TowerBridge gives barely any information and even what we are given are fake details and misleading facts. Read this TowerBridge review and you will understand to what level this firm doesn’t follow any rules or regulatory standards and how far it goes to scam clients.
|Broker status:||Offshore Broker|
|Regulated by:||Unlicensed brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||Tower Bridge LTD|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Cryptocurrencies:||Available – BTC, ETH, XRP|
|Types of Assets:||FX, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
What About TowerBridge Regulation?
TowerBridge claims to be a brand of Tower Bridge LTD, a company under the governing law of Saint Vincent and the Grenadines. Let’s start with the fact that SVG has no financial regulator for Forex trading firms, so it’s appealing to many scammers. Instead of following FSA directions and obtaining a license in the country of service, most of these companies operate illegally and defraud clients.
Why Must a Broker Have a License?
If you want to be safe and ensure that you will get your money back even if the broker goes bankrupt or disappears, regulation is your only way. That’s why choosing legitimate firms, especially those with Tier1 license, is the best thing you can do.
Back to TowerBridge broker. It’s not just that the firm has no Tier1 license, but the alleged owner has never been registered as a company in SVG. Now you understand why we judged so harshly at the start of this review.
Traders Reviews About TowerBridge Scam
The majority of TowerBridge reviews come from:
- Saudi Arabia
The broker actually has a terrific score on Trustpilot, with 4.5 stars. But don’t be deceived. Many brokers write their own reviews to increase their rating and lure potential victims into the scheme. If a broker has 0% of bad and poor reviews and all of them are good, it’s more suspicious than seeing something bad here and there. Even companies with several Tier1 licenses have some negative comments; when you lose money, you will express yourself no matter what.
You can find genuine reviews on different forums stating that TowerBridge is nothing but a fraudulent firm stealing money and vanishing.
Supported Trading Platforms – Available Trading Software
TowerBridge provides clients with the most basic WebTrader we’ve seen with many scam firms. It’s the least advanced platform with the lowest number of trading tools – its only purpose is for the broker to say they offer something. You can see the list of assets, open and close trades, and that’s it.
There’s no mobile app, so all Android and iOS users will need to visit the broker’s website and, from there, be redirected to the platform. Long and inconvenient process.
If you want to start trading, we advise you to find a broker that offers reputable software such as MT4 or MT5.
Everything About TowerBridge Accounts
If you’re still looking for more information about the broker, which we highly suspect, here’s the overview of TowerBridge account types.
- Self-Managed – $250
- Select – $10,000
- Personal – $50,000
- Honors – $100,000
- Wealth-Managed – contact account manager
Accounts differ in minimum deposit, spread, and leverage. Allegedly, Wealth-Managed accounts provide tailor-made trading solutions for each client. Knowing that this firm has no license and offers unregulated trading conditions, we firmly believe it’s not worth your time or money.
TowerBridge Range of Trading Instruments & Markets
TowerBridge offers trading on 5 major markets, including:
- Currency pairs – EUR/USD, GBP/USD
- Commodities – gold, oil
- Cryptocurrencies – BTC, ETH
- Shares – Facebook, Apple
- Indices – NASDAQ, FTSE100
TowerBridge Unregulated Leverage
Regulators have set a limit to leverage up to 1:30 or 1:50 for the Forex market. Offshore brokers tend to offer a bit more and look more lucrative, but bear in mind that higher leverage exposes your funds to higher risk. TowerBridge went a step further with the starting leverage of 1:100 and the highest one being 1:400. Your funds are at ten times bigger risk than with regulated companies, and we believe this is not something you’re looking to have.
TowerBridge Deposit, Withdrawal Methods, and Bonuses
TowerBridge accepts the following payment methods:
- Debit/credit cards
- Wire transfer
- E-wallets (APM, EFT)
The same methods are available for deposits and withdrawals but note that you have to use the same method. The minimum deposit amount is $250, while the minimum withdrawal amount is $100.
The company offers bonuses, but with a malicious Bonus Policy requiring you to trade a given amount 50,000 times before being able to submit a withdrawal request. Suppose you have accepted a $100 bonus; you must trade $5 million before getting your money back. It’s just another way to make you deposit more and put you in the loop with no way out.
Are You Already Involved With TowerBridge ? – Share Your Story With Us
If you have already been involved with TowerBridge, you know that getting a withdrawal is nearly impossible. That’s why you need to get in touch with our chargeback specialists, share your story and get assistance.
But What Is A Chargeback?
This is a way for your bank to reverse the fraudulent transaction and recover your funds. Contact us right away to book your FREE consultation. Take the first step towards a refund!
What Is TowerBridge?
TowerBridge is an online Forex and CFD trading provider without regulation.
Is TowerBridge a Scam Broker?
TowerBridge is an unregulated scam broker hiding its business offshore.
Is TowerBridge Available in the United States or the UK?
The firm company provides trading services in both the US and the UK.
Does TowerBridge Offer a Demo Account?
No, the broker doesn’t offer a Demo account, only Live ones.