Review & Opinion on TitanFX(Titan FX Ltd)

May 5, 2016

Here we will review the service of TitanFX.

Please note that the review written in this page is not for advertising objective nor officially authorized by any entities, but it is intended to help traders get to know about this broker better.

Who is TitanFX?

TitanFX official website photo

TitanFX is a FSP regulated online broker in New Zealand.

It is a broker(white label) founded by an Australian broker and the TitanFX’s office is also located in Australia.

TitanFX is providing services with its main broker, in order to provide financial service towards Japanese market where main broker is prohibited to do that.

Although TitanFX is managed by the same members of the main company, these two are totally different brokers, so please do not consider that both of the brokers provide the same service to traders.

 

Trading Environment?

TitanFX promotes the brand as an ECN(Electronics Communication Network) broker which offers DMA(Direct Market Access) to its traders. This business model is also called as a STP(Straight Through Processing) broker.

TitanFX offers 70 Forex currency pairs, Gold, Silver, Oils and Index CFDs through MT4. The number of available instruments are small comparing to other brokers.

The leverage is up to 1:500 and NBP(Negative Balance Protection) is offered for its traders, so its traders will not lose more than they deposit with TitanFX.

The minimum average spread is 0.8 pips which is around the average. To benefit from this spread, you need to open the “Blade Account” where “Raw Spread” is provided with extra trading commissions.

There is not many restrictions on trading methods though, Arbitrage trading is prohibited.

TitanFX would be categorized as the most basic broker with basic conditions.

 

Bonus & Promotions?

TitanFX does not offer any bonus promotions.

 

Customer Service?

The chat services of TitanFX are sometimes not so helpful though, they are always willing to help its traders.

The office registered in New Zealand is a virtual office, so in case you are looking to visit their office, it may not be worth it.

All your contacts will be sent to Australia where the main broker is located and mainly only Japanese support desk is actively promoting the brand.

There is not much activities towards English-speaking area and you may be confused by the small number of information.

By reviewing its activity for these years, we can see that TitanFX is working in good faith.

*Please note that TitanFX does not accept clients from Australia.

 

Complains from traders?

The main area where they have acquired their clients is Japan, so there are not so many users or reviews in English side.

TitanFX has been active since  2014, and there is almost no complains from Japanese traders at all.

Only thing which traders have been discussing about would be that “withdrawals” are taking days often.

Although, no one has informed about withdrawal rejections or profit cancellation so far.

TitanFX is simply a fine broker with all average conditions.

 

Anything to be careful?

There are two things you may want  to be aware of before start trading with TitanFX.

First, the commission for the “Blade Account” is $7 per 1 standard round turn lot, the broker may have specified that it is $3.5 but that is not a total commission.

Second, TitanFX is a white label which does not cover any trades by itself(does not act as a market maker), so comparing to many other brokers, TitanFX may face financial difficulties in more situations.

 

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Hercules