Tier1FX – legit or scam?

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  • #197120 Reply
    LogLot1986

      Anyone ere used these Tier1FX for algo trading? Are they good lads? I aint come across them before now.

      T1 Brokerage

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      • #197280 Reply
        James Barra
        Moderator
          DayTrading.com Team

          Hi LogLot1986,

          Thanks for your message.

          We have not yet fully evaluated Tier1FX. However, there are positive indications that they are a legitimate company, notably that they are regulated by the Malta Financial Services Authority (MFSA), which is a ‘green tier’ body in DayTrading.com’s Regulation & Trust Rating.

          That said, Tier1FX is not as well known in the industry as many of our most trusted brokers.

          I’d also be careful about the entity you sign up with. I did some digging and discovered that the MFSA have issued a warning about a clone of the firm: https://www.mfsa.mt/news-item/mfsa-warning-tier1fx-clone/

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