Taurex is a multi-asset broker founded in 2017, offering access to popular platforms such as MetaTrader 4/5 and a long list of more than 1,500 tradable CFDs.
The company is regulated by FCA, one of the most respected financial authorities worldwide, but is it actually reliable and trustworthy? In this thorough, unbiased Taurex broker review, we will explore everything and get to the answer to the question.
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 in 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 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 with main differences being in terms of spreads and commissions, which will be discussed later in the article. Let's have a glance at all 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.
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 fundings 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 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 about Taurex; Based on our investigations, there's 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.
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: 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 are too low. With that in mind, the broker is a trustworthy choice based on the scores.
Conclusion And Final Words
Taurex appears to be a reliable and trustworthy forex and CFD brokerage, being regulated by FCA, a solid high-tier authority, and having a high trust score of 4.6/5 on Trustpilot. Other benefits include leverage up to 1:1000 and over 1,500 trading instruments.
The only major drawback we noticed is the relatively high minimum deposit of $100, which is not a negative point for some traders. Overall, we recommend the discussed brokerage, but always do your own research and put it before any other opinion.
