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ForexTB has 123 customer reviews and ranks 30th in the Currency Trading category.
As on my own, that's some kind of a typicall brokerage. I don't think there are points you would be disappointed with, but also there are almost no unique everything like everywhere: WebTrader, MT4, mobile app. I don't mean that it's bad, brokerage is just a common one and that would be okey for 90% of traders.
Honestly, if I found any flaws, I would definitely highlight them. However, in half a year of trading with this broker there was not a single thing to disappoint me. I didn't have any special expectations, I just switched from an unregulated broker to a regulated one. I was ready for the spreads to be higher, but in reality it turned out that regulated brokers also offer quite tight spreads, even tigher than offered by my prev unregulated broker. And that includes a very large list of assets, especially stocks. For me, as a long-term trader, it was important, because 60% of my portfolio is exactly stocks. The only thing that seems to me is that the broker could offer 24/7 support (as far as I understand, there is only 16/5 support here), but that is not a big deal.
Dear Leonid.
We are glad that you are satisfied with our platform. Thank you for your review. Please, note that our support works 24/5.
Reading a lot of ForexTB reviews, I've highlighted the main points that make traders choose this broker:
1. CySEC regulation. Of course, there are many regulated brokers, but that doesn't mean that we shouldn't consider regulation as an advantage at all. Of course it's still here, at least you definitely shouldn't consider unregulated brokers. Never.
2. a large choice of stocks. It's true, I was surprised that the company is constantly working to expand the list of available stocks. Of course most traders only trade Forex, but if you're like me interested in trading stocks then I think this broker has a lot to offer.
3. there is an MT4. That is also true, but the broker doesn't offer Metatrader 5, which can be seen as a disadvantage. I certainly don't think so, but still I know many traders who trade with MT5. MT4 is enough for me, as for me it's the best trading platform with wide range of instruments, including EAs.
And in general people write very true ForexTB reviews, as you can see I agree with 3 main points.
Hi Yaroslav, Just dropping a message to thank you for your nice and explanatory review. We appreciate it.
Trading is my secondary income source, but when I'm away from home that was a problem to still keep control over my trades. However, a couple of month ago brokerage has announced and introduced its app for iOS, so now I can trade even when I'm away from PC.
Sad that it took so much time to wait for this mobile app, as I know, Android app was introduced much earlier, but I assume that's because of App Store rules for developers. Anyway, now ForexTB mobile app is available for iOS and that's a good news for traders that need to control their trading with their phone.
Dear Sat,
Thank you for your positive feedback and for the 5 stars rating!
Let's be honest, the broker can't offer anything revolutionary in terms of trading. But do we need this? Personally I just need to trade, diversify my portfolio and get paid on time. I don't have any other demands and in this respect the broker is okay.
Trading is organized with ECN, but I could be wrong. In any case, order execution is very fast, slippages are quite rare, I had about 20 slippages during a year of trading so I guess thats a good result.
But there is one thing I really like. If you prefer to invest not only in currencies but also in stocks, the broker offers one of the best offers on the market. You can check the full list of assets on their official website, but I will just say that it is more than other brokers I have traded with.
So I think it's a good broker, but without any significant features.
Dear Pragan,
Thanks for your positive feedback. We are continuously working on adding more features to our app to make your experience better!
I started trading with Forextb and I had signed up to know more about them.
My broker was a great guy.
Dear Michael,
Thank you for taking the time to submit your feedback. However, we're sorry to read this review from you and that you had a bad experience with ForexTB. We would like you to provide us with more details of your inquiry with ForexTB by sending us an email to [email protected] in order to examine your case and be able to solve your issue. Thank you.
Education is the way how brokerage can help the beginner traders to start trading and I'm sure that good brokerage invests in education and providing free analysis. While trading is almost the same in any brokerage, supporting services are the field where brokers can show how they take the clients. And this brokerage is good in this regard.
Dear Jesper,
Thank you for your positive feedback and for taking the time to submit your review!
I can't say this brokerage changed my mind about trading or about brokerage service, nope, that's rather just a common brokerage, without any points that would make you to say 'wow'! Is that good? I think yes, as we're there for trading, not for saying wow, hah. I don't like, to be fair, only one thing - there's no social trading, as well as no copy-trading or sth like this and that makes me a little upset.
Dear Adrian,
Thank you for your feedback! We are always trying to improve our platforms and add more tools.
In order to get a better leverage you must invest at least 0.5 million euros/dollars. I think this limiation is ridiculous.
The rest of it I think is OK. Fees are tradiional - the broker charges variable spreads. Withdrawals take less than an hour speaking of credit card withdrawals.
Dear Patrick,
Thank you for your honest feedback and for taking the time to submit your review!
Totally disappointed with this broker. Don't get any tips from them. I did and I lost a lot of money. One of their employees gave me advice on several investments but in almost all of them the course went in the opposite direction to his advice.
Dear Vesa,
Thank you for taking the time to submit your feedback. However, we're sorry to read this review from you and that you had a bad experience with ForexTB. Please share with us your experience in as much detail you can in order to examine your case at [email protected] and be able to solve your issue.
I don't really know what's importnat for other traders. I had a commpany's reputation, regulation and spreads in mind when I opened an account here. Reputation and regulation are obviously out of question. Spreads can seem to be quite wide for some of my colleagues, but I've chosen a broker with spreads a bit above average intentionally. I think if he company really makes money with spreads only, they must be wide enough. Tights spreads are very suspicious.
Dear Osman,
Thank you for your positive feedback and for choosing us as your trusted broker!
I would have lied if I said that my expectations of trading business all turned to be true. No, this busines is tough, I can't argue with this statement any longer. However, speaking solely about my experience with the brokerage, I can't complain, that's true.
I didn't ran into any difficulties that experienced colleagues said I could run into. No troubles with execution my orders. Both market and limit orders get filed fine, no delays, no extreme slippages. I didn't withdraw any profits yet, as I still struggle to get some LOL. Will keep you posted ;)
Dear Nidar,
Thank you for your positive feedback and for the 5 stars rating!
The first thing I checked about the brokerage is whether it's regulated. It is. CySEC. So that's good. Next I checked the website. Didn't look suspicious eiher. All the terms of service and agreemnets looked fine. Liquidity providers are mentioned, so you can expect a certain level of transparency here about quotes, spreads and executions.
As for the user experience itself - I guess I can't realy speak much of it as it al runs pretty smooth and I didn't really have a chance to contact support and see if they can deal with some complex issues (competent enough). My small reuqests to help with KYC process and questions about new account setup were answered quickly enough. This doesn't speak for some extraordinary support skills, but as I sead I dindn't have a chance to test the service in a more stressful circumstances with urgent or complicated issues (and I hope I won't have to LOL). SO far all is good to sum it all up.
Dear Amiran,
Thank you for your positive feedback and for choosing us as your trusted broker!
The essense of choosing a broker is to find the one that you can truly forget about. I know there is always a temptation to start blaming someone for financial losses on forex (yeah, we all've lost some money here. Haven't we?) but don't give yourself a single chance to find the one to blame and forget about the share of your own responsibility.
The broker must be regulated. WE can put a check mark here as forexTB is a CySEC regulated one. Your funds are safe.
Executions must be GOOD! That's the impornat one. At this point many trader fail as they don't have a chance to find out what their results would have looked like if all the orders were executed fine. No sllippages, no requotes. I can't say that here he executions are 100% accurate. When I backtes my new systems, I include a $5 "extra" expenses per lot to compensate for possible slippages. That covers the normal inaccuracy caused by real life executions according to my experience.
Withdrawals. I wouldn't like to have any surprises here. I don't with ForexTB and that sounds good enough for me.
Dear Asim,
Thank you for your honest feedback and for taking the time to submit your review!
I don't know why I see some reviews with complaints about 'wide spreads'. What? I'm checking in real time - EURGBP around 1.5 pips, that's tight enough. I think people that say that 'spreads are wide' were trading Stocks and switched to stocks-trading after trading Forex. Of course, stocks' spreads are wider, but 10-20 pips for stocks is okey number, that's not too bad!
Dear Truec,
Thank you for your positive feedback and for the 5 stars rating!
You probably have heard that stocks daytrading normally starts with 25K deposits. It was important for me to invest but also have a certain degree of freedom to be able to cahnge my mind and close some positions any time. CFD trading suit the purpose. ForexTb has got an excellent variety of assets you can invest in longterm or daytrade them. The minimum deposit is not limited but I suggest starting with at least 1K.
Dear Rudi,
Thank you for sharing your positive trading experience with us and for the 5 stars rating!
I think the only thing that really matters is execution speed, as slow execution or even slippages is the only thing that can ruin your trading. Even if you're paying higher spreads, but your brokerage offer stable execution, that's always better than low spreads, but intermittent execution.
Dear Iosebi,
Thank you for your positive feedback!
Sometimes one must change the background completely to get open for transformation. When I was in highschool I've seen how this method worked when I completely changed my image after transferring to another school. I hoped this would work with broker to.
I didn't treat trading seriously long enough and these gambling paterns of behaviour stuck to me. That wasn't good for my equity curve for sure. ForexTb was my second chance. I changed the approach to a systematic one and changed the broker and trading platform as well. I'm not sure what helped exactly (I hope that's my new approach to trading and the trading system that I apply now), but the broker itself deserves some words of gratitude from me too. They are professional, don't interfere in your trading, don't push for applying more risks, don't manipulate prices from what I see so far. I know that's more of what they don't do, but this is life - when you choose a brokerage, you must pay attention not only to what they offer, but also to what they WILL NOT do. Exeprienced traders will know what I mean.
Dear Ankur,
Thank you for your positive feedback and for choosing us as your trusted broker!
I can't really complain about the service as I don't see how the company could do their job better. The problem is I'm still not making much profits as I wished I would. My best guess would be I need to get more systematic in my trades LOL
Anyway, orders get executed instantly, no delays, spreads are ok if you ask my opinion, the broker is regulated. No much that I can see they can improve apart from. Yeah that would be nice if they could find the holy grail of profitable trading and share it with customers, muahaha.
Dear Jad,
Thank you for your positive feedback! We hope you can find the holy grail on our platform!
I think the only cons of the brokerage is that the basic account minimum deposit is large enough - 250 euros. On the one hand its good, as it's insane to try trading profitably with a deposit as low as 50 euros or less. On the other hand, in case you just want to get a sense of trading live, risking real money, losing 250 euros can be painful enough ( just in case you can't really trade and do silly things when in the market). Otherwise all is really good: fast executions, reliable service. I only withdrew the funds once - the transfer was completed within an hour or two since the request for withdrawal.
Dear Rashad,
Thank you for your positive feedback and for the 5 stars rating!
Dear Siegmund,
Thank you for taking the time to leave us this positive review!