Taurex

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Leverage 1:500
Minimum Deposit $100
Regulation FCA, CySEC, ASIC
Year Established 2010
Payment Methods Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller, Cryptocurrency
Trading Assets Forex, Indices, Shares, Commodities, Cryptocurrencies
MT4
MT5
Spreads Very Low
Average cost: EUR/USD 0.4 pips
Demo Account
Islamic Account
CopyTrading
ZuluTrade
Scalping Yes
Signals
EAs/Robots Available
Negative Balance Protection Yes
Deposit Fee
Withdrawal Fee
Contact Information Email: [email protected], Phone: +1 234-567-890
Address 20 Broad Street, New York, NY 10005, USA
Rating ★★★★☆ 4.5
Website

Alternative Brokers

Pros and Cons

Pros
  • Extensive asset selection across Forex, indices, shares, commodities, and cryptocurrencies
  • Very low spreads on major pairs
  • High leverage up to 1:500
  • User-friendly trading platforms MT4 and MT5 available
  • Comprehensive educational resources and market analysis tools
Cons
  • ZuluTrade integration is not available
  • Limited presence in certain regions due to regulatory restrictions
  • Some advanced trading tools are behind a paywall
  • Cryptocurrency withdrawals can have longer processing times
  • No weekend customer support

Introduction

Choosing the right brokerage is crucial to achieving success in trading and investing.

Taurex Brokerage, a relatively new player in the trading world, seeks to serve a diverse clientele ranging from beginners to advanced traders.

With many trading platforms offered, asset classes, and research tools, Taurex positions itself as a comprehensive brokerage solution.

This detailed review explores every facet of the brokerage, scrutinizing its platform usability, trading options, fees, and educational resources to help prospective traders make informed decisions.

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Platform Overview

Platform Usability

Taurex’s web-based trading platform provides traders with a clean, intuitive user interface.

  • Navigation: Traders can easily access essential features such as asset selection, technical analysis tools, order placement, and account management through clear menu items and a logical layout. Asset classes and trading pairs are categorized for easy exploration, reducing the learning curve for new traders.
  • Search Functionality: The platform includes a global search feature that allows users to find assets, news, and educational materials quickly.
  • Cross-Device Accessibility: Its platform is available on both desktop and mobile browsers, ensuring seamless accessibility regardless of the device. The responsive design adapts fluidly to different screen sizes, maintaining clarity and functionality.

Platform Features and Tools

The broker provides a range of tools designed to offer market insights, facilitate analysis, and simplify trade execution.

  • Charting Tools: The platform’s charting suite offers real-time data, customizable chart types, and over 50 technical indicators. Users can overlay multiple indicators, adjust time frames, and save personalized chart setups for future reference.
  • Market News: A dedicated market news section aggregates real-time news from leading financial outlets. Traders can customize this news feed by filtering relevant asset classes or economic regions.
  • Research and Analytics: Taurex provides traders with detailed market analysis, research reports, and economic calendars. Weekly and monthly reports summarize market trends and provide actionable insights for developing trading strategies.

Security and Reliability

  • Data Encryption: The company secures user data with advanced encryption protocols. Sensitive information, such as financial transactions and personal identification, is safeguarded to protect against unauthorized access.
  • High Uptime: The platform has consistently demonstrated high availability, with minimal downtime due to maintenance or technical difficulties.

Platform Performance

  • Speed: Trade execution is rapid, minimizing the chances of slippage. Orders typically execute within milliseconds, ensuring accuracy during volatile market movements.
  • Stability: Even during peak trading sessions, the platform remains stable and responsive, providing a smooth experience regardless of trading volume.

Customization and Alerts

  • Workspace Customization: Traders can personalize their workspace layout, arranging asset watchlists, market news, and trading charts to their preferences.
  • Price Alerts: The platform allows traders to set up automated alerts for price movements or technical patterns. These alerts can be delivered via email, SMS, or in-app notifications.

Trading Options

Asset Classes

Taurex offers a comprehensive range of asset classes, allowing traders to diversify their portfolios.

  1. Forex: Over 70 currency pairs covering major, minor, and exotic currencies. Traders can hedge, speculate, or diversify with pairs like EUR/USD, USD/JPY, and USD/ZAR.
  2. Stocks: Global equities from major stock exchanges in North America, Europe, and Asia. Blue-chip and mid-cap stocks across multiple sectors provide ample opportunities.
  3. Indices: Traders can speculate on the performance of various economies through index CFDs like the S&P 500, FTSE 100, DAX 30, and Nikkei 225.
  4. Commodities: A range of raw materials and energy products, including gold, silver, oil, natural gas, and agricultural commodities like wheat and corn.
  5. Cryptocurrencies: It also offers a selection of popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin, along with smaller altcoins for speculative trading.

Trading Instruments

  1. CFDs: Contracts for Difference (CFDs) allow traders to speculate on asset prices without owning the underlying securities. Taurex offers CFDs across forex, indices, commodities, and cryptocurrencies.
  2. ETFs: Exchange-Traded Funds (ETFs) provide diversified exposure to markets. Traders can invest in sector-specific, regional, and thematic ETFs.
  3. Options: Options trading is available for certain forex pairs, indices, and commodities, enabling traders to employ complex strategies like straddles, spreads, and hedging.

Execution Speed and Order Types

Taurex ensures efficient trade execution through various order types:

  1. Market Orders: Traders can immediately buy or sell assets at the current market price.
  2. Limit Orders: Traders can set predefined buy/sell levels to ensure execution only at their preferred price.
  3. Stop-Loss Orders: Protects open positions by triggering a sale if the price drops to a specified level.
  4. Trailing Stops: Enables traders to lock in profits by trailing the stop level according to price movements.
  5. One-Cancels-the-Other (OCO): Combines stop and limit orders to close a position either when a profit target or a loss limit is reached.

Order Execution Table

Here’s a quick comparison of the execution speeds and order types:

FeatureDescription
Market OrdersImmediate execution at market price
Limit OrdersExecution at predefined levels
Stop-LossAutomatic sell/buy at specific loss level
Trailing StopsDynamic stop level following price
OCO OrdersSimultaneous stop and limit orders

Account Types and Requirements

Taurex caters to different trader profiles through a tiered account structure.

Account Levels

  1. Basic Account:
    • Deposit Requirements: Minimum deposit of $100
    • Features: Access to the core trading platform and educational materials.
  2. Standard Account:
    • Deposit Requirements: Minimum deposit of $500
    • Features: Enhanced charting tools, priority customer support, and reduced spreads.
  3. Premium Account:
    • Deposit Requirements: Minimum deposit of $5,000
    • Features: Access to advanced analytics, market insights, and exclusive trading strategies.
  4. VIP Account:
    • Deposit Requirements: Minimum deposit of $50,000
    • Features: Personalized account management, custom trading tools, and zero commission fees.
Discover all Types of Accounts available

Account Requirements

  • Verification Process: The company follows standard Know Your Customer (KYC) procedures to verify user identity and address. Documents such as passports, utility bills, or national IDs are required.
  • Deposits and Withdrawals: Traders can deposit or withdraw funds using bank transfers, credit cards, and digital payment solutions.

Account Comparison Table

Account LevelMinimum DepositKey Features
Basic$100Core platform, basic charting, educational tools
Standard$500Enhanced tools, priority support, reduced spreads
Premium$5,000Advanced analytics, exclusive market insights
VIP$50,000Personalized service, zero commissions

Fees and Commissions

Trading Fees

Taurex employs a transparent fee structure tailored to each asset class.

  • Forex and CFDs: A spread-based fee structure applies, with spreads ranging from 0.3 pips to 1.5 pips depending on the account level. Premium and VIP account holders benefit from reduced spreads.
  • Stock and ETF Trading: Commission fees are charged as a percentage of the transaction size. Rates are competitive compared to other brokers.
  • Options: Fixed fees apply per contract, with reductions for larger volumes.

Non-Trading Fees

  • Inactivity Fee: Dormant accounts incur a monthly fee after six months of inactivity.
  • Withdrawal Fees: Withdrawal fees depend on the payment method, typically ranging between 0.5% and 2%.

Fee Comparison Table

Fee TypeBasicStandardPremiumVIP
Forex SpreadsFrom 1.5 pipsFrom 1 pipFrom 0.5 pipsFrom 0.3 pips
Stock Commissions0.2%0.15%0.1%None
Options Fees$2/contract$1.5/contract$1/contractNone
Inactivity Fee$10/month$10/month$5/monthNone
Withdrawal FeeUp to 2%Up to 1.5%Up to 1%None

Educational Resources

Webinars and Tutorials

The broker offers an extensive series of webinars, covering everything from fundamental analysis to platform tutorials.

Webinars are categorized by skill level:

  • Beginner Webinars: Focuses on introducing key trading concepts, market trends, and platform navigation.
  • Intermediate Webinars: Delve into trading strategies, technical analysis, and economic factors affecting markets.
  • Advanced Webinars: Covers complex topics such as algorithmic trading, multi-asset portfolio management, and advanced risk strategies.

Trading Academy

Its Trading Academy offers comprehensive courses designed to equip traders with the necessary skills.

  • Fundamental Analysis: Learn how to interpret financial statements, economic data, and market news.
  • Technical Analysis: Gain proficiency in chart patterns, indicators, and trend analysis.
  • Market Psychology: Understand trader behavior, sentiment analysis, and emotional control.
  • Risk Management: Strategies to limit exposure and maintain consistent returns.

Market Insights

  • Daily Market Updates: Summarizes key market events and their potential impact on asset prices.
  • Weekly Market Analysis: Provides a deep dive into trends, macroeconomic data, and geopolitical developments.
  • Special Reports: Covers significant events like earnings seasons, monetary policy changes, and market corrections.

Educational Resource Comparison

Resource TypeDescription
WebinarsLive/on-demand training on various topics
Trading AcademyStructured courses on analysis & trading
Market InsightsDaily/Weekly summaries and reports

Customer Support

Support Channels

Taurex ensures comprehensive customer support through multiple channels.

  • Live Chat: Available directly via the platform, offering immediate assistance with technical and trading queries.
  • Email Support: Handles detailed queries and issues requiring further investigation. Responses generally occur within 24 hours.
  • Phone Support: Provides direct access to customer service representatives during business hours. Multi-lingual support caters to traders from diverse regions.

Knowledge Base

Their FAQ section covers common issues like account verification, funding methods, and trading errors. It offers self-service resources, reducing the need for direct support.

Quality of Support

  • Response Time: Live chat provides real-time resolutions, while email support is consistently responsive.
  • Competency: Support representatives display a profound understanding of the platform and financial markets, providing accurate solutions.

Regulations and Compliance

Regulatory Status

The company maintains a strong regulatory standing through compliance with multiple jurisdictions.

  • Licensing: The broker holds licenses from globally recognized financial regulatory bodies, ensuring adherence to strict standards.
  • Segregated Accounts: Client funds are held in segregated accounts to prevent co-mingling with the broker’s operational funds.

Compliance Policies

  • Anti-Money Laundering (AML): Strict AML procedures ensure compliance with global financial standards, preventing illegal activities.
  • Know Your Customer (KYC): Identity verification helps verify client backgrounds and safeguard against fraud.
  • Risk Management: Automated risk management tools and margin requirements prevent traders from overleveraging and incurring significant losses.

Regulatory Standing Comparison Table

Compliance PolicyDescription
LicensingLicensed by reputed global regulators
Segregated FundsClient deposits stored in separate accounts
AMLPrevents illegal activity via strict AML
KYCIdentity verification to prevent fraud
Risk ManagementAutomated tools for exposure control

Trading Experience

Platform Performance

  • Speed: The platform’s high-speed trade execution minimizes slippage, providing accurate trade fills.
  • Stability: Despite high trading volumes, the platform remains stable and responsive.

Community and Social Trading

  • Trader Forums: Taurex provides discussion forums where traders can exchange strategies and market insights.
  • Copy Trading: Less experienced traders can follow and copy the strategies of professional traders.

Research and Analysis Tools

  • Market Research: In-depth research reports on market trends, industry performance, and macroeconomic indicators.
  • Analytical Tools: Tools like Fibonacci retracement, moving averages, and volume indicators support technical analysis.

Trader Support

  • Trade Journals: Integrated trade journals help traders record their strategies and review past trades.
  • Risk Calculators: Tools for calculating position sizes, risk levels, and portfolio exposure.

Trading Experience Summary Table

FeatureDescription
Execution SpeedRapid trade execution with minimal slippage
Platform StabilityStable platform during peak trading
Copy TradingReplicate strategies of top traders
Analytical ToolsIndicators, retracements, and averages
Trade JournalsRecords past trades for performance review

Analysis of Competitiveness

Platform and Tools

  • Strengths: A comprehensive platform combining high-speed execution, advanced charting, and multiple order types. Customizable alerts and workspace personalization enhance the user experience.
  • Areas for Improvement: Additional asset classes like bonds and IPO access could further diversify investment options.

Fees and Commissions

  • Strengths: Transparent fees and tight spreads, particularly for higher-tier accounts.
  • Areas for Improvement: Inactivity and withdrawal fees could be more accommodating for smaller traders.

Market Research and Education

  • Strengths: Extensive educational resources and research tools cover a wide array of trading concepts and strategies.
  • Areas for Improvement: The trading academy could be expanded with more interactive content and quizzes.

Customer Support

  • Strengths: Responsive, knowledgeable support team available across multiple channels.
  • Areas for Improvement: 24/7 support would provide better coverage for international traders.

Final Thoughts

Taurex Brokerage has built a robust trading environment that balances platform usability, educational resources, and fee transparency.

Although there is room for improvement in certain areas like asset diversity and fees, its advanced trading tools, educational content, and compliance make it a compelling option for traders at all levels.

Evaluating one’s trading needs against Taurex’s offerings will be instrumental in determining if this brokerage is the right fit.

Visit Official Website: www.taurex.com

FAQ

What trading platforms does it offer?

Taurex offers both MT4 and MT5 platforms, which are known for their comprehensive trading tools and user-friendly interfaces. You can trade on desktop, mobile, or web versions.

Is Taurex a regulated broker?

Yes, the company is regulated by several authorities including the FCA (UK), CySEC (Cyprus), and ASIC (Australia).

What is the minimum deposit for opening an account?

The minimum deposit required to open an account is $100, making it accessible to a wide range of traders.

Are there any fees for deposits and withdrawals?

Taurex does not charge fees for deposits or withdrawals. However, you should check with your payment provider to ensure they don't have additional charges.

What types of accounts are available?

The broker provides various account types such as Standard, Pro, and Islamic accounts, catering to traders with different strategies and preferences.

Does Taurex offer educational resources?

Yes, it provides a rich selection of educational resources including webinars, e-books, market analysis, and video tutorials.

Does the broker offer negative balance protection?

Yes, it provides negative balance protection to ensure that traders can't lose more than their account balance.

Resources

User Reviews

“I found Taurex to be a very reliable broker. The trading platforms are highly functional and provide a seamless experience. I particularly enjoy the educational resources which have helped me refine my trading strategies.”
Michael
“Their customer support is excellent. They were quick to resolve my queries, and the chat support is available whenever needed. Spreads are low, which is great for my trading style.”
Sophie
“Although the platform is user-friendly, I wish Taurex had weekend customer support. Still, the range of tradable assets and the CopyTrading feature are impressive!”
James
“I’ve been trading with them for over a year now. The MT5 platform is my favorite, and I’m happy with the low spreads and efficient execution times.”
Emma
“The deposit and withdrawal process is smooth and quick. Cryptocurrency withdrawals take longer than other methods, but Taurex is generally great for trading crypto.”
David

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Last updated: May 22, 2024