Tokenexus Forex Broker
Tokenexus, under Tokenexus Markets Limited, is not governed by any forex regulations. Tokenexus Markets Limited is a member of The Financial Commission. The Financial Commission provides a dispute resolution mechanism and financial compensation fund for customers of member brokers. However, The Financial Commission is a corporation, NOT a regulatory body with the power to make or enforce regulations. Potential clients are urged to proceed with caution if dealing with the Tokenexus Markets Limited, and should instead consider the UK or Australian arms of Tokenexus.
This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your https://tokenexus.com/ account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.
Is Tokenexus safe?
Conclusion. Tokenexus makes access to the forex market easier while you can benefit by lower deposits or trading requirements, as well with a wide range of attractive offerings. The broker also keeps regulatory supervision for their operations, which ensures that the traders’ legal rights are well protected and secured.
Understand that the MetaTrader 4 trading platform was developed primarily to trade Forex but you can also trade other types of financial instruments through CFDs and Spread Betting. You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements with Tokenexus. MetaTrader 4 also known as MT4 is the number one trading platform on the buy dragonchain planet and has been in active use on financial markets since 2005. The MetaTrader 4 software delivers a feature-rich, user-friendly interface and an extremely customisable trading environment, designed to ful fill all of your trading needs and boost your trading performance. Charting functionality and advanced order management tools make certain you could monitor your positions quickly and economically. A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.
All of this can be found on many platforms, but the mass-use of the MT4 makes all other platforms look old. The platform has been dominating the industry for years now, and no other version speaks to masses like this bitfinex one. Of course, Tokenexus also recognized the potential of the MT4 platform and did not look further. This is the only platform available with Tokenexus, but it is available in both versions, downloadable and web-based.
In the event of a company insolvency, FSCS is able pay compensation up to a maximum of £50,000 per person per regulated entity. Unlike UK-based brokerages, Australian ones are not covered by any compensation scheme. The broker with unblemished reputation offers easy trading, pioneering platforms, recurring revenue in PAMM-account system etc. Tokenexus keeps to a no dealing desk business model using liquidity of major banks, hedge funds, and other financial organizations.
The spreads are fair on ECN and STP account types but the overnight rates for keeping positions overnight are not equally competitive. Tokenexus has been in the industry for quite some time but they seem to have neglected the growing number of issues that are causing alarms to a lot of their customers. We wouldn’t be surprised if the financial regulators will decide to revoke their license one of these days because of these disadvantages. Although regulated, I found a lot of disturbing comments about this broker from real traders who are complaining about their poor quality of services. Most have noticed been noticing about the frequency of slippages and delays in withdrawals. These complaints seem to be very prominent among the comments that I’ve seen in most forums and discussion boards.
I found out that if your account is not active after some days, they close it. With deposit, withdrawal, trading statement etc, notices are always on time. Depositing money was easy, I was up and kraken running in a few seconds. When I tried withdrawing money out for the first time, it was a bit difficult, why? Because I was suppose to trade at least 100 mini pip\lots if I remember correctly.
The mobile versions contain many of the same features as the desktop platforms including placing orders, managing orders, interactive charts, account overview, push notifications, etc. There is a knowledge base on the Tokenexus website that includes tutorials on how to use the MT5 platform. In 2009, Tokenexus were amongst the first brokers to offer clients direct access to interbank liquidity with ECN trading through MT4. Tokenexus welcome clients from all over the world but do not provide services to United States residents due to strict US regulatory restrictions. Some Tokenexus broker features and products mentioned within this Tokenexus review may not be available to traders from specific countries due to legal restrictions. Tokenexus aggregate liquidity from multiple participants which can give clients institutional liquidity and instantaneous order execution.
This lessens the worries for of traders because this means that they are registered with a broker that is compliant with the guide lines guideless that are set by these financial authorities. Slippage was observable when that I tested their platform and it’s even more evident when the markets are moving.
As this is an independent body, not tied to a government or central authority, we would refrain from registering with this broker. Instead, we recommend choosing a broker that offers a license for your specific jurisdiction, such as CySEC or ASIC. Discover a broker you can trust by reading our in-depth and honest reviews, created by industry experts. Some of the links on this websites articles and comparison tables are affiliate links, which means we receive tokenexus courses scam a commission should open an active account. This does not increase the cost to you for using a broker and is how the site is funded and covers the costs of running this website. The information contained in this website is for informational purposes only and does not constitute financial advice. The material does not contain investment advice or an investment recommendation, or, an offer of or solicitation for, a transaction in any financial instrument.
Tokenexus also offers its own PAMM technology allowing to benefit from the strategies of experienced traders with a proven track record. You should consider whether you can afford to take the high risk of losing your money. Unfortunately, our review of Tokenexus found that the broker is only regulated by The Financial Commission.
Any payments funded to Tokenexus accounts by traders are held in a segregated bank account. Tier 1 is the official measure of a banks financial health and strength.
Replenishment And Withdrawal Of Funds
Tokenexus clients should check with the Tokenexus representatives regarding the fees and cost of a transaction before making a deposit or withdrawal. Between 74-89% of retail investor accounts lose money when trading CFDs. With Negative balance protection means traders cannot lose more money than they have deposited. Tokenexus is considered good and reputable to trade with Tokenexus. Tokenexus is used by over active traders and Tokenexus users. Tokenexus are considered safe as they are regulated by and checked for conduct by the Financial Conduct Authority , Australian Securities and Investments Commission .
A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account. Some brokers may charge a fee when you deposit funds from your payment method to your trading account.
Crypto accounts have 13 choices which are ideal for BitCoin, LiteCoin, NameCoin and PeerCoin traders. The available tokenexus forex brokers reviews currencies are diverse enough which is why I am giving this broker a Tradable assets score of 4/5.
Tokenexus is governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as Tokenexus you should be sure they’re legitimate online agent.
? Tokenexus Typical Slippage (eurusd)
I started trading in the STP trading account and after trading in the STP account for 2 years i could say that the speeds of execution and the spreads were very low and stable. In Australia, although Tokenexus advertises that they operate a true ECN, customers need to be aware that Tokenexus acts as the counterparty to customer trades. This means that if Tokenexus goes bankrupt, they may not be able to meet their financial obligations to their customers and those customers could lose some or all of their account balances. This risk is described in Tokenexus’s Product Disclosure Statement. Tokenexus typically mitigates this risk by hedging some or all of customer’s open trades with alternate liquidity providers. Tokenexus also mitigates the counterparty risk by maintaining minimum capital reserves that are defined by ASIC.
If a customer has a complaint against Tokenexus, they can first address the complaint through Tokenexus’s internal dispute resolution process, where they are required to address complaints in a timely fashion. If the complaint is not resolved to the customer’s satisfaction, they can escalate the matter to the FOS to an independent review. The FOS will issue a judgement, which will be made binding for Tokenexus, if the customer chooses to enforce the ruling.
- Tokenexus is an established online trading broker founded by a group of traders in 2005.
- Should I call Tokenexus’s trial site a divorce and a fraudster?
All money funded to Tokenexus is placed into a segregated tier 1 bank account. this means your money in not held by Tokenexus directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also Tokenexus is regulated by Financial Conduct Authority , Australian Securities https://tokenexus.pro/ and Investments Commission . Although we found some very useful aspects of the Tokenexus platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative Tokenexus broker. We should say something about negative balance protection with Tokenexus.
Generally, there’s a huge difference between the price at which I placed the order and the price at which it was executed by the broker. This will certainly give traders a major headache which is why I am giving them a Quote Accuracy Score of 5/10. I discovered that the number of tradable assets will vary depending on the type of account. Micro and Standard accounts have 30 while ECN accounts have 52 assets in total.