Tamam Brokerage Services is an online brokerage company registered in Saint Vincent and the Grenadines, established in 2022. Although the platform offers a variety of assets trading options through advanced tools like MetaTrader 5, including forex, precious metals, cryptocurrencies, and commodities, it lacks effective regulatory oversight, raising significant concerns about operational transparency and client funds' security. Investors need to exercise extreme caution and thoroughly assess potential risks when opting to use this platform.
Corporate Background of Tamam Brokerage:
Tamam Brokerage Services is officially called Tamam Brokerage Services, with its official website at https://www.tamambrokerage.com/. The domain was established on April 23, 2022, and is registered in Saint Vincent, with registration number 2144 LLC 2022, dated April 27, 2022. The company's registered address is Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent and the Grenadines.
Regulatory Information of Tamam Brokerage:
Tamam Brokerage Services operates without regulatory supervision, meaning its operations are not monitored or managed by any external agency. As a result, customers investing with this platform may face risks of misconduct or negligence and could find it challenging to seek compensation in case of complaints or losses.
Tamam Brokerage Account Registration Process:
To open an account with Tamam Brokerage Services, follow these steps:
- Visit the official Tamam Brokerage Services website through a web browser.
- Find and click the prominent "Register" button on the homepage or navigation menu.
- Fill out the registration form, ensuring you provide accurate personal details, including full name, email address, phone number, and residential address.
- Choose an appropriate account type based on your trading needs, such as TBS Standard, TBS Pro, or TBS Cent account.
- Upload the necessary identification documents, such as a government-issued ID or passport and proof of address, to verify your identity and residency.
- Carefully read and agree to the platform's terms and conditions, submit your application, and wait for processing and approval. Once approved, you will receive confirmation and credentials to access the trading platform.
Types of Accounts at Tamam Brokerage:
Tamam Brokerage Services offers three account types: Standard Account, Pro Account, and Cent Account.
Standard Account: This account requires a minimum deposit of $10, targeting beginner traders with limited funds. Despite offering spreads from 1 pip and leverage up to 1:1000, beginners may face substantial trading risks. While the platform claims zero commissions and provides deposit bonuses up to 100%, these incentives might obscure other potential costs.
Pro Account: This account demands a higher minimum deposit of $500, offering spreads from 0 pips and leverage up to 1:400, seemingly providing more competitive conditions for experienced traders. However, it charges a commission of $1.5 per lot, which could erode profits, increasing overall trading costs. Although this account type also offers deposit bonuses, traders should beware if these incentives can offset the high commissions' impact.
Cent Account: Similar to the Standard Account, this account requires a minimum deposit of $10, offering spreads from 1 pip and leverage up to 1:1000. Despite zero commissions and bonuses up to 100%, the high leverage and hidden costs might still pose significant financial risks for traders with limited funds.
Trading Software at Tamam Brokerage:
Tamam Brokerage Services employs the MetaTrader 5 (MT5) trading platform, compatible with desktop, smartphone, and web browsers. While the MT5 platform is widely acclaimed for its robust functionality and flexibility, allowing traders to manage their portfolios anytime and anywhere, potential risks persist, especially in an unregulated and opaque environment.
Although the platform's cross-device capabilities offer convenience, the absence of independent review and security validation may jeopardize user data and trading security. Traders should exercise caution when using an unregulated platform to avoid potential financial losses due to system or platform issues.
Trading Products at Tamam Brokerage:
Contracts for Difference (CFDs): Tamam Brokerage Services offers CFDs, allowing traders to speculate on price movements of various financial instruments without owning the underlying assets.
Stocks: The platform provides stock trading, covering shares of major companies worldwide, enabling traders to potentially profit from stock price fluctuations.
Indices: Tamam Brokerage Services offers index trading, involving a basket of stocks representing the overall performance of a specific market or industry.
Commodities: The platform's trading products include commodities such as oil, natural gas, and agricultural products, often used for hedging against inflation or achieving portfolio diversification.
Precious Metals: The platform offers precious metals trading, primarily including traditional safe-haven assets like gold and silver.
While these assets are generally considered safe investment options, the lack of regulation on Tamam Brokerage Services' platform makes it challenging to secure investors' funds.
Spreads, Leverage, and Commissions at Tamam Brokerage:
Leverage: Tamam Brokerage Services offers leverage up to 1:1000 for TBS Standard and TBS Cent accounts, and up to 1:400 for TBS Pro accounts, amplifying the risk of initial investments. Although such high leverage can lead to higher potential profits, it also increases the risk of significant capital losses, especially on an unregulated platform.
Spreads: The TBS Standard account features spreads starting from 1 pip, with no commissions, appearing attractive for traders seeking low trading costs.
Commission: The TBS Pro account offers spreads starting from 0 pips but charges a commission of up to $1.5 per lot.
The TBS Cent account is similar to the Standard account, with spreads starting from 1 pip and no commissions, but implicit costs and trading risks remain.
Overall, although Tamam Brokerage Services offers various trading products and account options, the lack of effective regulation may veil the potential risks and undisclosed costs during trading. Investors should remain highly vigilant when using this platform.
Deposit and Withdrawal Methods at Tamam Brokerage:
Tamam Brokerage Services provides several payment methods to meet different trading needs and preferences. These include credit/debit cards (coming soon), mobile payments, M-pesa, and cryptocurrencies. The platform sets different minimum deposit requirements for various account types. The minimum deposit for TBS Standard and TBS Cent accounts is only $10, offering opportunities for traders with limited funds or beginners to enter the market. In contrast, the minimum deposit for a TBS Pro account is $500. Unlike some brokerage firms, Tamam Brokerage Services does not charge fees for deposits or withdrawals, making it more competitive in terms of trading costs.
Customer Support at Tamam Brokerage:
Tamam Brokerage Services offers comprehensive customer support to assist traders with various issues. Customers can visit the office in Kampala, Uganda, located at 2nd floor, George Court, Hannington Road, Nakasero (office hours from 8 AM to 5 PM). Additionally, the company provides 24/7 phone support, and customers can call +256 783 880 269 or +256 753 244 147 for assistance. Traders can also contact the customer service team via email at info@tamambrokerage.com.
Conclusion:
Despite offering a diverse range of trading products and account types, as well as high leverage and low spreads attracting many traders, Tamam Brokerage Services' unregulated operating model presents substantial risks. Without external supervision, clients' funds and trading activities may face greater uncertainty and potential loss risks. Investors should act prudently and thoroughly consider all possible risks of using this platform. Currently, Tamam Brokerage is listed as “Non-Regulated” on TraderKnows.
