TPS 2025 Review: Everything You Need to Know
Summary: The TPS Forex broker has garnered significant negative attention in recent reviews, with a notably low trust score and numerous user complaints regarding withdrawal issues and regulatory concerns. The broker's operational status is questionable, and it is often labeled as a suspicious clone by various sources.
Note: It is crucial to consider the different entities operating under the TPS name across various jurisdictions, as this may impact the overall trustworthiness and regulatory compliance of the broker.
Rating Box
We score brokers based on user feedback, expert opinions, and factual data from multiple sources.
Broker Overview
TPS, established in 2019, is a forex broker primarily based in China. The broker claims to offer services via the MetaTrader 4 (MT4) platform, but its operational integrity is under scrutiny due to its low regulatory status. TPS is associated with BHP Trading Group Limited, which holds a license number from the Financial Service Providers Register (FSPR). However, multiple reports label TPS as a suspicious clone, raising serious questions about its legitimacy and operational practices.
Detailed Section
Regulated Geographical Areas:
TPS claims to operate in various regions, but its regulatory status is ambiguous. Many reviews indicate that it lacks proper oversight from reputable financial authorities, contributing to its classification as a high-risk broker.
Deposit/Withdrawal Currencies/Cryptocurrencies:
The broker reportedly allows deposits and withdrawals in multiple currencies, but specific details on transaction methods and supported cryptocurrencies are lacking. Users have expressed frustration with withdrawal processes, often citing difficulties in accessing their funds.
Minimum Deposit:
While the exact minimum deposit requirement is not consistently reported, some sources suggest that it could be as low as $100. However, the lack of transparency raises concerns about the actual conditions.
Bonuses/Promotions:
There are no clear promotions or bonuses mentioned in the reviews, indicating that TPS may not offer competitive incentives to attract new traders.
Tradeable Asset Classes:
TPS claims to provide access to various asset classes, including forex and CFDs. However, the specifics about available trading pairs and instruments are not well-documented, further complicating the decision for potential traders.
Costs (Spreads, Fees, Commissions):
The information regarding trading costs is vague, with some reviews highlighting high spreads and hidden fees that can significantly impact trading profitability.
Leverage:
Leverage options are not explicitly stated in the available reviews, but it is essential for traders to understand the risks associated with high leverage, especially with a broker of TPS's reputation.
Allowed Trading Platforms:
TPS primarily operates on the MT4 platform, which is widely recognized among traders for its user-friendly interface and extensive features. However, the reliability of this platform is questioned due to the broker's overall trustworthiness.
Restricted Regions:
While specific information on restricted regions is not provided, the broker's questionable regulatory status may deter traders from certain jurisdictions, particularly those with stringent trading laws.
Available Customer Service Languages:
Customer service is reportedly limited, with many users expressing dissatisfaction with the support they received, often citing unresponsive customer service channels.
Repeated Rating Box
Detailed Breakdown
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Account Conditions: User feedback indicates significant issues with account management, often citing sudden account closures and inability to withdraw funds. According to WikiFX, TPS has a troubling history of users unable to access their funds, leading to a score of 2.
Tools and Resources: While TPS claims to provide access to the MT4 platform, the lack of additional trading tools and resources has resulted in a score of 3. Users have reported a need for better educational materials and market analysis.
Customer Service and Support: The customer service experience is rated poorly, with many users reporting unresponsive support channels. A score of 1 reflects the widespread dissatisfaction with the lack of assistance during critical issues.
Trading Setup (Experience): The overall trading experience has been marred by withdrawal difficulties and platform accessibility issues, leading to a low score of 2. Users have expressed frustration over the broker's failure to provide a reliable trading environment.
Trustworthiness: TPS has been labeled as a suspicious clone by multiple sources, resulting in a score of 1 for trustworthiness. The broker's regulatory status raises significant red flags for potential investors.
User Experience: Overall user experience has been significantly impacted by withdrawal issues and lack of transparency. A score of 2 reflects the negative experiences shared by users across various platforms.
In conclusion, TPS is a broker that potential traders should approach with extreme caution. The numerous complaints regarding withdrawal issues, lack of regulatory oversight, and poor customer service paint a concerning picture. It is highly recommended to conduct thorough research and consider alternative brokers with better reputations before committing any funds.
