Question 1

Is tastyfx a safe and regulated forex broker for US traders?

Accepted Answer

tastyfx is a safe and regulated forex broker for US traders, holding licenses from top-tier regulatory bodies including the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). It is a subsidiary of IG Group, a publicly traded company with over 50 years of market history, adding to its financial stability and transparency. However, client funds at tastyfx are not segregated from the broker's operating funds as is common in US forex regulations, meaning in case of insolvency clients have only an unsecured claim against funds. Overall, its strong regulatory oversight and backing by an established financial group provide a trustworthy trading environment.

Question 2

What are the trading costs and fees at tastyfx for forex investors?

Accepted Answer

tastyfx offers highly competitive trading costs with a spread-based pricing model and no commissions. Spreads start as low as 0.8 pips on major pairs like EUR/USD. Swap fees are better than industry average, providing cost advantages for holding positions overnight. There are no inactivity or account maintenance fees. Additionally, high-volume traders can earn volume-based cash rebates of up to 15% of spreads, further reducing effective trading costs. A withdrawal fee of $15 applies for wire transfers, but deposits are free with fast processing times.

Question 3

What deposit and withdrawal methods does tastyfx support, and what are the related processing times and fees?

Accepted Answer

tastyfx supports deposits and withdrawals via debit cards (Visa, Mastercard), ACH bank transfers, wire transfers, and credit cards. Deposits incur no fees and are typically instant via debit card, 1 business day via wire transfer, and 3 business days via ACH. Withdrawals via debit cards and ACH take 2-5 business days with no fees, while wire transfer withdrawals take about 24 hours but incur a $15 fee. All funds generally must be returned to the original source. The withdrawal fee for wire transfers is standard but may affect net withdrawals.

Question 4

What trading platforms are available at tastyfx and which types of traders do they suit?

Accepted Answer

tastyfx offers a comprehensive suite of trading platforms suitable for both beginner and advanced traders. These include their proprietary tastyfx web platform and mobile app, both intuitive and rich with features such as client sentiment data, trading signals, customizable workspaces, and news feeds. They also provide industry-standard platforms MetaTrader 4 and 5, TradingView, and ProRealTime, which cater to professional traders needing advanced charting, automated trading, and algorithmic strategies. The proprietary platform is especially user-friendly for beginners, while the MetaTrader and ProRealTime platforms serve experienced and institutional traders well.

Question 5

Is tastyfx beginner-friendly, and what educational resources does it offer?

Accepted Answer

Yes, tastyfx is beginner-friendly. Its proprietary web and mobile platforms are intuitive and easy to navigate, making entry into forex trading accessible to new traders. The broker offers free demo accounts that simulate live market conditions, allowing beginners to practice risk-free. Educational resources include well-crafted introductory articles and short videos covering forex basics, order types, and trading costs. However, the educational content is somewhat limited compared to some competitors, lacking in advanced courses and webinars. Beginners may benefit from combining tastyfx's offerings with supplementary education from other sources.

Question 6

What account types and leverage does tastyfx offer to forex traders?

Accepted Answer

tastyfx offers a straightforward account structure focused on one main live account type complemented by a free demo account for practice. The account opening process is fully digital and user-friendly. Maximum leverage is capped at 1:50, consistent with US regulatory requirements. Margin requirements vary by currency pair, for example, 2% margin for EUR/USD equating to 1:50 leverage and 5% margin (1:20 leverage) for others like GBP/USD. High-volume traders can qualify for cash rebates through the volume-based rebate program. There are no multiple specialized account types, which simplifies choice but limits customization for specific trader needs.

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