Overview of TASS
TASS, established in 2020 in St. Vincent and the Grenadines, offers a trading platform allowing users to engage in CFD trading across various assets, including equities, forex, commodities, indices, and cryptocurrencies. With account types like Gold and Platinum, TASS serves different trading preferences.
Advantages include competitive commissions starting from 0.002% and a maximum leverage of 1:500, enhancing trading flexibility. However, limited regulatory oversight poses potential risks. TASS, operating primarily via MetaTrader 5, provides customer support through email at info@tassfx.com and facilitates deposits and withdrawals using methods like USDT transfer, Binance, and traditional payment cards.
Is TASS legit or a scam？
TASS currently operates without being subject to regulation by any governing authority, giving rise to issues regarding the exchange's transparency and oversight. Unregulated exchanges, by nature, lack the scrutiny and legal safeguards that regulatory bodies provide.
This absence of oversight elevates the potential for fraud, market manipulation, and security vulnerabilities. Users may encounter difficulties in addressing issues or settling disputes in the absence of proper regulation. Furthermore, the dearth of regulatory scrutiny contributes to a less transparent trading environment, posing challenges for users in assessing the legitimacy and reliability of the exchange.
Pros and Cons
Pros:
Competitive Pricing:
TASS offers competitive pricing for trading, potentially benefiting users by minimizing transaction costs.
Variety of Tradable Assets:
The platform provides a diverse range of tradable assets, allowing users to explore and diversify their investment portfolios across different markets.
User-Friendly Platform:
TASS features a user-friendly interface, enhancing the overall trading experience for users with intuitive navigation and accessibility.
Diverse Account Options:
Users have the flexibility to choose from various account options, tailoring their trading experience based on individual preferences and requirements.
Cons:
Limited Regulatory Oversight:
TASS operates with limited regulatory oversight, potentially posing challenges in terms of user protection and adherence to industry standards.
Lack of 24/7 Customer Support:
The platform lacks round-the-clock customer support, which will inconvenience users in different time zones or those requiring immediate assistance during off-hours.
Limited Educational Resources:
TASS provides limited educational resources, potentially impacting the ability of users, especially beginners, to access comprehensive learning materials and support for informed trading decisions.
Market Instruments
TASS facilitates the trading of Contract for Differences (CFDs) on a global and local scale across various asset classes. Investors can engage in CFD trading, a financial derivative that allows speculation on price movements without owning the underlying assets.
Equities: TASS provides a platform for trading CFDs on a range of equities, enabling investors to participate in the performance of individual stocks without owning them outright. This includes shares from both global and local markets.
Forex (Foreign Exchange): The platform offers CFDs on the forex market, allowing users to speculate on the exchange rates between different currencies. This provides opportunities for traders to capitalize on the fluctuations in currency values.
Commodities: TASS supports CFD trading on various commodities, including precious metals, energy resources, and agricultural products. This diversification allows investors to explore different sectors and manage risk effectively.
Indices: Users can trade CFDs on major global and local indices, providing exposure to the overall performance of specific markets. This broad market representation is beneficial for those seeking diversified investment opportunities.
Cryptocurrencies: TASS includes digital assets in its offering, allowing traders to speculate on the price movements of popular cryptocurrencies.
Account Types
TASS offers two types of accounts:
Gold Account:
The Gold account type on the platform operates under a market execution model with a margin collateral requirement of up to $2,000. This account is characterized by a 100% Margin Call level, a minimum lot size of 0.01, and a margin leverage of 1:500. In the event of reaching the 100% Stop Out level, positions are automatically closed. Commissions, contingent on trading volume, are applied at rates of 0.004% for currencies, 0.08% for cryptocurrencies, and 0.004% for stock indices. The Gold account is for traders who prefer market execution and are comfortable with the specified margin and lot size requirements. It may appeal to those seeking a balance between risk and potential returns.
Platinum Account:
The Platinum account, akin to the Gold account, follows a market execution model. It requires a minimum margin collateral of $2,000 and features a 100% Margin Call level, a minimum lot size of 0.01, and a margin leverage of 1:500. The 100% Stop Out level ensures risk management. Commission structures, dependent on trading volume, are set at 0.002% for currencies, 0.08% for cryptocurrencies, and 0.002% for stock indices. The Platinum account is tailored for traders with a preference for market execution and a higher threshold of margin collateral. It attractsthose who seek reduced commission rates based on their trading volume, offering a potentially cost-effective option for active participants in the financial markets.
How to Open an Account？
Visit TASS Website:
Access the official TASS website using a web browser. Navigate to the registration or sign-up section, usually prominently displayed on the homepage.
Account Type Selection:
Choose the type of account you wish to open (e.g., Gold or Platinum). Familiarize yourself with the specific features and requirements associated with each account type before making a selection.
Provide Personal Information:
Complete the registration form by providing accurate personal information. This typically includes your full name, email address, phone number, and residence details. Ensure the information is correct for account verification purposes.
Verify Identity:
Follow the identity verification process as outlined by TASS. This involves uploading identification documents such as a passport or driver's license. Ensure that the provided documents meet the platform's requirements.
Deposit Funds:
Fund your account by depositing the required margin collateral. Follow the platform's instructions for depositing funds, which include various payment methods such as bank transfers or electronic payment systems.
Start Trading:
Once your account is verified and funded, you can start trading. Familiarize yourself with the platform's interface, tools, and available assets. Execute trades based on your market analysis and risk preferences.
Leverage
TASS offers a maximum leverage of 1:500, providing users with the ability to amplify their trading positions significantly. Leverage allows traders to control larger positions with a relatively smaller amount of capital, potentially increasing both profits and losses.
While high leverage can enhance potential gains, it also involves heightened risk, requiring careful risk management strategies. Traders should be cognizant of the impact of leverage on their portfolios and exercise prudent decision-making.
Spreads & Commissions
TASS implements a fee structure encompassing spreads and commissions, varying based on the chosen account type. The Gold account incurs commissions, with rates of 0.004% for currencies, 0.08% for cryptocurrencies, and 0.004% for stock indices. Conversely, the Platinum account exhibits reduced commission fees, standing at 0.002% for currencies, 0.08% for cryptocurrencies, and 0.002% for stock indices.
Deposit & Withdrawal
TASS provides several methods for depositing funds into a real account. Users can opt for USDT transfer, Binance, or use traditional payment cards like Visa, MasterCard, and МИР. The USDT transfer and Binance methods incur no commission, with a processing time of 1 to 5 business days. Generally, these transfers are completed within one business day.
Trading Platform
TASS has established a partnership with MetaTrader 5 (MT5), presenting users with a trading experience that combines competitive pricing, liquidity, and support. MT5, renowned globally, is recognized for its advanced features and innovation. The platform boasts impressive charting capabilities and ensures swift trading execution.
MT5 Desktop:
Advanced Customization: The MT5 desktop version offers advanced and customizable charting tools, allowing users to tailor their trading environment according to their preferences.
Research and Education Tools: Traders have access to research and education tools, enhancing their ability to make informed decisions based on market analysis and trends.
Web Terminal Version: The availability of a web terminal version provides flexibility for users who prefer browser-based access, allowing them to trade without the need for additional software installations.
Expert Advisor Plugins: The inclusion of Expert Advisor plugins allows for algorithmic trading strategies.
MT5 Mobile:
On-the-Go Trading: The mobile version of MT5 enables users to trade conveniently on Android and Apple phones, providing flexibility for those who prefer a mobile trading experience.
Multilingual Support: With the ability to trade in 39 different languages, MT5 Mobile accommodates a diverse user base, promoting accessibility and inclusivity.
Competitive Spreads and Fees: Traders benefit from competitive spreads and fees, enhancing the cost-effectiveness of their transactions on the platform.
Trading Signals and Newsfeeds: MT5 Mobile offers trading signals to assist users in making informed decisions, supplemented by live newsfeeds delivering the latest headlines directly to the traders' mobile devices.
Customer Support
TASS extends its customer support through the email address info@tassfx.com. This contact method allows users to reach out for assistance, inquiries, or issue resolution. The use of email provides a written record of communication, aiding in efficient and clear correspondence between users and the support team.
The customer support operates during regular business hours from Monday to Friday, between 9:00 and 18:00. This time frame ensures that users have access to assistance during standard working hours, offering a structured and predictable schedule for addressing inquiriesConclusion
In conclusion, TASS presents a trading platform with notable advantages and drawbacks. Competitive pricing and a range of tradable assets make it appealing for cost-conscious and diversified traders. The user-friendly interface further contributes to a positive trading experience.
However, the platform's limited regulatory oversight poses a potential risk. The absence of 24/7 customer support may inconvenience users in different time zones, while the lack of extensive educational resources could limit the platform's appeal to novice traders. Ultimately, TASS offers potential benefits for experienced traders seeking a cost-effective and varied trading experience but requires careful consideration due to its identified limitations.
FAQs
Q: What is the minimum deposit required on TASS？
A: The minimum deposit varies based on the chosen account type, starting at an amount suitable for different trading preferences.
Q: How quickly are withdrawals processed on TASS？
A: Withdrawals typically take 1 to 5 business days, with many transactions processed within a single business day.
Q: Does TASS offer educational resources for traders？
A: TASS provides limited educational resources; however, users may find valuable information on trading through alternative sources.
Q: What is the maximum leverage offered by TASS？
A: TASS offers a maximum leverage of 1:500, allowing users to amplify their trading positions.
Q: How can I contact TASS customer support？
A: Customer support is primarily facilitated through email at info@tassfx.com, providing users with a direct communication channel.
Q: Is TASS regulated by any financial authority？
A: TASS operates with limited regulatory oversight, which users should consider when assessing the platform's reliability and risk factors.
2024-03-20 17:26
