Tongda International Broker Review

Tongda International Review 3

Latest All(3) Neutral(1) Exposure(2)

Neutral

Tongda's Obscure Fees & Conditions: A Puzzle for Traders

Tongda's trading fees and conditions are a real puzzle. They're so unclear; it's like they're playing hide and seek with important details. You never really know what you're getting into.

Jesse Hamilton

2023-10-12

Exposure

From June 16, 2022 to January 10, 2023, the 18th withdrawal failed in Tongda International within 7 months. Tongda International cannot withdraw funds under the following circumstances: 1. Holding positions cannot withdraw funds, no matter how much margin you have. 2. The funds in the same name account cannot be withdrawn within 7 working days. 3. No withdrawals are allowed during the real-name competition. 4. It takes 3 working days for the funds to be transferred and withdrawn if the funds fail to be returned, and the withdrawal cannot be made again within 3 working days after the funds are returned to the account. 5. It is invalid to open a position within 2 hours of applying for withdrawal, and withdraw at least 5 working days later. Even if Tongda International allows you to withdraw money, it usually takes about half a month to withdraw money.

+1

觉勿

2023-01-11

Exposure

Fraud Series Episode 1

Hantec International cannot withdraw funds under the following circumstances: 1. Holding positions cannot withdraw funds, no matter how much margin you have. 2. The funds in the same name account cannot be withdrawn within 7 working days. 3. No withdrawals are allowed during the real-name competition. 4. It takes 3 working days for the funds to be transferred and withdrawn if the funds fail to be returned, and the withdrawal cannot be made again within 3 working days after the funds are returned to the account. 5. It is invalid to open a position within 2 hours of applying for withdrawal, and withdraw at least 5 working days later. In short, even if Tongda International allows you to withdraw money, it can be withdrawn once every half a month at most. Do everything possible to prevent you from withdrawing money, and in the end, even a little profit will prevent you from withdrawing. A typical fraudulent unscrupulous platform that can only make money but not lose money. Continuously update the fraud series, to be continued!

觉勿

2022-12-28

Tongda International 2025 Review: Everything You Need to Know

　　In this comprehensive review of Tongda International, we uncover a broker that operates under a cloud of skepticism, primarily due to its lack of regulation and numerous user complaints. While the platform offers a range of trading assets and some appealing features, serious concerns about its legitimacy and user experience remain prevalent.

　　Note: It's important to recognize that there are multiple entities operating under the Tongda name across different regions, which may contribute to the varying user experiences reported. Our analysis aims for fairness and accuracy by referencing multiple sources.

Ratings Overview

Category	Score (out of 10)
Account Conditions	3
Tools and Resources	4
Customer Service and Support	2
Trading Setup (Experience)	4
Trustworthiness	2
User Experience	3

　　How We Rate Brokers: Our ratings are based on user feedback, expert opinions, and factual data regarding the brokers offerings and performance.

Broker Overview

　　Founded approximately 5 to 10 years ago, Tongda International operates from Russia and presents itself as a forex broker offering a variety of trading assets, including international spot forex, precious metals, energy commodities, and stock index CFDs. The broker provides its services through the widely-used MetaTrader 4 platform, which is compatible with both PC and mobile devices. However, a significant drawback is its lack of valid regulatory oversight, which raises red flags for potential traders.

Detailed Analysis

Regulatory Status

　　Tongda International operates without valid regulatory oversight, which is a significant concern for traders. Identified as a suspicious clone by the NFA, this absence of regulation suggests that the broker does not adhere to industry standards or investor protection measures. This poses substantial risks, including potential fund misappropriation and unfair trading practices. According to WikiFX, the broker's regulatory index is alarmingly low, indicating high potential risk.

Deposit and Withdrawal

　　The minimum deposit requirement for opening an account with Tongda International is set at $30,000 for its standard account, which is quite high compared to other brokers in the market. Users have reported severe difficulties in withdrawing funds, often encountering various restrictions that prevent them from accessing their capital. Complaints detail that withdrawals are often delayed or outright denied, leading to frustrations among users who feel trapped within the platform. This aligns with findings from multiple sources, including WikiFX, which highlighted numerous cases of users unable to withdraw their funds.

Available Assets

　　Tongda International offers a range of trading assets, including forex pairs, precious metals like gold and silver, energy commodities such as crude oil, and stock index CFDs. However, while the variety may seem appealing, the lack of regulatory oversight raises questions about the security and reliability of trading these assets on the platform.

Costs

　　The broker does not provide clear information on spreads and commissions, which adds to the uncertainty surrounding its trading conditions. Reports suggest that costs may be higher than average, but without transparent disclosures, traders are left guessing. The maximum leverage offered is 1:100, which can amplify both potential gains and losses, particularly for inexperienced traders.

Trading Platforms

　　Tongda International utilizes MetaTrader 4, a well-regarded trading platform known for its user-friendly interface and robust features. However, the overall trading experience is marred by the broker's poor customer service and the accessibility issues of its official website, which has been reported as frequently down or inaccessible.

Customer Service

　　Customer service is another area where Tongda International falls short. Users have reported a lack of responsiveness and efficiency when seeking assistance. The only available contact methods are a customer service phone number and an email address, with no live chat option available. This limitation can lead to prolonged waiting times for support, further aggravating user frustrations.

Language Support

　　While the broker primarily operates in English, the lack of multilingual support limits its accessibility for non-English speaking traders. This may pose additional challenges for users seeking assistance or information in their preferred language.

Conclusion

　　In summary, the Tongda International review reveals a broker fraught with significant drawbacks that overshadow its limited advantages. While it offers a range of trading assets and utilizes a popular trading platform, the lack of regulation, high minimum deposit requirements, and numerous user complaints about withdrawal issues create a daunting landscape for prospective traders. Given the considerable risks involved, potential clients are strongly advised to exercise caution and consider alternative, more reputable brokers before engaging with Tongda International.

　　As always, thorough research and due diligence are essential when selecting a trading platform, especially one that operates under such questionable circumstances.