Overview of TusarFX
TusarFX is a trading platform based in the United Kingdom with a presence of 2-5 years in the market. It operates without regulatory oversight, implying potential associated risks for traders. TusarFX offers a variety of market instruments, including forex currency pairs (major, minor, and exotic), metals, cryptocurrencies, stock market indices, commodities, and binary options.
The broker provides multiple account types, including Premium, Standard, Light, and Advanced accounts, each with different minimum deposit requirements, spreads, leverage, and commission fees. They also offer DEMO and Islamic accounts for practice and specialized trading. TusarFX provides a maximum leverage of 1:500, and spreads range from 1.1 pips to 2 pips, with commission fees on certain account types.
Account deposits can be made in USD, EUR, or RUS, with a minimum deposit requirement of $1 or R16.52. TusarFX supports fee-free deposits and withdrawals through Bank Wire Transfer and Perfect Money, prohibiting third-party deposits and mixing deposit methods.
The broker operates using the MetaTrader4 trading platform, available on various devices, and offers customer support through multiple channels. TusarFX accepts traders from numerous countries but restricts services in the United States, Canada, and Japan due to regulatory constraints.
Pros and Cons
TusarFX offers a diverse range of trading instruments encompassing forex, metals, cryptocurrencies, indices, and commodities, providing traders with a wide array of options. The platform also grants access to MetaTrader4, known for its user-friendly interface. However, the brokerage faces challenges such as a lack of regulatory oversight and potential associated risks. Additionally, limited payment methods with possible associated fees and commission charges for select account types can be drawbacks. TusarFX is not accessible to traders in the United States, Canada, and Japan due to regulatory restrictions, yet it compensates with multiple customer support channels for user assistance.
Is TusarFX Legit？
TusarFX lacks regulatory oversight, indicating the absence of valid regulations. Caution is advised due to potential associated risks.
Market Instruments
Forex: TUSARFX offers a wide range of forex currency pairs, including all the major pairs (USD/JPY, EUR/USD, GBP/USD, USD/CHF, AUD/USD) and many minor and exotic pairs.
Metals: TUSARFX offers trading on gold and silver.
Cryptocurrencies: TUSARFX offers trading on a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple.
Indices: TUSARFX offers trading on a number of stock market indices, including the US S&P 500, the UK FTSE 100, and the German DAX.
Commodities: TUSARFX offers trading on a variety of commodities, including oil, gas, and wheat.
Binary Options: TUSARFX offers binary options trading on a variety of assets, including forex, currencies, stocks, indices, and commodities.
Pros and Cons
Account Types
Premium Account:
The Premium Account offered by TusarFX has a minimum deposit requirement starting from $1, with a maximum deposit limit of $10,000. Spreads begin at 1.1 pips, utilizing a 5-digit price feed. Traders can access leverage of up to 1:500. The margin call and stop-out levels are set at 40%. Microlots starting from 0.01 lots are available, and this account type can be converted into an Islamic Swap-free Account if needed. There is a commission of 0.6 pips on a regular swap-free account and 1.6 pips on an Islamic or Swap-free account.
Standard Account:
The Standard Account at TusarFX requires a minimum deposit, but the specific amount is not mentioned. The maximum deposit allowed is $7,000, and it offers fixed spreads starting from 2 pips. Traders can utilize leverage of up to 1:500, with a margin call level of 40% and a stop-out level of 20%. Microlots starting from 0.01 lots can be traded, and this account type does not charge any commission.
Light Account:
TusarFX's Light Account comes with a minimum deposit requirement starting from $1 and a maximum deposit limit of $7,000. It features fixed spreads beginning at 2 pips and offers leverage of up to 1:500. The margin call and stop-out levels are set at 40% and 20%, respectively. Microlots starting from 0.01 lots are available for trading, and there are no commission charges associated with this account type.
Advanced Account:
The Advanced Account at TusarFX requires a minimum deposit starting from $1, with a maximum deposit limit of $7,000. It offers dynamic spreads that start from 1.1 pips, utilizing a 5-digit price feed. Traders can access leverage of up to 1:500, but the margin call and stop-out levels are higher at 60% and 40%, respectively. Microlots starting from 0.01 lots can be traded, and there are no commission charges for this account type.
Additionally, DEMO account and Islamic account are also available for practice trading.
Leverage
TusarFX offers a maximum leverage of 1:500.
Spreads & Commissions
TusarFX offers spreads ranging from 1.1 pips to 2 pips across its account types, with commission fees of 0.6 pips for a regular swap-free account and 1.6 pips for an Islamic or Swap-free account in the Premium Account. Standard and Light Accounts have no commission charges.
Minimum Deposit
Account currencies accepted include USD, EUR, and RUS, with a minimum deposit requirement of $1 or R16.52.
Deposit & Withdrawal
When assessing broker services, the ease of depositing and withdrawing funds is crucial. TusarFX facilitates fee-free deposits and withdrawals, but traders should verify potential fees imposed by their chosen financial institution. TusarFX exclusively supports two payment methods for both deposits and withdrawals: Bank Wire Transfer and Perfect Money. It's important to note that third-party deposits are prohibited, and mixing deposit methods is not allowed.
Trading Platforms
TusarFX provides traders access to MetaTrader4, a widely used trading platform available on Windows, web, and mobile devices. This platform offers a user-friendly interface and a multilingual 'Help' guide for added convenience.
Trading Hours
TusarFX operates its market hours from Sunday at 22:00 to Friday at 21:00 GMT+3 during summer and GMT+2 in winter. Precious metals can be traded from 01:01 to 23:00 server time (Monday to Friday), while exotic pairs are available for trading from 01:00 to 23:59 server time (Monday to Thursday) and from 01:00 to 23:00 server time on Fridays.
Customer Support
TusarFX offers customer support through various channels, including email (support@tusarfx.com), Skype (Password.TusarFX), an online request form on their contact us page, and live chat. They have email addresses for specific regions, including malay@tusarfx.com, indonesia@tusarfx.com, russian@tusarfx.com, thailand@tusarfx.com, and china@tusarfx.com. Additionally, TusarFX can be reached through their Facebook and Twitter profiles, providing multiple avenues for customer assistance.
Accepted Countries
TusarFX accepts traders from numerous countries, including Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and many others. However, traders from the United States, Canada, and Japan are not eligible to use TusarFX's services, as they are not offered within these countries due to regulatory restrictions. TusarFX does not intend to solicit or induce individuals from these restricted jurisdictions to engage in its financial products or services.
Conclusion
In conclusion, TusarFX, based in the United Kingdom, offers a range of account types with varying minimum deposit requirements and trading conditions. The absence of regulatory oversight raises concerns about potential risks associated with trading on this platform. TusarFX provides access to multiple market instruments, including forex, metals, cryptocurrencies, indices, commodities, and binary options. Leverage of up to 1:500 is available, and spreads and commission fees vary across account types. The platform accepts deposits in multiple currencies with fee-free deposit and withdrawal options, limited to bank wire transfer and Perfect Money. Traders can utilize the MetaTrader4 trading platform, and customer support is accessible through various channels. However, it's important to note that TusarFX does not serve clients from the United States, Canada, or Japan due to regulatory restrictions. Traders should exercise caution when considering this platform due to the lack of regulatory oversight.
FAQs
Q: Where is TusarFX registered and in which region does it operate？
A: TusarFX is registered in the United Kingdom and primarily operates in the United Kingdom.
Q: Is TusarFX a legitimate platform？
A: TusarFX lacks regulatory oversight, indicating the absence of valid regulations. Caution is advised due to potential associated risks.
Q: What financial instruments can I trade on TusarFX？
A: TusarFX offers a variety of trading options, including forex currency pairs, metals, cryptocurrencies, indices, commodities, and binary options.
Q: What are the different account types offered by TusarFX？
A: TusarFX offers Premium, Standard, Light, and Advanced accounts, along with DEMO and Islamic accounts for practice trading.
Q: What is the maximum leverage offered by TusarFX？
A: TusarFX offers a maximum leverage of 1:500 to traders.
Q: What are the deposit and withdrawal options on TusarFX？
A: TusarFX allows fee-free deposits and withdrawals via Bank Wire Transfer and Perfect Money, with a minimum deposit requirement of $1 or R16.52 in accepted currencies.
Q: What trading platform does TusarFX provide？
A: TusarFX provides access to MetaTrader4, a popular trading platform available on Windows, web, and mobile devices.
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