Type: white label
XM data is used to mislead traders
- forex assessment in arabic
TNFX is one of the most stupid and comical scams that we have encountered so far. The company is White Label. It is not licensed by any party. Both the biller and the terms and conditions page in it claim different things for different companies. We will mention that in detail.
Counterfeit TNFX Licenses
This paragraph is from the invoice. TNFX is the brand name of a total of 3 companies. The first is TiranForex, which is authorized by the Financial Conduct Authority of Saint Vincent and the Grenadines.
For those who don't know, Saint Vincent and the Grenadines (SVG) does not regulate forex and CFD brokers. Furthermore, the Financial Conduct Authority is a UK-based regulator known as the FCA and has no connection with Saint Vincent and the Grenadines. However, we checked the official database of FCA and SVG for “TiranForex” and got no results, which was no surprise.
The following trade name is TIRAN-DWC-LLC regulated in Dubai as they claim.
This is completely meaningless. Brokers in Dubai must be regulated by the Dubai Financial Services Authority (DFSA), in order to operate within a legal framework. Needless to say, TIRAN-DWC-LLC was not found in the DFSA's public registry.
The following is the Tiran Broker registered “by the Iraqi Ministry of Trade”.
In Iraq, the responsibility for overseeing financial behavior rests with the Iraqi Securities Commission. And whose website, does not provide any information about Terran Brooker.
Last but not least, among the comedic missteps TNFX is supposed to be organized in Cyprus. The broker misspelled “Cyprus” and we checked with CySEC, just to make sure, and as expected we didn't find anything related to TNFX.
Transferring from XM without even deleting its name
As for the terms and conditions in TNFX, they are copied / pasted from XM, which is a very stupid move that confirms without a doubt that it is a ruthless fraudulent broker. XM has been informed of this, as the company’s agent or as he claims to be its owner is a person named “Ahmed Zaman” from Iraq is also XM Agent. The broker failed to even delete the XM name or amend the terms to suit what the broker mentioned about its alleged licenses and the FCA and the International Financial Services Commission (Belize) were mixed up with Saint Vincent and the Grenadines.
TNFX Review Site Warnings
حذرت بعض المواقع الاجنبية منها مثل موقع forexbrokerz.com والذي قال “عالم التداول مليء بالمخادعين ، يحاولون سلب المستثمرين الساذجين في كل منعطف ، ومعظمهم يقدمون معلومات مضللة ، أو لا شيء على الإطلاق. كما هو واضحا ، TNFX من النوع الأول.” الرابط من هنا
وذكر موقع valforex.com ان هذا الموقع قام بجمع ايداعات واختفي اكثر من مره لا نعرف مدي دقة هذه المعلومات ولكنها محتملة حيث ان موقع TNFX موجود منذ 2015 ولكنه تم افتتاحة مره اخري أخري مؤخرا كشركة فوركس في العراق. في جميع الاحوال تقييم valforex.com من هنا
forexbonuslab.com said in its review “Can you trust TNFX? no. This should be clear from the review. Make sure to stay away from them as much as possible, as they are clearly trying to scam newbies.” Their full review of the company from here
Is TNFX right?
From what has been mentioned so far, it is clear that TNFX is a very frank and clear fraud and theft process without even trying to hide its installation, perhaps because the company does not plan to be present on the scene much, it is likely to disappear after obtaining the largest amount of deposits. Therefore, you will find low spreads to attract the client, but the minimum deposit is 300$. We believe that any effort to withdraw will be in vain. Either the broker will strongly advise you not to withdraw, or they will ask for more deposit.