Taurex Review 2025

Trust

Taurex Regulators

In our reviews, we examine the licenses and regulations of each entity operated by a broker, allowing us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.

This is what I discovered about the four entities operating under the Taurex trade name:

• Zenfinex Global Ltd is licensed and regulated by the Seychelles Financial Services Authority (FSA) under license number SD092. We rate the FSA as a Tier-3 regulator.
• Zenfinex Limited is licensed and regulated in the UK by the Financial Conduct Authority (FCA) under license number license number 816055. We rate the FCA as a Tier-1 regulator.
• Stochastic Africa (SL) Ltd is licensed by the Central Bank of Sierra Leonne (CBSL) with company number SL270319STOCH05271. We rate the CBSL as a Tier-3 entity.
• Zenfinex Global LLC is registered in St. Vincent & the Grenadines with the Financial Services Authority (FSASVG) under register number 138 LLC 2019. The entity is not regulated.

Understanding the Regulatory Protections of Your Account

Brokers operate multiple entities because it allows them to serve clients worldwide. However, licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection.

Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders must familiarize themselves with the safety mechanisms ensured by the entity they want to open an account.

Here is what you need to be looking for in a broker in terms of safety mechanisms:

• Segregation of client funds. Keeping client funds in segregated bank accounts from the ones used for the broker’s corporate capital negates the risk of accounting errors. Zenfinex Global Limited, Zenfinex Limited, and Stochastic Africa (SL) Ltd ensure the segregation of client funds.
• Negative balance protection. This safety mechanism removes the risk of trading losses exceeding the account balance. In other words, the losses you incur from trading are capped at the amount you have put in your trading account. Negative balance protection is only available with the FCA-regulated entity.
• Compensation scheme. A compensation scheme protects traders against the broker’s liabilities if the company becomes insolvent. Zenfinex Limited is the only entity that provides access to such a compensation scheme. Its clients are protected by up to GBP 85,000 under FSCS.
• Maximum leverage. Capping the maximum leverage restricts the extent of market exposure to retail traders. The higher the leverage, the higher the potential profits and potential losses. The maximum leverage with Taurex is 1:2000, which is available with Zenifnex Global Limited and Stochastic Africa (SL) Ltd.

Stability and Transparency

In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and information transparency.

Taurex’s website provides live spread data for 18 widely traded instruments, including currency pairs, metals, energies, and stocks. Expanding this data to cover all available instruments would allow potential clients to fully assess the costs before opening an account and downloading the platform.

The broker also operates on a ‘best execution policy,’ meaning it takes all necessary steps to provide its clients with the most optimal price quotes under prevailing market conditions. This is crucially important for ensuring price transparency.

Is Taurex Safe to Trade With?

I concluded that Taurex can be considered generally safe due to the following factors:

• Possesses one Tier-1 regulation
• Has a ‘best execution policy’
• Very high maximum leverage at 1:2000

Fees

Taurex Trading Fees

Taurex Spreads

I tested Taurex’s spreads on 6 May 2024 during the London and the New York open. The results are shown in the table below:

Broken down by asset class and compared to the industry average, Taurex offers low spreads on cryptocurrencies, low-to-average spreads on indices, average spreads on share CFDs, average-to-high spreads on commodities, and high spreads on currency pairs.

Taurex Swaps

A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

The values listed below are for one full base currency contract (100,000 units).

My findings indicate that the broker charges average-to-high swaps compared to the industry average. This combination is not particularly suitable for longer-term trading strategies (swing trading and position trading).

Taurex’s Non-Trading Fees

The broker does not charge a handling fee for deposits or withdrawals, though third-party banking fees may apply. However, an inactivity fee of $20 is charged for dormant accounts. It is activated after 90 calendar days of inactivity and charged monthly until activity resumes or the account balance drops to zero.

Accounts Comparison

I have compiled the table below to help you better understand the difference between the trading fees of Taurex’s three account types and the industry average. It illustrates the spreads and commissions I have recorded for the EUR/USD pair and compares them against the typical costs for ECN and STP accounts in the industry at large.

The table demonstrates how much you would have to pay to trade 1 full lot (100,000 units) in EUR/USD with a pip value of $10 for each account.

To calculate the cost of such a full-sized trade, I used this formula: Spread x pip value+commission

According to my findings, the Standard Zero and Pro Zero accounts have fees that exceed the industry average. Conversely, the Raw account stands out as the only exception; its combination of spreads and commissions is below the industry average for STP accounts and aligns with it for ECN accounts. Additionally, the Raw account features a relatively affordable minimum deposit requirement of $500.

Are Taurex’s Fees Competitive?

It largely depends on the underlying account type and the traded asset class. I assessed that Taurex offers favorable fees for trading indices and cryptocurrencies. However, that is not the case for currency pairs and commodities.

Platforms and Tools

Taurex MetaTrader 5 Desktop

I tested the desktop version of the MetaTrader 5 platform, which features multiple essential tools, such as one-click trading, an alarm setting option, and a market depth tool. These allow traders to examine various market developments from different angles and to exploit the underlying trading opportunities in multiple ways.

MT5 is arguably best suited for automated trading via its Expert Advisors (EAs) feature. The platform also has an intuitive strategy tester, allowing experienced algo traders to tweak the parameters of their strategies so that they can be used under different market conditions. For low-latency algorithmic trading, clients of Taruex can take advantage of the broker’s FIX API, affording execution speeds of below 2 milliseconds. –

General Ease of Use

MT5’s layout is pretty straightforward. Account info is displayed at the bottom of the screen; charts occupy the middle portion of the window; a watch list of selected instruments and tools screen is positioned on the left side of the window; and a panel with various settings and configurations can be found at the top of the window.

Charts

I consider the charts screen a platform’s most important feature. It facilitates technical analysis by providing an overview of price action behavior. Chart artists use many analytical tools and chart configuration possibilities to examine it from multiple angles. In my experience, the really important aspect of a chart is how easy it is to scale price action up and down.

As shown above, the problem with MetaTrader is that the charts can be crowded quite easily, even when we add no more than 2 indicators. This obscures price action behavior and makes it more difficult to conduct probing technical analysis.

I have broken down the available analytical tools and chart configurations below:

• 38 technical indicators. The platform supports trend-based, volume-based indicators, oscillators, and more. These can be applied to study price action behavior and determine the underlying market sentiment. In general, technical indicators are used to gauge where the market is likely to head next.
• 24 drawing tools. Drawing tools, such as Fibonacci retracement levels and Elliott waves, are used to study repeatable price patterns. Additionally, they can be applied to determine key support and resistance levels and potential breakout or breakdown levels. Despite the rather big collection of drawing tools, the ruggedness of MT5 makes it difficult to discern price action behavior.
• 21 timeframes. One of the standout features of MetaTrader 5 is its vast array of timeframes. MT5 allows multi-timeframe analysis of price action behavior. The greater the timeframes, the more intricate examinations can be carried out across the short-term and long-term.
• 3 chart types. Price action can be represented as a line, bars, or candlesticks. This diversity makes it possible to examine potential trading opportunities from different angles.

Orders

Trades can be placed in several ways on the MetaTrader 5 platform. For instant entries at the current spot price, traders can use the one-click trading feature (top-left corner on the image below). Alternatively, they can click ‘New Order’, found on the main panel, and then choose between ‘Exchange Execution’ (market orders) and ‘Pending Order’ (limit and stop orders).

I have broken down the available order types on the MetaTrader 5 platform below:

• Market orders. Market orders are used for immediate entry at the best possible price. If triggered, they guarantee volume filling, though there could be a discrepancy between the requested price and the price where the order gets filled.
• Limit orders. Unlike market orders, limit orders guarantee exact price execution. However, a limit order will not be filled if the price action does not reach the pre-determined execution price.
• Stop orders. They are used to support open positions by limiting the maximum loss that can be incurred if the market turns in the opposite direction. A stop-loss order is placed at a fixed price below or above the spot price. If the market does indeed turn and triggers the stop-loss, it will transform into a market order and get filled at the best possible price.

MT5 Desktop: My Key Takeaways

In my opinion, MT5 is a good option for fast and simple order execution. On the other hand, its dated and rugged design falls short compared to newer, sleeker platforms. As a trader who prioritizes flexible chart scaling, I find MT5’s charting capability too rigid and less effective.

Taurex Mobile MT5 App

Taurex’s mobile app affords quick and easy access to the market on the go. It’s very useful for opening, terminating, and adjusting open positions. Therefore, the app’s most important function is to allow traders to adjust their market exposure at all times.

My Key Takeaways After Testing Taurex’s Mobile App

The mobile app version of MetaTrader 5 shares the same underlying issue as the desktop version. It feels rather cumbersome and, therefore, not suitable for carrying out penetrating price action examinations. The problem stems from the fact that the app has to be run on low-resolution devices, which do not afford wide overviews of price action behavior.

Taurex’s Order Execution

As shown above, Taurex achieves average execution speeds ranging between 58 milliseconds and 381 milliseconds, depending on the access server. With the help of a Virtual Private Server (VPS), which can be purchased from third-party services, traders can achieve much faster execution speeds of around 0.77 milliseconds, which are suitable for scalping.

Tradable Instruments

Compared to the industry average, Taurex offers an average amount of currency pairs and cryptocurrencies, and a high amount of commodities, share CFDs, and indices.

What Are CFDs?

Contracts for difference (CFDs) are derivatives used to speculate on the underlying asset’s price without physical delivery.

For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars.

One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.

What Can You Trade With Taurex?

Taurex’s Instruments: My Key Takeaways

Taurex offers a massive range of tradable instruments, allowing for the execution of most types of trading strategies. What I also appreciated was the diverse offering of commodities, such as metals, energies, and agricultural instruments.

There are also quite a few share CFDs of US, German, and British companies. This offering is specifically tailored for stock traders. I think more variety, such as ETFs, futures, options, and more, would greatly benefit Taurex.

Customer Support

Customer Support Channels

Customer Support Test

When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.

I conducted my test on 7 May 2024 at around 10:13 a.m. CET via live chat. An agent connected almost instantaneously to the chat. She was very polite and responsive to my questions.

Initially, I asked about Taurex’s deposit and withdrawal fees and received a fast and clear answer. When I inquired about Taurex’s margin policy, the agent took about a minute to respond. For my most difficult question regarding the broker’s FIX API offering, the agent offered to connect me with an expert. Later, the account manager assigned to me facilitated this connection.

Overall, my impression of Taurex’s customer support is predominantly positive. They do seem to have a good grasp of the essentials but struggle with more complex questions.

Deposit and Withdrawal

Taurex Deposit Methods

Taurex Withdrawal Methods

Account Types and Terms

Taurex Account Opening Process

To create an account with Taurex, follow these easy steps:

1. Click ‘Open Account’ at the top-right corner of the main page.
2. Fill in your personal details, including your name, email address, password, and country of residence.
3. State your date of birth, nationality, and physical address.
4.  Provide your employment and financial information.
5. Agree to the terms and conditions.
6. Confirm your email address.
7. Upload proof of ID and proof of address to verify your account.

Taurex Account Types

Based on my research, the Taurex Raw account offers the most favorable trading conditions. Its slightly higher minimum deposit requirement is still average for the broader industry.

What is noteworthy about Taurex’s account types is that margin calls are set at 100%, and stop-out levels are set at 50%. Traders will only receive a notification to deposit additional funds or close out their losing trades after their free margin is depleted, which poses a significant risk. However, the broker will automatically close their losing positions relatively quickly thereafter. It’s important to note that most brokers set their stop-out levels at around 30%.

Demo Accounts

Taurex offers demo accounts that introduce traders to the broker’s services and allow them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account for yourself alongside your live CFD account.

Islamic Account

The broker also offers Islamic accounts for swap-free trading, as mandated under Shariah law. Traders who want to open an Islamic account must contact Taurex’s customer support and request the service.

What is CFD Leverage?

Leverage determines a trader’s overall market exposure. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of leverage. Essentially, the broker lends the trader money so that the latter can open bigger positions. Leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades.

Maximum Leverage By Asset Class

In the table below, I have listed the maximum retail leverage available with Taurex for instruments from different asset classes:

Taurex Accepted Countries

Taurex does not accept clients from the United States, Canada, North Korea, Iran, Belgium, Japan, or any particular country or jurisdiction where trading with financial derivatives is prohibited by law.

Research

Research Tools

I have broken down the available research content by type below:

• Economic calendar. The economic calendar is an essential tool in a trader’s arsenal. It informs traders of upcoming market events and releases that have the potential to stir price action, thereby creating viable trading opportunities.
• Market insights. Developed in-house by Taurex market experts, the market insights give traders a broad breakdown of current economic and financial developments and inform them of weekly trading opportunities. The one drawback is that they are not published regularly.
• Market sentiment. Acuity’s AI-powered market sentiment tool allows traders to assess the constantly changing market movements. The tool tracks the continually changing buying and selling dynamics on instruments across different asset classes.
• Trading Central suite. Clients of Taurex can also access content from the seamless Trading Central – one of the biggest and most trusted signal providers in the industry. The service provides actionable trading ideas, including technical breakdowns and important price levels (take-profits, stop-losses, etc.).

Education

Taurex has published more than sixty educational videos and webinars on its YouTube channel, available in English, Arabic, and Spanish. These cover basic topics related to technical analysis and different trading strategies. There are also several videos explaining how to use the MetaTrader platform.

The broker’s score dropped in this category because of lack of diversity. Taurex would improve its educational section by adding some course, guides, and written articles.

The Bottom Line

Taurex was founded in 2017 and operates four entities. One of them is regulated by the FCA UK and provides the strongest client protection, while the other three entities are regulated offshore and do not offer the full package of essential safety measures.

The broker offers over 1500 tradable instruments across most major asset classes that are available via MetaTrader 4 and MetaTrader 5 platforms.

Taurex provides a very high leverage of 1:2000 on forex and indices, along with FIX API and a copy trading feature. It also stands out with its comprehensive research content, which includes in-house materials and third-party providers such as Acuity and Trading Central. On the other hand, Taurex’s fees on the Standard account exceed the industry average.

In conclusion, I would say that Taurex can be a good fit for casual trading, copy trading, and automated trading.

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