TOKEN foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website http://www.tokenfxmarket.com/zh-cn/read.jsp?id=61, about the company's legal and temporary regulatory information, the company's address .
TOKEN Forex Broker
Basic Information
United Kingdom
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskRating Index
Standard
Mini
Token Forex Broker - Complete Information Guide
1. Broker Overview
Token Market Ltd, commonly referred to as Token, was established in 2018. The broker is headquartered in the United Kingdom, with its primary operational office located in Hong Kong. Token operates as a private company, offering a range of trading services primarily to retail and institutional clients interested in forex, commodities, and other financial instruments.
Since its inception, Token has aimed to provide a diversified trading platform, catering to a broad range of market participants. Over the past few years, the broker has expanded its offerings, establishing itself as a player in the competitive forex market. Key milestones in its development include the launch of its trading platform and the introduction of various trading instruments, which have helped it attract a growing customer base.
Token operates under a white label model, which allows it to offer services through established platforms like MetaTrader 4 and MetaTrader 5. This business model enables Token to provide comprehensive trading solutions while minimizing operational overheads typically associated with proprietary platforms.
2. Regulatory and Compliance Information
Token is currently operating without valid regulatory oversight. There are no known licenses issued by reputable regulatory bodies, which raises significant concerns regarding its legitimacy as a financial service provider. This lack of regulation poses potential risks to clients, as they are not afforded the protections typically associated with regulated entities.
The absence of a regulatory framework means that Token does not have a regulatory number, nor does it participate in investor compensation schemes that would typically safeguard client funds in the event of insolvency or malpractice. Furthermore, the broker's policies on Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance are not publicly detailed, which is a critical factor for potential investors to consider.
Clients should be aware that the lack of regulatory oversight can lead to operational opacity, making it essential to conduct thorough due diligence before engaging in trading activities with Token.
3. Trading Products and Services
Token offers a diverse range of trading products, including more than 30 forex currency pairs that cover major, minor, and exotic currencies. Additionally, traders can access Contracts for Difference (CFDs) across various asset classes, including indices, commodities like oil and gold, and stock CFDs. This extensive product range provides clients with opportunities to diversify their trading strategies.
In terms of unique offerings, Token provides access to both traditional and emerging markets, including cryptocurrencies, although specific details regarding these instruments are not extensively highlighted. The broker's commitment to updating its product offerings regularly is evident, though specific timelines or details on new additions have not been disclosed.
Token primarily serves retail traders, but it also offers services tailored to institutional clients, allowing them to engage in more sophisticated trading strategies. The inclusion of white label solutions indicates that Token is positioned to support other brokers or financial institutions looking to leverage its trading infrastructure.
4. Trading Platforms and Technology
Token provides access to the widely recognized MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which are favored for their user-friendly interface and robust features. While the broker claims to support these platforms, concerns regarding its regulatory status cast doubt on the reliability of the services offered.
In addition to MT4/MT5, Token has developed a web-based trading platform, allowing for seamless access from various devices. However, detailed information about the platform's features and functionalities is not extensively available.
Token also claims to support mobile trading applications for both iOS and Android, enabling traders to manage their accounts on the go. The execution model appears to be a mix of ECN and market making, although specific details regarding execution speed and slippage have not been provided.
The broker's infrastructure is reportedly located in Hong Kong, which is a strategic location for trading operations. However, the lack of transparency regarding server reliability and technological robustness raises concerns for potential clients.
5. Account Types and Trading Conditions
Token offers various account types, with the standard account requiring a minimum deposit of $1,000. The specific conditions, such as spreads and commissions, have not been explicitly mentioned, which could be a red flag for prospective traders.
In addition to standard accounts, Token may offer premium or VIP accounts, although details on these account types are not thoroughly outlined. Special account options, such as Islamic accounts, are not mentioned, which may limit options for clients seeking Sharia-compliant trading solutions.
The broker advertises a leverage ratio of up to 1:200, which is significantly higher than the regulatory limits set by authorities in the UK and EU. Such high leverage can amplify both potential gains and losses, making risk management crucial for traders.
Token does not appear to offer a demo account for prospective clients to test the trading environment, which is a standard feature among reputable brokers. This absence may deter new traders from engaging with the platform.
6. Fund Management
Token supports various deposit methods, including bank transfers and credit cards. However, specific details regarding the minimum deposit requirements for different account types are not clearly stated.
Deposit processing times are reportedly instant, but the broker has not disclosed any associated fees for deposits, which could further complicate the cost of trading.
Withdrawal methods include traditional banking options, although the specifics regarding withdrawal limits and processing times are vague. Clients should be cautious as the lack of transparency surrounding withdrawal policies can lead to potential delays or complications during the withdrawal process.
The broker does not provide clear information on the fees structure related to withdrawals, which can be a significant concern for clients looking to manage their trading costs effectively.
7. Customer Support and Educational Resources
Token offers customer support through multiple channels, including telephone, email, and online chat. The primary contact number is +852 3706 9586, and support is available in Simplified Chinese, which may cater to a specific demographic of traders.
The service hours and time zone coverage have not been explicitly mentioned, which could affect clients in different regions. Additionally, the availability of multilingual support is limited to Chinese, potentially alienating non-Chinese speaking clients.
In terms of educational resources, Token does not appear to offer extensive training materials such as webinars, tutorials, or e-books. This lack of educational support may hinder new traders from gaining the knowledge necessary to navigate the forex market effectively.
Market analysis services, including daily reports and research, are not prominently featured, which could limit traders' ability to make informed decisions based on market trends.
8. Regional Coverage and Restrictions
Token primarily serves clients in the United Kingdom and Asia, with a focus on markets that are familiar with forex trading. The broker has not provided specific details on its regional offices, which could be a concern for clients seeking localized support.
However, Token does not accept clients from several jurisdictions, including the United States, due to regulatory restrictions. This limitation may affect potential traders looking for a broker with a broader reach.
The broker's operational policies regarding special restrictions have not been disclosed, which could lead to ambiguity for clients regarding their eligibility to trade.
In conclusion, while Token presents a range of trading opportunities, the lack of regulatory oversight, transparency in operations, and comprehensive support services raises significant concerns for potential clients. Prospective traders are advised to conduct thorough research and consider the risks associated with engaging with an unregulated broker like Token.
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Latest Reviews
story972
Taiwan
When applying for a job on Facebook, I encountered an e-wallet with a fraud amount of about 69,236 USDTimToken. I then took the money and went to a physical store in CoinWorld to deposit USDT to buy USDT. After I bought it, he taught me how to use the e-wallet to transfer usdt currency. Finally, he transferred the currency to Taiwan dollars to Simple Soho ( 1. On the platform (website: https://money88.ezsoho.store/), create an account and password that belongs to me, and ask me to come in and see if the amount is correct. If the amount is correct, I will be invited to join Helen Mentor Lai told him. I want to join the class with a guaranteed capital of 1.93 million. After the instructor asked for basic information, he started the operation. The operation time is about 3 hours. After the operation, please go to the platform to see if the profit amount is correct. If there is no problem, go to the simple SOHO platform to set up a bank account. Withdrawal, after I withdraw through the platform operation, I have to rely on online text customer service to tell me how much I want to withdraw, and then the customer service will help with the withdrawal. During the withdrawal process, customer service asked me if my member account was wrong. When I saw it, the account number was wrong. 1 code, and immediately let me know if the account can be modified. At this time, when I entered the Simple SOHO platform, my bank account could not be seen at all. The customer service replied that if I wanted to change my account, I had to report it to Jinliu Fang. Finally, Jinliu Fang replied that the account was frozen. If you want to change your account, you have to pay 10% of the profit and a setup fee. Later, I told the editor-in-chief Winnie that my account was frozen and I couldn’t withdraw it, so I had to pay 10% of the profit and a setup fee. He asked me to go with him first. My friend borrowed money, and then he would help me pay some out. On the night of December 22, he asked me how much I had borrowed. I said it was currently 390,000, and he said he had 2.7 million (e-wallet). He would also help me deposit money as a guarantee without giving up the amount. I was kicked back. At noon on December 23, I asked if I could use 290,000 of the 390,000 to repay the agency fee. He said no. How can you use it to pay the agency fee? How can you use the money to deposit? If you and your husband can’t borrow it, The 40 million was gone. He said I already helped you with 2.7 million. You have to work hard. Otherwise, how about relying on her?? He also asked to borrow money from relatives and friends in other ways. After all, they didn’t understand, so don’t talk about it. There were too many, so I just followed his way. However during the borrowing process, my friend said that you were cheated, and then he asked if the store had made a reservation. I said that I had asked and it hadn’t opened. He said that Taozhu Miao had asked Taipei I also asked, but in the end, I said he didn't open it, so he asked me to deposit money by transfer. He wanted to ask customer service how to do it. I said I couldn't transfer too much of my transfer limit, and he taught me how to increase the transfer limit, and finally asked me to join. One group said that there was an accountant in it, and he asked Mengmeng Accounting for a long time before he was willing to help. The accountant said that he would help me find a currency dealer that I could meet with in person, and then asked me not to answer randomly. If the currency dealer asked me, I would take a screenshot and show it to him. , teach me how to tell the currency dealer that I want to meet in person. The dealer confirmed that my ID card was fine and asked me where I wanted to meet in person. When I first started, I said 12/24 morning, but the editor-in-chief Winnie said it couldn’t be tonight. Why don’t you delay? The amount of rebates that were deducted was hundreds of thousands per day, which was exaggerated. I asked the currency dealer again and he said that it was possible tonight, but the drive to my home would take more than two hours. Winnie asked me to wait and he would wait with me. At about 23:00 on 12/23, he asked me if the currency dealer had arrived. I said so, and Winnie said that he would wait for me to make an appointment with the currency dealer in person. After the interview, he asked me to transfer money to him in the electronic wallet, and he would notify customer service. Transfer the money to the cash flow party as a guarantee. Is this good? Winnie said that the temporary profit department will be rebateed. There is still 930,000 left. She asked me to continue working hard because my friends kept saying that I was cheated, so on 12/24 In the morning, I went online to check the news about the account being locked on the Simple SOHO platform. As expected, I found the same case, so I called the 165 fraud hotline. After asking, they told me that I had been cheated and asked me to report the case. I also When I went to the police station to make a record, Chief Vinnie kept asking me if there was any progress on the funds. I said no. I have no money now and my friends don’t want to borrow money. Then my friend and the loan officer kept asking me for money. I didn’t know what to do. He said I have helped you so much, why do you want to give up on yourself like this? I said this money makes me very stressed, and Winnie said I have helped you to this extent, and you said you want to give up only after Are you kidding me?? I helped you with a lot of money. Winnie called me the e-wallet address of my transfer: 1.TTkJfKQsVn42dHTxpznKnB759sZtvSxQTD2.TUSRm14eZ23GgVZKTgV7LWwVs46hn9ismC
Exposure
2024-02-03
小さい葉
Nigeria
Watch out for TOKEN trading platform! They start off friendly on IG, teaching you blockchain trading. But be careful—they'll lure you in, activate your account without explanation, and gift you 1888 USDT that you can't touch. They say you can only withdraw after reaching 58888 USDT, restricting your access. Despite pleading for flexibility, customer service stays firm.
37130
2023-12-27
FX4050818202
Taiwan
I don't know why the money in the wallet was transferred out.
Exposure
2024-07-30