TNFX Scandal: Scam Allegations and Regulatory Risks

A growing number of traders have raised concerns regarding TNFX for its scammy tactics. And, the number has so rapidly grown that it indicates a clear risk sign for anyone using the platform. After all, trading is a game of high stakes, being about the traders hard-earned funds, which may also get lost in hopes of false profits.

About TNFX

TNFX is an offshore Retail Forex License holder broker that offers trading in forex, metals, equities, indices, cryptocurrencies, and futures with leverage up to 500x. It operates as a MetaTrader 4 and 5 and supports multiple payment methods. The broker also claims to have a withdrawal process duration of under 24 hours; however, this may not be true, as evidenced by the growing number of negative trader feedback.

What do traders think of TNFX?

An East African trader has posted a concerning review bringing in focus how TNFX withheld their legitimate profits and denied withdrawal, seeking answers for their unjust actions.

Here‘s what they’ve posted -

Furthermore, the trader also added the screenshots for proof -

And that is not the only negative experience with TNFX. There have been several complaints in the last 3 months, with traders alleging similar issues with denied withdrawals.

Adding to that, the other allegations on TNFX by the traders are as follows:

• Balance is not updating after deposit
• Delayed withdrawal request with balance confiscation
• Erased balance without any reason
• Deleted profits
• Ignored emails by the customer support service
• Money laundering and fraud

Amid the flood of negative feedback, a few reviews have also praised TNFX. However, the positive remarks contrast with the exposure complaints, raising suspicions of selective service quality or promotional reviews.

What does WikiFX say?

As per WikiFX, TNFX has a lower trust score of only 4.8 out of 10, with a warning for traders stating the risks -

The pattern of complaints signals scammy tactics associated with scam brokers. Also, the reports of TNFX facing legal action for money laundering and fraud in Iraq and being sued by state security further question the brokers credibility and indicate clear red flags.

Conclusion

TNFX has repeatedly failed to stand up to the mark and prove its credibility and reliability among the traders. The ratio of positive to negative comments at WikiFX is also as high as 13:4, which signals that there are serious concerns related to the brokers operations and that the traders must stay clear of it.

Traders are advised to avoid TNFX and are shown the high-risk sign as well on WikiFX review page, to warn them before any losses.

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