Tallinex Review (2023)

Beware Tallinex is a Non Licensed Broker. It is NOT SAFE to trade.

• Company name: 

Tallinex Limited

• Registration Address/ License:

Estonia. St. Vincent and the Grenadines. No License, No Regulation. 

Tallinex is registered trademark or service mark of Tallinex Limited registered and located in St. Vincent and the Grenadines while originating in Estonia. The broker mentions that all Tallinex trades are transmitted swiftly and reliably to the world’s largest banks through a PrimeXM FX bridge to Integral’s FX Grid system, which is optimized for Forex trading. That the clients can benefit from better ECN/STP technology and confidently trade the Forex markets through Tallinex platform.

However, the SVG governmental structure does not perform strictest standards in regard to the financial service firms. For that reason, the Talllinex is a non-regulated company that delivers its business only with follow their own concerns.

In addition to that, recently the company was fined by the US reputable authority CFTC and received warning from the EU regulators. The authorities found that Tallinex operated as an unregistered foreign exchange dealer by soliciting orders for leveraged forex transactions from retail U.S. and EU customers, and offered to be the counterparty to such contracts with its customers. The Order also found that Tallinex defrauded these customers by knowingly or recklessly misrepresenting or omitting material facts.

“Tallinex Ltd. Ordered to Pay nearly $10.3 Million in Restitution to Defrauded Customers and Defendants Ordered to Pay Civil Monetary Penalties Totaling More than $760,000”

CFTC, USA. July, 2018.

Conclusion

In conclusion, according to the finding we recommend to avoid trading with Tallinex and keep the safe trek of investment option with a well-regulated and authorized companies that are constantly checked. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and HotForex.