Introduction to TigerWit Review-
With the advent of the increasing popularity of the forex market, there has also been an increase in forex scams. Every year thousands of investors and traders fall into this scam and result in the losses of their funds. Various forex brokers are actively operating in the market, offering exciting services and products. The benefit of which is taken by the scammers. These forex scammers often pretend to be the legit brokers promising you higher returns. Have a look at the TigerWit review to know about the company details and whether to invest with this broker or not.
Review of TigerWit Scam-
TigerWit is said to be the online trading platform that offers global products for trading. It claims to be a user-friendly trading platform founded in 2015. As mentioned on the website of TigerWit, it is headquartered in London and is regulated in UK, Hong Kong. TigerWit claims itself to be regulated by the FCA, SFC, and FSA. The services offered by TigerWit are the currency pairs, precious metals, commodities, and indices in the forex market. It also claims to offer a transparent trading pattern that includes block chain technology. It provides an open and convenient trading experience.
TigerWit offers negative balance protection for accounts and MT4 trading platform along with web platform and proprietary applications for users. The account types offered by TigerWit are standard trading account, ECN account, Islamic account, and Copy trading account. The minimum deposit offered by TigerWit in these accounts is $50. The maximum leverage offered is 1:400 The transaction at TigerWit is all recorded to block chain ledger. The payment options available at TigerWit is credit/debit card, bank transfer, NETELLER, PaySEC.
Potential TigerWit Scam Activities-
Although TigerWit offers attractive trading instruments and various other facilities, a number of complaints have been registered against this broker claiming TigerWit scam. The information mentioned on their website is very general and does not clearly state the important mind. Various reports have mentioned that the broker, although registered with FCA, does not follow every guideline of this regulatory agency. Some other activities that lead this TigerWit as a potential scam are:
- It does not offer any educational material for the new investors that may create difficulty for them in trading and investing.
- No Trading academy is available for investors to assist them and improve their knowledge.
- Spreads are high as compared to other forex brokers in the market.
- Limited trading assets and funding options. The other legit forex brokers are dealing with much better options.
- Market analysis tools are very less that may create confusion among the investors and traders.
- The information mentioned on the website does not match with the services they are offering.
Is TigerWit Scam or Legit?
A signal red flag is enough to guess whether the forex broker is legit or not. By reading the above-mentioned points, it can be concluded that TigerWit is not a legit broker and we do not recommend trading with this broker. Investors should avoid dealing with them. Numerous challenges exist with this broker and as forex trading is a risky business, one should always be careful while investing their funds.