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3.5/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

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
Minimum deposit:
  • $200
Trading platform:
  • MetaTrader4
  • MetaTrader5
Regulation:
  • VFSC
Foundation date:
  • 2016
54
users picked this broker in 3 months
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Our Evaluation of TegasFX

3.5/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

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
Traders Union icon

TegasFX is a broker with higher-than-average risk and the TU Overall Score of 3.5 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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Advantages of trading with TegasFX:
  • 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.
Disadvantages of TegasFX:
  • 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

Anastasiia Chabaniuk

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.

Trade with this broker, if:
  • 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.
Do not trade with this broker, if:
  • 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

User Satisfaction i

Score:
6/10

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tzeoni
21 weeks ago

I earn actively by trading here and acting as a signal provider in the copy trading service, earning 20% of investors’ profits. What attracted me initially was the solid number of currency pairs. The broker charges small fees, for example, an average of only 0.2 pips for EUR/USD and USD/JPY and 0.7 pips for NZD/USD and USD/CAD. There are no restrictions on methods or strategies, meaning I can trade freely without worrying that my account might suddenly get blocked for something like hedging. MetaTrader 4 is integrated as a top trading solution that meets the needs of modern, successful traders. Regarding copy trading, the implementation is excellent, making it convenient for both me and my investors. I trade consistently with a profit, so trust in my expertise and additional income are growing.

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opdoctor
21 weeks ago

I took a long time to evaluate this broker before opening an account to trade via the MT5 trading platform. It’s not very well-known, and there aren’t many reviews or ratings online. I decided to give it a chance, and I believe I made the right decision. TegasFX doesn’t seem to have a huge selection of currency pairs and CFDs, but the ones offered are the most in demand, with consistently high liquidity. As a result, trades are executed almost without slippage. Leverage is capped at 1:200, with some assets limited to 1:10-1:20. This is more than sufficient for me since I don’t use risky strategies. The trading fees are reasonable and somewhat average for the market. I’d highlight the fast deposit and withdrawal processing, especially when using bank cards and crypto wallets. Requests are processed quickly, and transactions take no more than an hour. I recently joined the affiliate program. I’ve brought in a few referrals, and I can see in my user account that they’ve already earned me

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asima
21 weeks ago

I was looking for a reliable broker with good trading conditions. I chose TegasFX for several reasons. The demo account allowed me to thoroughly explore and test everything before depositing real money. Overall, the trading process is well-organized: trades are executed quickly, and stop-loss and take-profit orders work without issues. There’s an option to create a crypto portfolio with five major assets (BTC, ETH, LTC, XRP, and BCH). However, the spreads for these are quite high, starting at 25 pips. On the other hand, spreads for currency pairs are attractive, usually below 1 pips. The lack of analytics, reviews, and news is a drawback. I prefer having all the information I need in one place as top-tier brokers offer. As for client support, it varies depending on the manager handling your request. Sometimes it’s easier to solve issues independently, but I’ve mostly had positive experiences.

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pspenchev
21 weeks ago

This broker caters to both novice and experienced traders. My primary objective was to earn passive income, which led me to select the broker's Multi-Account Manager (MAM) platform. Finding a qualified and trustworthy financial manager was a smooth process, as the support team readily recommended a suitable candidate. Initially, I invested a modest sum to assess the manager's expertise. Upon confirming their professionalism, I significantly increased my investment. Currently, the manager operates a separate trading account with approximately $10,000, generating profits for both of us. I prefer to minimize my involvement in the trading process and am pleased with the results thus far.

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garry831022
21 weeks ago

I spent a long time researching account types and ultimately chose the MT4 ECN/STP account. Registration took only a few minutes. The user account is very user-friendly and free from unnecessary clutter. I’ve been trading for about three months without any issues. The partnership is transparent, spreads are floating and displayed before each trade, and commissions are minimal. However, there are fees for deposits and withdrawals. The highest fee applies to deposits via bank cards of 3.5%, while withdrawals to the same cards cost a modest 0.5%. This is a slight downside. Additionally, CFDs on stocks are unavailable, although the broker promises to add them soon. Apart from this, there are no significant drawbacks. Even client support, often a weak spot on such platforms, performs well. While responses on weekends and holidays can take time, it’s possible to get assistance. On weekdays, managers are always available and helpful. I’ve contacted them several times and am satisfied with the

Score:
2.51/10

Trading Account Opening

The process is very simple. Here’s the necessary step-by-step guide:

1

Click the “Open Real Account” button in the upper-right corner of any page on the broker’s website.

2

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.

3

Confirm your email address by entering the PIN code sent to it or by following the link in the email.

4

The system will open your user account. You must complete verification to access all features.

5

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.

6

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.

Score:
We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria
4.2/10

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.

Advantages
  • Is regulated
  • Track record over 9 years
Disadvantages
  • 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 VFSC Vanuatu Financial Services Commission Vanuatu No specific fund Tier-3

TegasFX Security Factors

Foundation date 2016
Negative balance protection No
Verification (KYC) Yes
Score:
We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria
5/10

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.

Advantages
  • Tight EUR/USD market spread
Disadvantages
  • 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
Score:
3.21/10

Account types

TegasFX offers four types of live accounts. When reviewing their conditions, pay attention to the minimum deposit requirements and trading commissions.

Account Type
Description
MT4 ECN/STP
The minimum deposit is $200, spreads start from 0.1 pips, and the commission is 4$ per lot.
MT4 ECN/STP Pro
The minimum deposit is $2,000, spreads start from 0.1 pips, and the commission is $3.5 per lot.
MT5 ECN/STP Pro+
The minimum deposit is $1,000, spreads start from 0.1 pips, and the commission from $3.5 per lot.
FIX API 4.4
The minimum deposit is $10,000, spreads start from 0.1 pips, and the commission is calculated individually.

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.

Score:
This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology
4.45/10

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.

Advantages
  • USDT (Tether) supported
  • Low minimum withdrawal requirement
  • BTC available as a base account currency
  • Minimum deposit below industry average
Disadvantages
  • Deposit fee applies
  • Wise not supported
  • 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.

Score:
The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change.
3.75/10

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.

Advantages
  • Copy trading platform
  • Indices trading
  • Crypto trading
Disadvantages
  • Futures not available
  • Limited asset selection

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
Score:
1.17/10

Customer support

Information

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
Score:
1.32/10

Education

Information

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.

What is on the TegasFX’s website
What is not on the TegasFX’s website
A few video lessons
Comprehensive educational programs
Recordings of webinars, guides
Articles, audio podcasts

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 Eightcap XM Group RoboForex VT Markets NPBFX
Trading
platform
MetaTrader5, MetaTrader4 MT4, MT5, TradingView MT4, MT5, MobileTrading, XM App MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader MetaTrader4, MetaTrader5, VT Markets App, Web Trader+ MT4
Min deposit $200 $100 $5 $10 $50 $10
Leverage From 1:1
to 1:200
From 1:30
to 1:500
From 1:1
to 1:30
From 1:1
to 1:2000
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 10.00% No No
Spread From 0.1 points From 0 points From 0.8 points From 0 points From 0 points From 0.4 points
Level of margin call
/ stop out
100%  /  70% 80%  /  50% 100%  /  50% 60%  /  40% No  /  50% No  /  30%
Order Execution STP, ECN Market 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 No No Yes 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:

1

Access to 36 currency pairs, popular CFDs on metals, energies, indices, and cryptocurrencies.

2

Reasonable trading costs for most financial instruments.

3

Top-tier trading platforms (MT4 and MT5) with leverage from 1:2 to 1:200.

4

Order sizes from 0.01 to 200 lots, with execution speeds around 7 ms.

5

Three passive income streams.

6

24/7 client support and multiple deposit/withdrawal channels.

7

Regulated by VFSC (Vanuatu Financial Services Commission), ensuring full transparency.

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