RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Upon opening Tixee we noticed a couple of third party charts here and there, and as soon as we saw these we knew for sure that this broker will have something shady going on about it. It’s all a matter of patterns, really. Every broker we have reviewed that emphasizes the usage of a third party chart, and overuses it, is not regulated. However, Tixee might be a very rare exception to this rule. As it turns out, this broker is regulated, albeit by an offshore agency. Read the review to find out all there is to know off this broker.
In order to create an account, users have to pass through a simple registration process. We completed it in a matter of seconds, and were given access to a user area. The ease with which we did this is sort of worrying, for Tixee, is after all, regulated. But it is an offshore brokerage, nonetheless, and with such a tag come a number of predicaments.
From the trading platform we read a EUR/USD cost of trade of 2.2 pips, which in all honesty is not that good. There are brokers out there with far better spread values. The leverage is the typical offshore value of 1:500. The tradeable asset categories are shares, forex currency pairs, and indices. We are missing commodities and cryptocurrencies.
The website of the broker is available in English.
TIXEE REGULATION AND SAFETY OF FUNDS
Pipbull LTD, the firm behind Tixee, is regulated by Financial Services Authority in Seychelles (FSA). This is one of the top offshore regulators, which requires from all brokers a minimum capital requirement of $50 000. Also the broker in question must have at least 2 shareholders and 2 directors present in the country at all times! They act as reps of the broker and assure that there is no funny businesses going on.
Even though regulated by this agency, Tixee is still an offshore brokerage which is to say that things might not function as smoothly as they would if the company was regulated by a EU or US FX regulator, for example. Even nowadays, offshore regulators might let some things slip, on purpose or not. So, our readers should be aware of such things. If, next time, a user of Tixee sees a suspicious practice, he or she should not be surprised.
TIXEE TRADING SOFTWARE
The trading platform here is unlike anything we have seen before this review. It’s not really a platform, but a number of tabs each expanding on the trading experience. For example, there is a tab specifically for choosing the asset category, there’s one for open positions and pending orders, etc.
However, each asset does have its own little window with a small chart. It’s actually very convenient, but it might be a radical change to some, if they are used to MetaQuotes softwares, or similar trading terminals.
TIXEE DEPOSIT/WITHDRAW METHODS AND FEES
According to the user area, the minimum deposit is $0 The payment methods are VirtualPay, wire transfer, and OnlainNaira. However, the zero deposit requirement opens up only the Entry account type. The Standard account type opens after a $2500 deposit, which seems to us seems way too much.
The payment information on the website is tells us that all withdrawals are processed within 48 hours. There are no withdrawal fees indicated anywhere. There may be, however, fees issued by the payment providers.
Tixee is a very generic and mundane broker, but it is regulated. However, the cost of trade that we witnessed is not really worth it. Aside from this, everything else seems to be on point. Users wont loose money to a scam here, but might be left out on better brokerages out there.