Opinions on TNFX?

Hey guys, firstly, I’m delighted to find this forum. I look forward to exchanging thoughts, ideas and opinions with the rest of you folk.

Coming to my topic… Is anyone here an existing (or prior) trader on TNFX? If yes, what has your experience been so far?

its reputation in the industry is really pretty horrible

even many of the so-called “broker review websites” online (plastered with affiliate links) warn people off it and describe it as a high-risk brokerage :open_mouth:

it’s based in Dubai, most of its customers are from Iraq and the United Arab Emirates (and some from Turkey)

but the three main problems with them appear to be:-

  1. they have chosen to be “regulated” only in the Seychelles and St. Vincent/Grenadines (this is a huge red flag, because that’s basically another way of saying unregulated: those are regulators paid for by the companies they “regulate” and never rule against those companies) :face_with_raised_eyebrow:

  2. the very few traders who ever make profits there have a lot of difficulty withdrawing their money

  3. they sometimes promote themselves in trading forums as a “double act spamfest”: a brand new member joins, and immediately posts asking “Have you heard anything about TNFX?” and then shortly afterwards one or two more “brand new members” suddenly join the forum and post replies saying “Yes, they’re wonderful, they always pay out reliably” etc. etc. (you can see how much credibility that has, but amazingly some people don’t notice!!) :unamused:

just a little bit of “due diligence” sometimes goes a long way and can avoid disastrous accidents - i’d stay well away from TNFX, if i were you :wink:

1 Like

I hear what you are saying and appreciate the way you’ve made your point. I have a couple of Qs that I’d appreciate your opinion on.

  1. I’d like to know if the source of your second point was word-of-mouth or do you personally/virtually know of a trader who had that bad experience?

  2. You mentioned that being regulated in the Seychelles and St. Vincent/Grenadines is a Red Flag. So what regulations, according to you, would be a Green Flag?

no, my second point was only industry gossip - i don’t personally know anyone who has had problems withdrawing from them, but then i don’t know anyone who would touch them with a barge-pole in the first place; but if you just look around online, yourself, you’ll see many similar reports, though, and you can decide for yourself whether they’re all “just made up”

not just according to me: according to anyone involved in the trading world who’s making a living: any FCA-regulated or ASIC-regulated broker is a “green flag”, by comparison, in this context, and there are hundreds to choose from, so there’s really no great problem and absolutely no need for anyone to resort to a “broker” of this kind anyway - good luck