TNFL FX Review – Is TNFL FX a Scam Broker?
- Website: https://www.tnflfx.com/; https://tnflmarket.com/
- Website Availability: No
- Address: United Kingdom
- Warning: Financial Conduct Authority (United Kingdom)
- Domain Blacklisted Status: It seems there is no direct mention of this domain being on a blacklist.
TNFLFX, apparently situated in the United Kingdom, states to give access to a wide array of tradable assets and high leverage up to 1:400. While that might sound enticing for some traders, delving deeper into the background of the broker does show a few alarming red flags.
Regulatory Concerns
Regulation is one of the prime considerations when choosing a broker. TNFL FX says it is NFA-registered with license No. 0558686. But this identification does nothing to confirm any real regulatory oversight. Even worse, TNFLFX has claimed regulation by FinCEN, which is not a regulator for forex brokers. FinCEN deals in money laundering regulation and does not issue licenses for firms to provide financial services.
On top of everything, the UK Financial Conduct Authority (FCA) has made a public warning against TNFL FX for offering financial services without the proper authorization. As a result, the firm is operating illegally within the UK and users risk losing their funds.
Red Flags and Issues
Lack of Proper Regulation
Though the authority claims multiple regulations, there isn’t anyone credible that regulates TNFLFX. Thus, there is no protection of investors, and the funds deposited are not safe.
Limited Educational Resources
Training is the most crucial thing for new traders. So it is unfortunate to state that very little learning or guidance is available through TNFL FX that can be helpful to a beginner to have the confidence to trade.
Poor Transparency
If spreads and commissions are not published, also leading to hidden charges, this is only apparently the case.
Inadequate Payment Options
Users have complained of withdrawal issues and delays due to limited deposit and withdrawal choices.
Ineffective Customer Support
TNFL FX is only accessible via email and this, as you might guess, is not an instant communicator, which, as you must also guess, often leads to slow responses or, at the very least, to no responses.
A New Fraudulent Domain
The TNFL FX has jumped to the side of launching a new domain (which reads as www.tnflglobal.com). It is a common tactic among fraud platforms to continue carrying out their dubious activities after official alerts.
Final Words – TNFL FX Review Summary
The review TNFL FX explains that not only the brokerage is unregulated, but it continues to operate with warnings from the FCA. By falsely claiming regulatory oversight, lacking transparency, and presenting user-unfriendly platforms, TNFL FX puts investors at serious risk.
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