Tallinex Review 2020

Tallinex is a forex broker with a limited offering for traders. They do have the popular and powerful MetaTrader 4 (MT4) trading platform but the brokers regulation is not what many experts would consider ideal. Despite the account types being flexible, there are no educational resources to assist traders and the account funding options are very limited.

Tallinex Review 2020, Pros & Cons
  • MetaTrader 4 for desktop, web & mobile devices
  • Flexible account types
  • Regulation
  • Limited trading instruments
  • No educational materials
  • Limited account funding methods
  • No market analysis or standalone trading tools
  • No clients accepted from the US & some other countries

In this detailed Tallinex review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

Tallinex is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Tallinex.

Tallinex Review: Summary

Founded in 2014, Tallinex is a broker that offers forex trading online via the MetaTrader platforms. The broker utilises ECN and STP technology, transmitting trades via large banks through a PrimeXM FX bridge to Integral’s FX Grid system, which is optimised for forex trading.

Tallinex Review: Broker Liquidity Providers

Tallinex Review: Broker Liquidity Providers

Tallinex have raw spreads that start from 0 pips with real-time market and price feeds from FSA regulated banks. Leverage of up to 1:1000 is available and they claim to have over $10 billion in monthly trading volume. There are absolutely no restrictions on trading strategies, scalping strategies, hedging and automated trading systems (EAs) are allowed. Tallinex state that they are not a market maker which means that all trades are ECN/STP (placed into the market). Tallinex clients are A-book clients, not B-book (where the broker trades against their own clients).

Tallinex Review: Regulation

Tallinex operates under St Vincent and the Grenadines jurisdiction with funds segregated in large, regulated international banks. The Financial Services Authority (FSA) in St Vincent and the Grenadines is responsible for ensuring that Tallinex complies with its obligations under the IBC Act. Many experts would not consider this regulation to be as attractive as regulation from the FCA, CySEC or ASIC.

Tallinex keeps un-margined client funds separated from company funds in segregated, “off-balance-sheet” accounts at a large, conservative European bank. Tallinex is unable to use client funds for company expenses.

Tallinex Review: Countries

Tallinex does not operate within the United States of America or Canada, nor does it solicit residents of those countries, nor of Puerto Rico, Guam, American Samoa, Northern Mariana Islands, Virgin Islands (US), United States Minor Outlying Islands, Finland, Estonia or St Vincent and The Grenadines in relation to the provision of retail Forex services.

Some Tallinex broker features and products mentioned within this Tallinex review may not be available to traders from specific countries due to legal restrictions.

Tallinex Review: Trading Platforms

MetaTrader 4

Tallinex provides the MetaTrader 4 (MT4) trading platform developed by MetaQuotes and available in 32 languages. The platforms technical analysis tools help with the anticipation of currency fluctuations and tracking of real-time trading. MT4 is perhaps the most popular trading platform used by millions of traders all over the globe.

The platform is available as a desktop application or can run directly in most modern web browsers without needing to download or install any additional software. There is also an MT4 trading app that runs on iOS and Android devices. This is useful for those who need to manage their account and trade whilst on the go from anywhere in the world provided that they have an internet connection.

The key features of the MT4 platform include:

  • Real time bid/ask price quotes in the market watch window
  • Multiple chart types
  • Multiple time frames
  • Multiple order types
  • Technical indicators for chart analysis
  • Automated trading with expert advisors (EAs)
  • Strategy tester for back testing EAs
  • MQL editor to create custom indicators, scripts & EAs
  • MQL community where you can share ideas and tools with other traders
  • Alert notifications via SMS, email & platform pop-ups

Tallinex Review: Trading Tools

Tallinex do not offer any additional trading tools. There are no trading calculators, sentiment tools, economic calendar, etc. This is disappointing although the provided MT4 platform does have a vast array of built in tools which should satisfy the majority of retail traders needs.

Tallinex Review: Education

Unfortunately, Tallinex do not offer traders any educational materials. There are no tutorial videos, no trading guides, no webinars or seminars, etc. This is very disappointing as most online brokerages will offer clients some form of educational resources to help them improve their trading skills and knowledge.

Tallinex Review: Trading Instruments

Tallinex offer a limited range of trading instrument including a modest selection of minor, exotic and major forex currency pairs. There are other online brokerages who have thousands of trading instruments across multiple asset classes.

Tallinex Review: Trading Accounts & Fees

Tallinex have a modest choice of trading accounts for different trader needs. You need to pay a spread, commission and swap fee. The minimum deposit to open an account is just $100. The smallest trade size is 0.01 lots for ECN-MICRO accounts and 0.10 lots for ECN-PRO accounts. The maximum leverage is 1:1000 for ECN-MICRO accounts and 1:500 for ECN-PRO accounts. The average EURUSD spread is just 0.5 pips (varying nominally between 0.0 and 1.0, depending on time of day and market conditions) which is quite high when compared to some of the best online brokers. ECN-PRO account commission is US$3.00 per $100,000 per side i.e. US$6.00 per lot ($100,000) round-turn.

Tallinex Review: Broker Account Options

Tallinex Review: Broker Account Options

You can have any number of additional accounts without needing to submit another application. Simply submit a general request via your back-office account, or e-mail Tallinex with your Profile ID (user name) and request a new account.

As broker fees can vary and change, there may be additional fees that are not listed in this Tallinex review. It is imperative to ensure that you check and understand all of the latest information before you open a Tallinex broker account for online trading.

ECN Micro

The Tallinex ECN-MICRO account type is designed for traders new to the Forex market, and those needing to trade smaller volumes.

  • Variable spreads starting from 1.8 pips for EURUSD
  • Average EURUSD spread is 2.5 pips
  • Commission-free trades
  • Leverage from 1:1 up to 1:1000
  • Minimum trade size is 0.01 lots (1,000)
  • Minimum increment is 0.01 lots (1,000)
  • Minimum account opening deposit is US$ 100 / EUR 100
  • No dealing desk intervention
  • Margin call / Stop-out levels: 150% / 100%
  • No re-quotes
  • Hedging allowed
  • True ECN – liquidity provided by Integral via a Prime XM bridge

ECN Pro

The Tallinex ECN-PRO, raw-spread account provides the ideal trading conditions for professional and institutional traders alike.

  • Variable spreads starting from 0.0 pips for EURUSD
  • Average EURUSD spread is 0.6 pips
  • ECN commission of $6 / 100,000 round turn
  • Leverage from 1:1 up to 1:500
  • Minimum trade size is 0.10 lots (10,000)
  • Minimum increment is 0.01 lots (1,000)
  • Minimum account opening deposit is US$ 2,000 / EUR 2,000
  • No dealing desk intervention
  • Margin call / Stop out levels: 150% / 100%
  • No re-quotes
  • Hedging allowed
  • Pricing to 5 decimals
  • True ECN – liquidity provided by Integral via a Prime XM bridge

PRO-MANAGED

PRO-MANAGED accounts are designed for Tallinex clients who want to take advantage of the potential the Forex market offers, but do not have the time or the desire needed to master the currency markets.

The Percent Allocation Management Module (PAMM) is a technical solution provided to Tallinex clients and allows them to have their accounts managed by a trader appointed by them on the basis of a limited trading power of attorney. Tallinex’s PAMM system provides Money Managers with the ability to trade your account, but without having (or needing) direct access to it. As the account owner, you will view-access to your account, allowing you to monitor trades as they happen, and review historical account activity.

You can therefore assign your fund to be invested as a managed account with the Money Manager of your choice, secure in the knowledge that only you, the account owner, may withdraw funds. Think of it as auto-trading by Money Managers, with results audited by Tallinex.

The PAMM solution allows the trader to simultaneously manage unlimited numbers of managed accounts from a single, virtual “master” trading account. The balance of the master account reflects the total of all managed accounts and trades are allocated to each managed account based on the ratio specified by the trader. This is most often based on the size of each managed account deposit but the total sum of all allocation ratios for a PAMM account is always equal to 100%.

The broker has a flexible compensation structure that awards managers through a selectable combination of management fee, performance fee, additional spread and/or instantly-paid volume-based commission. It should be noted that past performance of account is by no means a guarantee of future results. At this time there is an extremely redundant selection of PAMMs to choose from at Tallinex.

  • ECN-MICRO and ECN-PRO managed accounts available
  • Variable spreads starting from 0.0 pips for EURUSD
  • Average EURUSD spread is 0.5 pips
  • Leverage from 1:1 up to 1:500
  • Minimum trade size is 0.01 lots
  • No dealing desk intervention
  • Margin call / Stop-out levels: 150% / 100%
  • No re-quotes
  • Hedging allowed
  • Pricing to 5 decimals
  • 100% bonus for all deposits
  • True ECN – liquidity provided by Integral via a Prime XM bridge

Demo Accounts

Demo accounts are available if you would like to try out the brokers services and platforms. They can also be a good way to practice your trading strategies using virtual funds. Active demo accounts never expire, but accounts that have been dormant for 30 days are automatically deleted. Demo accounts behave exactly like live accounts as they share the same specifications and price feeds. However, demo accounts do not usually have slippage that can occur on live accounts so this is worth considering when testing strategies that are sensitive to slippage.

Tallinex Review: Customer Service

Multi-lingual client support is available in English, Spanish and Russian. The support team can be reached via telephone, email or online chat. You can also submit a support ticket with any general, technical or account related questions that you may have.

Tallinex Review: Deposit & Withdrawal

Tallinex have a limited choice of methods for depositing and withdrawing funds from your trading account. They only offer bank wire or credit/debit card payments. It would be more beneficial if they could add online payment processors such as Neteller, PayPal and Skrill.

Some fees may be charged when using certain payment methods. Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.

You may need to verify your account to remove limits on particular methods in some countries. Tallinex strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your Tallinex trading account.

You can transfer funds between your own ECN-MICRO and ECN-PRO accounts at any time – there are no costs involved to do this. Transfers involving PRO-MANAGED accounts are also possible, but certain temporary restrictions may apply.

Accounts can be opened in EUR, USD. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.

Tallinex Review: Account Opening

There is an online application to apply for a Tallinex brokerage account. Approval time depends on how quickly the required documents are submitted. If all required documentation is submitted along with your application, then your account could be approved in one business day or less.

Tallinex Review: Account Application Form

Tallinex Review: Account Application Form

Tallinex Review: Conclusion

Tallinex is an extremely limited forex broker. They have a very basic offering that includes the user friendly MT4 trading platform and a small selection of forex currency pairs. To be fair the account types are flexible although the PAMM accounts do not seem to be very popular.

However, there are no educational materials to support traders, no social trading platforms and the funding options are limited. Regulation is also not what many professional traders would consider to be ideal. We believe there are far better options to consider. You can look at our best trading brokers if you would like to see some alternative online brokers.

Tallinex warns that trading foreign exchange and futures on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you, as well as to your advantage. Before deciding to invest in foreign exchange or futures, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange and futures trading, and consult with an independent financial advisor if you have any doubts.

Min $100 Deposit

Tallinex is a forex broker with a limited offering. They do have the MT4 platform but the brokers regulation is not ideal. Whilst account types are flexible, there are no educational resources & limited funding options.