Advertising DisclosureWe're committed to the highest standards of editorial integrity. Still, it's crucial to recognize that some products we mention come from our partners.

Here's an insight into how we make money. While we strive to be comprehensive, the compensation we receive can influence the products, companies, or services we showcase and review. Not all available options may be featured on this page.
tastyfx logo

tastyfx Review 2024

By:
Dan Blystone
Reviewed By:
Ola Alder
Updated: Nov 6, 2024
Overall Rating
4.4
  • Trust
    4.6
  • Fees
    4.5
  • Platforms and Tools
    4.6
  • Tradable Instruments
    3.6
  • Customer Support
    4.5
  • Research
    4.7
  • Deposit and Withdrawal
    4.0
  • Account Types and Terms
    4.2
  • Education
    3.1
  • How Did We Test and Rate This Broker?
    When trading forex and CFDs, understanding a broker's strengths and weaknesses is essential. We developed a proprietary rating system, which is the result of extensive research and hands-on evaluation by our expert reviewers. With a rigorous approach, our reviewers manually assess each broker, investing more than 50 hours per review, checking and testing the broker while analyzing over 250 variables to simplify the broker selection process for you. The categories we evaluate include trustworthiness, trading platforms, customer support, regulatory oversight, spreads, fees, the variety of instruments offered, education, and research tools. This unique rating system is specifically developed to ensure that the assessment is based on firsthand knowledge and experience. By dedicating a significant amount of time to each review, our team of experts can provide in-depth insights and help you make well-informed decisions when choosing the broker that best suits your trading goals.
    Chart

    IG US has recently rebranded and is now operating under the name tastyfx.

    If you are not a US citizen, please visit IG global review.

    Our Take on tastyfx

    In 2024, IG US, a part of IG Group, changed its name to tastyfx. IG Group was founded in 1974, making it a pioneer in the forex industry. IG US (now tastyfx) launched in 2019, providing access to spot forex trading with leverage and tight spreads.

    Clients of tastyfx can access an impressive range of 82 currency pairs via the tastyfx platform and mobile app, as well as MetaTrader 4, TradingView, and ProRealTime. tastyfx is regulated by the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC).

    As a Principal Model broker, tastyfx acts as the counterparty to client trades, and trading costs are reflected in the spread. In my view, tastyfx is a suitable choice for both beginners and experienced US traders who are focused on the forex market.

    In the forex market, traders can take long and short positions, making it possible to find opportunities in rising and falling markets.

    Recommended in 6 best broker guides: 
    US Brokers | Trading Platforms | Low Spreads | Beginners | MT4 | Professionals

    IG US Pros and Cons

    Pros Cons
    • High trust rating
    • Tight spreads
    • $0 commissions (costs are reflected in the spread)
    • Fast execution
    • Feature-rich platform
    • Industry-leading research
    • Cash rebates
    • Funding bonus up to $10,000 (funding and trading conditions apply)
    • Markets limited to spot forex
    • Lacks advanced educational materials
    • Bank wire withdrawal fee

     

    tastyfx Highlights for 2024

    • Strong Trust Rating: Owned by long-established financial giant IG and regulated by top-tier NFA and CFTC, tastyfx earned a high trust rating in my assessment.
    • Cutting-Edge Platform: After weeks of rigorous testing, I determined that the tastyfx platform is user-friendly and rich in innovative features.
    • Outstanding Tools: tastyfx offers a number of unique features built into its web-based platform, for example, client sentiment data and trading signals from Autochartist.
    • Low Trading Costs: My live tests showed that tastyfx provides some of the most competitive trading costs in the industry, with tight spreads in popular pairs like EUR/USD and GBP/USD.
    • Reliable Support: I experienced reliable customer support via live chat, phone and email in my tests.
    • Cash Rebates: High-volume traders can take advantage of monthly cash rebates of up to 15%.

    What Sets tastyfx Apart?

    tastyfx boasts a remarkable proprietary platform, highly competitive trading costs, and a substantial range of available currency pairs. The client sentiment data provided by tastyfx is especially valuable due to the sizable client base that it draws from.

    Who is tastyfx For?

    tastyfx is an excellent choice for US traders looking for access to the spot forex markets. Competitive trading costs and features like 1-click trading make tastyfx suitable for day traders and scalpers. The low swap fees can also attract swing traders and long-term investors.

    For this review, I performed my tests with a Standard Account, using the tastyfx web platform and mobile app. Some features and services may vary depending on where you reside.

    tastyfx (ex IG US) Video Review

    tastyfx Main Features

    ☑️ RegulationsCFTC (United States), NFA (United States)
    🗺 Supported Languages
    English
    💰 ProductsCurrencies
    💵 Min Deposit$250
    💹 Max Leverage
    1:50 (CFTC), 1:50 (NFA)
    🖥 Trading Desk TypePrincipal Model
    📊 Trading PlatformsMT4, ProRealTime, tastyfx Web Platform, tastyfx Mobile App, TradingView
    💳 Deposit Options
    Wire Transfer, Credit Card, ACH, Visa, Mastercard
    💳 Withdrawal Options
    Wire Transfer, Credit Card, ACH, Visa, Mastercard
    🤴 Demo AccountYes
    🗓 Foundation Year1974
    🌎 Headquarters CountryUnited States
    Risk DisclosureCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    tastyfx Full Review

    Trust

    4.6
    How Did We Test the Broker's Trustworthiness?
    Assessing a broker's trustworthiness with your funds is vital. To help you make the right decision, we carefully checked each broker's regulatory license and examined how well they protect traders. Moreover, we looked at the broker's stability by studying their business history, corporate structure, and industry experience. Finally, we thoroughly reviewed all of the broker's legal documentation, including terms, conditions, and fees, and evaluated their transparency based on our analysis. Our hands-on approach ensures that even novice traders have the knowledge they need to make smart decisions.
    trust chart

    tastyfx has earned a strong trust ranking from FXEmpire due to its regulation by the NFA and CFTC, financial stability, and transparency. Its parent company, IG Group, is publicly traded on the London Stock Exchange (LSE: IGG) and is a member of the FTSE 250.

    Entity tastyfx, LLC
    Country/Region US
    Regulation CFTC, NFA
    Segregated Funds No
    Negative Balance Protection No
    Account Insurance No
    Maximum Leverage 1:50
    • tastyfx, LLC (“tastyfx”) is a registered Retail Foreign Exchange Dealer (RFED) with the Commodity Futures Trading Commission and is a Member of the National Futures Association (NFA ID 509630). We rate CFTC and NFA as Tier-1 regulators.
    tastyfx on the National Futures Association (NFA) Register
    tastyfx on the National Futures Association (NFA) Register

    Why is it important to know where your broker subsidiary (entity) is regulated?

    Different regulators provide different levels of protection. tastyfx clients do not have negative balance protection, and their funds are not segregated. tastyfx, LLC holds client funds in the same bank account as operating funds because US regulations do not permit forex accounts to have segregated account status.

    In the unlikely event that tastyfx, LLC becomes insolvent or files for protection under bankruptcy laws, clients may have only an unsecured claim against their deposited funds. tastyfx, LLC would pay all debts to creditors before any unsecured claims in the event of liquidation.

    Stability and Transparency

    In our tests for the Trust category, we also cover factors relating to stability and financial strength. Here, we focus on how long the broker’s longevity, the company’s size, and its transparency.

    The parent company of tastyfx, IG, dates back to 1974, making it one of the oldest and most experienced forex brokers. According to its LinkedIn page, tastyfx is headquartered in Chicago, while IG is based in London and has 1,001-5,000 employees.

    In my research, tastyfx showed high transparency in its regulatory status, listing its regulators in the footer of each page of the ig.com/us website. The website breaks down costs, including spreads and margin rates on the Pricing page. Traders can find the Customer Agreement on the Terms and Agreements page.

    Is tastyfx Safe to Trade With?

    To summarize, my findings indicate that tastyfx has a high level of trust and stability due to the following qualities:

    • Regulated by top-tier NFA and CFTC
    • Parent company IG has 50 years of operating history
    • IG is a publicly traded company valued at over £3B
    • High level of transparency

    Fees

    4.5
    How Did We Test the Broker's Fees and Commissions?
    Broker commissions and fees can be challenging to understand. To simplify this for you, we carefully examined all the broker's fee-related documentation and presented it in a clear, easy-to-understand format. Furthermore, we conducted hands-on tests on spreads and commissions for the most common instruments during both London and New York trading sessions. We then compared these real-time test results to the market benchmark we've established through our extensive experience evaluating the industry.
    fees chart

    My hands-on tests showed that tastyfx offers highly competitive trading-related fees. Spreads in major pairs are among the tightest in the industry, and swap fees are better than average. High-volume clients can also earn substantial rebates, further lowering costs.

    Trading Fees

    I tested the spreads at tastyfx across various markets during the London open and after the New York open. At these times, the market is typically highly liquid with the tightest spreads.

    Instrument Spread AM Spread PM
    EUR/USD 0.8 Pip 0.8 Pip
    GBP/USD 1 Pip 1.6 Pip
    USD/CHF 1.5 Pips 2.4 Pips
    USD/JPY 1.1 Pip 1.1 Pip
    GBP/JPY 2.5 Pips 3.2 Pips
    USD/CAD 1.5 Pips 1.5 Pips
    AUD/USD 1 Pip 1.3 Pips
    NZD/USD 1.9 Pips 3.1 Pips

    tastyfx spreads are highly competitive in major pairs like EUR/USD, GBP/USD, and USD/JPY. In other pairs like GBP/JPY and NZD/USD spreads are closer to the industry average.

    Watch our ‘Best Low Spread Forex Brokers’ video guide where tastyfx is featured:

    Swap Fees

    In the table below, you can see the Swap Long (the cost/credit of holding a buy position overnight) and the Swap Short (the cost/credit of maintaining a sell position overnight) for one full-sized contract. A full-sized contract is 100,000 units of the base currency (the first currency quoted in the pair). I recorded the data on 5 July 2024.

    Instrument Swap Long Swap Short
    EUR/USD Charge of $3.00 Credit of $7.00
    GBP/JPY Credit of $3.20 Charge of $2.62

    My live tests showed that swap fees at tastyfx are better than average for the industry.

    Non-Trading Fees

    tastyfx does not charge any inactivity or account maintenance fees.

    Volume Based Cash Rebates

    At tastyfx, active traders get cash back on every lot traded if they trade $50 million or more in notional volume monthly.

    tastyfx rewards active clients with up to 15% cashback on their spread paid. Volume-based rebates are automatically credited to the accounts of qualifying traders in the following month.

    Tier 1: $50-$100M Tier 2: $100-$250M Tier 3: $250-$500M Tier 4: $500M+
    5% 8% 10% 15%
    $5 average savings per million (USD) $8 average savings per million (USD) $10 average savings per million (USD) $15 average savings per million (USD)

    Volume-Based Cash Rebate Examples

    Here are some examples of how the tiered monthly volume rebate works.

    Example 1: $50M in volume traded Example 2: $200M in volume traded Example 3: $350M in volume traded Example 4: $500M in volume traded
    5% 8% 10%  15%

    Are Fees at tastyfx Competitive?

    I rate the fees at tastyfx as highly competitive for the following reasons:

    • Very tight spreads in major pairs, as low as 0.8 in EUR/USD
    • The opportunity to earn rebates and further lower costs
    • Lower-than-average swap fees

    Platforms and Tools

    4.6
    How Did We Test the Broker's Trading Platforms?
    We understand that platforms play a crucial role in your trading experience. That's why we spent many hours testing the broker's web, desktop, and mobile trading platforms to gain a real understanding of their usability, functionality, and overall performance. From experimenting with different order types to testing execution speeds, charting, and other features, we thoroughly examined every aspect of these platforms based on our trading expertise, helping you make an informed choice.
    platforms chart

    tastyfx offers its proprietary platform on the web and mobile. I rated both versions as among the best in the industry, with unique features like sentiment data. Additionally, the broker incorporates MetaTrader 4, TradingView, and ProRealTime which offer advanced capabilities like automated trading.

    tastyfx Web Platform

    The tastyfx Platform is intuitive, highly customizable, and packs a meaty range of features. These include popular items like watchlists, a news feed, alerts, one-click trading, trading from the chart, and trading signals.

    tastyfx Web Platform
    tastyfx Web Platform

    The tastyfx Platform is web-based and accessible via your browser without any downloads required. The interface is clean and simple, making it easy for new traders to get up and running.

    Charting within the tastyfx Platform is robust, with 33 technical indicators, 19 drawing tools, 17 time frames, and 5 chart types.

    tastyfx platform charts
    tastyfx platform charts

    You can customize the platform to view multiple charts at once on one screen or mix charts with items like watchlists, news, and alert panels. The image above shows one ‘workspace’. You can create multiple workspaces and flip between them in a tabbed format. I found this feature super useful and created workspaces covering different groups of assets – one for major currency pairs, one for exotic currency pairs, etc.

    tastyfx platform tiled charts
    tastyfx platform tiled charts

    Watchlists enable traders to keep an eye on predefined lists like popular markets or recently traded instruments. You can also set up your own custom watchlists.

    tastyfx platform watchlists
    tastyfx platform watchlists

    The tastyfx platform offers a strong range of order types, including market orders, limit orders, stop loss orders, and trailing stop orders. You can specify the duration for which your order remains active by marking it as ‘Good Till Canceled’ or setting it to expire on a future date of your choice.

    tastyfx order entry
    tastyfx order entry

    The platform has a sophisticated range of alerts to help optimize your trading performance. You can set up alerts to inform you about price movements, news events, and even emerging technical patterns.

    • Price level alerts are triggered when your market hits the price you set.
    • Price change alerts trigger when a market moves your chosen amount. These can be set in pips or in percentage terms.
    • Technical indicator alerts tell you when a market meets your technical conditions. For example, you can receive an alert when RSI crosses the 70 level into overbought conditions.
    • Economic calendar alerts remind you of key economic releases.
    tastyfx alerts
    tastyfx alerts

    tastyfx provides client sentiment data drawing from the IG user base of over 300,000 clients. Sentiment data shows the percentage of traders that are long or short in a currency pair. This gives you powerful insight into the psychology of a market. Traders can interpret the data in a variety of ways. Most commonly, it is understood that when an extreme percentage of traders are either long or short an instrument, a trend reversal may be coming.

    tastyfx client sentiment
    tastyfx client sentiment

    The platform has a built-in news feed from Thomson Reuters. A steady stream of stories is published throughout the day. The feed includes updates on major economic releases and central bank policy. It also has coverage of technical analysis, key support and resistance levels, and trade ideas. For example, the EUR/GBP Trader bulletin shows a current position, stop loss, profit target, and the technical rationale for the trade.

    tastyfx platform news
    tastyfx platform news

    The technical context for the EUR/GBP trade shared in the Thomson Reuters news feed is also provided in chart format.

    EUR/GBP trader chart
    EUR/GBP trader chart

    The tastyfx Platform has a dark mode feature, making it easier on your eyes at night.

    tastyfx platform dark mode
    tastyfx platform dark mode

    tastyfx Web Platform: My Key Takeaways

    In my experience trading on the tastyfx Platform, I appreciated the ability to customize it to your preference and create multiple workspaces. This makes it easy to stay on top of what is going on in multiple markets and lots of timeframes.

    Charting is robust, and the range of order types provides traders with advanced flexibility. Finally, the suite of tools – including Autochartist, client sentiment, and the news feed from Thomson Reuters – is outstanding. With its clean and uncluttered interface, this platform can cater to beginners. It also has advanced features to accommodate experienced and professional traders.

    tastyfx Mobile App

    The tastyfx mobile app is available for Android and iOS. It incorporates the key features of the web platform, like watchlists, advanced order types, alerts, trading from the chart, client sentiment, Autochartist signals, and the Thomson Reuters news feed.

    Charting within the tastyfx mobile app has the same robust features as the web platform: 33 technical indicators, 19 drawing tools, 17 time frames, and 5 chart types.

    As with the web platform, you can easily flip between demo and live trading accounts. Two-factor authentication is available for an added layer of security. It is also possible to add and withdraw funds via the mobile app.

    tastyfx Mobile App
    tastyfx Mobile App

    tastyfx Mobile App: My Key Takeaways

    I found the tastyfx Mobile App intuitive and beginner-friendly while offering a powerful range of features. You can monitor your market positions, place trades, and stay updated with the latest market news and analysis. This well-designed app can accommodate most trading functions while you are on the move. I rate it as well above average for the industry.

    MetaTrader 4 Desktop

    tastyfx offers MetaTrader 4 for desktops, which includes advanced functions such as copy trading and automated trading.

    MetaTrader 4 is available in 39 languages, from Arabic to Vietnamese. The platform provides popular features such as

    • Alerts. This feature updates traders when an instrument reaches a specific price level.
    • Watchlists. Traders can create a list of their favorite instruments and follow live quotes in a market watch panel.
    • One-Click Trading. This feature allows traders to execute orders with a single click and no secondary confirmation. This feature enables traders to operate faster and is especially useful for short-term traders.
    • Trading from the Chart. MT4 also allows users the convenience of trading directly from the chart.
    MetaTrader 4 Desktop Platform
    MetaTrader 4 Desktop Platform

    MetaTrader also delivers when it comes to the range of available order types. The platform offers the following order types:

    • Market Order. Traders use market orders to buy or sell an instrument at the best current price.
    • Limit Order. Traders use limit orders to buy or sell an instrument at a specified price or better.
    • Stop Loss Order. Traders use stop-loss orders to buy or sell an instrument when its price reaches a specified level.
    • Trailing Stop Order. Traders use trailing stop-loss orders as a stop-loss order at a defined percentage or dollar amount away from an instrument’s current market price. This order type allows traders to secure profits when they are in a winning trade while not having to exit the position.
    Order entry on the MetaTrader 4 platform
    Order entry on the MetaTrader 4 platform

    Charting features are robust. MetaTrader 4 offers:

    • 30 Technical Indicators. These include classic trend indicators, volume indicators, and oscillators.
    • 23 Analytical Objects. These include lines, channels, Gann, and Fibonacci tools.
    • 9 Time Frames. Traders can choose from nine time frames, from one minute to one month.
    • 3 Chart Types. Traders can use Bar Charts, Japanese Candlestick Charts, and Line Charts.
    Charting on the MetaTrader 4 Platform
    Charting on the MetaTrader 4 Platform

    MetaTrader is also popular due to its copy trading and automated trading features.

    • Trading Signals. Signals in MetaTrader 4 allow users to copy other traders’ activity in real time.
    • Automated Trading. MetaTrader 4 allows users to develop, test, and apply Expert Advisors (EAs). EAs are programs that monitor and trade markets using algorithms.

    MetaTrader 4 Mobile App

    tastyfx offers the MetaTrader 4 mobile app for mobile trading, which is available for Android and iOS. The app offers popular features such as alerts, 1-click trading, and trading from the chart.

    The MT4 mobile app also provides many order types, including pending and stop orders. However, trailing stop-loss orders are only available from the desktop.

    To change the language of the MT4 app, you must change the language for your entire phone. As with the desktop and web platforms, the interface is not highly intuitive, but the MT4 app offers an above-average range of features.

    MetaTrader 4 Mobile App
    MetaTrader 4 Mobile App

    MetaTrader 4: My Key Takeaways

    The look and feel of MetaTrader 4 are a bit dated – I felt there is room for improvement in design and usability. But as one of the most popular trading platforms in the world and the only one offered by many forex brokers, I have spent a lot of time testing it.

    MT4 is actually very well-rounded and can do more than most competitors – with advanced charting, a complete range of order types, and popular features like 1-click trading, trading from the chart, and alerts. The advanced features of the desktop platform set it apart in that it enables traders to run and backtest automated strategies.

    Although it presents a steep learning curve, MT4 can cater to beginners. Meanwhile, its algorithmic trading capability can also accommodate professional traders.

    TradingView

    Clients with live accounts can access the cutting-edge TradingView platform, which provides one-click trading, trading from the chart, watchlists, market news, and trading ideas. In my experience, the platform makes it a breeze to place trades and manage open positions and pending orders.

    The market-leading TradingView charts feature 11 time frames, 11 chart types, and over 100 technical indicators. Various drawing tools, from trend lines to Fibonacci retracements, are also available.

    TradingView at tastyfx
    TradingView at tastyfx

    The range of available order types is above average. Market orders, limit orders, stop-loss orders, and trailing stop-loss orders are available. Traders also have the option to apply time-in-force conditions such as Good-Til-Canceled (GTC).

    The TradingView platform has the rare combination of being powerful in its functionality and intuitive with a well-designed interface. The large, active community on TradingView is helpful for users seeking inspiration, especially through features like the ideas stream.

    ProRealTime

    Live account holders at tastyfx also have access to ProRealTime. This is a third-party platform geared towards experienced traders, with various advanced features:

    • Robust charts with 100+ technical indicators, tools, and price comparisons.
    • Scalping order book with an interface designed for speed.
    • Advanced order types including triple orders, OCO orders, and trailing stops.
    • Automated trading, backtesting, and optimization.

    tastyfx Order Execution Model

    tastyfx acts as principal and is the sole venue for the execution of spot forex contracts. In the Principal Model, forex brokers are counterparties to client transactions – they take the other side of their trades.

    Tradable Instruments

    3.6
    How Did We Test the Broker's Tradable Instruments?
    For this section, we examined the broker's market offering, assessing the variety and depth of instruments and asset classes available for trading. Through our proprietary database, we then compared the results with other brokers. This comprehensive analysis allows you to determine if the broker offers the specific instruments and trading options you're looking for.
    tradable_instruments chart

    tastyfx offers a strong range of spot forex instruments, including major, minor, Australasian, Scandinavian, exotic, and emerging market currency pairs. However, there are no alternatives to forex.

    At the time of this writing, clients can access 82 currency pairs:

    • 10 Major Currency Pairs
    • 16 Minor Currency Pairs
    • 13 Australasian Currency Pairs
    • 14 Scandinavian Currency Pairs
    • 22 Exotic Currency Pairs
    • 7 Emerging Markets Currency Pairs

    In the tables below, you can see a selection highlighting the variety of currency pairs available to US traders:

    Forex Major Forex Minor Forex Exotic
    EUR/USD | GBP/USD | USD/JPY CAD/CHF | GBP/CAD | SGD/JPY GBP/PLN | USD/CZK | EUR/TRY
    Forex Australasian Forex Scandinavian Forex Emerging Markets
    AUD/CHF | NZD/USD | AUD/NZD SEK/JPY | GBP/NOK | EUR/DKK USD/CNH | AUD/CNH | CNH/JPY

    tastyfx Instruments: My Key Takeaways

    tastyfx offers an excellent range of currency pairs catering to different trader profiles. For example, some pairs, such as GBP/JPY, are highly volatile, making them attractive to day traders. Other pairs like USD/CHF are suitable for traders who prefer slower-moving markets.

    Emerging market pairs currently offer high interest rates, allowing traders to engage in the carry trade and capture the interest rate differential between the base and counter currency. I also noted that traders using correlation strategies can work with highly correlated pairs like NZD/JPY and AUD/JPY.

    While the forex offering at tastyfx is excellent, it could improve by adding spot commodities and cryptocurrencies.

    Customer Support

    4.5
    How Did We Test the Broker's Customer Support?
    Traders often underestimate the importance of customer support, yet it proves to be a critical aspect during times of crisis. We put the broker's customer support to the test ourselves using all possible channels, such as chat, phone, and others. Our evaluation focused on the accessibility of live agents, as well as the helpfulness and professionalism of their responses. This way, we provide you with comprehensive insights into whether a broker can deliver full support when you need it most.
    customer_support chart

    tastyfx offers support 24 hours a day, from 3 a.m. Saturday to 5 p.m. Friday (EST). Support is available via live chat, email, and phone. I was impressed by the swift responses and high quality of assistance.

    Live Chat Phone Email
    24/7 from the website 312 981-0498 helpdesk.us@tastyfx.com

    tastyfx Customer Support Test

    I evaluated tastyfx support with multiple inquiries ranging from basic account-related questions to more complex issues. Emails were typically responded to the same day or within 24 hours, and I could reach a helpful operator by live chat or phone within a couple of minutes.

    tastyfx live chat
    tastyfx live chat

    Deposits & Withdrawals

    4
    How Did We Test the Broker's Deposit and Withdrawal Process?
    The deposit or withdrawal process can be tricky since you may encounter hidden fees or longer than expected processing time. To assess the broker's offerings, we examined their deposit and withdrawal options and conditions. Using our proprietary database, we then compared these results with those of other brokers.
    deposit chart

    tastyfx clients can deposit and withdraw funds via bank wire transfer, automated clearing house (ACH), and debit card (Visa and Mastercard). Processing times are relatively fast for the industry. Deposits are free, but there is a $15 fee for withdrawals via bank transfer.

    In the tables below, I break down the fees and processing times for each deposit and withdrawal method.

    Deposits

    Deposit Method Fees Processing Time
    Debit Card $0 Instant
    ACH Bank Transfer $0 3 Business Days
    Wire Transfer $0 1 Business Day

    While brokers do not normally charge any fees for deposits, tastyfx beats the industry average with a relatively fast processing time.

    Withdrawals

    Withdrawal Method Fees Processing Time
    Debit Card $0 2-5 Working Days
    ACH Bank Transfer $0 2-5 Working Days
    Wire Transfer $15 24 Hours

    Here again, processing times are better than average for the forex industry. Some brokers do not charge a wire transfer withdrawal fee, but the $15 charge from tastyfx is fairly standard.

    Note: Generally, all funds will need to be returned to the source of your payments.

    Account Types and Terms

    4.2
    How Did We Test the Broker's Account Types and Terms?
    When it comes to achieving your trading goals, choosing the proper account is essential. We initiated our evaluation by personally opening an account with the broker, which allowed us to gain firsthand experience of the process and accurately asses, how fast and easy it is. In addition, we carried out an in-depth analysis of the account types and features offered by the broker, including spreads, maximum leverage, minimum deposits, and more. For a comprehensive comparison, we turned to our proprietary database and examined how this broker's account offerings and processes stacked up against other brokers.
    account chart

    tastyfx has one account type, and clients with high trading volume can receive cash rebates. The account opening process is fully digital and can be completed via the tastyfx.com website. I found the application straightforward, and it took me less than 10 minutes to go through all the questions. Traders can also access free demo accounts via the tastyfx Platform.

    Account Application

    Account opening at tastyfx
    Account opening at tastyfx

    To open an individual account at tastyfx, prospective clients must provide the following information:

    • Personal Details: Country of residence, name, email address, date of birth, phone number, citizenship, social security number, home address.
    • Income and Savings: Employment status, job, source of trading funds, gross annual income, net worth.
    • Trading Experience: Trading activity in the last 3 years, products traded, experience, or qualifications related to trading.

    Demo Accounts

    tastyfx offers demo accounts for the tastyfx web platform and mobile app. Demo accounts are especially important for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking real money.

    The demo account features live quotes and simulates live market conditions in all 82 currency pairs. Once users are to speed up on a demo account, they can easily switch to a live version.

    Margin and Leverage

    One of the reasons that traders are attracted to the forex market is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account. In the table below, I cover the leverage available at tastyfx across a range of currency pairs.

    Currency Pair Margin Per Contract Leverage
    EUR/USD 2% 1:50
    GBP/USD 5% 1:20
    AUD/USD 3% 1:33
    EUR/JPY 5% 1:20
    USD/CHF 3% 1:33

    Watch our video guide, “Best High-Leverage Forex Brokers,” where tastyfx is featured:

     

    Supported States

    tastyfx accepts clients from all states with the exception of Ohio.

    Account Bonus

    tastyfx is offering an account bonus for new clients from June 24 through September 30, 2024. Terms and conditions apply.

    Bonus Tier Required Deposit Amount Required Trades Total Bonus
    1 $1,000 10 $50
    2 $5,000 50 $500
    3 $10,000 100 $1,000
    4 $25,000 250 $2,500
    5 $50,000 500 $5,000
    6 $100,000 1,000 $10,000

    Research

    4.7
    How Did We Test the Broker's Research Tools?
    Research options offered by brokers may not be seen as the most important feature for some traders, but they can provide a competitive advantage. To assess the broker's research offerings, we personally explored and tested both proprietary and third-party tools and content, such as Fundamental and Technical Analysis, Market News, educational videos, and webinars. After evaluating the availability and quality of the overall research offering, we compared the results with our benchmark to provide a comprehensive analysis of the broker's research capabilities.
    research chart

    tastyfx shines in the research category with a wealth of in-house and third-party resources. The News and Trade Ideas section of the website contains regularly updated technical and fundamental research materials. Articles and videos are insightful and reflect a depth of experience.

    tastyfx News section
    tastyfx News section

    The tastyfx website news section contains insightful coverage of major economic releases like Nonfarm Payrolls and Central Bank interest rate decisions.

    Market news
    Market news

    In-depth analysis of specific currencies like the Yen and the Australian dollar helps to orient traders focused on these markets. Analysis of major economic events is also available in video format on the tastyfx YouTube channel.

    tastyfx Research: My Key Takeaways

    As a new broker, the offering on the tastyfx website is relatively slim in terms of volume. However, combined with the first-class news feed from Thomson Reuters and trading signals from Autochartist tastyfx beats the industry average in this category.

    Education

    3.1
    How Did We Test the Broker's Education Offering?
    Gaining knowledge about trading in the financial markets can make the difference between success and failure. To assess the broker's educational offerings, we personally tested and evaluated the quality of the content provided, considering its relevance for both novice and experienced traders. We explored the range of materials available, such as articles, videos, webinars, and courses. After evaluating the content's volume, update frequency, and overall quality, we compared the results with our benchmark to provide a well-rounded analysis of the broker's education offerings.
    education chart

    The education section of the tastyfx website includes articles covering the basics of forex trading. The material provides a good introduction for beginners but is fairly limited in scope.

    tastyfx Guides
    tastyfx Guides

    The articles provide a well-crafted introduction including topics like the advantages of the forex market and risk management.

    Educational articles
    Educational articles

    tastyfx also provides in-depth guides on topics like how to read charts.

    tastyfx YouTube channel
    tastyfx YouTube channel

    On the tastyfx YouTube channel, traders can find a series of short videos covering basics like order types and the costs involved in forex trading. While the quality of the existing educational materials is excellent, tastyfx could improve by adding courses, webinars, and advanced material for experienced traders.

    The Bottom Line

    tastyfx can be considered trustworthy due to its status as an NFA and CFTC-regulated broker, its high level of financial stability, and first-class transparency.

    Low trading costs and modest account-related fees make this an attractive broker. tastyfx provides a broad range of currency pairs and brings the advanced tools of an industry leader to the US retail market. Traders have the flexibility to choose between the intuitive tastyfx platform and the feature-rich MetaTrader 4, TradingView, and and ProRealTime.

    Easy-to-digest educational materials and a user-friendly web platform make tastyfx a suitable choice for beginners. Meanwhile, it can also accommodate experienced clients with an impressive range of analytical resources and monthly cash rebates when volume thresholds are met.

    tastyfx could improve by adding a wider range of markets to trade beyond forex, developing the education section with more advanced material, and cutting the withdrawal fee via bank wire.

    If you are a US trader looking to try out the spot forex market, I rate tastyfx as a strong choice.

    FAQ

    tastyfx LLC is based at 1330 West Fulton, Chicago, IL 60607.
    Parent company IG is publicly traded with a long operating history. tastyfx is regulated in the United States by two Tier-1 authorities. Overall, I judge tastyfx as a relatively safe broker.
    You can deposit funds via debit card, ACH bank transfer, or wire transfer.
    The minimum deposit is $250.
    You can withdraw funds via debit card, ACH bank transfer, or wire transfer.
    Bank wire withdrawals are processed within 24 hours, while withdrawals via debit card and ACH could take 2–5 days.
    tastyfx charges $15 for withdrawals via bank wire.
    The maximum leverage available is 1:50.
    tastyfx offers the tastyfx Web Platform and mobile app, MetaTrader 4, TradingView, and ProRealTime.
    With solid research materials and an intuitive platform, I rate tastyfx as a good choice for beginners.
    Yes, a free demo is available via the tastyfx Platform.
    Yes, tastyfx offers 1-click trading, fast order execution, and competitive spreads which are essential for scalpers.
    Yes, tastyfx offers the MetaTrader 4 platform, which enables automated trading.
    No, direct hedging in forex trading is illegal in the US.
    Yes, MT4 VPS hosting provides a low-latency trading experience with reliable uptime.
    tastyfx operates under the Principle Model of brokerage and, like a market maker, is the counterparty to client transactions.
    No, tastyfx is a broker only.
    Yes, tastyfx provides the MetaTrader 4 platform.

    See tastyfx Full Information

    Headquarters Country
    United States
    Foundation Year
    1974
    Regulations
    CFTC (United States), NFA (United States)
    Publicly Traded
    Yes
    Number Of Employees
    1001
    Trading Desk Type
    Principal Model
    Trading Platforms
    MT4, ProRealTime, tastyfx Web Platform, tastyfx Mobile App, TradingView
    Restricted Countries
    Wallis and Futuna, Niue, Cocos Islands, Anguilla, Singapore, Gambia, Ukraine, French Polynesia, Uganda, Uruguay, Azerbaijan, Andorra, New Caledonia, Paraguay, Vatican City, Tonga, Malawi, Namibia, Nauru, Finland, Ecuador, Burundi, Bosnia and Herzegovina, Benin, Bulgaria, Canada, Colombia, Congo, Costa Rica, Cote dIvoire, Croatia, Cuba, Equatorial Guinea, North Korea, Lesotho, Guyana, Liberia, Mauritania, India, New Zealand, Nicaragua, Indonesia, Niger, Hungary, Nigeria, Iceland, Qatar, Iran, Iraq, Afghanistan, Marshall Islands, Tunisia, Kosovo, Somalia, Sweden, Slovenia, Belgium, Russian Federation, Turkmenistan, Yemen, Syria, Sierra Leone, Comoros, El Salvador, Serbia, Vietnam, Guernsey, Kiribati, Libya, Mozambique, Myanmar, Netherlands, Philippines, Portugal, Haiti, Spain, Sudan, Zimbabwe, Australia, United Kingdom, Honduras, Egypt, Samoa, San Marino, Algeria, Armenia, Austria, Bahamas, Barbados, Bahrain, Belarus, Belize, Bhutan, Bolivia, Burkina Faso, Chad, Cameroon, Cape Verde, China, Cyprus, Czech Republic, Djibouti, Dominica, Eritrea, France, Gabon, Georgia, Germany, Ghana, Italy, Jamaica, Jordan, Kazakhstan, Kenya, Estonia, South Korea, Kuwait, Kyrgyzstan, Latvia, Laos, Guinea-Bissau, Montenegro, Malaysia, Sao Tome and Principe, Liechtenstein, Lithuania, Moldova, Palau, Luxembourg, Macedonia, Maldives, Mali, Mexico, Micronesia, Monaco, Nepal, Morocco, Norway, Oman, Papua New Guinea, Poland, Peru, Romania, Greece, Gibraltar, Grenada, Guatemala, Guinea, Rwanda, Democratic Republic of the Congo, Curacao, Guam, Cayman Islands, Swaziland, Bermuda, Suriname, Senegal, Zambia, Angola, Turkey, Albania, Timor-Leste, Slovakia, Cook Islands, Antigua and Barbuda, Trinidad and Tobago, Northern Mariana Islands, Puerto Rico, Togo, Argentina, Mongolia, Bangladesh, Macao, Solomon Islands, Venezuela, Switzerland, Greenland, Tuvalu, Botswana, Brazil, Seychelles, Bonaire, Uzbekistan, Brunei, Cambodia, Central African Republic, Chile, Denmark, Dominican Republic, Saudi Arabia, Lebanon, Mayotte, Madagascar, Aruba, Ethiopia, Taiwan, Fiji, Vanuatu, Panama, Israel, Tajikistan, Mauritius, Japan, South Africa, Virgin Islands, British, Tanzania, Isle of Man, Malta, Pakistan, Hong Kong, Ireland, South Sudan, Sri Lanka, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Thailand, United Arab Emirates, Faroe Islands, American Samoa, Svalbard and Jan Mayen, Aland Islands, Christmas Island, Montserrat, Saint Barthelemy, Saint Helena, Saint Martin, Saint Pierre
    Supported Languages
    English
    Min Deposit
    $250
    Max Leverage
    1:50 (CFTC), 1:50 (NFA)
    Deposit Options
    Wire Transfer, Credit Card, ACH, Visa, Mastercard
    Withdrawal Options
    Wire Transfer, Credit Card, ACH, Visa, Mastercard
    Time to Withdrawal
    2
    Time to Open an Account
    8
    Products
    Currencies
    Demo Account
    Yes
    OCO Orders
    Yes
    Offers Hedging
    No
    Automated Trading
    Yes
    API Trading
    No
    Guaranteed Stop Loss
    No
    Guaranteed Limit Orders
    No
    Guaranteed Fills / Liquidity
    Yes
    Economic calendar
    Yes
    Trading From Chart
    Yes
    One-Click Trading
    Yes
    Expert Advisor
    Yes
    Social Trading
    Yes
    Autochartist
    No
    Trading Signals
    Yes
    Platform Languages
    English
    24 Hours Support
    Yes
    Support During Weekends
    No
    Live Chat
    Yes
    Daily Market Commentary
    Yes
    News (Top-Tier Sources)
    Yes
    Webinars
    No
    Deposit Fee
    No
    Withdrawal Fee
    No
    Inactivity Fee
    No

    About the Author

    Dan BlystoneBroker Analyst

    Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.

    Why you can trust FX Empire

    At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.

    Why you can trust FX Empire

    FXEmpire was founded in 2011, making us one of the first forex broker review sites. You can trust FXEmpire because of our thorough and unbiased review process. With over a decade of experience, we have a team of industry experts who conduct rigorous tests to ensure our reviews are accurate and unbiased. Our reviews are designed to bring clarity and confidence to the process of choosing a broker, and are based on objective criteria and measurable data. Our editorial team is composed of trading industry professionals and seasoned financial journalists, who ensure that our reviews are accurate and unbiased. Additionally, our review system is based on 9 core categories and over 250 distinct variables, which ensures that all aspects of a broker are considered before giving a final rating. So, you can trust FXEmpire to provide you with honest and informative reviews that will help you make an informed decision on which broker will best enable you to reach your financial goals.