Tirom Funds Management has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I signed up with Tirom Funds Management through a financial advisor and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Fast deposits|Segregated accounts|Stable platform|Fast support response
Cons: No fractional shares|Currency conversion fee exists
Tirom Funds Management has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Economic calendar|Reliable uptime|Social trading features|Detailed reporting
Cons: Cannot customize dashboard fully
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Tirom Funds Management recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Multi-currency support|API access|Multiple order types
Cons: Account statements could be more detailed
Tried to withdraw my funds from Tirom Funds Management and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Lost entire investment|Reported to authorities|Unresponsive
I was about to invest with Tirom Funds Management but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Markets Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
Do not use Tirom Funds Management for anything serious. I used them since last summer for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Multiple order types|Clear documentation
Cons: Limited ETF selection
My card was charged twice by Tirom Funds Management on the same day. I had to dispute it with my bank. Tirom Funds Management then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Comprehensive tools|Multiple order types|Portfolio tracking tools
Cons: Help articles are sometimes vague|Limited social trading features
I referred a friend to Tirom Funds Management through a podcast recommendation. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Customizable dashboard|Automated trading options|Great customer service|Multi-currency support
Cons: Email notifications too frequent|Help articles are sometimes vague
I gave Tirom Funds Management a fair chance. After since the beginning of the year of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Good mobile app|Easy to use platform
Cons: Inactivity fee applies after 12 months|Research section could be deeper
The reporting at Tirom Funds Management is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: API access|Helpful community forum|Wide product range
Cons: Nothing significant