As the name suggests, TigerWit is a forex broker that offers various trading services. At first glance, this company looks the legitimate business with proper trading conditions and regulations.
However, the more you look into this broker, the more you start to see that it is not what it claims. This company does not follow the orders that traders are executing, leading to investors losing a lot of money.
The company is based in China
TigerWit is a reputed forex broker based in China that offers trading services to clients from all over the world. Its main goal is to provide investors with a safe place to invest their money while ensuring that they get the most out of the trading experience.
Its primary trading product is Contract for Difference (CFD) trades. It also offers other types of trading, such as spot Forex and precious metals.
The broker uses the popular MetaTrader 4 platform, which is one of the most popular trading platforms in the world. It’s available on desktop, mobile, and web, making it easy for traders to access their accounts from anywhere.
It also has a Multi-Account Manager (MAM) feature, which allows traders to copy the trades of a master trader. Traders can choose from a list of masters ranked according to their chances of winning, income over the last 30 days, and the number of connected traders.
It is regulated by the Financial Conduct Authority
TIGERWIT is a UK-based global financial technology company committed to changing the way traders trade. The company aims to deliver a world-class trading experience by pioneering blockchain-based settlement and to provide access to key global markets for FX, indices, commodities, and metals.
The company is licensed and regulated by the Financial Conduct Authority (FCA), the Securities Commission of The Bahamas, and Hong Kong’s SFC. Funds are held in segregated accounts, and client funds are protected by the Financial Services Compensation Scheme to the value of PS85,000.
TigerWit offers traders access to over 60 spots FX pairs and CFDs on global stocks, market indices, and commodities. It also offers copy trading, MT4 as a platform, and 24/5 customer support via email, live chat, and telephone in multiple languages.
The broker allows up to four free withdrawals per month, after which a $1 fee will be charged. Traders can use Neteller, Paysec, and wire transfers to request withdrawal. The funds are transferred within three business days after the withdrawal application is approved.
It does not offer educational material
The best forex brokers in the business offer many educational materials to help their clients make better trading decisions. These can include FAQs, blogs, and guides.
According to the top regulatory bodies in the world, Forex brokers must provide their clients with the most effective trading tools and resources available. This information should include market news, the latest innovations in the industry and other relevant information to aid investors in their trading decisions.
In addition, a good broker should also have customer support options, such as live chat, email and phone. A customer support team can assist traders at all experience levels and assist with account set up and initial trading.
It is a scam
TigerWit is a broker that uses several tactics to steal investors’ money. They have a good-looking website, services that are hard to deny, and more.
In order to be safe in the Forex market, you should find a broker that is regulated by a regulatory authority. The company should also offer educational material for its clients.
A reliable broker should provide all the information and tools needed to make a profit. They should also have a demo account to give you an opportunity to practice your trading skills before investing real money.
Another important thing to consider is the minimum deposit. Typically, regulated brokers keep their minimum deposits around $50 or lower.
In addition, we should point out that this broker offers high leverage for its clients, which can wipe out your capital in one swing. It also does not offer negative balance protection, which is a big problem for new traders.
