Worked example
Practising on Taurex's numbers
This is an exercise sheet, not a review. We are going to take three things that Taurex publishes — a spread, a ladder of account types and a list of licences — and turn each of them into something you can do arithmetic with. By the end you should be able to repeat the whole exercise on any firm you come across, which is the actual skill being taught.
The figures we are working from
Nothing below is our estimate. Where a firm has not published something, or we could not read it on a source we trust, the box says so instead of guessing — a habit worth copying when you build your own broker notes.
Exercise one — turn the spread into money
Taurex does not publish a EUR/USD spread we were able to verify, so there is no honest arithmetic to do on this page. Do not substitute a number you read on a comparison site: an unverified spread quietly becomes an unverified cost, and then an unverified plan. Use one of the other examples on the practice index for this exercise and come back to this file for the account ladder below.
Exercise two — read the account ladder
Account tiers are a pricing structure dressed as a status ladder. Taurex offers 0 rungs. Read them as a question — what does each rung ask of me, and what does it give back? — rather than as a set of prizes to climb towards.
Exercise three — what this licence list means for you
A long licence list is not automatically a good sign. What matters to a beginner is a narrower question: which entity would hold my money, and who supervises that entity? Those are often not the same as the impressive name at the top of the list. Here are Taurex's lines, each with a plain reading.
| Regulator | Entity on the register | Number | What that means for a beginner |
|---|---|---|---|
| FCA · United Kingdom | Taurex Limited | 816055 | a top-tier regulator: compensation scheme, capital rules and a public register you can search yourself |
| FSA Seychelles · Seychelles | Taurex Global Limited | SD092 | an offshore registration: a company exists and pays a fee, but expect little practical recourse from that entity |
| Capital Market Authority (CMA) UAE, formerly SCA · United Arab Emirates | Taurex (UAE entity) | 20200000224 (Category 5: arrangement and advice) | a mid-tier regulator: real supervision and a register, usually with a smaller or capped compensation scheme |
| Bank of Sierra Leone · Sierra Leone | Stochastic Africa (SL) Limited, trading as Zenfinex Africa | BSL/SAL/2023 | an offshore registration: a company exists and pays a fee, but expect little practical recourse from that entity |
| None (SVG FSA company registration only) · Saint Vincent and the Grenadines | Zenfinex Global LLC | 138 LLC 2019 | an offshore registration: a company exists and pays a fee, but expect little practical recourse from that entity |
1 of these line is top-tier — held by Taurex Limited. If you are onboarded to a different entity than those, the protections attached to the top-tier line are not yours, however prominently the regulator's initials appear in the marketing. 3 lines are offshore registrations; treat those as a company address rather than as supervision.
The record behind these numbers
- Taurex Limited (England and Wales company 11077380) is authorised and regulated by the Financial Conduct Authority under firm reference number 816055, with a registered office at 4 Eastcheap, London.
- Taurex Global Limited is registered in Seychelles under number 8428731-1 and holds Seychelles FSA securities dealer licence SD092.
- The Taurex brand grew out of Zenfinex; the group still lists Zenfinex Global LLC, registered in Saint Vincent and the Grenadines under number 138 LLC 2019.
- The Saint Vincent and the Grenadines FSA does not regulate forex or CFD trading, so the SVG registration is a company registration rather than a trading licence.
- The group's UAE entity holds Capital Market Authority Category 5 licence 20200000224 and is not authorised to hold client money or client assets.
What we could not verify
The following are unconfirmed and are deliberately left blank rather than estimated: founding year; minimum deposit; maximum leverage; EUR/USD spread; account types; segregated funds; negative balance protection. Confidence in this file overall: high. When you build your own notes on a firm, keep a list like this one — the gaps are more useful than the figures, because they tell you what to go and check.
Run the same exercise on another firm
PipMentor does not rank brokers, does not award badges and does not tell you where to open an account. This page exists so the arithmetic you learn in the curriculum has real numbers to bite on.