tixee Review

Trust

tixee’s Regulations

In our reviews, we examine the licences and regulations of each entity operated by a broker. This allows us to compare each entity’s different levels of protection. We rank licences by various regulatory bodies on a three-tier system, where tier-1 licensing indicates the highest level of regulation.

tixee operates three entities, and here is what we found concerning their licenses and regulations:

• GVD KORIMCY LTD is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 411/22. CySEC operates within the framework of the Markets in Financial Instruments Directive (MiFID II) framework of the EU, earning it a status as a tier-1 regulator.
• GVT KORIMZA (PTY) LTD is authorised and regulated by the Financial Sector Conduct Authority in South Africa (FSCA) under FSP number 49648. The FSCA is also a tier-2 regulator. The entity’s CIPC company number is 2017.257026/07.
• Pipbull Ltd is authorised and regulated by the Financial Services Authority in Seychelles (FSA) under license number SD061. The FSA ranks as a tier-3 regulator on our system.

We have summarised the most essential aspects of tixee’s entities in terms of regulation and safety in the table below:

Why Is It Important to Know Where Your Broker Is Regulated?

A broker may operate several entities, as is the case with tixee, registered in different parts of the world. Being licensed by different regulators means that each entity’s overall level of protection may differ.

Regulators may or may not require brokers to comply with certain procedures depending on how strict the local financial framework is. In some regions, the legal requirements for brokers may be pretty loose. That is why traders need to be aware of such regulatory discrepancies.

Here is a breakdown of the most important features traders need to look out for in a broker’s service in terms of safety and protection:

• Segregation of client funds. Most regulators require brokers to keep their clients’ funds in separate bank accounts from the ones they use for their capital to avoid accounting errors. All of tixee’s entities comply with this regulation.
• Negative balance protection. This mechanism protects traders from losing more capital than what they have deposited into their accounts. The broker may automatically close any losing trades that threaten the account margin. Negative balance protection is ensured by all three of tixee’s entities.

*Please note, according to tixee compliance, the broker doesn’t take clients from Europe. Clients of tixee’s other two entities are not liable for such protection. 

• Maximum Leverage. Trading with CFDs entails very high risk because of the leverage, which multiplies the profits generated by winning trades and losses incurred by failed ones. Hence, the bigger the leverage, the bigger the risk. Traders should always consider whether the leverage offered by their broker suits their goals and matches their means.

Is Tixee Safe To Trade With?

The broker’s two entities – GVT Korimza (PTY) Ltd and Pipbull Ltd – are authorised by tier-2 and tier-3 regulators, respectively. This entails progressively looser regulatory oversight.

Stability and Transparency

In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focused on how long the broker has been in business, the size of the company, and how transparent they are in terms of information being readily available.

The company has been active for a little over one year, and it employs more than 100 people, according to its LinkedIn page. tixee’s ‘About Us’ section on the website is rather undetailed. It could be updated to include information regarding the management team and tixee’s goals and vision, which would add to the website’s overall transparency.

We also found information pertaining to some of tixee’s trading costs to be inconsistent. Traders browsing the website looking for information concerning tixee’s commissions will be left with the impression that the VIP account is the only one that has a 6$ commission per traded Lot.

However, in the Client Agreement, it is stated that there is a commission payable when trading CFDs on futures and shares. Since no further clarity is provided, it is unclear whether this applies to all account types or only to the VIP account.

On the other hand, tixee’s licensing and regulation information is easily accessible, clear, and detailed. The company is upfront about the regulators who authorise it, its licences, and its office locations. All of this illustrates tixee’s high transparency concerning its legal information.

In summary, our findings indicate that tixee can be regarded as having a good level of trust and stability due to the following factors:

• One of its entities is licensed by a top-tier regulator (CySEC) and the other by a tier-2 regulator (FSCA).
• Legal information is clear and easily accessible on the website
• Has negative balance protection and segregation of client funds.

Fees

tixee’s spreads are widely diverging from one asset class to another; some are competitive, whereas others are above the industry average. tixee’s overnight rates are also quite high.

As regards the non-trading costs, Tixee does not charge anything on deposits and withdrawals, though third-party fees may apply.

There is also an inactivity fee of up to $10 on accounts that have been dormant for more than 12 months.

tixee Trading Fees

tixee Spreads

We tested the spreads on a tixee Standard Account during the London open at 8am UK time and just after the U.S. open at 2.45pm UK time. These are the most actively traded times. The test was conducted on the 23^rd of May 2022.

tixee’s spread rates vary greatly across instruments from different asset classes. The most competitive quotes can be found on gold and GBPJPY, which may be to the liking of niche traders who typically follow one or two instruments. On the other hand, shares and indices appear to be quite expensive.

It is also interesting to point out that tixee’s spreads tend to remain more or less the same throughout the day. This underscores stable and constant liquidity, which is beneficial to traders as it mitigates the risk of slippage.

Tixee’s Swap Rates

A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

The values listed below are for one full contract (100,000 units) of the base currency.

tixee Non-Trading Fees

The broker charges an inactivity fee of up to $10 for all accounts on which no trading orders have been placed for a period of 12 months or longer. On the other hand, there are no fees for deposits and withdrawals.

Are tixee’s Fees Competitive?

Overall, the competitiveness of tixee’s fees stacks below the industry average. However, this is not the case when trading with specific instruments, such as FX pairs and some metals. We found tixee’s spreads on those to be quite low.

The competitiveness of tixee’s fees depends on the current state of the market. Because the broker obtains its liquidity from external providers, such as banks and financial institutions, its spreads and swaps are bound to fluctuate. And at times when the general market uncertainty is elevated, and volatility is heightened, tixee’s costs are also likely to rise.

Platforms and Tools

tixee allows traders the freedom to choose the platform that best fits their trading styles and matches their needs. MT5 has an easy-to-navigate interface with multiple indicators and tools, and it is a worthy successor to MT4, which remains the most popular platform to this day.

For our review, we chose to examine tixee’s WebTrader platform, which has several advantages over the other two alternatives. However, it should be mentioned that people interested in copy trading and automated trading can access those options only through MT4 or MT5.

Since the custom-built WebTrader platform is only available on desktop devices, we evaluated the mobile version of tixee’s MT4 app. It also has a fair amount of tools and indicators, though not as many as the desktop version.

tixee’s Webtrader Platform

General Ease of Use

The platform’s design is pretty common in the industry, meaning that traders should get used to it quickly and without much difficulty. There is a watch list on the left-hand side, and traders can populate it with their favourite trading instruments.

They can find vital information, such as account balance, free margin, and so on, on the top of the screen. Then there is the chart situated in the middle and the one-click execution button at the bottom.

What we found particularly useful is the market hours tool positioned at the very bottom of the platform, outlining the overlappings of the Asian, European, and U.S. sessions. By showing the time remaining until the open/close of the next session, traders can make more informed decisions. They can decide when to join or exit the market based on anticipated upsurges and downsurges in trading activity.

Charts

The webtrader platform’s charts are fluid and can be populated with multiple indicators. At the same time, the price action does not get obscured easily with each additional indicator.

Here is a list of the essential tools and features of the chart:

• Trading indicators. tixee’s platform has a wide variety of indicators, currently at 116. These consist of oscillators, stochastics, trend and range-based indicators, moving averages, etc. These can be used to study a particular aspect of the price action, thereby affording traders a great degree of flexibility to conduct probing technical analyses.
• Drawing tools. The platform also has 37 drawing tools that can be used to project periodically repeating patterns on the price action. This allows traders to forecast potential upcoming breakouts, breakdowns, and consolidations. Some of the more popular drawing tools incorporated include the Gartley pattern, Fibonacci retracement levels, and Elliott Wave cycles.
• Timeframes. The platform also has 9 different timeframes, and traders can examine the scalability of the price action from different perspectives. The timeframes range from 1 minute to 1 month.
• Chart types. The price action itself can be represented in 7 different ways: as a line, using candles, bars, volume candles, and more. The 9 timeframes and 7 chart types thus allow traders to examine the scope and nature of price action from multiple various angles.

Orders

tixee’s platform includes the most widely used and practical order types, such as:

• Market orders. The most popular of the bunch, market orders are used for immediate entry at the best possible price (the closest to the current spot level). They are used whenever traders need guaranteed volume execution, though there could likely be discrepancies between the desired execution price and the price level at which the order gets filled.
• Limit orders. Limit orders guarantee entry at a specific price level different from the current spot, though there are no guarantees that they will be filled. For instance, a trader might place a buy limit order 30 pips above the current EURUSD spot price. Unless the price action rises by 30 pips from the time the order was placed it will not get filled, and therefore no trade will be opened.
• Stop orders. Stop orders are commonly used to support an underlying position. They are placed at a specific level where, if reached by the price action, the stop order would transform into a market order, which gets filled at the best possible price. Notable examples include stop-loss and take-profit orders, which are placed at a distance from the initial entry price level. The former is used to limit the potential losses of a running trade, whereas the latter collects the running profits already generated by the trade at a specific level.

tixee’s MT4 Mobile App

We chose to review tixee’s MT4 app because of its popularity amongst traders. It contains some of the most essential trading features, making analysing price action on a small screen device a little less challenging. The mobile app is an invaluable asset whenever a trader has to manage his positions while on the go.

The mobile versions of MT4 and MT5 are available on Android and iOS from Google Play and the App Store, respectively. They run on smartphones and tablets.

We conducted our test on an Android device using Tixee’s MT4 app.

General Ease of Use

The app consists of 6 distinct categories: “Quotes”, “Charts”, “Trade”, “History”, “News”, and “Messages”. It is easy to navigate between the six and find your way around since the design of MT4’s structure is on such a high level. The most important task of a trading app is to afford traders the possibility of making quick adjustments to their running positions when needed, and tixee’s MT4 delivers on this.

Charts

These are the essential tools and features of MT4’s mobile version:

• Chart types. Traders can choose how to represent the price action from 3 different options. Those include: as a bar chart, candlestick, or line.
• Indicators. Unlike the desktop version of Tixee’s webtrader platform, which incorporates 116 trading indicators, MT4’s mobile app has 30. Still, these are quite enough as trading apps, in general, are inherently unsuitable for studying price action.
• Drawing tools. The app has 24 distinct drawing tools, including the most popular ones, such as the Fibonacci expansion, retracement and channel, Elliot corrective and motive waves, Gann fans, and others.
• Timeframes. Traders can choose from 9 different timeframes.

Orders

Here is a list of the most important trading order types that are available on tixee’s MT4 app:

• Market orders. They guarantee immediate execution at the best possible price (around the current spot price). There could be a discrepancy between the requested price and the exact level where the order gets filled.
• Limit orders. A limit order guarantees precise execution at a specific price level, though it may not get filled if the price action does not reach this prespecified execution level.
• Stop orders. Stop orders are usually used to support a primary position. They are placed at a specific price level where, if reached, the stop order would transform into a market order. The market order then gets filled at the best possible price. Notable examples include stop-loss and take-profit orders.

Tradable Instruments

tixee’s available commodities and indices exceed the industry average, while the number of FX pairs and commodities is moderate. Given what we found concerning tixee’s diverging spreads, traders with different styles and account balances can choose which instruments to pick from the 238 available based on the associated costs and the time it takes them to execute an order.

For instance, intraday traders can take advantage of the wide range of available currency pairs to speculate with minor price fluctuations in the short term. Position and day traders, in contrast, can use tixee’s commodities and indices to construct complex positions aiming to catch much bigger price swings.

What are CFDs?

Traders use contracts for difference (CFDs) to speculate on the price of the underlying without physical delivery. In other words, you can trade with the price of gold, for instance, and profit as it rises and falls without having to buy or sell actual bars of gold. One of the biggest advantages of trading with CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price action of the underlying.

What Can You Trade With tixee?

You can choose from 238 tradable instruments from different asset classes on all tixee account types, including:

• 60 currency pairs
  • Majors, minors and exotic
• 10 commodities
  • Metals, agriculture and energy
• 146 stocks
  • HK, U.S. (Nasdaq)
• 10 indices
  • Major and minor
• 12 cryptocurrencies
  • Major and minor

More than half of tixee’s instruments are CFD stocks, the majority of which, however, have above-average spreads. There are many FX pairs and commodities with diverging spreads, affording beginners and small retail traders more flexibility. Meanwhile, less risk-averse traders and those with bigger account balances can exploit the 20 indices and cryptocurrencies.

Customer Support

tixee Customer Support Test

When we evaluate the feasibility of a broker’s customer support, we pay attention to the time it takes for a particular query to be resolved and whether the answer provided is informative and exhaustive.

We conducted our test on the 24th of May at 10 am CET by clicking on the live chat button that can be found on the bottom-right corner of the website. It should be mentioned that the live chat option is currently unavailable on tixee.eu (GVD Korimcy Ltd).

tixee can also be reached via the other two contact options. Traders can get in touch with tixee’s customer support by phone, email, or by requesting a call.

We got in touch with tixee on two separate occasions. The first time, we asked a fairly simple question regarding the availability of swap-free trading, also known as an Islamic account. Even though our question was answered almost instantaneously, no additional information was provided despite our request.

The second time we reached out to them was to inquire more about the inconsistency of information, as mentioned in the ‘Stability and Transparency’ portion of our review, pertaining to tixee’s costs. The agent seemed confused and aloof when we pushed for additional clarification. Eventually, he stopped responding altogether before a satisfactory answer was provided.

Deposit and Withdrawal

tixee Deposit Methods

tixee Withdrawal Methods

In addition to the deposit and withdrawal methods listed in the two tables above, there are 18 alternative options clients of the broker can choose from. You can see a complete list of the e-wallets available here. This vast array of deposit and withdrawal options is available to traders working with Pipbull Ltd and GVT Korimza (PTY) Ltd, the two entities based in Seychelles and South Africa.

Account Types and Terms

tixee has four main account types – “Standard”, “Premium”, “RAW”, and “VIP”. The first two offer commission-free trading and floating spreads, whereas the other two have fixed commissions per traded Lot and raw spreads starting from 0.0 pips. Another difference is the minimum deposit requirements, starting from $10 on a Standard account and reaching $20,000 on a VIP. 

Why Is Choosing the Right Account Type Important?

To be a consistently profitable trader is no simple task because there is no single path to success. There are all kinds of traders with drastically different styles needing an equally diverse set of tools at their disposal to succeed. It is thus vitally important to choose a type of account that best matches your short-term and long-term goals, as well as your financial means and expectations. 

When looking for the best option in terms of costs, traders often have to choose between accounts with low spreads but high commissions or accounts with no commissions but higher spreads. It is thus important to make certain considerations, such as how frequently you plan to place orders and with what volume.    

What Account Types Does tixee Offer?

All of tixee’s accounts accommodate swap-free trading (Islamic accounts). The Standard and Premium accounts have low barriers to entry and relatively low stop-out levels. The most apparent drawback of the former is that it does not include trading analyses and breakdowns by Trading Central.   

Regarding the other two account types – RAW and VIP – their most significant advantage is that both afford raw spreads starting from 0.0 pips. The latter also has a lower round turn commission at $5 per traded Lot. Its drawback, however, is the comparatively larger minimum deposit requirement.   

What is CFD Leverage? 

The leverage is the most significant determinant of market exposure when trading CFDs. It bolsters the account balance, allowing traders to execute bigger-sized positions. By leveraging your account balance, you gain additional market exposure that increases your profits from your winning positions and the losses you incur from your failed trades. 

tixee Account Opening Process

We have listed the steps necessary to take in order to set up and verify an account with tixee below:

• Step 1. On the website’s main page, click on the “Get Started” and fill your personal information.
• Step 2. Choose between requesting a call from customer support team and accessing your new account.  
• Step 3. Enter tixee’s dashboard and provide information regarding your employment history, estimated annual income, what is your trading experience, and others.  
• Step 4. Verify your account by uploading a photo of either a passport, ID card, or driving license. 
• Step 5. Provide a proof of your address by uploading photo of a document showing your billing address (bank statement, utility bill, or other). 

tixee’s Demo Accounts

You can open a demo account once you have set up a live account for yourself. The demo account serves as the broker’s business card; it shows its services to the client in a risk-free environment. Another advantage of the demo account is that traders can use it to test and tweak the parameters of their trading strategies.

tixee Supported Countries

tixee’s supported countries differ between its entities. tixee.com, which is managed by Pipbull Ltd and GVT Korimza (PTY) Ltd, does not accept clients from the EU, U.S., Seychelles, Canada, and North Korea.

tixee.eu, which is managed by GVD Korimcy Ltd, is meant to serve traders from the EU. However, at the time of our review, the entity was not accepting new clients.

Research

tixee’s various types of research materials help traders develop a balanced overview of the latest market developments, which is necessary in order to conduct probing fundamental analyses. This is made possible by Trading Central’s excellent content. tixee’s well-balanced assortment of research content makes it suitable for beginners and experienced traders alike.

Research Tools

tixee’s research content is separated into 6 distinct categories:

• Trading Central Analysis. This third-party content is available on your tixee dashboard and it can be fully integrated on MT5. Traders are provided with regular breakdowns of current trading opportunities. Those breakdowns examine the behaviour of the price action and underpin the most crucial support and resistance levels.
• Live Market Reports. This type of video content covers the New York Stock Exchange, focusing on the major market movers on a daily basis.
• Economic Calendar. The economic calendar represents a brief overview of the potentially most important trading events during the week, based on their anticipated impact.
• Financial Market News. Frequent and informative, tixee’s market breakdowns are very helpful. The news section is labelled “Newsfeed” on tixee.eu, though it is updated a lot less frequently. The last material there was posted nearly two months ago.
• Insights. The insights section consists of broad articles that focus on more general topics, such as “How to Trade Bitcoin”, “Is Social Trading the New Era of Trading”, and so on.
• Webinars. The most abstract of the bunch, tixee’s webinars delve deep into the peculiarities of niche trading topics. In conjunction with the insights, the webinars are intended to provide readers with a wider perspective on the intricacies of trading.

Education

The educational course can be accessed via the tixee dashboard, and it has three separate categories. These are “Basic Building Blocks”, “Interpreting Charts”, and “Trends & Key Levels”. Each category, in turn, consists of several topics in video format. Those are practical and easily digestible.

Most attention is paid to technical analysis and how to read price action, though no discussion is had of the peculiarities of the psychological and fundamental types of trading analysis.

We found the quizzes that follow each lesson particularly useful, allowing traders to revise what they have just read. tixee’s educational course is suitable for newbies and seasoned traders, however, it is not all-encompassing.

The Bottom Line

tixee was established a little over a year ago, making it a relative newcomer to the industry. In this short time, the broker has established three entities serving international traders. At the time of writing, the newest one – GVD Korimcy Ltd – has had its CySEC licence for only several months, and it is yet to start accepting new clients. This is expected to happen in August or September this year.

The broker excels in its highly instructive research materials that afford readers a 360-degree overview of the latest market developments. tixee also offers a decent amount of trading instruments and has a practical platform with an easy-to-use interface that is especially suited to cater to the needs of beginners. It also has diverse account types and a wide array of deposit and withdrawal methods.

As regards its drawbacks, one of tixee’s entities – GVT Korimza (PTY) Ltd – is licensed by a tier-3 offshore regulator. The broker’s trading costs also exceed the industry average, and the educational materials are narrowly focused solely on the technical side of trading.

On balance, there is still more to be desired from tixee. Yet, it certainly has a lot of potential for future growth.

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