Templer FX Review (2023)

What is Templer FX?

Templer Holding was founded by foreign exchange veterans with over 40 years combined experience and commenced business at the end of 2004. The company operates as an institutional and retail ECN (ECN brokers) counterparty to clients trading in the foreign exchange (“Forex”) market. Templer FX is a trademark of St. Vincent and the Grenadines financial investment firm, which is also authorized by the local agency FSA, the Financial Service Provider Commission with license number 23395. The broker offers a variety of trading opportunities including speculation on Forex, CFD, Indices and Metals through an industry leader MetaTrader4.

Licenses & Regulation

Is Templer FX regulated?

It is not safe to trade with TemplerFX. TemplerFX is owned by Templer Holdings Management Ltd. which is an offshore company registered in St. Vincent and the Grenadines. However, SVG authorization is considered as an offshore license that is not also recommended for any trader to be trusted and invested with. The reason for that is the set of rules and established requirements that are implemented by the SVG FSA are very far from the international strictest standards that truly protect clients. In addition, the authority does not actually oversee the firm’s operation, therefore the states about regulated nature, integrity and transparency as fundamentals, as stated, are very far from the reality. 

Even though the FinaCom is a well-respected organization, it is a self-regulatory organization which cannot guarantee the safety of the trading environment and does not regulate the daily operations of the company, therefore can’t provide necessary protection to the client.

From our source, it costs €24,000 per year to become a member. However, and there is no handbook or guidelines for brokers to run their business. Therefore, there is zero protection for traders. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.

Is Templer FX a scam?

Besides, the company states their payment service provider is a firm located in Scotland, Mayside Solutions LP, which is rather confusing than a positive fact. Moreover, the company mentions numerous international standardization and successful operations through the years since their start in 2004. It is a quite long operation history, yet there are not so many online reviews from the traders, which is definitely a negative aspect, as it is simply impossible to operate for so long and remain with just several mainly negative reviews. Even though the only few available responses from the real traders show that the company delivers trading conditions with cases of manipulation, issues with withdrawals and aggressive tactics. 

Templer FX in India

Templer FX allows Indian traders to open accounts and trade. However, Templer FX has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.

Templer FX in the USA

The United States is one of the countries that is not accepted by Templer FX. As per the U.S law, brokers regulated by CFTC are the only brokers allowed for the USA traders. So, except for Forex Birds, you are only permitted to trade with the U.S regulated platforms. Also, the broker does not provide services to the UK, EU, Canada, Turkey, Israel, and Japan residents and entities of any kind.

Deposits and Withdrawals

The minimum deposit requirement is 25 USD. Templer FX Brokerage withdrawal fees vary on payment method. Templer FX Brokerage does charge a fee for inactive accounts. Templer FX Brokerage does charge deposit fees. Temper FX offers a lot of payment methods including bank wire transfers, credit cards, and popular e-wallet systems such as Skrill, Perfect Money, fasapay, Qiwi Wallet, and more.

Demo Account

Templer FX also offers a demo account. The Demo Account is provided to give traders a demonstration of the broker’s trading platform and to offer traders the opportunity to trade on simulated real trading conditions. This further allows the trader to gain more experience prior to trading with real funds and facing actual risk. Traders may test their trading strategies and become familiar with the trading platform at their own pace.

Conclusion 

Overall, this is a quite typical behavior of a non-regulated company that delivers service with no priority on customer satisfaction and good. The investment, in general, is a risky business, that requires a company with a legitimate follow of standards and applicable protecting rules designed to the customer. 

We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and have a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets, HotForex and Infinox (Read our review on Infinox).

Yet, it is always great to hear your personal opinion about Templer FX. So you may share your experience or thoughts or discuss them below or ask us for additional information.