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His career began in retail banking, where he honed his skills in assisting clients with various financial needs. Over the years, Daniel transitioned into supporting traders and investors, becoming well-versed in the intricacies of the trading industry.
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Today in our TIOmarkets review, we look at a broker that invites traders to use the services of a licensed company. Clients are promised top-tier security, attractive trading conditions, over 2,000 instruments, and access to one of the best trading platforms. All of this sounds incredibly appealing, but traders primarily want to know whether the information provided by the company is real, and whether they are about to walk into yet another scam. We tried to determine whether this platform can be trusted, and below we share the results.
The offer to trade with a company that holds an official EU license looks quite attractive to any trader. However, it is not uncommon for scam brokers to present themselves as regulated firms and steal money from unsuspecting clients. That is why we check the official data of all platforms that claim European licensing especially carefully.
According to the broker, it is operated by a company registered in Cyprus and working under a license from the local regulator, CySEC. On the website, you can find both the firm’s registration number and the license number.
Checks in the Cyprus business registry show that TIOmarkets CY Ltd was indeed officially registered in July 2019. This is the company that provides brokerage services in Europe under the trade name TIOmarkets and holds the CySEC license No. 429/23.
Search results in the CySEC database confirm both the validity of the license with this number and the fact that the company uses the domain tiomarkets.eu. Therefore, the platform indeed provides brokerage services legally and in accordance with the regulator’s requirements.
However, a discrepancy in dates made us look at companies with the same name operating in other jurisdictions. It turned out that several entities operate under this brand, including:
Another point worth noting: for most companies in the group (except the UK entity), the gap between registration and obtaining a license is 4–5 years. Naturally, we wondered: did TIOmarkets CY Ltd not provide any brokerage services during the four years after its registration in 2019? Especially considering that the tiomarkets.eu domain was registered in 2019, yet according to the snapshots on Web Archive, activity only started in 2023–2024.
At the same time, the history of tiomarkets.com on Web Archive shows that since 2019, the project provided services without a license. Offshore trading without restrictions on trading conditions allowed the owners to generate super-profits, which were then used to buy registered companies, fund authorized capital, pay for licenses, and acquire domain names for the legally operating platforms now regulated by well-known authorities.
Nevertheless, the European broker TIOmarkets legally operates under the CySEC license. It adheres to all regulatory requirements, for example, it limits maximum leverage to 1:30 and is a member of the Investor Compensation Fund (ICF), which guarantees client compensation of up to €20,000 in case of problems with the broker.
Interestingly, we did not find a single tiomarkets.eu review, despite the European company operating for two years, normally, plenty of feedback would have appeared by now. But there are many reviews about the group as a whole and its offshore website tiomarkets.com: 661 on Trustpilot and nearly 100 on reviews.io. Trustpilot authors are clearly posting paid comments, with 93% being positive. Meanwhile, on reviews.io, only 18% of reviews are positive.
Neither the UK nor the Cypriot license has helped TIOmarkets earn a strong reputation on specialized platforms either. For example, the rating on WikiFX is only neutral (5.89 out of 10), and users are warned about the high risk of trading with TIOmarkets.
We’ve noticed that the broker does not always fully comply with the requirements of the Cypriot regulator and the provisions of the MiFID II directive, which are mandatory for anyone offering brokerage or dealing services in Europe. To begin with, traders are not asked to provide personal data during registration (such as date of birth or address), even though it is prohibited to create accounts and open trading profiles without this information.
In addition, at least two more general requirements that European brokers must follow are violated in the user dashboard:
We can state an unpleasant fact: the team’s long-term work in an offshore company operating without a license has negatively affected the current situation. TIOmarkets continues to use the same practices and ignore certain regulatory requirements, which contributes to traders losing their funds in high-risk trading.
The broker’s official website is generally well-executed, at least visually. We rated the optimized layout and fast page loading quite highly, as well as the contrasting color scheme and well-chosen thematic images.
The content also doesn’t raise any major concerns. The website structure is extensive, with many pages and plenty of information that would be useful for both beginners and experienced traders. However, a few issues remain:
Trying to review TIOmarkets’ trading conditions turned out to be quite disappointing. Although the broker devoted an entire section of the Trading menu to them, we were still unable to find all the information we were looking for. The list of account types turned out to be the most informative source.
The broker offers three account types in total: Standard, Raw, and VIP Black. The main difference between them lies in the features that determine any trader’s costs: spreads and trading commissions.
The minimum deposit requirements also differ: €100, €250, and €1,000 for Standard, Raw, and VIP Black accounts, respectively.
Other conditions are the same across all account types:
Unfortunately, nearly all pages in the Trading Conditions section proved to be largely useless. Only the Spreads page provides actual spread values for all trading instruments. On the Swaps page, users are redirected to the trading terminal, even though traders need this cost information before signing an agreement with the broker. The contract specifications page was also disappointing, the table simply repeats the information from the Spreads page and contains no new data, such as leverage for each asset. In short, this is another consequence of the broker’s long period of operating without a license: it did not want to fully disclose trading conditions.
Still, this is better than most unlicensed platforms. The amount of information about trading terms on TIOmarkets’ pages is many times greater than on pseudo-companies operating illegally.
The contact information provided by the broker is very disappointing. On the Support page, a trader can find:
Regarding addresses, all appear virtual: located in major office centers, but without suite or office numbers, and searches for each show dozens of different companies.
In reality, the only option for quick problem resolution is the online chat available on the official website. Replies are promised within 3 seconds. However, this only refers to the first message from the user, which is answered by a chatbot that cannot solve even simple issues. Any real support requires a human operator, who can often take hours to respond, likely due to a small support team.
Another unusual detail for a regulated platform is the lack of social media links. Two years after obtaining a license and launching the official website, there would have been time and resources to create profiles and populate social media channels. Why wasn’t this done? We assume a lack of qualified staff and habits left over from the unlicensed period. Typically, scammers do not need social media, and when transitioning to legal operations, they simply do not know how to maintain it or engage an audience.