Already on the blacklist of the Financial Commission, TauruzFX has no transparency. Nevertheless, the platform may have some trading taking place with reasonable conditions. However, Taurus FX is an offshore platform based in the Marshall Islands. And this poses a huge risk to investors, especially those based in Europe and the States. And this brings us to the reason why the regulator issued a ban on Tauruzfx.com. Please find out more in our detailed TAURUZFX REVIEW.
Trust Company Complex is a synonymous address for most offshore-based platforms. The reason they all use the same address is simple. There are no strict rules that govern these forex investment platforms.
When you look at the design aspects of TauruzFX, you will find it looks professional. The call to action is enticing and will make anyone sign up. However, it would help if you did not forget that the platform offers a welcome bonus to all members.
The welcome bonus has probably moved several investors into depositing with the platform. However, newbies want a platform that seems to take care of them financially. And this is what Tauruz FX appears to bring to the table.
As an investor, you want a reliable investment platform that offers realistic returns. In addition, you want a platform that Guarantees safety when investing. And this is possible if only you go for proven and transparent investment avenues.
Offshore platforms may offer enticing investment conditions, but transparency is not one of them. Instead, the platform will outright try to block attempts to withdraw large chunks of money. It’s what a few investors have faced with Tauruz FX.
Account Details TauruzFX
The minimum allowed deposit to start trading with this platform is double the industry-accepted amount. And this is another reason you should doubt the credibility of the platform. TauruzFX offers four account types to choose from.
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All of the accounts come with the same credit leverage of 1:10 to 1:200. The spread is set from 3 points for basic accounts and 1-2 for the most exclusive account. Here’s a closer look at each account and what it offers;
It’s the most basic account, and members must deposit $500 to start trading. The industry has set $250 as the acceptable minimum deposit. You pay to double the amount, but the high leverage also puts your investment at risk.
The second account on the table comes with a minimum deposit of $5,000. In addition, it comes with bonuses marked to 50 percent. Members get daily analytical reviews, and withdrawal time is set at 48 hours.
According to Tauruz FX, this is the best deal. The account comes with a depository amount of $25,000. Bonuses on this account come in the highs of 80 percent. In addition, you get the same trading conditions and withdrawal time as the above two accounts.
It’s the most exclusive account and comes with different conditions. Some of the notable differences include bonuses of 100 percent and professional consultants. Withdrawal time is also set to 5 hours.
From the four accounts, we can see the platform exaggerates the deposit amount. However, it would help if you kept in mind that this is an offshore forex investment platform.
Accuracy of signals
The platform also offers indicators for various markets. These indicators offer three options, Buy, Neutral, and Sell. Unfortunately, the accuracy of these trading signals remains a mystery. Unfortunately, there’s no demo account we can use to test these signals.
We insist that you use demo accounts to test how robots and signals work. Accuracy is vital in ensuring fast execution and profitable trades. All we have is a promise that the signals deliver accurate results.
Are Funds safe with TauruzFX?
With the regulator issuing a warning on the platform, the security of funds is out of the question. So it’s a matter of time before the platform goes under. After that, these investment platforms will have to get a license from regulators to flourish.
There’s no safety net provided by the platform, such as insurance cover for deposits made. And this is the reason why you must stay away from the platform.
Available Trading Assets
There are five assets to trade with on this platform. These five include Crypto, Forex, Indexes, Products, and Stocks. In addition, according to the platform, you can buy or sell digital currencies in real life.
And this brings us to our crypto question, do they offer crypto wallets? There’s also no mention of the types of crypto assets on offer. When it comes to Forex, the platform offers major and minor currency pairs.
Some of the indexes you will find include bonds and shares from international markets. You can also expect to trade with major shares from the FAANG Group. In addition, get access to leading exchanges such as Dow Jones and NIKKEI.
You can also trade with goods that are sold in an organized market. These products are interchangeable, transportable, standard in consumption, and can be stored. In addition, the platform promises users access to 400 assets in real-time.
Bonuses on offer
One reason why you will find regulators banning platforms is the use of bonuses. Most regulators are against platforms that offer bonuses, and with good reason. Investigations were done, and results show these platforms take advantage of members.
You may not realize it at the beginning, but the platform will ransom your account. The member must pay back the equivalent deposit bonus with a new deposit transaction. You won’t get to withdraw even a penny unless you do as they ask.
Imagine an investor or an institutional client that deposits $100,000. In essence, the platform promises a 100 percent bonus. That’s the same amount you deposit. When withdrawing, you must deposit the same bonus amount for withdrawals to be processed.
And that’s where the regulator draws the line. Beware of platforms that offer bonuses and commissions.
Deposit and withdrawal channels
The platform prefers bank and wire transfers as modes of depositing and withdrawing funds. Some of the listed options include Maestro, MasterCard, Visa, Wire Transfer, and more. There are a few clients who have made withdrawals with the platform.
A majority of them haven’t due to the arrears in bonuses. And this is what makes the platform a risky investment option. There are no guarantees that even after payment, they will release funds.
License and Registration of TauruzFX
TauruzFX is not a licensed entity and faces a ban from the Financial Commission. With the warning, it means the regulator has been receiving several complaints from investors. So it’s best to stay away from it or else risk losing your funds.
Pros and Cons of Tauruz FX
The VIP account claims to offer professional consultants who they fail to mention. Unfortunately, there’s no mention of any name that we can confirm is a professional consultant. The platform shouts anonymity from a mile away.
Another reason to doubt the platform is their client support avenues. There’s no direct access to client support which is a bother. You should be able to reach out to investors at any time. The platform only uses virtual phone numbers and unknown physical addresses.
According to the homepage, the platform offers mobile trading. It means you can trade on the go with their custom-made platform. Although slow at executing trades, it does offer some amazing tools such as advanced charts.
Why we Doubt TauruzFX
Here are the reasons why we doubt the credibility of Tauruz FX;
- High depository amounts on all accounts
- Lack of transparency when withdrawing funds
- The ban from the Financial Commission
We have to add Tauruz.com to our blacklist. So make sure you avoid platforms blacklisted by regulators.
To find out which platform works best, they have to be tested by industry experts. These are the platforms that guarantee your safety when investing.
Feel free to leave a comment or email us with any queries.