Attention, scam: review and feedback on Tior Capital
About Tior Capital Company
Tior Capital Broker provides its clients with ECN/STP accounts, which, in the company’s view, guarantees fair trading on the market. However, recently there has been an increase in complaints about the quality of services provided by “Tior Capital.” To clarify the reliability of this broker, we suggest reviewing its website tior-capital.com and considering the ratings provided by its clients. By obtaining comprehensive information, we can draw conclusions about the advisability of working with this company.
A Brief History
Tior Capital Company was established 2 years ago, with its regulations approved in January 2018. The company is registered in the territory of Saint Vincent and the Grenadines, where its main office is located.
It’s not the first time we’ve analyzed the activities of brokers accredited in offshore zones. It is known that in most cases this is associated with minimizing tax burdens rather than the ability to engage in fraudulent schemes. After registration, such companies, aiming to demonstrate a serious approach, enthusiastically start the process of obtaining a license from a reputable regulator. “Tior Capital” has also supported this idea and posted a copy of its license on its website.
At first glance, there is nothing strange in the document. The license document is valid until February 2020, but there is no information on the existence of this CFD broker on the regulator’s website. When trying to find it through a search, the service returns a negative result, stating that there is no organization with the abbreviation VFSC in the registry.
When a broker starts with lies at the very first contact stage, it is difficult to expect honest and transparent cooperation conditions. Let’s also examine the trading conditions offered by “Tior Capital” for a deep understanding of the situation.
Trading Conditions Overview
Tior Capital Company describes its conditions as unique. Clients who open an account on tior-capital.com have access to the following options:
- Minimum deposit – 100 USD,
- Spread from 0 points,
- Trade execution from 0.1 seconds with no requotes,
- Commission-free deposits,
- Over 70 trading instruments,
- Leverage from 1:1 to 1:500,
- Scalping allowed, news trading, EA trading, trade hedging.
Tior Capital offers 3 types of accounts:
- Classic Mini. Suitable for beginners,
- Crypto Classic. Account for experienced players,
- PRO-STP. Account for large investors.
This is just a brief overview of the broker’s obligations. More detailed information can only be found on the company’s website tior-capital.com.
Tior Capital provides round-the-clock technical support for all clients. You can contact them by email or through a special feedback form.
Funding and Withdrawal
You can top up your balance with cards, transfers, and electronic payment services. For a bank transfer, the client must provide the broker with a copy of their passport. Funds can only be credited from the account of the owner or without opening an account. The same requirements are imposed for fund withdrawals.
When withdrawing to a card, you need to provide scans of both sides of the card. If it’s a virtual card, you need to obtain an official confirmation letter. Skrill service requires pre-verification.
Clients can also transfer funds between their accounts on the broker’s platform.
Client Servicing Contract Features
A special point of interest is the “suspicious operations” section in the Tior Capital contract. The broker reserves the right to reject applications, restrict fund deposits/withdrawals, refund funds, deduct commissions and bonuses, and terminate the agreement with the client if an operation not meeting its criteria is detected.
These conditions allow the broker to appease clients at its discretion. According to reviews, “Tior Capital” actively exercises this right as it sees fit.
The contract also covers the account funding process and additional client expense payments.
Reviews of CFD Broker
Based on the collected information about Tior Capital, it has been found that the broker has a rather low rating online. This undoubtedly indicates the absence of positive reviews and an abundance of accusations of fraud, deception, and dishonesty.
After analysis, we have compiled a list of fraudulent schemes involving the CFD broker tior-capital.com.
What Tricks Does the Broker Use?
In the process of exposing the Tior Capital broker, 3 main fraud schemes were identified:
- Convincing clients of the need to pay fictional commissions and insurances. Any required additional payments for profit withdrawal are a sign of fraud. All commissions are automatically deducted from the withdrawal amount,
- Blocking client accounts with a demand for payment to unlock them of 10–15% of the balance,
- Lack of fund withdrawals, even after paying commissions and fines.
According to clients’ feedback, it is nearly impossible to reclaim their funds due to the conditions outlined in the client agreement.
There are numerous stories online about how clients have fallen victim to fraud from Tior Capital. Some of them can be read below.
Conclusions
Tior Capital Broker combines all the negative aspects warned about by experienced traders. It is a young company registered offshore that misleads from the outset by offering a fake license on its website. Negative client reviews are supplemented by several fraudulent schemes described by current clients. Considering all this data, we cannot recommend opening an account with this company. If you have arguments in favor of Tior Capital, feel free to share them in the review comments.
Author: Sasha Chaika
Don’t forget to stay updated and read reviews, for example, about the broker IronFX.