Tadawul Forex Broker/Ecn

[marc walton]

A broker that is intriguing me at the moment is Tadawul FX.

Tadawul FX was founded by two business partners, one Swiss, one Swiss Lebanese (“Tadawul” is Arabic for “Trading”) in 2006. They set up in Switzerland but due to a change in law, relocated to Cyprus in 2008.

This broker is regulated in both Cyprus - Cyprus Securities and Exchange Commission and the UK - FSA Register

I wasn't sure how The FSA regulation would concern a company that continues to have an office in Switzerland and a head quarters in Limassol, the capital of Cyprus, but their representative tells me it is because Cyprus is now in the EEC

I am aware that Tadawul are listed in many places as an ECN, but I remain to be convinced of this, mainly due to the advertised slippage, but again their guy explained to me that orders do not go via a dealing desk & therefore it is not in their interests for you to lose.

The company offers a pretty comprehensive range of major, minor and exotic currencies, including spot trading of precious metal crosses.

Spreads are variable but low and no commissions are charged. There is a guaranteed slippage of 1-3 pips at times when liquidity is low. Their account opening procedures claim to be only 5 minutes once you have emailed copies of documentation- Dukascopy can take up to 10 weeks in my experience & they want to see originals!

Despite my initial reservations, some of my contacts in Forex have been using this broker for some time and are more than happy with their service. They also have a 4* rating on forexpeacearmy, which is VERY good for a forex broker

I have arranged with my partners The Aslan Group to offer rebates for both New Clients and Existing Clients of Tadawul Fx.

You may also download a free demo if you wish to test their platform.

If you are using this broker, please let me know what you think.

Below is a summary of their advertised services:

• Trade a large number of currencies, spot silver & Gold
• Variable spreads from 1 Pip
• No Commissions
• Minimum deposit $500
• Metatrader 4 & beta tester of metatrader 5

I look forward to hearing your feedback.

[capsmart]

Hi Marc
If they are ECN how do they make their profit if not from commissions?

[raa]

I have also noticed, unless you open a pro account with minimum half a mega, their spreads are not as low as some of competitors listed right at this very forum. Also I did not feel particularly excited to see PayPay deposit option, as it reminded me of some lower-grade brokers. I could be very wrong indeed.

[aprilsun91]

Generally, I consider TDFX to be a good broker. Thier service has been good and the staff very friendly. Opening of account is fast and withdrawals via TT is also great. Now they offer online deposits. They have grown and improved a lot since I first joined them.

[RobertR]

They advertise FIXED SPREDS No commisions either?They can not be ECN broker,if they are STP they can manipulate the price

[RobertR]

They advertise FIXED SPREADS No commisions? They can not be true ECN broker, if they are STP they still can manipulate the price.