TADAWUL (tdfx) BROKER

sinbad · #1 01-08-2009, 08:24 AM

I attach an extract of conversation between a friend of mine and tdfx,what do you think???I would like to know if you allow scalping with EA with MT4 platform and your spreads varies at night hours?
[10.29] TADAWUL FX: the spreads remain the same the whole time.we alos accept EA and the company does not have a problem with scalping
[10.31] Ermete: OK thanks,I will go through your site and get the documentation ready,can I fax the documentation or you wanted by mail?
[10.36] TADAWUL FX: can i please have your name and email address so i can send them to you?
[12.56]
[12.57] TADAWUL FX: Hello, this is Thomas
[12.57] TADAWUL FX: how can I help you ? Hello, I understand that scalping with MT4 Expert Advisors is OK with you,in particula rI would like utilize fapturbo EA ,do you have other clients utilizing this EA?I have few friends here in .... that would be interested in opening an account with you.
[14.12] TADAWUL FX: Yes we have many clients using EA
[14.12] TADAWUL FX: I would greatly appreciate any clients you refer to us
[14.14] Ermete: Yes,are any of them utilizing this particular EA;fapturbo?
[14.14] TADAWUL FX: I do not know which EA people use
[14.15] TADAWUL FX: there is a wide range of different ones
[14.15] TADAWUL FX: people from different countries use different ones
[14.15] TADAWUL FX: we even have people that make EA's that test them on our platform
[14.18] Ermete: I am asking because you are not a Market maker but STP,so I guess MT4 platform works directly placing orders with banks... that is correct
[14.21] TADAWUL FX: positions are being automatically executed by the banks in order to cover the clients
[14.24] Ermete: thanks,I will download your demo acc/s and install my EA hope it will work..
[14.24] TADAWUL FX: if you need any assistanse do not hesitate to contact us
[14.25] Ermete: OK,I will thks
[14.25] TADAWUL FX: you are welcome

Albacino · #2 01-09-2009, 10:58 AM

I found this on the forex peace army website. Apparently it's a response from the ceo to comments made previously. By the way, I opened a demo with them and the e/g spread was at 3 yesterday during all market hours. He mentions here that the spreads are fixed. If so, I might open a live account with them.

Rating: No Rating
Date of Post: 2008-12-11
Review: Dear Michael,

I would like to reply to your comments on TADAWUL FX as I feel you have been misinformed. In order to verify that we do indeed have the appropriate Registration Licences from Switzerland, I urge you to check with the Swiss Embassy in Germany, who will confirm to you that we are Swiss Regulated.

Regarding our choice of expansion to Cyprus, as the SFDF decided that all brokers should have a banking licence, many of us were left with little choice as it is not feasible to deposit 20-30 million just to offer Foreign Exchange brokerage services. The fact that Cyprus is now also a member of the EU was a huge factor and also as the Middle East and other Arab countries are priority markets for us, it was an obvious choice. If you would like to examine the Cysec license we have applied for, which is quite robust, please feel free to view all the information and directives here: http://www.cysec.gov.cy.
I would invite you to try our services first before you judge us, as we pride ourselves on superior customer service. We appreciate that nowadays traders are not only looking for better spreads and conditions but also Service. Unlike some of our competitors, with TADAWUL FX the spread is always fixed, we guarantee your stop losses and you can take profit even during the current crazy financial crisis market. Regarding the withdrawal of funds, it takes 1 day if you send the withdrawal of funds before 2pm which is the cut off time for banking transfers from Switzerland. This means that everything can be verified.

You are correct in the fact that TADAWUL means Trading in Arabic. As many of our clients are in Arab countries, and we offer products tailored to their needs, this was a logical choice of company name for us.

Whilst we cannot please every forum visitor (or employee of other forex brokers) who likes to place misinformed commentary, we do of course welcome any constructive comments from our esteemed clients and they are invited to email us directly or call us to resolve any issues they may have. We are always happy to meet our clients in our offices both in Switzerland and Cyprus where we are registered. Michael - please do not hesitate to request a face to face meeting if you would like one.

Ramzi Chamat
CEO
Tadawul FX

alan · #3 01-09-2009, 10:28 PM

Hmm, interesting stuff, but to be honest I never heard of this brokerage firm. I presume they're popular in Arabic speaking countries as their CEO claims.

Personally I prefer to stick to brokers in the OECD countries (ie USA, UK, etc)

vicki1911 · #4 09-01-2009, 11:05 AM

I had fapturbo and Megadroid running live at the same time on three different platforms TadawulFX, MIG and AlpariUK. During that time, about two months, my TadawulFX account was consistently loosing money while both, MIG and AlpariUK, were making money. I have analyzed the losses on TadawulFX and have found an unbelievable amount of requotes which have consistently forced my two EAs into losses. I complained about that to TadawulFX and described my findings in detail. My complaints were completely ignored and I had to close my account with TadawulFX.
I have traded with six different MT4 brokers so far and can say that TadawulFX was the worst by far. Based on the above described experience I do not recommend TadawulFX and warn all potential customers to stay away.

Amita · #5 09-23-2009, 09:02 PM

I was thinking of opening an account with them, but they have high spreads for GBP/USD and EUR/USD .

admin · #6 09-24-2009, 01:02 AM

Try ATC brokers - I heard they have really low spreads typically. Bear in mind that this is not an endorsement as I have no first hand experience with them.