TusarFX Review 2023
United States not accepted.- DayTrading Review TeamTusarFX will appeal to forex and metals traders looking for a hassle-free trading environment with a low minimum deposit and access to MetaTrader 4.
TusarFX is an unregulated forex broker. The brand offers MT4 integration, with a choice of four account types and zero commissions. Most trading strategies are permitted including Expert Advisors (EAs). New clients can also claim a welcome bonus.
Demo Account
MetaTrader 4
Bonus Offer
Islamic Account
Forex Trading
Speculate on 30+ major, minor, and exotic currency pairs including the EUR/USD, EUR/GBP, and GBP/JPY with leverage up to 1:500. The broker also offers dynamic spreads from 1.1 pips.
✓ Pros
- Promotions including trading loss rebates and no deposit bonuses
- Educational content and guides for beginners
- Swap-free Islamic account available
- No deposit or withdrawal fees
- High leverage up to 1:500
✗ Cons
- TusaFX is unregulated with no evidence of fund safeguarding
- Very slim product portfolio with forex and metals only
- Clients from the US and Canada are not accepted
- Trails the best brokers for market research and tools
- Outdated and clunky website
- Access to MetaTrader 4 only
- No copy trading service
TusarFX offers trading in forex and precious metals through the MT4 platform with high leverage. This review covers the client portal, contact details, deposits, and withdrawals. Find out if you should login and start trading with TusarFX.
TusarFX Company Details
TusarFX Ltd is part of FXCL Markets Ltd, a financial services provider, registered in Saint Kitts and Nevis. The global broker offers forex and gold and silver markets to traders of all levels, offering the most popular trading platform as well as four different accounts.
MetaTrader 4 Trading Platform
TusarFX offers the MetaTrader 4 (MT4) platform for all its users. As the most popular trading platform, MT4 offers a range of customisable features, including:
- 50 built-in indicators for technical analysis
- 3 chart types, 9 time frames
- Automated trading (EAs)
- 4 types of pending order
- One-click trading
MT4 can be downloaded directly from the broker’s website. Download instructions can be found in the client portal.
Assets
TusarFX offers trading in forex and commodities. Access over 30 major, minor, and exotic currency pairs, including EUR/USD, EUR/GBP, and GBP/JPY. Precious metals, gold and silver, can also be traded against USD.
The product list is fairly limited compared to other providers. The broker could improve its offering by adding shares, indices, and cryptocurrencies to its list of tradable assets.
Spreads & Fees
Spreads on major currency pairs such as EUR/USD start from 1.1 pips with the Premium account. Other pairs such as GBP/USD and EUR/GBP start from 2.2 and 3.1 respectively. Spreads on gold are around 40 and are approximately 3.5 on silver. These aren’t the lowest spreads, but the broker doesn’t charge commissions with lower account tiers. On the Premium account, a commission is charged at 0.6 pips per standard lot for swap accounts and 1.6 pips per standard lot for swap-free accounts.
Leverage
The maximum leverage offered is 1:500. These are high rates and allow traders to take large positions with a small amount of capital. The broker offers a useful margin calculator on its website.
Mobile Apps
TusarFX offers mobile trading on the MetaTrader 4 app, compatible with iOS and Android devices. The app allows users to access the markets anywhere with advanced mobile features, including real-time pricing, market news, and charting tools. It’s also user friendly and allows for total account management, including making deposits and withdrawals. Customer support is also available in the app.
Payment Methods
Deposits
TusarFX accepts USD wire transfers and payments via Perfect Money. Deposits through Perfect Money are instant via prepaid cards and terminals in Russia and Ukraine. Payments via exchanges from credit cards and numerous e-wallets are also accepted.
TusarFX does not charge deposit fees but traders should check for any intermediary fees with their payment systems.
Withdrawals
Withdrawals can also be made through USD wire transfers, or Perfect Money, which accepts direct payments via bank wire and various exchangers.
Again there are no withdrawal fees from TusarFX, but there may be fees levied by the chosen payment systems.
Demo Account
Traders can open an MT4 demo account by filling in the online registration form on the website. The demo account provides almost identical market conditions where traders can practice without any risk to funds. The simulator account is also a good way to test the MT4 platform and additional features.
Deals & Bonuses
Traders can access a 50% and 20% deposit bonus to bolster trading credit. Also, the broker offers a 70% loss rebate and a surprise birthday bonus. This is a good range of promotions and can help clients make the most of the trading platform and services available.
Regulation
TusarFX Ltd and FXCL Markets Ltd are both offshore companies. TusarFX is registered in Saint Kitts and Nevis while FXCL is registered in St Vincent and the Grenadines. Neither provide the strictest oversight, so clients aren’t afforded the same level as security from scams as FCA or CySEC-regulated providers, for example.
Additional Features
TusarFX offers some practical trading tools, including an economic calendar and a margin calculator. Traders can also access financial news as well as an education centre for beginners. Novice traders can learn how to read quotes, research types of trends, and the basic concepts of the forex market.
Account Types
There are four main account types to choose from, all in USD/EUR/RUR and requiring a minimum deposit of $1 with a minimum position size of 0.01. Leverage up to 1:500 is available across all accounts.
- Light (fixed) – no commission
- Standard (fixed) – no commission
- Advanced (dynamic) – no commission
- Premium (dynamic) – 0.6 pip or 1.6 pip per standard lot
Trading Hours
Market hours on the server run from Sunday at 22:00 to Friday 21:00 GMT+3 in summer and GMT+2 in winter.
Precious metals are available from 01:01 to 23:00 server time (Monday to Friday). Trading exotic pairs are available from 01:00 to 23:59 server time (Monday to Thursday) and from 01:00 to 23:00 server time (Fridays).
Customer Support
TusarFX’s customer support can be contacted via several methods:
- Email – support@tusarfx.com
- Skype – Password.TusarFX
- Online request form – contact us page
- Live chat – located in the bottom right-hand corner of the website
Wait times for live chat and telephone aren’t too long and customer service agents are helpful. Customer reviews of the broker’s support are also mostly positive.
The website is available in English, Russian, Indonesian, Chinese, Malaysian, and Thai.
Trader Security
TusarFX protects client data using 256-bit Secure Sockets Layer (SSL) encryption across the website, as well as using True-Site identity assurance. MT4 also provides dual-factor authentication and follows standard security protocols.
TusarFX Verdict
TusarFX offers forex trading on the popular MT4 platform with competitive leverage and low minimum deposits. The ability to access the platform on the app is also a bonus. The only serious drawbacks are the limited product list and lack of robust regulatory oversight. As a result, there are other providers we’d recommend first.
Accepted Countries
TusarFX accepts traders from 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 most other countries.
Traders can not use TusarFX from United States, Canada, Japan.
Payment Methods
TusarFX Details
| Minimum Trade | 0.01 Lots |
|---|---|
| Islamic Account | Yes |
| Mobile Apps | Yes |
| Margin Trading | No |
| Volatility Index | No |
| Spot Trading | No |
| Perpetual Swaps | No |
| ELWs | No |
| REITs | No |
| AI / Machine Learning | No |
| Robo Advisor | No |
| P2P Trading | No |
| Negative Balance Protection | No |
| VPS Hosting | No |
| Tournaments | No |
| Demo Competitions | No |
| Managed Accounts | No |
| Market Maker | No |
| Auto Trading | Yes |
| Social Trading | No |
| Guaranteed Stop Loss | No |
| Commodities |
|
Forex Trading Details
| GBPUSD Spread | 2.2 |
|---|---|
| EURUSD Spread | 1.1 |
| EURGBP Spread | 3.1 |
| Assets | 30+ |
Compare TusarFX
Compare TusarFX with similar brokers that accept traders from your location. Among available brokers these are the most similar to TusarFX:
-
IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
Go to IG Group -
World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
Go to World Forex -
Just2Trade – Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
Go to Just2Trade
TusarFX Comparison Table
| TusarFX | IG Group | World Forex | Just2Trade | |
|---|---|---|---|---|
| Rating | 1.5 | 4.4 | 4 | 3.5 |
| Markets | Forex, commodities | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting | Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts | Stocks, ADRs, ETFs, Futures, Options, Commodities, Bonds |
| Demo Account | Yes | Yes | Yes | Yes |
| Minimum Deposit | $1 | $0 | $1 | $100 |
| Minimum Trade | 0.01 Lots | 0.01 Lots | 0.01 Lots | 0.01 Lots |
| Regulators | – | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA | SVGFSA | CySEC, NFA, FINRA, Bank of Russia |
| Bonus | 50% deposit bonus | – | 100% Deposit Bonus | Up to $2,000 for professional accounts |
| Education | No | Yes | No | No |
| Platforms | MT4 | MT4, AutoChartist, TradingCentral | MT4, MT5 | MT4, MT5, TradingCentral |
| Leverage | – | 1:30 (Retail), 1:250 (Pro) | 1:1000 | 1:20 |
| Payment Methods | 2 | 6 | 10 | 20 |
| Visit | – | Visit | Visit | Visit |
| Review | TusarFX Review |
IG Group Review |
World Forex Review |
Just2Trade Review |
Compare Trading Instruments
Compare the markets and instruments offered by TusarFX and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
| TusarFX | IG Group | World Forex | Just2Trade | |
|---|---|---|---|---|
| CFD | No | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes |
| Stocks | No | Yes | Yes | Yes |
| Commodities | Yes | Yes | Yes | Yes |
| Oil | No | Yes | Yes | Yes |
| Gold | Yes | Yes | Yes | Yes |
| Copper | No | Yes | No | No |
| Silver | No | Yes | Yes | Yes |
| Corn | No | No | No | No |
| Crypto | No | Yes | Yes | Yes |
| Futures | No | Yes | No | Yes |
| Options | No | Yes | No | Yes |
| ETFs | No | Yes | No | Yes |
| Bonds | No | Yes | No | Yes |
| Warrants | No | Yes | No | No |
| Spreadbetting | No | Yes | No | No |
| Volatility Index | No | Yes | No | No |
TusarFX vs Other Brokers
Compare TusarFX with any other broker by selecting the other broker below.
FAQ
What is the maximum leverage offered at TusarFX?
The maximum leverage offered is 1:500. These high rates can help increase returns, but they can also magnify losses.
How can I make a TusarFX withdrawal?
Withdrawals can be made via wire transfer and using direct or exchange payments through Perfect Money. Head to the client portal to make a withdrawal request.
Does TusarFX charge commission?
TusarFX does not charge a commission for the Light, Standard, and Advanced accounts. For the Premium account, a commission is charged at 0.6 pips per standard lot for Swap accounts and 1.6 pips per standard lot for Swap-free accounts.
How do I register for the TusarFX client portal?
You can register and login to the Trader’s Cabinet via the Live Account button on the website.
Is TusarFX a scam?
Traders should be aware that TusarFX is an unregulated offshore company. There is also a lack of company information on the website to prove its legitimacy.
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| TusarFX is an unregulated forex broker. The brand offers MT4 integration, with a choice of four account types and zero commissions. Most trading strategies are permitted including Expert Advisors (EAs). New clients can also claim a welcome bonus. | ||