Tastyfx Forex broker review — Everything you need to know

Tastyfx is the company’s trade name, which is a US-based Forex broker, offering access to over 80 currency pairs with competitive spreads from 0.8 pips on EUR/USD and from 1 pip on other major pairs. The broker has a parent company, IG Markets Ltd, which is a regulated Forex and CFDs broker. Since CFDs are prohibited in the United States, tastyfx only provides spot FX pairs. The broker is regulated in the United States, making it a legitimate broker that can be trusted. However, some conditions are not attractive, such as lengthy withdrawal procedures and no ability to access zero spread or fixed spread accounts. Main features include a user-friendly interface, commission-free trading, advanced charting tools, and integration with popular platforms like MT4 and TradingView.

Safety of the TastyFX broker

Tastyfx is a Commodity Futures Trading Commission (“CFTC”) registered Retail Foreign Exchange Dealer (RFED) and Introducing Broker (IB) and Forex Dealer Member (FDM) of the National Futures Association (“NFA”). The broker is regulated by the NFA, making it a legit broker in the United States.

The broker does not provide negative balance protection, which is a downside as traders might become liable for losses beyond their account balance.

The broker is a member of the investor compensation fund, and all trader funds are in segregated bank accounts, meaning they can not be touched by the broker.

Tastyfx Overview of the website

Tastyfx offers a user-friendly, responsive website, and all information is given clearly. However, some details are missing, and traders have to dig deeper into the website to find clues. For example, the broker is not clear about its account types and minimum deposit requirements. Despite these minor issues, the website of TastyFX is suitable for both beginners and pros. Key features include well-organized tabs where traders can quickly find needed information, such as commissions, spreads, learning materials, support, and so on. Overall, the website is fast and offers information about 80% of the broker’s services while missing key details about deposits and withdrawals, and accounts.

Tastyfx Accounts Reviewed

Tastyfx offers a streamlined account structure that is designed to cater to the needs of FX traders, both beginners and experienced. There are two main live accounts: standard and premium. While the standard is for everybody, the premium account offers a VIP level experience and is designed for professionals with a high budget and large trading volumes.

Tastyfx Standard Account

The minimum deposit required for the live account is 250 dollars, with a maximum leverage capped at 1:50. This leverage is due to the restrictions of NFA, which does not allow leverage beyond 1:50 for major FX pairs. With this leverage, the broker adheres to U.S. regulatory standards. The spreads start from 0.8 pips on major pairs such as EUR/USD, which is very competitive. There are no trading commissions charged for these spreads.

There is a demo account offered as well, with similar conditions including spreads and zero commissions to help traders develop or test trading strategies.

Tastyfx Premium Account

The premium account is for experienced professionals and offers many additional features, including a personal account manager, newsletters, and more in-depth market analysis. Traders are also given free VPS access for MT4 algorithmic trading, which should enable them to trade without interruptions. There are cashbacks given on this account, but the broker requires large trading volumes for traders to be eligible for all benefits.

Deposit and withdrawal options at tastyfx

Deposits and withdrawals at TastyFX are supported via several payment methods, such as bank wire transfers and bank cards, which is pretty standard in the United States. Using debit cards (Visa, MasterCard), traders can deposit instantly without fees. The daily maximum deposit limit is 99,999 USD. ACH bank transfers are also accepted, and deposits are processed within 3 business days, with a daily maximum of 25 grand. Wire transfers are typically available within one business day for deposits.

Debit card and ACH bank transfers are also available for withdrawals but require 3-5 business days. Wire transfers are promised to be completed within 24 hours with a 15 USD fee, however, they are usually processed within the same time window as other withdrawal methods.

To deposit or withdraw funds, traders have to log into their account dashboard on the website and follow instructions.

Tastyfx Assets — What can you trade?

Tastyfx is a regulated Forex broker that only provides access to Forex currency pairs. It offers over 80 currency pairs, including:

• Major pairs – EUR/USD, GBP/USD, USD/JPY, etc.
• Minor pairs – GBP/JPY, CHF/JPY, CAD/JPY, etc.

There are also emerging economies’ currencies and exotic pairs offered, enabling traders to trade or invest in many different countries’ currencies. The leverage is limited to 1:50, which is enough to control considerable trading volumes. The broker does not provide other types of assets such as equities or cryptos, which is a downside.

Trading platforms of TastyFX

The broker provides access to a wide variety of advanced trading platforms such as MetaTrader 4 (MT4), TradingView, its own mobile app, and ProRealTime. MT4 and TradingView support Expert Advisors and custom indicators, and ProRealTime is a web-based platform with over 100 indicators and the ability to develop custom indicators. Mobile trading is available with the broker’s proprietary trading app, which is flexible and user-friendly. Traders can also access VPS services for the MT4 platform. TradingView offers seamless integration with tastyfx and enables traders to access advanced charting tools and social networking features.

Education at tastyfx

Tastyfx offers a range of educational resources that were designed to enhance traders’ knowledge and skills in financial trading. All these resources are provided on the platform’s website and include:

• How to trade Forex – Forex trading strategies guide coupled with market analysis, and risk management.
• Risk management tools – Educational resources focused on leverage, margin calls, and guides on how to use stop-loss orders to manage trading risks effectively.
• Forex need-to-knows – Resources designed for beginner traders with explanations of FX pairs and basic chart analysis.

Overall, the broker offers a considerable number of learning materials, which are useful for beginners.

Tastyfx Customer Support

The broker offers several customer support options. There are phone support and email channels available. The broker does not offer live chat, which is a considerable downside. However, there is also a physical office support option, which is useful for local traders. There is a help desk, and traders can also select support depending on whether they have an account or not.

Tastyfx bonuses and promotions

The broker offers up to 10,000 USD in bonus, but trading conditions apply. There are up to 15% rebates, and premium clients can get access to VIP services such as personal managers and fee reimbursements.

Is tastyfx your broker? Final verdict

Tastyfx is regulated by the NFA or the USA and offers Forex trading on spot currency pairs. The broker does not charge commission and offers low spreads from 0.8 pips on major FX pairs, which is competitive. The broker offers advanced platforms (MT4, TradingView), and mobile trading is also available. While there is no live chat, the broker offers email and phone support options, coupled with a physical office support option as well. Overall, the broker is legit and reliable and offers promotions as well.

FAQs on TastyFX Broker

Where is tastyfx based?

Tastyfx is a regulated Forex broker based in the United States with its headquarters located in Chicago.

Can you withdraw from TastyFX?

Yes, withdrawals can be made via bank cards or wire transfers and take around 3-5 business days to get processed.