ForexTB Trading Account – Review, Types, Process, Benefits, Charges and moreLast Updated Date: Apr 29, 2022
Check out everything about ForexTB Trading Account here.
ForexTB is a Cyprus-based broker offering online trading through CFDs. This innovative, intuitive trading platform is accessible from anywhere and from all devices.
It provides powerful trading options to its users. ForexTB is best at connecting individual traders to global currency markets. It aims to get the best out of any trading opportunity.
ForexTB offers competitive prices and no complicated schemes to its users.
It meets the highest standards of corporate governance, financial reporting, and disclosure. It has a proven record of financial strength and stability in the market.
ForexTB Trading Account and Benefits
ForexTB Trading account is a preferred trading platform.
It is feature-rich and focuses on customer’s needs. It also provides many benefits altered to the needs of the traders.
ForexTB clients can trade in over 300+ financial assets. The list includes 50 Forex pairs, shares, precious metals, stock indices, and cryptocurrencies.
A mobile version of its custom Web-Trader platform is also available.
The app is well-supported by iOS and Android devices. It can open and close positions and analyze charts.
The app also follows the prices of all tradable assets in the market.
ForexTB trading account is suitable for traders at all levels of experience.
This MT4 Trading platform has a comprehensive education center. It caters to the needs of its clients and makes itself a well-functional tool.
Fill up the Form – Open Forex Trading Account Now!
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ForexTB Trading Account Charges
|Trading Account Charges|
|Initial Deposit||€ 250||its € 25,000||€ 1,00,000||€ 2,50,000|
Trading with ForexTB is commission-free.
But spread and swap costs vary depending on the asset that is being traded in the market or the account type opened.
ForexTB takes its cut from the spreads which are at, for example, 1.1 pips on the Euro/USD and 1.4 pips on the GBP/USD for VIP account holders.
The spreads are less competitive with lower account tiers. It also puts an €80 charge for accounts inactive for over a month.
Along with that, a swap fee for positions that are held open overnight is also charged. Once a trader has exhausted their free monthly withdrawals, it levies certain charges.
ForexTB deducts withdrawal fees at 3.5% for payment cards and up to €30 for bank transfers. To fund and empty ForexTB accounts, one can use payment cards, e-wallets, and wire transfers.
The minimum deposit amount to start trading on ForexTB is $250. But, withdrawal requests need correct documentation to avoid any processing delays.
Types of ForexTB Trading Account
|Types of Trading Account|
|Trading Desk Type||STP|
|Suitable for beginners||Yes|
|Suitable for professionals||Yes|
|Suitable for scalping||No|
|Suitable for daily trading||Yes|
|Suitable for Weekly trading||Yes|
|Suitable for swing trading||No|
ForexTB Trading account offers four different types of trading accounts.
They are suitable for all kinds of traders and their needs, trading purposes. The leverage remains the same for all types of accounts.
Though Professional and Retail accounts are an exception. The four types of accounts are- Basic, Gold, Platinum, and VIP. ForexTB also offers access to a demo trading account.
ForexTB offers a demo trading account.
It allows the traders to explore the two trading platforms- Web Trader & MT4. With $100,000 of simulated money with negligible risk to capital, a beginner can try out new strategies.
ForexTB Account Opening and Trading Process
Opening a new trading account with ForexTB is as simple as it can get. Let’s have a deeper understanding of the account opening and trading process of ForexTB-
- Go to the official website of ForexTB. Searching for the name on Google is all that you have to do.
- Find the Signup button on the broker’s homepage and click on it.
- It requires the user to enter their name, email, and telephone number after clicking on the sign up option
- Once entered, it redirects the user to the broker’s online web trading platform. To complete the application form, the user needs to provide certain information. It includes personal details, financial details, trading experience, and more.
- Next, it asks for Standard KYC and AML regulatory requirements. Users have to provide proof of identity and proof of address for verification.
- After verification, the user can access their trading account. By entering the User ID and Password, the user can access their account.
- After completing the above steps, the user can start trading. Though they need to have at least $250 as an initial deposit in their account.
- For new traders, the web-based platform provides a tutorial on how to use the platform.
ForexTB offers over 300 financial assets across two trading platforms.
Trading is commission-free but users should be aware of the 80 EUR inactivity charge. It deducts the amount if no activity has taken place within a month.
Find Different Trading Account Types of Forex Brokers
ForexTB Trading Account – Features
|Social Trading / Copy Trading||No|
|Guaranteed Stop Loss||No|
|Guaranteed Limit Orders||No|
|Guaranteed Fills / Liquidity||Yes|
|Trading From Chart||Yes|
|Interest On Margin||No|
|Other Trading Features||No|
Given below are some of the features of the ForexTB trading account-
Assets & Markets
ForexTB offers a huge variety of financial assets for its clients to trade-in. With over 300 instruments, it offers 50 Forex pairs, cryptocurrencies, stock indices, etc.
There exists a mobile version of the web-trader platform of ForexTB.
Both iOS and Android support the FXTB app. It also provides push notifications to avoid missing any important trading opportunities.
It also analyses charts, follows prices, and is easy to operate.
ForexTB offers features like live chat, email, telephone but only on weekdays. It assists its users in any sort of problem faced during the trading process.
They offer this service in many languages along with a detailed FAQ section on the website.
The broker provides educational resources from Trading Central for traders of all experience levels.
It covers a variety of topics including advanced strategies, technical analysis, and capital management.
They also provide daily signals and market news along with an economic calendar. An asset calculation tool is available to make the process easier.
Check out Online Trading Services of FOREX Brokers
ForexTB Trading Account – Conclusion
ForexTB is a broker offering online trading services to clients. It provides its services throughout the European Economic Area & Switzerland. It offers a web-trading platform and a globally recognized MT4 platform.
Being regulated by CySEC makes it one reliable platform for industry professionals.
It attracts traders by providing competitive leverage and low commissions. It is also very easy to access and operate.
ForexTB has, for its users, many useful features that help it in standing out among other players.
To suit the requirements of new traders, it also has an option of a demo account. This eliminates the risk factor and provides necessary exposure.
ForexTB Online Trading – FAQs
Here is the list of FAQs related to the ForexTB trading account:
Does ForexTB provide online trading?
Yes, ForexTB is an online trading platform.
A user can trade available assets by requiring only a stable internet connection.
A trader can also use the mobile application to carry out trading activities.
What are the commission charges in ForexTB?
There are zero commission charges when using ForexTB.
It is a commission-free platform for trading but Spread and Swap charges may apply.
There is also an inactivity fee of 80 EUR if there is no activity in one month.
Does ForexTB provide a demo account for trading?
Yes, it offers the facility of a demo account with up to $100,000 of simulated money with no risk factor.
It allows trying new strategies and learning new methods of trading for anyone new.
Is trading free at ForexTB?
Yes, trading at ForexTB is free of cost but some spread and swap charges may apply.
Charges may start applying once the user has exhausted their free withdrawals.
There are no deposit fees.
Does ForexTB provide Spot Metals trading?
Yes, ForexTB provides spot metals trading in precious metals.
The website offers key indicators to know more about the market trends. It helps in enhancing profits.
What are Spot Metals trading charges at ForexTB?
There are no spot metal trading charges associated with ForexTB.
Yet, it is advisable to clarify this with the customer support that ForexTB has for its clients.
ForexTB has live chat, email, telephone facilities available on weekdays.
Does ForexTB provide stock trading?
Yes, ForexTB provides stock trading options.
It offers around 300+ financial instruments to trade-in.
It also includes stock indices, crypto, and precious metals.
The website displays the stocks available for trading.
What is Spreads in ForexTB?
Spreads offered by ForexTB are very competitive.
It is usually wider than its competitors.
The higher the deposits, the better the spreads will be.
But, they are less competitive with lower account tiers.
Is ForexTB safe for trading?
Yes, the ForexTB trading account is reliable and safe.
Being regulated by the CySEC ensures high-end security to its users’ funds. The broker builds its clients’ trust by ensuring total transparency.
It secures all the transactions using encryption and firewalls. It also complies with all EU data protection laws.
Does ForexTB provide trading tips?
Yes, ForexTB provides many useful trading tips to its users. It also has educational resources as well.
It provides tips and guidelines to ensure high profits, daily market updates as well.
Fill up the Form – Open Forex Trading Account Now!
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