Tastyfx is a broker registered in the United States, providing forex pairs trading. It claims to offer commission-free trading and low spreads. Despite this, the regulatory status of tastyfx is suspicious clone.
Pros and Cons
Is tastyfx Legit?
The current regulatory status of tastyfx is considered a suspicious clone, which means it may be using the regulatory license of a legitimate company to conduct business. Before trading with tastyfx, you must be cautious and verify its authenticity.
What Can I Trade on tastyfx?
You can only trade forex pairs on tastyfx, which offers over 80 forex pairs including EUR/CHF, EUR/USD, GBP/USD and so on.
Account Type
The broker offers only one live account option, complemented by a demo account for you to practice trading skills in a risk-free, non-monetary environment.
tastyfx Fees
tastyfx boasts comparatively low fees compared to market norms, without imposing trading commissions. However, a margin deposit is required, and tastyfx utilizes a tiered margin system.
tastyfx Spreads
tastyfx provides traders with competitive spreads, starting from 0.8 pips, providing cost-effective trading and maximizing potential profits.
tastyfx Margin
tastyfx sets a 2% margin rate for major currency pairs like EUR/USD and USD/CAD.
It employs a tiered margin system, adjusting requirements based on risk levels. Lower margin rates apply to smaller trades as they mainly benefit from better market liquidity.
tastyfx Commission
Trading on tastyfx is commission-free, but withdrawing funds via wire transfer requires a $15 handling fee.
Trading Platform
Tastyfx offers multiple trading platforms options.
Firstly, you can access its self-developed trading platform through website or download the app for PC, iOS, and Android devices.
In addition, tastyfx supports Metatrader 4, enabling you to automate your trading with MT4's advanced algorithms. tastyfx also provides a suite of indicators and add-ons for free.
Also, if you prefer technical analysis, tastyfx supports you in trading on ProRealTime, a leader in chart-based trading.
You can select the appropriate trading platform based your needs and trading proficiency.
Deposit and Withdrawal
The minimum deposit at tastyfx is $250, and you can fund your account via debit card, wire transfer, or bank transfer. Withdrawals are available via debit card, wire transfer, and ACH. Notably, only wire transfer withdrawals requires a $15 handling fee. Processing times for deposits and withdrawals vary by channel, so choose wisely based on your requirements.
Deposit Options
Withdrawal Options
Customer Service
tastyfx provides 5/24 online chat, and you can also connect them through phone, email, twitter, facebook, Instagram, YouTube, Linkedin and physical address.
The Bottom Line
Overall, the key advantage of tastyfx lies in its absence of trading commissions and competitive low spreads, making it cost-effective and ideal for short-term traders. However, the regulatory license of tastyfx has been identified as a suspicious clone, which is very risky for beignners. You'd better choose a trader under normal and legal supervision.
FAQs
Is it safe to trade with tastyfx ?
No, trading with tastyfx is unsafe given the suspicious nature of its clone license.
What is the minimum deposit at tastyfx?
The minimum deposit is $250.
What trading platforms are available at tastyfx?
There are three kinds of trading platforms: tastyfx platform, MetaTrader 4 and ProRealTime.
