Tastyfx Reviewed and explained

Tastyfx Broker review — Safety, assets, support, and many more!

Tastyfx is a broker that operates solely in the United States, and its parent company is IG Markets, which is also a broker. Since it is not possible to trade CFDs in the USA (it is prohibited by the regulator), the broker only offers spot FX pairs and offers low spreads from 0.8 pips. However, the broker does not offer any other markets, which is a downside.

The Safety and Security of tastyfx 

Tastyfx is a registered retail foreign exchange dealer (RFED) at the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA). The broker is licensed by the NFA to provide currency pairs for local traders. As the broker is licensed in the USA, it adheres to robust U.S. standards for financial transparency and customer protection.

However, tastyfx does not provide negative balance protection, meaning traders should be careful with leverage. Overall, tastyfx seems a legit Forex broker that is transparent and secure for FX trading in the United States.

Tastyfx Fees and Spreads

Tastyfx is a U.S.-based Forex broker that has to operate under very strict regulatory oversight. However, it still manages to provide low spreads from 0.8 pips, which is very competitive. The broker allows commission-free trading, and its income is mainly generated from spreads. On EUR/USD, the spreads are 0.8 pips while on other majors, it is around 1 pip. The broker does not offer accounts with 0 pips spreads, which is a downside as scalpers will have to find another broker. High-volume professionals can benefit from volume-based rebates of up to 15% on spread costs.

Tastyfx Accounts, Deposits, and Withdrawals 

Tastyfx offers only one live account for the general audience and one for professional traders with VIP services. The standard account is designed for everyday traders and has a minimum 250 USD deposit requirement, a leverage of up to 1:50, and has 0 commissions for trading. Spreads are from 0.8 pips on EUR/USD and 1 pip on other major pairs. The premium account offers additional perks such as personal managers, newsletters, more in-depth market analysis, and free VPS service for the MT4 platform. There is also a demo account available, which is useful.

Tastyfx Deposits and Withdrawals

Deposits and withdrawals are done through several payment options, including bank cards (Visa and MasterCard), ACH bank transfer, and wire transfer. The withdrawals are long and take 3-5 business days, which is very lengthy. Deposits are mostly instant and commission-free. Wire transfer fees are 15 USD. The account dashboard is used for all transactions.

Tastyfx Trading Platforms, Assets, and Features

The broker offers a range of advanced trading platforms like MT4, TradingView, and ProRealTime. The ProRealTime is a web-based platform that supports custom indicators and comes with around 100 indicators that are built into it. Traders are also allowed to use custom indicators and Expert Advisors (EAs). For mobile trading, the broker offers the tastyfx mobile app, which is accessible on all mobile devices, including Android and iOS.

The broker offers additional features such as an integrated economic calendar and real-time news feeds. Client sentiment data and trade analytical tools are also provided. Premium traders can use a free VPS service for their MT4 platforms to ensure uninterrupted trading.

Tastyfx Assets

Tastyfx Forex broker only provides access to FX pairs, which are spot pairs, as CFDs are not allowed in the USA. The broker offers around 80 spot Forex pairs, including majors, minors, and even exotics. The leverage is up to 1:50, as this is the maximum limit allowed by the regulator.

There are trading bonuses available of up to 10,000 dollars, which have conditions, and traders should carefully read all their requirements.

Tastyfx Customer Support Review

The broker does not have live chat support, which is a serious downside and a red flag. However, it provides phone support, a physical office, and email options. New clients and existing clients are given different phone numbers to contact the broker, which is flexible. Both the website and support are only provided in the English language.

Tastyfx Education

The broker excels in trading education with its diverse materials and resources. There are different articles and guides to teach beginners trading concepts and tutorials for trading platforms. However, there are no dedicated webinars, which is a downside. Newsletters and insights are only available for professional clients, which is a downside as well.

Should you consider Tastyfx? 

Tastyfx is a legit and reliable Forex trading platform in the United States that offers only currency pairs (spot, not CFDs). The spreads are competitive from 0.8 pips, and there are no commissions charged. However, there is no live chat, and withdrawals are a lengthy process, which is a drawback. The broker offers phone support, and there are offices in the USA that can also be used for support, although uncomfortable. Minimum deposit starts at 250 dollars, and maximum leverage is up to 1:50. There are no ECN accounts for 0 pips or fixed spreads trading, which is also a downside for this broker.

FAQ on Tastyfx