TaureneFX Review Is taurenefx.vip A Scam Or Legit Broker

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TaureneFX Review: Is taurenefx.vip A Scam Or Legit Broker?

TaureneFX Review: this is a Forex broker that claims to be located in the offshore location of Marshall Islands. Is taurenefx.vip a legit broker or another scam?

First, it is worthy to note that the location of this brokerage is offshore. These kind of brokers are not regulated and thus, cannot hold a license.

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TaureneFX is owned CFSUM Ltd and claims to be a Wealth Management Group. They claim to provide guidance for clients on a personal level. Security of identity is also touched on by the page and offers “reliable, trusted and simple trading solutions”.

Cryptocurrencies are also available to be traded with. We could not get much information on their address and other trading conditions.

TaureneFX Trading Platform

The trading platform used by this broker is said to be a web-based one and this is not encouraging to traders.

Regulated brokers usually mention trading platforms such as MetaTrader 4 and MetaTrader 5.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

There is a large collection of trading assets in this broker’s trading portfolio that includes: CFDs on indices, forex pairs, cryptocurrency, and stocks.

Again, Forex traders with licenses who are serious about the business provides impressive trading portfolios that includes more than 300 Forex currencies, 5+ cryptocurrencies, and CFDs on numerous commodities like silver, gold, indices, stocks, oil.

Leverages offered by the broker is not specified and there is no mention of the spreads offered. This is a strange find.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

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Deposit and Withdrawal Methods on TaureneFX

Payment and withdrawal means are not specified on this broker, which is another worrisome find because this is unusual.

Standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on. It is not so for TaureneFX and this is not a good sign.

Minimum deposit required for this broker is $100 and withdrawal charges/fees are not stated.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is TaureneFX Licensed

No. TaureneFX is not a registered broker and therefore holds no license. As we have mentioned at the beginning, it is located in an offshore location. This location has become popular for harboring scammers because of its lax regulation on businesses.

TaureneFX Asks Clients to Install AnyDesk

The broker gives a popup message asking clients to install AnyDesk. This is an application that with the right permission allows access to a computer from another station or computer. Clients need to know this and avoid any broker that makes this kind of request.

Support

To contact a customer care agent, clients are to send a message to: [email protected]

Conclusion

It is clear from our findings that TaureneFX is a shady brokerage that traders would want to avoid. Their terms are not very clear and they lack transparency.

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TAURENEFX Scam Broker

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TAURENEFX Complaint – TAURENEFX Review

Is TAURENEFX a scam Broker?

Overview:

The TAURENEFX is an offshore based FX brokerage provider. It features itself as a one-stop destination for crypto trading. The website feature a crypto wallet dropdown to look legitimate for crypto trading. In reality, it offers trading in Contracts for Differences. It also hides the trading environment on its website and lacks any demo account for practice. Our main concern about this brokes is its regulation and licensing. Read this scam broker review to know how TAURENEFX reflects on our concerns.

About TAURENEFX:

We have always maintained to be unbiased while providing reviews. So we will first start with the advantages of TAURENEFX. The first and only such advantage of this broker is its huge variety of CFDs on FX pairs, indexes, products, shares, and a decent selection of cryptos.

The information on its website shows that the CFSUM LTD is the owner of TAURENEFX and it is based in the Marshall Islands. The Marshall Islands is sadly known for its nonobligatory licensing policies for FX brokers. Being said this, the TAURENEFX is non-regulated. The proper regulation is the critical factor that can oversee the safety and security of the trader’s funds. Doing business with nonregulated FX brokers always embroils the intermingling of funds. That means the broker can integrate together trader’s funds and the firm’s finance. The worst scenario can occur if the broker refuses to communicate with the investors. Therefore unlicensed broker is most disadvantageous.

While accessing the Terms and Conditions section of TAURENEFX we came across strange names like BFXNA Inc. and BFXWW Inc. These names are associated with the leading crypto trading brand Bitfinex. Furthermore, there is no association between these two FX brokers. This means TAURENEFX is using other brokers Terms and Conditions illegally or it has just copy-pasted it intentionally. This fact is worrisome for traders and shameful for the broker.

Another worrisome fact about TAURENEFX is its misleading nature. It tries to mislead traders by faking itself as a blockchain-based web terminal. Some rookie traders might get trapped while thinking that the broker offers crypto exchange services. But in reality, the broker only deals with CFDs trades. The website is plain and does not provide information on trading conditions. We have always treated this opaqueness as a potential scam. Also considering its unregulated nature TAURENEFX’s this move is not surprising.

Furthermore, another unsurprising aspect of this broker is the unavailability of a free demo account. Here we can firmly assert that the TAURENEFX has several things to hide and this is another fact of worry. Also, this broker misses on the MetaTrader platform which makes it less attractive.

Is TAURENEFX scam or legit?

This broker wants to look legitimate but measurably fails on every aspect. The broker is unregulated. Trading conditions are unaccessible. Terms and Conditions borrowed from another broker. All these things are self-explanatory that this broker is a potential scam broker. Please avoid it.

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