ForexTB Review – Is it a Scam or Legit Broker (2021)

Information source:
The source of this information is the website and the broker's trading platform listed in the Web section of this review. The operator of this website does not verify this information and is not responsible for its accuracy, completeness, timeliness, truthfulness or the compliance of a broker with legal regulations. Please verify whether the broker is authorized to provide its services in your country of residence in accordance with the legal regulations that apply to its business.

In this ForexTB Review, we are going to take a look at the offer that this broker prepared for its traders. ForexTB is regulated by the CySEC in Cyprus. ForexTB operates on the financial market since 2015. When it comes to trading platforms, the broker features MetaTrader 4. The ForexTB minimum deposit is 250 USD.

Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

Basic information from this ForexTB Review

Website address:https://www.forextb.com 77,80% of retail CFD accounts lose money
Operated by: Forex TB Limited
Licensed and authorised by regulatory bodies:CySec
Supported languages:English, German and Spanish
Customer support available via:E-mail, phone, live-chat
Contact details:[email protected] +357 22 222353
Available deposit methods:Credit and Debit Cards
Available withdrawal methods:Credit and Debit Cards
Minimum deposit:250 USD
Min. trade in lots:0.01
Spreads:Typical spread on the currency pair EUR/USD - 1,1 pips * on standard account type
Tradable assets:
Might be a CFD.
Forex (50)
Mobile app: Yes
MetaTrader 4:Yes
Other trading platforms:
Maximum leverage:

The maximum available leverage can be limited by local financial regulators or by international regulations, in such case, the displayed maximum leverage may not match the leverage you can actually trade with.

For instance, in the European Union, the financial regulator ESMA restricts the maximum available leverage to 1:30 when trading major currency pairs, 1:20 when trading minor pairs and commodities and 1:2 when trading cryptocurrencies. Similar restrictions apply in Australia and possibly in other jurisdictions.

1:200
Social trading:No

ForexTB Fees (typical spreads)

We have scanned fees (typical spreads) that ForexTB charges when trading popular currency pairs, here is their breakdown in pips.

EUR/GBP EUR/USD USD/CHF EUR/JPY GBP/USD USD/JPY
* 1,1* * * 1,4* *

*Typical spreads were recorded on 17.09.2020 at 10:13 for the standard account. ForexTB spreads in the table above serve as illustrative examples only as they for instance, may change according to the market conditions.

Random reviews of competing FX & CFD brokers: GeneTrade, 31-FX, PaxForex and UTDMarket

Frequently Asked Questions

🧐 Is ForexTB a Scam?

ForexTB is a broker licensed and regulated by the CySec. While regulation gives to brokers much needed credibility, it still does not mean every regulated broker is honest. In order to be sure that ForexTB is not a scam, read our trader reviews and check other popular trading related websites and forums.

🆓 What is the ForexTB minimum deposit?

In order to start trading with ForexTB, you have to deposit at least 250 USD (Trading accounts can also be held in USD, EUR, GBP).

📵 What deposit and withdrawal methods ForexTB supports?

ForexTB allows funding your account via Credit and Debit Cards.

⚖️ Would you recommend me choosing ForexTB?

We don’t have our own personal experience with ForexTB. However, because the broker is regulated by the CySec, there is a high chance that it is not a scam. With that being said, it still does not mean that ForexTB is the best option, as there are also hundreds of other regulated brokers with similar or even better trading conditions.

Should you be looking for a highly reliable broker featuring forex trading and CFDs, you can get your hands on our marketing broker IQ Option – 84% of retail CFD accounts lose money , which is a CySEC regulated company that allows trading from as little as $10 and charges highly competitive fees on all assets.

Broker Regulated by Regulatory agencies ensure that brokers operate in a transparent and honest way. They protect the best interests of clients and also feature an investor compensation scheme which protects trader´s deposits up to a certain limit. Some of the major regulators in the industry include the CySEC in Cyprus, the FCA in the UK and the ASIC in Australia. Min. deposit Trading platforms A trading platform is a computer or mobile software program used to execute transactions within the financial markets. Spreads Special features A list of features that provide a given broker with a competitive edge. Ad Disclosure The table below contains links to 3rd party websites of our top partners from whom we receive compensation at no additional cost to you.
CySEC £/€/$ 250 MT4 1.8 PIPs ¹
  • User-friendly trading platform
  • International support
Start tradingRead a review
CySECFCA £/€/$ 1 MT4 & xStation 5 0.9 PIPs¹
  • Competitive spreads
  • Great customer support
Start tradingRead a review
ASICCySECFCA £/€/$ 100 In-house built platform 0.7 PIPs ¹
  • User-friendly trading platform
  • Long-established company
Start tradingRead a review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

¹ Variable spreads, spreads recorded for the EUR/USD on 05.10.2021 at 11:42 GMT.

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