Is TMS Network Legit or A Scam Broker?

While TMS Network (TMSN) claims to be a revolutionary decentralized trading platform, there are several reasons to be cautious and consider it a scam. Here are some red flags:

• Unrealistic promises: This broker promises low fees, fast transactions, and educational resources, but there is no evidence to support these claims.
• Sudden price increase: TMS launched at $0.003 and jumped up to $0.0047. This rapid price increase could be a sign of a pump-and-dump scheme, where the price is artificially inflated before the creators sell their holdings and crash the price.
• Lack of information: The article is light on details about this broker’s features, security measures, and team. This lack of transparency is a common red flag for scams.

According to Broker Complaint Alert, a website that helps victims of scams, this broker is listed as a scam broker.

If you are considering using this platform, it is important to do your own research and be aware of the risks involved.

What is TMS Network?

TMS Network (TMSN) claims to be a decentralized trading platform that utilizes blockchain technology to offer secure and efficient trading of stocks, CFDs, cryptocurrencies, and forex. The platform supposedly eliminates intermediaries, allowing for lower fees and quicker transactions.

Here are some key points about this broker, according to the provided article:

• Decentralized platform: This broker claims to be decentralized, which means it is not controlled by any single entity. This could potentially make it more resistant to fraud and manipulation.
• Multiple asset classes: This broker reportedly allows users to trade stocks, CFDs, cryptocurrencies, and forex. This could be appealing to traders who want to diversify their portfolios.
• Instant deposits and withdrawals: This platform offers instant deposits and withdrawals through cryptocurrency. This could be a benefit for traders who want to move their funds quickly.
• User-friendly interface: This broker supposedly has a user-friendly interface that makes it easy for traders to navigate and manage their investments.

However, it is important to remember that these claims are made by TMS Network itself, and there is no independent verification.

TMS Network Details

Red Flags and Warning Signs

As mentioned earlier, there are several red flags that suggest TMS Network may not be a legitimate platform. Here are some of the warning signs:

• Lack of transparency: There is very little information available about TMS Network’s team, its development process, or its security measures.
• Unrealistic promises: The article claims that TMS Network offers low fees, fast transactions, and a user-friendly interface, but there is no evidence to support these claims.
• Positive bias: The article is a press release, which is inherently promotional. It is important to be critical of information from such sources and to look for independent reviews.
• Sudden price increase: The rapid price increase of TMS Network’s token could be a sign of a pump-and-dump scheme.
• Listed as a scam broker: According to Broker Complaint Alert, TMS Network is listed as a scam broker.

If you have lost money to companies like WeBull-AC; or Steem VIP; please report it to us on our Report a Scam form.

Customer Complaints and Negative Reviews Online

It is difficult to find independent reviews of TMS Network since it is a new platform. However, the fact that it is listed as a scam broker on Broker Complaint Alert is a major cause for concern.

TMS Network Alternative Brokers

If you are looking for a reputable broker to trade stocks, CFDs, cryptocurrencies, or forex, there are many established and regulated options available. Here are a few well-known brokers:

• Interactive Brokers
• TD Ameritrade
• Charles Schwab
• Coinbase
• Binance

It is important to do your research before choosing a broker. Make sure the broker is regulated by a reputable financial authority and that it offers the features and assets that you are looking for.