ForexTB Review - What to expect from the broker
ForexTB is a CFD Broker that features on the world’s leading trading platform MT4 forex pairs, stocks, indices, commodities and cryptocurrencies. ForexTB is a subsidiary company of Forex TB Ltd, a corporation that is regulated and overseen in Cyprus by the CySEC. The ForexTB company provides multilingual customer support that can be reached out via live chat, phone or e-mail.
|General Risk Warning: 74-89% 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.|
Basic information about ForexTB
- Website address: www.ForexTB.com
- Instruments: CFDs - Forex, stocks, commodities, indices, cryptocurrencies
- Minimum deposit: £/€/$ 250
- Demo account: Yes, unlimited and free of charge
- Methods of deposit and withdrawal: Wire Transfer, Neteller, Skrill, Credit and Debit cards
ForexTB Trading Platform
For FX and CFD trading, ForexTB offers MT4 and Patron Web FX Browser Platform. MT4 provides a comprehensive solution for technical analysis and automated trading. MT4 can be downloaded to any computer or can be accessed via just a web browser or a mobile application. Patron Web FX Browser Platform can be accessed via just a web browser. The broker gives access to over 300 trading instruments.
Available assets at ForexTB
ForexTB supports speculation on a little over 300 trading assets (all of which are CFDs). The company features on their trading platforms the following 5 asset categories.
- Forex: There are over 50+ currency pairs including major pairs like EUR/USD, GBP, USD as well as minor and exotic pairs (for instance USD/ZAR, USD/PLN, USD/INR...)
- Stocks: In this asset category you can find at ForexTB around 200 stocks most of which are American or European.
- Indices: Here are around 20 indices, including German DAX or American SP500 and NASDAQ.
- Commodities: Soft commodities (sugar, coffee, cocoa...), precious metals (gold, silver...) or hard commodities (zinc, nickel...) can be found here as well, in total there are currently 23 commodities.
- Cryptocurrencies: The broker currently offers access to 43 cryptocurrency pairs (Here you can find Bitcoin, Bitcoin Gold, Litecoin, Ethereum, Ethereum Classic, Dash, Ripple, Monero, Stellar, Cardano or Dogecoin). A lot of the pairs are forex crosses which means you can trade Bitcoin and a couple of other cryptocurrencies against USD, GBP or EUR.
As any other CFD broker, ForexTB charges a spread fee. For the most current spread charges, please visit the ForexTB.com website. The ForexTB spreads differ depending on what type of account you hold. The tightest spreads are for VIP accounts where the floating spreads can be as low as 1.8 pips on the major currency pair EUR/USD. However, this account type is only for high-volume traders, for most other traders are either the basic account or possibly also the gold account. The basic account (which is from £/€/$ 250) has a floating spread fee on popular forex pairs EUR/USD 3.2 pips, GBP/USD 3.6 pips and Crude oil $0.12.
To sum up the ForexTB Review
ForexTB adheres to strict regulatory guidelines of the CySEC (272/15). The company has great multilingual customer support and offers access to an award-winning trading platform MT4 (that can be downloaded to your PC, mobile or tablet or can be accessed in the web browser). ForexTB provides access to around 300 assets, the most interesting are the forex and crypto sections as they both feature a superior number of assets.
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