Taurex Broker Review and Rating

Comparing Taurex Fees with Competitors

The latest market data from May 2024 shows how Taurex stacks up in the digital world of trading. Our analysis of spread differences in major trading instruments gives an explanation of the broker's fee structure.

Spread Comparison Chart

Live trading sessions reveal Taurex's actual spread performance against market measures:

We found cryptocurrency trading to be Taurex's strong suit. Bitcoin spreads are a big deal as they mean much lower costs than industry averages. Forex pairs tell a different story, with EUR/USD trading costs running higher than market standards.

The Raw account proves to be affordable with spreads starting from 0 pips. This account type shows spreads that beat industry averages for STP accounts. Commodity trading results are mixed, but gold spreads remain competitive with market measures.

Commission Rate Analysis

Each account type comes with its own commission structure:

Standard Zero accounts have no commissions but keep spreads from 1.6 pips. Pro Zero accounts offer better spreads starting at 1.2 pips and stay commission-free.

Raw accounts work with a different pricing setup:

• Base commission of $2.00 per side
• Total round-trip cost of $4.00 per lot
• Zero pip spread base

The Raw account proves most cost-effective for active traders once you add up all trading costs. Fixed commissions and tight spreads make this account type a strong match for competing ECN brokers.

Market execution quality plays a key role in overall trading costs. The broker's dedication to removing artificial slippage helps predict trading expenses better. On top of that, it doesn't charge deposit and withdrawal fees, which optimizes costs - though bank charges might still apply.

Standard Zero accounts need just $100 to start, making them great for new traders. The $500 minimum for Pro Zero and Raw accounts fits well with what other premium accounts require.

User Reviews on Taurex Trading Costs

Taurex's cost structure and fee implementation has created mixed reactions from traders. User feedback reveals clear patterns about this broker's advantages and challenges.

Common Fee Complaints

Traders often complain about unexpected profit removals. A trader lost 17,800 euros in profits when Taurex cited quote errors. These issues happened during news events that affected markets heavily. This raised questions about quote accuracy and trade execution.

Profit nullification became a repeated problem for many traders. One trader lost USD 29,828.34 from their account when Taurex blamed technical errors in seven currency pairs. The broker's explanations left many traders asking for more details.

Slow withdrawal processing has become the biggest problem. Traders wait too long for fund transfers that should take just 30 seconds. New traders feel frustrated by these unexpected delays.

The USD 100 minimum deposit for Standard accounts creates a barrier. Traders with less capital can't access better spreads.

Positive Cost Experiences

Taurex's clear fee structure has earned praise from many traders. The trading community likes that there are no deposit fees. Traders also appreciate commission-free trading on Standard and Pro accounts.

The platform offers competitive prices in key market areas:

• Bitcoin spreads cost USD 9.44-9.49, much lower than the market average of USD 35.50
• Dow Jones 30 spreads stay at 2.3 basis points in morning sessions

Raw account traders like the simple USD 4.00 per lot commission structure. Experienced traders value how raw spreads and fixed commissions make costs predictable.

A USD 2,000 prize pool demo competition lets traders participate without extra costs. Deposits and withdrawals don't have handling fees, though third-party charges might apply.

Experienced traders praise the platform's execution quality. They say the lack of artificial slippage makes up for higher spreads in some currency pairs. Swap-free Islamic accounts add flexibility and fit different trading priorities.

Real Cost of Trading with Taurex

The real trading data shows Taurex's actual spread costs are nowhere near their advertised rates. Tests during London and New York trading sessions revealed EURUSD spreads of 1.3 pips in morning sessions and 1.5 pips during afternoon trading.

Actual Spread Analysis

Major currency pairs show varying spread efficiency in a complete analysis. GBPJPY trading has spreads of 2.8-2.9 pips, which is higher than industry averages. Gold (XAUUSD) traders see spreads between 32-41 pips. This is actually competitive when compared to market standards.

The Raw account stands out as the budget-friendly choice with spreads starting at 0.0 pips. High-volume traders find this appealing despite its higher original deposit needs.

Hidden Charges Revealed

Trading expenses go beyond just spread costs. Market execution can lead to slippage when markets get volatile. The broker's ECN system helps prevent price manipulation through transparent feed mechanisms.

Many traders miss the impact of overnight positions. The data shows high overnight charges, but Islamic accounts offer swap-free options. While Taurex doesn't charge for deposits or withdrawals directly, third-party payment processors might add their own fees.

Total Cost Per Trade Examples

Here's what real trading costs look like:

Standard Zero Account:

• EUR/USD trade (1 lot): 1.3-1.5 pips spread cost
• No commission charges
• Total cost runs about $13-15 per standard lot

Raw Account:

• Base spread from 0.0 pips
• Fixed commission of $4.00 per lot ($2.00 per side)
• Total cost usually runs $4-8 per standard lot

Trading volume and market conditions change the cost structure a lot. Cryptocurrency trading costs are competitive. Bitcoin spreads sit at USD 9.44-9.49, which is a big deal as it means that the industry average of USD 35.50.

Straight-through processing (STP) gives quick execution without manual interference. This can cut indirect costs from delayed orders. The electronic communication network (ECN) setup provides access to the best bid and ask quotes. This gives traders better price transparency for smarter decisions.

How to Reduce Trading Costs on Taurex

You need strategic planning and a good grasp of Taurex's platform features to cut down your trading costs. The right account type and trading schedule are the foundations of reducing expenses.

Choosing the Right Account Type

Your trading volume and style determine the best account structure. The Standard Zero account needs a $100 minimum deposit and works best for traders who want simple, commission-free trading. The Pro Zero account gives you tighter spreads without commissions.

The Raw account is the most economical option for traders who make lots of trades. It comes with raw spreads from 0 pips and a fixed commission structure. High-volume traders benefit from this account's balance between spread costs and commission fees.

Best Times to Trade

Market hours and conditions cause trading costs to change by a lot. The best time to trade is between 9:30 AM and 10:30 AM Eastern Time. This period brings peak market liquidity and tighter spreads.

Day traders get the best conditions during these times:

• Morning Session (8:30 AM - 11:00 AM ET): Highest volatility and liquidity
• Late Afternoon (2:00 PM - 4:00 PM ET): Increased market activity

Market conditions sometimes create special opportunities. Tuesdays show steady market movements. Mondays and Fridays might have higher volatility and wider spreads.

Cost-Saving Tips

Learning Taurex's fee structure helps you save money. Here's how to cut down your trading costs:

1. Account Management

   • Keep trading regularly to avoid the 90-day inactivity fee
   • Islamic swap-free accounts work well for overnight positions
   • Test your strategies on demo accounts before using real money

2. Trading Strategy Optimization

   • Trade during high-liquidity periods to get tighter spreads
   • Watch your margin levels - stop-out happens at 50%
   • Size your positions right to handle margin requirements

3. Platform Features

   • MetaTrader 5's advanced charting tools help you find precise entry and exit points
   • One-click trading reduces slippage
   • Copy trading lets you mirror successful strategies

Smart deposit and withdrawal management is vital to reduce costs. Taurex doesn't charge deposit fees, but payment processors might. The right payment methods help minimize these extra costs.

Commodity traders should know these specific trading hours:

• WTI oil (USOIL): 1:00 AM to 11:59 PM
• Natural gas: 1:00 AM to 11:59 PM
• Coffee: 3:00 AM to 11:59 PM

Different instruments have different margin requirements:

• Gold (XAUUSD): 0.2% margin requirement
• Silver (XAGUSD): 0.5% margin requirement
• Crude oil: 0.5% margin requirement

Platform execution speed ranges from 58 to 381 milliseconds and affects trading costs through slippage. Virtual Private Server (VPS) services can speed up execution to about 0.77 milliseconds. This improvement helps scalping strategies the most.

Conclusion

A full picture of Taurex's fee structure and trading costs reveals mixed results. Standard Zero accounts don't charge commissions, but their spreads start at 1.6 pips - way above market averages. Raw accounts are the budget-friendly option that active traders prefer, but you'll need more money to get started.

Taurex shines in some areas, especially when you have cryptocurrency trading where their spreads beat industry averages by a lot. Their forex spreads tend to be higher than what other brokers charge, which might not appeal to traders who focus on currencies. Clients' feedback tells a similar story - they like the clear fee structure but worry about getting their profits out and slow withdrawals.

The platform works well with different trading styles and account types. The $100 minimum deposit is available to many traders, but higher spreads might not be worth the lower entry cost. Raw account traders get the best value, and trades work best during peak market hours between 9:30 AM and 10:30 AM Eastern Time.

My research shows Taurex makes sense for cryptocurrency traders or those who trade enough volume to make Raw accounts worthwhile. Standard account users should think about whether commission-free trading is worth paying higher spreads before they invest their money.

FAQs

Q1. What are the main account types offered by Taurex? Taurex offers three primary account types: Standard Zero for commission-free trading with spreads from 1.6 pips, Pro Zero with tighter spreads and no commissions, and Raw accounts featuring zero pip spreads with a fixed commission structure.

Q2. How do Taurex's spreads compare to industry averages? Taurex's spreads vary by instrument. For example, their EUR/USD spread averages 1.3-1.5 pips, which is higher than the industry average of 1.08 pips. However, their cryptocurrency spreads, particularly for Bitcoin, are significantly lower than industry standards.

Q3. Are there any hidden fees when trading with Taurex? While Taurex doesn't charge deposit or withdrawal fees, there's a $20 monthly inactivity fee after 90 days without trading. Additionally, third-party payment processors may impose charges, and overnight positions can incur swap fees unless using an Islamic account.

Q4. What is the minimum deposit required to open a Taurex account? The minimum deposit varies by account type. Standard Zero accounts require a $100 minimum deposit, while Pro Zero and Raw accounts have a higher initial investment requirement of $500.

Q5. How can traders reduce their trading costs on Taurex? To minimize costs, traders can choose the appropriate account type based on their trading volume, focus on trading during high-liquidity periods (typically 9:30 AM to 10:30 AM ET), maintain regular account activity to avoid inactivity fees, and utilize platform features like one-click trading to minimize slippage.