Introduction to TMS Brokers

TMS Brokers is a renowned online brokerage firm that has been in operation since 1997. It is headquartered in Warsaw, Poland, and is regulated by the Polish Financial Supervision Authority (KNF). The firm offers a range of trading services including forex, commodities, indices, and cryptocurrencies. While TMS Brokers has a long-standing reputation in the industry, it is important to delve deeper into their services, trading platforms, fees, customer service, and other aspects to provide a comprehensive review.

Trading Services and Instruments

Forex

TMS Brokers offers a broad spectrum of currency pairs for forex trading, including major, minor, and exotic pairs. This provides a wide range of trading opportunities for traders of all experience levels.

Commodities and Indices

Apart from forex, traders can also invest in various commodities such as gold, silver, oil, and natural gas. Additionally, they can trade on leading global indices.

Cryptocurrencies

In response to the growing interest in digital assets, TMS Brokers has added a selection of popular cryptocurrencies to its trading portfolio. Traders can speculate on the price movements of Bitcoin, Ethereum, and other digital currencies.

Trading Platforms and Tools

TMS Brokers provides its clients with two main trading platforms: MetaTrader 4 (MT4) and TMS Trader. MT4 is a well-known platform in the trading community, offering advanced charting tools, numerous indicators, and automated trading capabilities. On the other hand, TMS Trader is a proprietary platform that is web-based and user-friendly, making it suitable for novice traders.

While these platforms offer a variety of useful features, they may not meet the needs of all traders. Some users have reported issues with the TMS Trader platform, such as occasional lags and a lack of advanced features compared to other platforms in the market.

Account Types and Fees

TMS Brokers offers three types of accounts: Basic, VIP, and Pro. The Basic account is suitable for beginners, while the VIP and Pro accounts cater to more experienced traders.

However, the firm’s fee structure has been a point of contention among some users. TMS Brokers charges a commission on trades in addition to spreads, which can make trading more expensive compared to other brokers that only charge spreads. Additionally, the firm charges a fee for inactive accounts, which some traders may find inconvenient.

Customer Service

TMS Brokers provides customer support through phone, email, and live chat. While the firm claims to offer 24/5 customer service, some users have reported slow response times and lack of support in languages other than Polish.

Regulation and Security

As a regulated broker, TMS Brokers is required to adhere to stringent regulatory standards to ensure the safety of client funds. The firm is a member of the Investor Compensation Scheme, which protects client funds up to a certain limit in the event of the broker’s insolvency.

However, despite these measures, some users have expressed concerns about the security of their funds due to the broker’s lack of two-factor authentication and other advanced security features.

Conclusion

In conclusion, while TMS Brokers offers a range of trading services and is regulated by a reputable authority, it has some areas that could be improved. The firm’s fee structure, customer service, and security measures have been criticized by some users. Therefore, potential clients should carefully consider these factors before deciding to trade with TMS Brokers.