About ForexTB
Overview
Forex TB Ltd is a Cyprus-based investment firm established in 2015 and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license 272/15. The company is registered at Lemesou Avenue 138, 2nd Floor, Office 108, 2015 Strovolos, Nicosia, Cyprus.
The broker positions itself as a provider of forex and CFD trading services, offering the MetaTrader 4 platform alongside a proprietary WebTrader. Its stated focus is on both retail and professional traders, with account tiers designed to accommodate different capital levels.
Regulation and Safety
ForexTB holds a CySEC license, which subjects it to the regulatory framework of MiFID II. This requires capital adequacy, client fund segregation, and reporting obligations. The broker's license status is listed as regulated, and as a Cyprus-based firm, it participates in the Investor Compensation Fund (ICF) that covers eligible clients up to €20,000 in the event of insolvency.
Specific details on negative balance protection or additional insurance are not disclosed in the provided data. Traders should verify these details directly with the broker.
Account Types
The broker offers four account tiers:
- Basic: minimum deposit €250, leverage up to 1:30, spreads from 3.0 pips on EUR/USD
- Gold: minimum deposit €25,000, leverage up to 1:30, spreads from 2.7 pips on EUR/USD
- Platinum: minimum deposit €100,000, leverage up to 1:400, spreads from 2.1 pips on EUR/USD
- VIP: minimum deposit €250,000, leverage up to 1:400, spreads from 1.6 pips on EUR/USD
Higher-tier accounts offer tighter spreads and higher leverage, while the Basic and Gold accounts are capped at 1:30 leverage. Commission structures are not disclosed for any account type.
Trading Platforms and Instruments
The main trading platform is MetaTrader 4 (MT4), a widely used software known for its charting, technical analysis, and automated trading capabilities through Expert Advisors. ForexTB also provides a web-based platform for browser access.
The specific tradable instruments (such as forex pairs, CFDs on indices, commodities, or cryptocurrencies) are not disclosed in the available data. Traders should contact the broker directly for a full list of available markets.
Deposits, Withdrawals, and Fees
Deposit and withdrawal methods are not specified in the provided information. Similarly, commission structures for the accounts are not disclosed. The broker advertises low fees, but user feedback suggests potential complications in accessing funds.
Given the lack of clarity, traders should contact the broker for specific payment options, processing times, and any applicable fees before opening an account.
Customer Support and Bonuses
Customer support is available, but its quality varies according to user reports. The broker does not appear to offer standard bonuses; however, promotional campaigns have been noted in user reviews.
The data shows no bonus details from the broker itself. Traders should be wary of advertised promotions that may come with conditions, as negative reviews highlight misleading ads.
Conclusion
ForexTB is a regulated broker offering high leverage and multiple account tiers. Its CySEC licensing provides a baseline of regulatory oversight, but the lack of transparency on instruments and fees, coupled with negative user feedback, indicates a need for thorough due diligence.
Potential users should verify all terms directly with the broker before committing funds and consider the guarded risk score of 29/100 assigned by FXCanary.
Overview compiled by FXCanary from regulatory records and public data. full ForexTB review