TNXtrade.com in brief
The website with the name tnxtrade.com is operated by Smart Technology Services LTD, which is licensed by the local financial regulator of the Republic of Marshall Islands (RMI). The company has provided financial services since 2006 and during the years regularly launched new services and expanded its global network. It proudly calls itself the world’s number one broker, for receiving over 70 international awards. Prizes include “Best Forex Trading Platform” in 2019 and “Best FX Provider” in 2020, according to the company’s website, which also informs that TNXTrade currently serves 173 countries globally. The company offers deep liquidity and no-dealing desk (NDD) order execution. The offered assets exceed 250 types including forex, indices, commodities, shares, and cryptocurrencies. Clients can place their orders through the popular MetaTrader 4 (MT4) platform. There is no minimum deposit required and you can open your account in USD, GBP, EUR, and CHF. TNXtrade.com serves more than 1 million client accounts, it says.
Smart Technology Services LTD, which owns the website, is incorporated in the Marshall Islands with the register number 98668. It is regulated in accordance with the Marshall Islands Business Corporation Act. The company sticks to the highest standards of safety by keeping the client money in key international banks, fully segregated from the company’s own money. The company has been incorporated with a capital of 1 million euros, it claims.
Еach type of customer is treated equally by offering one type of real account. There are assets with floating and fixed spreads. Major currency pairs are quoted with fixed spreads and, for example, the EUR/USD pair can be traded with a spread of 1.5 pips regardless of trading conditions. Most orders are executed in less than 11 milliseconds. As we mentioned there is no minimum deposit required but the company recommends starting with at least USD500. You can choose the leverage up to 1:400.
What the Company Says about the Execution of Customer Orders
Another claim that TNXTrade makes is that it provides no-dealing desk execution (NDD). This means that all orders are executed completely automatic without human intervention. The deep liquidity that the company offers always provides the best available buy and sell prices. The executed volumes are big enough so that most of the client orders are internally matched, which minimizes the risk of exposure. All other positions are hedged if needed.
The company explains that it acts as a market maker with non-dealing desk execution, which ensures that 82% of all orders are executed without slippage and 9% are even executed with positive slippage.
Please note that your account balance may become negative due to liquidation of the position. The unpaid negative balance is then due to the TNXTrade customer, so you are not covered by the negative balance protection policy.
You will be charged only the usual fees, such as swaps and rollovers. There is no inactivity fee, and all trades are commission free.
Deposits and Withdrawals
Customers can use a wide range of payment options including Bank Transfer, Credit/Debit cards and E-Wallets. There is the company’s own wallet called TNXTrade Wallet and you can easily transfer funds between your TNXTrade Wallet and trading accounts at any time. You can deposit in EUR, USD, GBP, CHF, JPY, PLN, and AUD. TNXTrade does not charge for bank wire transactions. However, the intermediary banks may charge you according to their own fee structure. Bank transfers can take up to 5 business days while card deposits are done within 10 minutes. The minimum deposit amount by card is USD100 and the maximum amount is USD10,000.
Withdrawals can only be made in the same way and in the same currency with which it was deposited. The minimum withdrawal amount is USD100, and the maximum is USD50,000 per day.
Deposits and withdrawals are processed within one business day.
Customers can trade via one of the most used terminals worldwide – MetaTrader 4 (MT4). It is a market leading forex trading platform with an easy-to-use interface. MT4 is effective, user-friendly, and flexible. You can create your own custom layouts and templates. MT4 has all the charting and analysis capability that any trader needs combined with fast order execution directly from the chart. MT4 also offers a comprehensive suite of tools for technical analysis. The MT4 platform is available as a desktop version for Windows machines, as well as a mobile app for Android and iOS devices. In addition, you can use it directly from your browser, without having to install anything.
Currency pairs – More than 70 major, minor, and exotic currency pairs are available for trading. The major pairs have fixed spread and the one for the EUR/USD pair is 1.5 pips and the one for the GBP/USD pair is 1.7 pips.
Indices – CFDs on 20 of the major indices are available for trading, including DAX30, DJIA and ASX200. The average spread for the DAX30 is 2.4 points and the one for the DJIA is 2.1 points.
Commodities are divided into metals and energies:
Metals – CFDs on 7 precious metals and are available for trading, including Gold, Silver and Platinum. The average spread for the Gold is USD0.26 and the one for the Silver is USD0.026.
Energies – Crude Oil, Brent Oil and Natural Gas are available as CFDs for trading. The average spread for Crude Oil is USD0.044.
Stocks – CFDs on more than 150 shares of global companies are available for trading. The average spread of the Apple stock is USD0.61.
Cryptocurrencies – You can trade CFDs on 5 cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple. The average spread for Bitcoin is USD150.
TNXTrade operates on the newest Equinix data centers LD5 in London and Amsterdam. This allows it to aggregate prices from leading liquidity providers with deep liquidity, the company informs. Using these servers results in an average execution time of less than 11 milliseconds.
In addition, you can monitor the economic calendar that is updated in real time, which can help you enter and exit the market. You can use the most important economic events to create a trading strategy, knowing that market volatility will be higher at this time.
TNXTrade has a RMI regulation that allows it to provide financial services worldwide. It uses state-of-the-art non dealing desk (NDD) technology to execute client orders. The company provides a wide range of trading instruments through the popular MT4 platform. There is one type of real account for all customers with particularly good conditions, tight spreads, and no commission. No minimum deposit is required.