ForexTB Review

Review sections

• Investor Protection & Regulations
• Tradable Products
• Account Opening
• Deposit & Withdrawals options
• Web & Desktop Trading Platforms
• Mobile Trading Platforms
• Trading Features
• Commissions & Spreads
• Bonus & Promotions
• Customer Support
• Research
• Trader Education
• Trading Experience
• FAQ
• Conclusion

ForexTB Video Review

Investor Protection & Regulations

“ForexTB is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC).”

ForexTB is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), as confirmed on the CySEC register below:

The broker provides further security of client funds by the following regulatory requirements:

• Holding client funds in segregated accounts from company funds.
• Providing a negative balance protection policy.
• Membership to the Investor Compensation Fund.

Forex TB Limited offers services within the European Economic Area (excluding Belgium) and Switzerland.

Tradable Products

“ForexTB offers users the ability to trade on more than 300+ markets covering Forex, Stocks, Commodities, Indices and Cryptos.”

ForexTB offers users the ability to trade on more than 300+ markets covering Forex, Stocks, Commodities, Indices and Cryptos. Below is a list of some of the available assets:

* Details regarding the available assets are taken from the ForexTB website and trading platform and are correct at the time of this review.

Trading costs such as spreads and overnight funding (swap) rates vary depending on the account type opened and instrument being traded and are covered further down this review.

**The Company does not offer and/or promote and/or distribute CFDs on Virtual Currencies (Cryptocurrencies) for the residents of the United Kingdom.  

Account Opening

“ForexTB offers 4 account types called Basic, Gold, Platinum and VIP, as well as access to a demo trading account.”

ForexTB offers 4 account types called Basic, Gold, Platinum and VIP, as well as access to a demo trading account. Each account comes with different features and benefits, as highlighted below:

For retail traders, the maximum leverage offered is 30:1 and for professional traders, it is 400:1. Each account type comes with different minimum deposit amounts. Generally speaking, the higher the deposit the better the trading costs and the more access to features you receive.

Professional clients are still offered negative balance protection, segregation of client funds and higher leverage but will lose ICF Compensation.

Opening an account is simple. After clicking the Sign-Up button on the broker’s homepage, users are asked for name, email and telephone number. Users are then redirected to the broker’s online web trading platform to complete the application form which asks for personal details, financial details, trading experience and more.

Standard KYC and AML regulatory requirements require users to provide proof of identity and proof of address documents for verification. The verification process is simple and can be done directly from the trading platform and client portal area. From this client portal area, users can also access deposit and withdrawal options.

Deposit & Withdrawals options

“ForexTB offers the ability to deposit funds fee-free via credit/debit card, electronic payment and wire transfer. Withdrawals are charged at 3.5% for credit/debit cards and 30 USD/EUR/GBP for wire transfer.”

ForexTB offers the ability to deposit funds fee-free via credit/debit card, electronic payment and wire transfer. This can be done directly from the client portal area and trading platform once logged in.

Withdrawals are charged at 3.5% for credit/debit cards and 30 USD/EUR/GBP for wire transfers. This can also be done in the Banking section of the client portal area once logged into the trading platform.

Web & Desktop Trading Platforms

“ForexTB offers users the ability to trade on Forex/CFDs and other assets in the globally recognised MetaTrader 4 platform and it’s own web-based trading platform.”

ForexTB offers multiple trading platforms suitable for both beginner and advanced traders. These include the following:

ForexTB MetaTrader 4

The ForexTB MetaTrader 4 trading platform is available for desktop download and offers features such as:

• 3 chart types
• 50+ technical indicators
• Automated trading tools
• Trade on Forex and CFDs

ForexTB Web Platform

The ForexTB Web platform is available via web browser and offers features such as:

• No download required
• Trade on multiple asset classes
• Access economic calendar and news
• 6 chart types
• View the popularity of buy/sell on each asset

A screenshot of the ForexTB Web platform is shown below and is covered in more detail in the video review.

Mobile Trading Platforms

“ForexTB offers users the ability to access mobile trading on the go from the MetaTrader 4 mobile trading app for Android and iOS systems.”

ForexTB offers users the ability to access mobile trading on the go from the MetaTrader 4 mobile trading app for both Android and iOS systems. The app download links can be found in the Google PlayStore or Apple AppStore.

The MetaTrader 4 mobile trading app provides a range of different features including:

• Trade and manage your account on the go
• Access real-time pricing and trading
• Multiple order types
• Chart analysis with indicators

The ForexTB MetaTrader 4 mobile trading app is covered in more detail in the video review.

Trading Features

“ForexTB does not provide any additional features from what is already available in the trading platforms offered. However, users can still access the MetaTrader Market place from the desktop platform.”

ForexTB does not provide any additional features from what is already available in the trading platforms offered. However, users can still access the MetaTrader Market place from the desktop platform. This provides users with the ability to download technical indicators and automated strategies, as well as access copy trading services.

Commissions & Spreads

“Trading is commission-free with ForexTB but spread and swap costs vary depending on the instrument being traded and account type opened. There is also an inactivity fee of 80 EUR if no activity has been made in 1 month.”

Trading is commission-free with ForexTB but spread and swap costs vary depending on the instrument being traded and account type opened. The higher the deposit in the account the better the spreads are, as shown below:

Spread and swap values can also be found directly in the trading platform. According to the broker’s legal documents, they will charge a monthly inactivity fee of 80 EUR if no transactions have taken place on your account for a period of at least 1 month.

Bonus & Promotions

“In accordance with regulatory restrictions, ForexTB does not offer any bonuses or promotions.’’

Customer Support

“ForexTB offers customer support via email, telephone and live chat but only during weekdays. They also provide access to a detailed FAQ section.”

ForexTB offers customer support via email, telephone and live chat but only during weekdays. They also provide access to a detailed FAQ section. After calling the broker’s telephone number we were greeted with options to choose from different languages and connected in good time.

Contact Information:

• Address: Kleanthis Tower, Lemesou Avenue 71, 2nd Floor, 2121, Aglantzia, Nicosia, Cyprus
• Phone: +357 2 222 2353
• Social Media:
  • https://www.facebook.com/forextb/
  • https://mobile.twitter.com/forex_tb

Research

“ForexTB provides trader research through its Market News section, through Trading Central’s daily market updates in the broker’s web trading platform and an economic calendar.’

ForexTB provides trader research through its Market News section, through Trading Central’s daily market updates in the broker’s web trading platform and an economic calendar. The Market News section provides articles covering a wide variety of different asset classes and also includes a US Daily Market Review and European Daily Market Review.

When logged into the broker’s online web trading platform users can also access technical research and an economic calendar from Trading Central, as shown below:

Trader Education

“ForexTB provides educational resources from Trading Central.”

ForexTB provides educational resources from Trading Central which covers a wide variety of different topics such as Advanced Strategies, Advanced Technical Analysis, Capital Management, Trading Psychology and more.

Trading Experience

“ForexTB provides a simple, user-friendly trading experience, offering over 300 financial instruments across two trading platforms.”

From our observations, ForexTB provides a simple, user-friendly trading experience, offering over 300 financial instruments across two trading platforms. The MetaTrader 4 trading platform allows advanced traders to use the MetaTrader marketplace and automated trading strategies. The broker’s own web-based platform is simple to use with additional features and tools as well as a tutorial on how to use the platform when signing up.

Users can trade on CFDs covering Forex, Stocks, Indices, Commodities and Crypto while accessing research from Trading Central. While trading is commission-free the best spreads are found on the higher minimum deposit accounts. Users should also be aware of the 80 EUR inactivity charge if no activity has taken place within a month.

FAQ

Is ForexTB regulated?

Yes, by CySEC.

Where is ForexTB based?

How does ForexTB make money?

ForexTB makes money mainly through spreads and swaps on certain asset classes.

How do I deposit in ForexTB account?

Funds can be deposited into a trading account via credit/debit cards, electronic payment and bank transfer.

What is the min. deposit for ForexTB?

The minimum deposit is 250 EUR.

How do I withdraw money from ForexTB?

Withdrawals can be made from ForexTB via credit/debit cards and bank transfer.

What is the max leverage in ForexTB?

The maximum leverage offered by ForexTB is 30:1 for retail clients and 400:1 for professionals.

How do I open an account with ForexTB?

An account can be opened at the click of a button on the ForexTB website and can be done in just a few steps.

Does ForexTB use MetaTrader?

Yes, MetaTrader 4.

Conclusion

“ForexTB is a CySEC regulated broker offering over 300 financial CFD instruments on Forex, Stocks, Commodities, Indices and Cryptos on the award-winning MetaTrader 4 trading platform and its own WebTrader platform.”

ForexTB Ltd, which operates the ForexTB website, was founded in 2015 and is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC).

FXTB offers 4 different account types: Basic, Gold, Platinum and VIP. Each account type has different specifications on deposits and trading costs, and offers different additional services such as live webinars, access to Trading Central education, 0% trading commissions and more.

With ForexTB, users can trade on more than 300+ financial CFD instruments covering Forex, Stocks, Commodities, Indices and Cryptos. The broker offers the globally recognised MetaTrader 4 trading platform as well as its own simple to use web platform and various research and education tools.

• CySEC regulated.
• 300+ CFDs to trade on.
• Can trade on MetaTrader 4.
• Simple to use online web-based trading platform.