Forex TB 2025 Review: Everything You Need to Know
In this comprehensive review of Forex TB, we delve into user experiences, expert opinions, and key features of this broker. Overall, Forex TB has received mixed reviews, with some users praising its trading platform and customer service, while others express concerns over withdrawal issues and high spreads. Notably, its regulation by the Cyprus Securities and Exchange Commission (CySEC) adds a layer of credibility, but potential users should remain cautious due to the varying experiences reported across different regions.
Note: It is essential to consider that Forex TB operates under different entities in various regions, which can significantly impact user experience and regulatory protections. This review aims to provide a balanced perspective based on the most reliable sources available.
Ratings Overview
How We Rated the Broker: The ratings are derived from a combination of user feedback, expert reviews, and factual data about Forex TB's services.
Broker Overview
Founded in 2015, Forex TB is a Cyprus-based broker regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 272/15. The broker primarily caters to clients in the European Economic Area (EEA) and Switzerland, offering a range of financial instruments, including Forex, CFDs, commodities, indices, and cryptocurrencies. Forex TB provides access to trading via the popular MetaTrader 4 (MT4) platform, as well as its proprietary web-based platform, known as WebTrader.
Regulated Areas
Forex TB operates mainly in the EEA, excluding Belgium, and does not accept clients from the United States, Canada, or Australia. This regulatory framework helps ensure a certain level of protection for traders, although users outside the EEA may not benefit from the same protections.
Deposit/Withdrawal Currencies
Forex TB accepts deposits in several currencies, including USD, EUR, and GBP. Additionally, the broker supports various payment methods, including credit/debit cards, electronic wallets like PayPal, Neteller, and Skrill, as well as bank wire transfers.
Minimum Deposit
The minimum deposit required to open an account with Forex TB is $250, which is relatively standard in the industry. However, higher-tier accounts require significantly larger deposits, such as $25,000 for the Gold account and $250,000 for the VIP account.
Currently, Forex TB does not offer any bonuses or promotional incentives, which may be a drawback for some traders looking for additional value.
Tradeable Asset Classes
Forex TB provides a diverse range of tradeable assets, including over 50 currency pairs, commodities like gold and silver, stock CFDs, and various indices. However, the selection may not be as extensive as some competitors, which could limit trading opportunities for some users.
Costs (Spreads, Fees, Commissions)
Spreads at Forex TB vary depending on the account type. The Basic account typically has spreads starting at 3.2 pips for major pairs like EUR/USD, while the VIP account can offer spreads as low as 1.8 pips. Additionally, users should be aware of potential withdrawal fees, especially after the first free withdrawal per month. Forex TB also imposes an inactivity fee of €80 after one month of no trading activity.
Leverage
For retail clients, Forex TB offers a maximum leverage of 1:30, in line with European regulations. Professional clients may access higher leverage of up to 1:400, which can amplify both potential profits and losses.
Forex TB supports both the MT4 platform and its proprietary WebTrader, providing flexibility for traders. While MT4 is favored for its advanced features and customization options, WebTrader is designed for ease of use, especially for beginners.
Restricted Areas
Forex TB does not accept clients from several countries, including the US, Canada, and Australia, which may limit its accessibility for some traders.
Available Customer Service Languages
Forex TB offers customer support in multiple languages, including English, Spanish, German, and Polish, which can enhance the user experience for non-English speaking clients.
Repeated Ratings Overview
Detailed Breakdown
- Account Conditions: Forex TB offers four account types, with varying minimum deposits and spreads. However, the high minimum deposit for premium accounts may deter beginners.
- Tools and Resources: The broker provides access to Trading Central for market analysis, but educational resources could be more comprehensive.
- Customer Service and Support: Forex TB's customer service is available through email and phone, but the lack of live chat may hinder prompt assistance.
- Trading Setup (Experience): User experiences vary, with some praising the execution speed while others report issues with withdrawals.
- Trustworthiness: Regulated by CySEC, Forex TB has a level of credibility, but the €270,000 settlement for regulatory violations raises concerns about its operational practices.
- User Experience: Feedback is mixed, with some users reporting satisfaction while others express frustration over withdrawal processes.
In conclusion, while Forex TB presents itself as a credible option for traders, potential users should carefully consider their individual needs and the experiences reported by others before proceeding. As always, ensure you fully understand the risks associated with trading and only invest what you can afford to lose.
