Taurex provides access to leverage up to 1:1000 with a margin call level of 100%. Also, the stop out level is at 30%. The company has received a 4.6/5 evaluation score on the Trustpilot platform, with more than 160 reviews and +80% 5-star ratings.
Company Information & Regulation
Taurex is a relatively young forex and CFD broker headquartered in Seychelles. Founded in 2017 by Nick Cooke, this broker operates by two entities:
- Zenfinex Global Limited in Seychelles:
- Regulated by the Financial Services Authority in Seychelles under the license number SD092;
- Registered at F20, 1st Floor, Eden Plaza, Eden Island, Seychelles;
- Physically located at Unit G, F28 Eden Plaza, Eden Island, Republic of Seychelles.
- Zenfinex Limited in the United Kingdom:
- Registered in England and Wales under the number 11077380;
- Regulated by the Financial Conduct Authority under firm reference number 816055;
- Registered at 4th Floor, 4 Eastcheap, London, EC3M 1AE, United Kingdom.
The license from FCA, a tier-1 financial authority, is a significant advantage coming with this broker.
What Are The Main Specifics?
Before we dive deeper into the details, let's take a quick look at some of the key features and specifications of the broker's services and structure:
Broker | Taurex |
Account Types | Standard Zero, Pro Zero, Raw |
Regulating Authorities | FCA, FSA |
Based Currencies | USD, EUR, and GBP |
Minimum Deposit | $100 |
Deposit Methods | Bank Transfers, Credit/Debit Cards, Skrill, Neteller, and Crypto |
Withdrawal Methods | Bank Transfers, Credit/Debit Cards, Skrill, Neteller, and Crypto |
Minimum Order | 0.01 |
Maximum Leverage | 1:1000 |
Investment Options | Copy Trading |
Trading Platforms & Apps | MetaTrader 4, MetaTrader 5, Proprietary App |
Markets | Forex, CFDs on Indices, Commodities, Stocks, Crypto, and ETFs |
Spread | From 1.6 Pips on Standard Zero Account From 1.2 Pips on Standard Pro Account None on the Raw Account |
Commission | Zero on Standard Zero and Pro Zero Accounts Up to $4 per Lot in Raw Account |
Orders Execution | Market |
Margin Call/Stop Out | 100%/30% |
Trading Features | Economic Calendar, AI News Sentiment, Swiset, Signal Center |
Affiliate Program | Yes |
Bonus & Promotions | None |
Islamic Account | Yes |
PAMM Account | Yes |
Customer Support Ways | Email, Live Chat, Phone Call, Ticket |
Customer Support Hours | 24/5 |
Account Types Overview
Taurex offers three distinct account types, the main differences being in terms of spreads and commissions, which will be discussed later in the article. Let's have a glance at all the accounts in a table:
Account Type | Standard Zero | Pro Zero | Raw |
Min. Deposit | $100 | $500 | $500 |
Max. Leverage | 1:1000 | ||
Margin Call/Stop Out | 100%/30% | ||
All account types provide access to the broker's full range of trading instruments and platforms, with ECN execution on forex symbols. Also, there's an Islamic and a demo account for swap-free trading and practicing with virtual funds, respectively.
Significant Benefits and Critical Drawbacks
As with any broker, Taurex has its strengths and potential drawbacks. Let's examine the pros and cons to help you get a more clear picture of the brokerage:
Benefits | Drawbacks |
Regulated by a Tier-1 Authority (FCA) | Relatively High Minimum Deposit |
High Leverage Up To 1:1000 | - |
Over 1,500 Trading Symbols | - |
Popular Trading Platform Options | - |
How to Create an Account and Verify Identity
Opening an account with Taurex is a simple, typical process similar to many other brokers. Here's a quick tutorial:
- Navigate to the official website and click the "Open Account" button;
- Choose the client type, then enter full name, email address, country of residence, and phone number in English alphabet characters;
- Select your wallet currency, then click "Register Now".
Your account is created on the broker's website. For verification, complete your profile with additional details, answer financial questions, and provide the required documents on the website.
Trading Platforms and Terminals
The discussed broker offers a range of advanced trading platforms to suit different trader preferences and needs. It provides access to 2 of the most popular terminals in the industry: MetaTrader 4 & MetaTrader 5. Also, a proprietary platform is offered for trading on mobile devices.
You can download and install the mentioned apps on these operating systems:
What is the Commission and Spread Structure?
Taurex is known for its competitive pricing structure, with spreads and commissions varying based on the account type. You can see the numbers for each account in the table below:
Account Type | Standard Zero | Pro Zero | Raw |
Spreads From | 1.6 Pips | 1.2 Pips | 0 Pips |
Commissions per Lot | 0 | Up to $4 | |
Overall, trading fees are low and affordable compared to some of the competitors. Regarding non-trading commissions, there are no costs in funding and withdrawals. Also, no inactivity fees are applied to accounts.
Deposit & Withdrawal Methods
The broker offers a variety of funding and withdrawal options to accommodate traders from different regions with various limitations:
- Bank Transfers: Via bank accounts;
- Credit/Debit Cards: Visa and Mastercard accepted for USD, EUR, and GBP;
- E-wallets: Skrill and Neteller for fast and convenient transactions;
- Cryptocurrencies: Bitcoin, Ethereum, and USDC are accepted for both deposits and withdrawals.
Deposits are generally processed instantly, while withdrawals can take up to 24 hours for e-wallets and cryptocurrencies and up to 3 business days for bank transfers.
Are There Copy Trading & Investment Options On Taurex Broker?
The brokerage offers copy trading and investment options to provide ways of earning passive income in addition to taking profits from trading. Here's an overview:
- Copy Trading: Allows traders to automatically and passively copy the trades of successful signal providers;
- PAMM (Percent Allocation Management Module): Enables investors to allocate funds to professional money managers.
These features make the mentioned broker an attractive option for those seeking passive investments.
Bonus Programs And Promotional Offers
Usually, brokerages with stringent regulatory bodies do not provide bonuses because of tight regulations. It goes the same for Taurex. Based on our investigations, there are not currently any promotions offered by the broker.
Always check the website and other official sources for any changes regarding this matter.
Support Contact Options and Open Hours
The brokerage prides itself on providing responsive and helpful customer support. Traders can reach out through various channels:
- Live Chat: On the website and WhatsApp;
- Email: Support@taurex.com;
- Phone: Regional phone numbers available for LATAM, Mexico, MENA, and Africa;
- Ticket System: Submit detailed queries through the "Contact" page.
There's no 24/7 support available, and the team operates 24/5.
Restricted Countries and Regions
While the company serves clients from many countries worldwide, there are some restrictions due to regulatory requirements. The list of banned countries include, but is not limited to:
- United States
- Canada
- Japan
- North Korea
- Iran
- Belgium
This list might change at any time without prior notice. Therefore, check the website or contact their support to check your eligibility.
Trust Scores & Reviews on Reliable Platforms
Taurex has obtained mostly positive reviews from the trading community on relevant websites, including Trustpilot and ForexPeaceArmy. We will provide more detail in the list below:
- Trustpilot: 4.6 out of 5, based on +160 reviews, more than 80% of ratings are 5-star;
- ForexPeaceArmy: 1/5 with only 3 scores.
Obviously, the trust score submitted on FPA is not reliable because the number of reviews is too low. With that in mind, the broker is a trustworthy choice based on the scores.
Conclusion And Final Words
Taurex offers 3 account types [Standard Zero, Pro Zero, Raw], with the third one offering zero-spread trading to the clients. The minimum deposit is $100 on the Standard Zero account. It increases to $500 for the other 2 accounts.
