OVERALL SCORE
0.5
☆☆☆☆☆ 0.5/5
The Tifia broker that we are going to talk about in today’s review was established back in 2014. Its offer includes the possibility to trade over twenty currency pairs, CFDs, and even some precious metals. This online broker might look like any other at a first glance, meaning that it is not the best nor the worst that you can choose.
However, in this Tifia review, we will reveal to you why choosing this Tifia broker is a very bad idea if you want to keep your money and identity safe. There are a lot of sketchy things that should make any possible future client run in the opposite direction. Here is why we DO NOT RECOMMEND the Tifia broker and what made us reach this conclusion.
Pros and Cons
PROs
- Friendly Design
CONs
- BIG problem with withdrawal process
The Tifia broker and problems with regulations
For a while, the official Tifia website claimed that this broker was owned and operated by Tifia Investments Limited, a company from Dubai, the United Arab Emirates. Moreover, this broker used to be licensed in New Zeeland but that ended back in November 2016. Now, if you take a close look at their current website, it says that Tifia is owned and operated by Tifia Markets Limited Group of Companies. Moreover, that it is regulated by the FSC of the Republic of Mauritius.
Clearly, there is something shady going on here. Three regulation changes mean that there is something clearly wrong with this broker. Moreover, nobody even knows whether or not these regulations really exist. Mauritius is a heaven for scam brokers that steal money from people, which is why you should stay away from this broker.
Giving your money to unregulated or sketchy online brokers like this one is a huge mistake that could result in serious losses. You are in danger of losing all of your invested funds and recovering some of them is next to impossible.
Tifia broker’s account types
If you are still curious about what this Tifia broker offers, you should know that they have three types of trading accounts. The Start one is meant for beginner traders while the other two are ECN accounts. All of them offer micro-tradeable lots and variable spreads. By choosing any of them you will be trading on the popular MetaTrader 4 and MetaTrader 5 platforms. However, the fact that this broker uses such popular platforms should not trick you into thinking that they are legit.
The Tifia team also claims to offer support and managed account services through their Agent program which nobody knows anything about. This is yet another reason why you should keep away from Tifia’s services.
It’s also worth noting that the spreads on the ECN Classic account type which is commission-free are quite big compared to the average. However, the overall offer of this broker can seem quite attractive, especially for the untrained eye. Still, this shouldn’t make you choose Tifia just because what they have sounds good. Remember that their regulations issues can make you lose all of your money.
Tifia’s trading platforms and payment methods
As we have already said, the Tifia broker works on the famous MetaTrader 4 and, more recently it has introduced the MetaTrader 5. This can be a good thing. However, this is probably used as a means to attract clients and steal their money. Do not fall into their trap just because you have heard of these trading platforms!
When it comes to the Tifia payment methods, there are many alternatives because they want nothing more than to get to your money. You can make deposits (the minimum one being $100) through your credit/debit card, wire transfers, and digital wallets. This is not a bad thing but it turns into one when you find out that you are working with a sketchy and possibly unregulated broker.
Why we DON’T RECOMMEND Tifia
All in all, this Tifia broker could seem attractive at a first glance but the reality is different. It is a very simple and basic service that doesn’t offer too many trading alternatives. It has a limited product portfolio which will not attract seasoned traders who know how the business is working. However, even if this broker hopes to draw in inexperienced clients to steal their money, honest reviews like this one should stop that from happening.
Besides that, you should know that Tifia is not available for people in the United States, Canada, Israel, Belgium, Japan, Mauritius, and Vanuatu. This is quite a bizarre selection which strongly suggests that this broker is incredibly sketchy and dangerous when it comes to regulations. So, we DO NOT RECOMMEND this broker and encourage you to go for another alternative which you can select based on honest reviews and other people’s opinions. For now, Tifia is not an online broker that you can trust with your funds and personal details.
Cryptocurrencies
- BTC
- ETH
Fees
- Variable fees
Is Dexland expensive?
The Dexland website proposes a 4.7 percent charge, which includes VAT when it comes to exchanging prices. Clearly, their website’s home page displays the purchasing and sale prices for both BTC and ETH, which you can use at any time. Dexland’s exchange rate is basically a mash-up of the rates obtained from the miners and exchanges with which they do business. This is because the whole staff works diligently to provide consumers with the most appealing and reasonable buy and sell prices. It’s also worth noting that the exchange rate is calculated only after an order has been authorized and payment has been submitted by the customer.
Summary
In summary, we highly recommend Dexland to everyone looking to buy and sell cryptocurrencies in a safe, fast, and easy manner. It just takes a couple of minutes time to buy your cryptocurrency, which will be delivered to you in a matter of days. So, if you’re looking for a trustworthy, helpful, and competent crypto exchange site, Dexland might be it. Please check their official website for more details and decide whether or not this platform is suitable for you. So, indeed, it is definitely worth exploring and evaluating where you are in relation to your ambitions for purchasing and selling cryptocurrencies.
