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Contract reading

What Taurex legally published, but does not want you to read

Every clause below is published by Taurex itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: Taurex Global Limited

sole discretionhidden feecounterpartydebt to brokerdeemed acceptanceevent of defaultprofit voidingwithdrawalsabusive tradingaccount freeze

Taurex decides alone what counts as abusive trading, and can then claw back your profit. A catch-all default clause lets it refuse withdrawals, and you get 24 hours to object to a trade. Five translated homepages promise $1 million fund protection that the contract never mentions. The English site promises segregated funds, but the contract says your trading money is not client money.

Back to Taurex

Contract risk

Money at risk
8.0/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
9
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
20
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
20
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
7

How the 20 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical9
Warning8
Notice3

section 76 of 78is where the deepest clause sits, 97% of the way into the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

4 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical70%Profit at risk. Jump to the clause this comes from.Taurex decides what counts as abuse and claws back profitCritical$1000000In the contract. Jump to the clause this comes from.Five translations promise $1 million protection the contract never mentionsCritical1 daysTime to complain. Jump to the clause this comes from.You get 24 hours to object to a tradeCritical$500Account limit. Jump to the clause this comes from.Negative balance protection has exceptions that can leave you owing

What the documents say

20 clauses worth knowing about, worst first, each quoted from Taurex's own files

01

Taurex alone decides whether your trading was abusive, and it can then claw back your profit. Its list includes scalping (very short trades), trading around news to exploit thin markets, and more than 70% of your exposure in one product or direction. Under clause 30.2, Taurex has to find only that abuse likely happened.

Why this matters

Short-term traders and anyone who sticks to one market fit this list. Clause 29.3 also lets Taurex void trades if you fall outside its acceptable risk profile, a test the contract never explains.

Exhibit 1CriticalRarely seen70%

The existence of any and all forms of market abuse and/or prohibited trading practices, including but not limited to the forms of abuse listed below, are to be determined by Taurex in its sole and absolute discretion.
Clause 30.1 in Terms and Conditions, p.27
Downloaded from the broker's site on Open the reference

Our readingMost abuse clauses target latency tricks and bonus farming. Clause 30.1(i) can also treat plain conviction, more than 70% of your exposure in one product or one direction, as a prohibited practice, and clause 30.1(a) bans scalping without saying how short is too short.

  • Worse together with Exhibit 4Suspected abusive trading is also an Event of Default under clause 15.1(m), so the suspicion that lets Taurex claw back profit lets it refuse your withdrawal too.
02

Taurex's Safety of Funds page says it keeps your funds apart from the company's own accounts. The contract keeps that promise only for money Taurex decides you do not need for trading. Under clause 16.2, money backing your trades is an Operational Amount, and it is not client money.

Why this matters

Segregation is what keeps client money away from a broker's creditors if the broker fails. Under this contract, the money behind your open trades does not have that protection.

Exhibit 2CriticalRarely seen

Unless the Company determines that any transfers are disproportionate to the position(s) placed with it by the Client, Operational Amounts do not constitute Client Money for the purposes of the Applicable Law and Regulations.
Clause 16.2 in Terms and Conditions, p.14
Downloaded from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA, or by CySEC under EU rules, must hold a retail client's money as client money, apart from the firm's own funds. They may not use title transfer arrangements to take a retail client's money outside those rules. This contract says the money backing your trades is not client money unless Taurex decides it exceeds what your positions need.

Taurex is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingMost client agreements treat every deposit as client money. Clause 16.2 reverses that default: money that backs your positions falls outside the client money rules unless Taurex decides you sent more than you need.

03

Taurex's Arabic, Chinese, Malay, Spanish and Thai homepages promise fund protection of up to $1 million. The English homepage makes no such promise, and none of its 20 legal documents describes it. Clause 5.2(c) says you will not benefit from any compensation scheme.

Why this matters

If you read Taurex in your own language, you may deposit believing up to $1 million is covered. The contract you sign names no insurer, limit or condition, and clause 37.1 makes its English text win.

Exhibit 3Critical$1000000

NO REGULATORY PROTECTION: the foreign exchange market is unregulated and although all Contracts are executed in accordance with Applicable Laws and Regulations, the Client will not benefit from any compensation scheme in respect of its foreign exchange trading through the Company.
Clause 5.2(c) in Terms and Conditions, p.6
Downloaded from the broker's site on Open the reference
  • Worse together with Exhibit 2One protection is promised in translation and the other in English, and the contract gives neither to the money backing your trades.
04

Taurex can refuse your withdrawal once it declares an Event of Default. The list of defaults ends with a catch-all: any case where Taurex reasonably believes action is necessary or desirable to protect its best interests. It can also block your account, and that of any other client it considers involved in suspicious activity, until it decides.

Why this matters

No clause puts a time limit on the block or the investigation. Clause 17.3 says Taurex processes withdrawals promptly, but nothing gives a date by which it must pay you.

Exhibit 4CriticalHarder than usual

take any actions deemed necessary, including but not limited to refusing to allow the Client to withdraw money from their Account(s).
Clause 15.2(ix) in Terms and Conditions, p.14
Downloaded from the broker's site on Open the reference
05

You have 24 hours after a trade to object to it, by phone or email. After that, clause 20.2 treats your silence as agreement to everything Taurex did. Under clause 22.8, Taurex itself settles any dispute about its quoting, execution or fee errors.

Why this matters

A problem with a Friday evening trade runs out of time on Saturday evening, before the market reopens. After that, Taurex judges its own errors and can reset your balance to before the mistake, profits included.

Exhibit 5CriticalHarder than usual1 days

The Client can object to any transaction via phone or via e-mail info@tradetaurex.com no later than 24 hours after the transaction has been performed.
Clause 20.1 in Terms and Conditions, p.18
Downloaded from the broker's site on Open the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Within 24 hours of the tradeYou can object by phone or by email to info@tradetaurex.com.20.1
No objection madeYour silence counts as agreement to everything Taurex did.20.2
  • Worse together with Exhibit 16Taurex settles disputes about its own errors under clause 22.8, and clause 22.5 caps what it owes you even when the error is its own.
06

Taurex promises negative balance protection, meaning you cannot lose more than you deposit, then narrows the promise. Protection applies only in countries Taurex designates, and the contract gives USD 500 as an example limit for automatic resets. Clause 26.1(d) also makes you pay any negative equity caused by price gaps.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

Price gaps, over a weekend or a news release, are when stop-outs fail and accounts fall below zero. Clause 23.1 makes you pay the shortfall whether Taurex asks or not, and late sums can carry 5% interest a month.

Exhibit 6CriticalHarder than usual$500

NBP ensures that a Client cannot lose more than the funds deposited into their account, and where a Client’s account balance falls below zero as a result of trading activity, the balance shall be reset to zero, provided the Company’s trading systems and NBP plugin are functioning correctly.
Clause 24.1 in Terms and Conditions, p.22
Downloaded from the broker's site on Open the reference

What it costsA negative balance of $1,000 is twice the USD 500 example in clause 24.3, so it goes to manual review instead of an automatic reset.

Set against a regulated standard: ESMA (EU), FCA (UK)

Under ESMA's product rules for CFDs, matched by the FCA's own rules, every retail client gets negative balance protection: losses on an account can never exceed the money in it. This contract limits protection to jurisdictions Taurex designates, handles other negative balances case by case, and makes you pay negative equity caused by price gaps.

Taurex is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 11A negative balance you owe under clause 23.1 becomes an overdue amount if unpaid, and clause 10.2 lets Taurex charge 5% a month on it.

Taurex judges abuse alone and can take the profit back

Holding more than 70% of your exposure in one product or direction is among the practices the Taurex Terms and Conditions can treat as abuse. Taurex alone decides, and clause 30.2 lets it claw back profit once abuse is merely likely. For swap-free accounts, clause 28.6 lets it cancel every trade and profit in all your accounts.

Profit removal1 clause flagged

Taurex offers swap-free accounts, with no overnight interest, to clients of Islamic faith. If it decides in its opinion that you abused one, it can close all your accounts and cancel every trade and profit in them. It can also withdraw swap-free status at any time without explanation.

Why this matters

One disputed swap-free trade can erase months of profit on your other accounts as well. The test is Taurex's opinion, and you bear every cost of the changes, including wider spreads.

Exhibit 7CriticalHarder than usual

Furthermore, in the event that the Company, in its opinion, detects any form of abuse, fraud, manipulation, ‘interest’/‘cash-back arbitrage’, or any other form of deceitful or fraudulent activity in regard to any and all swap-free Accounts held by the Client, the Company reserves the right, without prior verbal or written notice, at any time, to take the following actions:
Clause 28.6 in Terms and Conditions, p.24
Downloaded from the broker's site on Open the reference

Paperwork gaps at Taurex can freeze, close or forfeit an account

Taurex clients have 30 days from depositing to pass identity checks, or Taurex can end the relationship at once under clause 6.5. The Payments Policy takes money only from the declared country of residence. It warns that failing to document a move may mean forfeiture of funds.

Document demands1 clause flagged

Taurex accepts deposits and withdrawals only from the country of residence you declared at signup. If you move and fail to update your records with documents, the Payments Policy says you risk forfeiture of funds. You must also pass identity checks within 30 days of depositing.

Why this matters

Moving abroad is ordinary life, and the policy neither limits the forfeiture nor says who decides it. A missed document request is also an Event of Default, which can stop a withdrawal.

Exhibit 9CriticalRarely seen30 days

Failure to comply with this policy may result in the suspension or termination of account privileges, as well as forfeiture of funds.
Clause 4.4 in Payments Policy, p.7
Read from the broker's site on Open the reference

Buried at section 76 of 78 in the Payments Policy, 97% of the way through.

Our readingIdentity and residency checks are routine. Losing the balance for failing to document a move is not: most contracts freeze the account until the papers arrive.

  • Worse together with Exhibit 4A missed document request is an Event of Default under clause 15.1(b), and that is what lets Taurex refuse a withdrawal under clause 15.2(ix).

A quiet Taurex account pays USD 20 a month

Taurex charges USD 20 a month on accounts with no trades or open positions for 90 calendar days, once it has told the client, under clause 31.1. When the balance reaches USD 20 or less, Taurex can keep it. Its Payments Policy confirms that a retained balance is non-refundable.

In plain words

Dormancy means an account left unused.

Dormancy charges1 clause flagged

After 90 days with no trades and no open positions, Taurex can treat your account as inactive. Once it has told you, it can charge USD 20 at the end of every month. When the balance falls to USD 20 or less, Taurex can keep it, and that money is non-refundable.

Why this matters

Taurex takes money you leave idle as fees month by month, and keeps the last USD 20 outright. Neither the Fees page nor the Pricing page mentions this charge.

Exhibit 8CriticalHarder than usual$20

Where no Activity has occurred on Client’s Account for 90 calendar days or more, your Account will be considered inactive. Once the Company has notified you that your Account is inactive, the Company may charge a monthly fee of USD 20.00 (or other amount as notified) at the end of each calendar month on inactive Accounts.
Clause 31.1 in Terms and Conditions, p.29
Downloaded from the broker's site on Open the reference

What it costsA $500 balance pays USD 20 a month. After 24 charges it is down to USD 20, and clause 31.1 lets Taurex keep that too.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Day 90With no trades or open positions, Taurex treats the account as inactive.31.1
After Taurex notifies youTaurex can charge USD 20 at the end of each calendar month.31.1
Balance USD 20 or lessTaurex can keep the balance, and it is non-refundable.31.1

Taurex's fee pages leave out the fees its policies charge

Taurex charges up to 3.5% to withdraw from an account that never traded and 0.5% when it sets a conversion rate, under its Payments Policy. Its English Fees page lists none of this, and its Pricing page promises no hidden fees. Overdue sums carry 5% interest a month, and clients from a partner can pay a wider spread.

Cost disclosure3 clauses flagged

If your account has never traded, withdrawing costs up to 3.5%. Where Taurex sets the exchange rate, conversion costs 0.5%, and Taurex can pass on payment providers' charges at its discretion. The English Fees page names none of this, though its Arabic and Malay versions warn that some methods carry charges.

Why this matters

You find these costs only in a separate PDF, after the Pricing page has promised no hidden fees. The Terms even say Taurex does no currency conversion itself, while the Payments Policy has it charging 0.5%.

Exhibit 10WarningStandard wording3.5%

Where the Client’s Account has had zero lifetime trading activity, withdrawal fees of up to 3.5% shall apply on withdrawals made by the Client.
Clause 3.2 in Payments Policy, p.6
Read from the broker's site on Open the reference

Buried at section 61 of 78 in the Payments Policy, 78% of the way through.

What it costsWithdraw $1,000 from an account that never traded and up to $35 stays with Taurex, at 3.5%.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must tell a retail client, before they trade, about all costs and charges, including payment and currency conversion charges. Taurex's Pricing page lists only spreads and commissions, and the withdrawal and conversion fees appear only in its Payments Policy.

Taurex is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Anything you owe Taurex and pay late carries interest of 5% a month above Taurex's own base rate. That can include a negative balance you have to repay. The contract never says what Taurex's base rate is.

Why this matters

Five percent a month is 60% a year before the base rate is added, and you cannot check that base rate anywhere. A sum you dispute can keep growing while you argue.

Exhibit 11WarningHarder than usual5%

In the event of late payment by you, overdue amounts shall bear interest at five percent (5%) per month over the base rate of Taurex (or such lesser amount as may be permitted by Applicable Law and Regulations).
Clause 10.2 in Terms and Conditions, p.10
Downloaded from the broker's site on Open the reference

What it costsUSD 1,000 overdue for one month adds USD 50 at 5%, and the same again each month after, before Taurex's base rate.

If a Taurex partner introduced you, Taurex can widen your spread, the gap between buy and sell prices, and pay the difference to the partner. It can also add commissions on your trades for the partner. Clause 33.6 of the Terms admits a mark-up but never says how large it can be.

Why this matters

Two clients on the same account type can pay different prices without knowing it. Taurex and the partner settle the size of the mark-up in a document written for partners, not for you.

Exhibit 12WarningStandard wording

When requested, Taurex may quote a wider Spread for certain Currency Pairs for Customers introduced by the Partner and Taurex will pay to the Partner the difference between the price at which the Transaction is made and the price at which the Transaction would have been executed if the Spread had not been widened.
Clause 5.1 in Partner Agreement, p.5
Read from the broker's site on Open the reference

Where it sits: section 24 of 177 in the Partner Agreement, near the start.

Taurex can change the rules, the margin and the safety net

Taurex can change its Terms and Conditions at once and email you up to 14 days later, under clause 2.3. Its negative balance protection applies only where Taurex designates, and clause 26.1(d) makes you pay negative equity caused by price gaps. After a default, Taurex can close your positions at a 100% margin level instead of the advertised 20%.

Account control2 clauses flagged

Taurex advertises a stop-out at 20%, meaning it closes your positions when your equity falls to a fifth of the margin they use. Once it declares an Event of Default, clause 15.2(viii) lets it close them below 100% instead. Clause 7.1 lets Taurex raise margin requirements at any time without notice.

Why this matters

Taurex can close positions you expect to survive a dip far earlier than the account page suggests. One of the defaults is anything Taurex considers necessary for its own protection, so the trigger is its call.

Exhibit 14WarningHarder than usual100%

increase the stop out level or change the required margin level of the Client’s Account and close Client’s open Positions or stop an account out if margin levels fall below 100%; or
Clause 15.2(viii) in Terms and Conditions, p.14
Downloaded from the broker's site on Open the reference
Set against a regulated standard: ESMA (EU), FCA (UK)

Under ESMA's CFD rules, matched by the FCA, retail leverage on major currency pairs is capped at 30 to 1, and positions must be closed once equity falls to half the margin they use. Taurex advertises leverage up to 1:2000 and a 20% stop-out, and keeps the right to change margin requirements without notice.

Taurex is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Taurex can change its Terms and Conditions with immediate effect and has up to 14 days afterwards to email you. Using your account after the change counts as accepting it. Taurex can also move you to another account type on three days' notice, and close your account if you do not agree.

Why this matters

A fee or a rule can change and bind you for two weeks before you hear of it. Your only exit is to leave, and clause 29.2 lets you close only once every trade is closed and nothing is owed.

Exhibit 15WarningHarder than usual14 days

Any such amendments may take effect immediately upon implementation by the Company. The Company shall notify the Client of any amendments to these Terms and Conditions within fourteen (14) days of such amendments taking effect, by email sent to the Client’s last notified email address.
Clause 2.3 in Terms and Conditions, p.2
Downloaded from the broker's site on Open the reference

Taurex gives you a day to object and judges its own errors

Taurex clients get 24 hours to object to a trade before silence counts as agreement under clause 20.2 of the Terms and Conditions. Taurex settles disputes over its own quoting and fee errors at its sole discretion. Its liability is capped at 30 days of fees, and its complaints procedure names no outside body.

Challenge rights3 clauses flagged

If Taurex causes you a loss, the most you can recover is the fees you paid it in the 30 days before you first claim. The contract does not say whether the spread counts, and the Standard Zero and Pro Zero accounts charge no commission.

Why this matters

An error by Taurex on a large position can cost you far more than a month of fees. Clause 22.14 keeps Taurex's duty to hold client money outside the cap.

Exhibit 16WarningHarder than usual30 days

The aggregate liability of the Company and its Affiliates shall not exceed the fees that Customer has paid under this Agreement during the thirty (30) days immediately preceding the date on which Customer first asserts the applicable claim.
Clause 22.5 in Terms and Conditions, p.19
Downloaded from the broker's site on Open the reference

If someone else gets your password and trades on your account, Taurex treats those trades as valid. Clause 21.2 makes you fully liable for every trade placed with your login, whether you authorised it or not.

Why this matters

A hacked login is your loss under this wording. Nothing in the contract obliges Taurex to reverse a trade you did not place.

Exhibit 17WarningHarder than usual

Any transaction performed using the password is considered by the Company to be right, even if the password was used illegally by third party.
Clause 19.4 in Terms and Conditions, pp.17-18
Downloaded from the broker's site on Open the reference

Taurex promises to acknowledge a complaint within two business days and to reply within 21 business days. A final answer can take up to 90 days. Neither edition of the complaints procedure names an ombudsman, regulator or other outside body you can turn to.

Why this matters

If Taurex rejects your complaint, the documents leave you only the courts. The edition linked from taurex.asia still gives an Eden Island postal address, so use the email both editions share: compliance.sc@tradetaurex.com.

Exhibit 18NoticeStandard wording90 days

In any event, a final response shall be issued within ninety (90) days from the date when the complaint was lodged.
Quoted in Complaints Handling Procedure, p.2
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK)

Firms licensed by the FCA must send a final response to a complaint within eight weeks and tell the client they can take it to the Financial Ombudsman Service, which is free and independent. Taurex's procedure allows up to 90 days and names no outside body.

Taurex is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

Taurex sells ECN execution but can be your counterparty

Taurex's Best Execution Policy says Taurex is always the counterparty to every trade, while its Pricing page describes an ECN execution model. Its Conflicts of Interest Policy adds that Taurex can profit when a client's trade loses. Clause 7.3 of its Terms says it owes you no duty of best execution.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Dealing model1 clause flagged

Taurex's Pricing page sells an ECN execution model, which suggests your orders meet other traders on a network. Its Conflicts of Interest Policy says Taurex may take the other side of your trade, so it can profit when you lose. Clause 7.3 also says Taurex has no duty to get you the best possible result.

Why this matters

On any trade Taurex keeps on its own book, your loss is its gain. Its Best Execution Policy promises the best possible result, so Taurex's own documents disagree about what you are owed.

Exhibit 13WarningStandard wording

This means that Taurex will internalize the risk by taking the other side of the client’s trades or, alternatively, some client trades may be hedged externally. Therefore, depending on the direction of exposure at the time of each trade and whether this exposure was hedged, Taurex could lose money when a client’s trade is profitable and accordingly Taurex could profit when a client’s trade loses.
Clause 4(a) in Conflicts of Interest Policy, p.4
Read from the broker's site on Open the reference
Our own capture of taurex.asia, taken on Oct 22, 2026The claim, on Pricing page, heading below the account comparison tableVisit this page on the broker's siteDownload the full size image file

Where it sits: section 19 of 58 in the Conflicts of Interest Policy, 33% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must take all sufficient steps to get the best possible result for a retail client's orders, and cannot contract out of that duty. Clause 7.3 of this contract says Taurex has no such obligation, while its own Best Execution Policy says it does.

Taurex is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 5The firm on the other side of your trade is also, under clause 22.8, the judge of disputes about its own prices.

Only the English contract and Seychelles law count

Taurex markets in five languages besides English, but clause 37.1 of its Terms and Conditions makes the English text prevail over every translation. Seychelles law governs the agreement, and clause 36.1 gives the Seychelles courts non-exclusive jurisdiction.

Governing law1 clause flagged

Seychelles law governs your agreement, and clause 37.1 makes the English text win wherever a translation differs. Taurex markets in Arabic, Chinese, Malay, Spanish and Thai, yet its footer says the site is not aimed at residents of Spain or Malaysia.

Why this matters

Only the English contract counts, whatever a translated page told you. EU visitors must confirm they are joining a Seychelles firm on their own initiative, which can weaken any later claim that Taurex marketed to them.

Exhibit 19NoticeStandard wording

This Agreement shall be governed by and construed in accordance with the laws of the Seychelles. The Client hereby submits to the non-exclusive jurisdiction of the courts of the Seychelles.
Clause 36.1 in Terms and Conditions, p.33
Downloaded from the broker's site on Open the reference

Your contract is with Taurex Global Limited in Seychelles

Taurex clients contract with Taurex Global Limited, company 8428731-1, licensed by the Seychelles Financial Services Authority as a securities dealer under SD092. The FCA-regulated Taurex Limited and the Dubai affiliate are not parties. Clause 5.2(c) says no compensation scheme covers your trading.

Counterparty1 clause flagged

Your contract is with Taurex Global Limited, licensed in Seychelles as a securities dealer under number SD092. The FCA-regulated Taurex Limited in London is not a party to it, and neither is the Dubai affiliate, which may not hold client money.

Why this matters

Protection that comes with the UK licence does not reach your account. The site footer says a Cyprus payment agent, XRT Capital Solutions Limited, receives client funds for Taurex Global Limited.

Exhibit 20Notice

Taurex is a company registered in the Seychelles under company number 8428731-1 with registered address at Suite 18, Third Floor, Vairam Building, Provide, Mahé, Seychelles.
Clause 1.1 in Terms and Conditions, p.2
Downloaded from the broker's site on Open the reference

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The Safety of Funds page promises segregation for your funds; the contract denies client money status to the money that backs your trades.

Said in public, in English

Taurex keeps your funds segregated from the company’s operational accounts, holding them in top-tier banks to ensure their safety and accessibility. This approach ensures protection of your assets, even in the unlikely event of financial distress.

English Safety of Funds page, section Segregation of Client Funds

In the contract · clause 16.2

Unless the Company determines that any transfers are disproportionate to the position(s) placed with it by the Client, Operational Amounts do not constitute Client Money for the purposes of the Applicable Law and Regulations.

02

The Arabic homepage promises capital protection up to $1 million; the contract says you get no compensation scheme at all.

Said in public, in Arabic

تداول أكثر من 1,500 أداة مالية بفروق أسعار تنافسية، وشروط مميزة، وحماية لرأس المال تصل حتى 1 مليون دولار.

Word for word in English: Trade more than 1,500 financial instruments with competitive spreads, distinctive conditions, and capital protection of up to 1 million dollars.

Arabic homepage, Why Choose Taurex section

In the contract · clause 5.2(c)

NO REGULATORY PROTECTION: the foreign exchange market is unregulated and although all Contracts are executed in accordance with Applicable Laws and Regulations, the Client will not benefit from any compensation scheme in respect of its foreign exchange trading through the Company.

03

The Spanish homepage opens with $1 million fund protection; the English contract offers no compensation scheme and says its English text wins.

Said in public, in Spanish

Opera más de 1,500 instrumentos con spreads ajustados, condiciones premium y protección de fondos de hasta 1 millón de dólares en una plataforma regulada en múltiples jurisdicciones.

Word for word in English: Trade more than 1,500 instruments with tight spreads, premium conditions and fund protection of up to 1 million dollars on a platform regulated in multiple jurisdictions.

Spanish homepage, opening text under the main headline

In the contract · clause 5.2(c)

NO REGULATORY PROTECTION: the foreign exchange market is unregulated and although all Contracts are executed in accordance with Applicable Laws and Regulations, the Client will not benefit from any compensation scheme in respect of its foreign exchange trading through the Company.

04

The homepage promises withdrawals in under 15 minutes; the contract lets Taurex refuse a withdrawal after any declared default, with no time limit.

Said in public, in English

Withdrawals processed in under 15 minutes—swift, secure, and reliable.

English homepage, Fast Withdrawals panel

In the contract · clause 15.2(ix)

take any actions deemed necessary, including but not limited to refusing to allow the Client to withdraw money from their Account(s).

05

The Pricing page promises no hidden fees; the Payments Policy charges up to 3.5% to withdraw from an account that never traded.

Said in public, in English

Trade with low pricing and no hidden fees

Pricing page, closing call to action

In the contract · clause 3.2

Where the Client’s Account has had zero lifetime trading activity, withdrawal fees of up to 3.5% shall apply on withdrawals made by the Client.

06

The Pricing page describes an ECN model; Taurex's own Best Execution Policy says it is always the counterparty to every trade.

Said in public, in English

Our ECN execution model ensures transparency

Pricing page, heading below the account comparison table

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of taurex.asia

In the contract · clause 2.3

The Company is always the counterparty (or Principal) to every trade; therefore, if the Client decides to open a position in a financial instrument with the Company, then the open position can only be closed with the Company.

07

The account table promises a 20% stop-out; after a declared default the contract lets Taurex close your positions below 100%.

Said in public, in English

100% / 20%

Account Types comparison table, Margin Call/Stop Out row, the same for all three accounts

In the contract · clause 15.2(viii)

increase the stop out level or change the required margin level of the Client’s Account and close Client’s open Positions or stop an account out if margin levels fall below 100%; or

What changed quietly

This is the first review of Taurex's legal documents, so no changes are listed.

  • REWRITTENClause · V2, 09 December 2025 to V2.1, 25 September 2026

    The newer edition moves the postal address for complaints to Providence, while taurex.asia still links the edition with the Eden Island address.

    Taurex Global Limited, Suite 3, Office 4, Third Floor, KB Emporium, Providence, Mahe, Seychelles.

The documents this reading is based on

20 files, all published by Taurex. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording Taurex publishes.

How this reading was done

Every clause above was read out of a document Taurex publishes itself

This reading was published on .

Documents
18 of 20downloaded from the broker's site, and 18 read in full
Pages opened
22pages walked to find those documents, footer links included
Marketing pages
11public pages set against what the contract says
Languages
AR vs EN vs ESthe language it advertises in, against the language it contracts in
Position measured
4clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

Taurex Global Limited

Taurex Global Limited is a Seychelles company, number 8428731-1, licensed by the Seychelles Financial Services Authority as a securities dealer under SD092. It is the only company named as your counterparty in the Terms and Conditions. Taurex Limited in London holds the FCA licence and is not a party, and Taurex's own footer says its Dubai affiliate, Taurex Financial Services L.L.C., may not hold client money. The footer also names XRT Capital Solutions Limited in Cyprus as the payment agent that receives client funds. The documents give three different Seychelles addresses: Suite 18, Vairam Building in the Terms and Conditions, F20 Eden Plaza in the September 2026 Risk Disclosure Policy, and Suite 3, KB Emporium in the September 2026 complaints procedure.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

Taurex publishes 11 separate legal documents, each dated and numbered, so a reader can see when a policy changed. Its Conflicts of Interest Policy says that Taurex can profit when a client's trade loses, which many brokers leave unsaid. The complaints procedure commits to an acknowledgment within two business days and a final answer within 90 days. Clause 30.2 limits a profit review to 48 hours before payment, and clause 22.14 keeps client money outside the liability cap. The Arabic and Malay Fees pages also warn that some payment methods carry charges, which the English page does not.

The Terms and Conditions PDF does not copy out as readable text, so every quotation from its 35 pages comes from the file as displayed. The September 2026 Conflicts of Interest Policy has the same problem and is quoted the same way. Taurex links the December 2025 editions of nine policies from taurex.asia and the September 2026 editions from tradetaurex.com. The two sets differ only in addresses, letterheads and version tables. No earlier version of the Terms and Conditions or the Payments Policy is available, so it is not possible to say what changed in them. The review does not cover the client portal, the signup form or the swap-free rate sheet, and no document explains the $1 million protection that the translated homepages advertise.

How to check any of this yourself

Every quote above links to the Taurex file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document Taurex publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge Taurex on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 22, 2026.

If you represent Taurex and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on Taurex. Whether its licence is real and current is a separate check on the broker profile.

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