Pros & cons of TIO Markets broker

TIO Markets Fact sheet

Choosing a safe and reliable broker is the first step to successful trading. There are various factors to consider when making a decision, but the safest brokers are well-regulated ones. 

TIO Markets follows strict client-oriented safety policies. Negative balance protection is provided for clients, but if they use this feature more than once, the company reserves the right to lift this protection measure from client accounts that are constantly trading with high leverage and high risks. Negative balance protection kicks in when the trader loses more than their trading account value due to leveraged trading. Furthermore, TIO Markets is part of an investor compensation fund and inventors will receive compensation in case of broker insolvency. All client funds are held within segregated bank accounts, meaning the broker can not touch and use client funds for its own purposes. 

*CFD stands for Contract for Difference and such instruments enable traders to speculate on underlying asset prices without owning them. 

TIO Markets offers a wide range of tradable instruments, including CFDs on stocks, Forex, indices, commodities, and metals. 

Forex trading on TIO Markets

Forex is a giant financial market with trillions of dollars traded on a daily basis. Forex pairs offer traders the ability to speculate on the prices of certain currencies and TIO Markets offers access to 46 FX pairs which is a decent number. With spreads being low on VIP account types it is possible to use scalping strategies. The broker also allows hedging and trading robots in the form of Expert Advisors (EAs). The spreads start from 0 pips for some accounts and are very attractive for a wide audience of intra-day traders. Since there are so many, the number of exotic and minor pairs is vast. The broker also offers learning resources on Forex trading which we will discuss below in the education and research section of this review. 

Stock CFD trading on TIO Markets

Stocks can be bought and then sold, and there is no option for short-selling normal stocks. But CFDs offer exactly this ability, making stock CFDs awesome speculative instruments. While they are risky it is still a great tool in experienced traders’ arsenal. All stock CFDs have very low spreads on TIO Markets’ platforms enabling traders to make money no matter what the market is doing. The broker offers stock CFDs for many popular companies around the world. Educational materials are provided below stock trading specs and make it easier for beginners to find some basic guidance. The lowest spread is 0.2 and the most frequently offered spread is 0.3 USD. 

Commodities and indices trading on TIO Markets 

There are various indices offered by the broker and the lowest spread is on the UK100 index with 1.4 or 0.15 pips which are very competitive. The spread for the S&P 500 starts from 0.8 USD or 8 pips and is within the industry average.The S&P 500 is the average price of the 500 largest US companies that are trading on the US stock exchanges and it offers a great performance measure for the whole US stock market. Indices are great instruments for not only measuring the sector or the market and its performance but with CFDs, it is possible to speculate on their prices. Commodities on the other hand are various materials and resources used in manufacturing and traders can measure the pulse of agriculture, energy, and precious metal markets by monitoring their prices. From the 9 commodities offered, the lowest spreads are applied to USOILs100 with 0.2 and UKOILs100 with 0.3 spreads. All commodities, as with other instruments, are also CFDs making it possible to buy or sell them right away for speculative purposes. As we can see, the broker offers both soft and hard commodities with attractive trading terms. 

Four account types are offered by TIO Markets which have increased flexibility and require more capital as the commissions decrease. The accounts are Standard, VIP Black, VIP, and Signature. The spreads are low and start from 0.1 pips for major pairs on commissioned accounts like VIP and Signature, while the commissions are applied to these accounts for such a low spread. The spreads for the Standard account, however, start from 1 pip. This spread is within the industry average territory and should be sufficient for any day traders. For scalpers accounts with lower spreads will be required to make small profits without spreads eating into their profits. The downside for the Standard account is the commissions of 5 USD round turn per 1 lot traded. This commission with 1 pip spread is unattractive and traders will have to open another account type with commissions but much lower spreads. The difference between different account types is only the amount of fees applied to trading volume and spreads. All other parameters are the same. The minimum deposit required is also different as advanced accounts like VIP, VIP Black, and Signature have lower fees. The commission for VIP Black is 0 USD, for the VIP it is 2 USD, the Standard account comes with 5 USD commission, and for the Signature account the fee is 4 USD, all commissions are round turn per 100k traded. 

Pros & cons of TIO Markets account types

Getting started on TIO Markets – Main steps

In this section, we’ll show you how to open a live trading account on TIO Markets. The registration process and account activation are digital, and the broker’s web page is very intuitive and user-friendly. In addition, customer support agents are available 24/7 and the website is available in 18 languages. In case you have any questions it is easy to connect with the broker representatives via live chat. 

Step 1: Open an account

Registering an account is pretty self-explanatory on the website. Users first have to agree that they have read the notice about the broker's services and restrictions in certain countries and then a registration form will appear that can be filled out within three steps. These three steps will require users to enter valid information of name, email, and phone number. 

Step 2: Time to verify your account

Two document types are required for account verification, namely proof of identity and proof of address which may be uploaded or sent to support via email. The verification process usually takes less than 24 hours and may be done within a few hours if all documents are without any issues. The detailed requirements for each document type are as follows:

• Proof of address: Full-page copy of a utility bill or bank statement, dated within the last 6 months - (a downloaded online copy is acceptable).
• Proof of Identity: Government-issued identification card or passport with your full name, photograph, date of birth, and date of issue/expiry clearly visible

Documents can be uploaded from the client portal after the first step of registration is completed. It is always recommended to finish the verification process first and only then start trading not to face any issues that may complicate the process of withdrawals. 

Step 3: Make your deposit and start trading

The payment methods are so diverse that almost anyone can transfer and operate a trading account on the TIO Markets website. Supported systems include bank transfers, credit/debit cards, e-wallets, Fasapay, Neteller, and Skrill. After the registration and verification process is completed the only thing remaining is to select a trading account type, and trading platform and start trading. 

Comparing TIO Markets fees with other brokers

TIO Markets fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

TIO Markets fees compared to CM Trading fees

TIO Markets fees compared to plus500 fees

TIO Markets fees compared to XM fees

TIO Markets fees compared to AvaTrade fees

TIO Markets fees compared to Capital.com fees

There are two main platforms offered for trading, namely MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms are very advanced and offer chart analysis tools and indicators. MT5 has several advantages as it offers more inbuilt features. MT5 comes with an inbuilt economic calendar and offers more timeframes, order types, indicators, and graphical objects. The symbols available in MT5 are 263 vs MT4’s 175. Other than these small differences both platforms offer similar capabilities. Trading robots can be used with both platforms and TIO Markets also allows hedging. All in all both platforms are advanced software and have all the tools necessary to fully analyze price charts and even track the fundamental news directly from the platform in the case of MT5. Countless trading robots called EAs, or Expert Advisors, can be downloaded from the online marketplace, some of them are free, while most paid ones can be tested before purchasing. These EAs enable traders to fully automate the trading process. 

Each asset class section on the website has its own educational resources linked below it, making it very comfortable and convenient to click on the link and learn the basics about them. All types and kinds of learning materials can be found on the TIO Markets website including educational video tutorials and webinars. By using these resources even most beginners can make sense of Forex and CFDs market basics. As for market research tools, there are daily market news and analysis resources provided together with an inbuilt economic calendar to track the fundamentals. 

Customer support is available 24/7 and the website is available in 18 different languages. There are several options to contact the broker’s representatives directly. Live chat is the most convenient way for resolving any issues or getting answers to any questions that may arise during the trading process. Other support forms include an online form to leave a message, email address, and phone number. Live chat is the most comfortable way for contacting the broker. 

TIO Markets is a broker that offers a diverse range of account types suitable for various trading styles. With its low spreads, high leverage, and access to advanced trading platforms, it is an attractive option for day and intra-day traders. The main downside of the broker is its weak regulations. TIO Markets provides access to a wide range of tradable instruments, including CFDs on stocks, Forex, metals, indices, and commodities. The broker follows respectable safety policies and provides its traders with negative balance protection, segregated accounts, and is part of a compensation fund. All in all, the broker seems a decent option for traders who prefer to use MT4 and MT5 with low spreads and affordable commissions.