Nothing about TigersFM is legitimate. Right off the bat, we noticed that the broker is anonymous, and consequently, unlicensed. All that the fraudster mentioned was some fictional Sabrin Alliance Inc.
This unscrupulous broker’s manner could bring many traders’ careers to the survival stage. So, if you don’t want to suffer that fate, then the TigersFM Review is a must-read.
|Broker Type||Forex and CFD|
Regulation and Security of TigersFM
It’s not a surprise that TigersFM is claiming to be a regulated and licensed broker. The funny thing is that they are far from that. They are claiming to be operating in the UK jurisdiction. In order for that to be true, they need to be regulated by the Financial Conduct Authority (FCA).
We, of course, did the needed diligence and checked the FCA register. Unsurprisingly, there’s nothing. Unsurprisingly, there’s nothing. It seems that the financial swindler is unlicensed. TigersFM is an unauthorized and scamming broker that allegedly offers Forex, crypto, and CFDs trading and favorable conditions. The financial swindler’s main targets are traders from Canada, Australia, Germany, Croatia, and Poland.
TigersFM Trading Platform
TigersFM offers a simple browser-based platform known as WebTrader. This software features built-in news, an asset overview, and several elementary charts and indicators.
In addition, a platform like this one can easily be manipulated by the fraudulent broker to display trading volume that isn’t taking place. Instead, your funds are transferred directly into the scammer’s pocket. Thus, promoting an unlicensed web platform is selling snake oil. With this said, it’s best to stay away from this investment scam and any other scam brokers alike.
Account Types at TigersFM
As we already mentioned, the minimum deposit this broker seeks is $250, but depending on the minimum amount you are willing to put in, there are 5 different account types:
- Classic- $250- $5,000
- Silver – $5,000 – $25,000
- Gold – $25,001- $100,000
- VIP – $100,001 – $250,000
- Prime – above $250,000
Considering they are unregulated, we don’t advise you to work with this broker. Regulated brokers will let you start with little as $10.
Deposit and Withdrawal Procedure
When it comes to the deposit methods, they are keeping it on the basics, with the following deposit methods:
- Visa or Master credit or debit card
- Wire transfers
Nothing wrong with keeping it old-school but that offer is pretty scarce. E-wallets and crypto payments weren’t included. Nevertheless, at least there are ways of getting a refund for credit cards and wires.
But even with this said, we don’t recommend you work with this fraudulent broker that is not regulated. There are many other good and regulated broker out there that will actually help you make real money.
How Does Offshore Brokers’ Fraudulent Work?
Many scam brokers who operate in this manner are not as uncommon as one might think. Many people leave various personal information online and after this or unscrupulous brokers of the same kind get a hold of it, they start harassing people.
They all promise many easy earnings or numerous bonuses if you just go ahead and give them a chance to make you rich overnight. Well-trained agents will call you almost daily to get you to invest at least the minimum amount.
Don’t feel ashamed if you ever got scammed by these persuasive agents, after all, they are professional smooth-talkers who scam people for a living. Always think twice before taking any risks while investing money and never forget to read reviews online to see if there are any withdrawal issues or other complaints people are reporting.
Best Forex Trading Brokers
Avoiding many investment scams that can be found online is not an easy job. With that in mind, we have created this table below. You can find all the important information such as the minimum deposit, and regulations about these user-recommended brokers.
Choosing one of these brokers who haven’t violated any terms and conditions will ensure your money is safe.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||Hfm.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
In this TigersFM review, we talked about this offshore scam broker that allegedly gives clients an opportunity to invest in forex and CFD. But in reality, all they are doing is pocketing traders hard earned money and creating false profit on their website.
Not only are they unregulated and unlicensed broker that falsely claim to be. In conclusion, we advise you to stay away from them since you would be putting yourself and your funds at risk. Remember to always be careful with where you invest your money and don’t forget to read reviews made online.
FAQs About TigersFM Broker
Is TigersFM Regulated?
No, TigersFM is a broker that follows no regulations and therefore offers no security for traders’ money.
Does TigersFM Offer a Demo Account?
Tigers FM offers 5 different account types and no demo account for any potential clients to try out their services.
What is the Minimum Deposit for TigersFM?
The minimum deposit requirement that this broker has set is $250 which is quite high.