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Tallinex.com Review MT4 - MetaTrader Platform

Overall Rating: (3.615)
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Total Reviews: 16
Last Updated: 2015-01-25
Description:

Tallinex are online forex brokers. Tallinex offers the MT 4 and MetaTrader Mobile forex currency trading top platforms. Tallinex.com offers over 10 currency pairs for your personal investment and trading options.

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FPA Review Moderation Team, , USA

Rating: No Rating
Date of Post:2013-03-11
Review: We haven't tried a forex account with Tallinex.com. If you have opened a forex account with this broker, please leave a review here.

Paul Anumudu, Lekki Lagos, Nigeria

Rating:
Date of Post:2015-01-22
Review: I must confess that Tallinex is the BEST ECN broker with fast execution, deposit and withdrawal. Keep it up!

sbn, New Jersey, USA

Rating:
Date of Post:2014-09-16
Review: I have been doing trade with Tallinex.com for about 3 months. They said they have a stop out level of 150% Margin call and 100% stop out.

I made a deposit for a certain amount of money and they gave a 100% credit bonus. But after a while they dropped my credit bonus which made my account to go to around 250% margin level. Fortunately, i looked my account real quick, I escalated the issue with them and after a series of email exchanges, they told me it was automatically dropped and that my open positions were so negative and told to reduce number of positions.

I made some deposit and my account was ok until yesterday. They again dropped my credit bonus and said it is dropped automatically as my open positions are negative and equal to balance of my account and closed all my positions.

They provided bonus credit to improve Margin% and when i have positions in negative, they removed all the bonus and made my margin level to 100% and closed all my positions.

My question is, why to calculate Margin% based on Equity and remove credit whenever they want to reduce my Marin Level.

 
Comment: Added by Tallinex on 2015-01-13 09:29
  I would like to point out that we did not (and do not) remove credit bonus "whenever we want to".

As clearly stated on the FAQ page and also elsewhere on our website, credit bonus CANNOT BE USED TO FUND TRADING LOSSES.

That means floating losses on your account cannot exceed your account balance.

Unfortunately, your trading caused that situation to occur and so the credit bonus was removed to trigger an account stop-out.

As our FAQ page explains, the credit bonus effectively increases leverage and allows floating losses to almost reach the account balance before stop-out occurs because the margin on open positions is covered by the credit bonus. This is a significant improvement over the normal situation where your equity would need to support margin AND floating losses - in that case, your account would have stopped out far earlier than it did, so the credit bonus allowed you to stay in the game much longer.

Although we hate to see clients blow accounts, we do make the terms of our credit bonus clear, so it is unreasonable to suggest that Tallinex has done something unethical when the reality is that you traded poorly and simply failed to monitor your account properly.

SONNEN, Abuja, Nigeria

Rating:
Date of Post:2014-08-27
Review: I opened an account with them early 2014. The process was smooth. Opening and funding were smooth. As usual, withdrawal is the real deal after profits. I made withdrawal request late last week and the funds hit Nigeria this week already.

In closing; account opening, funds deposit and funds withdrawal is super with this broker. The funds withdrawal are paid to your bank account (which is great). I failed to mention, when you deposit $400, you get another $400 free credit that boosts your margin - in other words, you get 100% bonus without issues with maximum leverage 1:400.

I had fears when i joined them because i only used them because they (along with FX Choice broker) have Fapturbo2.1 EA pre-installed on their platform. Altogether, its a great experience!

Hope this helps guys, regards.

UJ Ruwanpathirana, Colombo, Sri Lanka

Rating:
Date of Post:2014-06-12
Review: Tallinex is a very bad choice for forex traders... I tried it with FAP turbo 2.0... and it did not work for me at all.. So i turned off the forex robot and tried to do trading manually. then as soon as i stopped FAP turbo, my already opened trades began to close for no reason. my account drained overnight. and i closed the remaining two trades and tried to withdraw remaining $9 in my account.. and unlike forex. com.. they process withdrawals only to bank accounts.. not back to my credit card. and obviously there are additional charges for that. and i have proof of this.
 
Comment: Added by Tallinex on 2015-01-13 09:40
  Many people trade the FAP Turbo robots with Tallinex - doing so was entirely your decision... as were the settings you chose to use.

To say that Tallinex is a bad broker simply because you used an EA and didn't put thought into the settings used, or because you traded poorly and your account encountered a margin call is ridiculous.

As for processing your withdrawal, our public and private funding pages both state CLEARLY that withdrawals are only available as wire transfers... and the fees for withdrawal are also clearly stated, so I'm not sure what benefit your "proof" is when all fees are openly stated. Although withdrawals to cards would be a nice option, our merchant services provider / acquiring bank does not permit it so our hands are tied.

We actually try to assist all clients but, if you choose to ignore clearly published information then we can hardly be held responsible.

MIKE SZLOVAK, LONG BEACH, USA

Rating:
Date of Post:2014-04-25
Review: I had account with Tallinex execution was OK, but platform froze up just happened when the market was moving, When I closed the account the charge me 3,5% wire fees,
 
Comment: Added by Tallinex on 2015-01-13 09:43
  Mike - the fees for withdrawals have always been clearly stated on the public and private withdrawal information pages so I don't understand how / why you would imply that the fee you were charged was somehow "unexpected".
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Steven Eruthiaraj, Kuala Lumpur, Malaysia

Rating:
Date of Post:2014-04-09
Review: i just joined tallinex weeks ago i find it very interesting very simple with many currency pairs ,overall the support representative are good but there are one or two bad once who make me feel irritated and one by the name of FM the worst i think he/she do not know his work , i was on the chat with him he did not answer my question and log off with this kind of staff tallinex will loses its reputation , but there are two chat representative i want re comment their initials are MK and TS they know their job and do everything they can to help and solve the problem , this are the staff who will bring success to tallinex cause i am with tallinex cause of them or i would have closed account with tallinex . that all for now i will update more after my withdrawal done .
 
Comment: Added by Tallinex on 2015-01-13 09:44
  Thanks for the kind comments!

Sandman, TX, USA

Rating:
Date of Post:2013-12-02
Review: Seems very good. Like Finfx used to be a few years ago before they became consumed by bureaucracy and red tape. Leverage is 200:1 which they assure me is 24X7, and with the 100% credit bonus should keep me out of the clutches of the margin man. Will update when I actually make a withdrawal, but account opening, funding and early trading experience with them are all 5*.
Previous complaints from others have all gone to the PAMM which is not a core brokerage function and not one I plan to use.
 
Comment: Added by Tallinex on 2015-01-13 09:46
  Sandman - Just to update things... our leverage on Micro accounts would have been 1:400 at the time you made your post, but 1:1000 is now available subject to review.

Bruce Crawford, , New Zealand

Rating:
Date of Post:2013-09-23
Review: I had a PAMM account with these guys and in 3 months they had blown the lot. Fortunatley only a small sum but I know of others who had between 5 and 35k and lost it all.Shocking trader and once your in these Pamm accounts you cant pull the plug as they have total control.Would never deal with this company ever again.
 
Comment: Added by Tallinex on 2015-01-13 09:59
  Bruce... first of all, the PAMM you chose to join was not managed by Tallinex - we only provided the infrastructure to your nominated trader.

The next point you fail to mention is that you were told before and after joining, and in no uncertain terms, that exiting from the PAMM service was only possible when there were no open trades on the account. The fact that your trader held positions open was out of our control as we were bound by the Limited Power of Attorney that you enacted with us.

I assure you that we were far more unhappy with the actions of your trader than even you, but were under written instruction from you not to interfere so our hands were tied.

Ultimately, if you make a decision and give a 3rd-party specific instructions to behave a particular way, you really can't blame that 3rd-party for doing what you told them to do when things don;t turn out to your advantage.

Lloyd Williams, New York, USA

Rating:
Date of Post:2013-09-23
Review: Great broker, true ECN with tight spreads even in fast markets. I have wired money out of my account and it hits state side in about 2 to 3 business days. If you can trade you will have the tools you need to make money with this firm.
 
Comment: Added by Tallinex on 2015-01-13 10:00
  And now even better spreads!
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