Minimum Deposit: €250
Max Leverage: up to 1:400 for professional clients,up to 1:30 for Retail clients
TradingCommissions: 0%
Regulated: CySEC
Market Asset: 300+
Customer support: 24/5
Deposit Fees: 0
ForexTB/FXTB was launched in 2015 and serves traders with Derivatives trading based on Contract for difference (CFD). FXTB website is operated by Forex TB Limited located at Lemesou Avenue 71, 2nd Floor 2121 Aglantzia, Nicosia, Cyprus. It owns and operates the “ForexTB” Brand.
Beginners feel that ForexTB is valid due to the emerging and steady customer flow which proves its redemption of customers. FXTB is constructed considering the customer’s point of view. It also develops various new features and updates itself with modern generation technology to serve the needs better.
ForexTB will be suitable for CFD traders. They can start with €250 signing up to a basic account and have the best leverage on the market. For the experienced traders, it will be a good one to trade in as it has multiple tools which can be used in trading.
ForexTB provides its best for the traders who are seeking assurances such as segregated accounts and insurance. We will discuss further its Regulation, Types of accounts and more in detail.
Image 1: Homepage from ForexTB website
Regulation and Trustability
ForexTB Limited, Licensed and Regulated by Cyprus securities and exchange commission (CySEC), Licence Number: 272/15 as a Cyprus Investment Company (CIF). Authorised by the CySEC authorities and legal to provide services to clients within EEA (European Economic Area) and Switzerland Excluding Belgium, under The Investment Services and Activities and Regulated Markets Law of 2017.
ForexTB is more transparent by providing clear information about the company, which helps it to build trust with the clients. It holds its client’s funds in separate and highly secured accounts apart from the company funds. Negative balance protection is also available to its clients.
ForexTB is also a member of the Investor Compensation Fund which provides security to investments of up to €20,000, depending on the account type a client holds. This shows how the company gives importance to its clients and makes them feel safe to concentrate on their trades.
Investment, Products, and Instruments
ForexTB provides 300 financial assets to its clients and the products include 50 Forex pairs, major corporation Shares, Stocks, Indices, Cryptocurrencies, Commodities including metals, energies, and agricultural products. The United Kingdom resident clients are not allowed to trade CFD on cryptocurrencies.
Trading Platforms
ForexTB provides three different types of trading platforms to its clients, which are,
- Web-based or online trading platform,
- MetaTrader 4 (MT4) platform (Available online and also downloadable) and
- Customised web mobile platform in the form of mobile applications which are available for both iOS and Android.
All the platforms are updated regularly with modern technological features and have the capability of automated trading. This allows the trader to open and close positions based on pre-determined algorithms and markets analysis.
Image 2: A screenshot from ForexTB homepage giving an introduction about their different kinds of trading platforms.
ForexTB Web trading platform
The Web-based platform can be accessed directly from the broker’s website after you sign up/log in with your credentials. Only limited customisation is available in this web platform but it satisfies the customers’ needs with basic tools available.
Accessibilities like Trade on multiple asset classes, economic calendar, news, etc., are available to the traders. They can also view the popularity of buy/sell on each asset.
Image 3: The FXTB web/online platform shows the list of cryptocurrency/fiat currency pairs. Detailed information on Bitcoin USD and its chart are also present. (Can be accessed only after you Log in to your account)
MetaTrader 4 (MT4) platform
ForexTB provides downloadable and online versions of the MetaTrader 4 (MT4)trading platform. MT4 is the most popular trading platforms for day trading in Forex, which provides enormous features and is highly customisable.
ForexTB MT4 provides 3 chart types, 50+ technical indicators, Automated trading tools, etc., which helps to trade with ease on Forex and CFDs.
Image 4: ForexTb gives an introduction and the links to access their MT4 platform
Mobile Trading
The mobile trading application of ForexTB is available and designed to be compatible with both iOS and Android devices. This customised web mobile application provides an easy-to-use interface for the customers to do trading on the go.
ForexTB app can open and close positions, analyse charts and follow prices of all tradable assets. It has the same features as any other trading apps that are available in the market. The ForexTB mobile app works well without any drawbacks according to the customers’ review.
Account Types
ForexTB provides four different account types which are real and tradable. Another account type is especially available for the demo purpose of the client. This Demo account provided by ForexTB is a boon for Beginners who have just started trading and can be a great practice field.
The demo account is available to the traders after they Sign up with ForexTB. While signing up traders can select the ‘Free Demo’ option and then Sign up to access the demo account.
The Demo account has $100,000 of simulated money automatically available within the account to make the clients feel free to have an experience with the trading platform. Traders can analyse the market, listen to the news and place some trades with no risk on capital.
The other four accounts provided by ForexTB to its clients are based on their requirements. Leverage rates are the same for all four account types but will vary in the professional and retail accounts.
The four account types are Basic, Gold, Platinum and VIP with separate features for each account. Spread and withdrawals are limited by the type of account and investments which range from €250 < €250,000.
Fees, Commission, and Bonus
No bonus is available at present. Accounts can be funded by credit cards, debit cards, wallets, and wire transfers. ForexTB accepts USD, GBP, and EURO. No fees for deposit in all the different FXTB account types.
The Features for various account types are,
- Basic Account – €250 minimum deposit – EUR/USD 2.5 pip per spread, only one free withdrawal in total, Daily signal alerts.
- Gold Account – €25,000 minimum deposit – EUR/USD 2 pip per spread, monthly one free withdrawal, Daily signal alerts.
- Platinum Account – €100,000 minimum deposit – EUR/USD 1.6 pip per spread, monthly three free withdrawals, Daily signal alerts.
- VIP account – €250,000 minimum deposit – EUR/USD 1.1 pip per spread, No limit on monthly withdrawals, Daily signal alerts.
Leverage
The European Securities and Markets Authority (ESMA) regulations apply to ForexTB also as it is a regulated broker platform. So, retails clients are restricted to leverage rates of 1:30 to prevent traders from magnifying their risk exposure.
ForexTB provides professional traders with leverage rates up to 1:400. Inactive fees of €80 will be charged for the inactive accounts if it has no activity for a month. There are also Swap fees for positions that are held open overnight.
Withdrawal fees differ for the account types as mentioned above. It is equivalent to 3.5% for the withdrawal to payments made through cards and €30 for the bank transfer once you have exceeded your monthly withdrawal limit.
Customer support
ForexTB supports customers from various regions with different languages such as English, German, Dutch, Italian, Spanish, Swedish, and Polish. They provide online chat support for the traders with technical support five days a week and not on weekends.
Emails are responded to in the daytime at info@forextb.com. They can be reached by phone at +357 2 222 2353.
Dedicated account managers are available for the account holders to answer their queries and provide support when needed.
Education and Research
FXTB introduced TC (Trading Central) Market Buzz designed and powered by TC Lab’s natural language processing and artificial intelligence. Buzz helps to solve the infobesity problem plaguing today’s investors. This attracts many customers as well as beginners.
Image 6: TC Market buzz from Forex TB website. This can be accessed from the ForexTb Homepage Education section Trading central
Buzz provides quality education and clarification on trades for the traders, both for beginners and experienced ones. Tip Ranks, Video tutorials, online courses, webinars, articles and eBooks are available for the needy traders and it also depends on the account type they choose.
Traders also have access to daily signals, market news, feeds, advanced strategies, advanced technical analysis, capital management, economic calendar, etc.
There is also a cost calculation tool called Asset Calculator to calculate spreads, swaps, trade size, and fees on the website itself. It is available for free and even if you do not have an account in ForexTB you can access it from the ForexTB homepage à Account à Asset Calculator.
