FXTB Review
Broker: FXTB
Leverage: 1:30 | 1:400
Regulation: CySEC
Min. Deposit: 250 EUR
HQ: Cyprus
Platforms: WebTrader, MT4
Found In: 2015
Website: forextb.com
FXTB Licences
Forex TB Ltd - Authorized by CySEC, (Cyprus).registration number. 272/15
Who is FXTB?
ForexTB (FXTB), an STP broker based out of Cyprus, was established in 2015. Forex TB Limited is a Cyprus Investment Firm authorized and regulated under the Cyprus Securities and Exchange Commission. This broker provides a unique trading experience via its platforms and strives to uphold strict industry regulatory compliance requirements in all aspects of its operations.
This is all backed by an unrivalled technology base that allows for high quality performance, including popular platforms MT4/WebTrader and smooth execution through many liquidity providers. FXTB follows unsurpassed standards and regulations, in addition to the necessary legislation and safe transactions.
You should trade with someone you trust and who will treat you fairly. This is crucial as most offshore brokers cannot provide reasonable trustability, which is why we recommend that you avoid them. We will also review FXTB to help you decide if this broker is right for you.
Overview
FXTB is a licensed broker that offers low fees and tailor-made solutions. Account opening is easy and completely digital. Free educational tools are available to beginning traders.
FXTB's drawback is withdrawal fees and spreads that are associated with standard account levels.
Pros
Top-tier regulation
Choice of trading assets
MetaTrader 4
Cons
Wide spreads on lower account types
High minimum deposit
Rating of the company overall
Reliability ⭐⭐⭐⭐⭐
Platform ⭐⭐⭐⭐⭐
Commissions ⭐⭐⭐⭐
Support ⭐⭐⭐⭐
Financial instruments ⭐⭐⭐⭐⭐
RATING: 4.4
Which type of broker is FXTB?
FXTB is a STP Forex broker. It also adheres to strict regulations regarding the trading environment. FXTB is a STP Forex Broker that offers a wide range of investment options to its clients.
FXTB is safe?
FXTB isn't a fraud. It is a licensed broker that offers lower risk Forex and CFD trading. FXTB is managed by Forex TB Limited (a Cyprus Investment Firm) with CIF license number 272/15. This means that the broker is authorized and regulated to offer trading solutions within Cyprus, the EU and beyond by cross-border registrations.
FXTB, as a regulated business, is subject to strict rules and regulations. These are put in place to ensure that they comply with all operating conditions throughout the provision of their services. They are also designed to protect investors and promote orderly and stable financial markets.
Forex TB Limited provides services in the European Economic Area (except Belgium and Switzerland).
The regulation mentioned above is a transposition from MiFID European Law, which operates under ESMA. It contributes to the financial stability of the European Union and enhances the protection of investors.
What can you do to be protected?
To give traders additional assurances about the safety and security of client funds, all funds are kept in separate accounts. The broker is also a member the Investor Complementary Fund which adds an additional layer of protection. The platform offers trading support through alerts and charts, as well as extensive customer service. This helps clients to be ready to enter the market and make informed decisions.
Leverage
The broker will give you leverage, which allows you to trade with greater market exposure than your initial balance. The ratio of leverage levels is usually presented in terms of a percentage. Retail traders can be exposed to high risk if they don't know how to use tools well.
Due to the potential risks involved, recent regulatory updates by the European regulators, CySEC, and CySEC have lowered the maximum leverage levels for retail account holders. If you are a professional trader, you can access leverage ratios as high as 1:400 once your status has been established.
Retail traders have 1:30 leverage on major currency pairs and 1:10 for commodities.
Accounts
FXTB offers four types of account that define trading conditions. Each account type is tailored to meet specific trading needs and offers a customized trading experience.
There are differences between these accounts in terms of features like spreads and minimum deposits required to trade. It is important to choose the right account for you. All accounts offer the same trading conditions and services. The withdrawal fees charged by brokers may vary.
Trade Instruments
FXTB has over 300 financial assets to choose from. ForexTB allows you to trade CFDs in Forex assets such as EUR/USD and GBP/USD. You can also trade CFDs for commodities such as gold and silver.
You can also trade CFDs on stocks from tycoon corporations like Apple and Alphabet. This is in addition to the largest Indices, such as NASDAQ and S&P 500.
Fees
FXTB spreads and costs that the broker charges for its trading solution are dependent on which account type you have, what trading size you use, and the trading platform you choose. You can also check out the complete fees below, including non-trading fees and funding fees.
Spreads
The pricing and fee schedule of the broker's offer are very attractive. The spread for the EUR/USD pair for a basic account is 3 pips. However, for a VIP accounts, the fee drops to 1.8 pips. The broker charges an inactivity fee if accounts are not used for at least one month. If you hold the position for more than one day, be sure to consider an overnight charge or swap. This is determined by the trade instrument and can be seen on a trading platform or website. Take a look at the image in the above snap.
Below are some examples of FXTB spreads. You can also compare fees with other brokers.
Deposits and withdrawals
A key factor in choosing a Forex broker is how money can be transferred to and from your trading account. Regulated brokers follow best money management practices and are regulated under their authority.
Optional fees and deposit fees
Log in to your FXTB account and click the Deposit button. You have a variety of deposit options to choose from. These are the deposit methods you can use:
Credit Card
Electronic Payment
Wire Transfer
It is great that deposits are free of charge so you don't have to pay any commission. However, it is important to discuss this with your bank or payment provider as an international rule, which can vary from one country to the next.
FXTB Minimum deposit requirement
FXTB minimum deposit EUR250 allows you to open a basic account. As these accounts are for experienced traders, higher grade accounts will need more money.
FXTB Minimum Deposit vs Other Brokers
FXTB Money Withdrawal
Log in to your account and click on the Banking tab. Next, click on The Withdrawal tab. Click on the Next button to enter the amount you want to withdraw. Complete the fields, then click the Submit button.
FXTB withdrawal fees vary depending on the account type. VIP account holders are eligible to withdraw three times per month for no charge.Platinum account holders have the option of making up to three withdrawals each month. Members of the Gold account can withdraw one time per month for no charge. Basic account holders may make one withdrawal free of charge, with charges every time you withdraw.
Trade Platforms
You can choose between WebTrader or a popular industry software MetaTrader4.
Web Trader
WebTrader, which is a Web Trading platform based upon the MT4 engine has many advantages. You can access trading software without having to install it or program it on your computer. It also means that you can log in to your trading account from any device by using a browser. This allows for great accessibility.
Web Trading platforms have limitations in terms of customization and tools. It is simple to use but not as comprehensive as the desktop version if you need detailed portfolio adjustments or specifications.
Meta Trader 4 (MT4)
MetaTrader4 desktop platform can be downloaded and installed on any device, including MAC and PC. You can customize and protect your working layout with MT4's specification and installation. The desktop version, which is packed with advanced tools and no limitations on the strategies, is an excellent feature for active traders.
This platform is available through ForexTB and offers traders three chart types and more than fifty technical indicators. You can also personalize it.
MetaTrader4 allows you to monitor the market and make better decisions about when to open Forex or other CFDs positions.
Mobile Trading Platform
A mobile app is also available. Apps are easy to use and provide a variety of tools. MT4 Mobile offers a variety of charting options and customization that are great for mobile trading, as well as full account management.
Customer Service
FXTB customer service provides support via live chat, email and phone in many languages (English, German Dutch, Italian Spanish, Swedish, Polish, Spanish, and Italian). Only on weekdays, the support team is available between 9 AM and 6 PM (GMT).
Education
FXTB members have access to educational materials such as videos, guides, TipRanks and trading eBooks.
Customers can access the Trading Central section to find Daily Market Analysis and Economic Calendar. They also receive Strategy Newsletters and have access to the TC Research platform.
The broker also offers an asset calculator that finds spreads and swaps as well as trade sizes and fees in just a few clicks.
Conclusion
FXTB offers quality trading with flexible platforms and instruments. The European CySEC has regulated FXTB in accordance with the MiFID directive. This means that the broker is subject to protective measures. To get the lowest withdrawal fees, tightest spreads and the most daily signals, we recommend a higher account level.