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
- $200
- MetaTrader4
- MetaTrader5
- VFSC
- 2016
Our Evaluation of TegasFX
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
TegasFX is a broker with higher-than-average risk and the TU Overall Score of 3.41 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by TegasFX 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.
Brief Look at TegasFX
TegasFX offers clients a diverse range of financial instruments, including currency pairs, contracts for difference (CFDs) on metals, energies, indices, and cryptocurrencies. Trading is executed through the popular MetaTrader 4 and MetaTrader 5 platforms.
Traders can trade on a demo account for some practice or immediately open one of four live accounts: MT4 ECN/STP, MT4 ECN/STP Pro, MT5 ECN/STP Pro+, or FIX API 4.4. Spreads vary by asset, with the best average spread recorded at 0.2 pips for the EUR/USD pair. Commissions start at $3.50 per lot.
The minimum deposit is set at $200 for the MT4 ECN/STP account. The maximum leverage offered is 1:200. Technical support is available 24/7 via four main communication channels.
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- Over 100 different asset types.
- Low trading fees.
- High liquidity with an average order execution time of 7 ms.
- All strategies and methods are allowed.
- Extensive opportunities for passive income.
- Multiple deposit and withdrawal options, including crypto wallets.
- There are no CFDs on stocks or bonds.
- The company charges fees for deposits and withdrawals.
- Lack of analytical reviews and educational resources.
- Significant regional restrictions apply; for example, the platform is not accessible to US residents.
TU Expert Advice
Author, Financial Expert at Traders Union
TegasFX provides access to a wide range of trading instruments, including Forex and CFDs on metals, energies, indices, and cryptocurrencies, through MetaTrader 4 and MetaTrader 5 platforms. Its clients can open demo accounts or choose from four different live account types with varying conditions, including spreads from 0.2 pips, and commissions starting at $3.50 per lot. A minimum deposit of $200 is required, and leverage is up to 1:200. The broker offers fast execution speeds, diverse passive income options, and 24/7 technical support.
However, TegasFX has some drawbacks, including limited educational resources, regional restrictions, and the lack of CFDs on stocks and bonds. The broker operates under the VFSC regulation, providing a lower level of regulatory security. TegasFX may be suitable for experienced traders seeking diverse trading instruments and passive income opportunities, but less ideal for beginners who prioritize comprehensive educational support.
- You value variety in everything. There are four live accounts to choose from, five financial instrument types, three trading platforms, and flexible, easily adjustable leverage up to 1:200.
- You prioritize comfortable trading. The combination of ECN and STP models allows TegasFX to ensure fast and hassle-free trades.
- Passive income is your priority. The broker offers three options: copy trading, MAM accounts, and PAMM accounts, all with attractive conditions.
- You require a platform that offers educational resources and trading tips. TegasFX lacks these features, which help beginner traders enter the market and improve their chances of success.
TegasFX Trading Conditions
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | MetaTrader 4, MetaTrader 5 |
|---|---|
| 📊 Accounts: | Demo, MT4 ECN/STP, MT4 ECN/STP Pro, MT5 ECN/STP Pro+, FIX API 4.4 |
| 💰 Account currency: | USD, EUR, cryptocurrencies |
| 💵 Deposit / Withdrawal: | Bank transfer, Visa and MasterCard, ADVCash, crypto wallets supporting USDT, BTC and ETH |
| 🚀 Minimum deposit: | $200 |
| ⚖️ Leverage: | Up to 1:200 |
| 💼 PAMM-accounts: | Yes |
| 📈️ Min Order: | 0.01 lots |
| 💱 EUR/USD spread: | 0,2 pips |
| 🔧 Instruments: | Currency pairs, CFDs on metals, energies, indices, and cryptocurrencies |
| 💹 Margin Call / Stop Out: | 100%/70% |
| 🏛 Liquidity provider: | J.P.Morgan, Deutsche Bank and others |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | ECN/STP |
| ⭐ Trading features: | Many different asset types, low costs for currency pairs, sufficient leverage, instant order execution, all strategies and methods are allowed. |
| 🎁 Contests and bonuses: | No |
Traders must deposit at least the minimum amount required for their chosen account type. Deposits are processed quickly, with cryptocurrency transfers available as an option. Once funded, they can trade almost any volume, either from a personal computer or through a mobile app. Scalping, hedging, expert advisors, and bots are all supported. The system is simple, intuitive, and boasts high-security standards.
TegasFX Key Parameters Evaluation
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Trading Account Opening
The process is very simple. Here’s the necessary step-by-step guide:
Click the “Open Real Account” button in the upper-right corner of any page on the broker’s website.
Enter your first name, last name, country of residence, and email address. Create a password and confirm it. Agree to the terms and conditions by checking two boxes.
Confirm your email address by entering the PIN code sent to it or by following the link in the email.
The system will open your user account. You must complete verification to access all features.
Open an MT4 ECN/STP, MT4 ECN/STP Pro, MT5 ECN/STP Pro+, or FIX API 4.4 account and deposit at least the minimum required amount using your preferred method.
Download the trading platform and start trading.
In the user account, you can also apply for partnership programs, register in the PAMM/MAM, or copy trading services as a manager, signal provider, or investor. Detailed statistics will be available later.
Regulation and safety
TegasFX has a safety score of 4.2/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Track record over 9 years
- Not tier-1 regulated
- No negative balance protection
TegasFX Regulators and Investor Protection
| Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
|---|---|---|---|---|
 VFSC |
Vanuatu Financial Services Commission | Vanuatu | No specific fund | Tier-3 |
TegasFX Security Factors
| Foundation date | 2016 |
| Negative balance protection | No |
| Verification (KYC) | Yes |
Commissions and fees
The trading and non-trading commissions of broker TegasFX have been analyzed and rated as Medium with a fees score of 5/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- Tight EUR/USD market spread
- Above-average Forex trading fees
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of TegasFX with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
TegasFX RAW/ECN spreads
| TegasFX | Pepperstone | OANDA | |
| Commission ($ per lot) | 4,0 | 3 | 3,5 |
| EUR/USD avg spread | 0,2 | 0,1 | 0,15 |
| GBP/USD avg spread | 0,8 | 0,15 | 0,2 |
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with TegasFX. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
TegasFX Non-Trading Fees
| TegasFX | Pepperstone | OANDA | |
| Deposit fee, % | 0,5-3,5 | 0 | 0 |
| Withdrawal fee, % | 0,25-1 | 0 | 0 |
| Withdrawal fee, USD | 0 | 0 | 0-15 |
| Inactivity fee ($, per month) | 5 | 0 | 0 |
Account types
TegasFX offers four types of live accounts. When reviewing their conditions, pay attention to the minimum deposit requirements and trading commissions.
Leverage is up to 1:200, and the trade size ranges from 0.01 to 200 lots. The FIX API 4.4 account is available upon request and is designed for professional and institutional clients. Trading on this account is conducted through the FIX protocol, offering premium access to deep liquidity and competitive pricing.
There is also a demo account available, which is highly recommended for beginner traders. This allows them to gain valuable hands-on experience and test strategies without risking real funds.
Deposit and withdrawal
TegasFX received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
TegasFX offers limited payment options and accessibility, which may impact its competitiveness.
- BTC available as a base account currency
- USDT (Tether) supported
- Bank card deposits and withdrawals
- Minimum deposit below industry average
- PayPal not supported
- Withdrawal fee applies
- Only major base currencies available
What are TegasFX deposit and withdrawal options?
TegasFX offers a limited selection of deposit and withdrawal methods, including Bank Card, Bank Wire, BTC, USDT, Ethereum. This limitation may restrict flexibility for users, making TegasFX less competitive for those seeking diverse payment options.
TegasFX Deposit and Withdrawal Methods vs Competitors
| TegasFX | Plus500 | Pepperstone | |
| Bank Wire | Yes | Yes | Yes |
| Bank card | Yes | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | Yes | No | No |
What are TegasFX base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. TegasFX supports the following base account currencies:
What are TegasFX's minimum deposit and withdrawal amounts?
The minimum deposit on TegasFX is $200, while the minimum withdrawal amount is $10-50. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact TegasFX’s support team.
Markets and tradable assets
TegasFX offers a limited selection of trading assets compared to the market average. The platform supports 200 assets in total, including 36 Forex pairs.
- Copy trading platform
- Indices trading
- Crypto trading
- Bonds not available
- No ETFs
Supported markets vs top competitors
We have compared the range of assets and markets supported by TegasFX with its competitors, making it easier for you to find the perfect fit.
| TegasFX | Plus500 | Pepperstone | |
| Currency pairs | 36 | 60 | 90 |
| Total tradable assets | 200 | 2800 | 1200 |
| Stocks | No | Yes | Yes |
| Commodity futures | No | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| Stock indices | Yes | Yes | Yes |
| Options | No | Yes | No |
Investment options
We also explored the trading assets and products TegasFX offers for beginner traders and investors who prefer not to engage in active trading.
| TegasFX | Plus500 | Pepperstone | |
| Bonds | No | No | No |
| ETFs | No | Yes | Yes |
| Copy trading | Yes | No | Yes |
| PAMM investing | Yes | No | Yes |
| Managed accounts | No | No | No |
Customer support
Technical support is available 24/7 via phone, email, online chat, and a ticket system on the broker’s website.
Advantages
- Four main communication channels
- Unregistered clients will also receive a response
- Support operates on a weekday basis
- Sufficient competence
Disadvantages
- On weekends and holidays, tech support is slow
Contacts
| Foundation date | 2016 |
|---|---|
| Registration address | Pot 615/304, Rock Terrace Building, Kumul Highway, Port Vila, Vanuatu |
| Regulation |
VFSC
Licence number: 14697 |
| Official site | https://www.tegasfx.com/ |
| Contacts |
+65 316 367 71
|
Education
TegasFX offers limited educational resources, consisting of video tutorials on opening accounts and using trading platforms. These are accessible to registered clients via their user accounts.
For beginners, external resources are necessary to learn the basics of trading. They can apply this knowledge risk-free by opening a demo account before transitioning to live trading.
Comparison of TegasFX with other Brokers
| TegasFX | Bybit | Eightcap | XM Group | VT Markets | NPBFX | |
| Trading platform |
MetaTrader5, MetaTrader4 | MetaTrader5 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MetaTrader4, MetaTrader5, VT Markets App, Web Trader+ | MT4 |
| Min deposit | $200 | No | $100 | $5 | $50 | $10 |
| Leverage |
From 1:1 to 1:200 |
From 1:1 to 1:500 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:500 |
From 1:200 to 1:1000 |
| Trust management | No | No | No | No | Yes | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0.1 points | From 0 points | From 0 points | From 0.8 points | From 0 points | From 0.4 points |
| Level of margin call / stop out |
100% / 70% | No / 50% | 80% / 50% | 100% / 50% | No / 50% | No / 30% |
| Order Execution | STP, ECN | Market Execution | Market Execution | Market Execution | Market Execution | Instant Execution, Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | No | No | No | No | No |
Detailed Review of TegasFX
TegasFX’s management team comprises highly skilled professionals with extensive experience in trading and financial analysis. Their expertise has allowed the broker to enhance its services significantly over the years. The platform ensures seamless and efficient trading using the advanced MetaTrader solution and direct fiber-optic connections to over 30 liquidity providers. FIX API further optimizes performance. Passive income options, including copy trading and PAMM/MAM accounts, are designed for convenience and reliability. Trader funds are safeguarded in segregated accounts at DBS Bank.
TegasFX is a comfortable broker for traders of any level
Clients of all levels will find a suitable option among the four available account types, tailored to diverse priorities and goals. All strategies and methods, from scalping to hedging and algorithmic trading, are supported. The broker offers over 100 assets across five categories, enabling deeply diversified portfolios.
Advantages:
Access to 36 currency pairs, popular CFDs on metals, energies, indices, and cryptocurrencies.
Reasonable trading costs for most financial instruments.
Top-tier trading platforms (MT4 and MT5) with leverage from 1:2 to 1:200.
Order sizes from 0.01 to 200 lots, with execution speeds around 7 ms.
Three passive income streams.
24/7 client support and multiple deposit/withdrawal channels.
Regulated by VFSC (Vanuatu Financial Services Commission), ensuring full transparency.
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