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ForexTB Review 2021: Should I Risk Trading With Them?

Jan 28, 2021 , ,

ForexTB, also stylized as FXTB, is one of the brokers under the wing of the company Forex TB Ltd. The company also includes the broker PatronFX. In order to continue operations from their headquarters in Cyprus, the broker has a current license with the regulator there, CySEC. This license gives the broker extended passporting rights to offer services to other European Union nations.

Trading With ForexTB

Much like the other broker in their family, PatronFX, ForexTB has somewhat decent trading offerings. The broker has over 250 assets available in total, between both forex and CFDs. Correspondingly to ESMA regulations, the broker offers maximum leverage of 1:30. Their spreads reach as low as 1.1 pips for traders with their VIP account.

ForexTB Review 2021

Trading Platforms

In addition to the tried and true MetaTrader 4, the broker also offers an in-house platform that they call xStation. Their platform is available in both browser and mobile app form. Our ForexTB review found the platform to be passable, but ultimately it lacks the many features that make MetaTrader 4 the first choice for most traders.

Trading Accounts

The broker has four different account types, Basic, Gold, Platinum, and VIP. The main benefit of choosing a higher account is reduced spreads. Furthermore, there are additional educational resources and market signals for higher accounts. A Basic account requires a $250 deposit, while a VIP account requires a shocking $250,000. Most traders would consider the VIP account’s “seven SMS notifications per day” not entirely worth it.

Get Your Money Back Earlier

Choosing a registered broker is the first step in the right direction, but there’s still a long way to go. Even when traders do carefully vet brokers before investing, they could still unfairly lose their funds. You can contact us when this happens to you to get your money back sooner.