FXTB Review

What is FXTB?

ForexTB (FXTB) is an STP broker based in Cyprus since 2015. FXTB is operated by Forex TB Limited, a Cyprus Investment Firm, authorized and regulated by the Cyprus Securities and Exchange Commission. The broker offers good trading experience through its platforms and aims to Uphold strict industry regulatory compliance requirements throughout every aspect of its operations. 

Therefore you’re trading with a trustable partner which will treat you fairly, and this is a crucial point as the majority of offshore brokers can not provide reasonable trustability that is the reason we advise avoiding them at all costs. Further, in our FXTB review, we will see more of the details and conditions FXTB proposes so that you’ll be able to decide whether this broker is good for you.

What Type of Broker is FXTB?

FXTB is an STP Forex Broker also with high standards of secure trading environment, as of the regulation it imposes. The offering to the clients is wide and even comprehensive since it proposes the same if not more investment opportunities to the world trading community.

FXTB Pros and Cons

FXTB is a regulated broker with good costs and tailored solutions, account opening is smooth and fully digital. The beginning traders can benefit from free educational tools.

The FXTB drawback is the withdrawal fees and wide spreads associated with standard account levels. Also, the range of instruments is limited to FX and CFDs.

Overall FXTB Ranking

Our experts have determined that FXTB is a great broker, providing reliable service and highly conducive trading conditions perfect for traders of all levels. Whether novice or veteran, customers can expect nothing but the best from this excellent provider.

• FXTB Overall Ranking is 8.1 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.

FXTB Alternative Brokers

However, XTB instrument offer is mainly limited to Forex and CFDs and spreads are higher. Even though platforms and education are really good at FXTB, it is good to consider other brokers too, see our selection of Alternative Brokers below:

• Dukascopy – Excellent for Shares, Futures Trading
• XM – Low spreads Trading
• InteractiveBrokers – Good for US Trading and Trading of Real Stocks

Is FXTB safe or scam?

No, FXTB is not a scam but a regulated broker with lower risk for Forex and CFD trading. FXTB is operated by Forex TB Limited, a Cyprus Investment Firm, authorized and regulated by the Cyprus Securities and Exchange Commission with CIF license number 272/15. In simple words that means the broker is legit and fully authorized to offer its trading solution within Cyprus, the EU, and beyond due to cross-border registrations.

Our Conclusion on FXTB Reliability:

• Our FXTB Trust Score is 8.7 out of 10 reflecting the broker’s trustworthiness and quality service. Being supervised by a highly reputable regulator, FXTB provides a robust trading environment ensuring traders’ safety

Is FXTB legit?

As a regulated company, FXTB is governed by strict rules and regulations which are in place to ensure they continuously comply with their operating conditions during the provision of their services, and which are designed to enhance the protection of investors while promoting stable and orderly financial markets.

• Forex TB Limited offers services within the European Economic Area (excluding Belgium) and Switzerland.

The above-mentioned regulation CySEC is a transposition of MiFID European Law which operates under ESMA that contributes to safeguarding the stability of the European Union’s financial system and enhancing the protection of investors and financial market stability.

How are you protected?

All client funds are stored in segregated accounts and are fully insured to give traders extra assurances surrounding the safety of funds. Furthermore, the broker is a member of the Investor Compensation Fund, adding a layer of protection. To ensure clients are prepared to enter the market and make sound decisions, the platform also provides trading support in the form of alerts and charts along with extensive customer service for users.

Leverage

FXTB Leverage enables trading with a bigger exposure to markets compared to your initial balance. Usually presented as a ratio of leverage levels also adhere to regulatory restrictions, since retail traders may fall into high risk without proper knowledge of how to use tools smartly.

Therefore, because of the involved possible risks, recent regulatory updates from the European regulators and CySEC in particular lowered the maximum leverage levels available for retail account holders.

• The maximum leverage for retail traders is 1:30 for major currency pairs, 1:10 for Commodities

FXTB Accounts

FXTB offers four account types that also define trading conditions. Each of them is designed to suit particular trading needs and proposes a personalized trading experience. There are four Account types – Basic, Gold, Platinum, and VIP that are designed for traders who are just starting, those that have trading skills already, and seasoned traders respectively.

Each of these accounts differs in terms of features such as the spreads offered and the minimum deposit needed to trade. You need to choose the account that is most suited to your needs. All accounts feature the same competitive trading conditions and available services, they only differ depending on the withdrawal fees offered by the broker.

Trading Instruments

FXTB trading instrument range offers over 300 desirable financial assets to choose from. At ForexTB, you can dive into global markets, and trade CFDs on Forex assets, such as EUR/USD, GBP/USD, or trade CFDs on Commodities such as gold, silver, and crude oil.

Moreover, you can trade CFDs on stocks of tycoon corporations such as Apple, Alphabet, and Facebook, in addition to the largest Indices such as NASDAQ, S&P 500, and FTSE 100.

FXTB Fees

FXTB fees and spreads which the broker offers for its trading solution where pricing are depending on the account type you use, as well as what trading size you operate. In addition, check the full fees in the table below including funding fees and non trading fees.

Nontrading fees

The broker also charges an inactivity fee. If there are no transactions (deposits, withdrawals, or trading activity) on your Trading Account for at least one (1) month or more, FXTB reserves the right, to charge a monthly inactivity fee on your Trading Account, in return for the provision of the continued availability of your Trading Account.

Spreads

FXTB Spreads offer is considered high. For a basic account user, the spread for the EUR/USD pair is 3 pips, whereas, for a VIP account, the fee decreases to 1.8 pips. However, the broker does charge an inactivity fee for accounts left dormant for more than a month.

Also, always consider overnight charges or swaps in case you’re holding the position for longer than a day. It is always defined by the instrument you trade and may be visible either through a website or platform while trading. See the example on the snap above.

See some of the FXTB spread examples below, also you may compare fees to other popular brokers.

• FXTB Spreads are ranked 7.3 out of 10 based on our research and comparison with other brokers. We found out that the spreads for EUR/USD offered by FXTB are much higher than the industry average which is 1.2 pips based on our research.

Deposits and Withdrawal Methods

Another crucial factor while selecting a Forex broker is to see how to transfer money to or from your trading account. Obviously, regulated brokers adhere to best practices and are regulated by their authority in terms of money management.

Deposit fees and Options

To deposit with FXTB, log in to your account, and then click on the Deposit button. There are multiple deposit methods you can choose from. You can deposit using one of the following methods:

1. Credit Card
2. Electronic Payment
3. Wire Transfer

What is also great, is there are no charges for deposits so you won’t pay any commission, however always define it with your payment provider or Bank itself as an international rule varying from one jurisdiction to another.

• FXTB Funding Methods are ranked 8 out of 10. The broker does offer a great variety of funding methods with low fees and several currency bases. However, the minimum deposit is slightly above the industry average which, based on our research, is up to $100.

FXTB Minimum deposit requirement

FXTB minimum deposit is EUR250 allowing you to open a Basic account. Higher-grade accounts will require more money, as designed for traders with experience.

FXTB minimum deposit vs other brokers

	FXTB	Most Other Brokers
Minimum Deposit	$250	$500

FXTB Money Withdrawal

For making a withdrawal, simply log in to your account, click on the Banking tab, then on the Withdrawal tab. Enter the amount you wish to withdraw and click on the Next button. Fill in the required fields and then click on the Submit button.

FXTB withdrawal charges vary with the type of account you have. For VIP account holders every withdrawal is free. Platinum account holders can make 3 withdrawals for free each month. Gold account members can make one withdrawal for free each month. Basic account holders can make one withdrawal for free, with charges each time you withdraw from then on.

Trading Platforms

FXTB trading platform or the software which you will use for transactions and the trading process itself is a choice either between WebTrader or a popular industry MetaTrader4.

• FXTB Trading Platforms range is ranked 8.7 out of 10 based on our research. The broker has a great variety of trading platforms offering industry-leading platforms ensuring both the quality trading experience and the safety of their clients.

Web Trader

While WebTrader is obviously a Web Trading platform based on the MT4 engine, it means you may access trading software without a need to install or program anything on your PC. Also, it means you can access trading from any device just by logging in to your trading account through a browser resulting in great accessibility.

• However, Web Trading platforms are always limited with the customization and a range of trading tools, it is easy to use, but if you require comprehensive trading portfolio adjustments and specifications you better go for the desktop version.

Meta Trader 4 (MT4)

MetaTrader4 desktop platform is available for download and installation on any device including PC and MAC. The installation and specification of the MT4 allow you full customization and safety of your working layout, which is very useful. Besides, specifically, the desktop version is a great feature for professional and active traders, as it’s packed with advanced tools with no limitation over the strategies.

• This platform, available through ForexTB, offers traders three separate chart types, and over fifty technical indicators, and you can personally customize it.

With MetaTrader4, you can now monitor the market closely and have a better decision on when to open positions with Forex and other CFDs.

Mobile Trading Platform

The mobile app is also offered, while apps are simple to use and offer a wide range of tools at the same time. MT4 mobile offers various charting capabilities and customization which is fantastic for mobile trading along with full management of your account.

Customer Service

FXTB customer support provides you with support through live chat, email, and phone in various languages (English, German, Dutch, Italian, Spanish, Swedish, Polish). The support team is available from 9 AM till 6 PM (GMT) only on weekdays.

• Customer Support in FXTB is ranked 9 out of 10 based on our testing. We got some of the fastest and most knowledgeable responses compared to other brokers, the main drawback is that it is not available during the weekends

See our find and Ranking on Customer Service Quality:

FXTB Education

FXTB users gain access to educational material such as Webinars, Videos, guides, TipRanks, Trading eBooks, and CFD Trading Tips. 

• In its Trading Central section customers can find Daily Market Analysis, Economic Calendar, and Market Updates, receive Strategy Newsletters, and get access to the TC Research platform and Web TV depending on the account type. 

In addition to all of this, the broker offers an asset calculation tool that finds spreads, swaps, trade sizes, and fees in a few clicks.

• FXTM Education ranked 9 out of 10 based on our research. The broker provides very good quality Education Materials, and excellent research also cooperates with market-leading providers of data, and provides free Webinars, Excellent Trading videos, and Analysis

FXTB Review Conclusion

Overall, FXTB proposes quality trading with flexible conditions, platforms, and instruments. It offers its clients the opportunity to trade a range of financial instruments, including currency pairs, indices, commodities, and shares. Another good point is that FXTB is regulated by the European CySEC aligned with the MiFID directive, meaning the broker falls under protective measures. We recommend opting for a higher account level to get the cheapest withdrawals, the tightest spreads, and free daily signals.

Based on Our findings and Financial Expert Opinion FXTB is Good for:

• Currency Trading and CFD Trading
• Traders who look for Autochartist and Trading Central Research included
• Beginners and Professional Traders
• Algorithmic or API Traders
• EAs running
• Copy Trading
• Scalping / Hedging Startegies
• Traders who prefer MT4 platform