Is TM Forex a Scam? Regulation Check 2026
We checked TM Forex's licence in the official FSA register. Here is what the public records say.
Verdict
TM Forex is NOT a scam. It holds FSA licence SD037, authorising it to offer trading services in Nigeria.
How to verify on the official register
| Regulator | FSA FSA Seychelles Financial Services Authority (FSA) |
| Licence Number | SD037 |
| Regulated Entity | TM Forex Group Ltd |
| Founded | 2013 |
What FSA regulation means
FSA-regulated brokers must keep client funds in segregated accounts, provide negative balance protection, and submit to independent audits. Clients can file complaints with FSA directly.
What FSA regulation means for your money
- Client funds held in segregated bank accounts, separate from TM Forex's own capital
- Negative balance protection — you cannot lose more than your deposit
- Right to file complaints directly with FSA if TM Forex fails to resolve your issue
- TM Forex submits to regular independent financial audits under FSA oversight
Frequently Asked Questions
Is TM Forex a scam or legitimate?
TM Forex is NOT a scam. It holds FSA licence number SD037. FSA is one of the world's most respected financial regulators. The licence is publicly verifiable in the FSA official register.
How do I check TM Forex's FSA licence?
Go to the official FSA website and use the public register search. Search for licence number SD037 or the entity name. The record will confirm TM Forex's authorisation status and the scope of its permissions.
Are my funds safe with TM Forex?
As an FSA-regulated broker, TM Forex must keep all client funds in segregated bank accounts, completely separate from company funds. This protects your deposits even if TM Forex encounters financial difficulties.
What protection do I have as a TM Forex client in Nigeria?
In Nigeria, TM Forex operates under FSA supervision. You are entitled to: segregated client funds, negative balance protection (you cannot lose more than you deposit), and the right to file complaints directly with FSA.
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