ForexTB is a CFD broker that works with the user-friendly Scipio trading app. The trading app is very popular with new day traders and investors due to its simple interface and intuitive design. Experienced forex traders can download the industry standard MT4 trading platform.
|🥇 Best Provider||Forextb|
|⭐Rating||5.0 / 5.0|
|🐂 Underlyings||Currency Pairs, Cryptos, Commodities|
|📈 Conditions||Spreads and Commission|
|💻 Software||MetaTrader 4|
|🏆 Forextb||Trade Now!|
ForexTB was introduced to the financial services industry in 2015. The broker has continued to evolve since then and has established itself as a fast growing CFD broker thanks to the many innovative tools it provides. Everything that a trader needs for a comprehensive trading experience can definitely be found at ForexTB.
The provider is based in Cyprus, however, as a European broker, ForexTB's website is localized and developed in different languages – including English, Canadian, Spanish, Italian, Swedish and Dutch. The trading account can be maintained in the following currencies: USD, EUR & GBP.
ForexTB at a glance
|Leverage||Up to 1:400 (professional traders) Up to 1:30 (retail clients)|
|Spreads||Flexible spreads depending on account type and underlying asset|
|Fees|| |115||Wettbewerbsfähige Spreads. Standard Trading-Gebühren und allgemeine Gebühren|
|Assets||270+ popular CFDs including Currency Pairs (FX), ETFs, Commodities, Indices, Stocks and Cryptocurrencies|
|Trading- Alerts||Trading Central alerts are provided|
* Subject to change
|Minimum lot size||0.01|
|Account currencies||EUR, GBP, CHF, USD|
|Account Types||Basic, Gold, Platinum and VIP|
|Withdrawal Conditions||Credit to Source of Deposit Kostenlose Abhebungen (je nach Kontoart) und vorbehaltlich der AGBs|
The ForexTB Review: Our Experience at a Glance
There are several aspects of ForexTB that contribute to its successful trading environment . First, its online WebTrader is not only user-friendly, but also extremely responsive on any mobile device, making the transition from desktop trading to trading on a mobile device easy.
In addition, you can access over 270 tradable assets Currency pairs (FX), stocks, indices, commodities, ETFs and cryptocurrencies can be accessed and the ratio between buying and selling popularity (customer choice) of each instrument can be viewed within the online trading platform.
ForexTB provides its users with the tools they need to reach their potential. Their educational center on the site offers in-depth materials on forex, commodities and more, as well as trading analysis, market news, alerts and advanced studies.
Other highlights according to our ForexTB review include: Spreads as low as 1.1 pips (depending on the account type), minimum deposit of $250, leverage of up to 1:400 for professional traders and 1:30 for retail traders, along with 100% margin calls.
ForexTB thus provides a solid foundation for online investors and ensures overall smooth trading for both novice and professional traders. An added bonus: demo trading accounts are also available at ForexTB. So if you want to familiarize yourself with the platform first and gain ForexTB experience, you can use it for that.
By the way, the minimum deposit for a basic level trading account is $250.
|Company:|| |204||ForexTB Limited|
|Address:||Lemesou Avenue 71, 2nd Floor 2121 Aglantzia, Nicosia, Cyprus|
|Phone:||+357 2 222 2353|
Behind the ForexTB brand is a Cypriot investment company. The company is authorized and regulated by the regulator Cyprus Securities and Exchange Commission (CySEC). This authority has a first-class reputation and is responsible for many online brokers on the market. The long market affiliation of ForexTB speaks for itself - after all, the provider has been able to hold its ground successfully since 2015.
As a disadvantage, we see that after a month of inactivity, there are account fees and the relatively high fees for withdrawals. But that's about all the negative aspects of this portfolio!
In the test: Is ForexTB a scam or not?
Trading CFDs is known to always involve a certain risk. CFDs are complex financial products that come with a significant risk of losing money quickly due to leverage. It is all the more important that customers can rely on their broker's serious working methods. The provider proves that this is the case with ForexTB in various ways. As mentioned, ForexTB is licensed by the Cyprus financial regulator CySec. This license clearly shows that it is a reputable provider and that ForexTB is not a scam.
It is certainly just as good to know that the broker also uses so-called SSL encryption. This is a protection that encrypts all user data. This ensures that these are only transmitted in a protected manner. As a result, traders do not have to worry about the security of their own data. All clients' funds are also held in segregated accounts in accordance with legal requirements.
Anyone who would like additional protection can take a look at the history of ForexTB. The provider has been successfully active on the market for more than five years. Of course, this wouldn't be possible if it wasn't a reputable broker and ForexTB was a scam.
It is also worth noting that the 3D Secure v2 standard is used. This is a payment card authentication method to protect online transactions. According to ForexTB's help section, they also comply with all EU personal data laws and thus meet the requirements of the GDPR. So everything indicates that ForexTB is a legit broker and there is no scam involved.
Overview of the ForexTB offer
In our ForexTB test, the provider convinced with some important functions and features. Here you can find all information about ForexTB's underlying assets, account types, platform used and comprehensive training center.
Various underlying assets available
ForexTB traders can trade over 300 financial assets. Products include 50 forex pairs, major company stocks, commodities (including precious metals, commodities and agricultural products), cryptocurrencies and stock indices.
CFDs can be traded on 5 leading cryptocurrencies: Bitcoin, Ethereum, Dash, Ripple, Monero, Litecoin. A reasonable spread of between 1-3% is charged for buying and selling.
Four Different Account Models
ForexTB offers different account types suitable for different types of traders depending on their level of experience. Whether you are a novice or a professional, ForexTB has a model for everyone.
There are 4 account type levels, as well as the ability to try a $100,000 virtual demo account. The ForexTB demo account is perfect for any trader who wants to learn how to navigate the platform, how to use trading tools and try out their trading strategies. Here you can test strategies with virtual money and improve your understanding of the market.
For financial trading you need a lot of knowledge and experience, which can be tested in order to achieve success later. However, trading with automatic robots is also possible here. These not only help to explain the advantages and disadvantages, but also directly carry out the transactions for beginners. So you're already learning while you're making money!
The available account currencies are EUR, USD, CHF and GBP and the account type offering is Basic, Gold, Platinum and VIP. The basic account starts with a minimum deposit of $250, includes 1 free withdrawal per month and 2 signal alerts per day. In addition, Basic users receive a basic lesson, but cannot access any of the webinars.
The following applies to the other account models: the more expensive, the more functions! For example, with the VIP account you always get free withdrawals, 5 advanced lessons, 7 daily signal alerts and 5 monthly webinars!
Each account type has its specific characteristics, a certain number of lessons (the more expensive the account, the more advanced!), as well as access to daily SMS notifications and a fixed number of free debits. Those who already have a lot of experience trading CFDs will definitely be better suited for more advanced accounts.
ForexTB online markets are accessed through the following user-friendly, dynamic trading platforms: MetaTrader 4 (MT4) for desktop, WebTrader platform and MT4 application.
MetaTrader 4 is known to many who are familiar with financial trading and not only enables traders to conduct targeted and effective trading, but also offers additional interesting functions. For example, you can analyze charts precisely and at the same time observe the movements of the charts with different colors.
MT4 is not only popular as a trading platform because of its user-friendliness, but has also received numerous awards.
Every trader at ForexTB can benefit from the training center with constant updates. ForexTB really does an excellent job of providing its users with the best tools to reach their potential. It really seems like ForexTB wants users to succeed with the platform and gain experience through ForexTB.
Trading CFDs is not risk free and requires extensive knowledge and understanding of the market. If you don't have this yet or want to deepen it further, you can access ForexTB's entire trading knowledge via the training courses. Depending on the account model, as a trader you have access to different levels and a certain number of webinars and courses to improve your understanding and knowledge.
ForexTB also explicitly states that it is not a financial advisor. So if you as a trader have made losses due to what you have learned from the educational platform, you cannot blame ForexTB for this financial loss.
On the education page, users can find daily market updates, a glossary of trading terms, an economic calendar, daily analysis, training webinars and trading e-books. Depending on what interests you, you can find out more about general sites such as forex, commodities, CFDs and more. On the other hand, there is also analysis, information on the effects of leverage and margins, and news on the current market.
If you would like to compare with other forex brokers, you can find anoverview of the largest forex brokers including a comparison here.
ForexTB bonus for new customers: Not available
No new customer bonus can be found in the provider's portfolio. However, this fact cannot necessarily be rated negatively in the test report. After all, a broker is legally bound and is therefore not actually allowed to provide a bonus for new customers. This is because the bonuses of some other brokers who have offered this in the past have not always come with fair wagering requirements. So the awarding of these offers was forbidden without further ado. The fact that ForexTB adheres to this requirement and there is no ForexTB bonus underlines the seriousness of the broker to a certain extent.
|More Bonus Offers:||–|
ForexTB Deposit and Withdrawal
ForexTB clients can enjoy a quick and easy transaction process, to make deposits and withdrawals in connection with their trading account. Customers must note that for security reasons, withdrawals must always go back to the source of the deposit.
Depending on the country the user resides in, deposits and withdrawals can also be made using various payment methods including credit and debit cards, wire transfer and popular electronic payment systems such as Skrill, Neteller, Sofort, GiroPay, iDEAL, Przelewy24, Trustly, MyBank and Verkkobankki.
|Payment Methods at ForexTB|
|Deposit Methods:||Credit/Debit Card, E-Wallets and Wire Transfer|
|Minimum Deposit:||Richtet sich nach dem ausgewählten Kontotyp. für das Basic Konto: 250$|
|Accepted Currencies:||EUR, GBP, CHF, USD|| |394|
|Auszahlungsoptionen:||Bank Account or E-Wallet|
Withdrawal options - & cost depend on account type: VIP accounts all withdrawals are free, Platinum accounts can make 3 free withdrawals per month & Gold accounts get 1 free withdrawal per month. Basic accounts get one free withdrawal and pay a fee for each additional one.
Security and regulation
How safe a broker is can often only be determined when something has happened. So far, this is not the case with ForexTB. If you consider that the provider has been on the market since 2015, this definitely speaks for the platform. After all, it has been used by thousands of users over the years. According to our ForexTB test, everything indicates that there is no fraud by ForexTB.
ForexTB brand is operated by Forex TB Limited (a Cyprus Investment Firm). As with many other online trading platforms, ForexTB's regulator is located in Cyprus, which is also where the provider is based. The Cyprus Securities and Exchange Commission authorizes and regulates ForexTB with CIF license number 272/15.
ForexTB offers services within the European Economic Area (excluding Belgium) and Switzerland. Despite the comprehensive educational center, ForexTB refrains from providing advice, recommendations or opinions in relation to the acquisition, holding or disposal of any financial product. Forex TB Limited is not a financial advisor and all services are provided on an execution basis only.
ForexTB offers a professional and friendly customer service. So if traders have any questions or anything is unclear, they can contact customer support, which is available almost around the clock.
The detailed help area also provides answers to over 100 frequently asked questions in Canadian and many other languages. All important topics such as registration, deposit and withdrawal as well as the GDPR guidelines are dealt with.
Support via live chat (24 hours a day, 5 days a week) or telephone will answer any further questions. This is also multilingual and staffed by dedicated account managers to provide ongoing support.
According to our ForexTB test and experience, the broker works transparently and allows a risk-free entry thanks to the free demo account. The navigation on the platform is understandable even for beginners and according to our test all fees are presented transparently and understandably. The fact that traders also have the option of using ForexTB on an app speaks for the user experience and expands the radius of action! The help area is detailed and the live chat allows you to contact them with little effort.
Basically, we can say that there is no fraud by ForexTB and the operator works seriously and makes good offers. For anyone who is still looking for comparative values, our independentoverview of the best CFD brokers 2022 is ideal. There you will find detailed tests, opinions and information about other brokers.
ForexTB definitely has the appropriate certifications and regulations required for safe trading, making the platform a reputable provider. So, we generally recommend trying ForexTB when it comes to trading CFDs on forex, stocks and commodities. However, it should not be forgotten that trading can be very risky. Not all users get positive returns on their investments. Well thought-out and well-founded decisions are important in order to really make money in trading.
All of the above information about the ForexTB brand, the products and services it offers is correct at the time of publication. For more information, please visit the ForexTB website.
57% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing money.