TNXTrade – Review of the Brokerage Company and the Platform

The first thing that impressed us when we opened the website was the announcement of the company as the number 1 broker worldwide. This made us look even deeper. So, the tnxtrade.com website is owned by Smart Technology Services LTD, which is incorporated in the Republic of Marshall Islands (RMI) and regulated by the local banking regulator under the reference number 98668. The company has offered financial services for 15 years. About the claim of the number 1 broker, TNXTrade citing its prizes. It has been awarded more than 70 times; the company claims. Currently the company has clients from more than 170 countries and is headquartered in the Republic of Marshall Islands (RMI). You can find their staff in the offices in the UK and Liechtenstein. Although it is not obligated, TNXTrade keeps client funds in major international banks, fully segregated from the company’s own funds.

The company uses the newest Equinix data centers in London and Amsterdam. This allows it to create huge liquidity pools that meet the trader’s exceptional needs, the company claims. The server’s location provides the average execution time to be less than 11 milliseconds. The deep liquidity allows the company to implement the modern no dealing desk (NDD) order execution. TNXTrade defines itself as a brokerage company that provides no dealing desk execution (NDD) and always offers the best available buy and sell prices. At the same time, the company executes huge volumes of client orders and only a small part of them is not internally matched, which allows it to minimize the risk. Some or all of the non-hedged positions are executed externally at the discretion of the company. So, we can conclude that TNXTrade acts as a market maker providing non dealing desk execution. The company claims that 82% of all orders are executed without slippage.

We have found a warning that the client balance may become negative due to position liquidation and unpaid leverage financing fees. In such a case, the unpaid negative balance is due by the client to TNXTrade. This means you are not covered by a Negative Balance Protection policy and at the end you may owe some money to this company.

Customers can deposit money by bank transfer, credit or debit cards and e-Wallets. In addition, the company offers its own wallet called TNXTrade Wallet and you can transfer funds between your TNXTrade Wallet and your trading accounts at any time. You can deposit money in EUR, USD, GBP, CHF, JPY, PLN, and AUD. TNXTrade does not charge for bank wire transactions. The minimum deposit amount by card is USD100 and the maximum amount is USD10,000. The minimum withdrawal amount is USD100, and the maximum is USD50,000 per day. Deposits and withdrawals are processed within one business day.

Trading is available on both desktop (Windows) and mobile (iOS and Android). MetaTrader 4 (MT4) is one of the most popular and trusted trading terminals that has become an industry standard. It is a user-friendly platform, which provides advanced technology and enhanced security to trade. The terminal is customizable enough, allowing traders to open multiple screens at once with preferred technical indicators. It also offers a one-click trading option. TNXTrade does not require a minimum amount to open a real account but recommends investing at least USD500. The leverage can be lifted to 1:400. Be careful because higher leverage leads to a significant risk of loss. All deals are commission free.

You can trade more than 250 instruments with the TNXTrade MT 4 terminal. Most of the assets are quoted with floating spread. However, some of the major currency pairs have fixed spreads. The most traded pair – EUR/USD has a fixed spread of 1.5 pips and the GBP/USD pair can be traded with the spread of 1.7 pips. CFDs on global indices are also available. They have a floating spread and the average one for the DAX30 is 2.4 points and the one for the Dow Jones Industrial Average is 2.1 points. Commodities include metals and energies. You can trade Gold (spread of USD0.26 spread) or Crude Oil (spread of USD0.044). In addition, CFDs on more than 150 shares of global companies are available for trading as well. The average spread of the Apple share is USD0.61. Five of the cryptocurrencies that have become fashionable recently are available for trading as CFDs. The average spread for Bitcoin is USD150.

In conclusion, TNXTrade has a RMI regulation that allows it to provide financial services worldwide. It uses the latest non dealing desk (NDD) technology to fulfill client orders. The company provides over 250 assets as CFDs, and you can trade them through the popular MT4 platform. Trading conditions are especially good, and you will have narrow spreads, and no commission. You can start trading by investing as much as you want.