According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $50
- MetaTrader4
- TickTrader
- FSA
- 2007
Our Evaluation of Forex.ee
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Forex.ee is a broker with higher-than-average risk and the TU Overall Score of 4.34 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Forex.ee clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Forex.ee specializes in currency pairs, thus the choice of CFDs is limited. Also, the broker is suitable for copy trading, investing in PAMM accounts, and margin and algorithmic trading.
Brief Look at Forex.ee
Forex.ee is a Forex broker that has been operating since 2004. Since 2013, it has been using STP (Straight-Through Processing) and ECN (Electronic Communication Network) models, which allow its clients to trade in comfortable conditions without the participation of dealers, at the best prices from liquidity providers, and with a high processing speed. Forex.ee is focused on trades with currency pairs, but it also offers access to markets of stocks, cryptocurrencies, and commodities. This broker offers bonus programs, trading with leverage, and rewards for partners.
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- Minimum deposit is $10 for cryptocurrencies, $50 for STP, and $200 for ECN accounts;
- Scalping, high-speed trading, and algorithmic trading are allowed;
- Tight market spreads on all account types;
- Possibility to trade with a $1 fee on ECN accounts;
- Leverage is up to 1:500 for currency pairs and metals;
- PAMM accounts are available;
- Access to signals from MQL4.community with compensation for the first month’s subscription.
- No license from a reputable financial supervisory commission;
- Small choice of payment systems, especially e-wallets;
- The range of trading assets is not as rich as that of other Forex brokers.
TU Expert Advice
Financial expert and analyst at Traders Union
The project started in 1998, but it became a full-fledged brokerage company only in 2004. Since then, it has been actively developing, expanding its list of available trading instruments, adding new payment systems, etc. In 2014, as a result of a complete rebranding, a new Forex.ee website appeared with convenient management and online support. A year later, the company introduced an updated user account with more well-thought-out functionality.
In 2015, Forex.ee offered crypto as a new account type. With it, traders can trade cryptocurrencies using ECN technology and leverage up to 1:3. Currently, the company does not provide for trading stock indices, and the choice of commodities is also limited. However, Forex.ee has a good range of currencies and cryptocurrencies. Moreover, you can execute trades with metals and CFDs on stocks.
Traders can register only one e-wallet with Forex.ee, and add an unlimited number of trading accounts in different currencies to it. Funds can then be transferred between accounts without a fee. Payment processing is completed within 24-48 hours. Funds deposited with a bank card can be withdrawn no earlier than 30 days from the last deposit.
Forex.ee Trading Conditions
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | МetaТrader 4 (desktop and mobile versions) and TickTrader (desktop, mobile, and web versions) |
|---|---|
| 📊 Accounts: | Demo, STP, Basic ECN, Advanced ECN, Premium ECN, and Crypto |
| 💰 Account currency: | USD, EUR, AUD, JPY, RUB, BTC, MBT, and LTC |
| 💵 Deposit / Withdrawal: | FasaPay, Bitcoin, Bitcoin Cash, Ethereum, Litecoin, bank cards, and bank transfers |
| 🚀 Minimum deposit: | $50 |
| ⚖️ Leverage: | Up to 1:500 |
| 💼 PAMM-accounts: | Yes |
| 📈️ Min Order: | 0.01 |
| 💱 EUR/USD spread: | 0,2 pips |
| 🔧 Instruments: | Currency pairs, metals, commodities, cryptocurrencies, and CFDs on stocks |
| 💹 Margin Call / Stop Out: |
STP: 50%/30%; ECN: 100%/50%; Crypto: 30%/15% |
| 🏛 Liquidity provider: | Own providers |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | STP market and ECN market |
| ⭐ Trading features: | Swaps for cryptocurrency are mandatory |
| 🎁 Contests and bonuses: | Reduced fees on ECN accounts, cash back, and free use of trading signals |
The minimum deposit for the STP account is $50, and it is $200 for ECN accounts. To trade cryptocurrencies, it is enough to open a special Crypto account and deposit $10 to it. Trading conditions such as spreads, fees, and leverage, differ for different account types and financial instruments. Spreads are floating, regardless of the asset and execution type. ECN accounts have an additional trading fee. Swap-free trading is available in some countries (except for cryptocurrencies).
Forex.ee Key Parameters Evaluation
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Trading Account Opening
To open access to Forex.ee’s user account, become the broker’s client. To do this, open a live account according to the instructions below:
To receive rebates from Traders Union for all subsequent trades, go to the Forex.ee website using the TU referral link. After that, click the “Open Live” button.
First, provide the company with your email address and phone number. Also, confirm the automatically generated password or set your own combination. The second stage is authorization in the user account. To pass it, follow the link received in Forex.ee’s email, and then enter your email and password on the login page.
Features of Forex.ee’s user account:
Additional features of Forex.ee’s user account:
Verification menu;
Submit requests for transferring funds between accounts or withdraw funds from the Forex.ee wallet to external systems;
Work with PAMM service;
Panel for partners;
Trader's tools. These are a calculator for calculating fees, a currency exchange rate converter, and a schedule of trading sessions;
Security settings. It provides for connecting Google Authenticator, changing the access pin code, and activating SMS notifications.
Regulation and safety
Forex.ee has a safety score of 2.5/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Negative balance protection
- Track record over 18 years
- Not tier-1 regulated
- Not regulated
Forex.ee Security Factors
| Foundation date | 2007 |
| Negative balance protection | Yes |
| Verification (KYC) | Yes |
Forex.ee is Not a Regulated Broker
Commissions and fees
The trading and non-trading commissions of broker Forex.ee have been analyzed and rated as Medium with a fees score of 7/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- Tight EUR/USD market spread
- No inactivity fee
- No withdrawal fee
- Above-average Forex trading fees
- Deposit fee applies
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Forex.ee with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, Forex.ee’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
Forex.ee Standard spreads
| Forex.ee | Pepperstone | OANDA | |
| EUR/USD min, pips | 0,1 | 0,5 | 0,1 |
| EUR/USD max, pips | 0,5 | 1,5 | 0,5 |
| GPB/USD min, pips | 0,5 | 0,4 | 0,1 |
| GPB/USD max, pips | 0,7 | 1,4 | 0,5 |
RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
Forex.ee RAW/ECN spreads
| Forex.ee | Pepperstone | OANDA | |
| Commission ($ per lot) | 3,5 | 3 | 3,5 |
| EUR/USD avg spread | 0,2 | 0,1 | 0,15 |
| GBP/USD avg spread | 0,4 | 0,15 | 0,2 |
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with Forex.ee. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Forex.ee Non-Trading Fees
| Forex.ee | Pepperstone | OANDA | |
| Deposit fee, % | Yes | 0 | 0 |
| Withdrawal fee, % | 0 | 0 | 0 |
| Withdrawal fee, USD | Yes | 0 | 0-15 |
| Inactivity fee ($, per month) | 0 | 0 | 0 |
Account types
Forex.ee offers two account types, namely STP and ECN. The choice of ECN accounts is more diverse, including a special account for trading cryptocurrencies. The main account currencies are USD, EUR, and RUB. The STP account can also be opened in JPY, and ECN accounts can be opened in JPY, AUD, and BTC, while the Crypto account may be opened in LTC and MBT. The swap-free option is available on all account types, except for the Crypto account.
Account types:
A demo account can be opened in the user account or directly in the trading platform after it is installed on your device.
Forex.ee strives to provide comfortable access to Forex for any trader; therefore, the company offers a wide range of account types with different parameters and capabilities.
Deposit and withdrawal
Forex.ee received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
Forex.ee provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- Bank wire transfers available
- USDT (Tether) supported
- Bank card deposits and withdrawals
- No withdrawal fee
- PayPal not supported
- Limited deposit and withdrawal flexibility, leading to higher costs
- Wise not supported
What are Forex.ee deposit and withdrawal options?
Forex.ee provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC, USDT, Ethereum.
Forex.ee Deposit and Withdrawal Methods vs Competitors
| Forex.ee | Plus500 | Pepperstone | |
| Bank Wire | Yes | Yes | Yes |
| Bank card | Yes | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | Yes | No | No |
What are Forex.ee base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. Forex.ee supports the following base account currencies:
What are Forex.ee's minimum deposit and withdrawal amounts?
The minimum deposit on Forex.ee is $100, while the minimum withdrawal amount is $10. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Forex.ee’s support team.
Markets and tradable assets
Forex.ee offers a limited selection of trading assets compared to the market average. The platform supports 92 assets in total, including 50 Forex pairs.
- Crypto trading
- Copy trading platform
- 50 supported currency pairs
- Indices not available
- No ETFs
Supported markets vs top competitors
We have compared the range of assets and markets supported by Forex.ee with its competitors, making it easier for you to find the perfect fit.
| Forex.ee | Plus500 | Pepperstone | |
| Currency pairs | 50 | 60 | 90 |
| Total tradable assets | 92 | 2800 | 1200 |
| Stocks | Yes | Yes | Yes |
| Commodity futures | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| Stock indices | No | Yes | Yes |
| Options | No | Yes | No |
Investment options
We also explored the trading assets and products Forex.ee offers for beginner traders and investors who prefer not to engage in active trading.
| Forex.ee | Plus500 | Pepperstone | |
| Bonds | No | No | No |
| ETFs | No | Yes | Yes |
| Copy trading | Yes | No | Yes |
| PAMM investing | Yes | No | Yes |
| Managed accounts | No | No | No |
Trading platforms & tools
Forex.ee received a score of 6.55/10, reflecting an average offering in terms of trading platforms and tools. The broker covers essential functionality but may fall short in some advanced features or platform diversity compared to leading competitors.
- Free VPS for uninterrupted trading
- One-click trading
- Trading bots (EAs) allowed
- MetaTrader is available
- No access to a proprietary platform
- No access to API
- Strategy (EA) Builder is not available
Supported trading platforms
Forex.ee supports the following trading platforms: MT4, MT5. This selection covers the basic needs of most retail traders. We also compared Forex.ee’s platform availability with that of top competitors to assess its relative market position.
| Forex.ee | Plus500 | Pepperstone | |
| MT4 | Yes | No | Yes |
| MT5 | Yes | No | Yes |
| cTrader | No | No | Yes |
| TradingView | No | Yes | Yes |
| Proprietary platform | No | Yes | Yes |
| NinjaTrader | No | No | No |
| WebTrader | No | Yes | Yes |
Key Forex.ee’s trading platform features
We also evaluated whether Forex.ee offers essential trading features that enhance user experience, accommodate various trading styles, and improve overall functionality.
Supported features
| 2FA | Yes |
| Alerts | Yes |
| Trading bots (EAs) | Yes |
| One-click trading | Yes |
| Scalping | Yes |
| Supported indicators | 30 |
| Tradable assets | 92 |
Additional trading tools
Forex.ee offers several additional features designed to enhance the trading experience. These tools provide greater automation, deliver advanced market insights, and help improve trade execution.
Forex.ee trading tools vs competitors
| Forex.ee | Plus500 | Pepperstone | |
| Trading Central | No | No | No |
| API | No | No | Yes |
| Free VPS | Yes | No | Yes |
| Strategy (EA) builder | No | No | Yes |
| Autochartist | No | No | Yes |
Mobile apps
Forex.ee supports mobile trading, offering dedicated apps for both iOS and Android. Forex.ee received 2/10 in this section, which suggests limited user interest or weak performance of the apps.
- User-friendly interface
- Low app installs across iOS and Android
We compared Forex.ee with two top competitors by mobile downloads, app ratings, 2FA support, indicators, and trading alerts.
| Forex.ee | Plus500 | Pepperstone | |
| Total downloads | No data | 10,000,000 | 100,000 |
| App Store score | No data | 4.7 | 4.0 |
| Google Play score | No data | 4.4 | 4.0 |
| Mob. 2FA | No | Yes | Yes |
| Mob. Indicators | No | Yes | Yes |
| Mob. Alerts | No | Yes | Yes |
Education
Education on the Forex.ee website is currently not available as the Knowledge Base section is under development. The basics of trading are posted in the Help & FAQs block with the main terminology being in the client agreement.
Success in trading is possible only after acquiring practical trading skills. For these purposes, a demo account is available.
Customer support
All departments of Forex.ee work according to a single schedule: Monday to Friday from 7:00 to 16:00 (GMT). Ditto for Live chat.
Advantages
- Live chat is available
- Phone support
Disadvantages
- Support is not available 24/7
- Live chat delays
Support can be contacted:
-
via live chat on the website or in the user account;
-
by phone;
-
by email.
The email box is intended for communication with support services. To get answers to general questions.
Contacts
| Foundation date | 2007 |
|---|---|
| Registration address | NTS Systems Limited, First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines |
| Regulation | FSA |
| Official site | forexee.com |
| Contacts |
+442035198249
|
Comparison of Forex.ee with other Brokers
| Forex.ee | Bybit | Eightcap | XM Group | Exness | Octa | |
| Trading platform |
MetaTrader4, TickTrader | MetaTrader5 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MetaTrader4, MetaTrader5, OctaTrader |
| Min deposit | $50 | No | $100 | $5 | $10 | $25 |
| Leverage |
From 1:1 to 1:500 |
From 1:1 to 1:500 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:40 to 1:1000 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0 points | From 0 points | From 0 points | From 0.8 points | From 0 points | From 0.6 points |
| Level of margin call / stop out |
50% / 30% | No / 50% | 80% / 50% | 100% / 50% | 60% / No | 25% / 15% |
| Order Execution | Market Execution | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | No | No | No | Yes | No |
Detailed review of Forex.ee
Forex.ee is a broker that works using ECN and STP technologies. It prioritizes the best prices, fast execution, and tight spreads for any asset. The company's clients have access to profitable promotions and offers, such as cash back on brokerage fees, covering the costs of using the copy trading service, reduced fees per lot, etc. Traders are given a choice of account types, trading assets, platforms, and investment services.
Forex.ee by the numbers:
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19+ years of experience in financial markets;
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$1 fee on ECN accounts;
-
Leverage for currencies is up to 1:500;
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Cashback of a trading fee for new clients is up to $1,000 per trader.
Forex.ee is a broker for trading popular currency pairs and CFDs with dynamic leverage
Forex.ee offers trading currency pairs, cryptocurrencies, metals, commodities, and CFDs on stocks. The available leverage depends on the trading instrument, the account type, and the deposit size. The maximum leverage on the STP account is 1:500, but if the balance is less than $50, then it is reduced to 1:100. On ECN accounts with a balance of up to $25,000, leverage reaches 1:500; and over $25,000, it is up to 1:200. Cryptocurrencies are traded with leverage no higher than 1:3.
Forex.ee offers two trading platforms — MetaTrader 4 and TickTrader. MT4 users have access to additional services, such as the copy trading module and PAMM accounts. You can also install the One Click Trading plug-in on this platform to access Level 2 prices, open and close positions with one click, and place pending orders, including stop loss and take profit. MetaTrader 4 is not available in all countries.
Useful services offered by Forex.ee:
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Commission calculator. This online tool allows you to quickly and easily calculate the ECN fee for currency pairs and cryptocurrencies;
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Currency exchange rates converter. It is designed to calculate the currency exchange fee. It also provides for viewing historical exchange rates for any date;
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Pip value and margin calculator. With this tool, you can adjust the size of a trading position and choose the optimal leverage;
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Online quotes for currency pairs. The values for EUR/USD, GBP/USD, USD/JPY, EUR/CHF, and USD/RUB are broadcast in real-time on the company's website.
Advantages:
All traders using the ECN model have access to trading on more favorable conditions at promotional rates from time to time;
Forex.ee does not charge fees for depositing and withdrawing funds, as well as for maintaining active trading accounts;
The company offers multi-level partnership programs for introducing brokers, who can be ordinary retail traders;
More than 50 currency pairs are available for sale and purchase in MT4 and TickTrader;
The broker provides free analytics and calculators useful for Forex traders, which can be used to calculate fees for a certain position.
The company regularly expands the range of instruments so that its clients can immediately start trading assets that are of interest to them.
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