TigersFM Review – Trustable Broker or Another Scam?

As of May 2023, the broker (Tigersfm.com) has ceased operations. But you can read the article to avoid falling for similar scammers.

Is TigersFM scam Forex and Crypto Provider?

Broker TigersFM remains anonymous despite extensive legal documentation and a lengthy disclaimer. While we do not know the name of the official owner, the T&C claim the UK law governs and all issues will be settled in London.

This would mean that TigersFM regulation is under the UK regulator, FCA. The Financial Conduct Authority databases do not contain any information about the brokerage. The license does not belong to other Tier 1 authorities like ASIC, CONSOB and IIROC.

We checked the compliance of the ESMA rules as the firm was boarding residents from the EEA area. This broker does not limit leverage to 1:30 nor impose other risk-reducing measures such as negative balance protection. Instead, it allows FX majors 1:500 and has no safety tools.

If the broker is not licensed, you can’t count on financial ombudsman support. It is crucial to report a scammer.

TigersFM is an anonymous, unregulated trading company. Although TigersFM claims to have been serving worldwide investors since 2013, no regulatory records reveal that this financial fraudster. There are many negative reviews about withdrawals.

TigersFM Scam Victims Are Living Where?

Since August 2022, the TigersFM trading fraud has been in operation. Most victims are from:

• Canada
• Germany
• Poland
• Croatia
• Australia

Your report could help as none of the countries concerned have yet issued a warning. Tell us your story so we can pressure the authorities to act.

How does this scam broker contact victims?

Many online scammers are out there luring victims into fraudulent activities. Although their methods may differ, the core of the scam is the same: a fraudulent marketing campaign using social media and Google Ads.

Scammers use numerous pressure tactics, endless calls, promotions, and other means to convince you to make a deposit. It takes just one click to send your personal data to the broker system. You won’t be able to sleep at night if it does happen.

Account managers will add you to private chats via Telegram or WhatsApp if you decide to buy the tale and invest the initial amount. You will be able to receive trading tips and fake success stories as well as discounts.

If you click on an ad, don’t miss the opportunity to be scammed. You could still fall prey to fraudsters. We have never heard of scammers approaching victims via fake profiles on Instagram and Facebook. They create their own credibility by convincing you that they have helped thousands of people achieve their goals.

Don’t let your guard down and don’t give in to temptation. You could lose all of your money.

What trading platforms are available? – Trading Software

The TigersFM trading platform is one of the most primitive WebTraders that we have seen. This browser-based software offers an asset overview, many charts and indicators, as well as news.

Brokers do not offer advanced third-party platforms like MT4, MT5 and cTrader that offer EAs and social trading. They expect you to stick with the basics.

TigersFM Mobile Trading App – Can I Download It?

Mobile apps are not available. Only web-based software is available. TigersFM login can only be done through a mobile browser. This is quite inconvenient. MetaTrader also offers a mobile app that allows you to trade on the move.

What can you trade with a broker? – Trading instruments

This trading brokerage focuses on crypto trading but offers five types of assets:

• Currency pairs – EUR/USD and GBP/AUD, respectively, CAD/ILS
• Indices – Dow Jones, AU200 and BE20
• Shares – BMW, Adidas, Inditex
• Commodities – gold, silver and crude oil
• Cryptocurrencies – USDC, SHIB, DOGE

Another reason that the company can’t operate in the UK is the FCA’s 2021 ban on CFD crypto trading. TigersFM Forex broker, however, offers it and expects that we will believe it to be legitimate.

Spreads and Fees for TigersFM

Spread on the platform is large. It starts at 2 pip for the EUR/USD benchmark. This spread is much higher than industry standards and can be detrimental for investors. Other commissions are unknown. However, TigersFM reviews have shown that clients can’t get a penny back so the entire deposit is considered a fee.

Comparing Trading Accounts – What is the Difference?

Five trading accounts from TigersFM are available to us, each with different benefits. These include:

• Classic – $250
• Silver – $5,0001
• Gold – $25,001
• VIP – $100,001
• Prime – $250,001

Spread, leverage, available bonuses and priority withdrawals can vary between accounts.

Protection of Negative Balance

As we mentioned in the beginning of this review, negative balance protection would be required if the broker was legitimate. This is a safety precaution to prevent clients from getting into debt.

The fraudster is actually trying to get clients with accounts in the minus so they can request more money. This is why only licensed, legal firms should recommend investments.

Is TigersFM Demo Account Available?

The platform overview is available, but the TigersFM Demo account cannot be accessed. You won’t be able to trade any other way than if you first deposit the money.

Here is where legitimate brokers step in. Many offer free Demos to allow users to try the system. Scammers are quick to make their money.

What is a chargeback?

Chargebacks are a way for your bank to reclaim funds from the merchant. We recommend that you contact us immediately to initiate the process. In a free consultation, we will discuss how to get your money back immediately!

TigersFM: Video

Below you will find a short video about TigersFM. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about TigersFM!