When you think of trading, of course, you are looking for a place where you can maximize the profit. You are looking for the best trading terms. But, besides trading terms, you need to find a regulated, legitimate broker. And we can say it upfront, TitanFX is not one of those.
Read our TitanFX review and find out what to do if the broker scammed you.
|Broker status:||Offshore Broker|
|Regulated by:||No regulation|
|Blacklisted as a Scam by:||FSA Japan|
|Owned by:||TI Securities Limited|
|Supported Platforms:||MT4, MT5, web trader|
|Types of Assets:||Commodities, indices, stocks, forex|
|Free Demo Account:||Yes|
|Accepts US clients:||No|
TitanFX Regulation and Security
TitanFX is a brand of TI Securities Limited. The company is registered in Vanuatu. However, after we’ve checked the VFSC register, we discovered that the brand is not regulated. Meaning it does not have permission to provide any kind of financial services.
The company was based in New Zealand; however, it lost the FMA regulation. Afterward, it moved its headquarters to an offshore country where it doesn’t even have a regulation.
Be aware of the TitanFX scam, such as Migo Trade.
Warnings From Financial Regulators
Since the company was established, it was mainly targeting Asian clients. Even today, the website says that the broker cooperates with trading providers in Singapore, India, and Japan. And that was primarily the reason for the Japanese FSA to issue a warning against TitanFX.
Since the broker has a website in Japanese, specially made for this country, FSA published that the company is not legit and warned citizens against trading with TitanFX.
Also, they invited everyone scammed to file a complaint immediately.
Funds Withdrawal Issues
As per many TitanFX reviews, clients experienced severe withdrawal issues. Some of them claim that they got their account blocked, the money disappeared or got lost in trades they never opened. After examining the TitanFX trading platform, we saw the broker offers MT4, MT5, and a web trader. If you had a web trader, the broker could easily access your trades and change them.
On the other side, the leverage provided by the company goes up to 1:500. Another great way to lose your money simply by opening one risky position. With such high leverage, no wonder it happened.
If you were among those, who experienced withdrawal issues, file a dispute immediately!
How does an online trading scam work?
Getting involved in an online trading scam was never easier. Many brokers out there have no regulation and exist for a short period. In this period, they take all the funds from their clients and disappear. There is a reason why many of them, such as TitanFX, open headquarters in an offshore country.
Make sure to always check the brokerage and never provide your card information over the phone. Especially take care of your CVV number.
Scammed by TitanFX?
If you were scammed by TitanFX, do not get desperate just yet. There is a way to get your funds back. You need to file a dispute and request a chargeback.
But what is a chargeback? It’s a way of refunding your card in case you were a victim of an online scam.
If you had issues with TitanFX or any other scam brokerage, do not hesitate to contact our support via chat and look for help!
What is TitanFx?
TitanFX is an online trading brokerage from Vanuatu.
Is TitanFx a scam?
TitanFX is an unregulated offshore trading broker.
Is TitanFx regulated?
No, TitanFX has no regulation for providing financial services.