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Review of FXTB
Users of FXTB can trade using the popular Web Trader and MetaTrader 4 trading platforms for a full trading experience, and also access a range of educational content to hone their trading abilities. This review takes you through everything you need to know.
Pros & Cons
Pros:
Cons:
What can I do with FXTB?
With FXTB you can trade a wide number of CFDs across 6 asset classes, including forex pairs, commodities, stocks, indices, and cryptocurrencies. Using either the Web Trader or MT4 platform, users can trade on any device.
FXTB was established in 2015, and is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). Despite being a relatively new service, the platform already has thousands of active traders on its platform.
FXTB markets, assets, and trading options
What assets and products can you trade on FXTB?
FXTB lets you trade over 300 CFDs, including major forex pairs like EUR/USD, stocks such as Amazon and Facebook, as well as major indices and commodities.
Here is a quick summary of the different assets you can trade.
| Product | Offering |
|---|---|
| Forex | 60 |
| Cryptocurrency | 10 |
| Stocks | 50 |
| Indices | Variable |
| Commodities | 4 |
| ETFs | Variable |
What leverage trading options are there?
FXTB offers leverage on forex trades starting at 1:30 for retail clients, all the way up to 1:400 for professional traders. This means that unless you sign up for a VIP account, you’ll be limited to lower leverage than you can typically find with other brokers. The leverage available for products beyond forex on FXTB is variable.
Please keep in mind that trading with leverage carries additional risk and should only be done once you have gained at least some trading experience.
| Product (CFDs) | Maximum leverage | Margin |
|---|---|---|
| Forex | 1:400 (1:30 with standard account) | 0.02% (3.3% with standard account) |
| Cryptocurrency | Variable | Variable |
| Commodities | Variable | Variable |
| Stocks | Variable | Variable |
| Indices | Variable | Variable |
| ETFs | Variable | Variable |
What are the spreads?
FXTB offers floating spreads as low as 1.4 pips for major forex pairs with a VIP account. This is on par with other brokers in the industry, but on the higher end for basic account holders.
Below are the average spreads that regular users can expect on FXTB’s trading platform.
| Product | Average spread | Fixed or variable? |
|---|---|---|
| Forex | 2.8 pips | Variable |
| Commodities | $0.12 | Variable |
| Stocks | Variable | Variable |
| Indices | Variable | Variable |
| Cryptocurrency | Variable | Variable |
| ETFs | Variable | Variable |
Fees, limits, and payment options on FXTB
What are the deposit and withdrawal fees, limits, and speeds?
FXTB lets you make debit/credit card deposits/withdrawals and wire transfers. All deposits are free, but withdrawal charges will vary depending on the type of account you have.
| Payment method | Deposit | Withdraw |
|---|---|---|
| Debit/Credit card – min/max – fees – speed | Yes $250/None Free 1 business day | Yes None/None 3.5% 2-3 business days |
| Wire Transfer – min/max – fees – speed | Yes $250/None Applicable bank charges 2-3 business days | Yes $100/None $30 4-5 business days |
How much are FXTB’s fees and commissions?
FXTB does not charge any fixed commissions but instead makes money on every transaction through variable spreads. This is common among online brokers, so be sure to pay attention to the spreads being applied whenever a service advertises itself as having ‘no fees.’ Here’s what you need to know about commissions and fees.
| Fee type | Fee amount | Commission |
|---|---|---|
| Forex | None | 2.8 pip spread |
| Commodities | $0.12 | None |
| Stocks | Variable | Variable |
| Indices | Variable | Variable |
| Cryptocurrency | Variable | Variable |
| ETFs | Variable | Variable |
FXTB trade sizes and limits
As a minimum trade size, FXTB allows you to trade the smallest possible CFD micro lot size: 0.01 lots. This is standard among CFD brokers, and is one of the principal advantages of trading using CFDs. The platform doesn’t have any stated maximum trading limits.
| Product | Minimum trade | Maximum trade |
|---|---|---|
| Forex | 0.01 lots | No limit |
| Cryptocurrency | 0.01 lots | No limit |
| Stocks | 0.01 lots | No limit |
| Commodities | 0.01 lots | No limit |
| Indices | 0.01 lots | No limit |
| ETFs | 0.01 lots | No limit |
FXTB trading platform
What devices can I use FXTB on?
You can use FXTB on any internet-enabled device. The platform offers the widely used Web Trader and MetaTrader 4 trading platforms, which are available in the web browser, on your desktop or as an app on your iOS or Android mobile device. This means you can access the platform through:
- Web browser
- Desktop computers
- Laptops
- Tablets
- iOS Mobile Devices
- Android Mobile Devices
Can I use FXTB in my country?
FXTB is available in over 50 countries worldwide, except those that restrict CFD trading such as the United States and Canada. Select your country from the list below to see if it is available where you are.
Is FXTB available in my language?
FXTB currently supports 7 languages: English, German, Spanish, Italian, Dutch, Swedish, and Polish.
How easy is it to use FXTB?
FXTB is simple and intuitive to use. The platform makes it easy to get started with a streamlined sign-up process for a live account or you can even opt for a free demo to familiarise yourself with their trading services.
The customised Web Trader and MetaTrader 4 trading platforms which FXTB provides have a familiar feel to them and are accessible via web browser, desktop or as an app on your mobile device. The customised mobile interface have a seamless design, including one-click trading to help you save time and execute your trade setups faster.
Key features
FXTB is a new and upcoming CFD broker with multiple features and qualities to take advantage of. Here are our three favourite aspects of the platform.
Asset Calculator
FXTB has a proprietary cost calculation tool that enables you to enter the details of your trade: account type, the asset you are trading, trade size, even trade duration and it will calculate your spread and swap cost (if placing an overnight trade).
Trading Central
The platform has an educational section meant to be referenced by traders on a daily basis. It contains a daily market analysis for any given day, top-down, actionable analyst views, and even a featured ideas sub-section providing both long and short investment ideas supported by backtested technical analysis.
Multi-Device Trading
Via the customised Web Trader and MetaTrader 4 trading platforms, users can access the platform anytime from anywhere. Including via the web, by downloading onto your desktop, or via your iOS or Android mobile device.
Security and regulation
Is FXTB safe?
FXTB has a range of measures in place to make sure its platform is secure. The platform protects your private information using the most up-to-date hi-tech techniques on the market, such as 128bit SSL encryption on all transactions.
Am I and my funds protected?
Any funds deposited with FXTB are protected under CySEC regulation. The platform is a registered member of the Cyprus Securities and Exchange Commission’s Investor Compensation Fund (ICF), which insures client’s deposits up to €20,000 or 90% of a covered investor’s claim, whichever is lower.
Additionally, all client funds are stored in segregated accounts to give traders extra assurance of the safety of their funds.
Is FXTB regulated?
Yes, FXTB is a licensed and regulated broker by the Cyprus Securities and Exchange Commission (CySEC) under license number 272/15.
Do I have to verify my account with FXTB?
Yes, all clients need to indicate their real name when signing up and also ensure that their personal information matches that indicated on their identification documents for anti-money laundering purposes.
Extra information
Educational resources
The broker offers a wide range of educational resources on its website, much more so than many other CFD brokers. These include CFD trading tips, both technical and fundamental analysis sub-sections, and its ‘Trading Central’ section. This is a section of the website dedicated to daily market analysis and economic insights, enabling you to stay up-to-date with what’s happening across markets while also getting actionable trade ideas.
Tools and charting
FXTB offers the popular Web Trader and MetaTrader 4 trading platforms, which means a range of tools and chart options are available, including over 2,000 free personal trade indicators, various Gann and Fibonacci analysis objects, and an unlimited number of charts with 9 different time frames from one minute to one month.
Customer support
FXTB offers three simple support options: Phone (although without any business hours specified), email, and live chat directly in your web browser.
Our verdict
FXTB is a regulated CFD broker offering the widely used Web Trader and MetaTrader 4 platforms, and over 300 tradable instruments across 6 asset classes. Which is a well-sized offering for a CFD broker.
It provides several account options depending on the size of your initial deposit from a basic retail account with up to 1:30 leverage with a minimum deposit of $250, up to a VIP account with an initial deposit of $250,000 and tighter spreads along with up to 1:400 leverage.
There is also an option to ply your trading strategy with a free demo account before moving to the live experience. If you are brand new to trading, this makes a considerable difference, as many traders that have gone on to experience success used demo accounts to get their start.
FXTB also does a good job of providing would-be and established traders with plenty of educational resources, whether its daily market analysis or other technical analysis tips. Overall, the broker leaves a bit to be desired when it comes to spreads and withdrawal fees for the basic retail account, as they are slightly higher than at other brokers – but otherwise the platform provides a solid, well-balanced offering.
How to open an account with FXTB
- Click on the ‘Sign Up’ on the homepage
- Fill in all the details and follow the steps required to complete the sign-up process
- You need to verify your email address and then your account by uploading your personal identification documents
- Once verified, make a minimum deposit of $250 and start trading
FXTB is owned and operated by Forex TB Limited, a Cyprus-based investment firm.
FXTB makes money on trading spreads which it charges on every transaction. It also charges swap fees for overnight trades and withdrawal fees every time you take money out of your trading account.
Taxation depends on your country of residence. It is likely you will owe some tax on profits made from trading, but it is advisable to check the tax regulations in your country to determine any tax applicable to you.
Yes, FXTB is a CFD broker offering access to 300 instruments across 6 asset classes.
Simply log into your trading dashboard, select the trade you would like to close and click on the “Sell” button once you have selected the quantity and price you would like to sell at.
To delete your trading account, simply send a formal email request to the FXTB support team and they will provide you the steps you need to take in order to close your account.
Since FXTB only offers CFDs, shorting is as simple as going to the Market Watch tab in your trading dashboard and clicking “Sell at Market”.
Click on ‘Login’ and at the bottom is the ‘forgot password?’ option. Clicking on that will reset your password and the system will email you the temporary password to your registered email address.
No, FXTB does not currently support PayPal as a payment option.
All your open trades are processed in real-time and will be visible in your trade history. You can access them once you log into the MetaTrader 4 platform again.
In the event that FXTB ceases operations altogether, it is a registered member of the Cyprus Securities and Exchange Commission’s Investor Compensation Fund (ICF), which insures client’s deposits up to €20,000 or 90% of a covered investor’s claim, whichever is lower.
Yes, to see your full trade history, simply log in to your trading dashboard and go to the “terminal” window, where you would normally see your account balance. Choose the “Account history” tab at the bottom and right-click to choose custom dates or save the reports to your computer.
No, FXTB does not accept direct payments in cryptocurrency at this time. But it does, however, provide CFDs to trade in cryptocurrencies.
No trading bonuses are currently offered.
