In this TDMarkets review, you will find all the pros and cons of the broker, as well as details of the login process. In addition, you will learn about the minimum deposit and withdrawal amount.

1.2
Reliability & Safety
2
Trading platforms & Tools
1.3
Trading offers
0.8
Spreads & Commissions
2
Mobile app
0.5
Deposit & Withdrawal
0.1
Research & Education
Reviewer 1.1 / 5
Users (0 votes) {{ reviewsOverall }} / 5
Official sitehttps://www.tdmarkets.com
Year of foundation2016
Regulated byFSCA ( Financial Sector Conduct Authority)
Trading instruments158+ assets
CFDs on Forex, shares, indices, metals, cryptocurrencies
Spreads and commissionsAbove average during the day
High swaps and commissions
EUR/USD from 1 pip
GBP/USD from 2 pips
Most popularTDMarkets in South Africa, Algeria, Nigeria, Zimbabwe
Provision of services in the US, UK, Canada, European Economic Area The European Economic Area and UK
The US and Canada.
Min. trade size0.01
LeverageUp to 1:500
Account typesGold, Pro
Minimum deposit$ 50
Minimum withdrawal
Deposit & withdrawal methods2 methods: credit cards and bank transfer
Payment Fees
Trading hours24/5
24/7 (For crypto)
Trading platformsMT4
Mobile App
Demo
Copy Trading
AT/Robots
Bonus
Affiliate program

Is TDMarkets safe and legal?

TDMarkets was founded in 2016 and is regulated by the FSCA. This is not a top regulation, but it allows the provision of services in Africa and even beyond its borders on a legal basis.

TDMarkets review 2021 is it legal and safe broker

Although the broker mainly targets African countries such as South Africa, Algeria, Nigeria, Zimbabwe, Zambia and others.

Even on the main page of the official website of TDMarkets there is an inscription “Africa’s Favorite Broker”. But in fact this is not true.

TDMarkets review in africa

Overall, the broker is little known in Africa and practically nothing is known about him all over the world. The reviews from TDMarket’s traders are mostly negative. And most of them are about bad terms and fraud.

Of course, TDMarkets is a local broker with a small number of clients and the FSCA regulation does not indicate its reliability. Undoubtedly, the broker is not trustworthy and safe.

Trading platform and offers

Firstly, you need to register and login the TDMarkets platform. The process of registering with a broker is quite long and complicated compared to others. The client will have to spend about 5-7 minutes answering various questions. And only after that the client will login his personal account.

TDMarkets clients can trade only on the MT4 platform. This is a classic forex market platform and it’s easy for beginners to learn. In general, almost all brokers provide MT4 terminal.

But the best ones always offer alternatives or their proprietary platforms. In this case, everything was limited only to the MT4 platform. And this is not enough for experienced traders, as there are no advanced tools for market analysis. TDMarket also doesn’t have copy-trading service and pamm accounts. But due to the low reliability of the broker, it’s probably even better.

In total, the broker offers a little more than 150 CFD assets, of which 64 are forex and the same amount for shares.

Account types, spreads and commissions

In addition to the free and unlimited demo account, there are 2 types of real accounts on TDMarkets: TDMGold and TDMPro. Gold status is received by traders after a minimum deposit of $ 50, and Pro after a deposit of $ 1000 or more. Basically, the main difference between types of accounts is the different spreads and commissions on trades.

Review of TDMarkets finds that there are large spreads on the TDM Gold account. And on the TDM Pro account, they are about average, but here a commission of $ 8 per lot is added.

Moreover, due to huge swaps, it’s impossible to hold a position for more than a day, otherwise you will lose a huge part of your funds. Therefore, you will have to close positions and open new ones each time, paying a commission.

All in all, the trading conditions are poor. There is no reason to trade with TDMarkets because many brokers offer excellent conditions and low spreads (For example, Plus500, eToro, Libertex).

Mobile app

Since the broker only provides the MT4 platform, clients can download the corresponding mobile app for Android and iOS. The TDMarkets MT4 mobile app allows trading on the go and chart analysis using about 30 indicators and tools. Of course, only the mobile version of MetaTrader 4 is also not enough for convenient trading.

Deposit and withdrawal

And if everything was bad up to this point in TDMarkets review, now it will get even worse. The broker’s clients can only fund and withdraw funds in 2 ways: credit / debit card and bank transfer. The minimum deposit at TDMarkets is $ 50 and the minimum withdrawal depends on the payment method.

In general, the broker does not charge any fees for payment transactions. Commission can only be charged by the payment system. But there is a nuance.
TDMarkets has a 3% deposit and withdrawal commission if there is no trading activity. Also, the broker may charge a $ 50 commission if there is no trading activity during the year. This is stated in the terms and conditions.

Pros and cons

Pros

Free and unlimited demo account
Small minimum deposit

Cons

Low trust broker. TDMarkets is licensed by one regulator and has a bad reputation among traders
Complex registration and login processes
High spreads and huge swaps. It can greatly widen during the day
There are hidden commissions on deposit (up to 3%), trading and inactivity
Relatively few assets
Only 2 deposit methods and 1 withdrawal method
MT4 platform only
No education and market research

Conclusion on the TDMarkets review

There is no reason to trade on TDMarkets. The broker is not safe and has poor trading conditions. Especially, it has high spreads and many hidden commissions. TDMarkets doesn’t offer bonus or loyalty programs to its customers. In general, it is strange why anyone uses these brokerage services in South Africa. It has absolutely no special features.

Therefore, it is better to consider choosing a more reliable broker with good trading conditions (For example, FxPro, eToro or others).

What people say... Leave your rating
Order by:

Be the first to leave a review.

User Avatar User Avatar
Verified
{{{ review.rating_title }}}
{{{review.rating_comment | nl2br}}}

This review has no replies yet.

Avatar
Show more
Show more
{{ pageNumber+1 }}
Leave your rating

Your browser does not support images upload. Please choose a modern one