Has any one tried TioMarkets broker?

If you have used Tiomarkets or are currently using Tiomarkets as your broker. What do you think of them?

I’ve never used them, but this springs up immediately on a search. Be careful.

They are a decent broker and can be trusted

okay. i’ve been using them for a while, and seem good.

i checked wikifx, and they are regulated.

that’s what i thought.

They are, but as the FCA is warning people (see the link above), there’s also a clone firm operated by fraudsters, that isn’t regulated at all, called Tiomarkets Trading.

So people need to be very careful.

It’s precisely because of scams like this (and sometimes brand new members joining forums and promoting them with their very first post) that some people end up wrongly believing that regulators don’t protect them, whereas in reality they’ve sent money to fraudsters who were pretending to be regulated but are not actually regulated at all.

It’s a dangerous trick, and forums like this, where many people don’t have a lot of experience, are exactly how the fraudsters promote it.

Wikifx, which you mention above, is just an affiliate-link-farm site: in spite of its authoritative-sounding name, it has no more weight or veracity than any other affiliate-link/promotional site.

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Haven’t used them, and this is actually my first time hearing about them. :sweat_smile: But I would agree that you need to be extra careful just to make sure you’re not dealing with the clone company. :open_mouth: Have you had the chance to withdraw funds or speak to their customer representatives? :blush:

I’ve spoken with their customer representatives, they are very nice.

I just tried withdrawing some money. Hopefully, it goes through.

I wouldn’t trust this website. They even copy the School of Pipsology, which is a huge red flag. Just because they’re listed on WikiFX and appear to be regulated doesn’t mean they’re reliable. Be careful and do thorough research before trusting them with your money.

How do you know it was the real company you were talking to, and not the clone-site fraudsters?

You make a point. I’m not sure. What do you suggest?

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Good question - I don’t know.

To be honest, that FCA warning would put me off completely: there’s no need to take such chances, when there are so many safer, better-known brokers available?