ForexTB Review 2024

3.6 / 5
ForexTB is #38 in our CFD broker rankings.

ForexTB is best for CFD traders with larger amounts of capital who can access the VIP account and more competitive pricing.

- Daytrading Review Team

ForexTB is a CySEC-regulated multi-asset broker offering CFDs on more than 300 instruments through an intuitive web-based platform or MetaTrader 4. Competitive spreads are available to top-tier account holders with zero commissions. This broker also offers some attractive extra features including daily trading signals and comprehensive educational content.

MT4, TradingCentral
Forex, ETFs, CFDs, Indices, Shares, Commodities, Cryptocurrencies
Visa, Venmo, PayPal, Neteller, Credit Card, Debit Card, Giropay, iDeal, Skrill, Sofort, Mastercard, Wire Transfer
Forex Trading

ForexTB offers CFDs on 50 forex pairs, most of which are crosses with USD, EUR, GBP or AUD. Spreads are wide for basic account holders, who are offered 3 pips on EUR/USD, but the top VIP members are offered the more competitive 1.6 pips on the same pair. All accounts are commission free, with no raw spread option.

Stock Trading

ForexTB offers a decent range of around 100 international stocks, which can be traded via CFDs. The range includes some significant global companies such as BNP Paribas and Alibaba as well as leading US stocks like Apple, Tesla and Microsoft. Leverage varies by stock, with up to 1:10 and 1:20 available.

CFD Trading

ForexTB CFDs are available on forex, commodities, indices, stocks, ETFs and cryptocurrencies, covering 300+ markets in total. The leverage available varies by instrument to a maximum of 1:30 as per EU regulations. Spreads are variable, with no raw spread account available.

Crypto Trading

ForexTB traders can dip into cryptocurrency markets with around 25 crypto CFDs, paired with USD, EUR and GBP. The tokens available include Bitcoin, Ethereum, Dash, and Litecoin. This is not the widest range of cryptos, but the chance to trade with 1:3 or 1:5 leverage may attract traders.

✓ Pros

  • Full range of investments including stocks, indices, forex, cryptos, commodities and ETFs
  • CFD trading tips, webinars and glossary
  • Daily signals and financial news
  • Automated trading supported
  • Rich education centre
  • Free demo account
  • MT4 trading platform
  • Trading Central

✗ Cons

  • Withdrawal fees on some methods
  • Limited customer support hours
  • Fairly wide spreads on some assets
  • Lack of copy trading
  • $20 inactivity fee

ForexTB is a Cyprus-regulated broker offering online trading through leveraged CFDs. Clients benefit from the leading MT4 trading platform and straightforward payment options. To find out whether to register for an account, read our 2024 review of FXTB, which covers their CySEC license, mobile app, withdrawal fees, and explains how to contact the customer support team.

ForexTB Headlines

ForexTB was created in 2015 and has offices in Cyprus. The brand is owned by Forex TB Limited and is licensed by the Cyprus Securities & Exchange Commission (CySEC) to provide trading services to clients throughout the European Economic Area (EEA) and Switzerland.

The brokerage offers access to most popular financial markets and boasts a particularly strong education center with various tips, tools and training materials for beginners.

Clients can get started with a $250 minimum deposit while four live accounts mean there is a solution for new investors plus high-volume, professional traders.

Trading Platforms

Clients can choose between two trading platforms. The first is a proprietary system developed by ForexTB for web-based trading, while the other is the industry standard – MetaTrader 4.

Web Trader

ForexTB’s web-based platform can be accessed directly from the broker’s website. The interface is clean and easy to navigate while offering one-click trading, six different chart types, plus a decent selection of indicators. Additionally, multiple graphing tools can be overlaid to analyze market sentiment. Users can also switch between a light and dark mode.

The only major drawback is the limited customization available. Still, our experts found that it is an intuitive platform with a clean look that will meet the needs of most new traders.

ForexTB platform review
ForexTB Web Trader

How To Place A Trade

To enter a position:

  1. Use the list of instruments in the left-hand menu to find an asset
  2. In the central widget, enter the trade details, including trade size and ‘Buy’ or ‘Sell’
  3. Select the ‘Trade’ button at the bottom to confirm the position
  4. Note, you can select the ‘Advanced trades’ tab to open a pending order with stop loss/take profit
Placing a trade on ForexTB platform
New Order


MetaTrader 4

MetaTrader 4 (MT4) is one of the most popular trading platforms for day trading forex. With a data-rich environment that is highly customizable, clients of all experience levels can effectively trade.

The platform boasts over 2000 technical indicators and 24 chart analysis tools, alongside detailed trading and asset histories. The system is also compatible with automated algorithms. In addition, users can toggle between 9 timeframes and open an unlimited number of charts. Three execution modes are available.

More experienced clients, in particular, will prefer to trade with MT4.

ForexTB MT4 trading platform
MetaTrader 4

Assets & Markets

ForexTB clients can trade over 300 financial assets. Products include 50 forex pairs, major corporation shares, ETFs, commodities including precious metals, energies and agricultural products, plus stock indices and cryptocurrencies.

Spreads & Commissions

ForexTB takes its cut from the spreads, which are competitive for VIP account holders at 1.6 pips on the EUR/USD and 2 pips on the GBP/USD. However, spreads are less competitive with the lower account tiers. For example, with the basic account, users get 3 pips on the EUR/USD and 3.4 pips on the GBP/USD, which is notably wider than competitors.

There is also a €20 charge for accounts inactive for over a month, plus a swap fee for positions that are held open overnight.

Finally, ForexTB charges withdrawal fees of 3.5% for payment cards and up to €30 for bank transfers once you’ve exhausted your free monthly withdrawals. For e-wallets this falls to 2% – 4.5%.

No commissions or deposit fees are charged.

ForexTB Leverage

Due to ESMA regulations, retail clients are restricted to leverage rates of 1:30. This is to prevent traders from magnifying their risk exposure.

With that said, professional traders at ForexTB benefit from leverage rates up to 1:400 plus negative balance protection.

Mobile App Review

ForexTB provides a mobile version of its custom Web Trader platform. The FXTB app is supported by iOS and Android-powered devices and can provide push notifications to ensure that no opportunity is missed. With the ability to open and close positions, analyze charts, and follow the prices of all tradeable assets, the mobile platform is functional and easy to use.

Alternatively, clients can download the MetaTrader 4 app. This user-friendly application is available on mobile and table devices and offers various drawing tools and graphs, plus support for EAs.

ForexTB mobile app review and ratings
MT4 Mobile App

Deposits & Withdrawals

ForexTB accounts can be funded and emptied using payment cards, e-wallets, and wire transfers. The broker accepts US Dollar, British Pound, Japanese Yen, Euro, and Russian Ruble.

The minimum deposit is $250 and payments are usually processed the same day, although this can take longer if incorrect documentation is provided upon withdrawal request.

While there are no fees for deposits, withdrawals can be costly if done frequently; each account type offers a certain number of free withdrawals before charges are applied. The Basic and Gold accounts comes with 1 free monthly withdrawal, the Platinum account offers 3 free monthly withdrawals. There are no withdrawal fees for VIP account holders.

Note, withdrawal methods are the same as deposits.

Demo Account Review

FXTB offers a demo account that allows traders to explore new strategies and try the two platforms available. With $100,000 of simulated money automatically available, there is no risk to your capital. Clients can then switch to a live money account on the broker’s official website.

Bonuses & Promotions

There are no promotions or deposit bonuses offered at the time of writing. There are, however, daily signals, market news, and an education center equipped with webinars, online lessons, ebooks, and a glossary of relevant terms.

Regulation & Licensing

ForexTB is operated by Forex TB Ltd, a Cypriot investment firm licensed and regulated by the Cyprus Securities & Exchange Commission (CySEC).

Authorized to provide services to clients within Switzerland and the EEA, though not Belgium, ForexTB builds the trust of its clients through transparency, with a large legal section on the website providing clear information about the company.

Additional Features

ForexTB has teamed up with Trading Central to provide in-depth market insights and information. Account holders can access market buzz, analyst views, featured ideas, economic insights, daily market analysis, and WebTV.

When we used ForexTB, we found the broker offers an expansive education section on its website, with different tips and advice for all experience levels. Complete with webinars, online lessons, articles, and ebooks, the education center caters to all types of learners. Video tutorials can also be found on their official YouTube page.

Beyond education, ForexTB offers daily signals and market news, a full economic calendar and an asset calculation tool that finds spreads, swaps, trade sizes, and fees in a few clicks.

ForexTB economic calendar
Economic Calendar

With the MT4 and ForexTB platforms comes the capability of automated trading, allowing investors to open and close positions based on pre-determined algorithms and market scenarios.

Furthermore, each investor has a dedicated account manager to answer questions and provide support.

ForexTB Accounts

There are four account types offered by FXTB, each aimed at investors with different needs. The leverage rates are the same for all account types, though professional and retail accounts differ.





Trading Hours

ForexTB is open for trading 24 hours a day, 5 days a week, with platforms accessible over the weekends for analysis and portfolio management. Trading hours also vary between assets.

Opening hours by asset are visible on the broker’s trading platforms.

Customer Support

Traders can contact ForexTB customer support using the online chat function on the right of the broker’s website. The live message and voice chat is only open during trading hours.

The customer support team can also be contacted by:

Security & Safety

ForexTB uses high standard PCI scans and 128-bit Secure Sockets Layer (SSL) encryption for any transmissions. All transactions are secured by firewalls, complex security systems, and two separate encryption methods.

Furthermore, the 3D Secure V2 standard is met for online payment card transactions. ForexTB also complies with all EU regulatory data protection laws.

ForexTB Verdict

The combination of platforms, tradable assets, and CySEC oversight puts ForexTB on the map. Customer reviews also praise the automated trading capabilities and daily signals. The only serious drawbacks are the withdrawal fees and wide spreads associated with standard account level. As a result, we’d recommend opting for a higher account level to get the cheapest withdrawals, tightest spreads, and free market insights.


Is ForexTB A Regulated And Trustworthy Broker?

The Cyprus Securities & Exchange Commission (CySEC) regulates ForexTB for operation in the European Economic Area (excluding Belgium and Switzerland). This coupled with positive user reviews makes them relatively safe to open an account with, though there is always a risk to capital when online investing.

What Is The Minimum Deposit To Create A ForexTB Account?

The minimum deposit is $250 for a Basic account; however, this rises to $25,000 for Gold accounts, $100,000 for Platinum accounts, and $250,000 for VIP accounts. The minimum trade size is 0.01 lots.

What Trading Platforms Does ForexTB Offer?

ForexTB clients can trade using either the highly regarded MetaTrader 4 or the broker’s proprietary Web Trader platform. The FXTB web-based platform is best suited to beginners while more advanced traders will likely want the customization and sophisticated features that come with MT4.

Does ForexTB Offer A Demo Account?

Yes, a free demo account can be opened with ForexTB. With $100,000 of notional money and a simulated market, the fully operational demo account is useful for exploring strategies, platforms and indicators.

Can I Open A ForexTB Account In The USA?

No, ForexTB is currently only licensed to offer trading services in Switzerland and the EEA, though not Belgium.

Top 3 Alternatives to ForexTB

Compare ForexTB with the top 3 similar brokers that accept traders from your location.

  1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
    Go to IG
  2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage for experienced traders, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
    Go to Interactive Brokers
  3. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
    Go to World Forex

ForexTB Comparison Table

Compare ForexTB With Similar Brokers
ForexTB IG Interactive Brokers World Forex
Rating 3.6 4.4 4.3 4
Markets Forex, ETFs, CFDs, Indices, Shares, Commodities, Cryptocurrencies CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts
Demo Account Yes Yes Yes Yes
Minimum Deposit $250 $0 $0 $1
Minimum Trade 0.01 Lots 0.01 Lots $100 0.01 Lots
Bonus 100% Deposit Bonus
Education No Yes Yes No
Platforms MT4, TradingCentral Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral Trader Workstation (TWS), Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral MT4, MT5
Leverage 1:30 (Retail), 1:400 (Professional) 1:30 (Retail), 1:250 (Pro) 1:50 1:1000
Payment Methods 12 6 6 10
Visit Visit Visit Visit
Review IG
Interactive Brokers
World Forex

Compare Trading Instruments

Compare the markets and instruments offered by ForexTB and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare ForexTB Trading Instruments
ForexTB IG Interactive Brokers World Forex
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes No Yes
Gold Yes Yes Yes Yes
Copper Yes Yes No No
Silver Yes Yes No Yes
Corn Yes No No No
Crypto Yes Yes Yes Yes
Futures No Yes Yes No
Options No Yes Yes No
ETFs Yes Yes Yes No
Bonds No Yes Yes No
Warrants No Yes Yes No
Spreadbetting No Yes No No
Volatility Index Yes Yes No No

ForexTB vs Other Brokers

Compare ForexTB with any other broker by selecting the other broker below.


Customer Reviews

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ForexTB is a CySEC-regulated multi-asset broker offering CFDs on more than 300 instruments through an intuitive web-based platform or MetaTrader 4. Competitive spreads are available to top-tier account holders with zero commissions. This broker also offers some attractive extra features including daily trading signals and comprehensive educational content.