Tifia Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this Tifia Review.
Tifia Review
Clients of Tifia are offered a choice of 3 account types, one intended for beginners, called Start, and two ECN accounts. All of them offer variable spreads and micro tradeable lots on the most popular forex trading platform, the MetaTrader 4.
Besides, this broker provides managed account services under the so-called Agent program.
Overall, Tifia’s offerings seem attractive: ECN environment with high leverage levels and comparatively low minimum initial deposit, and competitive spreads. Actually, the spreads on the ECN Classic commission-free account are on the upper end of average, typical ones amounting to 1.5 pips for the EUR/USD. Tifia’s best spreads are available on the ECN Pro accounts – averaged 0.5 pips and involving a commission of $8 per standard lot round turn. So, trading costs for the EUR/USD pair amount to around 1.3 pips per lot, which is an attractive offer.
By comparison, FX Choice offers spreads averaged 1.2 pips on EUR/USD on its commission-free accounts. For further information and comparison, you may check out real-time spreads of 15 leading brokers here.
The Company. Security of Funds
Company
Country
Regulation
Tifia Investments Limited
UAE
N/A
Established 2014, Tifia is a brokerage, offering trading in 20-something currency pairs, precious metals and some CFDs on the popular MetaTrader 4 platform. The brand is owned and operated by Tifia Investments Limited, a company incorporated and registered in Dubai, United Arab Emirates (UAE). The broker used to be licensed in New Zealand, however, it was deregistered from NZ FSPR in November, 2016 and currently it is not regulated by any authority.
Tifia claims that all orders are executed with no dealer intervention and that it segregates all clients’ funds from the company assets. Unfortunately, there isn’t any regulatory body overseeing this broker’s activity.
Investing in an unregulated broker is a risky business – you can lose your money and the chance of getting it back is close to zero. That is why we generally advise traders to stay away from such companies and to choose among companies licensed by reputable regulators such as FCA or ASIC, for example.
Trading Platforms
As we have already mentioned, Tifia supports the robust MetaTrader 4. The platform is available for download for PC, iPad, iPhone and Android. Obviously, this broker doesn’t offer the web-based MT4.
MT4 offers a number of technical indicators, extensive back-testing environment, advanced charting package and is equipped with the most commonly used trading robots, as well as with options to create new ones.
Methods of Payment
Tifia offers a large number of payments methods to accommodate all our clients: bank wire transfer, credit/debit cards and e-wallets Skrill, Neteller, Perfect Money, FasaPay, and OKPay.
Overall, Tifia’s trading conditions are good, but its product portfolio is somewhat limited. However, in our view the main problem with this broker is the lack of regulation.
The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
Tifia Review Conclusion
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