ForexTB Review

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4.5/5
No deposit fees.
CYSEC Regulated
Simple Set Up
OPEN ACCOUNT *Risk is involved with all trading actions
Pros
  • Get access to the broker on any device. For Bitcoin Era, all you need is a smartphone
  • Official regulation by a government agency- the Cyprus Securities and Exchange Commission
  • Set up a demo account before beginning your live account
  • Trade CFDs on Forex, stock, and commodities like gold, silver, and crude oil
  • It works well with Bitcoin Era
  • Various educational resources that can help you better your understanding to make more informed trading decisions.
  • Multiple account types to choose from with varying prices that work for any budget. Multiple account types to choose from with varying prices that work for any budget.
  • No deposit fees.
  • Specific features that are tailored to professional clients
Cons
  • There are withdrawal fees that vary based on your account type.
  • There are charges for keeping your account inactive. If there is no activity conducted on your account for over one month, ForexTB can still charge you for their services.
  • There is always an unknown risk when it comes to trading through CFDs. ForexTB provides helpful tools but does not offer full-proof plans for success.

An Analysis and Inspection for Quality Trading

ForexTB is a trading broker centralized in Cyprus. It mainly caters to traders in the European economic sphere and adheres to GDPR rules and regulations.

By using ForexTB, you can get access to trading CFDs on many financial assets. From Forex to commodities to stocks, you can invest and trade your money for economic success.

In this review, we cover the basics of ForexTB, and its many features.

What Is ForexTB?

ForexTB is a broker that sells over 270 available assets, allowing you to trade CFDs on Forex, stocks, and commodities. It is owned by Forex TB Limited, an investment firm located in Cyprus.

ForexTB allows you to get into the CFD trading game. The broker has an upfront cost with four different kinds of memberships, there are additional charges that tack on as you continue trading.

ForexTB works with the auto-trader platform Bitcoin Era. Fortunately, if you are new to the trading scene, this third-party platform gives you access to ForexTB along with assistance in executing trades and making decisions.

Regulations

As the firm that owns and operates ForexTB headquarters in Cyprus, the platform is regulated by the Cyprus Securities and Exchange Commission. This is a legit government agency that conducts financial regulation in this EU member country.

Where to Properly Sign Up

Going to the ForexTB website guides you through the steps of creating an account and getting started with your deposits. The site also provides educational information about basic trading and conducting different trades. This is more directed towards inexperienced traders.

Though the broker website gives you plenty of knowledge before you start trading. Especially for first-time traders, this platform gives you excellent information on your trades and even does some of the work for you. Likewise, it is not just for first-timers. Bitcoin Era is also great for more experienced traders. You can expand your knowledge of the market trading game and learn new trends.

Overall, it is easy to go to the main ForexTB website to get started trading their CFDs. However, Bitcoin Era makes it much easier to navigate and learn.

How to Properly Sign Up

The sign-up process for Bitcoin Era, or any other trading platform, is straightforward. There are three steps to start:

Register

The most critical step is creating an account. To do this, simply go to the main website for the trading platform. Click here to go to their main page. There, the website has a registration bar on the side. It is here that you enter your details: name, email, phone number, and password.

Deposit

Once you set up your account, the next step is to deposit money so that you can start trading. After completing your registration, you are taken to the website for ForexTB. Here, you have different options to deposit money. Do what makes you feel the most comfortable.

Trade

After creating an account and adding money, you can begin trading. Once putting cash into the ForexTB system, you are taken back to the trading bot’s page. At this point, you can set the parameters and go into auto-trader. However, you can keep things natural and stay in manual mode.

Why Trade with Platforms?

Trading with platforms like Bitcoin Era gives you access to automatic trading features. Trading CFDs can be a time-consuming task.

By utilizing Bitcoin Era, you can use ForexTB with the third-party’s automatic trading feature. You can set the parameters of when to trade, buy, and sell so that you are not waiting for things to happen.

Learn How The Platform Works

The auto-trading platforms like Bitcoin Era do not charge you extra for using its services. For this, Bitcoin Era is a great way to interact with ForexTB. The platform can give you suggestions on your trading decisions.

Account Types

When you sign up for ForexTB, you have four account options. These include Basic, Gold, Platinum, and VIP- all with varying features and pricing.

The more expensive the account, the more features offered. On the ForexTB website, the prices are conducted with the Euro. Though you can use ForexTB in other countries, the company is in Cyprus, so they do the most business with the Euro.

Each account type has its own specific characteristics. They all include a particular value of PIP for different currency exchanges. They also include educational lessons. The more expensive signifies the more advanced lessons. There is access to daily news, daily SMS alerts, and a specific number of free withdrawals.

Of course, the more you pay, the more access you get to the various offerings. If you have more experience in trading CFDs, then the more advanced accounts are probably better suited for you.

Education

The main website gives all traders access to essential information and knowledge about CFDs, finances, and trading. ForexTB does a great job of giving its users the tools needed to reach their potential. There are pages on the website that explain Forex, commodities, CFDs, and more.

They talk about analysis, leverage and margin, and market news. Trading CFDs is a risky game that requires the proper knowledge and understanding of the market. ForexTB gives all users access to their trading wisdom. With a registered account, you can get access to webinars and lessons to further your understanding. Be warned, though, as ForexTB clearly states they are not a financial advisor.

If you find that you realized losses due to their educational platform, you cannot blame them for your economic damage. If you are still unsure, then ForexTB allows doubtful traders to set up a demo account. With this, you can experience what it’s like to trade CFDs through ForexTB.

The platform provides you with virtual money that you can use to test strategies and build your understanding of the market. Financial trading is not something that comes overnight. Acquiring the right information and practice all can lead to a better trading journey. Although ForexTB offers a demo account before going live, trading with automatic platforms is better. Not only do they help explain the ins and outs, but they also carry out the trades for inexperienced traders. Gaining experience can help you learn.

Is the ForexTB Broker Legit or Not?

ForexTB is indeed a legitimate operation. Since the Cyprus Securities and Exchange Commission regulates it, we do not doubt that ForexTB is an official operation.

Forex TB Limited, who owns and operates ForexTB, is officially authorized and regulated by the Cyprus Securities and Exchange Commission. Their official website even provides its CIF license number: 272/15. The company is registered at 45A Kratinou Street, 2040 Strovolos, Nicosia, Cyprus.

ForexTB also follows all the EU data protection laws that adhere to the GDPR. The General Data Protection Regulation (GDPR) is an EU establishment that regulates data protection within the economic sphere. As a result, you have a right to access, erasure, data portability, rectification, and restrict or refuse processing.

Along with their official registrations, ForexTB offers several resources for their users before they begin trading. The Education tab on the website gives proper definition and necessary explanations of terms and analysis. Additionally, there is access to creating a demo account before going live.

Conclusion

There is no doubt that ForexTB is a real platform that you can trust with your money. Like a lot of things in life though, whether or not a platform is a good option for you depends on your needs and what you like or don’t like.

It’s a great advantage to be able to trade a wide variety of assets under one roof. That way you won’t have to learn how to use multiple platforms to be able to diversify your portfolio. This certainly allows the user to have more control over their assets.

Their unique trading platform can be a challenge for folks who are used to trading with MetaTrader. The fact though, that ForexTB offers a demo version of their platform can help with that. Another thing that could help would be to make a heftier initial investment. That way all of the educational content will be automatically unlocked. It wouldn’t make too much sense to go with the minimal investment on the platform and then having to end up buying external educational content. If the money is invested in the platform it’s not money that is lost. On the contrary, it can be used to buy all of the assets that we talked about!

Risk Disclaimer

TrustPedia is a financial portal-based research agency. We do our utmost best to offer reliable and unbiased information about crypto, finance, trading and stocks. However, we do not offer financial advice and users should always carry out their own research.

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