About Tsl
Overview
Tyndale Securities Limited (TSL) is a Nigerian securities company established on November 29, 2013. The firm is based in Lagos, operating from Suite 281, Block A2-8, Sura Shopping Complex, Simpson Street. TSL positions itself as a full-service stockbroker and investment advisor, primarily serving the Nigerian capital markets.
The company offers a range of services including stock brokerage on the Nigerian Stock Exchange (NSE), trading in Federal Government of Nigeria Savings Bond (FGNSB-DMO), and NASD-quoted securities. Additionally, it provides investment advisory services and an online trading platform called Tyndale.
Regulation and Safety
Our records indicate that Tyndale Securities Limited does not hold any external regulatory licences from recognized financial authorities. The firm is registered as a business entity in Nigeria, but it is not listed as a regulated broker with oversight bodies such as the Nigerian Securities and Exchange Commission (SEC) or other international regulators.
We have assigned Tyndale Securities Limited an FXCanary Scam Risk Score of 46 out of 100, which falls under the 'Guarded' category. This score reflects the lack of regulatory oversight and limited publicly available information, suggesting that traders should exercise caution when considering this broker.
Account Types and Platforms
Based on the information from the company's website, Tyndale Securities Limited offers two main account types: individual and corporate accounts. The individual account opening form requests standard personal details, while the corporate form requires company registration documents, bank account information, and details of authorized signatories.
The broker provides an online trading platform called 'Online Tyndale,' which appears to be a web-based system for executing trades. There is no information available about mobile apps or third-party platforms like MetaTrader. The scope of instruments appears limited to Nigerian securities and bonds.
Deposits and Withdrawals
The account opening forms do not specify deposit or withdrawal methods. However, as a local Nigerian stockbroker, it is likely that funding is done via bank transfers to the company's bank accounts. The corporate account form includes a section for bank account details, indicating that transactions are processed through Nigerian banks.
We found no mention of international payment methods or support for foreign currencies. This suggests the broker is designed primarily for Nigerian residents and institutions dealing in local currency (NGN).
Customer Support and Education
Contact information on the website includes a Lagos phone number (+234 818 213 0000) and an email address (info@tyndale-securities.com). There is no live chat or 24/7 support mentioned. The website provides downloadable PDF forms but does not appear to offer educational resources or market analysis.
As a small local broker, customer support is likely limited to business hours in Nigeria. Traders seeking extensive educational materials or multilingual support may find this broker lacking.
Suitability
Tyndale Securities Limited is best suited for Nigerian investors looking to trade local stocks and government bonds through a traditional brokerage service. Its focus on the NSE, FGNSB-DMO, and NASD securities makes it a niche player in the Nigerian capital markets.
However, it is not suitable for forex or CFD traders, as it does not offer leveraged trading or international instruments. Also, the lack of regulatory oversight and limited online presence means it may not meet the expectations of experienced or international traders.
Overview compiled by FXCanary from regulatory records and public data. full Tsl review