ForexTB Account Types & How to Open

ForexTB markets itself as a regulated CFD broker with a choice of four account tiers, ranging from a €250 entry point to a €250,000 VIP offering. The firm holds a single CySEC licence (272/15) and is based in Cyprus.

However, the account structure raises immediate questions. While tier differentiation is common among forex brokers, the lack of publicly disclosed key details—funding methods, trading instruments, commissions—leaves prospective clients in the dark.

ForexTB’s four accounts—Basic, Gold, Platinum and VIP—are primarily distinguished by minimum deposit, maximum leverage and indicative spreads on major pairs. The gulf between tiers is stark: Basic and Gold are capped at 1:30 leverage, whereas Platinum and VIP offer up to 1:400.

This split suggests that the lower tiers are aimed at retail traders under ESMA rules, while the higher tiers are reserved for ‘professional’ clients who can opt up. Yet the broker discloses nothing about the qualification criteria to access the high‑leverage tiers, and we could not locate any formal professional-client opt‑out procedure in the public domain.

The Basic account demands only €250, making it accessible to newcomers. On the surface, that low barrier mirrors the deposit minimums of many mainstream brokers. However, the advertised spreads tell a different story.

For EUR/USD, the starting spread is 3.0 pips; GBP/USD begins at 3.4 and USD/JPY at 3.3. In a market where tight‑spread accounts routinely advertise EUR/USD below 1.0 pip, these figures are decidedly uncompetitive. Traders on a micro budget will find their profits eroded swiftly by the wide spreads, especially if they trade frequently or in small size.

Stepping up to Gold requires a €25,000 deposit—a significant leap. In return, the spreads tighten fractionally: EUR/USD falls to 2.7, GBP/USD to 3.1 and USD/JPY to 3.0 pips. Yet the maximum leverage remains pegged at 1:30, still within the ESMA retail cap.

For a trader deploying €25,000, the slight spread narrowing hardly justifies the capital commitment. Without any disclosed rebate, swap concessions or dedicated account manager (the broker does not list additional benefits), the Gold tier appears to offer poor value relative to its minimum balance.

The Platinum (€100,000) and VIP (€250,000) accounts unlock full 1:400 leverage. Spreads shrink further: Platinum quotes EUR/USD from 2.1, while VIP shows an enviable 1.6 pip on the same pair. If those spreads are genuine and consistently available, they would be among the better STP-style quotes in the retail space.

Nevertheless, both tiers present a glaring omission: nowhere does ForexTB specify whether a commission is added to the raw spread. Many professional accounts pair tight spreads with a per‑lot commission, and without that figure, the true cost of trading remains unknown. In our view, this opacity makes it impossible to compare Platinum and VIP with truly institutional‑grade offerings.

For Basic and Gold accounts, the 1:30 cap reflects the CySEC/ESMA product intervention rules for retail clients. This is a protective measure, and it places ForexTB’s lower tiers on a par with any EU‑regulated broker. The challenge for the trader is that those leverage caps are standardised—you will not gain any financing advantage by choosing this broker.

Platinum and VIP leverage, pegged at 1:400, implies that the client is treated as an elective professional, thereby waiving ESMA protections such as negative balance protection and access to the Investor Compensation Fund. The broker does not publicly explain the process for obtaining professional status, nor does it warn adequately about the risks of losing those safeguards. Given that several user reviews accuse the firm of aggressive upselling by account managers, we regard this opaque route to high leverage as a red flag.

We cross‑checked the published spreads against the broker’s CySEC licence, which authorises dealing on own account (STP). That means spreads can be market‑driven, but the presence of spreads that are multiples of the interbank rate—especially on Basic and Gold—hints at a widen‑and‑mark‑up model.

No commission tables are provided. If the broker charges zero commission, then the all‑in cost is embedded entirely in the spread. On Basic, trading one standard lot of EUR/USD would incur a spread cost of roughly $30 at the advertised minimum—far higher than what ECN or low‑cost brokers charge.

For the high‑tier accounts, the lack of a published commission is even more frustrating. A VIP account with a 1.6‑pip spread could be attractive if commission is $0, but if a typical $3–$5 per‑lot charge per side is added, the effective cost jumps significantly. Until ForexTB publishes full fee schedules, traders should assume that the real cost is higher than the headline number.

User reviews point to two platforms: the ubiquitous MetaTrader 4 and a proprietary web‑based trading interface. The demo version appears to be available on request, as several reviewers mention practising on a demo before going live. However, the broker’s website does not detail the platforms’ feature sets, available order types or any mobile companion.

For a modern broker, a clear platform page is a basic expectation. The absence of concrete platform information—especially for the lower account tiers that cater to beginners—forces traders to open an account simply to understand what they can trade and how. This adds unnecessary friction to the onboarding process.

ForexTB’s onboarding should, in theory, follow standard CySEC‑mandated KYC: identity document, proof of address and possibly proof of funds. Instead, a swath of customer reviews points to persistent obstruction when funds need to be moved.

Clients report requests for extra “verification deposits” before withdrawals are processed, and some describe accounts being frozen after they attempt to pull out profits. In one representative complaint, a user states, “they kept asking for more documents and then more ‘verification deposits’.” Another reviewer lost a life‑changing sum and has received no resolution.

FXCanary’s investigation found 16 withdrawal‑related complaints and multiple scam concern reports. While every broker suffers some disputes, the pattern here—demands for “deposit” to trigger verification, sudden account closure, unhelpful support—mirrors the playbook of less reputable outfits. Traders should be prepared for a time‑consuming and possibly adversarial withdrawal process.

The broker does not publish the list of supported base currencies. Typically, a CySEC‑regulated firm allows EUR, USD and GBP, but without confirmation, a trader whose local currency is not supported will face conversion fees on every deposit and withdrawal—a hidden cost that can eat into returns.

Equally noticeable is the absence of any instrument list. Whether ForexTB offers major, minor and exotic FX pairs, indices, commodities or shares CFD remains a mystery. With zero disclosure on the website, a trader cannot assess the depth of market access before committing capital.

ForexTB’s account tiers present a classic bait‑and‑switch risk. The low entry requirement on Basic looks attractive until you study the wide spreads and restrictive leverage, and the high tiers promise professional conditions while hiding the true cost structure. Add in the troubling KYC and withdrawal experiences reported by dozens of users, and the overall package becomes difficult to recommend.

FXCanary’s compiled Scam Risk Score of 29/100 (“Guarded”) reflects precisely these tensions—a single, in‑date regulator tries to legitimise a broker whose operational conduct, as narrated by real users, falls short of the standards demanded by that regulator. Unless ForexTB begins to publish full fee breakdowns, platform specifications and a transparent withdrawal process, we advise treating even a small deposit as speculative capital that may be difficult, if not impossible, to retrieve.