tegasFX Forex Broker

Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only. General Information & Regulation Feature Detail Regulation Suspicious clone Market Instrument forex, precious metals, commodities, CFDs, crypto Account Type MT4 ECN/STP, MT4 ECN/STP PRO＋, MT5 ECN/STP PRO and FIX API 4.4 Demo Account yes Maximum Leverage N/A Spread (EUR.USD) Average 0.2 pips Commission Vary on the account type Trading Platform MT4 & MT5 Minimum Deposit Vary on the method Deposit & Withdrawal Method Bank transfer, credit cards, ADVCash, Bitcoin, Ethereum and US Tether tegasFX, a trading name of Clover Markets Limited, is allegedly a forex and CFD broker incorporated in 2016 and registered in the Vanuatu that claims to provide its clients with various tradable financial instruments with floating spreads on the MT4 and MT5 trading platforms via four different live account types, as well as 24/5 customer support service. Here is the home page of this brokers official site: As for regulation, it has been verified that tegasFX is suspected to be clone. That is why its regulatory status on WikiFX is listed as “Suspected Fake Clone” and receives a relatively low score of 2.01/10. Please be aware of the risk. Market Instruments tegasFX advertises that it offers access to 100+ trading instruments in financial markets, including forex, precious metals, commodities, CFDs, and cryptocurrencies. Account Types Apart from free demo accounts, tegasFX claims to offer four types of trading accounts, namely MT4 ECN/STP, MT4 ECN/STP PRO＋, MT5 ECN/STP PRO and FIX API 4.4, with minimum initial deposit requirements of $200, $1,000, $2,000 and $5,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less. Spreads & Commissions All spreads with tegasFX are a floating type and scaled with the asset type. The average spread on the EUR/USD pair is 0.2 pips. As for the commission, there is a $4 per side per 100,000 traded on the MT4 ECN/STP account, from 3.5$ per side on the MT4 ECN/STP PRO＋ account, 3.5$ per side per 100,000 traded on the MT5 ECN/STP PRO account, while the commission on the FIX API 4.4 is not specified. Trading Platform Available The platforms available for trading at tegasFX are the most notable and preferred trading platforms the market offers - MetaTrader4 and MetaTrader5, which are highly praised by traders and brokers alike due to its ease of use and great functionality. They offer top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors. Deposit & Withdrawal tegasFX says to work with numerous means of deposit and withdrawal choices, consisting of Bank transfer, credit cards, ADVCash, Bitcoin, Ethereum and US Tether. Minimum deposit and withdrawal amount vary on the method. More details can be seen on the below screenshot. The broker does charge some deposit and withdrawal fees. Bank tranfer deposits require 1-2 working, while other deposit and withdrawal requests can be processed on the same day. Customer Support tegasFXs customer support can be reached by telephone: +65 316 367 71, email: info@tegasfx.com, live chat or send messages online to get in touch. You can also follow this broker on social networks such as Facebook and Instagram. Company address: Pot 805103 Rue D' Auvergne, Port Vila, Vanuatu. Pros & Cons Pros Cons • Multiple trading assets, account types and payment options offered • Suspicious clone • Demo accounts available • No information on the leverage • MT4 & MT5 supported Frequently Asked Questions (FAQs) Q 1: Is tegasFX regulated？ A 1: No. It has been verified that tegasFX is a suspected fake clone. Q 2: At tegasFX, are there any regional restrictions for traders？ A 2: Yes. Citizens and residents of the following countries are prohibited from opening a trading account: Bangladesh, Belarus, Bolivia, Cuba, Cote d‘Ivoire (Ivory Coast), Democratic Republic of Congo, Ecuador, Former Liberian Regime of Charles Taylor, Iran, Kyrgyzstan, Liberia, Libya, North Korea, Republic of Vanuatu, Singapore, Sudan, Syria, United States of America, Zimbabwe. Q 3: Does tegasFX offer demo accounts？ A 3: Yes. Q 4: Does tegasFX offer the industry-standard MT4 & MT5？ A 4: Yes. tegasFX offers both MT4 and MT5. Q 5: What is the minimum deposit for tegasFX？ A 5: The minimum initial deposit differs depending on the method. Q 6: Is tegasFX a good broker for beginners？ A 6: No. tegasFX is not a good choice for beginners. Though it claims to offer demo MT4 and MT5 accounts, we can’t forget that it is unregulated.