If you have been started forex trading business in Nigeria or you are already trading in the foreign exchange market (forex market), you must have heard or come across the Tallinex Nigeria forex broker. In this honest review of the tallinex Nigeria forex broker, you will get to know about the features of the tallinex forex broker, its forex trading accounts, the tallinex forex trading platform, tallinex pros and cons, tallinex history background and get to know if they are a scam or legit in this article.
Tallinex is a forex broker that specialized on a safe trading platform which allows forex traders to trade in forex market conditions with confidence and assurance. Tallinex was founded in 2012 as an STP/ECN broker, it has its headquarters located in Tallinn, Estonia. The Estonian company is registered under the Estonia Ministry of Economic Affairs and Communications and they are regulated by the FSA in Grenadines jurisdiction and St Vincent. Since its establishment in 2012, Tallinex has built up a trustworthy, transparent and honest reputation in a short space of time. This has made a lot of money managers, entrepreneurs and investors all over the world to develop interest and enthusiasm in trading with Tallinex.
Through Tallinex, a lot of forex traders has benefitted from its platform since it has an optimized ECN/STP environment which makes traders trade in the foreign exchange market without having any hurdles and obstacles in trading situations. Tallinex is known for its usage of the MT4 trading platform which is popularly known as Meta Trader 4 platform and they are available on Andriod devices, Windows and all iOS/Apple devices.
Features of Tallinex
One of the exciting features of Tallinex is that it has three different trading accounts available for its clients. The Tallinex ECN-Micro account has variable spreads which start from 1.5 pips for EUR/USD. The ECN-micro account has leverage that runs up from 1:1 to 1:400 and it requires a minimum account deposit of $100. The second account is the ECN-Pro account; it is designed for beginners, new traders and people who are willing to trade in small volumes. The ECN-Pro account requires a minimum account deposit of $2000, the ECN-Pro account has leverage which runs up from 1:1 up to 1:200 and it starts from 0.0 pips for EUR/USD.
The Pro-Managed account is made for Tallinex clients and traders who are ready and willing to expand their options and opportunities. The Pro-Managed account is designed for traders who don’t have the time or desire to master the foreign exchange currency markets but are ready to invest in the forex market with the aim of making a profit for themselves.
Money managers make use of the Tallinex’s PAMM account system which allows traders to trade on their accounts without having access to the account. Forex traders can monitor their trades in real-time and can still gain access to their access at their wish.
In addition, all Tallinex account holders receive a notification/alert that shows the account activity and the record of sales placed daily, tallinex traders receive notifications in form of daily statement which is sent to their email.
Tallinex offers a demo account for forex traders to trade for free in the forex market. The forex market is loaded with virtual funds which will allow clients to gain forex trading experience while using the demo account. Some demo accounts in the tallinex trading platform use Tallinex live feeds and real spreads for strategic forex market evaluation.
Active demo accounts on the tallinex platform never expire, but dormant account gets expired and is automatically deleted and removed from their system.
Tallinex offers its clients and forex traders guaranteed low spreads on trading accounts, with leverage up to 1:400 and they have no restrictions for forex traders from Britain, Columbia. Due to CFTC restriction, they do not accept forex trading partners from the United States.
Another unique feature of Tallinext is that the minimum deposit for account deposit is $100 which is considered to be a low amount since the forex broker runs in an ECN/STP environment.
Forex traders will be delighted to enjoy forex trading in the Tallinex platform since the account spread starts at 0.0pips. Leverage of 1.1000 is enjoyed by forex traders as well as leniency with regards for forex trading practices like scalping, hedging etc.
However, while making the Tallinex review, I was surprised and shocked to see that Tallinex doesn’t offer its traders with educational materials that will help them to perform better in the forex market. Unlike other forex traders that offer educational materials, webinars, ebook, and calculators to their clients and forex traders, Tallinex does not offer any forex tutorial on their platform.
Tallinex Trading Platforms
Tallinex supports the following platforms for forex traders and clients to trade on the foreign exchange market.
Tallinex uses the hugely popular MT4 forex trading platform for its clients to trade in the foreign exchange market. Their MetaTrader 4 platform is available in 33 languages.
The Tallinex MetaTrader 4 forex trading platform is available on iPhone, iOS, Windows and Andriod devices. This makes it convenient for forex traders to trade with any device they have.
Their trading platform is also available for traders on iOs, Andriod, and Mac. The MetaTrader forex trading platform provides analytical tools for forex trading analysis. It allows forex traders to understand real-time forex trading easily with or without the assistance of forex trading robots (EAs).
MetaTrader 4.0 trading platform is a popular forex trading which is being used and enjoyed by forex traders. The MT4 trading platform is equipped with graphical, visual and advances tools with a user-friendly structure and numerous indicators. This is why the MetaTrader 4 trading platform is the favorite trading platform among forex traders of the world.
Android smartphone users can use their device to trade on the tallinex forex platform. Forex traders can buy and sell in the forex market by getting the tallinex mobile application
iPhone and iPad App
Apple users and iOs smartphone users can execute trades in the foreign exchange market by getting the tallinex application for Apple devices.
Application Software Platform
Tallinex retains a platform that allows money managers in the forex market to gain access to multiple trading accounts from a single trading platform.
Tallinex Customer Support
Tallinex has a customer care support team which can be reached and contacted to make inquiries on account or questions regarding their platform. Tallinex customer support is only active for 24/5 (24 hours for 5 days of the week).
The Tallinex website is easy for anybody to navigate and operate, however, their website is only available in the English language.
They have multilingual telephone support, which supports other languages such as Russian, French, Portuguese, Finnish, Estonia, German, Swedish but the main language on their website is the English language. The customer care can be called on +372 568 892 92 and can be reached via mail on firstname.lastname@example.org.
Tallinex Advantages (Pros)
Tallinex offers Multi Account Manager) solutions with a percentage allocation option for traders.
Tallinex has restrictions for forex traders in the United States (U.S)
Tallinex accepts clients from the United States (U.S)
Forex traders find the tallinex website easy to navigate and use.
Tallinex has multilingual customer support.
Traders enjoy account pips that starts from 0.0pips.
Tallinex comes with high bonuses with a leverage up to 1:1000.
Tallinex supports the MetaTrader 4.0 forex trading platform.
They have a different type of account for their clients
Tallinex offers a demo account which is free and loaded with virtual funds for traders to use and gain experience of the forex market.
Tallinex ECN-Micro account has an account minimum deposit of $100.
They offer a 100 upon every deposit made on trading accounts.
Tallinex forex traders receive a daily statement of account which is sent to their email addresses.
Tallinex has excellent customer care support.
Tallinext provides forex traders with ideal trading conditions on the Pro-Managed account.
Tallinex cares for its clients by giving them updates and reminders on their account activity.
Tallinex forex broker runs in an ECN/STP environment.
They have tight spreads on trading accounts.
Tallinex provides reliable forex trading signals.
Tallinex allows scalping, hedging and allows EAs on trading accounts.
Tallinex Disadvantages (Cons)
Tallinex have been sued in the past by CFTC for accepting clients from the United States (U.S)
Tallinex does not offer its clients with tutorials or educational materials.
Widespread on trading accounts during news events.
Tallinex offers EUR and USD as the only trading currency on its platform.
Tallinex Payment Methods
In order to create room for customers to fund their account and withdraw their funds from their trading account. Tallinex offers different methods of payment and payment options for its clients which include; Credit/debit card, bank wire, Neteller, Skrill etc.
Overall, Tallinex is a reliable forex broker which has made its name in the foreign exchange market. They satisfy their clients with excellent services and products.
They have built a solid reputation of being a reliable and honest forex broker within a short period. It offers commissions and spreads on the account which competes with other forex trading platforms.
As a forex broker, they have attracted interest from money managers, forex investors and High Net Worth (HNW) clients from different countries of the world.
They are a good forex broker that is worthy to try out for interested and prospective forex traders.
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Happy Earning !!!