My name is Kate and I am the representative for Tadawul FX (also known as TDFX), Europe’s Leading Forex and Commodities Broker. I have started this thread as a means to assist you with any questions about Tadawul FX and trading with us. Please feel free to contact me on this forum or via email and I will be happy to help you along the way.
If you are new to Tadawul FX and don’t know much about us, here is a brief description:
Website: tadawulfx.com Regulated by: CySec and MiFID compliant Registered with: FSA, BAFIN, PSZAF Instruments: currencies, metals, energies, CFDs Spread: fixed spreads from 1 pip (on forex) Account Base Currencies: USD, EUR, GBP, CHF, JPY Leverage: 1:1 to 1:500 Accounts: Mini, Standard, Premium, Islamic, Corporate, Managed Strategies: All strategies are welcomed including hedging & scalping EAs: All EAs are welcomed
Just a quick note to say that [B]Daylight Saving Time Starts this Sunday, 27th of March 2011. [/B] The clocks will move forward at 2:00 (CET) to 3:00 (CET) in observance of Daylight Saving Time.
Tadawul FX will start its operations as normal, at 00:00 (CET) on Sunday, 27th of March 2011. Some clients, located in countries that do not change the time, or change time at a different period, might be affected by these changes.
There are no restriction on leverage for traders from the United States. You can choose to trade with leverage 1:100, 1:200, 1:300, 1:400, and 1:500 for all accounts with a balance of $150,000 or less. Smaller leverage is also available on request.
Don’t hesitate to let me know if you have any more questions.
Just a short note to say that we are happy to announce that we have reduced the spreads on AUDNZD and EURNZD from 25 and 30 pips respectively, to only 15 pips. Enjoy trading with lower and fixed spreads at all times, and under all market conditions.
There is a very important factor here that needs to be pointed out. [B]TDFX offers fixed spreads, 24 hours a day and under all market conditions.[/B] So there is never any spread widening!
The company you mentioned offers [U]variable spreads[/U]. So although their spreads were lower when you checked them, if you check their spreads for the last 7 days, you will see that they are generally higher than TDFX spreads during the Asian session! http:// Historical Spreads for Forex & CFDs | OANDA On this page you will see that their spreads jump up to 50 pips on these 2 pairs!
So remember, [B]when their spreads jump to 50 pips, TDFX will still have 15 pips. [/B]
I’m well aware of their variable spreads, but their spreads are generally lower than Tadawul’s also during the Asian session, as can be seen in the screenshot I took.
The period of high spreads is during the weekend, when all other brokers I know of are closed for trading Oanda is not, although the spreads are quite high.
Other than that period, their spreads are lower almost all the time with the exception of a few news events as far as I can see…
You can actually trade during the weekend with them? If so, this is very strange as [B][U]ALL[/U][/B] the markets, [U]all over the world are closed[/U]. I wonder how it is possible to trade during closed markets?? This is extremely unusual, and means that none of the orders are executed in the real market (a major concern).
Regarding the spreads… TDFX follows an STP model of execution and executes all orders in the real market. As we work with many liquidity providers we always have the ability to choose the best rate available at the time, and therefore can offer lower spreads than many other companies during large market movements, news releases, or market volatility.
I imagine if you are interested in trading exotics, you would want to trade during such movements in the market? If so, this is when TDFX can prove to be of great value.
Of course the choice is yours! But this is why many traders prefer fixed spreads… they always know their exact costs, and also feel more confident knowing that there will be no bad surprises if the market becomes volatile all of a sudden due to news releases, unpredictable events, etc.
Yes, it’s actually possible to trade during the weekend with them (not that price moves, but still ). Only time I’ve used this feature was to close a position I had planned to keep over the weekend but changed my mind.
Anyway, it’s good to see another verified broker rep around here and you can obviously withstand some teasing
A quick post to say that Tadawul FX has introduced new currency pairs today as well as gold versus EUR. The introduction of new currency pairs has been brought about in response to customer feedback and we hope you enjoy trading with a wider choice of instruments.
New trading instruments:
USDMXN (United States dollar versus Mexican peso)
USDDKK (United States dollar versus Danish krone)
USDZAR (United States dollar versus South African rand)
GBPNZD (British pound sterling versus New Zealand dollar)
NZDCAD (New Zealand dollar versus Canadian dollar)
XAUEUR (gold versus Euro)
We are very excited to announce that Tadawul FX has won 2 prestigious awards, [B]Islamic Forex Broker –Excellence Awards and Forex Broker Middle East – Excellence Award, from IB Times.[/B]
Winning these 2 awards marks recognition of our achievement and presence in the Middle East, and has been possible due to tremendous growth and popularity of our Islamic Forex Accounts. Tadawul FX Islamic Accounts are known to have the most competitive conditions available in the market, helping clients to enjoy ethical trading with no swap costs.
We are delighted to announce that Tadawul FX has won another award, the [B]Best Islamic Forex Provider of 2011[/B], from the renown World Finance magazine. The recognition was based on innovation, originality and quality of products and services, as well as geographic reach and market development. Thank you to everyone who voted for us, your support is much appreciated!
We are also excited to announce that [B]Tadawul FX website has been launched in the Arabic language [/B]Online forex trading with leading online forex broker Tadawul FX to better cater to our Arabic speaking clients in the MENA region and worldwide. Customer Support is also available in Arabic in addition to French, Hungarian, Russian, German, Greek, Slovak, Romanian, and of course English.
Question 1
Hi, good to have someone from TDFX here, I have a question or two. This first question is probably not your obligation to answer but never the less, if you can answer I would appreciate. I live in the USA and would like to know if you (TDFX) are obliged to report in some way the trading activity or account existence of US citizens to the US Government. If so, explain briefly what Tax implications does it entail, I’m not sure if we are obligated to report a foreign Forex Account and/or profits or not.
Question 2
Also, would like to ask if I can have an Islamic trading account , I understand has lower fees?
Question 3
I see you made an announcement in May 2011 about including new currency pairs :
New trading instruments:
USDMXN (United States dollar versus Mexican peso)
USDDKK (United States dollar versus Danish krone)
USDZAR (United States dollar versus South African rand)
GBPNZD (British pound sterling versus New Zealand dollar)
NZDCAD (New Zealand dollar versus Canadian dollar)
XAUEUR (gold versus Euro)
I have a demo account with you guys and don’t see those pairs there, what with that?
Sorry to butt in here, but I think I can save you some time.
TadawulFX (TDFX) does not deal with U.S. residents. Here is a quote from a recent TDFX communication:
Due to the regulatory restrictions in the U.S., it is with great regret we inform you that Tadawul FX will no longer be able to accept any transactions from U.S. residents from 8th July 2011.
For the full text of that communication, click on this Babypips post, where it was originally posted:
If you are not familiar with the thread titled “Going offshore to escape the CFTC”, you should check it out. Initially, you can skip trying to read the whole thread — it is very long. Instead, go to the lists we have compiled of offshore brokers who will, or will not, do business with U.S. residents.
Currently, the 3-page List can be found at Post #944, Post #945, and Post #946. Periodically, as the thread continues to grow, I move the List to the end of the thread, so those post numbers are subject to change from time to time.
10/9/11 Edit: Currently, the List can be found at Post #1072, #1073 and #1074
Hi. Is this broker still active? Your website does not work. I’m looking for a fixed spread broker with 1 pip in the EURUSD. And let take profit to 1 pip.
). Only time I’ve used this feature was to close a position I had planned to keep over the weekend but changed my mind.