TigerWit Forex Broker

Tigerwit Forex Broker - Complete Information Guide

1. Broker Overview

Tigerwit, officially known as Tigerwit Limited, was founded in 2015. The company is headquartered in London, United Kingdom, with additional offices in Beijing and Shanghai. As a private entity, it operates under various regulatory frameworks, aiming to serve a diverse clientele primarily across Africa, Europe, and Asia.

Over the years, Tigerwit has made significant strides in the financial technology sector, establishing itself as a prominent player in the forex and CFD trading markets. It has garnered recognition, including awards for being the Most Transparent Forex Broker in Africa and the Best Forex Fintech Broker in Asia at the Global Forex Awards 2020. The companys business model focuses on retail forex trading and the provision of services for institutional clients, leveraging advanced technology to enhance the trading experience.

Tigerwit operates as a holding company comprising four STP brokers, emphasizing its commitment to transparency and integrity in trading. The broker specializes in Contracts for Difference (CFDs), providing access to a wide range of trading instruments and markets.

2. Regulatory and Compliance Information

Tigerwit is regulated by several reputable international authorities, including:

• Financial Conduct Authority (FCA), UK - License Number: 679941
• Securities Commission of the Bahamas (SCB) - License Number: SIA-F 185
• Securities and Futures Commission (SFC), Hong Kong (previously held)

The regulatory licenses ensure that Tigerwit adheres to strict guidelines regarding client fund protection and operational transparency. The company is committed to maintaining client funds in segregated accounts, separate from its operational funds, thereby enhancing security for its clients.

In addition, Tigerwit participates in the Financial Services Compensation Scheme (FSCS), which provides clients with compensation of up to £50,000 should the company encounter financial difficulties. The broker implements robust Know Your Customer (KYC) and Anti-Money Laundering (AML) measures, ensuring compliance with international standards and safeguarding against illicit activities.

3. Trading Products and Services

Tigerwit offers a diverse range of trading products, primarily focusing on:

• Forex: Over 60 currency pairs, including major, minor, and exotic pairs.
• CFDs: Contracts on various assets, including indices, commodities, precious metals, and select cryptocurrencies.
• Special Products: The broker provides unique trading opportunities, particularly in the CFD market, appealing to both retail and institutional clients.

The company continuously updates its product offerings to meet the evolving needs of traders, ensuring that clients have access to the latest market instruments. Retail trading services are complemented by institutional services, including white-label solutions and asset management for qualified clients.

4. Trading Platforms and Technology

Tigerwit supports the widely recognized MetaTrader 4 (MT4) trading platform, known for its user-friendly interface and comprehensive trading tools. The platform provides:

• Web-based Trading: Accessible from any browser, allowing for seamless trading without the need for downloads.
• Mobile Applications: Available for both iOS and Android devices, enabling traders to manage their accounts and execute trades on the go.
• Execution Model: Tigerwit operates under a Straight Through Processing (STP) model, ensuring that trades are executed quickly and efficiently.

The broker emphasizes technological innovation, utilizing blockchain technology to enhance transparency and security in trading activities. This infrastructure supports automated trading via Expert Advisors (EAs), catering to various trading strategies and preferences.

5. Account Types and Trading Conditions

Tigerwit offers a straightforward account structure with the following key features:

• Standard Account: Minimum deposit of $50 with competitive spreads starting from 0.6 pips on major currency pairs. The account typically operates on a commission-free basis.
• Advanced Account Types: For professional traders, Tigerwit provides options that may include higher leverage and tailored trading conditions, although specific details on these accounts are less frequently disclosed.
• Islamic Accounts: Available for clients adhering to Sharia law, ensuring compliance with Islamic finance principles.
• Demo Account: A risk-free option for beginners to practice trading without financial exposure.

Leverage options vary, with a maximum of 1:200 for most accounts, allowing traders to manage their capital effectively while maximizing potential returns.

6. Fund Management

Tigerwit supports various deposit and withdrawal methods, including:

• Deposit Methods: Bank transfers, credit/debit cards, and e-wallets such as Skrill and Neteller.
• Minimum Deposit: The minimum requirement for opening an account is $50.
• Deposit Processing Time: Typically processed instantly, ensuring that traders can start trading without delay.
• Withdrawal Methods: Similar to deposit options, including bank transfers and e-wallets.
• Withdrawal Processing Time: Generally takes up to 24 hours, although this may vary based on the method used.
• Withdrawal Fees: The first four withdrawals each month are free, after which a fee of $1 is charged for subsequent withdrawals.

7. Customer Support and Educational Resources

Tigerwit provides customer support through multiple channels, including:

• Support Channels: Email, phone support, and social media platforms.
• Service Hours: Available 24/5, accommodating traders across different time zones.
• Multilingual Support: The broker offers assistance in various languages, including English, Spanish, German, Chinese, and Arabic.

In terms of educational resources, Tigerwit offers limited materials, primarily through its YouTube channel, which includes tutorials and market updates. However, the lack of a comprehensive educational platform may be a drawback for new traders seeking in-depth learning resources.

8. Regional Coverage and Restrictions

Tigerwit operates in over 60 countries, primarily targeting markets in Europe, Asia, and Africa. However, it does not accept clients from certain regions, including:

• United States
• Canada
• Japan
• Any other jurisdictions where CFD trading is prohibited.

The broker's regional offices help cater to the diverse needs of its global clientele, ensuring compliance with local regulations while providing tailored services.

In summary, Tigerwit is a broker that offers a range of trading products and services, supported by a reputable regulatory framework. While it has made strides in the market, potential clients should carefully consider the available resources and support before engaging with the platform.