Tudofx review – 5 things you should know about tudofx.com

Tudofx review – 5 things you should know about tudofx.com

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Beware! Tudofx is an offshore broker! Your investment may be at risk.



Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


Tudofx presents itself as an established broker serving millions of clients in dozens of countries around the world. But this website is actually a prime example of why we shouldn’t blindly believe claims on the internet. This is a completely anonymous website that ranks among the vast number of fake brokers aiming to cheat inexperienced people out of their money.


When you visit a real broker’s website, you can find detailed information about the company that runs it, where it is based, what licenses it has and what regulatory regimes it is subject to.

Tudofx’s website and legal documentation does not even name the legal entity that owns this alleged broker. This means you don’t know exactly who you are dealing with, which is not advisable when your money is on the line.

The website doesn’t even list an office address. In the text of the Terms and Conditions it is stated that “this agreement and the relationship between the parties shall be governed by, and interpreted in accordance with the laws of Saint Vincent”. This should presumably mean Saint Vincent and the Grenadines (SVG).

This offshore zone is notorious for not regulating the activities of brokerage firms. The Financial Services Authority (FSA) of St. Vincent and the Grenadines expressly warns on its website that it does not “regulate, monitor, supervise or license” International Business Companies which engage in forex trading or other types of brokerage.

But the lack of a company name and the partial spelling of the jurisdiction’s name suggests that Tudofx does not even have an offshore registration. Nothing about Tudofx can be found in the FSA database.

Since you don’t know who is behind Tudofx, it would be a very bad idea to trust them with your money. When investing in the financial markets, you should use the services of verifiably legitimate brokers, preferably licensed and supervised by established regulatory institutions such as Commodity Futures Trading Commission (CFTC) in US, Australian Securities and Exchanges Commission (ASIC), UK’s Financial Conduct Authority (FCA) or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).

Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.  In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK. However, the likelihood of such a bankruptcy is low because regulators also have significant net capital requirements that companies must maintain – EUR 730 000 in UK and Cyprus, AUD 1000 000 in Australia and at least 20 million USD in the United States.


The Tudofx website states that an “incredibly advanced” trading platform is being used, but does not specify exactly which one. After registering an account and logging into Tudofx’s client portal, it becomes clear that the web version of MetaTrader 4 (MT4), one of the most popular platforms among brokers worldwide, is being used. Here is what it looks like:

The presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading. Many scammers have trading software to fool their victims that their money is being invested.

You could always turn to a legitimate broker who offersMT4 and/or the newer version of the software MT5. Most licensed brokers also offer desktop and mobile versions of these platforms that provide access to a host of advanced features. These include extensive automated trading capabilities, including the use of Expert Advisor bots and scripts for back-testing of trading strategies.


The Tudofx website describes five types of trading accounts – Basic, Silver, Gold, Platinum and VIP. The minimum deposit for a Basic account is listed as 250 USD, but after registering such an account the minimum amount required by the Tudofx system is 220 USD. In addition to USD, the account can be in BRL. You should know that many regulated brokers offer micro accounts for beginner traders with a minimum deposit of 100 USD or even less.

In the description of the Basic account a minimum spread of 2.4 pips is specified. This in itself is an unprofitable level – in the industry levels above 2 pips are considered too high. Most brokers only profit from the spread, or have a fixed commission per lot traded, which also rarely exceeds the equivalent of 2 pips. With Tudofx, in addition to the already high spread, there are extremely high fees of up to 5%. So even if Tudofx offers real trading, which is questionable, this trading is extremely unprofitable and it is virtually impossible for the trader to make a profit.

Tudofx  specifies a leverage of 1:50 to 1:100 for forex and 1:2 to 1:20 for cryptocurrencies. High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. The European Securities and Markets Authority (ESMA) and accordingly all EU regulators limit leverage to 1:30 for major currency pairs, 1:20 for non-major pairs and 1:2 for cryptocurrencies. The same rules are followed by FCA and ASIC. In the USA the maximum leverage is slightly higher, 1:50.


There are two options in the Tudofx deposit menu – cryptocurrencies and payment methods specific to Brazil – Ted, Pix and Boleto.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill, and Neteller. If you are interested in licensed brokers that accept cryptocurrencies as a means of payment, take a look at this list.

According to the Terms and Conditions, every withdrawal from an account is charged a hefty 5% fee. It also states that all funds in the account, other than directly deposited, including any profits, are not considered to be the client’s money and Tudofx is entitled to “reclaim any and all such funds”.

An account that is inactive for more than 90 days is charged a monthly fee of 10% or 100 USD, whichever is higher. While similar inactivity fees are found at legitimate brokers, the amount at Tudofx  is again excessive. Tudofx ‘s terms are designed to guarantee that you will not be able to get back the money you have invested.


Trading in financial instruments is a risky business even for experienced investors using the services of reliable brokers. For newcomers, there is also the risk of being deceived by the many scam websites posing as brokerages. These websites are operated by skilled and cunning scammers who lure you with promises of easy profits. Usually these scammers promise to take care of all the bits and pieces of investment for you, but many even use real trading platforms to fool you that your money is really being invested. After investing an initial low amount, they will convince you that you are already making incredible profits and urge you to invest more.

But your money is not invested and you will never see the promised returns. When you ask to withdraw even a portion of your money, you will be surprised by impossible to meet minimum trading volume requirements and hidden fees that amount to tens of percentages of your funds. Scammers hide behind fake names and offshore companies that are uncontrolled and unregulated, so it will be impossible to hold them accountable.


If you find yourself in a similar situation, you can request a chargeback. However, this option is only possible if you have used a credit or debit card for the transactions. Visa and MasterCard allow this to be done within 540 days. But if you have provided the scammers with proof of identity, such as an ID or proof of address, these claims can be disputed. Bank wire transfer or cryptocurrency transactions are non-refundable.

In any case, you should inform the relevant authorities in your country about the activities of the scammers and warn other potential victims online. You should not trust offers to return your money for an upfront fee. This is also a known scam and all testimonials from satisfied customers are fake.

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
US4.99/5$50 Click for a special offerWebsite
UK, Cyprus, Belize4.94/5$5 Click for a special offerWebsite
Australia, Cyprus4.93/5$100 Click for a special offerWebsite
Cyprus, SVG4.8/5$100 Click for a special offerWebsite
New Zealand4.65/5$1 Click for a special offerWebsite


  1. I agree with whatever mentioned in this article. I have been cheated by this company tudofx for 350 dollars.
    be aware by these cheats.

  2. I have deposited £180 ($250 Dollars) into Tudofx.
    I’m now going to close my account, and withdraw my money immediately.


  3. Do Not, Do Not , Do NOT use this company!!!!!
    Complete SCAM!!!!!
    I was taken in by them and lost a significant amount. I should have checked them out more before doing anything.

    They wiped out the account and have deleted the trading history, basically trying to destroy any evidence. I have screenshots of things but I don’t think I will get a penny back. A very, very expensive life lesson

  4. I would like to withdraw my deposited amount us$ 5250. Gordon brown and jeffery harris, both of them, did’nt keep their own words. The agreement was every day us$ 200 will get you back but unfortunately after two months I didn’t get even single dollar from their side until even this moment. I don’t know why?. So I don’t want to continue. T`hanks

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