSA) of Saint Vincent and the Grenadines under the International Business Companies.
I can say that that registration doesn’t provide client protection. Worse still, there is no way to check through the FSA website to confirm if Templer FX is actually a member of theirs.
Moreover, there a lot of scam brokers who have this registration. I mean the broker may not be reliable, you should be careful.
On the other hand, there are some reputable and reliable brokers, for instance, the ones regulated by UK’s FCA or the Australian Securities and Investment Commission (ASIC), who offer good trading conditions and are much safer to deal with.
TemplerFX Account Types and Spreads
TemplerFX offers its clients five account types. Universal, Cent, Muslim, MAM, and Segregated account types are available for potential clients.
The Universal account type has a $ 25 minimum deposit. The deposit currency is the only USD. Spreads are starting from 0.1 pips. The maximum leverage is up to 1:1000.
The Cent account is the beginner account type. It is fit for new traders. The minimum deposit is only $1 for this account type. Spreads are starting from $1 and the leverage is the same, 1:1000.
The Muslim account is known as an Islamic account. It is the swap-free version of the Universal account. If you want to open this account, the broker may ask you to prove your religion.
The MAM account type requires a $ 1,000 minimum deposit. Spreads are starting from 0.1 pips. The maximum leverage is the same 1:1000.
The last account type is the Segregated account type. It requires a $ 50,000 minimum deposit and it is quite high. Spreads and the leverage ratio are the same as other account types.
And also you can create a corporate account after following these steps:
- Select ‘Corporate body’ when registering account at Members area
- Submit your corporate documents
- Open a live account
You can find the details of corporate documents on their website under the FAQ part. And Templer FX also states that depending on the country of incorporation, additional documents may be requested.
As a positive feature, TemplerFX offers the most popular trading platform MetaTrader 4 (MT4) for PC, mobile devices, and web browsers. Founded in 2004, Templer FX is the first forex broker to offer trading with MetaTrader4.
It is still the most popular trading platform among traders and brokers. MT4 has a user-friendly interface, advanced charting tools, a wide range of technical analysis, expert advisors, and more.
The broker provides Forex, precious metals, energies, cash Indices, shares CFDs. There are major, minor, and exotic currency pairs to trade. Precious metals such as gold and silver.
The broker claims to offer CFDs on over 40 major company shares including Amazon, Apple, Microsoft, and American Express.
They have a part called “Education” on their website but they just have 3 articles in this part. And also they publish a pdf called Profitable Forex Trading (pdf) for their customers to the beginning.
To be honest, their educational materials are really less and not enough for traders.
Templer FX has a Demo Accounts option who start to trade first with them. Login to their Members area after register and Navigate to Trading Account -> Live Account submenu of Members area. Select live account type depending on your choice and select preferred leverage(for live accounts only) and click “Create new account”.
It is quite easy to open a Demo Account and also if you want you can create Demo Accounts more than one.
If you do not leave the demo account dormant for more than 30 days, then the demo account will never expire.
There are bonuses of 5, 10, and 15%, as well as a no deposit bonus, a loyalty program, and a 100% bonus. All of the promotions and bonuses have additional terms and conditions.
TemplerFX Deposit and Withdrawal Methods
TemplerFX has too many payment options. These are bank wire transfers, credit cards, and popular e-wallet systems such as Skrill, Perfect Money, fasapay, Qiwi Wallet, and more.
It is a big advantage for this broker to offer all these deposit and withdrawal options.
3 Steps to Becoming a Trader in TemplerFX
Sign up for a Demo Account
Simply fill in the online application form by clicking here.
Download their free FOREX trading software
Once you have signed up for your demo account you can download a copy of Templer’s FX Trader or Templer FX Mobile software to use with your demo account.
Read their “Beginner’s Guide to Forex Trading”
Profitable Forex Trading (pdf) – An introduction to currency trading that anyone can master published by them on their website.
They say that once you have completed these 3 steps and have understood the basic principles of Forex trading then you can open a “Live” account with them and start trading Forex.
TemplerFX Customer Support
Their expert advisers are ready to help you 24 hours a day Sunday from 11:00 pm (GMT) to Friday from 9:00 pm (GMT). They also have a live chat option. Their customer services support limited languages when we compare with the other brokers.
Conclusion of TemplerFX Review
TemplerFX is an offshore forex broker. It is always risky to open an account with this type of broker. I strongly recommend trading with well-regulated forex brokers.
If you don’t want to lose your money to scammers you must be away from unreliable brokers. Also you can check this article to find more trustable brokers.