Beware! Taveron FX is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
TaveronFX’s Spanish-only interface points out one crucial thing about thins broker. That it targets Spanish speakign users of which there are hundreds of million, allowing the scammer to lie and cheat its way. So read the review to find out how to protect yourself from this firm.
The only thing we are told throughout the broker site is that it is registered in Saint Vincent and the Grenadines, a location that is well known for harboring thousands of scammer and illicit brokers at a time. There is no official FX regulator there, and the local laws are adjusted to accept scammers without restrictions, meaning that every hard working fraudster can easily incorporate his business there and profit for as long as it can remain intact. Therefore, TaveronFX cannot be licensed in Saint Vincent and the Grenadines, and it isn’t.
Considering that the site presents no further information, we have no other choice but to deem TaveronFX an unlicensed firm and a risk to all.
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
Taveron FX Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|Taveron FX No Platform||❌||❌||❌||❌|
|cTrader||40+ indicators||✅||✅||Android and iOS|
We were not able to open an account because the registration process produced an error right at the end of the whole process, which ended with us having to rely on the website for all the trading and payment info. The internal error, which was really internal, means that the firm is already on its way to an early retirement.
The website advertises a very advanced trading software, akin to the MT4 and MT5, with cutting edge top of the line features such as MAM application, Multi-Level IB Module, Manager API, and tons more. But there was no way to actually get a hold of this futuristic trading software. In effect, we do not trust any of these statements; what we have come to expect form brokers like TaveronFX is poor and awkward web traders.
Taveron FX Trading instruments
There was no info on the website concerning the available trading assets, not that we ever expect to be able to trade with this scammer broker.
Taveron FX Spreads and cost of trading
|Spread EURUSD||1 pip||1.7||1||1.1|
The spread has been said to be 1 pip for the Standard account, but this cost of trade is useless in a platform-less environment. However, we have to say that a 1 pips spread is very good, when really offered by a legit broker. Just make sure the firm dealing it is regulated.
Taveron FX Maximum leverage
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
The maximum leverage cap is 1:400, at least for the standard account, but as already revealed there is no way to apply this leverage, so the whole thing is useless. Of you want high leverage brokers that are proven to be legit and functioning then look to these brokers.
Taveron FX Deposit and withdrawal methods
|Deposit time||Withdrawal time||Fee|
|Bank wire||3-5 business days||2-5 business days||$25|
|Credit card||Instant||No Information||Free|
|Paymt2||No information||No information||2%|
|Crypto||24 hours||24 hours||Fee depends on crypto|
There is absolutely no information on deposit and withdrawals whatsoever. The issue is that there is no proof that the broker risk functional, and by the looks of it we don’t think so.
The most popular payment methods with scammers are crypto wallets and bank transfers, both difficult to trace and risky with shay firms like this broker. The typical processing time is up to 1 hour for crypto wallets, and up to 5 days for bank transfers.
Taveron FX Minimum deposit
The minimum deposit is $300, which is too high to begin with, considering the modern trend of offering very low minimum deposit. So, here’s another reason why not to invest with this unlicensed broker.
Taveron FX Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|Taveron FX||Not disclosed||Not disclosed||Not disclosed|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
As already revealed, there is no payment information at all. The moot crucial thing to make sure with unlicensed brokers, and even those that are legit, is to look out for incoming fees, on withdrawals or activities that are usually not commissioned. The most popular shady clauses are those that require turnover requirements, bloated fees on payments, third party commissions, and other “admin fees”. Always be on the lookout for these.