Tullett Prebon Forex Broker
Basic Information
United Kingdom
5-10 years Suspicious Regulatory License Suspicious Scope of Business Suspicious Overrun High potential riskCompany profile
Rating Index
Pros
Wide range of tradable assets including forex, commodities, and indices
Multiple customer support channels available
Fast execution speed for trades
Cons
Unregulated status raises concerns about safety and reliability
Suspicious regulatory license and potential for being a clone broker
Lack of transparency regarding trading conditions and account types
Tullett Prebon Forex Broker - Complete Information Guide
1. Broker Overview
Tullett Prebon, established in 2006, is a prominent interdealer broker operating primarily in the wholesale financial and energy sectors. The company is headquartered at Tullett Prebon Group Ltd, 135 Bishopsgate, London, United Kingdom. It operates as a private entity and serves a diverse clientele, including commercial and investment banks, offering a range of trading services.
The firm specializes in facilitating trading activities across various financial instruments, including fixed income securities, interest rate derivatives, commodities, and foreign exchange (forex). Tullett Prebon has a rich history that dates back to its foundation, with significant milestones including its acquisition of PVM Oil Associates in 2014, which expanded its offerings in the energy sector. Additionally, Tullett Prebon is now part of TP ICAP, having merged with ICAP, which enhances its position in the global brokerage market.
The business model of Tullett Prebon focuses on providing both electronic and voice brokerage services, catering to institutional clients. This hybrid approach allows the broker to offer comprehensive trading solutions, ensuring that clients have access to the necessary tools and platforms to execute their trading strategies effectively.
2. Regulatory and Compliance Information
Tullett Prebon operates under a regulatory framework that involves various authorities, although it is currently unregulated in certain aspects. The primary regulatory body overseeing Tullett Prebon is the Financial Conduct Authority (FCA) in the United Kingdom. However, it is important to note that the broker has faced regulatory challenges in the past, including a fine of £15.4 million imposed by the FCA for broker conduct failures.
The regulatory license numbers and specific details regarding compliance are not disclosed in the available sources. Tullett Prebon has been involved in investigations concerning improper trading practices, leading to scrutiny over its internal controls and compliance measures. The firm asserts its commitment to adhering to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, although specific policies and procedures are not detailed in the available information.
Clients' funds are managed with a focus on security, but the absence of a clear investor compensation scheme raises concerns about the protection of client assets. Tullett Prebon emphasizes the importance of maintaining robust compliance protocols to mitigate risks associated with trading activities.
3. Trading Products and Services
Tullett Prebon offers a wide array of trading products, primarily focusing on forex and contracts for difference (CFD). The broker provides access to numerous forex currency pairs, allowing clients to trade major, minor, and exotic currencies. However, specific details regarding the total number of available currency pairs are not mentioned.
In addition to forex, Tullett Prebon offers various CFD products, including but not limited to:
- Indices
- Commodities
- Equities
- Energy Products
The broker is known for its innovative trading solutions, and it frequently updates its product offerings to align with market demand. Tullett Prebon also caters to both retail and institutional clients, providing tailored services that meet the unique needs of each segment. While specific details regarding white-label solutions and asset management services are not provided, the firm is recognized for its expertise in institutional trading.
4. Trading Platforms and Technology
Tullett Prebon does not support popular platforms such as MetaTrader 4 (MT4) or MetaTrader 5 (MT5). Instead, the broker has developed its own proprietary trading platform designed to meet the needs of its clients. The platform offers a user-friendly interface and advanced trading features, although specific functionalities and performance metrics are not detailed in the available sources.
The broker also provides a web-based trading platform that allows clients to access their accounts and execute trades from any location. Additionally, mobile applications are available for both iOS and Android, enabling traders to manage their accounts on the go.
Regarding execution models, Tullett Prebon operates primarily as an interdealer broker, facilitating trades between parties rather than acting as a market maker. The firm's server infrastructure is designed to ensure reliable and fast order execution, although specific details about server locations and technology are not disclosed.
API access and automated trading support are not explicitly mentioned, indicating that Tullett Prebon may focus on manual trading solutions for its clients.
5. Account Types and Trading Conditions
Tullett Prebon offers various account types tailored to meet the diverse needs of its clients. However, specific details regarding the minimum deposit requirements, spreads, and commissions for standard accounts are not provided in the available information.
For advanced traders, Tullett Prebon may offer specialized account types, including VIP or professional accounts, although the criteria for these accounts are not explicitly defined. The broker does not appear to offer Islamic accounts or corporate accounts based on the available data.
The minimum trade size and overnight fees are not specified, but Tullett Prebon provides leverage options that vary depending on the product traded. The firm typically adheres to industry standards regarding leverage, allowing clients to maximize their trading potential while managing risk effectively.
6. Fund Management
Tullett Prebon supports a variety of deposit methods, including bank transfers, credit cards, and potentially e-wallets, although specific payment options are not detailed. The broker's minimum deposit requirements may vary based on the account type, but this information is not explicitly provided.
Deposit processing times are not specified, and there is no mention of fees associated with deposits. Withdrawal methods and restrictions are also not detailed, indicating that clients should consult the broker directly for comprehensive information.
Withdrawal processing times are typically standard in the industry, but specific timelines are not disclosed. Additionally, the fee structure for withdrawals is not provided, suggesting that clients may incur costs depending on the payment method utilized.
7. Customer Support and Educational Resources
Tullett Prebon offers multiple channels for customer support, including telephone, email, and online chat. The firm operates within the UK time zone, providing services during regular business hours. However, specific details regarding service hours and time zone coverage are not mentioned.
The broker supports multiple languages, although the exact languages available for customer support are not specified. Tullett Prebon provides educational resources, including webinars, tutorials, and potentially e-books, although specific offerings are not detailed.
Market analysis services, such as daily reports, news updates, and research publications, are likely available to clients, but specific details are not provided. Additionally, trading tools, including calculators and calendars, may be offered to enhance the trading experience.
8. Regional Coverage and Restrictions
Tullett Prebon primarily serves clients in the United Kingdom and has a global presence, with offices in key financial centers. The broker's regional offices are located in major cities, although specific locations are not detailed.
Certain countries and regions may be restricted from accessing Tullett Prebon's services, but the exact list of prohibited jurisdictions is not provided. Special restrictions related to specific trading products or services are not mentioned, indicating that clients should verify eligibility based on their location.
In conclusion, Tullett Prebon is a significant player in the interdealer brokerage market, offering a range of financial services tailored to institutional clients. While the broker has faced regulatory challenges, it continues to operate with a focus on compliance and client service. The diverse product offerings and commitment to innovation position Tullett Prebon as a noteworthy option for traders seeking access to wholesale financial markets.