TMi Markets, with ownership of EXO Broker AG, presents itself as a UK-based firm. Yet, there are offshore offices in St. Vincent and the Grenadines and Comoros Union and another European in Münich.
With this in mind, traders could definitely expect maximum security and regulatory oversight from them. Thus, that’s not the case, and why that might cause you problems, find out in this unbiased TMi Markets review.
| Regulated by: | MISA |
| Is This Company Safe? | No |
| Known Websites: | |
| Have Warnings from: | N/A |
| Registered in: | UK (allegedly) |
| Operating since: | 2022 |
| Trading Platforms: | Proprietary web trader |
| Maximum Leverage: | 1:200 |
| Minimum Deposit: | $250 |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptocurrencies, Forex, Commodities, Indices, Shares |
| Free Demo Account: | Not available |
| How to Withdraw from This Company? | Withdrawing funds from offshore regulated companies can be tricky sometimes. Still, with the misleading platform this company offers, anything is possible. Therefore, if any problem occurs, contact our refund specialists for advice. |
Legal info: Is TMi Markets Legit?
Considering the company’s offshore license (T2022131) issued by MISA, traders might expect some transparency and legitimate business. Yet, this firm has been offering services in the UK, the US, and Italy without the authorization of institutions like FCA, CFTC, or CONSOB. Does that make them legit? You decide.
However, the problem is that this company also mentions numerous awards it has allegedly collected. Some of them even date back to 2021. Yet, their domain reveals this trading brand started in October 2022. Again, it’s your call if you will trust this firm. And we have just started with facts.
Who are TMi Markets’s Clients?
Considering the company’s regulations, they can’t trade fairly in many high-standard countries. Yet, they do so. Most of the clients with this firm come from:
- United Kingdom
- United States
- Czechia
- Cyprus
- Italy
In general, there are far better choices in any of these countries. If you don’t know if you can trust brokers, make sure to read our Nixse and Hxeyy.co reviews to find out what to avoid. Also, don’t hesitate to contact us if you have trouble with any of these.
Traders Reviews
Generally speaking, seeing only 9 TMi Markets reviews on Trustpilot is quite surprising. For an award-winning platform, there should be much more hype around it. In any case, according to all of those positive comments, you possibly can’t have the best picture of the broker.
Consequently, it’s sometimes better to be patient and wait a bit more rather than throw money away into the unknown. In any case, we encourage you to share your opinion about this firm with our team, especially if you need a withdrawal or refund consultation.
Leverage, Commissions, Spreads, Fees and Taxes
Due to offshore TMi Markets regulation, traders can’t expect the best conditions out there. Primarily, they have leverage that is currently up to 1:200. For instance, in Europe, the maximum allowed one is 1:30. So, if they are offering services to any country in the EEA zone, they are breaking the rules.
With spreads starting from 0.8 pips, they might even look attractive. Yet, it’s usually never that low. But even if it is, without top-tier licenses, that becomes almost meaningless. Also, the company claims to have a low commission at $2.5 per lot. But account types reveal a different story.
Bonuses
Another positive thing about this firm is the lack of bonus incentives. Yes, we say positive because bonus credits rarely bring anything good. Saying: “Trade with what you can afford to lose” is not created without a reason.
TMi Markets Trading Features
Overall, the company presents a highly trusted MT5 platform as its main advantage. Even the TMi Markets account type section reveals that MT5 is available for any of the options.
However, once you register, you will realize it’s far from reality. Therefore, think twice to trust any of the company’s features.
Trading Platforms Available
Even though the company advertises MT4 and MT5, download options on their website don’t exist. However, when you register, you will see a platform that highly reminds you of the Meta Trader. But it’s not.
In addition, the company doesn’t provide download options, and you quickly realize these details are highly misleading. Nevertheless, the platform might include some advanced features, but can you trust them after this discovery?
Available Trading Assets
As can be seen, the company brags about a wide range of forex pairs. But also about a big number of other tradeable assets. Is it worth it without trusted licenses? You’ll decide.
Anyway, you can trade with:
- Currency pairs – EUR/SEK, AUD/SGD
- Commodities – gold, natural gas
- Shares – IBM, Facebook
- Indices – S&P500, NASDAQ
- Cryptos – DOT, BTC
Account Types
Important to note is that there is a TMi Markets Islamic account as well. For this one, you’ll have to put aside at least $1.000 to get started. When it comes to regular live accounts, you can choose between:
- Bronze – $250
- Silver – $10.000
- Gold – $25.000
- Platinum – $100.000
- VIP – Tailored
Mobile Trading App
Another thing about this company is that they advertise iOS and Android apps for their platform. However, none of the options on the website lead to trusted stores.
Instead, the company requires you to register with them. That’s not what’s advertised, and it’s a clear sign to avoid them.
Demo Account
When you see companies offering MT4 and MT5 platforms, you would expect a demo account as well. It’s something usually offered by trusted brokers. Yet, the TMi Markets demo account is not part of the deal. Is it because of missing Meta Trader software or something else? The mystery remains.
Education
With non-transparent details about TMi Markets MT4 and TMi Markets MT5 platforms, traders might question everything this company offers. For instance, even their educational program that includes live webinars and 1-on-1 sessions.
If they are prepared to mislead you at first glance, what makes you think their educational program is worth the time?
TMi Markets Withdrawal
It is important to realize that the company only reveals deposit details on its deposit and withdrawal page. When it comes to TMi Markets withdrawal, you better prepare your nerves. Primarily because not even the T&Cs reveal many more details about the procedure, fees, or processing time. Apparently, there are crypto options, bank transfers, and card transfers. Yet, none of these can be confirmed.
But if you have verified your account and they require additional verification during withdrawal, make sure to talk to experts before making any other moves.
Customer Support
If you want to get in touch with the company, you can only do that anonymously through options such as live chat, e-mail, or a web contact form. Since they are a regulated brokerage, it’s quite surprising they don’t have a phone line and transparent working hours.
Key Information To Consider About TMi Markets
Yes, the company presents itself as licensed, and indeed they are. However, that regulation can’t be compared to the FCA, BaFin, or ASIC. There is very low transparency about withdrawals, misleading details about the platform, and who knows what not that you can’t discover quickly.
Therefore, you should stick with top-tier licensed firms. If you have funds with this broker and you experience any potential issues, our refund specialists are available for consultation. Don’t be lazy to talk to our team because it can save you a ton of money eventually. Book your meeting now.
FAQ Section
What is TMi Markets?
TMi Markets is an offshore FX and CFD trading firm with presented offices in the UK, Germany, Saint Vincent and Grenadines, and Comoros Union.
Is TMi Markets Legit?
Even though they are licensed, there are too many irregularities for a licensed company. So, it’s up to you to decide if that’s a legitimate offer or not.
How to Withdraw Money From My TMi Markets Account?
You can try requesting withdrawal in the client area once you log in. If you experience any obstacles along the way, send a message to our chargeback team for advice.
Source:
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