Tongda foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website http://www.forex-gold-hsi.com/kaiHu.aspx, about the company's legal and temporary regulatory information, the company's address 8-th floor, 72 Prospect Mira, Moscow, 129110, Russia, Businesscenter.
Tongda Forex Broker
Basic information
Russia
5-10 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Overview of Tongda
Tongda, founded in Russia five to ten years ago, operates with a cloud of uncertainty surrounding its regulatory status.
Despite offering a variety of trading assets such as international spot foreign exchange and precious metals, Tongda suffers from significant drawbacks. These include an inaccessible official website, limited educational resources, high minimum deposit requirements, and reported user exposure involving pyramid scheme allegations and severe slippage issues.
The lack of regulatory oversight further compounds risks, potentially deterring traders from engaging with Tongda's services and casting doubts on its transparency and reliability in the financial industry.
Regulatory Status
Tongda, identified as a suspicious clone by the NFA, operates without regulatory oversight.
This absence of regulation raises significant risks among traders, as it indicates a lack of adherence to industry standards and investor protection measures. Without regulatory supervision, traders face increased risks of potential fraudulent activities, such as fund misappropriation, market manipulation, and unfair trading practices.
Pros and Cons
| Pros | Cons |
| Multiple trading assets | Official website inaccessible |
| Limited educational resources | |
| ldentified as a suspicious clone by the NFA | |
| High minimum deposit requirements($30,000) | |
| Faces significant user exposure, including complaints of pyramid scheme involvement, severe slippage issues |
Pros:
Multiple trading assets: Tongda offers a wide range of trading assets, including international spot foreign exchange, precious metals, energy, and stock index CFDs.
Cons:
Official website inaccessible: The inability to access Tongda's official website limits potential users' ability to gather essential information about the platform, including services offered, trading conditions, and regulatory status.
Limited educational resources: Tongda lacks comprehensive educational resources to support traders in improving their knowledge and skills in financial markets.
Identified as a suspicious clone by the NFA: Tongda's identification as a suspicious clone by the NFA raises significant risks about the platform's legitimacy and compliance with regulatory standards.
High minimum deposit requirements: Tongda imposes high minimum deposit requirements($30,000), potentially limiting access to the platform for traders with smaller capital amounts.
Faces significant user exposure: Tongda has faced significant user exposure, including complaints of involvement in pyramid schemes and severe slippage issues.
Market Instruments
Tongda International offers a range of financial derivative products for trading, primarily focusing on:
International Spot Foreign Exchange: This includes trading pairs of various global currencies, allowing investors to speculate on currency movements.
Precious Metals: Investors can trade precious metals such as gold, silver, platinum, and palladium, providing opportunities for diversification and hedging against inflation or economic uncertainty.
Energy: Trading energy products involves commodities like crude oil, natural gas, and other energy resources, allowing investors to participate in the volatile energy markets.
Stock Index CFDs: Tongda International provides Contracts for Difference (CFDs) on stock indices, enabling investors to speculate on the performance of major stock indices without owning the underlying assets.
Account Types
Standard Account:
The Standard account type offered by Tongda International features a maximum leverage of 1:100, providing investors with the opportunity to amplify their trading positions. With a minimum deposit requirement of $30,000, this account serves traders who have a moderate level of capital to invest. The minimum position size of 1 lot ensures that traders can engage in sizable transactions, potentially maximizing their profit opportunities.
Standard Benchmark Account:
The Standard Benchmark account type offered by Tongda International shares similar features with the Standard account, such as a maximum leverage of 1:100 and a minimum position size of 1 lot. However, it requires a higher minimum deposit of $50,000. This account type may appeal to traders who have a larger capital base and are looking for increased trading flexibility.
| Standard A | Standard | |
| Maximum Leverage | 1/100 | 1/100 |
| Minimum Deposit | $30,000 | $50,000 |
| Minimum Position | 1 lot | 1 lot |
Leverage
Tongda International offers a maximum leverage of 1:100, allowing investors to potentially amplify their trading positions by a hundredfold compared to their initial investment.
Trading Platform
Tongda offers a PC version of MetaTrader 4 (MT4), a widely acclaimed financial trading software among global investors. MT4 is lauded for its flexible order trading functions, market quotation, chart analysis, indicator programming, alert alarms, news updates, and email communication capabilities.
For on-the-go trading, Tongda provides a mobile version of MetaTrader 4 compatible with iPhone, iPad, and Android operating systems. Investors can conveniently monitor market developments, place orders, and manage trading accounts via smartphones or tablets, ensuring constant access to investment opportunities.
Trading hours span Monday to Friday, from 17:00 to 23:00, providing investors with a window to engage in trading activities within specified timeframes.
Deposit & Withdrawal
Tongda International requires a minimum deposit of $30,000 for its Standard account and $50,000 for its Standard Benchmark account. This initial deposit serves as the starting capital for traders to engage in financial market activities.
Customer Support
Tongda International's customer support is lacking in responsiveness and efficiency, evident in the limited avenues available for assistance and the absence of round-the-clock availability.
Despite providing a contact number 400-6946-094, accessibility remains a risk, especially for non-Hong Kong residents. The provided email,cs@forex-gold-hsi.com, may offer an alternative means of communication, but the absence of live chat or dedicated support channels leaves customers with few immediate solutions to their risks.
Risk Warning
Investors are strongly advised to exercise caution when considering Tongda International as a trading platform.
With a low score and lack of valid regulation, the company poses significant risks. Previous detection indicates no valid regulation, increasing vulnerability to potential scams. Additionally, a high number of complaints within the past three months raise further risks about the broker's reliability. Suspected clone claims of United States NFA regulation and the use of fake MT4 software amplify the risks associated with Tongda International. Investors are urged to stay away from this platform due to the considerable potential for financial loss and fraudulent activities.
Exposure
Tongda International faces significant user exposure, including complaints of pyramid scheme involvement, severe slippage issues, and accusations of being a fraudulent platform.
Users have reported difficulties withdrawing funds, encountering unauthorized account operations, and experiencing losses due to platform malpractices. The company's credibility is further undermined by allegations of scamming practices, including inducing newcomers into fraudulent schemes and using pirated trading software. Such negative user exposure not only damages the reputation of Tongda International but also erodes trust among potential traders, potentially deterring them from engaging with the platform.
Conclusion
In summary, Tongda presents a challenging landscape for prospective traders, with notable drawbacks overshadowing its limited advantages. While the platform offers a various array of trading assets, including foreign exchange and CFDs, its inaccessible official website and high minimum deposit requirements create significant hurdles for potential users. Moreover, Tongda's identification as a suspicious clone by the NFA raises serious questions about its credibility and regulatory compliance, casting doubt on its legitimacy and trustworthiness in the eyes of traders.
FAQs
Question: What trading assets does Tongda offer？
Answer: Tongda offers a variety of assets including international spot forex, precious metals, energy, and stock index CFDs.
Question: Is Tongda regulated？
Answer: No, Tongda is not regulated.
Question: What are the minimum deposit requirements for Tongda？
Answer: The minimum deposit for Tongda's Standard account is $30,000, while the Standard Benchmark account requires $50,000.
Question: Can I access Tongda's official website？
Answer: No, Tongda's official website is inaccessible, making it difficult for potential users to gather information about the platform.
Question: What is Tongda's leverage offering？
Answer: Tongda offers a maximum leverage of 1:100, allowing traders to amplify their positions, but this may increase the risk of losses.
Rating Index
Standard A
Standard
Tongda Similarly Rated Brokers
Latest Reviews
FX2616337976
Hong Kong
Fraud inducement cannot withdraw money, and there is an operation certificate according to the process, the operation certificate is not actually given. Asking for the operation certificate and they say no, it is extremely unreliable
Exposure
2021-12-13
liang4119
Hong Kong
The review of the withdrawal was rejected by the platform.
Exposure
2021-09-29
华仔710
Hong Kong
Tongda International Platform is a fake platform, and broken have induced fraud. At 1211, Daqing Building, Futian District, Shenzhen, a company called Huiliyin Software Technology Co., Ltd. uses Tongda International Platform to train new recruits. The training period is 3 days, and the assessment is required for 1 month before cooperation. In this way, interviewers was induced to deception. Evaluation standard: 1: After the interviewer has been trained, he needs to pay a 10% pledge deposit to participate in the real evaluation for an account with an account of 5,000 or 10,000 US dollars. 30% of the profit within 30 days is passed the assessment, and the profit part is divided into 3/7. If the loss is more than 20%, the pledge deposit will be deducted. Evaluation Standard 2: To open a demo account, you need to pay an application fee of 666 yuan, and the application fee is non-refundable. The company uses the method of interview training for newcomers to allow the interviewers to be interested in forex and conduct real market assessments. To open a 5,000 US dollar account, you need to pledge 500 US dollars, that is, 4000 RMB. 10 people = 40,000 RMB, 200 people are interviewed a month, at least 150 people will participate in the actual assessment, that is, 150 people will pay 4,000 yuan, a total of 600,000. It is very normal for a rookie to lose 100%, and they use this to cheat. The other party claimed to be a fixed exchange rate of 1:8, 500 US dollars or 4000 RMB, and the MT4 platform used was pirated, which was completely fraudulent.
Exposure
2021-12-15