FXTB Forex Broker Review (2020) – SCAM

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FXTB Logo

FXTB is a licensed Forex / Crypto CFD broker, that relaunched in May 2020. Their official website is at: https://www.ForexTB.com/eu/.

FXTB Forex Review

Our investigative review of FXTB finds that this CFD broker running on the user friendly, Scipio trading app. The trading app is well liked by new day traders and investors due to its simple interface and intuitive design. Experienced Forex traders will be able to download the industry standard MT4 trading platform.

We found that they offer over 250 underlying assets for trading, and they margin rates are limited to 30:1 as per the European Union laws. Traders will find CFD’s on Forex Pairs, Crypto Currencies, Individual Shares, Market Indexes, Oil and Gold. Spreads on BTCUSD was $37 at the time of this review.

As a European broker, FXTB’s website is localized into available in multiple languages including English, German, Spanish, Italian, Swedish, and Nederlands. You can have your trading account denominated in these currencies; USD, EUR & GBP.

Demo trading accounts are available at ForexTB, and the minimum deposit for a Basic level trading account is $250, see here.

FXTB Brokers Trading App
FXTB Brokers Trading App

Algorithm Trading Software

You may have seen an infomercial about an investing software that makes thousands of dollars a day. They go by names like Bitcoin Trader, Bitcoin Loophole and more.

Before using a trading robot, you should understand.

  1. Automated trading apps are not 100% accurate.
  2. Most people lose money when using a algorithm trading software.
  3. Most CFD broker are not authorized to give you investing advice.

You can read more about automated trading robots.

FXTB Account Types
FXTB Account Types

Is FXTB a Legit Broker?

When the Scam Broker Investigator reviews a new brokerage firm, to see if they are a legitimate broker or a scam, we look for a valid license. The primary regulators of Forex brokers worldwide, are government agencies like; FCA United Kingdom and FSB South Africa, see here.

  • European Union: Forex TB Limited, is licensed by CySEC (Cyprus Securities and Exchange Commission) license number 272/15. Address: 5 Alkaiou Street, Pelekanos Court No. 16, Office 301, Engomi, 2404 Nicosia, Cyprus. Contact phone number in Cyprus is: +35722222353, and the customer service email address is: [email protected]

There are many reasons why investors should only trade with a licensed broker, and if you want to see what happens and scam brokers, just read the complaints page.

 

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