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Forex Broker Review: ForexBroker Inc

ForexBroker Inc. ReviewForexBroker Inc. Review (US Traders)

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FOREX BROKER INC. GENERAL INFORMATION

■ Found: ForexBroker Inc. was found in 2012

■ Headquarters: ForexBroker Inc. has offices in Malta and in Belize (Central America)

■ US Residents: ForexBroker Inc. allows traders from US -YES-

■ Islamic Accounts: -NO-

■ Regulated: ForexBroker Inc. is regulated by MiFID (EU) -Pending regulation by the Malta Financial Services Authority

■ Segregated Accounts: ForexBroker Inc. provides Segregated Client Accounts -YES-

■ Languages: ForexBroker Inc. website supports only English

FOREX BROKER INC. TRADING INFO SUMMARY

■ Broker Type: ECN (45+ Forex Currencies)

■ CFD Trading: YES (16 assets)

■ Platforms: ForexBroker Inc. offers MetaTrader4 and SIRIX web trader plus an HTML5 app for all mobile devices and the SIRIX Tablet Platform

■ Trading Time Zone: GMT+2

■ Demo Account: ForexBroker Inc. provides a Demo Trading Account -YES-

■ Typical EUR/USD Spread: Minimum EUR/USD spread is 0.3 pips and Typical is 1.9 pips

■ Trading Commissions: Accounts without trading commissions and other Accounts with 1 pip commissions charged

■ Leverage: Leverage at ForexBroker Inc. up to 500:1

■ Scalping / Hedging: Allowed at ForexBroker Inc. -YES-

■ Bonus / Rebate: ForexBroker Inc. at the moment of the review offers Deposit Bonus up to 100%

■ Minimum Account: $5

 

FOREXBROKER INC. TRADING ASSETS

FOREX BROKER INC. ASSET INDEX

ForexBroker Inc. is providing:

? A wide variety of Forex Currency Pairs (45+)

? CFD Trading (16 assets including metals and energy)

Table with Currency Pairs (alphabetical order)

AUDCAD

NZDUSD

EURHUF

USDRUB

GBPUSD

AUDNZD

USDCZK

EURNZD

USDTRY

NZDJPY

CADJPY

USDHUF

EURTRY

AUDJPY

USDCHF

EURCAD

USDMXN

GBPCAD

CADCHF

USDHKD

EURGBP

USDRON

GBPNZD

EURAUD

USDJPY

EURNOK

USDSGD

NZDCHF

EURDKK

USDPLN

EURSEK

AUDCHF

USDCAD

EURJPY

USDSEK

GBPAUD

AUDUSD

USDDKK

EURPLN

USDZAR

GBPJPY

CHFJPY

USDILS

EURUSD

 

NZDCAD

EURCHF

USDNOK

GBPCHF

 

SPREAD, COMMISSIONS & LEVERAGE

FOREX BROKER INC. TRADING SPREAD & COMMISSIONS

? ForexBroker Inc. Spread on EUR/USD 0.3 pips to 1 pip

? ForexBroker Inc. charges commissions from 0 to 1.5 pip

Basically, the broker charges o.3 pip spread and 1 pip trading commissions. Check the table of Spread & Commissions below at the NEW ACCOUNT INFORMATION section of this review.

FOREX BROKER INC. TRADING LEVERAGE

Leverage at ForexBroker Inc. can be up to 500:1

TRADING PLATFORM & MOBILE

FOREX BROKER INC. TRADING PLATFORM

ForexBroker Inc. is offering 2 Trading Platforms plus mobile and Tablet Trading Platforms:

1. MetaTrader 4

2. SIRIX Web-Trader

- Demo account is available at ForexBroker Inc.

ForexBroker Inc. MetaTrader4 Features

- Automated Trading (Expert Advisors)

- 50 indicators and charting package

- History database management

- Internal mailing system

- Built-in-News System

FOREX BROKER INC. MOBILE TRADING

The Broker offers an HTML 5 app which operates on almost all mobile devices:

1) iPhone 3GS (and above)

2) Android 2.2 (and above)

3) Windows Mobile

4) Nokia Symbian Mobile

5) Blackberry Mobile

Features:

- The mobile app is fully synchronized with the FB Webtrader and FB MT4

- Internal Mailing

NEW ACCOUNT INFORMATION

ForexBroker Inc. Minimum Account:

The minimum initial deposit required for opening an account on ForexBroker Inc. is 5 USD.

Deposit Withdrawal Fees: No Fees -No-

Account Currencies: Accounts at ForexBroker Inc. may be held in EUR, USD, JPY

Table: ForexBrokerInc. Account Types

 

GOLD ECN ACCOUNT

PLATINUM ACCOUNT

PLATINUM ECN ACCOUNT

Min Deposit

5 USD

5 USD

5 USD

Max Deposit

10,000 USD

-

-

Lot

1 micro Lot

1standard Lot

1standard Lot

Max Leverage

(500:1)

(200:1)

(200:1)

Min Spreads

0.3

1.0

0.3

Commission

1.5 pip

None

1 pip

Hedging

Yes

Yes

Yes

Deposit Currency

EUR, USD, JPY

EUR, USD, JPY

EUR, USD, JPY

Margin Call Level

100%

100%

100%

Stop out Level

20%

20%

20%

ForexBroker Inc. Deposit Methods:

- Bank Wire Transfer

- Credit / Debit Cards

ForexBroker Inc. Withdrawal Methods:

- Bank Wire Transfer

- Credit / Debit Cards

FOREXBROKER INC. BONUS

ForexBroker Inc. offers Bonus up to 100%

FOREX BROKER INC. NEW ACCOUNT DOCUMENTATION

ForexBroker Inc. will demand the below documentation for new Real Accounts:

1. Copy of passport or other official state ID

2. Recent utility bill (Address Verification)

3. Copy of the back & the front of card used (You may blank out the first 12 digits on the front, and the 3 digits security code on the back)

CONTACT INFORMATION

ForexBroker Inc. Registered Address of Head Offices:

Suite102, Corner EyreHudson, Belize City, Belize

Malta Satellite Office: +356-3550 0072

Phone Support:

USA toll Free Phone Line: 347 901 4943

Email Support:

Support Desk: This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

Backoffice Desk: This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

Dealing Desk: This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

Complaints/Feedback: This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

Accounting email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

FOREX BROKER INC. PROS AND CONS (According to competition)

FOREX BROKER INC. REVIEW CONCLUSIONS

FOREX BROKER INC. REVIEW PROS

FOREX BROKER INC. REVIEW CONS

? Allows US Traders

? Reasonable Trading Terms (minimum spread 0.3 pip and commissions 1 pip)

? Pending Orders, Scalping, Hedging, One-Click Trading and Trailing Stops availability

? Automated Trading and API trading

? Deposit Bonus up to 100% and Roll Tournament

? Segregated Client Accounts

? Good 24/5 support, eMail, Phone and Live Chat

X Relative new company

X For Long and SWING traders SWAP charges are relatively high

HotForex Analysis

ForexBroker Inc. Review Conclusion:

ForexBrokerInc. is a relative new ECN Forex broker with interesting trading terms. The broker is NFA compliant and thus accepts traders from the US. ForexBrokerInc. is regulated only by MiFID (EU) at the moment. ForexBrokerInc. offers two main trading platforms (MT4 and Sirix web-trader), an HTML app compatible with all mobile devices and a SIRIX tablet platform. They allow scalping, hedging and automated trading while they support all-important order types (pending orders, trailing stops etc). They execution is considerably fast without price manipulation and orders are executed in low slippage. They offer more than 45 currency pairs plus CFD trading. ForexBrokerInc. offers 3 account types and charges either fixed or variable spreads. In general, they charge 1.9 pip spread on EURUSD without commissions. They offer also tighter spread (0.3 pip) on accounts that they charge trading commissions of 1 pip. They do not charge deposit or withdrawal commissions, while their client funds are held in segregated accounts, as it should. There account currencies include EUR, USD and JPY and their deposit bonus policy at the moment is 100% (including all type of traders). In overall, ForexBrokerInc. is a very interesting new broker and certainly one of the best choices for US traders.

 

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ForexBroker Inc. Review

 

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