Your capital is at risk.
Taurex Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $100
- MT4
- MT5
- FSA
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $100
- MT4
- MT5
- FSA
Our Evaluation of Taurex
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Taurex is a broker with higher-than-average risk and the TU Overall Score of 3.27 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Taurex clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Taurex offers cooperation on favorable terms. Users get convenient trading platforms, tight spreads, low commissions, and a wide variety of trading instruments. They can apply any lawful strategy and use leverage. Funds can be deposited and withdrawn using all standard methods for free. There are regional restrictions, and remember that Taurex is a CFD-only broker.
Brief Look at Taurex
Taurex is a CFD broker that offers over 500 instruments across Forex, shares, indices, precious metals, commodities, and cryptocurrencies. The company cooperates with top-tier liquidity providers and applies straight-through processing (STP). The minimum deposit is $100. Raw spreads are from 0 pips. The trading fee either doesn't apply or is $4 per lot. Demo accounts are free. Three types of real accounts differ in the minimum deposit, spreads, and trading fees. Leverage is up to 1:1000. There are no restrictions on trading strategies such as scalping, hedging, or trading on news events, plus advisors are allowed. The broker has good educational content and tools for technical and fundamental analyses. Trading is available on MetaTrader 4, MetaTrader 5. It is worth noting that the Zenfinex company has completed its rebranding over to Taurex, leaving Zenfinex as its B2B (business-to-business) brand.
- Demo accounts don’t require deposits, letting users learn the broker’s features and practice trading strategies without risks;
- Traders can select one of three real accounts according to their preferences and ambitions;
- 1:1000 leverage increases potential profits even with small capital;
- A large pool of CFDs across 6 asset classes enables clients to form diversified portfolios;
- Trading Central has several unique analytical tools;
- The broker offers partnership programs on individual terms for private individuals and legal entities;
- Tech support is available 24/5 through several communication channels.
- CFDs are the only type of financial instruments offered;
- The broker does not render services to residents of Belgium, Japan, Iran, and a few other countries.
TU Expert Advice
Financial expert and analyst at Traders Union
The company is registered in Seychelles and regulated by the Financial Services Authority of Seychelles (FSA). Taurex is a CFD broker, i.e., contracts for difference are the only trading instruments available. The company offers 6 asset classes, which are quite enough to achieve a wide range of strategic goals and form a diversified portfolio. Clients can use any earning style and method, including scalping, advisors, and algorithmic trading.
Demo accounts are free. There are three real account types – Standard Zero, Pro Zero, and Raw. Accounts differ in the minimum deposit, spreads, and trading fees. This is a typical approach that can hardly surprise anyone. Spreads start at 1.6 pips on Standard accounts; 1.2 pips on Pro; and 0.0 on Raw. There is no trading commission on Standard and Pro accounts, while on Raw accounts, it is $4 per lot. This is a market average and competitive rate. It should also be noted that the broker does not charge deposit or withdrawal fees. Traders can add or withdraw funds using bank accounts, cards, Skrill, Neteller, or Cryptos.
Taurex operates transparently, without any pitfalls or additional charges. It cooperates with top-tier liquidity providers and uses modern technologies that eliminate delays and ensure fast order execution, around 20-30 milliseconds.
Users trade through MT4 and MT5 which can be easily customized thanks to plugins. Trading Central grants access to basic and advanced analytical tools. Taurex offers good education for beginners, although its podcasts can be useful even for professionals. Unfortunately, the broker has serious regional restrictions. Overall, Taurex provides comfortable trading conditions that are equally favorable for traders with different experience and skills. TU recommends considering this broker.
Taurex Summary
Your capital is at risk. Your capital is at risk. 79.43% of retail investor accounts lose money when trading CFDs with this provider. Taurex and its affiliates do not target EU/EEA/UK clients. It is the user's responsibility to ensure that any use of the website or services adhere to local laws or regulations. Please be aware that you are able to receive investment services at your own exclusive initiative only, ensuring you fully understand all the risks involved.
| 💻 Trading platform: | MT4, MT5 |
|---|---|
| 📊 Accounts: | Demo, Standard Zero, Pro Zero, and Raw |
| 💰 Account currency: | GBP, EUR, and USD |
| 💵 Replenishment / Withdrawal: | Visa/Mastercard, bank transfers, and Skrill, Neteller, Cryptos |
| 🚀 Minimum deposit: | $100 |
| ⚖️ Leverage: | Up to 1:1000 |
| 💼 PAMM-accounts: | Yes |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | Variable from 0.0 pips |
| 🔧 Instruments: | CFDs on Forex, shares, indices, metals, commodities, and cryptocurrencies |
| 💹 Margin Call / Stop Out: | No information |
| 🏛 Liquidity provider: | No information |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market |
| ⭐ Trading features: | Free demo accounts; three real account types; low entry threshold; market average charges; no deposit or withdrawal fees; only CFDs on six asset classes are featured; no limits on strategies; high-quality analytics; and good education |
| 🎁 Contests and bonuses: | Rebates from TU |
Usually, if a broker offers several real accounts, minimum deposits on them differ. Taurex users who decide to open a Standard Zero account have to deposit at least $100. On Pro Zero and Raw accounts, the minimum amount is $500. Leverage is up to 1:1000 on all accounts and depends on the asset and the trader’s preferences, i.e., a client may not use leverage at all if he doesn’t want to. The broker’s technical support can be contacted by phone and email or through live chat. Operators respond around the clock, but only on weekdays.
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Trading Account Opening
To begin cooperating with the broker, register on its website and open an account. Registration requires you to provide and confirm your personal details. Then, make a deposit and install the MT4, MT5, or Taurex platform. TU experts have prepared the below step-by-step guide and describes the basic features of the user account.
Go to the broker’s website. In the top right corner, click “Open Account”.
Complete the Taurex sign up form. Choose an individual or corporate account type; enter your first and last names, email, country of residence, country code, and phone number; select a wallet currency; and create and confirm your password.
Include your registration address and postal code. Answer several additional questions. Enter your date of birth and nationality and select a preferred language.
Enter information about your bank and your bank account. Click “Next”.
Answer the questions regarding your employment and financial background. Click “Next”.
Answer the questions regarding your trading experience. Click “Next”.
Answer the questions regarding your investment experience. Click “Next”.
Read the agreement and accept all the terms and conditions by ticking them. Choose a secret question for password recovery. Click “Confirm” and follow the on-screen instructions to sign in to your user account.
Go to “Documents” > “My documents”. Upload scans/photos of the necessary documents and wait until verification is complete.
Go to “My accounts” > “Create new account” and follow the on-screen instructions to open a real Taurex account.
Go to “Transfers”. Add a deposit method and make a deposit. Once the funds are in your account, you can download a trading platform and start trading.
Sections and features of the Taurex user account:
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Dashboard. This is the main section where a trader can see aggregate information on his active accounts and trades.
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My accounts. Here, a client can open and close real accounts.
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Transfers. Here, a trader can deposit funds into an active account or file a withdrawal request.
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Documents. This section contains the broker’s documents and is used for verification.
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Profile. In this section, a trader can edit personal details and adjust security settings.
Regulation and safety
If you are planning to trade with a broker, you have to make sure you are not dealing with scammers. How to do it? Check the broker’s registration and regulation. Registration means the company operates legally, while regulation indicates the transparency of trading conditions. Taurex is registered in Seychelles and regulated by the FSA Seychelles, license number — SD092. The license is active. There have been no reported cases of the broker’s failure to fulfill its obligations to clients.
Advantages
- The broker has been in business for many years
Disadvantages
- The broker's regulator is offshore.
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Standard Zero | $16 | No |
| Pro Zero | $12 | No |
| Raw | $4 | No |
The third column in the table indicates that holders of real accounts withdraw funds for free, regardless of the method and amount. Taurex covers related expenses, but don’t forget that commissions may be charged by your bank or Skrill.
The table below includes the average trading fees of Taurex and two industry leaders. The numbers help to assess how favorable Taurex’s conditions are.
| Broker | Average commission | Level |
|---|---|---|
|
$10.6 | |
|
$1 | |
|
$8.5 |
Account types
The Standard Zero account is presented as all-embracing. It has regular spreads and no commissions and therefore it is suitable for traders with moderate activity. The Raw account has raw spreads from 0.0 pips and a fairly high fee of $4 per lot. This account type is optimal for significant trading activity. On the Pro Zero account, spreads begin from 1.2 pips and there are no commissions. This option is the most favorable for those who often trade in large volumes. The minimum deposit requirements are $500 on Pro Zero and Raw accounts and $100 on Standard Zero. In order to choose the most suitable account, a trader needs to clearly understand how exactly he is planning to trade. However, it is always possible to open additional accounts.
Account types
Leverage is up to 1:1000 for all account types. If you have never cooperated with this broker before, it is best to open a demo account first. This will let you explore the features and experiment with trading strategies without risking your capital. Then, based on your trading preferences, available funds and ambitions, you can select a live account and start making real trades.
Deposit and Withdrawal
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When trading on a real account, a client makes full-fledged transactions and earns profit in case of success.
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Profits are accrued in the account balance and can be withdrawn in part or in full at any time via the user account.
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The available withdrawal methods are bank cards, bank accounts, and Skrill.
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The broker does not charge withdrawal fees, but charges may be applied by a third party to a transaction, e.g., a bank.
Investment Options
PAMM service from Taurex
The Taurex PAMM service offers simple trading without intermediaries. Asset managers trade instead of investors, seeking high returns. The Taurex PAMM system allows investors to pool their funds into a single trading account.
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Investing in a PAMM account allows you to diversify your portfolio and choose experienced traders.
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PAMM managers can generate passive income from successful transactions.
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Investors retain control over their investment decisions and can adjust the portfolio depending on market conditions and the performance of managing traders.
Copy trading from Taurex
Copy Trading from Taurex offers free access to an active community of traders to share powerful trading knowledge.
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Copying trades occurs with one click of a finger.
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Connecting, learning, and exploring the trading world becomes a dynamic process through copy trading.
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To join copy trading, you must download the Taurex app, register for a trading account, and join the community.
Introducing Brokers (IB)
Private individuals can conclude agreements with the broker and get marketing tools and mechanisms to attract new clients. The broker’s partners receive rewards for invited clients. All issues are resolved through tech support. Legal entities are offered more options. They can conclude various types of agreements with Taurex and even use the broker’s capacities to establish their own trading business. Legal entities get institutional accounts with reduced trading costs.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Customer support
Is it possible to deposit funds from a card issued by a U.S. bank? What is the current spread for USD/GBP? Can trades be kept open overnight? Some questions may be caused by a trader’s inattentiveness or a lack of information provided by the broker. Also, unusual trading situations happen. Taurex perfectly understands this and therefore provides a technical support service that responds by phone, email or in live chat 24 hours a day, 5 days a week.
Advantages
- There are three communication channels
- On weekdays, operators work around the clock
- Users get prompt and competent answers
Disadvantages
- Support is not available during weekends
It doesn’t matter if you are the broker’s client or not. Any trader can approach the support service and get competent help.
The following communication channels are presently available:
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email;
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phone;
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live chat on the website.
The fastest way to ask a question is by phone or in live chat. Responses by email arrive within 24 hours.
Contacts
| Registration address |
Registered office address: F20, 1st Floor, Eden Plaza, Eden Island, Seychelles. Physical office address: Unit G, F28 Eden Plaza, Eden Island, Republic of Seychelles. |
|---|---|
| Regulation | FSA |
| Official site | https://www.tradetaurex.com/ |
| Contacts |
+2484632026
|
Education
Most brokers only offer a FAQs section and a trader’s glossary, but some have full-fledged educational courses. In this regard, Taurex holds an average position — it doesn’t have long courses, but features articles and videos for those who are just starting their trading journey. Users with average experience and professionals can find a lot of interesting things in expert podcasts.
Most information is for beginners. Educational videos address money management, among other issues. Podcasts are for a wider audience. Some of them are primarily intended for experienced market participants.
Comparison of Taurex with other Brokers
| Taurex | RoboForex | Pocket Option | Exness | Eightcap | FxGlory | |
| Trading platform |
MT4, MT5 | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MT5 | MT4, MobileTrading, MT5 |
| Min deposit | $100 | $10 | $5 | $10 | $100 | $1 |
| Leverage |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:30 to 1:500 |
From 1:1 to 1:3000 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | 8.00% |
| Spread | From 0 points | From 0 points | From 1.2 point | From 1 point | From 0 points | From 2 points |
| Level of margin call / stop out |
No | 60% / 40% | 30% / 50% | No / 60% | 80% / 50% | 20% / 10% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Instant Execution, Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | No | No |
Detailed review of Taurex
Taurex’s owner, Taurex Ltd, uses mircoservices and virtual private servers. It works with top-tier liquidity providers and applies STP. Secure sockets layer (SSL) protocols and authentication tokens ensure safety. Thanks to these solutions, user funds and personal details are secure. In addition, Taurex is responsive to clients’ requests. For example, the asset pool is constantly expanding and new currency pairs, indices, and other financial instruments are added. All this ensures highly comfortable cooperation with the broker.
Taurex by the numbers
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$100 minimum deposit;
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1:1000 maximum leverage;
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1500+ financial instruments;
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3 real accounts + 1 demo account;
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$0 withdrawal fee.
Taurex is a modern broker with flexible trading conditions
Trading risks can be reduced through a diversified portfolio, which isn’t difficult to create given the variety of trading instruments, which include several hundred CFDs on currency pairs, shares, indices, precious metals, commodities, and cryptocurrencies. The large asset pool enables traders to apply various strategic solutions. Such an approach is encouraged by the broker that allows scalping, hedging, keeping positions open overnight, and using advisors. Traders can use up to 1:1000 leverage. Therefore, the broker is entirely aimed at active trading. The IB program can bring certain benefits to private individuals, but it won’t become a primary source of income.
Taurex’s analytical services:
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Trading Central offers tools for technical and fundamental analyses, including AI-based smart indicators.
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Market analysis. The broker’s experts analyze current market situations and provide traders with the results in the form of newsletters.
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Podcasts. Experienced traders who have been cooperating with Taurex for a long time regularly record educational and analytical podcasts that are promptly published on the broker’s website.
Advantages:
Having a low entry threshold and flexible conditions, the broker is suitable for most traders.
Clients trade at their own pace and the company does not limit them in any way.
Various asset types and high leverage ensure a large profit potential.
Educational and analytical content is useful not only for beginners, but also for professionals.
Technical support can be reached through several communication channels and is available around the clock on weekdays.
User Satisfaction