About TGFXprime
Who Is TGFXprime?
TGFXprime is a retail forex and CFD broker registered in the United Kingdom. According to official records, the company was incorporated on 19 September 2022. However, the broker's own website claims an establishment date of 2010, indicating a discrepancy in its operating history. The firm is based at Crown Street, Carlisle, UK.
The broker offers trading in forex, metals, energies, cryptocurrencies, stocks, and indices through the MetaTrader 5 platform. It provides five account types with varying minimum deposits and all offering a maximum leverage of 1:500. Notably, TGFXprime does not hold any regulatory licences from recognised financial authorities.
Regulation and Safety
Our research found no evidence of TGFXprime being regulated by any financial regulator. The firm is registered as a company in the UK, but company registration does not equate to financial regulation. The absence of oversight from bodies such as the FCA or equivalent raises significant concerns for client fund safety and dispute resolution.
FXCanary's Scam Risk Score for TGFXprime is 75 out of 100, classified as 'Severe'. This score reflects the lack of regulation, contradictory founding dates, and limited independent information available about the broker.
Account Types and Trading Conditions
TGFXprime offers five account types. The Standard Account-All-In and Standard Account-Raw + Commission require a minimum deposit of $200 and offer leverage up to 1:500. The Premiere Account-All-In and Premiere Account-Raw + Commission require $5,000 minimum deposit, also with 1:500 leverage. The Pro Account-Raw + Commission has a high minimum deposit of $50,000.
All accounts support the same maximum leverage, suggesting the primary differences are in spreads, commissions, and perhaps additional features. The broker does not disclose typical spreads or commission structures on its limited public information.
Platform and Instruments
The broker promotes MetaTrader 5 (MT5) as its trading platform, a widely-used platform known for advanced charting, automated trading, and multi-asset support. TGFXprime claims to offer forex, metals, energies, cryptocurrencies, stocks, and indices, covering a broad range of asset classes.
However, the specific contract details, execution types, and product availability are not clearly outlined. Potential traders should verify these details directly with the broker, given the lack of regulatory oversight.
Target Audience
TGFXprime appears to target both retail and professional traders, given the range of minimum deposits from $200 to $50,000. The high leverage of 1:500 may appeal to short-term speculators, but it also amplifies risk. The absence of regulatory protection makes the broker unsuitable for risk-averse traders or those seeking recourse in case of disputes.
The contradictory information regarding the company's founding year (2010 vs. 2022) further undermines confidence in the broker's transparency.
Overview compiled by FXCanary from regulatory records and public data. full TGFXprime review