Forex Optimum Review
Forex Optimum is an online trading broker that began operations in 2009 and currently has an extensive international partner network from over 26 countries, with more than 10 million processed transactions. They offer several financial instruments, including forex, shares, metals, indices, energies, and more for trading online via the intuitive and user-friendly MT4 trading platform.
Forex Optimum Review, Pros & Cons
- A variety of trading instruments
- A selection of educational resources
- A range of useful trading tools
- MetaTrader 4 platforms
- Multiple account deposit & withdrawal options
- Lack of regulation
- Located offshore
- Not the lowest spreads
- No USA traders allowed
- No live chat support
- No MetaTrader 5 platforms
In this detailed Forex Optimum review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Forex Optimum Overview
Based in Kingstown, Saint Vincent, and the Grenadines, Forex Optimum is an international investment company that provides traders all over the world with modern trading services, such as a high-tech trading platform, 24/7 client support, and up-to-date analytics and trading signals. They also offer multiple trading account options and charge no commission on trades.
Forex Optimum Regulation
Forex Optimum is owned and operated by Forex Optimum Group Limited with registration number 20603 IBC 2012. There is no regulatory information on the broker’s website at the moment. Many experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our trading broker reviews for alternative regulated brokers.
Forex Optimum Countries
The broker permits traders from different parts of the globe to open an account with them if their countries of residence permit online treading with international brokers.
Some Forex Optimum features and products mentioned within this Forex Optimum review may not be available to traders from certain countries because of legal restrictions.
Forex Optimum Platforms
The broker allows clients to trade the available trading products using one of the leading trading platforms, MetaTrader 4, which was launched in 2005 by the Russian software company, MetaQuotes. It has an intuitive yet user-friendly interface, thus, making it suitable for both beginner and advanced traders. The MT4 trading platform is available as a desktop application for Windows and Mac computers, a WebTrader that can run directly on modern web browsers, and a mobile app that is designed for mobile smartphone devices running on Android and iOS.
Forex Optimum Trading Tools
Trading tools such as the Economic Calendar and Trading Signals, are made available to clients.
Forex Optimum Education
Traders also benefit from some helpful educational resources, such as market news, trading guides, and more.
Forex Optimum Instruments
The broker offers the following trading assets: forex, shares, metals, indices, energies, and more.
Forex Optimum Accounts & Fees
The broker offers a choice of two live trading account types, the Cent Account and Standard Account, with minimum required deposits of $10 and $300 respectively. There is a leverage of up to 1:1000, and spreads start from 1.2 pips. A demo account that comes preloaded with virtual funds is also available for practice purposes.
As broker fees can vary and change, there may be additional fees that are not listed in this Forex Optimum review. It is imperative to ensure that you check and understand all of the latest information before you open a Forex Optimum broker account for online trading.
Forex Optimum Support
The broker provides traders with a professional-client support team that can be reached via telephone, email; and social media.
Forex Optimum Deposit & Withdrawal
The following payment methods are accepted for account deposits and withdrawals:
- Credit/Debit cards
- Bank wire transfer
- Electronic payment processors, such as WebMoney, Neteller, QIWI, FasaPay, and more.
Forex Optimum Account Opening
To open an account, click on the ‘Open an Account’ button at the bottom of the broker’s website, fill in your name, e-mail, and phone number, and hit the ‘Registration’ button. Your login details will be sent to you, which will be used to access your account subsequently.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
Forex Optimum Summary
Forex Optimum is a trading broker that has been in operation in Saint Vincent and the Grenadines since 2009, providing traders with intuitive platforms to trade several financial instruments. Clients are provided with a good selection of educational resources, trading tools, and a responsive client support team. There are multiple account options to choose from. However, the broker is unregulated which could pose concern amongst some potential clients.
Operations, which are available on the broker’s website, might be considered as high-risk and their performance may be eminently risk-generating. In case you buy financial instruments and/or services available on the broker’s website, you may be exposed to losing the funds invested or deposited on your trading account either in a substantial part or as a whole. Therefore, you should not risk an amount you cannot afford to lose.