Updated as of: April 29, 2025
User Reviews and Opinions
Frequently Asked Questions
Is Taurex regulated?
Yes, Taurex is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa and the Cyprus Securities and Exchange Commission (CySEC).
What is the minimum deposit required to open an account with Taurex?
The minimum deposit required to open an account with Taurex is $100.
Does Taurex offer a demo account?
Yes, Taurex offers a demo account for new traders to practice with virtual funds.
What trading platforms does Taurex support?
Taurex supports MT4 and MT5 trading platforms.
Is there an Islamic account option available at Taurex?
Yes, Taurex offers Islamic accounts for traders who follow Sharia law.
How can I contact Taurex customer support?
You can contact Taurex customer support through live chat, email, phone, and social media.
Does Taurex offer bonuses or promotions?
Yes, Taurex offers welcome bonuses and deposit bonuses.
How long does it take to withdraw funds from Taurex?
Withdrawals from Taurex typically take 1-3 business days to process.
What leverage does Taurex offer?
Taurex offers leverage of up to 1:500 depending on the account type.
Does Taurex have a mobile trading app?
Yes, Taurex has a mobile trading app available on both Google Play Store and Apple App Store.
Resources
Get To Know Our Team
The following team members have contributed to writing, editing, reviewing, and verifying the information in this article:
Arnold K.
Arnold is a financial journalist specializing in Forex and brokers. With a Bachelor of Science in Graphic Communication & Advertising, he blends creativity and analytical insight in his work. Arnold is known for his detailed analyses of forex markets and broker performance, emphasizing strategic decision-making in trading. His writing, featured on many platforms, aims to educate readers on navigating forex complexities. Passionate about technology and continuous learning, Arnold remains a trusted voice in the financial sector.
Oluwapelumi A.
Oluwapelumi A. is a financial journalist specializing in brokers and cryptocurrency. He holds a Higher National Diploma from The Polytechnic, Ibadan. As an independent journalist, his work has been published on premier broker sites, providing insightful analyses on broker performance and market trends. His investing style focuses on dollar-cost averaging, and his expertise includes Bitcoin, Ethereum, Cardano, and Algorand. A firm believer in the transformative power of Bitcoin and blockchain, Oluwapelumi shares knowledge on how these technologies can shape the future financial system. Outside of writing, he enjoys meeting new people and exploring new experiences.
Adetola F.
Adetola is a financial journalist and market analyst. He holds a B.Sc. in Educational Media and Technology from the University of Ilorin. Specializing in swing and position trading, Adetola has expertise in currencies, cryptocurrencies, gold, and stocks. Known for his consistent performance and extensive experience, he has trained numerous successful students worldwide. Adetola frequently publishes articles, educational videos, and live market reviews to help others navigate the complexities of financial markets.
Top Brokers
Updated as of: April 29, 2025
Taurex
Disclaimer: This information should not be distributed or used in any country where it would violate local laws or regulations.
Top Brokers
Pros and Cons
- Regulated by FSCA and CySEC.
- Low spreads and fast execution speeds.
- Wide range of trading assets including Forex, Commodities, and Cryptocurrencies.
- 24/7 customer support with various contact methods.
- Islamic accounts available.
- Comprehensive educational resources and market analysis tools.
- Welcome and deposit bonuses.
- No proprietary platform available.
- ZuluTrade not supported.
- Limited local payment methods for deposits and withdrawals.
Introduction to Taurex Broker
In the competitive world of forex and CFD trading, Taurex has emerged as a versatile and innovative broker, offering services designed to appeal to both novice and experienced traders.
Catering specifically to the African market, Taurex provides a range of account types, competitive spreads, and cutting-edge trading platforms, allowing traders to access global markets with ease.
Established with a commitment to transparency and customer satisfaction, Taurex has steadily built a reputation for reliability and accessibility.
This comprehensive review will delve into all aspects of Taurex, examining its regulatory status, account offerings, trading platforms, and the resources it provides to support traders on their financial journey.
With Africa becoming a focal point for financial services, brokers like Taurex are stepping up to meet the growing demand for accessible and secure trading platforms.
By addressing the unique needs of the African market, including flexible deposit options, educational resources, and local customer support, Taurex is positioning itself as a strong choice for traders in this region.
In this review, we will explore whether Taurex lives up to its promises and how it compares to other brokers catering to African traders.
Open a free accountRegulation and Security
When choosing a forex broker, regulatory oversight is a critical factor that can ensure the safety and transparency of trading activities.
Taurex operates under multiple regulatory bodies, which helps build credibility and trust among its clients.
The broker’s adherence to strict compliance standards safeguards client funds and provides a level of transparency that is reassuring for traders, especially those in emerging markets where broker reliability is paramount.
Taurex employs several security measures to protect client funds and personal information.
This includes data encryption, secure payment gateways, and segregated accounts that separate client funds from the broker’s operating capital. Such practices are essential to maintaining trust and protecting traders against potential financial misconduct.
Account Types and Features
To cater to a diverse client base, Taurex offers several account types, each tailored to meet specific trading needs.
From beginners looking for a low-cost entry into forex trading to experienced traders requiring advanced tools and competitive pricing, Taurex has structured its accounts to appeal to a wide range of traders.
Standard Account
The Standard Account is ideal for new traders seeking to familiarize themselves with the forex and CFD markets without a large initial investment.
This account type comes with low minimum deposits, variable spreads, and commission-free trading, making it accessible to those who want to test trading strategies or learn more about the markets.
The Standard Account also includes access to educational resources, a feature that benefits beginners in particular.
Pro Account
The Pro Account is designed for experienced traders who prioritize lower spreads and faster execution speeds.
With tighter spreads than the Standard Account and a small commission per trade, this account type is suitable for those who trade larger volumes and need more advanced trading features.
Additionally, the Pro Account offers access to market analysis tools, giving traders the insights they need to make informed trading decisions.
VIP Account
For high-net-worth individuals and institutional clients, the VIP Account offers premium features, including the tightest spreads, priority customer support, and exclusive access to advanced research tools.
VIP account holders benefit from a dedicated account manager and customized trading solutions that are tailored to meet their specific needs.
This account type requires a significantly higher minimum deposit, but it provides the best trading conditions that Taurex has to offer.
Trading Platforms Offered by Taurex
Taurex provides access to industry-leading trading platforms that cater to different types of traders.
Each platform is equipped with powerful tools for analysis and trade execution, ensuring that users have everything they need to navigate the markets successfully.
The platforms available at Taurex include MetaTrader 4 (MT4), MetaTrader 5 (MT5), and the Taurex WebTrader.
MetaTrader 4 (MT4)
MT4 is widely regarded as the gold standard in forex trading platforms.
Taurex’s MT4 platform includes all the features that traders have come to expect, such as customizable charts, technical indicators, and support for automated trading through Expert Advisors (EAs).
This platform is particularly popular with forex traders due to its user-friendly interface and extensive functionality.
MetaTrader 5 (MT5)
MT5 offers all the benefits of MT4 with additional features, including more timeframes, more order types, and an improved economic calendar.
Taurex’s MT5 platform is designed for experienced traders who require more analytical tools and flexibility.
It also supports trading in a wider range of asset classes, making it a versatile choice for diversified traders.
Taurex WebTrader
For traders who prefer not to download software, the Taurex WebTrader provides a convenient alternative.
This browser-based platform maintains all the core features available on MT4 and MT5, with the added benefit of accessibility from any device with an internet connection.
The WebTrader is optimized for speed and ease of use, making it ideal for traders who need to manage their accounts on the go.
Trading Instruments Available
Taurex offers a broad range of trading instruments, allowing traders to diversify their portfolios across various asset classes.
Below is a breakdown of the different asset categories available through Taurex.
- Forex: A wide selection of major, minor, and exotic currency pairs are available, catering to traders who wish to speculate on global currency movements.
- Commodities: Taurex provides access to popular commodities like gold, silver, oil, and natural gas, offering traders opportunities in markets known for their volatility and liquidity.
- Indices: Traders can access major global indices, including the S&P 500, FTSE 100, and DAX 30, allowing them to speculate on broader market trends rather than individual stocks.
- Cryptocurrencies: Taurex offers trading in popular cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, appealing to those interested in the rapidly growing crypto market.
- Stocks: A selection of stocks from major global exchanges provides opportunities for equity trading, with shares from well-known companies across various sectors.
Fees and Spreads
One of the primary considerations for any trader is the cost of trading, which includes spreads, commissions, and other fees.
Taurex is committed to transparency in its fee structure, providing clear information on trading costs associated with each account type.
- Spreads: Spreads at Taurex vary based on account type. Standard account holders enjoy competitive variable spreads, while Pro and VIP accounts benefit from even tighter spreads.
- Commissions: While the Standard Account is commission-free, Pro and VIP accounts include a per-lot commission, which is common among brokers who offer lower spreads as a trade-off.
- Swap Fees: For positions held overnight, swap fees may apply. Taurex provides a transparent view of its swap rates, and Islamic (swap-free) accounts are available upon request.
Deposit and Withdrawal Options
Taurex offers a variety of deposit and withdrawal methods to ensure accessibility for its clients, particularly in regions where certain payment methods are preferred.
African traders, for instance, will find a range of options designed to meet their specific needs, from traditional bank transfers to digital payment solutions.
- Bank Transfers: Suitable for large transactions, although processing times may vary based on the bank.
- Credit/Debit Cards: A widely used and instant method, allowing traders to start trading quickly after funding their accounts.
- E-wallets: Options such as Neteller and Skrill offer fast and secure transactions, providing a convenient alternative to traditional banking.
- Cryptocurrencies: Taurex supports cryptocurrency deposits, making it an attractive choice for users who prefer blockchain-based transactions.
Customer Support
Effective customer support is crucial for ensuring a positive trading experience, and Taurex offers multiple channels to assist its clients.
Traders can reach Taurex’s customer service team via live chat, email, and phone.
Support is available 24/5, aligning with global trading hours to ensure help is on hand during peak times.
Additionally, the support team is knowledgeable in addressing issues related to account management, technical issues, and general inquiries.
Visit the official website: www.taurex.comEducational Resources and Market Analysis
For traders at all levels, Taurex provides a wealth of educational materials designed to enhance trading knowledge and skills.
The broker’s educational offerings include:
- Video Tutorials: Step-by-step guides on platform use and trading strategies.
- Webinars: Regularly scheduled webinars cover a variety of topics, from market analysis to advanced trading techniques.
- Articles and E-books: Comprehensive materials on forex basics, trading psychology, and technical analysis.
Advanced Trading Tools and Features
Taurex equips traders with a suite of advanced trading tools, particularly appealing to those who seek to gain deeper insights into market trends and employ sophisticated strategies.
Here are some of the key tools available to Taurex clients:
- Trading Signals: With real-time trading signals integrated into the platform, Taurex provides actionable insights based on technical indicators. These signals are ideal for traders who rely on data-driven analysis to make informed decisions, offering buy and sell suggestions based on market momentum and trend analysis.
- Copy Trading: For novice traders or those who prefer a less hands-on approach, Taurex offers a copy trading feature. This allows users to follow and replicate the trades of seasoned professionals, giving beginners a chance to learn from experienced traders and potentially profit from their expertise.
- Automated Trading with Expert Advisors (EAs): Through the MT4 and MT5 platforms, traders can utilize Expert Advisors (EAs) to automate their strategies. This is particularly beneficial for experienced traders who have developed algorithmic trading strategies or for those who want to take advantage of market opportunities around the clock without needing to be physically present.
Risk Management Features
Effective risk management is crucial in trading, and Taurex has integrated various features to help traders mitigate potential losses and manage their positions with confidence.
The platform offers several risk management tools:
- Stop-Loss and Take-Profit Orders: Traders can set stop-loss and take-profit levels on their trades to automatically close positions when certain profit targets or loss thresholds are reached. This feature is essential for protecting against unexpected market movements and locking in profits.
- Negative Balance Protection: Taurex provides negative balance protection, ensuring that clients cannot lose more than their account balance. This is particularly reassuring for beginners and helps reduce the financial risk associated with leveraged trading.
- Trailing Stops: This feature allows traders to set a dynamic stop-loss order that adjusts automatically with the market movement. Trailing stops are beneficial for securing profits as they allow positions to stay open while the market moves favorably, closing them only if the market reverses by a certain amount.
Mobile Trading Capabilities
In today’s fast-paced world, mobile accessibility is key to trading success.
Taurex offers a fully optimized mobile application, allowing traders to monitor markets, place trades, and manage their accounts from their mobile devices.
The app is available on both iOS and Android platforms and includes most of the core features available on the desktop version, such as charting tools, indicators, and real-time alerts.
The mobile app is designed with user experience in mind, featuring a clean interface and intuitive navigation.
With the ability to execute trades from anywhere, Taurex’s mobile application is a valuable tool for traders who want to stay connected to the markets and respond to price movements in real-time, no matter their location.
Trading Strategies Supported by Taurex
Taurex is flexible with trading strategies, accommodating a variety of approaches that suit different trader profiles.
This flexibility makes Taurex attractive to a diverse range of traders, from day traders to long-term investors. Some of the supported strategies include:
- Scalping: Taurex allows scalping, where traders aim to make quick profits from small price movements. This strategy requires fast execution speeds, and Taurex’s advanced infrastructure supports this by providing minimal slippage.
- Day Trading: Traders who open and close positions within the same day can take advantage of Taurex’s tight spreads and access to global markets. Day trading is suitable for those who prefer not to leave positions open overnight.
- Position Trading: For traders who prefer a longer-term approach, position trading allows them to hold onto assets for extended periods, often based on fundamental analysis. Taurex provides various analytical tools that help position traders analyze trends and economic indicators.
Pros and Cons of Trading with Taurex
Like any broker, Taurex has its strengths and potential areas for improvement.
Below is a summarized view of the pros and cons of trading with Taurex.
| Advantages | Disadvantages |
|---|---|
|
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Final Thoughts on Taurex Broker
Taurex has positioned itself as a robust and accessible broker for African traders, offering a range of tools and services that cater to varying levels of experience.
With regulatory oversight, flexible account types, and a commitment to customer security, Taurex presents a reliable choice in the ever-competitive forex and CFD market.
The broker’s focus on providing educational resources and technical tools for risk management reflects its commitment to helping traders succeed in the long term.
While there are areas for potential enhancement, such as expanding physical support services, Taurex’s comprehensive platform offerings, competitive fee structure, and flexibility make it a compelling option for traders in Africa.
Taurex meets the needs of traders who prioritize security, platform diversity, and access to global markets, positioning it as a trustworthy partner in the trading journey.
Visit the official website: www.taurex.comBroker Comparison Table
This table provides a comprehensive comparison of Taurex with other leading brokers, focusing on key aspects such as demo account availability, minimum deposit requirements, regulatory bodies, trading platforms, leverage options, and payment methods.
This comparison aims to assist traders in making informed decisions by highlighting the features and offerings of each broker.
| Broker | Demo Account | Minimum Deposit | Regulators | Platforms | Leverage | Payment Methods | Visit |
|---|---|---|---|---|---|---|---|
| Taurex | Yes | $100 | FSA | MT4, MT5 | Up to 1:500 | Bank Transfer, Credit/Debit Card, E-wallets | Visit Taurex |
| xChief | Yes | $10 | IFSC | MT4, MT5 | Up to 1:1000 | Bank Transfer, Credit/Debit Card, E-wallets | Visit xChief |
| JustMarkets | Yes | $1 | FSA | MT4, MT5 | Up to 1:3000 | Bank Transfer, Credit/Debit Card, E-wallets | Visit JustMarkets |
| XM | Yes | $5 | ASIC, CySEC, IFSC | MT4, MT5 | Up to 1:888 | Bank Transfer, Credit/Debit Card, E-wallets | Visit XM |
| FBS | Yes | $1 | IFSC, CySEC | MT4, MT5 | Up to 1:3000 | Bank Transfer, Credit/Debit Card, E-wallets | Visit FBS |
| RoboForex | Yes | $10 | IFSC | MT4, MT5, cTrader | Up to 1:2000 | Bank Transfer, Credit/Debit Card, E-wallets | Visit RoboForex |
| XTB | Yes | $0 | FCA, CySEC, KNF | xStation 5, MT4 | Up to 1:500 | Bank Transfer, Credit/Debit Card, E-wallets | Visit XTB |
| Exness | Yes | $1 | CySEC, FCA | MT4, MT5 | Up to 1:2000 | Bank Transfer, Credit/Debit Card, E-wallets | Visit Exness |
| IC Markets | Yes | $200 | ASIC, CySEC | MT4, MT5, cTrader | Up to 1:500 | Bank Transfer, Credit/Debit Card, E-wallets | Visit IC Markets |
| eToro | Yes | $50 | FCA, CySEC, ASIC | eToro Platform | Up to 1:400 | Bank Transfer, Credit/Debit Card, E-wallets | Visit eToro |
| IQ Option | Yes | $10 | CySEC | IQ Option Platform | Up to 1:500 | Bank Transfer, Credit/Debit Card, E-wallets | Visit IQ Option |
| LiteFinance | Yes | $50 | CySEC | MT4, MT5 | Up to 1:500 | Bank Transfer, Credit/Debit Card, E-wallets | Visit LiteFinance |
| FxPro | Yes | $100 | FCA, CySEC, FSCA | MT4, MT5, cTrader | Up to 1:500 | Bank Transfer, Credit/Debit Card, E-wallets | Visit FxPro |
| EasyMarkets | Yes | $100 | ASIC, CySEC | MT4, EasyMarkets Platform | Up to 1:400 | Bank Transfer, Credit/Debit Card, E-wallets | Visit EasyMarkets |
| Deriv | Yes | $5 | MFSA, VFSC | MT5, Deriv Platform | Up to 1:1000 | Bank Transfer, Credit/Debit Card, E-wallets | Visit Deriv |
Trading Instruments Comparison
This table compares the availability of different trading instruments across Taurex and its competitors.
The instruments include CFDs, Forex, Stocks, Commodities, Cryptocurrencies, Metals, and ETFs.
Understanding the range of available instruments is essential for traders seeking diverse trading opportunities.
| Broker | CFD | Forex | Stocks | Commodities | Crypto | Metals | ETFs |
|---|---|---|---|---|---|---|---|
| Taurex | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| xChief | Yes | Yes | Yes | Yes | Yes | Yes | No |
| JustMarkets | Yes | Yes | No | Yes | Yes | Yes | No |
| XM | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| FBS | Yes | Yes | No | Yes | Yes | Yes | No |
| RoboForex | Yes | Yes | Yes | Yes | Yes | Yes | No |
| XTB | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Exness | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| IC Markets | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| eToro | Yes | Yes | Yes | Yes | Yes | No | Yes |
| IQ Option | Yes | Yes | No | Yes | Yes | No | No |
| LiteFinance | Yes | Yes | Yes | Yes | Yes | No | No |
| FxPro | Yes | Yes | Yes | Yes | Yes | Yes | No |
| EasyMarkets | Yes | Yes | Yes | Yes | Yes | No | Yes |
| Deriv | Yes | Yes | No | Yes | Yes | No | No |
| Amarkets | Yes | Yes | No | Yes | Yes | No | No |
| Pepperstone | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
User Reviews and Opinions
Frequently Asked Questions
Is Taurex regulated?
Yes, Taurex is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa and the Cyprus Securities and Exchange Commission (CySEC).
What is the minimum deposit required to open an account with Taurex?
The minimum deposit required to open an account with Taurex is $100.
Does Taurex offer a demo account?
Yes, Taurex offers a demo account for new traders to practice with virtual funds.
What trading platforms does Taurex support?
Taurex supports MT4 and MT5 trading platforms.
Is there an Islamic account option available at Taurex?
Yes, Taurex offers Islamic accounts for traders who follow Sharia law.
How can I contact Taurex customer support?
You can contact Taurex customer support through live chat, email, phone, and social media.
Does Taurex offer bonuses or promotions?
Yes, Taurex offers welcome bonuses and deposit bonuses.
How long does it take to withdraw funds from Taurex?
Withdrawals from Taurex typically take 1-3 business days to process.
What leverage does Taurex offer?
Taurex offers leverage of up to 1:500 depending on the account type.
Does Taurex have a mobile trading app?
Yes, Taurex has a mobile trading app available on both Google Play Store and Apple App Store.
Resources
Get To Know Our Team
The following team members have contributed to writing, editing, reviewing, and verifying the information in this article:
Arnold K.
Arnold is a financial journalist specializing in Forex and brokers. With a Bachelor of Science in Graphic Communication & Advertising, he blends creativity and analytical insight in his work. Arnold is known for his detailed analyses of forex markets and broker performance, emphasizing strategic decision-making in trading. His writing, featured on many platforms, aims to educate readers on navigating forex complexities. Passionate about technology and continuous learning, Arnold remains a trusted voice in the financial sector.
Oluwapelumi A.
Oluwapelumi A. is a financial journalist specializing in brokers and cryptocurrency. He holds a Higher National Diploma from The Polytechnic, Ibadan. As an independent journalist, his work has been published on premier broker sites, providing insightful analyses on broker performance and market trends. His investing style focuses on dollar-cost averaging, and his expertise includes Bitcoin, Ethereum, Cardano, and Algorand. A firm believer in the transformative power of Bitcoin and blockchain, Oluwapelumi shares knowledge on how these technologies can shape the future financial system. Outside of writing, he enjoys meeting new people and exploring new experiences.
Adetola F.
Adetola is a financial journalist and market analyst. He holds a B.Sc. in Educational Media and Technology from the University of Ilorin. Specializing in swing and position trading, Adetola has expertise in currencies, cryptocurrencies, gold, and stocks. Known for his consistent performance and extensive experience, he has trained numerous successful students worldwide. Adetola frequently publishes articles, educational videos, and live market reviews to help others navigate the complexities of financial markets.
Top Brokers
Updated as of: April 29, 2025