Question 1

Is TP Global FX beginner-friendly?

FXScope Intelligence Lab · Accepted Answer

No, TP Global FX is not beginner-friendly. This broker has been classified as a scam operation with multiple regulatory warnings issued against it. The British Columbia Securities Commission (BCSC) and New Zealand Financial Markets Authority (FMA) have both issued public warnings stating that TP Global FX is not registered or licensed to provide financial services in their jurisdictions. The broker's website has been shut down, and its previous SVG FSA license has been revoked. For beginners, investing with an unregulated and scam broker poses extreme risks with no legal protections for funds.

Question 2

Is TP Global FX regulated and safe?

FXScope Intelligence Lab · Accepted Answer

No, TP Global FX is not regulated and is not safe. Multiple financial regulators have issued warnings against this broker. The BCSC warned on August 19, 2021, that TP Global FX is not registered to trade in or advise on securities or derivatives in British Columbia. The NZ FMA issued a warning on April 13, 2024, noting the company is not registered or licensed to provide financial services to New Zealand residents. The broker's website has been shut down, and its previously held SVG FSA license has been revoked, making it technically an unlicensed trading platform with no regulatory oversight or legal protections.

Question 3

What are the withdrawal issues with TP Global FX?

FXScope Intelligence Lab · Accepted Answer

TP Global FX has documented withdrawal issues and withholding funds from investors. The NZ FMA specifically warned about an investor who invested funds with TP Global FX and is now unable to withdraw their money. Customer complaints on BrokersView show users reporting that the broker refused to provide withdrawals, with losses reported of up to $25,000. The FMA has confirmed cases of investors being unable to access their funds after depositing with this unregulated broker. These withdrawal problems combined with the broker's unregulated status create a high-risk scenario for any investor funds.

Question 4

What are the regulatory warnings against TP Global FX?

FXScope Intelligence Lab · Accepted Answer

TP Global FX has received multiple regulatory warnings from authoritative financial bodies. On August 19, 2021, the British Columbia Securities Commission (BCSC) issued a warning stating the broker is not registered to trade in or advise on securities or derivatives in BC. On April 13, 2024, the New Zealand Financial Markets Authority (FMA) issued a warning noting the company is not registered or licensed to provide financial services to New Zealand residents and confirmed cases of investors being unable to withdraw funds. BrokersView has also reviewed TP Global FX as an unregulated broker, noting its website shutdown and revoked SVG FSA license.

Question 5

What happened to TP Global FX's business operations?

FXScope Intelligence Lab · Accepted Answer

TP Global FX's business operations have effectively collapsed. The broker's website has been shut down, and its previously held license with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) has been revoked, making it technically an unlicensed trading platform. Multiple financial regulators have issued warnings against the company, and customer complaints indicate the broker has been involved in fraudulent activities. Reports suggest that key figures at TP Global FX were reportedly booked by Mumbai police for involvement in a significant fraud case, further confirming the broker's illegitimate status.

TP Global FX

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