FXTB briefly

The website www.forextb.com/eu is operated by Forex TB Limited, whose trade name is FXTB. Forex TB Limited is a Cyprus Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). Customers can trade through the world’s most popular trading terminal – MetaTrader 4 (MT4). In addition, a company’s own terminal is also available.

The company is registered and headquartered in Nicosia, Cyprus. Customers can trade forex, commodities, shares, indices, and cryptocurrencies. They have access to plenty of technical analysis tools and free educational resources to help improve trading. Opening a real account requires a minimum deposit of EUR250.

Regulation

When you choose a broker for online trading, regulatory fulfillment shows how reliable the company is. Forex TB Limited, a Cyprus Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 272/15. Forex TB Limited is registered at 45A Kratinou Street, 2040 Strovolos, Nicosia, Cyprus, the website says.

Account Types

There are two main types of accounts that traders open with FXTB:

Demo Account – this free account includes 100,000 virtual money of your registered currency. The demo account allows you to test your strategies with virtual money before getting ready to start trading with real money on your Live account.

Live/Real Account – there are four types of real accounts available and you can choose the one that suits your trading strategy.

The Basic account requires a minimum deposit of USD250 or equivalent and the minimum spread for the EUR/USD starts from 2.8 pips. You receive 1 basic lesson, daily news, trading central and 1 free withdrawal.

You must invest at least USD25,000 to open a Gold account. In return, you receive a spread for the EUR/USD pair starting from 2.5 pips.  You receive 2 basic lessons, 1 monthly webinar, daily news and 1 monthly free withdrawal.

The Platinum account requires at least USD100,000 to open. The spread of the EUR/USD pair will start from 1.9 pips. You receive 3 advanced lessons, 2 monthly webinars, daily news and 3 monthly free withdrawals.

You must invest at least USD250,000 to open a VIP account. In return you will receive 5 advanced lessons, 5 monthly webinars, daily news, trader central and withdrawals without fees.

Keep in mind that all profits and losses here are real.

Market Maker or STP Broker?

In the Order Execution Policy document on the website it is written that Forex TB Limited does not execute client orders in financial instruments on an own account basis, as principal to principal against the client. The company uses third party financial institutions as the execution venue. The execution venue currently used by the company is KTRADE (PTY) Limited. This means that Forex TB Limited uses the Straight Through Processing (STP) model to execute client orders and there is no conflict of interest as there is if the company is a market maker.

There is a warning message that slippage may occur when trading CFDs. This is the situation when at the time that an order is presented for execution, the specific price is not available; therefore, the order will be executed close to or a number of pips away from the client’s requested price – at the first available market price. Slippage is the difference between the expected price in the client’s order and the price the order is fulfilled at.

Slippage may appear in all types of accounts and orders. This means that the company does not guarantee the execution of the client’s order at the price specified. It will be executed at the next available market price.

The Client Agreement document states that the company guarantees “Negative Balance Protection” for the client. This means that Forex TB Limited ensures that losses will never exceed the total balance held in the client’s trading account. If there are any sub-accounts and one of them falls into negative equity, the company reserves the right to transfer funds from one of other sub-accounts to cover the deficit.

Fees

Be aware of the company fees, stated in the legal section of the website. There is a withdrawal fee and it is 3.5% if you deposit by credit/debit card or USD30 if you deposit by bank transfer. If there is insignificant (one single position) or no trading activity, a withdrawal fee of EUR80 will be applied. In addition, there is an inactivity fee and if there is no activity in your account for more than one month, a monthly inactivity fee of EUR80 may be applied. Of course, there are common fees such as spread, swap and rollover.

Deposits and Withdrawals

Forex TB Limited usually processes deposits and withdrawals within one business day. Customers can use several deposit methods such as bank transfers, credit/debit cards, and electronic payments such as e-Wallets. The minimum first deposit depends on the account you have and starts at USD250 to USD250,000. There is no minimum amount for withdrawals made to credit cards, Skrill or Neteller. However, there is a minimum limit of EUR100 or USD120 for withdrawals made by wire transfer. In addition, there may be withdrawal fees depending on the account type.

Trading Platforms

The MetaTrader 4 (MT4) platform allows you to trade on different devices (desktop or mobile), providing you with market access even if you have only your smartphone with you. It offers traders three separate chart types, over fifty technical indicators, and you can personally customize it. You can monitor the market closely and have a better decision of when to open positions. There is also a company’s own trading platform entitled ForexTB, which is web-based.

Assets

FXTB offers over 300 of the most traded financial assets.

Forex – Nearly 50 popular major, minor, and exotic currency pairs can be traded. The spread for the majors depends on the account type and can be as low as 1.4 pips.

Indices – You can trade 21 of the most popular major and minor indices globally, such as DJIA, US500, FTSE, IBEX 35 etc. Trading is commission free.

Commodities – 23 of the most traded commodities are available such as Gold, Oil, Platinum and Silver, as well as cereals and dairy products. You can trade them commission free.

Shares – You can trade over 200 various shares from all popular markets globally, such as USA, UK, EU, Russia, Canada etc.

Cryptocurrencies – over 40 of most traded cryptocurrencies such as Bitcoin, Litecoin, Ethereum etc.

Education

There is a dedicated educational section on the web page, which contains plenty of stuff such as articles and videos, glossary, technical analysis, fundamental analysis, economic calendar, and marker news.

Summary

Forex TB Limited has a CySEC regulation, which allows it to provide financial services across European Union. It is a pure STP brokerage company, which provides a wide range of trading instruments via the most popular trading terminal MT4 and its own web-based platform. There are 4 different types of accounts but even if you invest USD250,000 the spread of the EUR/USD pair will not be lower than 1.4 pips, which is a relatively high value. Deposits and withdrawals are processed within one business day but be aware of the fees.

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