ForexTB

ForexTB Review: Is ForexTB Broker Good?

Broker overview and general information

 ForexTB, a broker that provides Forex trading services to traders all over the world, is operated by Forex TB Limited, a Cyprus investment company founded in 2015 and offers a unique trading experience through its platform. The founding staff speaks about the purpose of establishing this broker, “We have built ForexTB on two principles: traders’ needs and a commitment to excellence. We want to provide the best possible trading experience.” This is the vision that provides traders with trust. 

Broker Licensing and Regulation

If you ask whether ForexTB broker is good or not, you must first consider the license factor, which has the following licenses:

• Cyprus Securities and Exchange Commission (CySEC) License No. 272/15 under Forex TB Ltd.

⚠️Warning:Although the broker is regulated by CySEC, its jurisdiction covers only the European zone, therefore, the investor protections provided by CySEC mainly apply to investors residing in the European zone or transacting under European regulations.

For investors outside of Europe, protection is limited and depends on country-specific regulations. If investors want protection, they should ensure that the broker is licensed and regulated by their local regulatory authority.

Broker Products and Services

Trading products

The broker offers trading in Contracts for Difference (CFDs) across a wide range of asset classes, with the following trading products:

• Forex (Forex):Trading different currency pairs on the international foreign exchange market

• Stocks:Trading shares of leading companies from stock exchanges around the world.

• Indices:Trading major stock market indices such as S&P 500, NASDAQ, FTSE 100.

• Commodities:Trading in various commodities such as gold, oil, silver

• Cryptocurrencies:Trading popular cryptocurrencies such as Bitcoin, Ethereum, Ripple

Trading Platform

• Meta Trader 4: Trade on a global platform with easy-to-use analytical tools, stable app performance, a variety of charts and timelines to meet the needs of traders on smartphones, computers and tablets.

• ForexTB Web Trader: Broker's trading platform that offers convenient trading via the broker's website, with modern indicators, easy-to-use and complete interface.

ForexTB Review: Account Types

The broker's trading account has 4 types in total: Basic, Gold, Platinum, VIP. All have different details and features as follows:

BASIC Account 

• Minimum deposit: €250

• Leverage: Retail clients 1:30 / Professional clients 1:400

• Spread: Floating starting from 3.0 PIPS

• Commission : None

• Withdrawal Fee: Free 1 time

Gold Account

• Minimum deposit: €25,000

• Leverage: Retail clients 1:30 / Professional clients 1:400

• Spread: Floating starting from 2.7 PIPS

• Commission : None

• Withdrawal Fee: Free for 1 month

Platinum Account

• Minimum deposit: €100,000

• Leverage: Retail clients 1:30 / Professional clients 1:400

• Spread: Floating starting from 2.1 PIPS

• Commission : None

• Withdrawal Fee: Free for 3 months 

VIP Account

• Minimum deposit: €250,000

• Leverage: Retail clients 1:30 / Professional clients 1:400

• Spread: Floating starting from 1.6 PIPS

• Commission : None

• Withdrawal Fee: None

Customer Service

• Telephone: +357 2 222 2353

• Email: [email protected]

Broker Review Overview Summary

ForexTB is a broker that offers a wide range of trading platforms and accounts, but it does have some drawbacks that investors should consider carefully. These include the high minimum deposit, which can be a barrier for retail investors. In addition, the leverage provided is quite low and takes time to change, which can make it difficult to manage investment risks. There is also no live chat support for assistance, and only a phone support channel, which limits emergency assistance.

Another important issue is the lack of clear explanation about deposit and withdrawal channels and fees, which may lead to investors encountering unexpected costs, especially inactivity fees that are charged if the account has not been active for a period of time, causing investors who do not trade frequently to be responsible for this cost. Investors should study the information carefully to make sure it suits their needs and investment plans.

ForexTB FAQ

Q: How much money will I get from a demo account?

A: After registration, you will receive a demo account with 100,000 virtual money in the registered currency.

Q: How do I get my password and username?

A: Login details will be sent to your email address after registering on the platform.

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