ForexTB Trading Platform – Review, Top Features, Set-up Process, Benefits & more
Last Updated Date: Aug 31, 2023Check out everything about ForexTB Trading Platform here. ForexTB is a Cyprus-based brokerage company. It offers online trading through Contract for Differences (CFD).
Founded by Pawel Polatynski, ForexTB came into existence in 2005. There are roughly 100 to 200 employees in the company.
Also known as FXTB, the company derives profits from its clients. It does this through online trading and the MetaTrader 4 (MT4) platform.
The Cyprus Securities and Exchange Commission (CySEC) regulates it. The broker firm accepts clients from 30 countries around the world.
ForexTB is a straight-through processing broker. People trading on their website does not have to worry about any commissions for CFD traders.
CySEC has authorized the company to provide trading services to clients. Only people based in the European Economic Area (EEA) and Switzerland can trade on ForexTB.
About ForexTB Trading Platform
ForexTB offers four different types of accounts to its users.
There is a small required funding amount of EUR 250. There is also no minimum threshold for withdrawal of funds. Users can fund their accounts with various methods.
This includes credit/debit cards, Skrill, Neteller, Ideal, Trustly, Sofort, and wire transfers. ForexTB provides two trading platforms to clients.
Their own trading platform is a proprietary system.
The design allows for web-based trading. The second one is the industry standard trading platform – the MetaTrader 4 (MT4).
ForexTB’s online trading platform offers four different types of accounts.
Each of these accounts gets customized for traders. The leverage rates are the same for all the accounts.
Yet, there is a difference between retail and professional accounts. All the funds get stored in separate accounts.
They are also insured to assure the safety of funds. The broker also becomes a member of the Investor Compensation Fund. This further adds another layer of protection.
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ForexTB Trading Platform – Top Features
Let’s look at the web-based trader from ForexTB. The web-based platform from ForexTB is accessible from the company’s website.
The web trading platform interface is clean and easy to navigate, even for newbies to trading.
It offers the following:
- One-click trading
- A good selection of indicators
- Six different types of charts.
It is also possible for users to use various graphing tools. This allows traders to overlay them on one another to get a better analysis of the market condition.
One of the drawbacks is that there is lesser customization available.
This is an intuitive interface, and it meets the needs of most experienced and new traders.
Some of the other features of their online trading platform include:
Access to analyst views:
You get access to all the latest research from senior analysts. Automated algorithms also come in handy.
Daily analysis of markets:
You remain updated on what’s happening across markets. This happens with the daily market update feature.
These get designed by researchers with various time-tested indicators. It helps all types of traders, be it long-term traders or intraday traders.
Provides power economic insight:
ForexTB uses tools to predict and track the markets. Acting upon these marketing strategies and events can profit traders.
Get market ideas:
You can view many bullish and bearish investment ideas on the platform.
They get designed by both technical analyses combined with time-tested strategies.
Strategic newsletters:
You will get periodic newsletters to help with new trade ideas. The latest market news will help you design your trading strategy.
Now let us look at the features of the MetaTrader 4 trading platform offered by ForexTB.
MetaTrader 4 offered by ForexTB is one of the most popular trading platforms in the world.
It gives you all that you need for trading online, and it brings everything under one interface.
MT4 is a powerful combination of trading and analytical technologies and tools.
This helps traders put in place many complex technical trading strategies.
Some of the features of MT4 include:
- The platform uses an order-based system. This allows traders to have a variety of positions for one symbol. This also includes the directed ones.
- You can set the Protective Stop Loss and Take Profit levels for every open order. These levels get applied to any open order.
A separate swap gets charged for every open order, depending on direction and volume.
- MT4 platform provides vast analytical opportunities. You see every symbol displayed in nine time frames. This helps traders witness the price dynamics in detail.
- The website has 30 built-in technical indicators. It also has 24 graphic objects available to analyze the price dynamics.
How to set up a ForexTB Trading Terminal?
The process of setting up the trading platform at ForexTB is very simple. Since it is a website, there is no need to install anything.
You can perform all your trading from their website. To load the website, you can use any updated web browser.
This can include Google Chrome, Mozilla Firefox, Microsoft Edge, etc. To open the ForexTB website on your computer, follow these steps: –
Open the selected web browser available on your desktop or laptop and visit the official website of ForexTB.
These are the steps required to open the ForexTB website on your mobile device or PC. To access all the features of the website, you should make an account at the ForexTB Web Trading platform.
There is a mobile version of the ForexTB Trading online Platform. The app can operate on both iOS and Android-powered mobiles or tablets.
It allows push notifications to make sure that no trading opportunity is missed. The mobile platform can do the following:
- Open and close positions
- Analyze charts
- Follow the prices of all your tradable assets.
The process of creating an account with ForexTB follows in the next section.
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How to Use ForexTB Web Trading Platform?
The best part about the ForexTB trading platform is that it offers a free demo account. This account lets traders explore new strategies.
They can also try out the two available trading platforms. Even the demo account comes loaded with $100,000 of simulated money.
This simulated amount becomes available once you open your account.
Due to the availability of this simulated money, there is no risk to your capital as well.
Here are the steps of opening an account with ForexTB.
- Go to the ForexTB official website.
- Take your mouse cursor to the Account tab, and click on Account Types. The page that opens up will give you all the details of the four account types – Basic, Gold, Platinum, and VIP.
- Once you select the Account Type, you will get the option of creating an account with ForexTB.
- You can then select if you want to opt for the free demo account or select a paid version.
- Only people living in the EEA region and Switzerland can sign up to trade with ForexTB.
Advantages of ForexTB MetaTrader 5
ForexTB is one of the many trading platforms out there, so what makes the ForexTB website so unique? Now, we are going to discuss the various advantages of the ForexTB website.
Some of the key advantages of the ForexTB MetaTrader 5 are as follows:
- The FXTB platform lets you trade with zero percent trading commissions.
- You get 24/5 dedicated customer support.
- The ForexTB online trading platform gives free market analysis and trading tools.
- A free demo account with simulated money lets you practice trading. This is even before you decide to spend money on a paid account.
- The online trading terminal gives competitive spreads.
- There are no fees that you have to pay on deposits.
- You also get a dedicated account manager.
- You get access to the famous MT4 trading platform.
- There is a dedicated mobile app as well.
- The platform gets regulated by the CySEC, thus adding an extra step of safety for traders.
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ForexTB Trading Platform – Conclusion
This platform is famous for its web-based platforms, tradable assets, and mobile app.
The website has got many positive customer reviews. Most of these reviews praise its automated trading capabilities and daily strategic tips.
One of the disadvantages of FXTB is that not everyone can open an account on ForexTB.
But, only those living in the EAA region and Switzerland can trade on ForexTB.
ForexTB Trading Platform FAQs
Here is the list of FAQs related to the ForexTB trading platform:
What is ForexTB Trading Platform called?
ForexTB’s trading platform is popularly known as FXTB.
Does ForexTB provide Web Trading?
Yes, ForexTB provides a web-based trading platform.
Traders can choose between their two trading platforms.
The first is designed by ForexTB itself. The second is the industry standard MetaTrader 4.
Is ForexTB Trading Platform free to use?
ForexTB provides one free demo account, but you cannot do actual trading through that. It is more for understanding how the trading platform works.
In the free demo account, you get $10,000 of simulated money to get started with trading. This also helps understand how the website works.
How to download ForexTB Trading Terminal?
ForexTB is primarily a web-based trading terminal, so you can directly trade from its website.
They do have a mobile application that you can download from the Google Playstore and the Apple Store.
What features does the ForexTB Online Trading Platform have?
Some of the features of the ForexTB Online trading platform are:
- FXTB offers a demo account that allows traders to explore new strategies and try the two trading platforms available.
- ForexTB provides you with market news, daily signals, and an education center equipped with webinars, online lessons, ebooks, etc.
- Access to the MT4 trading platform
- Separate mobile app
Can I trade in Shares via the ForexTB MetaTrader 5?
Yes, you can do share trading through the FXTB MetaTrader 5.
Is ForexTB Trading Terminal suitable?
Many positive customer reviews praise the ForexTB trading platform.
Can ForexTB Web Trading Platform be used without EKYC?
Standard KYC documents are required to verify the account.
Does ForexTB Trading Platform Provide Tips?
Yes, you get tips and market news and education modules in the form of ebooks, webinars, and online lessons.
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