Overview of Trust & Promise Group

T&P Group is a forex and CFD broker regulated by the Financial Markets Authority (FMA) of New Zealand. The company was founded in 2015 and offers a variety of trading accounts, including standard, ECN, and Islamic accounts. T&P Group also offers a demo account so that traders can practice their trading strategies without risking real money.

T&P Group's trading platform is MetaTrader 4, which is a popular platform that is easy to use and has a variety of features. The company offers a wide range of tradable assets, including forex, CFDs on stocks, indices, and commodities. T&P Group also offers competitive spreads and leverage of up to 1:30. T&P Group's customer support is available 24/5 via email and phone. The company also offers a variety of educational resources, including webinars and articles.

Pros and Cons

Pros:

• Wide range of tradable assets: T&P Group offers a wide range of tradable assets, including forex, CFDs, stocks, indices, and commodities. This gives traders a wide variety of options to choose from when implementing their trading strategies.

• Up to 1:30 leverage: T&P Group offers leverage of up to 1:30, which can be beneficial for traders who want to amplify their potential returns. However, it is important to note that leverage can also magnify losses, so it is important to use it carefully.

• MetaTrader 4 trading platform: MetaTrader 4 is a popular and widely used trading platform that is known for its user-friendly interface and powerful features. T&P Group offers MetaTrader 4, which gives traders access to this popular platform.

• Standard, ECN, and Islamic account types: T&P Group offers a variety of account types to suit different trading needs. Standard account types offer basic features, while ECN account types offer lower spreads and better execution. Islamic account types are compliant with Sharia law.

• Demo account available: T&P Group offers a demo account, which allows traders to practice trading without risking any real money. This is a valuable tool for new traders and for experienced traders who want to try out new strategies.

Cons:

• Regulation revoked by FSPR: T&P Group's regulation was revoked by the FSPR (Financial Services Provider Registry) in 2022. This means that the broker is no longer regulated by a recognized authority, which could increase the risk for traders.

• Minimum deposit varies depending on account type: The minimum deposit required to open an account with T&P Group varies depending on the account type. This means that traders may need to deposit a significant amount of money to start trading.

• Spreads not available: T&P Group does not provide information about its spreads on its website. This makes it difficult for traders to compare T&P Group's spreads to those of other brokers.

• Customer support limited to email and phone: T&P Group's customer support is limited to email and phone. This means that traders may not be able to get help quickly and easily if they have a problem.

• Limited educational resources: T&P Group offers a limited amount of educational resources, such as webinars and articles. This means that traders may need to look elsewhere for additional education and training.

Regulatory Status

T&P Group is a New Zealand-based forex and CFD broker that was founded in 2015. The company's regulation was revoked by the Financial Services Provider Registry (FSPR). This means that T&P Group is no longer regulated by a recognized authority.

The revocation of T&P Group's regulation is a significant concern for traders, as it means that the broker is no longer subject to the same oversight and controls as other regulated brokers. This could increase the risk for traders, as there is no guarantee that T&P Group is operating in a fair and transparent manner.

Traders who are considering opening an account with T&P Group should carefully consider the risks involved. They should also research other regulated brokers to compare their offerings and fees.

Market Instruments

T&P Group offers a variety of products to traders, including:

• FX (Forex): T&P Group allows traders to buy and sell currencies. This is the most popular type of trading, and it offers traders the potential for high returns.

• CFDs (Contracts for Difference): CFDs allow traders to speculate on the price movements of various assets, including stocks, indices, commodities, and even other currencies. CFDs are a leveraged product, which means that traders can control a large position with a small deposit. However, leverage can also magnify losses.

• Stocks: T&P Group offers traders access to a variety of stocks from around the world. Stocks are a good way to get exposure to the growth of specific companies.

• Indices: Indices are baskets of stocks that represent a particular market or sector. Trading indices can be a good way to diversify a portfolio.

• Commodities: Commodities are raw materials such as gold, oil, and wheat. Trading commodities can be a good way to hedge against inflation.

Account Types

Standard Account

The Standard Account is the most basic account type offered by T&P Group and is designed for beginner traders. This account type offers a wide range of tradable assets, including forex, CFDs, stocks, indices, and commodities. The Standard Account has a minimum deposit of $100 and offers leverage of up to 1:30. Spreads on the Standard Account are variable and start at 1.5 pips for EUR/USD.ECN Account

The ECN Account is a more advanced account type that is designed for experienced traders. This account type offers lower spreads and better execution than the Standard Account. The ECN Account has a minimum deposit of $500 and offers leverage of up to 1:30. Spreads on the ECN Account are variable and start at 0.5 pips for EUR/USD.

Islamic Account

The Islamic Account is a specialized account type that is designed for Muslim traders who follow Sharia law. This account type does not charge swaps, which are fees that are charged for overnight positions. The Islamic Account has a minimum deposit of $100 and offers leverage of up to 1:30. Spreads on the Islamic Account are variable and start at 1.5 pips for EUR/USD.

How to Open an Account？

To open an account with T&P Group, follow these steps:

1. Visit the T&P Group website and click on the 'Open Account' button.

2. Enter your personal information, including your name, email address, and phone number.

3. Select the country you reside in.

4. Choose the account type that you want to open.

5. Verify your identity by uploading a copy of your government-issued ID.

6. Fund your account using one of the supported payment methods.

7. Once your account is funded, you can start trading.

Spreads & Commissions

T&P Group offers variable spreads and charges no commission on any of its account types. This means that traders will only pay the difference between the bid and ask prices when they open and close positions.

The spreads on T&P Group's Standard account start at 1.5 pips for EUR/USD. The spreads on the ECN account start at 0.5 pips for EUR/USD. The spreads on the Islamic account start at 1.5 pips for EUR/USD.

Here is a table summarizing the spreads for each account type:

Overall, T&P Group's spreads are competitive with other forex and CFD brokers. The ECN account offers particularly tight spreads, which could be beneficial for traders who are looking to reduce their trading costs.

Leverage

T&P Group offers a maximum leverage of 1:30 for all account types. This means that traders can control a position of up to $30,000 with a deposit of $100. Leverage can be a powerful tool for amplifying profits, but it can also magnify losses. Traders should use leverage with caution and only risk capital that they can afford to lose.

Trading Platform

T&P Group offers the MetaTrader 4 (MT4) trading platform, which is a popular and widely used platform among forex and CFD traders. MT4 is known for its user-friendly interface and powerful features, including:

• Advanced charting: MT4 offers a variety of charting tools that traders can use to analyze market trends. These tools include line charts, bar charts, candlesticks, and indicators.

• Technical analysis tools: MT4 offers a wide range of technical analysis tools that traders can use to identify trading opportunities. These tools include moving averages, Bollinger Bands, and Relative Strength Index (RSI).

• Automated trading: MT4 supports automated trading through the use of Expert Advisors (EAs). EAs are computer programs that can be programmed to execute trades automatically.

Overall, MT4 is a powerful and versatile trading platform that is well-suited for forex and CFD traders of all experience levels. T&P Group's no-dealing-desk execution, fast execution, and low latency make it a good choice for traders who are looking for a reliable and responsive trading platform.

Deposit & Withdrawal

T&P Group offers a variety of payment methods for depositing and withdrawing funds, including:

• Credit cards: T&P Group accepts Visa, Mastercard, and Maestro credit cards.

• Debit cards: T&P Group accepts Visa and Mastercard debit cards.

• Bank transfers: T&P Group accepts wire transfers and SEPA transfers.

• E-wallets: T&P Group accepts Skrill and Neteller e-wallets.

The minimum deposit requirement for T&P Group accounts varies depending on the account type. The minimum deposit for the Standard account is $100, the minimum deposit for the ECN account is $500, and the minimum deposit for the Islamic account is $100.

There is no fee for depositing funds into T&P Group accounts. However, there is a fee for withdrawing funds. The withdrawal fee varies depending on the payment method used.

Here is a table summarizing the withdrawal fees for each payment method:

Please note that these are just estimates, and the actual withdrawal fees may vary. Traders should always check the latest withdrawal fees before withdrawing funds.

Customer Support

T&P Group offers customer support in multiple languages, including English, Chinese, Indonesian, and Malay. Customers can contact T&P Group support through the following methods:

• Email: Customers can email T&P Group support at service@tpfx.net.

• Phone: Customers can call T&P Group support at 4008257968.

• Live chat: Customers can chat with T&P Group support representatives through the live chat feature on the T&P Group website.

The T&P Group support team is available 24/5, Monday to Friday.

T&P Group also has a comprehensive FAQ section on its website that can answer many common questions about its products and services.

Overall, T&P Group's customer support is responsive and helpful. The company offers multiple channels for customers to contact support, and its support team is available 24/5.

Educational Resources

T&P Group offers a limited amount of educational resources for traders. These resources include:

• Webinars: T&P Group occasionally hosts webinars on various trading topics. These webinars are typically recorded and made available to traders on the T&P Group website.

• Articles: T&P Group publishes articles on various trading topics on its website. These articles provide traders with information on trading strategies, market analysis, and risk management.

• Video tutorials: T&P Group offers a few video tutorials on using the MetaTrader 4 trading platform. These tutorials are available on the T&P Group website.

T&P Group's educational resources are not as comprehensive as those offered by many other forex and CFD brokers. However, they may still be helpful for new traders who are looking to learn the basics of trading.

Conclusion

T&P Group is a New Zealand-based forex and CFD broker that offers a wide range of products and services, including a variety of account types, competitive spreads, and no dealing desk execution. The company also offers a limited amount of educational resources, including webinars, articles, and video tutorials. However, T&P Group's regulation was revoked by the FSPR in 2022, and the company's customer support is limited to email and phone. Overall, T&P Group is a decent forex and CFD broker with some advantages and disadvantages.

FAQs

Q: What are the spreads offered by T&P Group？

A: T&P Group offers variable spreads. The spreads on the Standard account start at 1.5 pips for EUR/USD. The spreads on the ECN account start at 0.5 pips for EUR/USD. The spreads on the Islamic account start at 1.5 pips for EUR/USD.

Q: Does T&P Group charge commissions？

A: No, T&P Group does not charge commissions on any of its account types.

Q: What is the maximum leverage offered by T&P Group？

A: T&P Group offers a maximum leverage of 1:30 for all account types.

Q: What payment methods does T&P Group accept？

A: T&P Group accepts a variety of payment methods for depositing and withdrawing funds, including credit cards, debit cards, bank transfers, and e-wallets.

Q: What are the fees for withdrawing funds from T&P Group？

A: There is a fee for withdrawing funds from T&P Group accounts. The withdrawal fee varies depending on the payment method used.

Q: What is customer support offered by T&P Group？

A: T&P Group offers customer support in multiple languages, including English, Chinese, Indonesian, and Malay. Customers can contact T&P Group support through email, phone, or live chat.

Q: Does T&P Group offer educational resources？

A: T&P Group offers a limited amount of educational resources, including webinars, articles, and video tutorials.