RECOMMENDED FOREX BROKERS
Read the review of TMS Brokers to see what trading conditions this offers to any potential clinets, and if these conditions fit your criteria.
TMS Brokers, or Dom Maklerski TMS Brokers Spółka Akcyjna, is registered in Poland and as such is regulated by the country’s local markets regulator, the Polish Financial Supervisory Authority. This license issuer basically acts as any other regulator: it enforces the law when necessary, requires detailed info of brokers under its gaze, and makes sure that clients are protected from fraudulent activity.
We did not register for privacy reasons, thus any spread from a demo platform will, unfortunately, not be provided. Readers shouldn’t sorry about the registration process: it’s easy and safe proof, which further solidifies this broker’s legitimacy. The website offers a simple live spread chart that gave us a floating spread of 0,8 pips, which is very good for traders.
The leverage in EU has been capped at 1:30 by ESMA for some time now.
The website opens the following assets to be traded with: Forex Pairs, Commodities, Indices, Crypto, Stocks, Equities, and Indices. This is a very stable amount of instruments, and in reality cover all requirements.
The website is available in English, Spanish, Polish, Russian, Latvian, Lithuanian, and German is on its way to becoming an available language.
TMS BROKERS LOGIN
The broker come packed with one of the most loved platform out there, the MT5
METATRADER 5
MT5 is an improvement in every way to MT4. With its increased time frames, more pending order types, the inclusion of an economic calendar, and so much more, MT5 should slowly be taking over as the number 1 trading terminal. The platform comes with all its predecessor’s features: EAs, VPS, One Click Trading, Level2 Plugin, and many more handy functions to improve the level of trading in virtually every aspect.
The leverage reaches a limit of 1:30, while spread averages 0,8 pips according to the website.
There is a commission of $5 for Stocks. It does not specify whether the commission is round turn or per side. We assume this is the round turn, since if it was $5 per side then the cost of trade would jump with 1 pip, which is seems unfair and unbecoming.
Furthermore, there are fees on equities that, for your convenience, we have attached as a picture:
The same document opens other fees:
We recommend users opening the Fees and Commissions document and checking out the whole spectrum of commissions. There is nothing worrisome here, but some of you might find these irritating.
MT5 is available on Apple/Android devices, as a standalone desktop trader or as a browser terminal (no EAs).
TMS BROKERS MINIMUM DEPOSIT
There is no minimum deposit amount which is fantastic news, and opens the broker to small time traders who are just starting.
The downside is that the only base currency is the EUR.
There are only two main ways to fund an account, either by Credit/Debit card, Skrill, or Bank Transfer.
Card payments are instantaneous, and so are transaction with Skrill, while Wire Transfers can take up to 3 days to process. Pretty casual processing times here.
There are no fees associated with depositing.
TMS BROKERS WITHDRAWAL TIME AND FEES
Withdrawals can only be made via Bank Transfer.
The withdrawal process takes up to 3 days, according to the FAQ.
There are no withdrawal fees for withdrawals over $100. The fees that occur if that amount is lower, we could not find. However, we are pretty sure that they are nothing to be concerned with.
There is no indication of a minimum withdrawal amount. We assume from the top paragrpah, that there is no such minimum.
BOTTOM LINE
TMS Brokers is a very decent broker that offers quite good trading conditions for traders of all kind, but especially for more novice one as exemplified y the lack of a minimum deposit. We recommend this one for sure!
