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Last updated October, 2024

Taurex Overall rating

4.3
Ranked 45 out of 827 (Forex Brokers)
Overall rating is derived from an aggregate of ratings in multiple categories.
Rating Weight
Popularity
3.7
3
Regulation
5.0
2
Pricing rating
4.5
1
User Rating
Not rated
3
Features
Not rated
1
Customer Support
Not rated
1

Taurex is a relatively new player in the forex and CFD brokerage industry, established in 2023. Despite its recent entry, the broker has quickly gained attention due to its competitive leverage offerings and a broad range of tradable instruments, including forex, cryptocurrencies, and stock CFDs.

Taurex operates under two regulatory bodies: the Seychelles Financial Services Authority (FSA) and the UK Financial Conduct Authority (FCA), providing traders with different levels of protection depending on their location. With a strong web presence and popular trading platforms like MetaTrader 4 and MetaTrader 5, Taurex is an appealing option for both retail and professional traders.

Pros

  • Licensed by Seychelles FSA and UK FCA.
  • Offers MetaTrader 4 and MetaTrader 5 platforms.
  • High leverage available for retail clients (up to 1000:1).
  • Large variety of stock CFDs with over 900 instruments.
  • Competitive spreads across several asset classes.
  • High popularity ranking for web traffic and account openings.
  • Supports automated trading through MetaTrader platforms.

Cons

  • No publicly available financial statements.
  • No investor compensation scheme for clients under Seychelles regulation.
  • Limited customer reviews and ratings due to the broker's recent launch.
  • Does not offer ETF, bond, or futures CFDs.
* On October 17, 2024

We tested Taurex using real-money live accounts. Our reviews are unique in that they do not have any bias for or against any broker and are driven purely on the underlying data we compile from live account testing, regulatory data, and opinions from customers. We list all brokers and do not charge a fee for it. We offer additional visibility for a fee, but our review content cannot be influenced. Read our About Us page to read our editorial guidelines and how we make money.

Taurex Profile

Company Name Zenfinex Global Limited
Categories Forex Brokers, Cryptocurrency Brokers
Primary Category Forex Brokers
Year Founded 2023
Headquarters United Kingdom
Account Currency USD
Support Languages Arabic, Chinese, English, Malay, Spanish, Thai, Vietnamese
Funding Methods Bank Wire, Bitcoin, Credit/Debit Card, Neteller, Skrill, Ethereum
Financial Instruments Forex, Shares, Indices, Oil/Energies, Cryptocurrencies, Metals, Soft Commodities (coffee, sugar...)
Prohibited Countries United States
24 hour support
Segregated Accounts
Islamic Accounts
Accepts Canadian clients
Accepts Japanese Clients
Non expiring demo
Trading API
Cent accounts
Negative balance protection
Social trading
Regulatory deposit insurance
Trailing stops
Bonuses
Interest on margin
Fixed spread
Variable spread

Trustworthiness & Regulation

* On October 17, 2024

Taurex, launched in 2023, is regulated by the Seychelles Financial Services Authority (SC FSA) and the UK’s Financial Conduct Authority (FCA). While the broker is relatively new, it has garnered a strong web presence, ranking 83rd in organic traffic among 830 forex brokers. Despite its newness, the broker operates under a robust regulatory framework, particularly in the UK, where it offers segregated client funds, deposit insurance, and negative balance protection. It's important to remember that even highly regulated firms have failed in the past, so traders should remain cautious.

Company Licenses & Regulations Segregated Client Money Deposit Compensation Scheme Negative Balance Protection Rebates Max. Leverage Retail Clients
Zenfinex Limited up to £85,000 30 : 1
Zenfinex Global Limited 1000 : 1

Deposit Insurance

Taurex offers deposit insurance through its UK FCA regulation. Under the FCA, client deposits are protected up to £85,000 through the Financial Services Compensation Scheme (FSCS). However, clients trading under the Seychelles FSA do not receive the same protection, as this entity does not provide an investor compensation scheme. Taurex does offer segregated accounts for all clients, ensuring that client funds are kept separate from the company's operating funds.

Taurex Account types

  Standard Zero Pro Zero RAW
Maximum leverage1000:1
Mobile PlatformMT4 Mobile, MT5 Mobile, Proprietary
Trading platformMT4, MT5, Proprietary
Spread TypeVariable Spread
Minimum Deposit100500
Minimum Trade Size0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts
  Standard Zero
Maximum leverage 1000:1
Trading platform MT4MT5Proprietary
Mobile platform MT4 MobileMT5 MobileProprietary
Spread type Variable Spread
Minimum deposit 100
Minimum Trade Size 0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts
  Pro Zero
Maximum leverage 1000:1
Trading platform MT4MT5Proprietary
Mobile platform MT4 MobileMT5 MobileProprietary
Spread type Variable Spread
Minimum deposit 500
Minimum Trade Size 0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts
  RAW
Maximum leverage 1000:1
Trading platform MT4MT5Proprietary
Mobile platform MT4 MobileMT5 MobileProprietary
Spread type Variable Spread
Minimum deposit 500
Minimum Trade Size 0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

Spreads and Costs

* On October 17, 2024

Taurex provides competitive spreads across several asset classes, including forex, cryptocurrencies, stocks, indices, and commodities. When comparing the averages across asset classes, Taurex's spreads are in line with the market leading brokers such as IC Markets, Pepperstone, and Axi.

Swap Rates/Financing Fees

Swap rates represent the overnight financing fees charged on positions held overnight. Positive swap rates are paid out, while negative swap rates cost money. Taurex's average swap rates are generally in line with the industry-leading brokers such as IC Markets and Pepperstone. While swap fees vary by instrument, the broker provides competitive rates that compare well to market leaders.

Islamic/Swap-free Accounts

Islamic accounts, or swap-free accounts, allow traders to hold positions overnight without paying or receiving interest, in line with Sharia law. Taurex offers swap-free Islamic accounts for clients, but this feature is available only upon request. Clients must meet specific criteria and provide the necessary documentation to qualify for an Islamic account.

Other Fees

In addition to spreads, commissions, and swap fees, Taurex charges other fees, including withdrawal and inactivity fees. Inactivity fees are applied if no trading activity is detected for a period of six months, and withdrawal fees depend on the payment method chosen by the client. Bank wire transfers, for instance, may carry higher fees compared to electronic payment options.

Fee Type Amount
Withdrawal Fee Varies by method
Inactivity Fee $10 after 6 months

Comparison to other Brokers

* On October 17, 2024

When compared to industry-leading brokers like IC Markets and Pepperstone, Taurex offers competitive pricing, especially in terms of leverage and spreads. However, Taurex lacks the extensive regulatory framework of long-established brokers and is relatively new to the market. Its range of instruments, including over 900 stock CFDs and 19 cryptocurrency CFDs, is impressive, but the absence of ETFs and bonds may deter some traders.

Trading Platforms

Taurex offers MetaTrader 4 and MetaTrader 5 across desktop, mobile, and web platforms. Additionally, the broker provides a proprietary mobile trading app called the Taurex Trading App. All platforms support automated trading, with MetaTrader platforms allowing the use of Expert Advisors (EAs) that can be programmed in MQL4 or MQL5.

Available Instruments

Taurex offers a wide range of instruments across multiple asset classes, including forex, cryptocurrencies, stocks, indices, and commodities. However, it does not offer ETFs, bonds, or futures. All instruments are traded as CFDs (Contracts for Difference), meaning traders do not own the underlying assets. Instead, they speculate on price movements with the added benefit of leverage, allowing them to control larger positions with a smaller capital investment. Leverage amplifies both potential profits and losses.

Asset Class Number of Instruments
Forex CFD 30+
Crypto CFD 19
Stock CFD 900+
Stock Index CFD 15
Commodities CFD 15

Leverage

Taurex offers high leverage of up to 1000:1 for clients trading under Seychelles FSA regulation, while clients under UK FCA regulation can only access leverage up to 30:1. Leverage varies depending on the instrument, with lower leverage available for more volatile instruments like cryptocurrencies.

Prohibited Countries

Taurex cannot open client accounts for residents of certain countries, including the United States, Canada, Japan, and Iran, due to regulatory restrictions.

Education

Taurex offers a range of educational resources, including webinars, trading tutorials, and market analysis. Taurex's resources are designed to help both beginners and advanced traders enhance their knowledge and skills in financial markets.

Promotions

It's recommended to check Taurex's website for the latest offers as these may vary by region and account type.

Taurex User Rating

0.0

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Taurex Regulation / Money Protection

5.0
Company Licenses & Regulations Segregated Client Money Deposit Compensation Scheme Negative Balance Protection Rebates Max. Leverage Retail Clients
Zenfinex Limited up to £85,000 30 : 1
Zenfinex Global Limited 1000 : 1

Taurex Symbols

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