TFI Markets
TFI Markets, better known as TFI, is a foreign exchange specialized company based in Europe. It provides Financial Services through its own treasury and access to the Foreign exchange market through the MetaTrader 4 online trading platform. TFI is considered one of the oldest currency brokers as it allowed retail and institutional clients to speculate on foreign currencies in what is known as "margin forex trading" as early as 1999; however, the regulatory status of the holding company became unclear as new legislation superseding the Exchange Control license came into effect. The company maintained communication with the Central Bank to RESOLVE the issue and at the same time took the decision to stop marketing and sales activities in its FX business till 2010.
Historical Timeline
- In August 1999, TFI pcl acquires Exchange Control License EC/B/2455 from CBC
- In October 1999, TFI Public Company Ltd is established
- In June 2006, TFI pcl introduced its foreign exchange trading platform under the brand name of TFIFX
- In August 2009, TFI pcl forms TFI Markets (a 100% wholly owned subsidiary entity)
- In April 2010, TFI Markets acquires license (117/10) from CySEC, registers TFIFX as a brand name and becomes MiFID compliant
- In December 2011, TFI Markets acquires license (115.1.2.13) as a payment Institution from the CBC
- In April 2012, TFI Markets registers "TFI Pay" and "TFI Hedge" as brand names
Regulatory information
After changes in European regulation in 2009 and 2010 that brought margin FX trading under the supervision of the CySEC, TFI pcl formed a 100% wholly owned subsidiary entity, TFI Markets Ltd (TFM). TFM was approved by the CySEC as a CIF in April 2010 (license no. 117/10), which complies with Markets in Financial INSTRUMENTS Directive (MiFID). TFIM started operations as a CIF on May 10, 2010 with a paid up capital of $5.000.000 offering the regulated services of receipt and transmission of orders (R&T), Dealing for Own account (DOA) and also acting as a Payment Institution for its institutional clients. TFI Markets Ltd is externally audited by Deloitte and internally by KPMG.
In the media
TFI Markets previous chairman Chris Pavlou has been featured in BBC’s foreign exchange documentary Billion Dollar Day in June 4, 1985 as Head of Treasury at Barclays in London. TFI analysts periodically publish Fundamental analysis & Technical analysis educational articles in FXstreet.