After about thirteen years at IG Group, Mr. Hughes takes the helm of TigerWit Limited, the new name of Mercor Index after the acquisition of the company. Discover credible partners and premium clients at China’s leading finance event! The hire comes just over a month after the firm announced the acquisition of Mercor Index, a company started by Simon Denham. Mr Hughes continued, “Partnering with a Premier League football club and one with such a heritage as Liverpool FC is proving a successful part of our strategy to build TigerWit’s brand awareness. We are looking ahead to 2019 with great optimism too. Our plan this year is to grow our global footprint even further and we look forward to providing further updates throughout the year.” The TigerWit Group includes TigerWit Limited (UK), which is authorised and regulated by the Financial Conduct Authority (FCA), license number , and TigerWit Limited (Bahamas), which is authorised and regulated by the Securities Commission of The Bahamas (SCB), license number SIA-F185. TigerWit (Hong Kong) Limited (CE no BOI171) is licensed with the Securities and Futures Commission (SFC) to conduct regulated activities in Hong Kong.
The good news is that the Chinese government is committing a lot of efforts to open the retail trading market. At the same time, this encourages illicit practices for brokers which are operating offshore and are not bound by any compliance rules, which is clearly not good for anyone. The education issue is common in new markets however the regulation aspect has been a major issue for the industry in China. Getting regulated is essential to our business and our investors are relying on us to get a serious compliance solution for the company to eventually go public.
🔹The development and rollout of the AXI trading app across multiple markets
The combination of high leverage, mixed regulatory status, and customer complaints indicates a moderate to high risk level for potential traders. The quality of order execution is vital for traders, particularly in fast-moving markets. Overall, while TigerWit does hold licenses from reputable authorities, the mixed reviews regarding its regulatory compliance warrant a cautious approach from potential traders. The significance of these regulatory bodies cannot be overstated, as they are tasked with safeguarding traders’ interests and ensuring fair trading practices.
- Offshore brokers also have to educate their clients first, which means that the conversion time can be much longer.
- The significance of these regulatory bodies cannot be overstated, as they are tasked with safeguarding traders’ interests and ensuring fair trading practices.
- Enter a New Zealand based, Delaware domiciled investment company called Investor Limited, run by former FxPro executive Jim Manczak.
- I can’t see any other conclusion when a leverage restriction is applied which by definition reduces the amount of volume that anyone can do.
- However, this expansion has coincided with a rapidly-changing regulatory environment for brokers with the recent implementation of MiFID II.
- The good news is that the Chinese government is committing a lot of efforts to open the retail trading market.
Is TigerWit a scam, or is it legit?
TigerWit claims to be regulated by the Financial Conduct Authority (FCA) in the UK and the Securities Commission of the Bahamas (SCB). Based in the UK, it aims to provide a user-friendly trading experience through its advanced platforms and a range of trading instruments. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. We are not responsible for any losses you may incur, by investing with a company mentioned on this website. ScamBroker.com is paxful review a broker reviews website, and does not offer any investing advice or service. When choosing the right copy trader, it is important to closely analyze the performance, and even more so, understand the terminology.
Company Background Investigation
- I think fundamentally Hong Kong has significant historical and structural benefits, which has got it to the position of a massive global financial centre, and I think it’s very likely to continue with that kind of status and therefore offer a very attractive access point for the south-east Asian region.”
- Not all of the software and the data solutions which works well for established markets is suitable for the Chinese market.
- Discover credible partners and premium clients at China’s leading finance event!
- While some traders have had positive interactions with customer service, the inconsistency in response times and effectiveness is a point of concern.
- For mobile trading, this broker offers a unique trading app for Android & iOS, which includes social trading.
- A very small proportion of people in China know what is forex trading and how to trade.
There have been historical concerns regarding the safety of funds with certain brokers operating under less stringent regulations, particularly those based in offshore jurisdictions like the Bahamas. However, the effectiveness of these measures is contingent on the broker’s operational integrity and regulatory compliance. This means that client funds are kept separate from the broker’s operational funds, which is a standard practice among reputable brokers. TigerWit claims to implement robust security measures, including segregated accounts for client funds and adherence to regulatory requirements. When evaluating a broker, understanding the trading conditions, including fees and spreads, is essential. A broker’s transparency in disclosing its ownership and management structure is a vital aspect of building trust with its clients.
Platform
Given a more tightly regulated environment across nearly every asset class, Read this Term solutions. However, due to the profound recent regulatory changes in the EU market, there is still no ‘new normal’ is etoro safe as the impact of those changes continues to play out,” added Hughes. I think fundamentally Hong Kong has significant historical and structural benefits, which has got it to the position of a massive global financial centre, and I think it’s very likely to continue with that kind of status and therefore offer a very attractive access point for the south-east Asian region.” As Finance Magnates reported earlier this month, TigerWit secured a license for leveraged forex trading on the 12th of December 2019 for TigerWit (Hong Kong) Limited (BOI171). This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Read this Term trading offerings and platforms.
“TigerWit is full of technical innovators and we have some very exciting plans for the future that we believe will further transform our industry to the benefit of traders and investors. Firstly, the number of brokers offering their services, with more mone Read this Term changed the way we invest,” he said. TigerWit Group has appointed industry veteran Tim Hughes as CEO, the company officially confirmed today. In 2018, client opening trade numbers rose by 68% when compared to 2017 and as at Year End clients’ balances were up 38%, demonstrating a substantial uplift in client activity across the group.
The mixed regulatory status, customer complaints, and issues with trade execution suggest that caution is warranted. Engaging with any broker comes with inherent risks, and TigerWit is no exception. Therefore, while MT4 is a solid platform, the execution quality at TigerWit raises red flags that potential traders should consider. Such practices are lmfx review detrimental to traders and can significantly impact their profitability. While some traders have had positive interactions with customer service, the inconsistency in response times and effectiveness is a point of concern. Common complaints include difficulties in withdrawing funds, leading to frustration among traders.
This raises questions about the company’s accountability and governance. The company is registered in England and Wales, and its ownership structure is somewhat opaque, with limited publicly available information on its management team. Always verify that your broker, is licensed by your local financial regulator. Always verify that your broker is licensed by your local financial regulator (i.e. FCA United Kingdom).
Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term that is taking a fresh look at the trading space – particularly retail forex trading. You can speculate via our CFD service on the rise and fall of valuable commodities such as precious metals, gold and silver, oil (Brent, WTI), indices (UK 100, US 30, Germany, etc) and more.TigerWit puts the world of forex trading at your fingertips offering you an easy to use entry to the fast-moving global markets. To mitigate these risks, traders should consider starting with a demo account to familiarize themselves with the platform and trading conditions.
The services that offshore brokers provide are mostly the same that are popular globally – a standard MT4 offering is the typical solution, and the lack of differentiation is apparent. Once the market is regulated, our company’s focus on technology will give us a competitive advantage. Following significant research and development we’ve found that clients trade more frequently using smaller amounts and they don’t want a complicated trading interface, so our goal is to make a product for retail forex clients that simplifies trading and focuses on mobile devices. With the Chinese market continuing to grow, more brokers are getting interested in acquiring clients from the region. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients.
From a regulatory point of view, the retail trading Chinese market is not open yet. The first one is that traders in this market are less educated and the second one is that there is less regulation. One of the founders and currently CEO of the firm, Summer Xu, spoke to Finance Magnates about the challenges the company faced in China and the peculiarities of the Chinese retail trading market in general.
We’ve launched our blockchain application and announced our exciting Liverpool FC partnership which will give us the platform to get ourselves more widely known. We’re used to millisecond latency, and the technology has yet to resolve that. We are well aware of its current limitations with the obvious one in the trading space being the speed with which it can process things. Blockchain is a hot topic at the moment, and we see inherent benefits that the technology brings in providing trust and transparency. So in a nutshell, TigerWit is bringing new and emerging technologies to the industry in order to enhance transparency, improve the trading experience and trustworthiness within the trading space, ultimately leading to a fairer trading environment.
One firm that does is TigerWit, a technology company turned brokerage founded by Summer Xu and Weilong Song that is fully committed to the Southeast Asia region. Finance Magnates is a global B2B provider of multi-asset trading news, research and events with special focus on electronic trading, banking, and investing. SIG is enormously technology focused, deep in the markets, very algorithmic driven, incredibly successful.