tastyfx Review

tastyfx Ratings at a Glance

tastyfx Quick Overview

tastyfx combines ease of use with strong security measures, ensuring traders can confidently manage their accounts. The platform employs 256-bit SSL encryption across its web and mobile interfaces, safeguarding data and protecting transactions from unauthorized access. While two-factor authentication (2FA) is available for added security, it is optional rather than mandatory, giving users flexibility in securing their accounts.

tastyfx is well-regulated under its parent company, IG Group, which has a solid reputation for compliance with governmental regulations. While tastyfx is not registered with the SEC or FINRA, nor is it a member of the SIPC, it operates as Retail Foreign Exchange Dealer (RFED) and is registered with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA), both regulating forex dealers. These regulatory bodies ensure transparency by requiring the publication of specific disclosures. Importantly, neither IG nor tastyfx has faced any instances of noncompliance, further bolstering their credibility and commitment to security.

tastyfx offers a transparent and competitive pricing structure tailored for traders of all levels. When opening a forex position, users will encounter two main costs: the spread and an overnight funding adjustment (also known as a rollover) if the position is held past 5 p.m. EST. The spread is the difference between the bid and ask prices, which fluctuates based on market conditions​.

The overnight funding or "tom-next" adjustment (short for tomorrow-next day) comes into play when a position is held overnight. This standard practice in forex trading prevents traders from physically delivering the currency. Instead, the position is rolled over to the next trading day. tastyfx calculates this rollover by factoring in the interest rates of the currencies involved. You'll receive a payment if you're holding a position in a currency with a higher interest rate. If the opposite is true, you'll pay interest. Forex positions typically settle on a T+2 basis, with special conditions for certain pairs like USD/CAD, which follow a T+1 schedule​.

In addition to these costs, tastyfx charges an admin fee of 0.5% annually, which is added to the rollover calculation. Weekend positions incur a three-day rollover on Fridays, while public holidays are also considered when calculating overnight fees​. For traders, these pricing details ensure clarity and predictability, making it easier to manage and estimate the overall cost of trading.

The pricing is competitive, with no commissions and low spreads on major currency pairs like EUR/USD, which average around 1.0 pips. The $15 withdrawal fee for wire transfers could be a drawback for frequent traders​.

tastyfx delivers a well-rounded offering, forex traders will appreciate the 80+ currency pairs, including majors, minors and exotics, allowing for low-risk and speculative trading opportunities. The platform lacks cryptocurrency trading. For those interested in forex specifically, tastyfx’s range is robust, but traders looking for broader market access (e.g., stocks, cryptos) may find it somewhat limited.

• Customizable platform: One of tastyfx’s standout features is the ability to customize the platform based on individual trading preferences. Whether you're a fan of minimalist design or prefer loading up on technical indicators, tastyfx’s platform adapts easily.
• In-depth education: Another highlight is the educational tools provided by tastyfx. Beginners and intermediate traders alike can benefit from webinars, video tutorials and articles covering both basic and advanced trading strategies. This wealth of resources makes it easier for traders to improve their skills over time.
• Advanced charting tools: tastyfx’s highly detailed charting tools allow traders to perform sophisticated technical analysis. With dozens of indicators and the ability to draw trend lines, Fibonacci retracements and more, tastyfx caters to traders who rely heavily on technical data.

tastyfx provides excellent customer support, with service available 5 days a week, 24 hours a day, from 3 a.m. Saturday to 5 p.m. Friday (EST), ensuring traders can reach out for help during the entire trading week. For existing accounts, users can contact chat support on the website and email support at helpdesk.us@tastyfx.com or by phone at (312) 981-0498. For new accounts, inquiries can be directed to newaccounts.us@tastyfx.com or by phone at (312) 981-0499. Their office is at 1330 W Fulton, Suite 610, Chicago, IL 60607. While the support availability is strong, remember you must be logged in to live chat with an agent.

The user experience on tastyfx is fluid and straightforward. From signing up to executing trades, everything feels intuitive and well-organized. The onboarding process is quick, usually taking less than 10 minutes and account verification is completed within 24 hours. Navigating the platform is seamless and both novice and experienced traders should feel comfortable using it without much of a learning curve. The trading dashboard is customizable, allowing users to set it up in a way that aligns with their preferences. 

tastyfx is packed with benefits for traders looking to develop their skills and knowledge. The educational hub is a significant advantage, with well-organized resources that range from beginner lessons to advanced trading techniques. The absence of cryptocurrency trading is a downside, but the in-depth educational materials compensate somewhat by offering traders valuable insights into forex markets. The platform’s ability to create custom strategies gives traders more control over their risk management and overall trading approach.

tastyfx offers a top-rated forex trading mobile app, available on both the App Store and Google Play. The app allows traders to manage their accounts and trade over 80 currency pairs wherever they are. It provides full trading functionality, enabling users to open, close and monitor positions seamlessly. You can also send limit orders at your preferred price levels and receive real-time notifications when they're filled. Risk management is made simple with stop-loss orders that can be added to any active position.

The app features advanced charting tools, customizable charts and a variety of technical indicators, making it easy to conduct detailed market analysis on the go. With more than 15 different time intervals, traders can stay on top of market movements and adjust their strategies accordingly.

Users can also create price alerts and receive push notifications for key market moves and economic events, ensuring they never miss an opportunity. The app even lets you manage your account, add or withdraw funds, view trade history and customize the app’s appearance with light and dark themes. This makes the tastyfx app an excellent choice for traders looking for speed, flexibility and advanced functionality in a mobile trading platform.

tastyfx is a excellent forex broker, offering a customizable platform with competitive pricing, advanced tools and an intuitive mobile app. The platform is robust, featuring both a proprietary platform and widely-used tools like MetaTrader 4 and ProRealTime, which provide advanced charting and nearly 100 indicators for in-depth analysis. The user experience is smooth across both web and mobile platforms, making it accessible for beginners and experts. tastyfx is also known for excellent customer support, offering 24/5 assistance through phone, chat, and email, which is rare in the industry. Additionally, it is well-regulated by the CFTC and NFA, ensuring a high level of security and compliance.

tastyfx vs. Competitors

A few key differences stand out when comparing tastyfx to major U.S. forex brokers like FOREX.com and OANDA. One of the primary distinctions is the minimum deposit. tastyfx requires a $250 minimum deposit, which is higher than FOREX.com’s $100 requirement, while OANDA has no minimum deposit at all, making it a more accessible option for beginner traders. tastyfx, however, compensates with competitive spreads starting at 0.8 pips and no commissions, offering a cost-effective trading experience similar to OANDA’s commission-free structure. FOREX.com, by contrast, charges $5 per $100,000 traded on certain account types.

Another important difference is in product offerings. While tastyfx provides 80+ currency pairs, it lacks cryptocurrency trading, which both FOREX.com and OANDA offer. This gives FOREX.com and OANDA a broader appeal for traders looking to diversify into digital assets. tastyfx shines in terms of regulation, providing higher security and trust.

Regarding platforms and customer service, tastyfx offers a user-friendly web trader and mobile app similar to its competitors. Both FOREX.com and OANDA provide more platform options, like MetaTrader 5, which tastyfx lacks. While tastyfx is a great choice for those focused on forex trading with low costs and strong regulation, FOREX.com and OANDA offer broader asset classes.

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