tegasFX offers its clients two trading account types – a standard MT4 one which offers ECN/STP environment, and FIX API one for professional and/or institutional traders. Micro lots are available for trade solely on the MT4 ECN/STP account type.
Unfortunately, swap-free (Islamic) accounts, as well as PAMM services, are not available with tegasFX.
In fact, the variable spreads offered by this broker are really tight – typical ones amounting to just 0.2 pips on EUR/USD. Even if we add the commission of $4/lot per side, the average cost of trading per lot with tegasFX is around 1 pip, which is a competitive pricing. For further information, you may look up the real-time spreads of 15 leading brokers here.
As regards leverage, tegasFX offers levels up to 1:200, which is average for the forex market. If you need higher leverage, you may check out a list of brokers offering leverage of 1:500 of higher. Keep in mind, however, that using higher leverage levels mean greater risk of l;osses.
The Company. Security of Funds
Founded in 2016, tegasFX offers trading in a number of currency pairs and several types of CFDs on the popular MetaTrader 4 (MT4) platform, as well as on FIX API Protocol.
There are several companies behind the tegasFX brand: Clover Markets Limited, which is a Vanuatu licensed and regulated IBC.
Vanuatu is an offshore tax-free destination, where registration procedure for forex and binary brokers is fast and low cost. That is why it is becoming increasingly popular for such start-ups.
Besides, capital requirements in Vanuatu are very low, even compared to other offshore destinations, such as Mauritius and Belize: only $2000.
As is usually the case with offshore jurisdictions, little focus is placed on supervision. That is why if you intend to invest a large amount of money, we would advise you to select a forex broker licensed in UK, Cyprus, or Australia for instance, where traders have certain level of protection.
tegasFX offers its clients the leading MetaTrader 4 and FIX API protocol.
In fact, API stands for Application program interface. FIX API connection is implemented in order to address very specific customer requirements – it enables traders to get connected to the broker’s deep liquidity pool, while having ultra-low latency and high-speed connectivity.
MetaTrader 4 (MT4) is preferred choice of most traders, as it is easy to use and offers a number of technical indicators, extensive back-testing options, advanced charting package, and wide range of Expert Advisors (EA), allowing clients to fully automate their trades. It comes in desktop, web and mobile versions with tegasFX.
Methods of Payment
tegasFX offers its clients the following payment modes: credit/debit card (Visa, MasterCard, Maestro), bank wire transfer, and e-wallet Neteller.
Accepted Currencies: USD, EUR
tegasFX is a young offshore broker that provides online trading services in forex and CFDs under competitive conditions: NDD environment, low cost of trading, average leverage levels.
TegasFX Review Conclusion
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