TBFX (Tbfxtrades.com) is a brute CFDs, Crypto Currency and Forex broker to hit the trading scene. TB FX is certainly defrauding their members into believing they can make high profit margins. After receiving numerous email complaints from members having already lost a chunk of money, we had to investigate. What we found out was not only disturbing, but unsettling as well. By reading this detailed TBFX review, truth is revealed.
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Some of the members have lost over $15,000 with this broker. Doesn’t the broker offer negative balance protection? Where was the broker when these members were losing funds? It seems TBFX is nothing but a fake brokerage site where funds are lost. Signing up with this broker is throwing your money away. Is it true the broker goes under when users try to withdraw funds? What is actually happening with TBFX?
After landing on their website, we can see why newbie traders are falling for this broker. Professional scam artists will throw in over the moon claims and promises to trap investors. Get the full details of this rotten platform by glancing through this review.
To start us off, there’s not much information given regarding this broker. Who are they and what’s their financial background? A closer look at TBFX reveals we are dealing with a well thought out scam. What these scam artists are using is a cloned website. By cloning the details of an already existing and legit broker, they are trying to feign legitimacy. And this is where we start seeing cracks emerging with this broker. Ownership still remains a mystery.
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Who are the founding members of this brokerage site? What these scammers have done is used the name TBFX Limited to claim legitimacy. Why have they failed to disclose the people running this brokerage site? Does this mean users are depositing funds to an unknown third party? Why would a broker be offering services and not disclose their true identity? Only professional scam artists do this kind of thing.
After having no real names, we are sure they are using fake credentials. And this is true since we checked with the FCA’s register. A warning has been issued by the FCA concerning the cloning of TBFX Limited. What this means is the broker is using another company’s details to try and claim legitimacy. One way of proving this detail is asking TBFX to produce their licensing credentials. Can they really produce what they don’t have? And here’s where we raise another red flag.
By posting copies of their licensing and registration details, brokers show transparency and trust. With posted copies, members can easily verify using regulatory body’s register. Disclaimer at the footer of their homepage shows a broker who is using fake credentials. It always pays to check with regulatory bodies concerning legitimacy of a broker. Trying to reach this broker for comment has proved futile.
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Another nauseating detail we found with this broker is their demo account. TBFX is rigging their own demo account in order to trap victims. Remember a demo account uses virtual money which is not real. Having a broker who rigs their own demo account means they will stop at nothing to get your funds. Their rigged demo account makes over 98% successful trades.
Ask any professional trader, making over 98% successful trades is not possible. Even a skilled and seasonal Forex broker will never attain such high results. Genuine Forex trading robots will also fail to achieve these high margins. Why? Market is volatile at all times and prices change without warning. Change of pricing is as a result of unforeseen circumstances such as boardroom wars, competition, and politics. Make sure to check whether a demo account is producing over the moon results.
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An appalling feature we noticed with this broker is their two trading platforms. TBFX is offering users two different platforms to choose from. Members can choose to trade with xStation or MT4 trading platform. What we noticed weird with their platforms is lack of proper security measures. After downloading their two platforms, cracks started appearing in regards to security.
Hackers find unsecured trading platforms to be easy prey for data harvesting. In most cases, hackers will be looking for credit card information as well as identity data. Trading with them is a huge risk as your personal information can be used by hackers for illegal purposes. TBFX is also being accused by some members of selling their information to third party companies. Why deal with such a ruthless broker?
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What this broker has been doing is create an illusion they are offering brokerage services. In real sense, they are simply filling their pockets with funds deposited by members. How can funds be safe from a broker who is unlicensed? Funds will never be safe by an anonymous broker we know nothing about. Stay clear of this broker since they are only after your funds.
Segregation of accounts is another hideous feature with this broker. By merging all assets in one account, they are putting funds at risk. What’s more perturbing is members are funding the personal account of this broker. Ensure you stay away from this broker and choose brokers who are certified.
TBFX is a scam which must be exposed by all parties concerned. By creating a platform which is stealing from members, it makes them a horrible service provider. Stay away from this broker by ignoring all attempts to sign up.
By adding this broker to our scam blacklist, we will be protecting our dear readers. Mark all their emails as Spam and don’t give out any information regarding your details.
Choose Forex trading tools with a proven track record when trading Forex. Start claiming reliable and effective Forex trading robots today. Time to make stable profit margins is here with game changing Forex trading robots.
Wishing you all the best in your future trading experience with any market niche
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