
Tifia Review
Overall, Tifia is one of the best Nigerian-based CFD and Forex brokers. Tifia offers local Nigerian-based support, comprehensive trading solutions, and a choice between powerful trading platforms. Tifia is currently not regulated by the CBN.

- Louis Schoeman
Updated : March 27, 2023
Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Trading Platforms

Range of Markets

Fees

Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons

FAQ
Min Deposit
USD 10 / 4146 NGN
Regulators
FSC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
60+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Tifia At a Glance
🏛️ Headquartered | The Republic of Vanuatu |
🏛️ Nigerian Based Office | No |
👍 Accepts Nigerian Traders? | Yes |
📅 Year Founded | 2011 |
📱 Nigerian Office Contact Number | WhatsApp – 08092883467 |
⚖️ Regulation | The Vanuatu Financial Services Commission (VFSC), The Financial Services Commission in Mauritius (FSC) |
🔎 License Number | 40209 FSC Regulation |
⚖️ CBN Regulation | No |
✴️ Regional Restrictions | United States, Vanuatu, Japan, Canada, Israel, Belgium, and Mauritius, among others |
📱App | Yes, on iOS and Android |
☪️ Islamic Account | Yes |
📈 Demo Account | Yes |
📈 Retail Investor Accounts | 3 |
🚀 Offers a Nigerian Account? | Yes |
💻 Dedicated Nigerian Account Manager? | No |
📈 Maximum Leverage | 1:1000 |
📈 Leverage Restrictions for Nigeria? | None |
💳 Minimum Deposit (₦) | 4,100 Nigerian Naira or an equivalent to $10 |
💳 Nigerian Naira Deposits Allowed? | Yes |
💰 Active Nigerian Trader Stats | 1.3 million |
💰 Nigeria Daily Forex Turnover | $1.25 million+ |
💳 Deposit Options | Bank Wire Transfer Credit Card Debit Card Skrill Perfect Money Fasapay Neteller Local Deposit Bitcoin Transfer |
💰 Segregated Accounts with Nigerian Banks? | Yes |
💻 Trading Platforms | MetaTrader 4 MetaTrader 5 Tifia Forex Analysis App |
💰 Tradable Assets | Forex Precious Metals Commodities Indices Stocks |
🌐 Offers USD/NGN currency pair? | No |
🌐 USD/NGN Average Spread | N/A |
⌛Withdraw Time | 24 – 36 hours on weekdays |
📈 Offers Nigerian Stocks and CFDs | No |
👨💼 Languages supported on Website | Spanish, Arabic, French, Indonesian, Malay, Portuguese, Thai, Vietnamese, Chinese |
👥 Customer Support Languages | Multilingual |
👥 Customer Service Hours | 24/5 |
👥 Nigerian-based customer support? | Yes, available on email, Skype, and WhatsApp |
💰 Bonuses and Promotions for Nigerians | Yes |
✴️ Education for Nigerian beginners | No |
📊 Proprietary trading software | Yes |
💰 Most Successful Nigerian Trader | Uche Paragon ($20 million net worth) |
✔️ Is Tifia a safe broker for Nigerians? | Yes |
✔️ Rating for Tifia Nigeria | 7/10 |
✔️ Trust score for Tifia Nigeria | 75% |
👉 Open an account | 👉 Open Account |
Tifia Review – 16 key points quick overview:
Tifia Overview
Tifia Regulation and Safety of Funds
Tifia Account Types and Features
- Tifia Account Registration
- Tifia Vs Exness VS Alpari – Broker Comparison
- Tifia Trading Platforms
- Tifia Range of Markets
- Broker Comparison for Range of Markets
- Tifia Trading and Non-Trading Fees
- Tifia Deposits and Withdrawals
- Tifia Education and Research
- Tifia Bonuses and Promotions
- Tifia Affiliate Program
- Verdict on Tifia
- Tifia Pros and Cons
- Frequently Asked Questions
Tifia Overview
👉 Forex and CFD broker Tifia provides a wide choice of financial products for trading online using MetaTrader 4/5 platforms for desktop, web, and mobile devices. The broker offers a wide range of account options, including ECN trading, which offers fast transaction execution, cheap costs, and low spreads.
👉 Tifia is not regulated by the Central Bank of Nigeria (CBN) and neither does the broker have a local office in the region. However, the broker accepts traders of all types from Nigeria, offering them comprehensive trading solutions.
👉 This Tifia review will provide traders with the details that they need to consider whether the broker is suited towards their unique trading objectives and needs.
Tifia Distribution of Traders
👉 There is not enough comprehensive data to determine what the global distribution of traders is for this broker. However, the broker accepts traders from around the world, except those in the United States of America, Canada, Israel, Belgium, Japan, Mauritius, and the Republic of Vanuatu
Popularity among traders who choose Tifia
🥇 Tifia accepts Nigerian traders even though it is not regulated by the CBN, which places the broker within the Top 100 brokers for Nigerian traders.
Tifia Regulation and Safety of Funds
Tifia is well-regulated by the following entities:
Tifia Markets Limited is regulated and authorized by the Financial Services Commission (FSC) in Mauritius under the MC name Credentia International Management Ltd. Tifia was approved in 2019 and its type of license is FS-41. as a Global Business Corporation and SEC-2.1B as an Investment Dealer, Full-Service Dealer without Underwriting.
Tifia Markets Limited is regulated by the Vanuatu Financial Services Commission (VFSC) under license number 40209. Tifia received approval in 2019 and its regulatory status is active and has been verified.
The Principal License authorizes Tifia Markets Limited to engage in a broad range of Broker/Dealer operations, including but not limited to trading in the following:
Foreign Exchange
Precious Metals
Commodities
Fund Management
Clearing
Primary Brokering, and other lawful activities.
According to the broker, all customer funds are held in separate bank accounts. Tifia should not utilize this money for internal purposes. Client money is separated in such a manner that it can be restored to traders if the broker becomes bankrupt.
Regulations reassure customers that they are dealing with a broker who must adhere to stringent laws and regulations designed to safeguard investors.
Tifia Account Types and Features
Tifia provides three distinct kinds of accounts. A trader may choose from a variety of account kinds based on his trading money, trading experience, and other desirable criteria. There are commission-free accounts in which expenses are incorporated in the spread, as well as commission-based accounts with narrower spreads.
A Start Account (Micro)
ECN Classic Account
ECN Pro Account
Live Trading Accounts
A Start Account (Micro)
This is the ideal account for beginner traders who are still learning about trading. In addition, it is also suited to traders who want to test their trading strategies.
✴️ Account Feature | ✴️ Value |
💳 Minimum Deposit Requirement | 4,100 NGN or an equivalent to $10 |
📈 Average Spreads | From 2.2 pips |
💻 Trading Platform | MetaTrader 4 |
💰 Account Base Currency | USD, EUR, NGN |
⌛ Commissions, per round turn lot | None |
⌛ Execution Type | Market |
📊 Maximum Leverage | 1:1000 |
🌐 Maximum Lot Size | 10,000 |
🌐 Minimum Trade Size | 0.01 lots |
🌐 Maximum Trade Size | 100 lots |
🚀 Margin Call | 100% |
🚀 Stop-Out | 50% |
✴️ Requotes on Trades | None |
👉 Trade Rejection | None |
✔️ Islamic Account Offered? | Yes |
✔️ Demo Account Offered? | Yes |
✔️ Trading Strategies Allowed | Scalping, Expert Advisors, Hedging |
✔️ Bonuses offered? | Yes |
📊 Range of Markets offered on this account | 28 Forex Pairs 2 Precious Metals |
ECN Classic Account
The ECN Classic Account offers the best trading conditions for more experienced traders.
✴️ Account Feature | ✴️ Value |
💳 Minimum Deposit Requirement | 41,000 NGN or an equivalent to $100 |
📈 Average Spreads | From 1.1 pips |
💻 Trading Platform | MetaTrader 4 MetaTrader 5 |
💰 Account Base Currency | USD, EUR, NGN, PLN, GBP |
⌛ Commissions, per round turn lot | None |
⌛ Execution Type | Market |
📊 Maximum Leverage | 1:1000 |
🌐 Maximum Lot Size | 100,000 |
🌐 Minimum Trade Size | 0.01 lots |
🌐 Maximum Trade Size | 100 lots |
🚀 Margin Call | 100% |
🚀 Stop-Out | 50% |
✴️ Requotes on Trades | None |
👉 Trade Rejection | None |
✔️ Islamic Account Offered? | Yes |
✔️ Demo Account Offered? | Yes |
✔️ Trading Strategies Allowed | Scalping, Expert Advisors, Hedging |
✔️ Bonuses offered? | Yes |
📊 Range of Markets offered on this account | 34 Forex Pairs 4 Precious Metals 2 Commodities |
ECN Pro Account
The Professional Account caters for seasoned traders who trade high volumes frequently and who need additional benefits and features.
✴️ Account Feature | ✴️ Value |
💳 Minimum Deposit Requirement | 207,000 NGN or an equivalent to $500 |
📈 Average Spreads | From 0.0 pips |
💻 Trading Platform | MetaTrader 4 |
💰 Account Base Currency | USD, EUR, NGN, PLN, GBP |
⌛ Commissions, per round turn lot | $8 |
⌛ Execution Type | Market |
📊 Maximum Leverage | 1:500 |
🌐 Maximum Lot Size | 100,000 |
🌐 Minimum Trade Size | 0.01 lots |
🌐 Maximum Trade Size | 100 lots |
🚀 Margin Call | 100% |
🚀 Stop-Out | 50% |
✴️ Requotes on Trades | None |
👉 Trade Rejection | None |
✔️ Islamic Account Offered? | No |
✔️ Demo Account Offered? | Yes |
✔️ Trading Strategies Allowed | Scalping, Expert Advisors, Hedging |
✔️ Bonuses offered? | No |
📊 Range of Markets offered on this account | 50 Forex Pairs 6 Precious Metals 2 Commodities 10 Indices 53 Stocks |
Tifia Demo Account
A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital.
There is a certain degree of risk involved when trading financial markets and Tifia offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.
Tifia Islamic Account
Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.
This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.
Muslim Nigerian traders can convert the Start (Micro) Account and the ECN Classic Account into an Islamic Swap-Free account with Tifia, exempting them from overnight fees and swaps.
Tifia Account Registration
Opening a Tifia trading account is fast and simple.
How to Register an Account on Tifia
👉 Step 1 – Go to the Tifia Website
➡️ Go to the official Tifia website at www.Tifia.com – Click on “Open Account”.
👉 Step 2 – Fill Out Your Details
➡️ The trader can complete the form by entering their full name, nationality, phone number, and email address and clicking “Sign Up”.
👉 Step 3 – Your Account Is Now Active
➡️ Traders will then be instantly logged into the traders’ cabinet and be requested to provide a code word and choose an account type.
Tifia Vs Exness VS Alpari – Broker Comparison
Tifia | Exness | Alpari | |
⚖️ Regulation | VFSC, FSC | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA | FSC |
📱 Trading Platform | MetaTrader 4 MetaTrader 5 Tifia Forex Analysis App | MetaTrader 4 MetaTrader 5 | MetaTrader 4 MetaTrader 5 |
💰 Withdrawal Fee | Yes | No | Yes |
📊 Demo Account | Yes | Yes | Yes |
📈 Minimum Deposit | 4,100 NGN | 4,100 NGN | 1,000 NGN |
📈 Leverage | 1:1000 | Unlimited | Up to 1:1000 |
📊 Spread | From 0.0 pips | Variable, from 0.0 pips | From 0.4 pips |
💰 Commissions | $8 | From $0.1 per side, per lot | $1.5 |
✴️ Margin Call/Stop-Out | 100% | 60%/0% | 60% and 40% |
✴️ Order Execution | 50% | Market | Instant and Market |
💳 No-Deposit Bonus | Yes | No | No |
📊 Cent Accounts | Yes | Yes | No |
📈 Account Types | A Start Account (Micro) ECN Classic Account ECN Pro Accountt | Standard Account Standard Cent Account Raw Spread Account Zero Account Pro Account | Forex Standard Account (MT4) Forex Micro Account (MT4) Forex ECN Account (MT4/5) Forex Pro Account (MT4) |
⚖️ CBN Regulation | No | No | No |
💳 NGN Deposits | Yes | Yes | Yes |
📊 Nigerian Naira Account | Yes | No | Yes |
👥 Customer Service Hours | 24/5 | 24/7 | 24/5 |
📊 Retail Investor Accounts | 3 | 5 | 4 |
☪️ Islamic Account | Yes | Yes | Yes |
Tifia Trading Platforms
Tifia offers the following trading software that can be used to connect Nigerian traders to global financial markets:
MetaTrader 4
MetaTrader 5
Tifia Forex Analysis App
Desktop Platforms
MetaTrader 4
MetaTrader 5
A widely used trading platform, MetaTrader 4 (MT4) was developed by MetaQuotes Software and launched in 2005. Foreign exchange brokers, like Tifia, who provide the program to their customers, have a license to use it. Nigerian traders can download the desktop version of MT4 onto any computer that runs Windows, Linux, or macOS.
The MT5 platform is more powerful due to its expanded capabilities and features. For instance, it has 38 technical indicators rather than the 30 present in MT4. Additionally, it supports six different kinds of pending orders and up to 21 different periods for chart presentation.
Additionally, the MT5 platform facilitates the creation and deployment of expert advisors (EAs) that automate forex and CFD trading online.
WebTrader Platforms
MetaTrader 4
MetaTrader 5
Nigerian traders can also opt to use MetaTrader 4 on internet browsers with professional tools for online trading, such as sophisticated chart analysis, which are included in the MT4 platform. MT4 may be used on a variety of different platforms.
With several chart windows and completely adjustable layouts, it is easy to get up and running quickly. Trading instruments’ prices are shown in real time on the market watch. Line, bar, and candlestick charts are all accessible.
With the WebTrader, MetaTrader 5 allows traders to open to 100 charts concurrently. The charting system is equipped with a total of 21 periods. There are 80 analytical items and technical indicators pre-installed. 39 graphical items and 38 technical indicators are included.
It has four scale settings and a total of seventeen indication display layouts. These amazing tools for technical analysis can help traders properly prepare for different market conditions.
Trading App
MetaTrader 4
MetaTrader 5
Tifia Forex Analysis App
Tifia offers trading access through the MetaTrader 4 Windows desktop program, the online platform, and the MetaTrader 4 mobile applications. The MetaTrader 4 trading app is ideal for Nigerian traders who like to monitor markets and trade while on the go. It enables traders to trade from any location if they have a stable internet connection.
The comprehensive MetaTrader 5 trading app offers traders a range of core features that they can access on a mobile device that runs either Android or iOS. Traders have access to several charting capabilities, technical indicators, fundamental information, and more.
Lastly, the Tifia mobile app offers Nigerians the most popular types of analysis, the latest reviews, expert opinions, forecasts, and a wide range of other analytical materials that can help them improve and direct their trading decisions.
Min Deposit
USD 10 / 4146 NGN
Regulators
FSC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
60+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Tifia Range of Markets
The range of Markets that Nigerian traders can expect include:
Forex
Precious Metals
Commodities
Indices
Stocks
Broker Comparison for Range of Markets
Tifia | Exness | Alpari |
|
➡️️ Forex | Yes | Yes | Yes |
➡️️ Precious Metals | Yes | Yes | Yes |
➡️️ ETFs | No | No | No |
➡️️ CFDs | Yes | Yes | Yes |
➡️️ Indices | Yes | Yes | Yes |
➡️️ Stocks | Yes | Yes | Yes |
➡️️ Cryptocurrency | No | No | No |
➡️️ Options | No | No | No |
➡️️ Energies | No | Yes | No |
➡️️ Bonds | No | No | No |
Tifia Trading and Non-Trading Fees
Spreads
Traders can expect tight and competitive spreads with Tifia. Spreads are variable and they are determined by the account type traders use, the financial instrument that they trade, and live market conditions on the trading day. Some average spreads that traders can expect on EUR/USD are as follows:
A Start Account (Micro) – from 2.2 pips
ECN Classic Account – from 1.1 pips
ECN Pro Account – from 0.0 pips
Commissions
Tifia only charges commissions on the ECN Pro Account and traders can expect a commission fee of $8 per round turn lot when they trade using this account.
Overnight Fees, Rollovers, or Swaps
Overnight fees are charged when traders keep positions open for longer than 24 hours. These fees are determined by several factors including the position size, whether traders have a long or short position, the duration that traders keep the position open, and the financial instrument.
Traders can expect some of the following overnight fees:
EUR/USD – a long swap of -5.863 and a short swap of -0.19
GBP/USD – a long swap of -6.006 and a short swap of -5.0136
UKBrent – a long swap of -30 and a short swap of -7
USCrude – a long swap of -23 and a short swap of -6
XAG/USD – a long swap of -1.521 and a short swap of -0.4485
XAU/USD – a long swap of -5.06 and a short swap of -4.48
FTSE – a long swap of -3.599 and a short swap of -3.481
SPX – a long swap of -3.785 and a short swap of -3.425
Deposit and Withdrawal Fees
Bank Wire Transfer – a minimum of 35 USD or 30 EUR
Credit and Debit card – 0% + 4 USD or EUR
Skrill – 1%
Perfect Money – 0.50%
Fasapay – 0.50%
Neteller – 2%
Tifia Deposits and Withdrawals
Tifia offers the following deposit and withdrawal methods:
Bank Wire Transfer
Credit Card
Debit Card
Skrill
Perfect Money
Fasapay
Neteller
Local Deposit
Bitcoin Transfer
How to Deposit Funds with Tifia
👉 Step 1 – Log into your Client Cabinet
➡️ Traders must verify their trading accounts before they make a deposit. Traders must log into their Client Cabinet.
👉 Step 2 – Select deposit option
➡️ Select the option to deposit. To fund the trading account, Nigerian traders can utilize electronic payment systems.
Additionally, traders can utilize a bank transfer or a bank card to credit the trading account. In Nigeria, Malaysia, and Indonesia, a local deposit can be made via Tifia’s authorized agents.
How to Withdraw Funds with Tifia
👉 Step 1 – Log into your Client Cabinet
➡️ To submit a withdrawal request traders can log into their Client Cabinet and select the option to withdraw.
👉 Step 2 – Select withdrawal method
➡️ Traders can select their withdrawal method, enter the amount, and send the withdrawal request to Tifia’s relevant department through the website.
A withdrawal request is handled within two hours throughout the business day, provided that the trading account has adequate available money, and the profile is completely verified.
The maximum duration of time allowed to process a withdrawal request is three business days. Withdrawals made through a bank card or wire transfer take up to five banking business days to process.
Min Deposit
USD 10 / 4146 NGN
Regulators
FSC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
60+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Tifia Education and Research
Tifia does not offer any Educational Materials but provides the following Trading Tools and Research:
Financial Markets Analysis
Analytics from Claws & Horns
Trader’s Calculator
Economic Calendar
Tifia Bonuses and Promotions
Tifia offers the following bonuses and promotions:
A 100% Loyalty Program
A 30% deposit bonus
Forex Cashback initiative
Partner Promotions
Tifia Affiliate Program
Tifia offers a comprehensive affiliate program for Nigerians who want to earn up to $20 in commissions per lot traded by a referral. In addition, partners can also earn 10% from Sub-Introducing Brokers and affiliates have access to:
Unlimited commissions that can be earned
Access to a personal affiliate manager
Marketing tools
Deep affiliate statistics
Loyalty program
A regional representative
How to Sign Up for the Plus500 Affiliate Program
👉 Step 1 – Go to Tifia.com
➡️ Go to the official Tifia website at www.Tifia.com
👉 Step 2 – Go to Partnership in the Dropdown
➡️ Go to “Partnership” in the menu and click on “For partners”.
👉 Step 3 – Click on “Join Now”
➡️ Click on the “Join Now” button and fill out your details.
Verdict on Tifia
Tifia is a licensed FX and CFD broker with a strong reputation in the market. An ECN/STP model claims to provide executions at the best available pricing, with minimum slippage and narrow spreads. The broker adheres to its Anti-Money Laundering (AML) policy and protects client cash.
A wide range of trading methods, including hedging and scalping, are permitted (EAs). There are a variety of account kinds and financing alternatives available.
Claws & Horns-powered social trading and research on Tifia add value to the brokerage services already accessible. However, one drawback is that Tifia does not offer educational materials for beginner traders.
Tifia Pros and Cons
✔️ Pros | ❌ Cons |
Traders can choose between three account types | There are no educational materials offered |
There is an Islamic account offered to Muslim traders | There is a limited selection of tradable markets |
Nigerian traders can set Naira as their account base currency | Withdrawal fees are charged |
There are local deposits and withdrawal options given to Nigerian traders | The spreads are not the tightest |
There are no deposit fees charged | There are no individual stocks and crypto trading is not supported |
Commission-free trading is provided | |
There is comprehensive and quality analysis given through Claws and Horns | |
Social trading is supported and there is free VPS for traders |
Frequently Asked Questions
Which financial instruments can I trade with Tifia?
You can trade over 120 instruments across these asset classes:
- Forex
- Precious Metals
- Commodities
- Indices
- Stocks
Does Tifia offer leverage and what is the maximum ratio offered?
Yes, Tifia offers leverage up to a maximum of 1:1000.
Is Tifia regulated and by whom?
Yes, Tifia is well-regulated by the Vanuatu Financial Services Commission (VFSC), The Financial Services Commission in Mauritius (FSC).
What is the overall rating for Tifia out of 10?
The overall rating came out at 7/10.
Is Tifia suitable for beginner and professional traders?
Yes, Tifia accommodates both types of traders but does not offer education for beginners, which could mean that trading with this broker could be challenging for newbies.