Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Basic information from ForexTB review
About the broker
| Web: | forextb.com |
| License: | CySec |
| Supported languages: | English, German, Polish, Spanish, Italian and Swedish |
| Year of foundation: | 2015 |
| Holder: | Forex TB Limited |
| Headquarters: | N/A |
| Methods of contacting customer support: | E-mail, phone, online chat |
| Contact: | support@forextb.com +357 22 222353 |
| Deposit methods: | Credit and Debit Cards |
| Withdrawal methods: | Credit and Debit Cards |
About trading with ForexTB
| Minimum deposit: | 250 USD |
| Min. trade: | 0.01 |
Maximum leverage: The maximum available leverage can be limited by local financial regulators or by international regulations, in such case, the displayed maximum leverage may not match the leverage you can actually trade with. For instance, in the European Union, the financial regulator ESMA restricts the maximum available leverage to 1:30 when trading major currency pairs, 1:20 when trading minor pairs and commodities and 1:2 when trading cryptocurrencies. Similar restrictions apply in Australia and possibly in other jurisdictions. | 1:400 |
| Spreads: | Look at the spread table - spread on the currency pair EUR/USD is 1.1 pips * on a standard account type |
Underlying assets: Might be a CFD. | Forex (50) |
| Base currencies: | USD, EUR, GBP |
| Mobile app: |  |
| MetaTrader 4: | |
| Social trading: |  |
Spreads & fees
Fees of most brokers change relatively often and unfortunately it is not in our possibilities to keep up-to-date information about fees at ForexTB, of course you can find current info on their website forextb.com.
Spreads at ForexTB on standard account*
| EUR/USD | GBP/USD | USD/JPY | EUR/GBP | USD/CHF | EUR/JPY |
|---|---|---|---|---|---|
| 1.1 | 1.4 |
* Spread was taken 17.09.2020 at 10:13 from the web or trading platform of ForexTB.
Random reviews of competing CFD brokers: WelTrade, EverFXGlobal, KeyToMarkets and Amana Capital
Frequently Asked Questions
🧐 Is ForexTB a scam?
We highly recommend you to read the user reviews on our website before you start trading with this brokerage company. It will help you to determine if ForexTB is a scam or not.
🆓 How to open a free demo account?
Opening a demo account with ForexTB is very simple, just register on their website.
📱 Does ForexTB offer the best mobile app for trading?
ForexTB offers a mobile trading app and you can definitely start trading with it. It is very difficult and subjective to determine if they feature the best mobile platform. However, you are welcome to test it yourself.
We compared some reputable brokers and their mobile trading apps, check out the comparison and be saved from the hassle of testing the ForexTB mobile app.
⚖️ Would you recommend me ForexTB?
ForexTB is one of tens (possibly hundreds) of brokers operating in the European Union, and that's why it makes no sense to choose ForexTB as a broker where you trade before you compare it with competitors.
We operate our website in full transparency, we recommend reliable brokers with an excellent reputation and we honestly admit to you that we receive commissions for that from these brokers. You can find the mentioned brokers in the table below with a clickable link to their site. You don't pay anything extra, you get a reliable business partner and you help us keep the website up and running. Thank you.
| Broker | English | Min. deposit | Spread EUR/USD* | Platforms | License | |
|---|---|---|---|---|---|---|
 | | 100 USD | 1.0 pips Spread was taken 12.04.2024 at 11:12 from the web or trading platform of Etoro. | In-house built platform | FCAASICCySec | etoro.comreview EUR/USD*: 1.0 pips Spread was taken 12.04.2024 at 11:12 from the web or trading platform of Etoro. |
 | | 0 | 0.9 pips Spread was taken 12.04.2024 at 11:12 from the web or trading platform of XTB. | In-house built platform | FCA CySec | xtb.comreview EUR/USD*: 0.9 pips Spread was taken 12.04.2024 at 11:12 from the web or trading platform of XTB. |
 | | 100 USD | 0.8 pips Spread was taken 12.04.2024 at 11:12 from the web or trading platform of Plus500. | In-house built CFD platform | FCAASICCySec | plus500.comreview EUR/USD*: 0.8 pips Spread was taken 12.04.2024 at 11:12 from the web or trading platform of Plus500. |
* The spread is variable for most brokers and changes depending on market volatility.
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Comparing spreads, fees, trading platforms, regulations and reading dozens of user reviews of all popular FX and CFD brokers is very time-consuming for every trader. That is why we have done all this hard work for you so you could already only start trading with a company that features a quick modern trading platform, a large variety of assets and a quick customer service. From our comparisons, all these criteria are met by Etoro 76% of retail investor accounts lose money when trading CFDs with this provider - advertising partner.
That is why it is important to choose the right one. Choosing the right broker often stands between profit and loss. Don't you know how to choose? We have prepared an independent article for you, which will help you with your broker selection. You will get to know, what factors are important to watch out for when you are choosing a forex/CFD broker.
If you have any experience with ForexTB, please share it in the comments to help others to choose the suitable broker.
It all started when I realized that I needed more money. I am a grown man and everything should be like this. So I decided to take a chance and try CFD trading.
I chose ForexTB because it is a serious conservative company that provides fair access to the open market and does not offer newbies a lot of leverage. I understood that everything depends only on me and I need to study a lot. The good thing is that ForexTB offers a demo account with virtual money, and I can hone my skills in trading without risk and look for the trading strategy that is right for me!
I also love the fact that ForexTB offers trading in all popular asset classes including currencies and cryptocurrencies. I understand that there is a certain risk here, but the profit is worth it!
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I started to trade about six years ago. For this time I have tried various trading approaches. I remember that I tried long-term trading in the first year and and found it boring. Later I realized that there was another reason. At that time I simply didn’t have enough margin to address typical challenges of long-term trading. If you have some experience in long-term trading you should understand what I mean. First, when trading in the long term, you need a good depo. I mean that it shouldn’t be small. Now I know that it can’t be smaller than $5000 if you trade currency pairs. The bigger your depo the easier it is to withstand pullbacks. Secondly, my knowledge of fundamental and technical analysis was mediocre at that time, now I know more.
So, when I failed in long-term trading, I moved to scalping. I quitted it recently. I can’t say that I didn’t reach any success in scalping but it became clear to me that I could earn in the long term more and later practice showed that I was right.
I chose this broker solely to trade in the long term. Its reliability is backed by a license. The choice of assets is impressive. It’s sad to realize that I still don’t have enough margin to trade everything I want but I work to make it come true.
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For the time that I have been in the forex market, I have had different impressions. In the beginning I was afraid. I had no experience. I did not know the brokers. But gradually I gained experience. I now trade with the ForexTB broker. Made my first withdrawals. I began to have confidence. And now I know for sure that my income depends only on me! I have long worked off my first losses in the market. Honest brokers are still there, although there are not so many of them. At the moment I have no negative feelings about forex!
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I like to trade Metatrader 4 ForexTB. This is a very fast trading software. Minimum slippage and fast opening and setting of orders. When I started trading, I realized that it matters because the price is constantly moving and every pip is worth money.
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Indices appear to be my beloved financial instruments. Earlier I was used to trading major as well as minor currency pairs, but then I realized that they weren’t the assets most suitable for trading. Indices are much better for me. What I like best abut this broker is that it offers a lot of indices, much more than an average broker.
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Dear Johnny
Thank you for your positive review. We are glad to hear that indices offered on Forextb are useful for our clients
ForexTB was not a well-known company to me. So I decided to open an account here. It’s simple. I didn’t want to open an account with companies about which they constantly and everywhere write. I am our this broker on one of the forums and checked the registration. Everything was in order with the legality of the broker and therefore I opened a demo account to test the trading platform. There is a WebTrader and the popular Metatrader 4. I started with WebTrader. This seemed reasonable to me because it is a good trading software for novice traders.
If I talk about trading instruments, then there is a very large number of assets. I like the fact that there is cryptocurrency. This is very relevant in our time, besides, this topic is interesting to me and I was looking for a broker who would allow trading these CFD.
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Dear Jaime
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!
I’ve been looking at ForexTB broker for a long time. I could not decide on the deposit, I ended up investing $250. Who knows, like when I read reviews about ForexTB, I got a good opinion and chose ForexTB, because there is a regulator, the less I risk, the better. Especially if they give such conditions. As long as the test period, I think so. The biggest plus for me is that it is a regulated broker: it will not run away with my money if something happens, will not throw in non-market quotes. The trading conditions are plus or minus the usual, I do not see the point in focusing on them. I have not made a withdrawal yet.
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I was recently overwhelmed with trading majors, metals as well as other traditional financial instruments, but the more I traded them the more I felt disappointed. It all became too unpredictable. So, I decided to move to cryptos. The broker I chose has a very good choice of cryptos. These are assets that suit me more. I believe in their glorious future.
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Dear Fabian
thank you for taking the time to leave us a review and choosing us as your trusted broker
A very honest and truly legal broker. ForexTB is regulated by CySEC and licensed. There is a professional software Metatrader that ensures fair and fast execution of my orders.
I recently withdrawn my money for the first time. There were no problems and I am very happy about it. In fact, I was very worried)
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Dear Giorgio Serra
We are glad to receive such a positive review. It’s great to hear that you’re satisfied with our services. We appreciate the time you took to write this review. Thank you!
I guess that’s a rare type of brokers. I can explain this. As a rule, brokers try to cater to all brokers, but this one is specific. It feels like it doesn’t welcome scalpers. I don’t complain about it. I just point out to this fact. I trade in the long term and respectively don’t need tight spreads. I’m not afraid of widening spreads because I know for sure that if I forecast the market correctly, I enter it at the right time and place and an inevitable initial drawdown that occurs at the time of opening a trade vanishes soon.
There’s another thing, which is more crucial about any brokers. That’s regulation. If a broker has a license, it can’t be a scam. This broker is regulated by cySEC and it’s a good thing. Once I learned about this I made a decision to trade with the broker.
I opened a Basic account here and trade on MT mainly relying on my self-made indicators. The execution here absolutely corresponds to what I expect from a regulated broker.
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Tell me, is ForexTB licensed to officially work as a Forex broker?
Yes, it’s licensed. It’s regulated by cySEC.
ForexTB is a classic brokerage company model.
For some people it’s not impressive anymore, but for me it’s something I really need, I personally feel comfortable here because here I can always implement my plan for the month.
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Dear Felipe,
Thank you for your positive feedback and for choosing us as your trusted broker!
I joined ForexTB broker with another trader I know, and this is my first forex broker. ForexTB broker support team helped me with funding and depositing as I was stuck with my card and couldn’t do everything myself for some reason. I invested $300 and am now trading mostly on major currency pairs, I have earned a little bit in 2 weeks already. I haven’t withdrawn any money yet, but I will try to do that in a few weeks and if there are any problems.
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Dear Dario,
We are very excited to read that our services are useful for you and that our support team is always next to our clients! Thank you for choosing us as your trusted broker!
I have good impressions from cooperation with ForexTB. I use mobile app to control the situation, and I execute orders through the desktop version of Metatrader. In fact, this platform has a lot of advantages: low entry threshold into the market, excellent analytics and support, a lot of educational material including economic and technical analysis and a very convenient website. I did not have any problems with the withdrawal of money, there are many ways, for me it is more convenient to withdraw to my card.
Naturally, at first the broker asked me for documents (for licensed brokers it is obligatory), but then there were no more questions.
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Dear Lubosh,
Thank you for your positive feedback.
I never thought that I would become a trader. This could not happen to me because I am not lucky.
One day I realized that luck does not exist and I decided to challenge myself. I told myself that I would become a professional Forex trader.
After reading and watching the video for a week, I opened a ForexTB broker demo account. I’ve been trading for the third week and like everything. There are many assets to trade here. I think it’s time to open a real ForexTB account.
Tell me how much money do I need for a normal start?
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Dear Shtephan
Thanks so much for giving us your take on how we are doing. We’re glad that customers like you are having a great trading experience at Forextb
Yes, you really shouldn’t procrastinate with trading on a demo account. At one time I made such mistake, I was trading on demo account for half a year and every time I found a reason not to switch to real account. Although it only takes $250 to start real trading with ForexTB broker. That’s exactly the answer to your question. But I would advise you to start with at least $500 because as a beginner you will make a lot of mistakes in the beginning. Not even technical mistakes, but mistakes related to the first excitement of trading on a real account.
One of the few brokers providing good technical support at all levels.
Firstly, the site is available in many languages of the world. This in itself is good, because even in Europe there are many immigrants who still do not know the language well.
Technical support also responds to requests promptly. You don’t have to wait for the operator for half a day.
One thing is that the minimum deposit starts from 250 euros. Also, when withdrawing, there is a commission, starting from the second deal (this is for the basic type of account).
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Dear Alen
Thanks for your positive feedback. We are continuously working on adding more features to our platform to make your experience better!
You should work with ForexTB only because they offer very decent, and most importantly affordable conditions for CFD trading. First of all, you can start with a small amount available because the minimum deposit is only $250. It is clear that if you start with small deposit you will not get anything good, but the possibility is nice. I started on this account with $1000. For the second, the spread is not very low, but acceptable, the commission is reasonable. They do not have any special features among more or less decent brokers. I don’t have any complaints to ForexTB about it either.
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Not so long ago I opened an account and started trading. I started to open deals with the very minimum lot 0.01, over time I increased the lot. I can say for sure that there are no slippages. The technical support is quite prompt and very polite. I have already withdrawn a decent amount of money, everything went very quickly and easily.
Considering the fact that the company is young, it works for traders, and this is very beneficial for us in terms of earning money. My opinion is that they work great.
I never thought that I would make money on Forex. And now I can’t imagine how I lived without it. In addition to making money, it is also exciting. Recently they called from the ForexTB company and asked about the service and the choice of the quotation system. And they decided to improve their conditions, and asked for my opinion.
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Dear Mardok,
Thank you for taking the time to leave us this positive review. We appreciate you sharing your experience with us and hope that you continue enjoying trading with ForexTB. Thank you for choosing us as your trusted broker!
That’s probably the first broker who persuaded me to shift to web trading. I mean that I gave up Metatraders and moved to their Webtrader. However, earlier I tried several web platforms with other brokers, but Webtrader exceeded my expectations. As for the broker’s advantages that don’t have to do with its platform, I can point to fast execution. It’s important for me because I don’t want to pause when entering the market.
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Dear Karol,
Thank you for your positive feedback and for keeping us posted!
ForexTB seemed complicated for me at first because I am new to Forex and do not understand everything. But there was a lot of training and a lot of interesting information on the website. Of course, the ForexTB demo account helped too. I could probably have traded better, if the trading platform was more comprehensive. You see, I just found out yesterday that it’s possible to trade with MT4.
As for the rest, it’s a good broker. I’ve never seen such a great brokerage firm before in my life. Maybe soon I will trade currency pairs.
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Dear Bruno,
Thank you for your positive feedback! We are always trying to improve our platforms and add more tools to make your experience better!
A wonderful company in which it is interesting to work and learn something new for yourself.
As prescribed by the terms of trade and withdrawal of money from the account, they are followed. It turns out there are no brakes with either order execution or money withdrawal. In fact, the conditions are average, there are worse and better conditions on the market, but for the fact that they are strictly observed, I appreciate ForexTB and work with them. It’s better to trade with ForexTB calmly and not worry about execution and withdrawal.
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Dear Peetu,
Thank you for your nice and explanatory review. We appreciate it!
The level of trust in the broker must be 100%. My level became 100% only after my ForexTB broker withdrew 1000 dollars to my card. I made it in less than a week. My deposit was $ 3,000. I understand that for many this is a lot. By the way, the minimum deposit here is $ 250. This is the chance that ForexTB gives novice traders to start trading Forex! Why did I deposit $ 3000 ?? because I wanted to make good money right away! And I get it!)))
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Dear Lee,
Thank you for sharing your positive trading experience with us!
I started trading currency pairs, most of my deals are focused on major currencies like Euro, USD, British Pound and Japanese yen. Predicting them is not so complicated, especially after reading news and analysis in the Buzz feed by ForexTB. I can see that equities and stock indices are much more volatile. Can someone provide me with pros and cons of trading stocks?
When trading stocks, you’d face a higher volatility as the equity market is vulnerable to sudden rallies and sell-offs. However, that might be even an advantage as higher volatility means larger profits. The research process is not so complicated thanks to the special app for news and fundamental analysis provided by ForexTB for its clients. I’d consider following general long-term trends and apply the buy-dip trading method. Technical analysis will help you in that.
I can’t say bad words about this brokerage company. For three months of trading with this broker I didn’t notice anything that could make me consider moving to another broker. But it’s hard to expect the opposite with cySEC regulation, but I learned about this fact a bit later. So, I occasionally chose a regulated brokerage service. Sometimes miracles come to our lives. But I could stumble on a scam.
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Dear Engard,
Thank you for your positive feedback about our platform!
“My opinion about ForexTB
—
There are three main things I like about ForexTB. The first is the regulation. I pay a lot of attention to this. And it is important to me that the companies are regulated by CySEC.
The second is the ability to make payments using different methods. And the company claims an exceptionally high level of security and protection. In a world where every second has become a hacker, this is important.
And the third thing I like about ForexTB is the large number of assets. There is always something to trade with. And this is very important in the volatile market.
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Dear Gero,
Thanks for your positive feedback. We are continuously working on adding more features to our platform to make your experience better!
I and my friend discovered this broker together. Now we trade together with this broker. For this purpose, we opened a Webtrader account. Of course, I should explain what I mean by saying we “trade together.” So, it was me who opened a trading account here. I physically open and close trades on Webtrader. But I rarely determine the market direction on my own. We discuss it in Skype and then after we make a joint decision I open a trade and hold as long as it was negotiated. Then if we manage to earn something for a certain profit, I make a withdrawal and then we share our earnings. I like to trade this way because two heads are better than one.
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Dear Nguyen,
Thank you for your positive feedback and for choosing us as your trusted broker!
The company pays a lot of attention to analytics for clients. It is the broker’s main advantage. And this is something that really saves time for trading. I just compare it to the time when my mornings started with an hours-long market analysis.
I’ve opened several news sites, looked at the charts, tried to draw key levels on them. Then I’d go to the traders’ chat room and check out their opinions. It took a lot of time. And the trading results were not very satisfying.
Now I have market reviews based on both technical and fundamental analysis. ForexTB is all right with that.
The only thing that upsets me is that I wish there was more education.
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I know that ForexTB has no education for beginners, which often becomes a problem …. tell me, how do you trade? Long term or short term?
I am scalping here, as the broker’s conditions allow for trades of less than a minute.
Scalping requires extra-tight spreads, which ForexTB can’t boast unfortunately. A lot depends on executions too with scalping. On this side the broker is excellent in my opionion. Personally I prefer stock trading and sure enough I trade them long-term.
Dear Dominik,
Thank you for your positive feedback! We are very happy that our tools are helpful and we are always trying to improve our platforms and add more tools.
I heard a lot about them as a reliable broker, but I didn’t have enough time to get started. I only took that opportunity this week.
I remember my first positive impression about this broker. I was impressed by its Webtrader. It also provided Metatrader 4, but I already know that platform. But Webplatform intrigued me.
First, it’s very intuitive. Secondly, I find its functionality sufficient for deep market analysis. Afterall, traders never use the whole range of technical indicators to analyze charts. As a rule, it’s enough to use several ones. Webtrader offers more than enough technical indicators. What’s more, you can try this platform online without registration.
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Dear Stephan,
Thank you for your honest feedback and for taking the time to submit your review!
Trading Central is powerfull tool and it can boost your trading performance quite high, for example my performance went up from 3.3% per month to 5.4%. All you need is trade and follow signals and analyst views, for example I find economic insights extremely usefull, especially if you can’t keep marketing event on the track. The only disadvantage that I see is that there’s no MT5, but I can tolerate with that, MT4 is also okey.
I used to be a scalper and I used different brokerage service for this purpose. Scalping is exhausting as you might know already. I felt like a beaten squirrel after 6 months of scalping day after day. What’s worst, I realized that spreads and commissions where taking away the major part of my earnings. I quit scalping and went back to office.
However, at the same time I’ve opened a new account with ForexTB with the investment purposes (my old brokerage didn’t have any stocks available). Now I only look at charts once a day and the results are the same as when I was sweating in a scalping mode. Moderna and Tesla are my favorites for now, but you know, things change.
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Dear Oslo,
Thank you for your positive feedback! We are very happy that our tools are helpful and we are always trying to improve our platforms and add more tools.