Verdict: the evidence does not support calling the entire TIOmarkets group a proven scam. It does support treating the broker with caution because the TIO name covers several legal entities, and the protections depend on which one accepts your account.
The main tiomarkets.com website identifies TIO Markets Ltd, an offshore company authorised by the Mwali International Services Authority (MISA) in Comoros. That is not the same level of protection as dealing with the UK entity, TIO Markets UK Limited, which is associated with FCA reference 488900.
There is also a genuine FCA warning to understand. It concerns tiomarkets-trading.com, a website the FCA describes as a clone impersonating the authorised UK firm. It does not say that TIO Markets UK Limited itself is the clone or a scam.
What is TIO Markets?
TIOmarkets is a multi-entity forex and CFD broker group. Its websites offer trading through MetaTrader 4 and MetaTrader 5, with account types including Standard, Raw and VIP Black.
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The important point for a prospective customer is that “TIO Markets” is not one legal entity with one regulatory status. The company says the contracting entity depends on the client’s country of residence and the services available in that region.
| Entity | Jurisdiction and status | What it means for clients |
|---|---|---|
| TIO Markets UK Limited | United Kingdom; FCA reference 488900 | UK regulatory framework. The company says eligible clients receive segregated funds and FSCS protection up to £85,000, subject to the product, service and applicable rules. |
| TIO Markets Ltd | Saint Vincent and the Grenadines; MISA authorisation T2023224 | The entity identified by the main tiomarkets.com website. It is an offshore operation and should not be treated as equivalent to FCA supervision. |
| Trade i.o Ltd | Seychelles; FSA authorisation SD167 | Used for some non-UK and non-EU clients, according to TIOmarkets. |
| TioMarkets CY Ltd | Cyprus; CySEC licence 429/23 | CySEC’s current register says the licence is “Under examination for voluntary renunciation of the authorisation.” |
The UK company, company number 06592025, is shown as active at Companies House. That confirms the existence of a UK company; it does not by itself prove that every website using the brand is connected to it, nor does Companies House verify the accuracy of information filed by companies.
Is TIO Markets regulated?
Some TIO Markets entities are associated with regulatory registrations, but the group is not uniformly FCA-regulated. You need to identify the legal entity in your account-opening documents before depositing money.
The FCA status and the clone warning
The FCA’s warning, first published on 28 September 2023, names TIO Market Trading / tiomarkets-trading.com. The regulator says this website is a clone firm with no connection to the genuine TIO Markets UK Limited.
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A free scan shows the junk files, broken settings and background clutter dragging Windows down - then fixes them in one click.Free scan · Windows 10 & 11The FCA gives the genuine firm’s details as:
- Name: TIO Markets UK Limited
- FRN: 488900
- Address: 8 Devonshire Square, London EC2M 4YJ
- Telephone: +44 20 3865 2275
- Website: www.tiomarkets.uk
This distinction matters. A website displaying the TIO name, FCA number or London address is not automatically genuine. Check the domain, telephone number and other details against the FCA’s Financial Services Register or Firm Checker. Do not rely on a link sent by a salesperson or an advert.
The CySEC claim needs qualification
TIOmarkets previously promoted TioMarkets CY Ltd as a CySEC-regulated company with licence 429/23. The current CySEC register lists that licence, dated 10 April 2023, but marks it “Under examination for voluntary renunciation of the authorisation.”
It is therefore inaccurate to describe TIOmarkets without qualification as a currently active CySEC-regulated broker. Anyone considering an EU account should check the current CySEC record and confirm which entity would be named in the client agreement.
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The offshore entity
The legal and privacy pages for the main website identify TIO Markets Ltd as an International Business Company registered in Saint Vincent and the Grenadines under number 24986 IBC 2018. The site states that it is authorised by MISA under licence T2023224.
That is a materially different regulatory position from the UK entity. An offshore authorisation does not automatically provide access to the Financial Ombudsman Service, FSCS compensation or the same leverage and conduct protections available under UK rules. TIOmarkets’ own entity information says that the offshore entity offers segregated client funds, but it does not say that FSCS protection applies to clients of TIO Markets Ltd.
What protection would a client receive?
Protection depends on the contracting entity, the service and the client’s eligibility. TIOmarkets says its UK entity provides segregated client money and FSCS protection of up to £85,000 per eligible client. The FCA cautions that being a customer of an authorised firm does not automatically guarantee FSCS or Financial Ombudsman protection for every product or service.
Do not assume that registering through a TIOmarkets-branded website gives you UK protection. Before funding an account, look for the exact company name in:
- The account-opening confirmation.
- The client agreement.
- The website’s footer and legal documents.
- The deposit and withdrawal instructions.
If those documents name TIO Markets Ltd rather than TIO Markets UK Limited, you should assess the account as an offshore account, regardless of how prominently the website displays UK-related information.
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The current account overview published by TIOmarkets lists the following headline terms:
| Account | Minimum deposit | Advertised minimum spread | Commission | Advertised leverage |
|---|---|---|---|---|
| Standard | USD 20 | 1.1 pips | $0 | Up to unlimited |
| Raw | USD 250 | 0.0 pips | $6 per lot | Up to 1:500 |
| VIP Black | USD 1,000 | 0.3 pips | $0 | Up to 1:500 |
These are advertised minimums, not guaranteed trading costs. Spreads are variable, and the site says other fees may apply. The unlimited-leverage feature is associated with the MT5 Standard account and is subject to the applicable entity and account conditions. High leverage can make a small account vulnerable to rapid losses; it is not a safety feature.
A significant fee-page inconsistency
TIOmarkets’ official pages do not currently present one consistent commission schedule. The account overview says Standard commission is $0 and Raw commission is $6 per lot. Its separate trading-fees page lists Nano at $0, Standard at $5, Raw at $2 and VIP Black at $0. That page also gives a Raw commission example of $6 per round-turn lot.
The overview does not show a Nano account, while the trading-fees page still does. This does not prove fraud, but it is a disclosure problem. Ask support for the commission, spread markup, swap and inactivity terms that apply to your exact account and legal entity, and save the answer before depositing.
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TIOmarkets says withdrawal requests are normally processed within a few hours to one business day. Delivery by the bank or payment provider can take from instantly to five business days. A request made outside business hours, on a weekend or on a public holiday may not be handled until the next business day.
Verification must be completed before a withdrawal can be processed. The broker says customers may deposit and trade during a 14-day verification grace period, but they cannot withdraw until verification is complete.
Other published conditions include:
- The initial deposit is generally returned to the original source as a refund.
- Profits may need to be sent by bank wire or another available method.
- Card withdrawals cannot exceed the amount originally deposited by card.
- Bank wires may incur a USD 25 fee in certain circumstances.
- Cards, e-wallets and mobile-money withdrawals may incur a 5% fee in stated circumstances.
- Fees may apply to low-value withdrawals, accounts with no trading activity or withdrawals below the applicable minimum.
- “Processed” means TIOmarkets has sent the payment through its network; it does not necessarily mean the bank has credited the money.
These rules create predictable disputes that are not, on their own, proof of a scam. Common examples include trying to withdraw before verification, requesting profits to a card, withdrawing without trading, using an unsupported payment method or expecting a payment provider to deliver funds immediately.
For cryptocurrency, check the network and destination address carefully. A transfer sent through the wrong network may be difficult or impossible to recover. Customer reviews can report allegations about such incidents, but they are not independent evidence of what happened in each case.
How to complain about TIO Markets
TIOmarkets’ published complaints procedure says to contact customer support first. If the issue remains unresolved, escalate it to the Complaints Department.
A formal complaint should include:
- Your full name and trading-account number.
- A clear description of the problem.
- Relevant dates, orders and transactions.
- The remedy you want.
- Supporting evidence such as statements, screenshots, emails and payment records.
The company says it will acknowledge a formal complaint within five business days and issue a written final decision within two months. Use the email address shown on the live complaints page rather than an address copied from an old review.
If you were dealing with the UK entity, check whether the service and product are eligible for escalation to the Financial Ombudsman Service. If you used an offshore entity or a clone website, UK complaint and compensation routes may not be available.
Which countries does TIOmarkets accept?
The broker’s help centre lists Belgium, the United States, North Korea, Afghanistan, Iran, Russia, Sudan, Syria, Palestine and other OFAC countries among its exclusions. The list may change without notice. A separate partner help page says TIO Markets UK Limited accepts only clients resident in the UK.
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1Fix the driver behind crashes, sound loss and screen glitches2Repair Windows errors before they cause bigger problems3Scan for outdated or missing drivers - takes under a minuteUS residents should therefore not assume that a TIOmarkets account is available simply because an online advertisement or affiliate page says otherwise.
How to check TIO Markets before depositing
- Identify the entity. Find the legal name, registration number and regulator in the client agreement, not just on the home page.
- Check the regulator independently. Type the regulator’s address into your browser and search its register. Do not use only a link supplied by a prospective broker.
- Match the domain. Be especially careful with hyphens, extra words and lookalike domains. The FCA warning specifically names tiomarkets-trading.com.
- Confirm protection. Ask whether your account qualifies for FSCS or ombudsman protection and request the answer in writing.
- Test the operational process. Complete verification before making a substantial deposit. Make a small deposit and understand the withdrawal route and fees.
- Reconcile costs. Obtain written confirmation of commission, spread, swaps, minimum withdrawals and payment charges because the broker’s public commission pages conflict.
- Keep records. Save the client agreement, account statements, payment receipts, support messages and withdrawal confirmations.
Final assessment: scam or legitimate broker?
The evidence supports describing TIOmarkets as a multi-entity broker group with genuine regulated and offshore operations—not as a regulator-confirmed scam, but also not as a uniformly FCA- or CySEC-protected broker.
The genuine UK company and its FCA reference are documented. The FCA warning relates to a separate clone website. At the same time, the main website identifies an offshore entity, the CySEC licence is under examination for voluntary renunciation, and the broker’s own fee pages contain conflicting information.
That makes entity verification the central issue. A UK resident who independently confirms TIO Markets UK Limited may be dealing with a different risk and protection profile from a customer onboarded by TIO Markets Ltd. If the entity, regulator, fees or withdrawal terms are unclear, do not deposit until the broker provides clear written answers.
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FAQ
Is TIO Markets a scam?
The available regulatory records do not prove that the entire TIOmarkets group is a scam. However, the group uses multiple entities, including an offshore company, and the FCA has warned about a separate clone website called tiomarkets-trading.com. Treat the exact legal entity and domain as decisive.
Is TIO Markets FCA-regulated?
TIO Markets UK Limited is associated with FCA reference 488900. The main tiomarkets.com website identifies TIO Markets Ltd, an offshore entity authorised by MISA in Comoros. Do not assume that a tiomarkets.com customer is contracting with the UK FCA entity.
Does TIO Markets have a CySEC licence?
TioMarkets CY Ltd appears on the CySEC register with licence 429/23, but the current status says “Under examination for voluntary renunciation of the authorisation.” The claim that TIOmarkets is simply CySEC-regulated is therefore incomplete and potentially outdated.
Does TIO Markets offer FSCS protection?
TIOmarkets says its UK entity offers FSCS protection up to £85,000 for eligible clients. Its published entity information does not state that this protection applies to clients of TIO Markets Ltd, the offshore entity used by the main website.
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How long do TIO Markets withdrawals take?
TIOmarkets says it normally processes requests within a few hours to one business day. Payment-provider or bank delivery can take from instantly to five business days. Verification must be completed before a withdrawal can be processed.
Are TIO Markets withdrawals free?
Not always. TIOmarkets publishes possible charges including a USD 25 bank-wire fee in certain circumstances and 5% fees for cards, e-wallets and mobile money in stated cases. Fees may also apply to low-value, inactive-account or below-minimum withdrawals.
What should I check before opening a TIO Markets account?
Check the contracting entity, regulator record, exact website domain, investor-protection eligibility, commission schedule and withdrawal rules. Complete verification, save the client agreement and ask for written clarification of any conflicting fee information before depositing a substantial amount.
The Bottom Line
Bottom line: TIO Markets is not established by the available evidence to be a group-wide scam. But it is not a single, uniformly protected broker either. Verify whether your account is with TIO Markets UK Limited, TIO Markets Ltd or another entity; avoid the FCA-flagged clone domain tiomarkets-trading.com; and treat the conflicting commission pages and offshore onboarding as reasons to proceed carefully.
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