TG Capital is a typical example of online trading fraud. The owner is based offshore, legal documents are obscured, and the offer is unregulated.
If you are involved with this notorious scammer, keep reading our TG Capital review to find out more. We’ll help you with all the information about the firm.
On top of that, we seriously recommend you not to invest in the fake brokers MorganFinance, XTB Global, and Snagquan. Do not trade with these unlicensed brokers if you want to save your money!
| Broker status: | Offshore Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | tgcapital.io |
| Blacklisted as a Scam by: | N/A |
| Owned by: | Mgrad Ltd |
| Headquarters Country: | Marshall Islands |
| Foundation year: | 2022 |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | 250 EUR |
| Cryptocurrencies: | Available – BTC, ETH, LTC |
| Types of Assets: | Forex, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | N/A |
| Free Demo Account: | No |
| Accepts US clients: | Yes |
How Safe and Secure is TG Capital a Broker?
TG Capital belongs to Mgrad Ltd, registered in the Marshall Islands. While loose, GLOFSA is the official financial regulator of the country, supervising Forex and CFD firms. However, we haven’t found Mgrad Ltd or TG Capital upon checking the databases.
Simply put, TG Capital doesn’t have any regulations offshore or with Tier1 license providers such as FCA, ASIC, or BaFin. All their services are provided without approval, and clients are not protected by any regulatory mechanisms.
Reasons Not to Trust an Unlicensed Broker
Firm regulators, such as the ones mentioned above, have strict requirements for Forex brokers. They require at least 730,000 EUR operational capital, participation in the compensation scheme, and implementation of risk management tools such as negative balance protection and leverage limit.
On the other hand, scammers like TG Capital don’t fulfill any legal demands. They simply open their website, take funds, and eventually disappear.
Is TG Capital a Legitimate Broker Or A Fraud?
TG Capital is not a legitimate broker. The firm is based in the Marshall Islands and provides financial services without a license. The trust index is low.
What Do Traders Think Of TG Capital?
Since the broker is offshore, it has no fund safety mechanisms. The company doesn’t offer negative balance protection, so clients owe more funds than they invested.
Furthermore, the company offers bonuses and charges withdrawal fees of over 20% of the profit. If you were looking for reasons not to invest, this should be more than enough.
Trading Platform Offered by TG Capital
TG Capital offers quite a solid WebTrader. It has various features, including many charts and indicators, pending orders, and trading history.
While not all bad, this web-based software cannot come near MetaTrader. Both MT4 and MT5 are way more advanced, supporting social trading, EAs, and other tools.
Access the Account From a Mobile or Desktop Device
WebTrader can be accessed through a mobile or desktop web browser. There are no dedicated apps that would enable platform installation.
If you’re a fan of apps, MetaTrader wins once again. It has Android, iOS, macOS, and PC apps compatible with most devices.
TG Capital Accounts Overview
Customers have six account types to choose from.
A Basic account brings a dedicated account manager, Gold one special trading signals, while higher accounts have advanced tools such as risk management planning and private analysis.
Customer Support – Communication Channels
Broker customer support uses various communication methods to persuade customers to deposit. Those who apply on the company’s ad can expect multiple phone calls and emails, each containing a better offer.
Once you deposit the funds, account managers may add you to private Telegram and WhatsApp groups, asking you to deposit more and showing you false gains from their alleged investors.
Finally, they might approach you through social media or dating apps if you have never applied.
Does the Broker Use SSL? – Security Socket Layer
TG Capital uses SSL or Security Socket Layer. This is an indicator of the website’s safety, showing that your details are not exposed to a third party.
Note that this kind of protection doesn’t mean much with fraudulent firms. Instead of allowing you to deposit on your own, broker employees will ask for your credit card information or direct you to deposit your funds via a crypto wallet.
TG Capital – Countries Of Service
TG Capital operates in the following countries:
- US
- Australia
- UK
- UAE
- Canada
TG Capital Range of Trading Markets
Clients have access to a standard range of trading instruments, including:
- Currency pairs – EUR/USD, GBP/AUD, GBP/SEK
- Commodities – gold, natural gas, corn
- Indices – DJIA, FTSE100, DAX30
- Shares – Amazon, Netflix, Google
- Cryptocurrencies – BTC, MATIC, SOL
What Is Known About TG Capital’s Trading Conditions?
TG Capital doesn’t share much about its trading conditions. The website has no information about spread or leverage, leaving us to check their platform.
According to it, the EUR/USD spread starts at 1.2 pips, which is quite solid. However, the leverage seems to be fixed to 1:100. We’re unsure whether this is the maximum or you can change it upon request, but we do know it’s unregulated. The regulatory cap is up to 1:50, depending on the jurisdiction.
TG Capital Minimum Deposit, Withdrawal Terms, and Fees
TG Capital requires a minimum deposit of 250 EUR. Since legit firms have Micro accounts starting at as low as $10, it’s clear that TG Capital is quite pricey.
The Withdrawal Policy is quite vague, stating that customers must meet withdrawal terms that are left unspecified. Yet, if these terms are not met, the brokerage maintains the right to decline the withdrawal request.
Methods of Making a Deposit
The deposit can be made using the following:
- Debit/credit card
- Wire transfer
- Crypto wallet
The same methods can be used for withdrawal, with the limit for cards being $100 and bank transfers being $250.
Also remember the names of the CoinmasFX, 44Trades and Capartners LTD trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Scammed by TG Capital Broker? – Let Us Hear Your Story
If you fall victim to TG Capital, let us know. This company has scammed many. Instead of letting them keep your hard-earned money, work with us on recovery.
But What Is A Chargeback?
A chargeback is a way to recover your funds directly from the merchant. Your bank may recover them if you can prove that you’re scammed.
Book a free consultation with our specialists, and let us evaluate your case. We’re here for you.