Question 1

Is Taurex safe to trade with?

Accepted Answer

Taurex is considered safe as it holds licenses from three regulatory bodies: the Financial Services Authority (FSA) of Seychelles (Tier-3), the Financial Conduct Authority (FCA) of the UK (Tier-1), and the Securities and Commodities Authority (SCA) of the UAE (Tier-2). Client funds are segregated, and the broker operates on a best execution basis, ensuring optimal pricing. Additionally, the UK entity offers negative balance protection, and the FSA-regulated entity provides a private indemnity insurance of up to $1 million.

Question 2

What are the trading fees and commissions at Taurex?

Accepted Answer

Taurex offers varied fee structures depending on the account type and asset. For Standard Zero and Pro Zero accounts, spreads are regular, and there are no commissions. The Raw account provides raw spreads from 0 pips but incurs a fixed commission of $4 per lot. While some of the lowest spreads in the industry are offered on Bitcoin and indices, forex spreads, crude oil spreads, and swap fees tend to be higher than average. Deposits are free, but withdrawals may incur a handling fee of up to 1%, plus potential third-party processing fees. An inactivity fee of $20 is charged monthly after 90 days of dormancy.

Question 3

How can I deposit and withdraw funds from my Taurex account?

Accepted Answer

Taurex supports various deposit methods including cryptocurrencies, wire transfers, Skrill, Neteller, credit/debit cards, Apple Pay, and Google Pay. All deposits are free of charge. For withdrawals, the same methods are available, but a handling fee of up to 1% may apply, in addition to potential third-party processing fees. Withdrawal processing times range from instant for e-wallets to up to 7 business days for bank transfers.

Question 4

Is this broker beginner-friendly?

Accepted Answer

Yes, Taurex is generally considered beginner-friendly due to several factors. It offers a low minimum deposit of $10, which reduces the barrier to entry. The broker provides a free demo account for practice with virtual money, mirroring Standard Zero account conditions. Taurex also offers high-quality educational content, reliable customer support available 24/5, and comprehensive market research tools, including insights from Acuity and Trading Central, to help new traders make informed decisions. While the educational scope is more introductory, the overall support and resources contribute to a supportive learning environment.

Question 5

What trading platforms does Taurex offer?

Accepted Answer

Taurex provides access to both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are widely recognized for their user-friendly interfaces, robust analytical tools, and support for automated trading via Expert Advisors (EAs). Additionally, Taurex offers its proprietary mobile trading app, which provides a streamlined interface, news screeners, and an economic calendar for trading on the go. For advanced users, FIX API solutions are available for Direct Market Access (DMA) and low-latency trading.

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