Taurex Review 2024 with Rankings By Dumb Little Man
Overall Rating | Overall Ranking | Trading Terminals |
1.4 | 134th  |  |
Taurex Review
Forex brokers are key facilitators in the global currency markets, providing traders access to a complex world of foreign exchange. One such broker that stands out is Taurex, a CFD broker known for offering a diverse range of trading instruments. Taurex provides opportunities in Forex, shares, indices, precious metals, commodities, and cryptocurrencies. Their collaboration with top-tier liquidity providers and commitment to straight-through processing (STP) ensures a transparent and efficient trading environment.
In our comprehensive review, we aim to deliver an exhaustive evaluation of Taurex. This analysis will focus on the broker’s unique selling propositions and highlight any potential drawbacks. We intend to furnish traders with crucial insights into Taurex’s various account options, deposit and withdrawal processes, commission structures, and other essential aspects. By integrating expert analysis with actual trader experiences, our goal is to provide a balanced view that helps you make an informed decision about whether Taurex could be your preferred brokerage service provider.
What is Taurex?
Taurex is recognized as a CFD broker that facilitates trading in a vast array of financial instruments. The platform offers access to over 500 trading instruments spanning categories like Forex, shares, indices, precious metals, commodities, and cryptocurrencies. A key feature of Taurex is its collaboration with top-tier liquidity providers and the adoption of straight-through processing (STP), enhancing the speed and transparency of transactions.
The broker is adaptable to both novice and seasoned traders, with a minimum deposit requirement of just $100. Taurex features competitive pricing with raw spreads starting from 0 pips and a trading fee that is minimal or as low as $4 per lot. Traders can start with a free demo account, or choose from three different types of real accounts, which vary in terms of minimum deposit, spreads, and trading fees.
Leverage options at Taurex can go as high as 1:1000, offering significant flexibility in trading strategies. The broker places no restrictions on trading tactics such as scalping, hedging, or trading on news events, and even allows the use of trading advisors. This policy underscores Taurex’s commitment to providing a versatile and trader-friendly platform.
Safety and Security of Taurex
Taurex operates under strict regulatory oversight, enhancing the safety and security of its trading environment. The broker is registered in Seychelles and adheres to the regulations set by the Financial Services Authority (FSA) of Seychelles, holding an active license. This regulatory framework ensures that Taurex maintains high standards of operational integrity.
According to information gathered from Dumb Little Man, a thorough examination reveals that there have been no reported cases of Taurex failing to meet its obligations to clients. This track record highlights the broker’s reliability and commitment to upholding the interests of its traders, contributing significantly to its credibility in the competitive Forex market.
Pros and Cons of Taurex
Pros
- Demo accounts available without deposits
- Choice of three real account types
- High leverage up to 1:1000
- Extensive range of CFDs across six asset classes
- Access to unique analytical tools from Trading Central
- Customizable partnership programs
Cons
- Limited to CFDs only
- No services for residents of select countries
Sign-Up Bonus of Taurex
Taurex currently does not offer a sign-up bonus for new clients. As of this writing, traders looking to join Taurex should note that the platform does not provide initial bonuses or promotions upon registration. This absence of a sign-up incentive is an important consideration for potential users who might weigh such benefits as part of their decision-making process when choosing a broker.
Minimum Deposit of Taurex
The minimum deposit required to start trading with Taurex is $100. This initial deposit amount is designed to be accessible, enabling both new and experienced traders to open accounts without a significant financial barrier. Such a requirement ensures that a wide range of investors can explore trading opportunities with Taurex, making it a viable option for those looking to enter the trading market with a moderate investment.
Taurex Account Types
Taurex offers a range of account types tailored to meet various trading preferences and levels of experience. After thorough testing and research by our team of experts at Dumb Little Man, the following account options have been detailed:
Demo Account
- No minimum deposit
- Uses virtual money
- Trading conditions mirror the Standard Zero account
Standard Zero Account
- Minimum deposit of $100
- Spreads start from 1.6 pips
- No trading commission
- Access to the full asset pool
Pro Zero Account
- Minimum deposit of $500
- Spreads start from 1.2 pips
- No trading commission
Raw Account
- Minimum deposit of $500
- Raw spreads beginning from 0.0 pips
- Trading commission of $4 per lot
- No limits on trading strategies or methods
These account options are designed to cater to different levels of trading expertise and investment capacities, offering flexibility and comprehensive access to all trading features.
Taurex Customer Reviews
Taurex customer reviews present a mixed sentiment about the broker’s services. Many clients praise the timely customer support and low spreads, appreciating the transparent fee structure and regulatory compliance that enhances a secure trading environment. Users highlight the user-friendly trading platform and the availability of diverse tradable assets, which have significantly contributed to efficient trading experiences. Additionally, the provision of educational resources has been beneficial for improving trading skills and making informed decisions.
However, some negative feedback points to instances where spreads were significantly increased during crucial trading moments, which led to losses, sparking concerns about potential market manipulation. One particular complaint included a detailed accusation supported by screenshots and social media campaigns claiming that Taurex engaged in activities detrimental to trader interests. This stark contrast in experiences indicates that while many find Taurex reliable and client-focused, others question its trading practices under specific conditions.
Taurex Fees, Spreads, and Commissions
Taurex provides a structured fee system across its different account types, focusing on competitive trading fees. The broker offers two types of spreads: regular and raw. Regular spreads, available with the Standard Zero and Pro Zero accounts, include the broker’s markup and do not involve additional commissions. In contrast, the Raw account features raw spreads, which are tighter because they do not include the broker’s markup, but a $4 per lot commission is charged.
This pricing structure allows traders to choose an account type that best suits their trading strategy and cost preferences. The absence of commission on Standard Zero and Pro Zero accounts makes them attractive for traders who prefer a simpler cost structure, while the Raw account is suited for those looking for tighter spreads and are comfortable with a clear, fixed commission cost.
Deposit and Withdrawal
Taurex facilitates full-fledged transactions on its real accounts, allowing traders to generate profits if their trades are successful. According to a trading professional from Dumb Little Man who tested the system, profits are promptly reflected in the account balance and can be withdrawn either partially or in full at any time through the user account interface.
The broker supports several withdrawal methods, including bank cards, bank accounts, and Skrill. This range of options provides flexibility for traders in managing their funds. Although Taurex does not charge any withdrawal fees, it is important to note that there might be charges applied by third-party services, such as banks involved in the transactions. This information helps traders plan their financial movements and anticipate potential costs associated with accessing their earnings.
How to Open a Taurex Account
- Visit the Taurex website and click Open Account in the top right corner.
- Fill out the registration form with your personal details, select your account type (individual or corporate), and set up your login credentials.
- Provide your registration address, postal code, and other required information such as date of birth and preferred language.
- Input your bank details and proceed by clicking Next.
- Complete sections regarding your employment and financial background and click Next.
- Answer queries about your trading experience and click Next.
- Provide details on your investment experience and advance by clicking Next.
- Agree to the terms and conditions, select a secret question for password recovery, and confirm to complete your registration.
- Upload necessary identification documents for account verification under the “Documents” section.
Taurex Affiliate Program
The Taurex Affiliate Program offers a lucrative opportunity for both private individuals and legal entities to partner with the broker and earn rewards. Private individuals can sign agreements with Taurex, receiving marketing tools and mechanisms to help attract new clients. These partners are compensated for each client they successfully refer to the platform.
Legal entities have access to a broader range of options. They can enter into various types of agreements with Taurex, which may include using the broker’s infrastructure to establish their own trading businesses. All affiliate partners can resolve any issues through dedicated tech support, ensuring a smooth and efficient collaboration with Taurex. This program not only facilitates earning potential but also expands the capacity for business development in the trading industry.
Taurex Customer Support
Taurex Customer Support provides a range of communication channels to assist clients, including email, phone, and live chat options on the website. Based on the experience of Dumb Little Man, contacting support via phone or live chat is identified as the quickest method to receive immediate assistance. These options allow for real-time problem solving and immediate feedback.
For those who prefer to use email, Taurex ensures that responses are timely, with replies typically arriving within 24 hours. This commitment to efficient communication ensures that all users, regardless of their preferred method of contact, receive the support they need in a timely manner, reflecting the broker’s dedication to excellent customer service.
Advantages and Disadvantages of Taurex Customer Support
Multiple communication methods
Unavailable on weekendsTaurex vs Other Brokers
#1. Taurex vs AvaTrade
Taurex and AvaTrade both offer a wide range of CFD trading options, but there are significant differences in their operational scope and regulatory environment. AvaTrade, established in 2006, is heavily regulated with multiple global licenses and offers an extensive selection of over 1,250 financial instruments. It caters to a large international client base and has a strong presence with offices in various countries. Taurex, on the other hand, is newer with a focus on providing flexible trading conditions and high leverage options.
Verdict: AvaTrade is likely better for traders looking for a more established broker with a broader range of instruments and stronger regulatory oversight, making it more suited for those prioritizing safety and a diverse trading portfolio.
#2. Taurex vs RoboForex
RoboForex offers a robust trading platform selection including MetaTrader, cTrader, and RTrader, along with innovative offerings like ContestFX for demo account competitions. It provides a vast range of over 12,000 trading options across eight asset classes, appealing to a diverse trading community. Taurex maintains competitive with its straightforward trading conditions and high leverage, but lacks the extensive platform variety and trading instrument breadth that RoboForex offers.
Verdict: RoboForex edges out as the better option for traders who value technological variety and a vast array of trading instruments. Its commitment to cutting-edge trading technology and personalized terms may offer a more tailored trading experience compared to Taurex.
#3. Taurex vs FXChoice
FXChoice is known for its focus on serving experienced traders with ECN accounts that offer tight market spreads, licensed under the IFSC of Belize. It has a strong emphasis on integrity and customer-focused service, offering a range of professional services and automated trading options. Taurex, while also offering competitive terms, does not provide the specialized account types like ECN that FXChoice does, which are preferred by professional traders for closer to market conditions.
Verdict: FXChoice is preferable for experienced traders who need advanced trading conditions like ECN accounts for lower spreads and more market-like trading environments. Taurex, while competitive, may be more suited for traders who are less concerned with the specifics of spread and more focused on overall trading flexibility.
>> Also Read: AvaTrade Review 2024 By Dumb Little Man: Is It The Best Overall Broker?
Choose Asia Forex Mentor for Your Forex Trading Success
If you are driven to build a successful career in forex trading and aim for significant financial success, Asia Forex Mentor is your prime destination for top-notch forex, stock, and crypto trading courses. Ezekiel Chew is recognized as a leading figure in the training of trading institutions and banks and is the mastermind behind Asia Forex Mentor. On a personal level, Ezekiel consistently makes seven-figure trades, distinguishing him uniquely from other educators in this area. Here are the key reasons we endorse this choice:
Comprehensive Curriculum: Asia Forex Mentor provides a thorough educational program that addresses forex, stock, and crypto trading. This curriculum is meticulously designed to furnish aspiring traders with the essential skills and knowledge needed to thrive in these varied markets.
Proven Track Record: The reputation of Asia Forex Mentor is solidly built on its history of developing traders who consistently achieve profitability in diverse markets, validating the efficacy of their teaching methods and mentorship.
Expert Mentor: At Asia Forex Mentor, learners receive insights and guidance from an expert mentor, Ezekiel, who has shown notable success in forex, stock, and crypto trading. His personalized support helps students confidently understand and navigate each market.
Supportive Community: Enrolling in Asia Forex Mentor grants access to a community of ambitious traders focused on succeeding in forex, stock, and crypto trading. This network promotes mutual support, exchange of ideas, and collaborative learning, enriching the educational experience.
Emphasis on Discipline and Psychology: Achieving success in trading requires a strong mental approach and disciplined behavior. Asia Forex Mentor emphasizes psychological training that equips traders to manage their emotions, cope with stress, and make decisions logically during trading sessions.
Constant Updates and Resources: The dynamic nature of financial markets demands that traders stay informed with the latest trends and strategies. Asia Forex Mentor ensures continuous access to important updates and resources, helping traders stay competitive.
Success Stories: Asia Forex Mentor is proud of its numerous success stories, with many students significantly transforming their trading careers and attaining financial independence through its comprehensive education in forex, stock, and crypto trading.
Asia Forex Mentor stands out as the top selection for those seeking a comprehensive and effective forex, stock, and crypto trading course to pursue a lucrative career and achieve financial growth. With its detailed curriculum, skilled mentoring, practical teaching approach, and a supportive community, Asia Forex Mentor equips aspiring traders to become proficient professionals in various financial markets.
RECOMMENDED TRADING COURSE | REVIEW | VISIT |
 | #1 Forex, Crypto and Stocks trading course. Ranked most comprehensive by Investopedia and Best by Benzinga. Free to Try! |
Conclusion: Taurex Review
In conclusion, the team of trading experts at Dumb Little Man has thoroughly evaluated Taurex and recognizes it as a viable broker for traders seeking a variety of trading instruments and competitive conditions. Taurex’s partnership with top-tier liquidity providers and its straight-through processing (STP) ensure a transparent trading environment. With options for high leverage up to 1:1000 and a selection of different account types, Taurex caters to diverse trader needs, from beginners to more experienced market participants.
However, while Taurex offers many attractive features, potential users should be aware of its limitations. The broker’s restriction on offering services to residents of certain countries and its focus solely on CFDs might not align with everyone’s trading strategies or preferences. Additionally, concerns raised by some users regarding spread fluctuations during volatile periods suggest that traders need to approach with caution, particularly those who trade around major economic events or news releases.
>> Also Read: NAGA Review 2024 with Rankings By Dumb Little Man
Taurex Review FAQs
What types of trading instruments can I trade with Taurex?
Taurex offers a broad spectrum of trading instruments across multiple asset classes. Clients can trade in Forex, shares, indices, precious metals, commodities, and cryptocurrencies. This diversity allows traders to spread their investments and potentially reduce risk by diversifying their portfolios.
What is the minimum deposit required to open an account with Taurex?
To start trading with Taurex, a minimum deposit of $100 is required. This relatively low minimum deposit makes Taurex accessible to a wide range of traders, from beginners looking to enter the market to experienced traders seeking to test the platform’s capabilities before committing a larger investment.
How does Taurex handle customer support and service issues?
Taurex prides itself on offering robust customer support. Traders can reach out via email, phone, or live chat, with phone and live chat being the fastest ways to receive support. Responses via email are typically received within 24 hours. This comprehensive support structure ensures that traders can receive assistance promptly when needed.
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