TempleFX Review 2024
Website: templefx.com
Min. Deposit: US$ 50
Leverage: 1:500
Trading Platforms: MT4
Regulation: FCA
Headquarters: UK
Founded: 2005
Regulatory Licenses:
- TS Capital Limited - authorized by FCA (UK) registration no. 447281 - not active
In a Snapshot
April 2, 2024
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At Broker Insight, our review methodology for evaluating brokers is comprehensive and multi-faceted, ensuring a well-rounded analysis. We start by examining the broker's regulatory compliance and background, assessing the security and reliability of their operations. This is followed by a thorough evaluation of the range and diversity of trading instruments and markets offered, as well as the variety and suitability of account types available for different trader profiles. We delve into the trading platforms and tools provided, focusing on user experience, functionality, and technological robustness. Fees, spreads, and overall cost structure are scrutinized for transparency and competitiveness. A key component of our review involves testing the effectiveness and responsiveness of customer support. Additionally, we consider the ease and efficiency of the deposit and withdrawal processes. Finally, we incorporate real user feedback and the broker’s community reputation into our assessment to present a holistic and unbiased review that serves as a valuable resource for traders seeking reliable and insightful broker evaluations.
Operating from its London headquarters, TempleFX has established a robust trading ecosystem that combines advanced trading technology with superior customer service. This fusion positions TempleFX as a secure, transparent, and dependable broker. As a fully licensed entity, TempleFX caters to various trading needs, offering unparalleled trading conditions tailored for both novice and experienced traders, as well as institutional clients. The brokerage provides a diverse range of tradable markets, which includes options for managing single or multiple accounts simultaneously. Traders have the freedom to employ any trading style and Expert Advisors (EAs) without restrictions. The Straight Through Processing (STP) environment ensures swift order execution, with quotes sourced from top-tier banks. Clients have access to trade over 60 FX pairs, Spot Metals, Commodities CFDs, Major Indices, Algos, trading strategies, Futures, and engage in Spread Betting. Customer support is readily available 24/7, ensuring traders receive assistance for any trading inquiries or needs.
For a comprehensive understanding of TempleFX's safety measures and legitimacy, this section delves into the broker's regulatory framework and client protection schemes. TempleFX operates under the trading name of TS Capital Limited, which is authorized and regulated by the UK's Financial Conduct Authority (FCA). The FCA's stringent regulatory standards mandate rigorous adherence to operational protocols and ensure a high level of client protection. Furthermore, if a trader qualifies as an eligible claimant under FCA rules, they may be entitled to compensation from the Financial Services Compensation Scheme in the event that TempleFX fails to meet its obligations. The entitlement to compensation and the amount payable are determined by the rules of the scheme, with the maximum compensation capped at £50,000.00. This regulatory framework and protection scheme underscore TempleFX's commitment to providing a safe and reliable trading environment.
As a broker that leverages technology to provide superior trading experiences, TempleFX relies on the MetaTrader 4 system. This system, in partnership with their liquidity provider the MEX Group, offers powerful trading functionalities. The platform is known for its user-friendly interface, rapid execution speeds, and access to inter-bank liquidity, making it a robust choice for traders.
This multi-asset platform can be accessed through both PC and mobile applications, equipped with a comprehensive range of tools necessary for intelligent trading. It supports automatic trading without any restrictions on Expert Advisors (EAs), ensuring that traders can utilize the most widely used trading terminal to its full potential.
TempleFX has developed an innovative trading tool, the TempleFX Algo, which trades a variety of currencies. This tool, along with the built-in Currency Strength Analyser and 15-25 EAs, operates in perfect harmony, offering a unique trading strategy. This algorithm is designed to remove the emotional aspect of trading, providing a stress-free experience for traders, regardless of their experience level.
Additionally, TempleFX caters to Money Managers through its MAM offering, allowing them to manage multiple sub-accounts. These sub-accounts are required to grant a Power of Attorney to the master account for trading on their behalf, with a minimum balance requirement of $1,000. This arrangement gives managers complete control over the executed trades, adding another layer of utility to the platform.
The accounts at TempleFX are tailored to meet the varied needs of traders, offering three distinct options. All accounts come with up to 1:500 leverage, a minimum trade size of 0.01, personal account management, constant support, and the option to open either a Demo account or a Swap-free account for those adhering to Islamic faith.
Basic Account requires a minimal initial deposit of $50. It grants access to a wide range of trading products and permits all trading styles. The trading costs are competitive, with spreads for EUR/USD starting from 2.2 pips.
Advanced Account is designed for more experienced traders, requiring a minimum balance of $500. This account type offers better trading costs, with spreads on EUR/USD beginning at 1.6 pips.
ECN Account is tailored for professional traders seeking raw spreads for their strategy, particularly benefiting Algo trading. A minimum balance of $5,000 is required, with spreads starting from 0 pips and interbank quotes. A commission of $7 per lot is applied. The Advanced account, however, is recommended for Algorithm trading, offering advanced tools and specific company offerings to facilitate decisionmaking in the financial markets.
TempleFX offers a variety of currencies for account funding, including USD, EUR, and GBP. Traders have the flexibility to deposit funds into their TempleFX trading accounts via several methods: Credit or Debit Card, and Bank Transfer. Accepted Credit or Debit Cards encompass a wide range, such as Visa, MasterCard, Diners Club, American Express, Maestro, and JCB. Additionally, clients are provided with the convenience of withdrawing their funds at any moment or opting to only withdraw profits while keeping their initial deposit intact.
In summary, the TempleFX Review highlights a UK-based brokerage firm that provides an STP execution and a technologically advanced trading environment, under the strict regulation of the esteemed FCA. This regulation ensures that traders can invest with confidence, knowing the company adheres to all necessary rules and guidelines, thereby ensuring the safety of funds and the protection of the client. The brokerage's variety of account types caters to investors of all sizes and strategies, making it accessible to many. Additionally, TempleFX offers specialized features for traders engaged in Algorithmic and mathematical trading, including support for Algos. The company pledges comprehensive support to its clients throughout their trading journey, ensuring they are well-informed at every step. Ultimately, TempleFX stands out as a commendable choice for those looking to commence their trading endeavors or further develop their trading expertise.
Currently, there is an ambiguity regarding the continuation of TempleFX's operations, as the official website is not accessible. It is advisable to exercise caution and thoroughly verify any information or opportunities associated with the TempleFX brand to ensure safety.
