ForexTB Review [2021]

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Published: January 4th, 2021 by Andrew

Is ForexTB a scam or a reliable broker? We don’t want to go around: not only is ForexTB not a scam but it is also one of the most reliable and safe brokers available today in Europe.

Born relatively recently, it quickly established itself as one of the best online trading brokers of all time.

In addition to being really very safe and reliable from all points of view, it is also a completely free broker, which guarantees the possibility of operating without commissions and without any type of cost.

In addition, it also offers exclusive benefits to all its members, such as the possibility of receiving free signals or downloading an excellent free ebook that explains in detail how to trade online.

In this guide we explain in depth all the advantages of using ForexTB.

If you want, you can sign up for ForexTB right away by clicking here

ForexTB: how it works

ForexTB is physically located in Cyprus, precisely in Nicosia, for subsidized taxation reasons. As you may have noticed, many brokers are based on this island.

Cyprus is part of Europe and therefore has the advantage of offering the entire European market to its companies, the important thing is that they are authorized and regulated.

ForexTB is authorized by CySEC (The Cyprus Securities and Exchange Commission) with the license number 272/15 and therefore can operate legally throughout Europe.

It is an online broker and therefore to avoid scams, the first thing to consider is the license.

Intermediaries without authorization, the so-called offshore brokers, are not even to be taken into consideration, they are not required to comply with the regulations and could disappear with your money without the possibility of any legal action.

So, the security sector is in place, ForexTB is a broker that operates legally and at this point we have to examine how it works and what it offers its users.

When registering, you need to choose the type of account to open. ForexTB allows you to trade on many markets and there are no restrictions that depend on the chosen account but the more you deposit and the greater the advantages for the investor, let’s see what the benefits are.

ForexTB: Account types

As mentioned, the accounts vary according to the deposit made, the minimum deposit is 250 euros, on average with the main online Brokers its competitors and no fixed commissions are paid.

We have examined the characteristics of the different accounts and summarize them below:

  • Base: With a minimum deposit of 250 euros (up to 4,999) you have 1 trading lesson, Daily news, Trading Signals, 2 SMS notifications per day, 1 free withdrawal and an average spread for EUR / USD of 2,5 pips
  • Gold: With a deposit ranging from € 5,000 to € 9,999, you have 2 trading lessons, Daily news, 1 monthly Webinar, Trading Central, 2 SMS notifications per day, 1 free withdrawal per month and an average spread per EUR / USD of 2 pips
  • Platinum: With a deposit ranging from € 10,000 to € 49,999, you have the access to 3 advanced lessons, Daily news, 2 monthly Webinars, the Trading Central, 4 notifications via SMS per day, 3 free withdrawals per month and an average spread for EUR / USD 1.6 pips
  • Vip: With a deposit of over 50,000 euros, you can access to 5 advanced lessons, Daily news, 5 monthly Webinars, the Trading Central, 7 notifications via SMS per day, unlimited free withdrawals and an average spread for EUR / USD of 1.1 pips

forextb-accounts

Demo Account

One of the services most appreciated by traders is the availability of a free Demo account that allows you to evaluate the platform even before investing money.

ForexTB offers this Demo account to all members, just register and you can immediately negotiate, as in real life, with 100,000 virtual euros practically inexhaustible.

This type of account is very useful when you want to test the characteristics of the platform, such as the speed of execution of orders or the customization of indicators.

Before depositing money and choosing which account to open, it is always better to test the Demo account.

Access the ForexTB Demo account for free

ForexTB trading platforms

Most brokers offer a trading platform, but ForexTB realizes that the traders’ needs are very different and therefore has decided to offer two very different software but with unique features:

  • The Web Platform: Accessible from any browser and device, it allows you to negotiate without making any downloads. This platform is also available in a mobile version to operate from smartphone.
  • Meta Trader 4 (MT4): The most used platform in online trading, full of customizable indicators and tools, suitable for both beginners and more experienced traders.

metatrader platform

The Metatrader 4 is an extremely powerful software, with unique features, such as the possibility of using automatic trading algorithms and therefore, the fact that it is available with ForexTB, makes this Broker very interesting even for the most demanding traders.

Download the Metatrader 4 from this link

ForexTB: Deposits and Withdrawals

When evaluating a Broker there are always times and methods of deposits and withdrawals.

  • Deposits: ForexTB allows you to deposit money into your account by credit card, debit card, bank transfer and the main electronic wallets. The anti-money laundering regulations provide for checks on the ownership of the system used for the deposit, these checks should be carried out immediately in order to avoid unpleasant delays at the time of collection.
  • Withdrawals: Withdrawals are processed in 24 working hours and the money is subsequently sent. But the actual timing depends on the system used to withdraw. For example, credit cards and e-wallets are very fast, while wire transfers can take up to 5 working days to complete the procedure.

There is no deposit fee, whatever system is used.

The first withdrawal is always free while the subsequent ones can have commission costs (maximum 3.5%) which vary depending on the account selected.

The VIP account has all the free withdrawals.

ForexTB: Services

The services offered by Brokers are often decisive in choosing one intermediary over another.

ForexTB in fact offers for free some very precious services that other Brokers charge and therefore stands ahead of the competition.

The service that attracts most traders is what we describe in the next paragraph: the Trading Signals.

Trading Signals

Trading Signals are operational indications that many Brokers offer only for a fee. ForexTB offers them for free to all users and this shows the interest of this intermediary for its users to earn as soon as possible.

These signals come from the analysis of the Trading Central operations center, an independent company specializing in the study of markets.

When potentially profitable opportunities for traders are detected, the system sends these signals indicating the market, the title, the direction and the target of the operation.

Obviously, the user is free to use the signal or not, but it is fair to clarify, for the record, that these indications have a success rate of over 70%.

Which means that every 10 signals sent, at least 7 reach the indicated target.

Access the Trading Signals for free by clicking here

Educational Tools

You noticed that for ForexTB training and support are important, in fact by accessing the website you can take advantage of a series of services that improve operations on the markets and are all free.

The first that we mention is the Economic Calendar, often underestimated, provides the dates and times of the main events that can increase the volatility of the markets.

Usually traders prefer not to operate “on the news”, while some speculate on volatility.

Then we find the Trader’s Glossary which lists the technical terms most used in trading and which every investor must know.

At this point we move on to deepen the technical analysis and the fundamental analysis that are part of the strategies of every successful trader.

To conclude with the explanation of the Leverage and Margin. Leverage is a multiplier that allows you to trade with higher capitals than the money available in the account. While the Margin is the money needed to keep a leveraged operation open. To deepen these concepts you can access the appropriate area of ForexTB from this link.

The section dedicated to training also includes a series of specific courses to deepen all aspects of online trading, below you can see a part of it in a screenshot:

forextb educational tools

Before accessing these courses it is best to download the free trading course (in ebook format) which explains in detail the basics of trading and introduces you to the training area where you can deepen the various topics.

Click here and download the free trading course

Customer Service

Last but not least we examine the assistance service that often determines the reliability of a Broker.

ForexTB allows you to access an always available chat, where an account manager answers every question in a timely and competent way.

In addition to the chat, assistance is completed with an information request form and an email for more complex requests that cannot be managed via chat.

Is ForexTB a scam?

Answering this question is simple: NO, ForexTB is not a scam, it is a reliable, safe and regulated broker.

Furthermore, its particular characteristics and the offer of exclusive services place it at the top of the most complete Brokers available on the market in Europe.

forextb

ForexTB Opinions

The search for real opinions and reviews should always guide the choice of an online broker.

But often it is not easy to distinguish sincere opinions from bogus ones or sweetened reviews that show no defect from truly impartial ones.

We do not want to place ourselves above all, as custodians of the truth, we always try to review clearly and as impartially as possible, but much also depends on the needs of individual investors.

All brokers have negative opinions and reviews on the web, even the best ever, because opinions are subjective.

ForexTB has many positive opinions, the few negative ones we found concerned technical hitches such as slowness in verifying documents, a couple of days instead of a few hours as many expect.

It must be said that this Broker is relatively recent and the many requests are testing it, so you have to be more tolerant than the time it takes to manually verify documents.

The positive opinions boast the platform, the assistance, the training and the fabulous free Trading Signals.

So how do you know if this Broker is suitable for your trading modus?

ForexTB is serious and regulated and this we have ascertained, so you just have to test the free Demo account, there is no other way to understand if it is the right broker for you.

What are you waiting for, the Demo account is totally free and there is no risk!

Access the free Demo account by clicking here

Conclusions

ForexTB has really surprised us for the services it offers for free and for the truly rich and detailed training area.

It is a safe and complete intermediary, it allows you to trade without paying commissions in complete safety and the CySEC authorization makes it absolutely reliable.

The features that make ForexTB one of the best brokers around are:

  • The Free Metatrader 4 platform
  • The online trading course
  • Free Trading Signals

The services offered by this Broker deserve at least a more in-depth evaluation, we do not ask you to trust us blindly but to trust yourself: try the ForexTB Demo account, it’s free and allows you to evaluate the platform without taking risks.

Click here and register for free
Is ForexTB a scam or is it a reliable broker?

ForexTB is an absolutely reliable broker, registered with CySEC with license number 272/15

Does ForexTB offer a Demo account?

Yes, ForexTB offers a free and unlimited Demo account, perfect for evaluating the platform without taking risks.

Is ForexTB commission free?

Yes, ForexTB allows you to trade without paying commissions and the spreads are very low.

ForexTB offers Metatrader 4?

Yes, this Broker, in addition to the web platform also allows you to negotiate on the famous Metatrader 4.

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7 Comments
  1. Evan Fransson says

    I had a little experience of trading in the Forex market before, but I did not succeed much. The main issue was in predicting the short-term trends as I could not realize the impact of news. Not so long ago, I decided to open a demo account at ForexTB as I was interested in signals provided by Trading Central. I should say that I was surprised with the accuracy of signals, especially on hourly and four-hour charts. It is also useful to see how the automated service works with the technical analysis and compare it with the fundamental environment. The trading platform works fast, I’m considering switching to a real account.

  2. support-forextb says

    Dear Evan,
    Thanks for your positive feedback. We are continuously working on adding more features to our platform to make your experience better!

  3. support-forextb says

    Dear Evan,
    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.

  4. Ulf Wilson says

    ForexTB provides free access to trading signals powered by Trading Central. I have known this company for a while, and they provide accurate technical outlook on different timeframes. I can choose the frequency of entries thanks to the adjustable settings of the analysis tools for many currency pairs and even CFDs for metals. It’s worth keeping an eye on the news feed as the fundamental analysis also matters. However, intraday trading can offer many opportunities in terms of short-term trends on minor timeframes. The ForexTB MT terminal is the best choice of platforms.

  5. support-forextb says

    Dear Ulf,
    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.

  6. Jet Roukes says

    I have recently joined this broker. I just followed my friend’s advice. He pictured Forextb as a broker with a pretty fast execution. Once I started trading here I saw with my own eyes that my friend was right. The execution speed plays an important role in my trading because I trade very intensively throughout the day.
    Besides this, I was pleasantly surprised by your web platform. It’s very suitable for intensive trading because all financial instruments are easily reached.

  7. support-forextb says

    Dear Jet,
    Thank you for your positive feedback and for choosing us as your trusted broker! Please keep our support email support-forextb@forextb.com for future use and feel free to contact us for any queries or issues you may come across.

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