Minimum Deposit: $1
Maximum Leverage: 1:1000
My Score: 2.4
I received too many emails for the TemplerFX review. So, I decided to write this review. TemplerFX is an online Foreign Exchange (Forex) trading services provider.
Founded in 2004, TemplerFX is a financial markets broker who allows trading with Forex, CFDs and Commodities. TemplerFX offers a wide range of products.
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.
The company is located at Suite 305, Griffith Corporate Centre Beachmont P.O.Box 1510, Kingstown – St. Vincent and the Grenadines.
If you are wondering about Is TemplerFX scam or reliable, what are the trading conditions of the broker such as spreads, maximum leverage, and minimum deposit? Is TemplerFX regulated? What are the account types of the broker? You are at the right address to get answers to all these questions.
Regulation of TemplerFX
TemplerFX is one of the hundreds 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.
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 $25 minimum deposit. Deposit currency is 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 $1,000 minimum deposit. Spreads are starting from 0.1 pips. The maximum leverage is the same 1:1000.
The last account type is Segregated account type. It requires $50,000 minimum deposit and it is quite high. Spreads and the leverage ratio is the same with other account types.
As a positive feature, TemplerFX offers the most popular trading platform MetaTrader 4 (MT4) for PC, mobile devices and web browsers.
It is still the most popular trading platform among traders and brokers both. 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.
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.
Deposit and Withdrawal Methods
TemplerFX has too many payment options. These are bank wire transfer, credit card, 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.
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.