RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
TIO Markets is a UK forex and CFD broker, licensed and authorized by the British Financial Conduct Authority (FCA). The broker offers a nice variety of currency pairs and CFDs with competitive spreads and the MetaTrader4 platform. More information about their offer you can find in the following paragraphs.
TIO UK trading conditions
We tested TIO Markets‘ trading platform with a demo account and the benchmark EURUSD spread floated around 1 pip, which is definitely attractive especially when we are talking about a standard account. And besides the broker offers even better conditions with its ECN Premier Account, where spreads are advertised to start as low as 0.4 pips without a trading commission.
As for the trading instruments the list is pretty comprehensive – CFDs on oil, silver and gold, indices, stocks, crypto coins like Bitcoin, Ethereum, Ripple, Litecoin and Dash, and 45 currency pairs, many of which crosses, minor or exotic like USDNOK, USDSEK, USDZAR, USDHKD, USDSGD, USDMXN, USDTRY, USDHUF, USDPLN and USDCNH.
The maximum leverage offered by TIO Markets is in line with the latest regulations of the the European Securities and Markets Authority (ESMA) – 1:30 for the forex transactions and 1:20 with CFDs. Besides, to trade with a more conservative leverage is pretty reasonable having in mind that the percent of traders who lose money raises proportionally with the leverage.
TIO UK regulation & safety of funds
Back in November 2018 Trade.io, a block chain technology company acquired Primus Capital Markets Ltd, a UK broker company licensed by the Financial Conduct Authority (FCA), and rebranded it to TIO Markets.
TIO Markets is the UK subsidiary of TIO Markets UK Limited, and is also licensed and authorized by the FCA.
All that makes trading with TIO Markets completely safe, because FCA is one of the most highly regarded financial regulators in the industry.
The British watchdog requires all licensed brokers to report regularly, to allow external audits, to keep all clients’ money in a segregated, protected from creditors, trust account, to maintain at all times a minimum operational capital of at least 730 000 EUR, to give traders a negative balance protection and to refrain form offering trading bonuses.
On top of that all FCA regulated brokers are required to participate in a client compensation scheme, under which the capital in your trading account will be insured for up to 85 000 GBP – money that will be payed back to you in case your broker files for bankruptcy.
TIO UK trading platforms
TIO Markets supports the MetaTrader4 platform – the most popular trading platform on the market. MT4 has been around for more than 10 years and a great quantity of trading software has been developed specifically for it.
The platform is highly customizable, with nearly 100 in build market indicators and trading robots, which will help you run automated trading sessions. Another reason to choose MT4 are the advanced charting tools and of course the user friendly interface.
TIO UK deposit/withdrawal methods and fees
TIO Markets does not specify any minimum deposit requirement, and yet it is advisable to start trading with about 200 USD – 250 USD, so that you will be able to support your positions.
TIO Markets is supported in English, Chinese, Russian, Spanish and Polish.