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.
I have worked with many well-known brokers and, due to my critical nature, sooner or later I felt disappointed. Before choosing a broker, I carefully studied the information, read reviews and was already going to trade with a critical attitude. And sooner or later I started looking for a new broker in the same way. Feeling that I was failing with this attitude, one day I decided to follow a different pattern and try my luck. He opened the broker list page, closed my eyes and touched my finger to the monitor. The choice fell on ForexTB. And I must say, it was a chance 🙂
I didn’t read any reviews, I immediately opened a minimum account for 250 euros and started trading. And I can say that in 2 years of trading everything suits me. Calm, stable, reliable, and this is only personal experience, without regard to the opinion of others.
Dear Martin,
Thank you for your positive feedback and for choosing us as your trusted broker!
Thanks for the interesting article. To be honest, I learned something new for myself. For example, I didn’t know that depending on the type of account I can receive lessons and webinars. I think it’s cool. It is good when you still have training in the process of trading. I believe that it is never too late to learn and you need to do it all the time to increase your skills. ForexTB is a good regulated broker and can be trusted. Now is the time that there are many scammers, but the fact that ForexTB is licensed and regulated helps us to be confident in the safety of our money. I am also very impressed by the fact that ForexTB motivates us to become professional traders, to trade more and better!
Dear Leonhard,
We are very excited to read that our services are useful for you!
Please keep our support email [email protected] for future use and feel free to contact us for any queries or issues you may come across.
ForexTB provided me with access to the financial markets through the platform called MetaTrader4 desktop. I have downloaded the software and installed it on my laptop. It works well, all of the sections are informative and adjustable. The charting tool is full of different indicators to analyse the market sentiment, find trends and entry points. The watchlist has many financial instruments including hot shares of global companies. The trading does not require a physical supply, and I can use the short-selling option of stocks even if I don’t own them.
I wonder, which additional types of analysis can I get from the ForexTB broker to increase the accuracy of my trading decisions?
Dear Jani,
Thank you for your positive feedback and for keeping us posted! Please do not hesitate to contact us to our support email [email protected] for any assistance you may need.
Thank you!
Dear Jani,
Thank you for your positive feedback and for keeping us posted! Please do not hesitate to contact us to our support email [email protected] for any assistance you may need.
Thank you!
Thanks to the author of the article for the detailed review of the broker ForexTB. At first, like many beginners, I saw a gold mine in trading and imagined myself a millionaire. I blindly traded with a 1:30 leverage and lost money a couple of times. Then I started to analyze my mistakes, read a lot of literature, built up my skills and went back to ForexTB. I have mastered the strategy on my demo account and converted to real account. As the result, I have increased my start-up deposit in 5 times in the last year. Regarding the withdrawal of funds. I withdraw all the profit I have earned from the account, there are no problems with that at all. I do not have any problems with withdrawal, even if I do not withdraw immediately to some systems, such as Neteller or Skrill.
Dear Wesley,
We are very happy to read that you are satisfied with our services. Thank you for keeping us posted and for choosing us as your trusted broker! Please do not hesitate to contact us at our support email [email protected] for any assistance you may need in a future.
With ForexTB forex broker I managed not only to learn a lot, but also to make good money. Personally, I am always amazed by those people who write reviews on brokers, accusing them of losing their deposits. Have you guys ever thought that you might be the one to blame? ForexTB has all the necessary educational materials about forex and also provides technical support if the client wishes. Listen to the advice of professionals and you’ll be happy. ForexTB is an honest and reliable broker. The broker pays without any problems. I have never had any delays in payments. There are no deposit fees on the FXTB side of the transaction. The small size of the minimum deposit of $250 is suitable for beginner traders. I made a deposit of $500 on my account, it seemed like the best way to start out.
Dear Elliot
Thank you so much for taking the time to share your experience at ForexTB. We take pride in knowing our customers are happy and satisfied with our services!
I see the main advantage of this brokerage company in its rich choice of financial instruments. It becomes especially apparent once you view the list of assets in their web platform Webtrader. This platform has a very intuitive layout and here you can conveniently view all types of assets, including stocks, indices, cryptos, currencies, etc. You know it’s much harder to cycle through assets in Metatrader because its layout is outdated and clumsy.
As for the legal side of trading with this brokerage company, everything is OK here – the broker is regulated by cySEC, a respected watchdog.
Dear Wessel
We are very happy to hear that our services are useful for you. Thank you for keeping us posted and for the positive comment!
I am a successful trader and just a rich man. Registered with three brokers, but ForexTB is my main broker. Forex market is actually the most fair business today (if you take into account all nuances, of course), and almost the only place where you can, without being a genius or just an outstanding figure in any area, earn really substantial sums of money. In this case there is one main rule – do not strive to get a super-high interest on your capital.
People gain years of experience in any field of activity before they start earning decent money.
The truth is that this activity is very serious, responsible, multifactorial; it requires from the trader exceptional diligence, patience, endurance, emotional stability, diligence, attentiveness, competence, technical computer literacy and much more.
Tell us, what maximal profit did you gain in a month trading with ForexTB?
“Dear Elias ,
thank you for the positive comment and for choosing Forextb as your trusted broker”