TMi Markets Reneges on Withdrawals, Investor Complaints Go Unanswered for Two Months

Recently, investor Tomas filed a complaint with BrokersView against forex broker TMi Markets, alleging that the firm had persistently ignored his communication requests. It is reported that the platform and its account manager disregarded Tomas' messages and demands, failing to provide explanations for a disputed trade while revoking a previously approved withdrawal request.

Tomas stated he began trading with TMi Markets in October 2024, opening a silver account. However, he expressed dissatisfaction with the account manager assigned to him.

According to Tomas, his account held an open position with losses exceeding €20,000. The client believed the trading result lacked a factual basis, yet neither the broker nor his account manager provided explanations or assistance regarding his concerns.

The client stated that his manager neither responded to emails nor answered phone calls. After two months, the issue remained unresolved.

Consequently, Tomas submitted requests via the website and email to TMi Markets, demanding either the reassignment of a new account manager or the immediate termination of their contract with settlement of his account balance. However, these requests also went unanswered, which prompted him to express that he had “lost all confidence” in the partnership.

On June 20, Tomas requested a withdrawal of €16,106.86 from TMi Markets. The broker initially stated via email that the funds would be processed within one to two business days, but later inexplicably canceled the transaction. Additionally, the client reported that his access to the broker's website had been restricted.

TMi Markets first approved Tomas' withdrawal, then cancelled it

The BrokersView team has forwarded the client's complaint to TMi Markets, but as of this article's publication, the platform has yet to respond.

BrokersView reminds you

TMi Markets, a financial trading platform operated by EXO Broker AG, claims its financial certification issued by the “Agency for Regulation and Development of the Financial Market of Mwali, Comores Union,” also known as the Mohli International Services Authority (MISA). However, MISA's regulatory credentials are disputed.

In 2022, the Central Bank of the Comoros stated that MISA is a “fictitious” entity without authority to issue foreign exchange licenses.

The Central Bank of Comoros said the MISA is not a financial regulator

Furthermore, despite TMi Markets' claims of establishing offices in the UK and Germany, neither the UK Financial Conduct Authority (FCA) nor Germany's Federal Financial Supervisory Authority (BaFin) has issued financial licenses to this broker.

TMi Markets claims to have launched offices in several countries

TMi Markets is not regulated in the UK or Germany

Investors are advised to understand the risks to avoid unnecessary losses.