FXTB

ForexTB (FXTB) is a broker regulated by CySEC. They offer trading in many different types of assets. You can trade over 300 things, like stocks and currencies, using their easy-to-use website or the MetaTrader 4 platform. If you have a top-level account, you can get low prices with no extra fees. FXTB also gives you extra stuff like daily trading tips and lessons to help you learn. FXTB is a type of broker called STP. They offer lots of options for trading to people all around the world.

🏢 Headquarters	Nicosia, Cyprus
📅 Year founded	2015
🗺️ Regulation	CySEC (Cyprus Securities & Exchange Commission)
💻 Trading platform:	WebTrader, MetaTrader 4
💰 Account currency:	EUR, USD
📊 Accounts:	Basic Account, Gold Account, Platinum Account, and VIP Account
💵 Withdrawal:	Payment cards, e-wallets (Apple Pay, Venmo) and wire transfers
🚀 Minimum deposit:	USD 250/R 4 494,33
⚖️ Leverage:	1: 30, 1: 400 for professionals
☪️ Islamic account (swap free)	Yes
🎮 Demo Account	Yes
💱 Spread:	From 0.04 pips
🔧 Instruments:	CFDs on Commodities, Forex, Stocks, Indices, and Cryptos
📋 Orders execution:	–
☎ Customer Support	24/5
📚 Education	Webinars, Courses and Research tools
🌐 Countries not accepted for trade	Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Spain, Slovenia, Sweden, Iceland, Liechtenstein, Norway, and Switzerland

What is FXTB?

FXTB is an online broker that lets you trade different types of assets. It started in 2015 and is based in Cyprus. It follows rules set by the Cyprus Securities and Exchange Commission (CySEC) to keep things fair and safe for clients. You can trade forex, cryptocurrencies, stocks, indices, and commodities using this platform.

When you trade with FXTB, you’re using contracts for difference (CFDs). This means you’re not actually buying the assets themselves, but betting on their price movements. Retail accounts can get leverage up to 1:30, which means you can trade with more money than you have. FXTB doesn’t charge commission fees for trading CFDs; they make money from the difference between buying and selling prices (called spreads). The size of these spreads depends on the type of account you have. They offer four different types of accounts for regular traders and one for professionals with higher leverage of up to 400:1.

You can try out FXTB with a demo account that gives you €100,000 in virtual money to practice with. You can fund your account using wire transfer, card payment, or e-wallet. FXTB also supports MT4 trading, provides free Trading Signals, and allows trading on mobile devices. Their website is easy to navigate and has all the important information, including legal documents, which you can find at the bottom of the page.

Pros and Cons

Pros	Cons
You can invest in stocks, indices, forex, cryptocurrencies, commodities, and ETFs.	Fees for withdrawing money using certain methods.
Get trading advice, attend webinars, and access a glossary for CFD trading.	Customer support is available for limited hours.
Receive daily signals and stay updated with financial news.	Spreads are relatively wide for some assets.
Support for automated trading.	There’s no option for copy trading.
Access to a comprehensive education center.	An inactivity fee of $20 applies.
Try out trading with a free demo account.	Lack of social trading
Use the MT4 trading platform.	Only FX and CFDs
Access Trading Central for more insights.

Is FXTB safe or a scam?

No, FXTB isn’t a scam. It’s a regulated broker that has less risk for Forex and CFD trading. FXTB is run by Forex TB Limited, a company in Cyprus that’s authorized and regulated by the Cyprus Securities and Exchange Commission. This means the broker is legit and has full permission to offer its trading services in Cyprus, the EU, and other places through cross-border registrations.

Regulation and Security

FXTB runs under Forex TB Ltd, a Cypriot investment company. It has a license from the Cyprus Securities & Exchange Commission (CySEC) which keeps an eye on it.

FXTB makes sure your information stays safe. It uses strong security measures like PCI scans and 128-bit Secure Sockets Layer (SSL) encryption for sending data. Transactions are kept safe by firewalls, tough security systems, and two types of encryption. When you pay online, it follows the 3D Secure V2 standard to keep your card details secure. Also, FXTB follows all the laws in the European Union that protect your data.

Leverage

FXTB Leverage lets you trade with more money than you start with. It’s shown as a ratio, like 50:1 or 100:1. These ratios have rules to follow to make sure people don’t take too many risks without knowing what they’re doing.

For example, if you have $1,000 and you use 500:1 leverage to trade $500,000, it’s like you’re trading with $500,000 even though you only have $1,000.

Margin is like a safety net for your trades. It’s a bit of money you need in your account to cover any losses. It’s shown as a percentage, like 5% or 1%. You have to keep enough money in your account to cover this margin.

Like, if you’re trading $1,000,000 with a 1% margin, you need $10,000 in your account as a safety net. Your account needs to have at least 100% of the margin to open new trades, or it’ll be too risky.

FXTB offers a maximum leverage ratio of 1:400, which means they let you trade with up to 400 times your original money.

Accounts

FXTB offers four types of accounts for different kinds of investors. Each account has its own benefits. They all have the same leverage rates, but professional and retail accounts are different.

Basic Account:

• You get daily signal alerts.
• You can use Trading Central.
• You get one free withdrawal per day.
• The spread for EUR/USD is 3 pips.
• You need to deposit at least $250 to open this account.

Gold Account:

• You get daily signal alerts.
• You can use Trading Central.
• The spread for EUR/USD is 2.7 pips.
• You get one free withdrawal every month.
• You need to deposit at least $25,000 to open this account.

Platinum Account:

• You get daily signal alerts.
• You can use Trading Central.
• The spread for EUR/USD is 2.1 pips.
• You get three free withdrawals every month.
• You need to deposit at least $100,000 to open this account.

VIP Account:

• You get daily signal alerts.
• You can use Trading Central.
• There is no limit on free withdrawals.
• The spread for EUR/USD is 1.6 pips.
• You need to deposit at least $250,000 to open this account.

Each account has different features, like spreads and minimum deposits. You should choose the account that suits your needs best. All accounts have the same competitive trading conditions and services, but the withdrawal fees differ depending on the account type.

Types of Markets

This broker offers different markets for trading. You can trade in the forex markets with over 50 currency pairs. You can also trade in commodities, stocks, and indices. Additionally, you can trade cryptocurrencies through this broker, but whether you can trade them as CFDs depends on where you live. Unfortunately, if you live in the UK, you can’t trade cryptocurrencies as CFDs through this broker.

FXTB mainly serves clients in the EU, European Economic Area, Switzerland, and the UK. Clients can access various international stock exchanges and trade different instruments, including international stock indices like the FTSE, DAX, and NASDAQ. Customer support is available 24/5, from Sunday evening to Friday evening, to help traders whenever the global markets are open.

Fees

FXTB charges fees and spreads for its trading solution. The fees depend on the type of account you have and how much you trade. You can see all the fees in the table below, including funding fees and fees for things other than trading. If you don’t use your account for a month or more, FXTB may charge you an inactivity fee. This fee keeps your account available even if you’re not using it.

Spreads

FXTB Spreads are quite high. If you have a basic account, you’ll pay a spread of 3 pips for trading the EUR/USD pair. However, if you have a VIP account, the fee drops to 1.8 pips. But, if you don’t use your account for more than a month, FXTB will charge you an inactivity fee. Also, if you keep a position overnight, you might have to pay overnight charges, depending on what you’re trading.

Just like any other broker, FXTB charges a few other fees. For instance, they charge an €80 monthly fee on inactive accounts. Also, if you keep a position open overnight, you might have to pay swap or rollover fees. The General Fees document explains how these fees are calculated for each type of contract and mentions other fees that might apply to your account. 

It’s important to note that there are no deposit fees. However, withdrawal fees vary depending on your account type. Every account type gets at least one free withdrawal, but if you have a VIP account, you can make unlimited free withdrawals.

Deposits and Withdrawals

Deposits

When you choose a Forex broker, it’s important to know how you deposit money into or take it out of your trading account. Regulated brokers follow rules to manage money properly. The good news is that there are usually no fees for putting money in, but it’s smart to check with your bank because rules can be different depending on where you are.

Withdrawals

To start trading with FXTB, you need to deposit at least EUR250 for a Basic account. If you want a better account, you’ll need to put in more money. When you want to take money out, just log in to your account, go to the Banking section, then click on Withdrawal. Type in the amount you want to take out and follow the steps to finish. The charges for withdrawal depends on the type of account you have. If you have a VIP account, you can take money out for free every time. Platinum account holders get three free withdrawals each month. Gold account members get one free withdrawal each month. Basic account holders can make one free withdrawal, but after that, there are charges for each withdrawal.

Trading Platforms

You can pick from two trading platforms. One is made by FXTB for trading on the web. The other is MetaTrader 4, which is widely used in the industry.

Each has its own good points. Choosing one depends on what you like. You can try them out with a demo account before using real money. FXTB offers both desktop and web-based trading. The WebTrader platform is easy to use and has helpful tools like charting tools, technical indicators, and one-click trading. But it’s not as advanced or customizable as MT4.

But that’s okay because FXTB traders can use MT4 if they prefer. MT4 is popular for forex and CFD trading because it offers more advanced features, integration options, and customization. You can even use Expert Advisors for automated trading and Trading Signals for social trading. Both platforms give access to Trading Central, which offers daily market analysis and other resources.

Customer Support

You can contact customer support by phone, email, or live chat on the website. Support is available from 9 AM to 6 PM (GMT) on weekdays. Both new and existing customers can use all support channels. You can also check the FAQ section on the website for general questions.

Market Research

FXTB gives all clients access to Trading Central for research and analysis. This includes insights from real experts and algorithms, as well as potential investment strategies. They also provide Market Buzz, an AI news desk for relevant market news and trading info. Trading Central uses award-winning methods for research and analysis, making it a strong advantage for this broker.

Education

When we tried FXTB, we saw that the broker provides great education on the website. It gives tips and advice for everyone, no matter how much experience they have. They have webinars, online lessons, articles, and ebooks. These help all kinds of learners. You can also watch video tutorials on their YouTube page.

Conclusion

Topforex is here to help traders choose the right broker. So, FXTB offers good trading with flexible conditions, platforms, and instruments. You can trade currencies, indices, commodities, and shares. FXTB is regulated by the European CySEC, which is good for the user’s safety. We suggest going for a higher account level for cheaper withdrawals, tighter spreads, and free signals. FXTB is a good option for EU and Swiss forex traders. It has competitive spreads, high leverage, and no commission trades. Also, it offers lots of cryptocurrencies, which many traders are interested in.

FAQs

Is FXTB a regulated and trustworthy broker?

FXTB is regulated by the Cyprus Securities & Exchange Commission (CySEC) for operations in the European Economic Area (except Belgium and Switzerland). 

What’s the minimum deposit for a FXTB account?

The minimum deposit for a Basic account is $250. For Gold accounts, it’s $25,000, Platinum accounts require $100,000, and VIP accounts need $250,000. The smallest trade size is 0.01 lots.

What trading platforms does FXTB offer?

FXTB offers two trading platforms: MetaTrader 4 and its own Web Trader platform. Beginners might prefer the FXTB web-based platform, while advanced traders usually prefer the customization and advanced features of MT4.

Does FXTB provide a demo account?

Yes, FXTB offers a free demo account. It comes with $100,000 in notional money and a simulated market. This fully functional demo account is great for trying out strategies, platforms, and indicators.