TNFL FX Review 1
The verification process for bank accounts needs to be more facilitated than this in some countries as I can't get a bank statement with the IBAN on the same paper.


TNFL FX Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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The verification process for bank accounts needs to be more facilitated than this in some countries as I can't get a bank statement with the IBAN on the same paper.
Summary: TNFL FX has emerged as a controversial forex broker since its inception in August 2023. Most reviews indicate that it operates without proper regulation, raising significant concerns about its legitimacy and user safety. Key issues reported include difficulties in fund withdrawals and unresponsive customer support.
Note: It's essential to recognize that TNFL FX claims to operate from the UK, but independent verification of its regulatory status reveals it lacks authorization from credible financial authorities. This discrepancy highlights the importance of thorough due diligence when choosing a broker.
Category | Rating (Out of 10) |
---|---|
Account Conditions | 2 |
Tools and Resources | 3 |
Customer Service | 1 |
Trading Experience | 2 |
Trustworthiness | 1 |
User Experience | 2 |
How We Rate Brokers: Our ratings are based on a comprehensive analysis of user experiences, expert opinions, and factual data regarding the broker's services and regulatory status.
Founded in August 2023, TNFL FX presents itself as a forex broker offering access to various financial instruments, including forex, commodities, indices, and cryptocurrencies. Despite claiming to operate from London, TNFL FX is unregulated and has received warnings from the UK's Financial Conduct Authority (FCA) regarding its unauthorized activities. The broker reportedly offers a proprietary trading platform but lacks the advanced features found in established platforms like MT4 or MT5.
Regulatory Regions: TNFL FX claims to operate in the UK, but it is not authorized by the FCA or any other recognized financial authority. The broker's registration with the Financial Crimes Enforcement Network (FinCEN) does not confer legitimacy, as FinCEN primarily addresses anti-money laundering, not forex trading.
Deposit/Withdrawal Methods: TNFL FX offers limited deposit and withdrawal options, primarily focusing on bank wire transfers and cryptocurrencies. This lack of transparency raises concerns about the ease of accessing funds.
Minimum Deposit: There is no clear information regarding the minimum deposit required to open an account with TNFL FX, which is a significant red flag for potential investors.
Bonuses/Promotions: TNFL FX does not appear to offer any bonuses or promotions, which is unusual for brokers aiming to attract new clients.
Tradable Asset Classes: The broker claims to provide trading opportunities in forex, commodities, indices, and cryptocurrencies. However, the lack of transparency regarding specific asset offerings and conditions is concerning.
Costs (Spreads, Fees, Commissions): TNFL FX's spreads are reported to be average, with a spread of around 2.2 pips for major currency pairs. However, there is insufficient information regarding additional fees or commissions.
Leverage: TNFL FX offers leverage of up to 1:400, which exceeds the limits set by the FCA for retail traders. While high leverage can be attractive, it poses significant risks, particularly for inexperienced traders.
Allowed Trading Platforms: The broker claims to provide a proprietary trading platform, but reviews indicate it lacks the advanced tools and features necessary for effective trading.
Restricted Regions: There is no clear information regarding regions where TNFL FX is restricted, but the lack of regulation suggests that it may not be suitable for traders in jurisdictions with strict regulatory requirements.
Available Customer Service Languages: TNFL FX appears to offer limited customer support, primarily through email, which has been criticized for slow response times. The absence of real-time support options like live chat or phone assistance is a significant drawback for users.
Category | Rating (Out of 10) |
---|---|
Account Conditions | 2 |
Tools and Resources | 3 |
Customer Service | 1 |
Trading Experience | 2 |
Trustworthiness | 1 |
User Experience | 2 |
Account Conditions (2/10): TNFL FX lacks transparency regarding account types and minimum deposit requirements, which is a significant concern for potential investors.
Tools and Resources (3/10): The proprietary trading platform offered by TNFL FX is reported to be basic and lacks advanced features, making it less appealing to experienced traders.
Customer Service (1/10): User reviews highlight severe issues with customer support, including unresponsiveness and difficulties in withdrawing funds.
Trading Experience (2/10): The overall trading experience with TNFL FX is marred by concerns regarding the platform's reliability and the broker's lack of transparency.
Trustworthiness (1/10): The absence of proper regulation and the FCA's warning against TNFL FX significantly undermine its credibility and trustworthiness.
User Experience (2/10): Many users report negative experiences, including challenges with fund withdrawals and poor customer service, leading to an overall unsatisfactory user experience.
In conclusion, TNFL FX presents numerous red flags for potential investors. The lack of regulation, poor customer service, and negative user experiences suggest that traders should exercise extreme caution or consider alternative, more reputable brokers.