ForexTB is a relatively new European CFD broker, that started accepting investors in May 2020.
Owned and operated by Forex TB Ltd, located at: 5 Alkaiou Street, Pelekanos Court No 16, Office 301, Engomi, CY-2404 Nicosia, Cyprus. Phone number in Cyprus is: +35722266707. Customer support email address is: [email protected] Official Website is: https://www.forextb.com/.
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ForexTB Broker Review
Our review of the new broker ForexTB finds that they offer Forex and Crypto CFD trading, on a unique trading platform. The trading app which they are using is from Scipio. Professional forex traders will be happy to see that they also offer you the MT4 (Meta Trader 4) software, which can be used with an Expert Advisor addon.
You can trade hundreds of underlying assets including; Major Forex Pairs, Minor Currencies, Crypto, Stocks, and Market Indexes. When trading contracts for difference, you are investing with added leverage, of usually 1:30. The appeal is that you can make large profits quickly, but at the same time the risk is much greater.
Many new investors begin their trading career with the brokers at ForexTB, because of their free demo account and easy to use trading platform.
ForexTB Account Types
All brokers offer you a choice of account types, and at ForexTB you have four options to choose from. The minimum deposit for their Basic account is $250. The larger accounts offer tighter spreads, but for most people, the basic account works.
When you signup for a new account, you will be able to create a login password. You will also receive an email from them with separate login details for your MT4 trading account. Make sure you store them in a safe place so you don’t forget it.
Automated Trading Apps
Thousands of newbie investors got scammed by a trading robot they found on a Fake News website. You can read about the complaints in the investors forum.
ForexTB offers their clients an automated trading software, that is integrated into their Forex trading platform. The auto-trader is also known as an Expert Advisor, which is commonly used by professional investors on MetaTrader4.
Is ForexTB a Legit Broker?
How do you verify that a Forex broker is legitimate, and not another online investing scam? You must check with your countries financial regulatory agency, that the broker has a license.
ForexTB is regulated in Europe by the Cyprus Securities and Exchange Commission (CySEC) with license number 272/15.
All online brokers, whether they are offering Crypto or Forex CFD’s, are required by law to have a license. If your broker is not licensed, then they are an illegal scam. Always confirm that your broker is 100% authorized by the financial regulator.