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tegasFX -

Score

2.17 /10
Danger

tegasFX

Vanuatu

5-10 years

Suspicious Regulatory License

High potential risk

https://www.tegasfx.com

Influence

D

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Comparison

Quantity 5

Exposure

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Website

Score

Regulatory Index0.00

Business Index7.23

Risk Management Index0.00

Software Index8.22

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
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Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

Clover Markets Limited

Company Abbreviation

tegasFX

Platform registered country and region

Vanuatu

Company website

Facebook

Instagram

Company summary

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 4
Previous Detection : 2024-11-11
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The VanuatuVFSC regulation (license number: 14697) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

Exposure

5 pieces of exposure in total
Pyramid scheme complaint
Expose
Unable to Withdraw

TEGAS IS SCAM

This fake broker delete profits without a email? Abusing trading for what? Im 50 years old, last 10 years trading what i am abusing? Fake broker, stay away

BollinguerBand
2022-10-19 14:26
Scam

PURE SCAM

Fraudsters is not enough, I have been operating for a few days and when I open the account one day and I was missing all the profits. Apparently the broker deleted "abusing trading" what is that???? a pure scam. They are scammers, they are already to be reported to the local police.

FX4255247862
2022-10-19 15:01
Severe Slippage

Add plugins and huge slippage on my account

In order for me to lose money, tegasfx add plugins on my account generating a huge slippage where my trades where placed with more than 800 of slippage, some trades even with more than 2000. This is a FAKE company that claims to be ECN/STP but truth is they are only another fake broker looking to take advantage on clients with the use of plugins. 

Furnari
2022-10-18 04:20
Scam

TEGASFX IS A SCAM BROKER

I have deposited 250$ to this broker, and they deposited 195$. At this point i should have been concerned and withdraw my money and run away, but not, i traded for a week and made some profit and decided to stop trading and requested a withdraw which they claim is 24 hrs, after 3 days they have replied that my profits are deleted and i can withdraw my deposit. This is what we call SCAM BROKER!!! this broker doesn't pay client profits! Hopefully Vanuatu regulators fine them and withdraw their license.

FiboMen
2022-10-18 09:32
Scam

ECN broker, that allow all trading but dont pay my money

I have start trading in Tegasfx few weeks ago and last week i notice that my orders where with huge slippage and i was losing my money because the time i place the trade with the huge slippage i was already losing. I have requested my withdrawal last monday octuber 10 and i was informed that will be proceed within 24hrs. I wated and nothing, then i sent another email and they say my account was nder investigation and then they invented that my trades where abusive that my order where off-market. now how can i place all my trades via my MT5 phone/PC and have them all off-market prices? IMPOSSIBLE because they lie. Well they have taken all my profits. They are SCAMMERS, says they are ECN broker at their website and then come into the email saying they are STP, another lie. They have at their web site twice that they accept EA, HFT, ALL KIND OF TRADING but then when you have a hedging mix with scalping trade they take your profits accusing of abusive trading and saying they are only STP broker. SCAMMERS!!!! DO not operate in this broker!!!! Im European and ill proceed with formal complaint to the regulators. 

Furnari
2022-10-18 03:29
tegasFX · Company summary

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

Feature Detail
Regulation Suspicious clone
Market Instrument forex, precious metals, commodities, CFDs, crypto
Account Type MT4 ECN/STP, MT4 ECN/STP PRO＋, MT5 ECN/STP PRO and FIX API 4.4
Demo Account yes
Maximum Leverage N/A
Spread (EUR.USD) Average 0.2 pips
Commission Vary on the account type
Trading Platform MT4 & MT5
Minimum Deposit Vary on the method
Deposit & Withdrawal Method Bank transfer, credit cards, ADVCash, Bitcoin, Ethereum and US Tether

tegasFX, a trading name of Clover Markets Limited, is allegedly a forex and CFD broker incorporated in 2016 and registered in the Vanuatu that claims to provide its clients with various tradable financial instruments with floating spreads on the MT4 and MT5 trading platforms via four different live account types, as well as 24/5 customer support service. Here is the home page of this brokers official site:

General Information & Regulation

As for regulation, it has been verified that tegasFX is suspected to be clone. That is why its regulatory status on WikiFX is listed as “Suspected Fake Clone” and receives a relatively low score of 2.01/10. Please be aware of the risk.

General Information & Regulation
General Information & Regulation

Market Instruments

tegasFX advertises that it offers access to 100+ trading instruments in financial markets, including forex, precious metals, commodities, CFDs, and cryptocurrencies.

Account Types

Apart from free demo accounts, tegasFX claims to offer four types of trading accounts, namely MT4 ECN/STP, MT4 ECN/STP PRO＋, MT5 ECN/STP PRO and FIX API 4.4, with minimum initial deposit requirements of $200, $1,000, $2,000 and $5,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

Account Types

Spreads & Commissions

All spreads with tegasFX are a floating type and scaled with the asset type. The average spread on the EUR/USD pair is 0.2 pips. As for the commission, there is a $4 per side per 100,000 traded on the MT4 ECN/STP account, from 3.5$ per side on the MT4 ECN/STP PRO＋ account, 3.5$ per side per 100,000 traded on the MT5 ECN/STP PRO account, while the commission on the FIX API 4.4 is not specified.

Spreads

Trading Platform Available

The platforms available for trading at tegasFX are the most notable and preferred trading platforms the market offers - MetaTrader4 and MetaTrader5, which are highly praised by traders and brokers alike due to its ease of use and great functionality. They offer top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.

Deposit & Withdrawal

tegasFX says to work with numerous means of deposit and withdrawal choices, consisting of Bank transfer, credit cards, ADVCash, Bitcoin, Ethereum and US Tether. Minimum deposit and withdrawal amount vary on the method. More details can be seen on the below screenshot.

The broker does charge some deposit and withdrawal fees. Bank tranfer deposits require 1-2 working, while other deposit and withdrawal requests can be processed on the same day.

Deposit
Withdrawal

Customer Support

tegasFXs customer support can be reached by telephone: +65 316 367 71, email: info@tegasfx.com, live chat or send messages online to get in touch. You can also follow this broker on social networks such as Facebook and Instagram. Company address: Pot 805103 Rue D' Auvergne, Port Vila, Vanuatu.

Pros & Cons

Pros Cons
• Multiple trading assets, account types and payment options offered • Suspicious clone
• Demo accounts available • No information on the leverage
• MT4 & MT5 supported

Frequently Asked Questions (FAQs)

Q 1: Is tegasFX regulated？
A 1: No. It has been verified that tegasFX is a suspected fake clone.
Q 2: At tegasFX, are there any regional restrictions for traders？
A 2: Yes. Citizens and residents of the following countries are prohibited from opening a trading account: Bangladesh, Belarus, Bolivia, Cuba, Cote d‘Ivoire (Ivory Coast), Democratic Republic of Congo, Ecuador, Former Liberian Regime of Charles Taylor, Iran, Kyrgyzstan, Liberia, Libya, North Korea, Republic of Vanuatu, Singapore, Sudan, Syria, United States of America, Zimbabwe.
Q 3: Does tegasFX offer demo accounts？
A 3: Yes.
Q 4: Does tegasFX offer the industry-standard MT4 & MT5？
A 4: Yes. tegasFX offers both MT4 and MT5.
Q 5: What is the minimum deposit for tegasFX？
A 5: The minimum initial deposit differs depending on the method.
Q 6: Is tegasFX a good broker for beginners？
A 6: No. tegasFX is not a good choice for beginners. Though it claims to offer demo MT4 and MT5 accounts, we can’t forget that it is unregulated.

User Reviews

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周见录³⁷⁸⁹
more than one year
Excellent trading experience with tegasFX. I found them very helpful not just as a trading platform but also as a good trainer, and listener, always being there for me through the market's up and down. I have learnt a lot and built a lot of confidence in trading. I feel like I can trust and stay with tegasFX for the long term.
Excellent trading experience with tegasFX. I found them very helpful not just as a trading platform but also as a good trainer, and listener, always being there for me through the market's up and down. I have learnt a lot and built a lot of confidence in trading. I feel like I can trust and stay with tegasFX for the long term.
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2023-03-14 14:52
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阿牛
more than one year
These scammers are so rude, trying to constantly extract more and more money from you, never-ending phone calls, pressure intimate calls... Please read reviews before even thinking of giving these GREEDY CREEPS your hard-earned money.
These scammers are so rude, trying to constantly extract more and more money from you, never-ending phone calls, pressure intimate calls... Please read reviews before even thinking of giving these GREEDY CREEPS your hard-earned money.
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2022-12-19 17:35
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5