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TaureneFX Review - is it scam or safe?

TaureneFX Review - is taurenefx.vip scam or good forex broker?

RATING: 1 / 6 REVIEWS ForexBrokerz TaureneFX
TaureneFX is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account  Min. deposit Max. leverage Spread
Standard  $100 N/A N/A

 

TaureneFX presents itself as a full-featured trading platform for trading in the major cryptocurrencies – Bitcoin, Ethereum. Litecoin, Dash, etc. While it seems to provide some wallet service, the broker actually provides trading in Contracts-for-Difference (CFDs). However, its trading conditions are not disclosed on the website and the broker does not offer free testing service either.

 

That however is not our main issue with TaureneFX, but the fact that they are not regulated. So, if you are thinking about opening an account with them, be sure to read this review first.

 

 

TaureneFX Advantages

 

Huge selection of assets

We always try to come up with any positive side about our brokers and with TaureneFX that might be the wide range of CFDs, including lots of forex pairs, indices, commodities, stocks and nice selection of cryptocurrencies. Still, considering that the broker is not a regulated financial services provider, you’d better check out the below link, if you are one of the many investors drawn to cryptocurrencies.

 


>> A list of reliable forex brokers offering Bitcoin trades <<

 

 

TaureneFX Disadvantages

 

Unclear corporate situation, no license

According to the information at the bottom of TaureneFX’s homepage, the broker is a trademark of FSUM LTD, a company registered in Marshall Islands. This is an offshore zone with no obligatory licensing for forex brokers, which means that TaureneFX is unregulated.

 

 

Click on the image to view full size.

 

Bear in mind that proper regulation is the single factor that can guarantee the safety of your funds with a forex broker. Trading with unregulated brokers may involve commingling which means that the company may mix together the finances of the firm and clients’ funds. What is worse, the brokerage may simply stop answering your e-mails and phone calls and disappear with your money. That is why the lack of legit forex broker license is always considered a huge disadvantage.

 

We also should mention that the broker’s Terms and Conditions mention BFXNA Inc. and BFXWW Inc., which are companies associated with major cryptocurrency exchange Bitfinex, with which TaureneFX has no relation whatsoever. This is a worrisome sign as it means that the broker either illegally uses the details of another company, or simply has copy-pasted its T & C.

 

Poses as crypto exchange

It seems that TaureneFX tries to mislead investors that they are a blockchain-based platform.

 

 

Some inexperienced traders might indeed think that it provides exchange services, while in fact the broker offers CFD trades. Here is more information on the matter:

 

 

>> Bitcoin Brokers compared to Bitcoin Exchanges <<

 

 

Zero clarity on trading conditions

As we mentioned in the beginning, TaureneFX has not disclosed essential parts of its offer, such as the reference spreads, maximum leverage levels provided, etc. We always view the lack of such important information like the trading costs as a negative, but having in mind the regulatory status of the brokerage, it is no surprising.

 

A test-drive of the broker’s trading platform is also unavailable, so we can safely conclude that TaureneFX is not transparent with its trading conditions and pricing.

 

Unproven web platform instead of the MT4

 

Click on th eimage to view larger.

 

TaureneFX offers its clients some oversimplified and unproven web-based interface, instead of the internationally acclaimed MetaTrader4 (MT4), and that is another downside of the broker’s offer. 

 

The main advantages of the MT4 are the superior charting, the automated trading strategies (EAs), and the programming environment, which allows for easy customization. 

 

 

>> Choose some of the best MT4 brokers <<

 

 

Conclusion

 

TaureneFX is as manipulative as these types of fraudsters usually get. There is false information all around, aimed at deceiving, not to mention that this CFD broker is not regulated. 

 

All things considered, it would be best for traders to direct themselves to better trading options to which we have linked throughout this review. Doing business with duly regulated brokers has a lot of advantages – they are obliged to follow a strict set of financial and ethical rules. Some of these include providing negative balance protection to all clients, allowing external audits, filing regular reports and in certain cases even insuring traders’ money.

 

And finally, here is our summary of the review on TaureneFX:

 

Pros Cons

Huge selection of assets

Unclear corporate situation, no license
  Poses as crypto exchange
  Zero clarity on trading conditions
  No MetaTrader, no free testing

 

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Traders` reviews for TaureneFX

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Stay away from these scammers

After investing 550 pounds Johnny who has been very rude, loud and shouting dont answer my emails, phones me after long periods. Yesterday he asked me to make a payment of 950 pounds to release 18000pounds to my account when I aske him to tale 950pounds

Stay away from these scammers,company needs to be stopped asap.They are financially abusing innocent people

Maria Mophosho 11/15/2019

big time scam

I invested a small feet wetting $250 USD to see where this would take me, a guy calling himself Johnny, was calling every day to capture my trust I presume.
after a few weeks of small trading, another person (same accent and using the same word "amazing" as Johnny) called me but with an aggressive tone, saying we need to start trading with bigger money asking me to invest $15000 USD I told him I would look into it, then I decided to see what I can do on the platform by buying $300 with a scale of 1/5 meaning 5 times and sold right away and my wallet kept growing , I invested nearly everything everytime and I couldn't lose, lol to one point in a few days I have a wallet of more then $150 million. Ya right, then I asked for a $1000 withdrawal and of course nothing which is what I expected, and of course I never re invested the $15000 he wanted , even today I can go and invest the full 150 million in my wallet, and reap the benefits Ya right, so yes it cost me $250 to satisfy my curiosity and I was right money well spent , and you can use this to worn others

Roger Forgues 10/27/2019

Stay Clear

Do not trade with them, they do not answer emails calls or anything, it is to late for me but not you. This is clearly a scam so don’t even consider them.

Jeannette Hunter 10/26/2019

Scam Company

Fraudulent company.i have lost so much with them.Dont answer mails
Total scam
Do not engage with them.Too late for me Keep Away

Steve Daramola 10/15/2019

please contact me


think it's a pity not to be hoped anymore. now I also read about unreliable and would steal your money. I hope to be called. greetings shannon

Shannon 09/27/2019

taurenefx vip trading

The brokers name supposedly, Alex Bandenburg, will not call me when I ask him to,
He has not given me the physical address of their office when I ask.
I cannot call this Alex person he will not answer me.
I send him E Mail on the address he gave me, he does not answer me.
I try and use the chat on the trading platform, it does not work, no one will talk to me.
I tried to get my investment sent back to my credit card, no response from Taurenfx at all.
Is this how you treat you new customers ? its VERY POUR SERVICE.
T think this Alex person is a scammer

Robert Laird 08/30/2019
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