ForexTB is an online trading broker that is based in Cyprus and offers over 300 financial instruments across different asset classes, such as forex, commodities, cryptocurrencies, stocks, and indices, for trading online via a range of intuitive trading platforms. There are trading tools, educational resources, and a client support team to help traders.
ForexTB Review, Pros & Cons
- A range of intuitive trading platforms
- Educational resources & trading tools
- Over 300 trading instruments
- EU traders only
- No Belgium clients
- Not the tightest spreads
- Limited account funding options
- No FIX API for DMA
In this detailed ForexTB 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.
ForexTB is a retail trading broker that is operated and regulated in Cyprus. They provide traders with innovative platforms for trading over 300 financial assets online. Clients can choose from a variety of trading account types. The broker has some useful trading tools and educational resources in place to help deliver a seamless trading process.
ForexTB is operated by ForexTB Limited, a Cyprus Investment Firm that is authorized and regulated by the Cyprus Securities and Exchange Commission with CIF license number 272/15.
ForexTB Limited offers its services within the European Economic Area (excluding Belgium) and Switzerland.
Some ForexTB features and products mentioned within this ForexTB review may not be available to traders from certain countries because of legal restrictions.
The broker provides traders with the MT4 and their own proprietary trading platforms. Developed in 2005 by the Russian Software Company, MetaQuotes, the MT4 platform is widely used by most forex/CFD traders because of its intuitive and simple interface. The platform is packed with a range of useful features, such as one-click trading and support for automated trading using expert advisors, and it is available in desktop, web, and mobile versions.
The ForexTB trading platform comes as a WebTrader that can run directly on modern web browsers without any need for installing an application first. It also has a mobile version that is designed for smartphone devices running on Android and iOS.
ForexTB Trading Tools
Traders are provided with a range of trading tools that are aimed at ensuring a hitch-free trading process. These include the Trading Central, Economic Calendar, Technical and Fundamental Analysis, and many others.
The ‘Education’ section of the broker’s website is packed with a selection of educational resources, such as trading webinars, VOD, trading e-books, market news, and glossary.
The broker offers online trading of multiple trading instruments, such as forex, commodities, cryptocurrencies, stocks, and indices.
ForexTB Accounts & Fees
ForexTB offers a wide variety of different trading account options to suit clients’ individual trading objectives and capital. They have minimum deposit requirements ranging from $250 to $250,000, low spreads starting from 1.4 pips, and leverage of up to 1:30 and 1:400 for retail and professional clients respectively. The account types include Basic, Gold, Platinum, and VIP Accounts.
As broker fees can vary and change, there may be additional fees that are not listed in this ForexTB review. It is imperative to ensure that you check and understand all of the latest information before you open a ForexTB broker account for online trading.
The broker provides traders with a knowledgeable customer support team that can be reached through telephone and Live Chat. Their website is available in 7 different languages to serve a global clientele.
ForexTB Deposit & Withdrawal
The following payment methods are accepted by the broker for account deposits and withdrawals: Credit Cards, Electronic Payments, and Wire Transfer.
ForexTB Account Opening
Opening a ForexTB Account is easy. Upon clicking the Signup button, an account opening page is displayed. You are required to complete the form, check the consent boxes, and then click on ‘Start Trading’.
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.
ForexTB is a regulated trading broker that is based in Cyprus, providing traders with a range of innovative trading platforms for online trading of over 300 financial instruments. There are trading tools, educational resources, and a client support service available to traders.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.