TP TRADES is a Forex CFD broker registered in the Comoros in 2023, primarily targeting the Thai market. The broker provides investors with Forex CFD trading services through the MT4 trading platform. It offers three types of accounts with a maximum leverage of 1:500.
Company Background
The broker's company entity is TP Trades Group Co., Ltd, established in the Comoros on December 1, 2023. TP TRADES is a broker offering Forex trading services, with its registered address at PB 1257 Bonovo Road, Fomboni Island of Mohéli Fomboni, Comoros. Its official domain was registered on May 18, 2019, about five years ago.
Regulatory Status:
The broker currently does not have valid regulation.
TP TRADES mentions on its website that it is registered in the Comoros and regulated by the Mwali International Services Authority (MISA), with the regulatory number T2023419. MISA's goal is to provide financial services to enterprises, including the registration and management of international companies, offering international financial services, and promoting international trade and investment. However, MISA is often used as an offshore financial center, providing various financial and business services, such as company registration, banking, and fund management.
The broker operates under offshore regulation, which means the Forex trading services it offers are not subject to stringent and effective regulation, potentially posing significant trading risks to investors.
Trading Software
TP TRADES provides investors with MetaTrader 4 trading software, which allows users to engage in Forex trading. MT4 supports multiple download options, including Windows, Android, iOS, and web versions. However, during actual download attempts, it was found that except for the web version, other options could not be accessed.
Trading Accounts
TP TRADES mainly offers three types of accounts: Standard Account, STP Pro Account, and ECN Account.
- Standard Account: This is one of the basic account types offered by the broker. Users can begin trading with a minimum deposit of $20. The account type offers a maximum leverage of 1:500, with trading spreads starting from 1.5 pips.
- STP Pro Account: This account is an advanced trading option designed for traders seeking lower spreads and faster execution. The minimum deposit is $20, with a maximum leverage of 1:500. Spreads for this account type start from 0.7 pips.
- ECN Account: This is a professional trading account suited for traders looking for optimal market execution and the lowest trading costs. The minimum deposit is $20, with a maximum leverage of 1:500. The account type offers spreads starting from 0.0 pips and charges a commission of $7 per lot.
Educational Resources
The TP TRADES website does not offer educational resources on trading, such as knowledge in technical analysis, risk management strategies, and market trends. TP Trades Group Co., Ltd does not provide services to residents of certain countries, including the United States, European countries, the Islamic Republic of Iran, and Israel.
Summary
TP TRADES is a newly established Forex broker whose Forex-related services are not subject to effective regulation. The broker supports Forex trading via the MT4 platform, but multiple download pages are inaccessible. Investors should opt for brokers with strict regulatory licenses to safeguard their asset security.
