TMS Network is a forex and CFD broker that claims to offer a variety of trading products and services. However, there are a number of red flags that suggest that TMS Network is a scam broker.
Company Overview
TMS Network is a relatively new broker, having been founded in 2021. The company is headquartered in St. Vincent and the Grenadines, which is a well-known offshore financial center. TMS Network does not have any regulation from any reputable financial authority.
Does TMS Network Have Any License?
No, TMS Network does not have any license from any reputable financial authority. This is a major red flag, as it means that the broker is not subject to any oversight or regulation. This leaves traders with no recourse if they lose money or experience other problems.
Is TMS Network Regulated By Any Authority?
No, TMS Network is not regulated by any authority. This is another major red flag, as it means that the broker is not subject to any oversight or regulation. This leaves traders with no recourse if they lose money or experience other problems.
Pros and Cons
Pros:
- The minimum deposit is low.
- The trading platform is user-friendly.
- The spreads are competitive.
Cons:
- The broker is not regulated.
- There are a number of negative reviews about the broker online.
- The broker is not transparent about its fees and charges.
How Does TMS Network Reach To Their Prey?
TMS Network targets its victims through a variety of channels, including:- Social media
- Online ads
- Cold calling
Technical Details
Minimum Deposit:
The minimum deposit for a TMS Network account is $250.Trading Platform:
TMS Network uses the MetaTrader 4 platform. This is a popular and well-respected platform that is used by traders around the world.Spread:
The spreads on TMS Network are competitive. The average spread for EUR/USD is 1.0 pips.Leverages:
TMS Network offers leverage up to 1:500. This means that you can control a position worth $500,000 with a deposit of just $1,000.Packages and Products They Offer
TMS Network offers a variety of trading products, including:- Forex
- CFDs on stocks, indices, commodities, and cryptocurrencies
- Social trading
- Copy trading
Withdrawal and Deposit Method
TMS Network accepts deposits via credit card, debit card, wire transfer, and Skrill. Withdrawals can be made via wire transfer and Skrill.What Do Their Previous Traders Say?
There are a number of negative reviews about TMS Network online. Some traders have complained that the broker is a scam and that they have been unable to withdraw their funds.Summing Up- Why Should Not You Trust TMS network
There are a number of reasons why you should not trust TMS Network. The broker is not regulated, there are a number of negative reviews online, and the broker is not transparent about its fees and charges. If you are considering trading with TMS Network, I urge you to reconsider. There are many reputable brokers that you can trade with instead.If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money to a scam broker like TMS Network, you are not alone. There are a number of organizations that can help you get your money back. The Financial Conduct Authority (FCA) in the UK has a compensation scheme for victims of investment scams. The US Securities and Exchange Commission (SEC) also has a similar scheme. You can also contact your local police or financial ombudsman for help.Finally, you can contact us for help. We will provide you with a free consultation and service recommendations to help you in recovering the lost funds.File A Complaint Against Scam Broker's
Final Thoughts
TMS Network is a scam broker that should be avoided. If you are considering trading with this broker, we advise you to reconsider. There are many reputable brokers that you can trade with instead.
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