Do you wish to dive into the platform but want to verify if it’s legit? This ForWex review will help you make an informed decision about the broker for trading foreign currencies.
What is Forwex Broker?
(Your Safety First), You must have heard of the name forwex and wondered what it’s all about. Recently the name is flying all over the internet making the broker gain popularity.
As usual, we all wonder if they are legit and safe for our money.
ForWex broker is a forex, CFDs and binary options trading broker offering it’s clients a professional trading service. The platform, provide access to an extensive range of 70+ assets, spanning currency pairs, cryptocurrencies, commodities, indices, and beyond. More-so, ForWex prioritizes clients’ satisfaction first, by offers a user-friendly interface that makes trading easy and quick for everyone.
Additionally, ForWex support Ultra-low spreads from 0.0 pips and affordable exchange rate. Therefore you get one of the lowest transaction costs on the stock market, including tight spreads and minimal commission fees, enabling you to maximize your profits and minimize expenses. ForWex broker give you edge over others by providing a complete suit with all round trading tools to help you succeed.
Understanding Forwex Broker
I must say that ForWex Broker is new and fresh with a refined trading platform. It was founded in 2023-07-19, with growing user up to 1,000,000 on the website. However, the broker is professionally built by group of experts in the industry for many years.
The company is operated by Positive Markets Ltd. – Nr. 2024-00144, Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia. Most importantly, with Forwex broker, you have 24/7 customer support and Instant deposit and withdrawal processing via 5 ways. The broker gives you zero trading account, meaning you don’t have to deposit before trading on real account. In addition, you can get bonus to boast your trading account by 100%, visit website for more.
Types of Account to Choose From on Forwex Broker.
Like i have said before, ForWex is a broker we all should embrace with no fear of fraud. However from my view on the broker, user doesn’t have to have sleepless night just to get their money out of forWex like gust mining. They have set a standard best for beginners and advanced traders. Apart from good platform you get easy access to the forex market with or without investment. Therefore, we urge you to start trading with the broker.
Trading Accounts on ForWex are divided into three categories.
Firstly the zero account is for no deposit: This account type help individuals who doesn’t have money buy will to trade to start without investing any money.
However the features of this account include Instant Execution, Fixed Spread,
- Fixed spread: From 2 pips
- Leverage: 1:1 1:10 1:100 1:200 1:300 1:500
- Markets: 48 Forex, 4 Commodities, 7 Indices, 0 Stocks.
- Account currency: EUR USD GBP
- Fee: 0%
- Withdrawal time: 72 hours
- Margin call: 0.5%
- StopOut: 0.3%
- Minimum trade size(Units): 100 (0.001 lots)
- Swap free: Not
- Locked position: Allowed
- Chart history: 30 days
- Trades history: 30 days
- Spread back: 0%
- Stop orders (TP/SL): 0.02%
- Stop orders: 0.3% from StopOut. Open an Account
Paid Accounts
Secondly, the START account is for beginners: This is the most popular with $100 minimum deposit. However might not have same features with last account. The features of this plan include:
- Execution: instant
- Fixed spread: From 0.8 pips
- Leverage: 1:1 1:10 1:100 1:200 1:300 1:500 1:1000
- Markets: 48 Forex, 4 Commodities, 7 Indices, 0 Stocks
- Account currency: EUR USD GBP
- Spread: from 0.8 pip
- Fee: 0%
- Withdrawal time: 24 hours
- Margin call: 0.35%
- StopOut: 0.2%
- Minimum trade size(Units): 1000 (0.001 lots)
- Swap free: Not
- Locked position: Allowed
- Chart history: 365 days
- Trades history: 365 days
- Spread back: 0.1%
- Stop orders (TP/SL): 0.01%
- Stop orders: 0.2% from StopOut. open account
Thirdly is PRIME Account : This account type start with $5000 minimum deposit. However the features of this account include:
- Instant Execution
- Fixed spread: From 0.1 pips
- Leverage: 1:1 1:10 1:100 1:200 1:300 1:500 1:1000 1:2000
- Markets: 48 Forex, 4 Commodities, 7 Indices, 50 Stocks
- Account currency: EUR USD GBP BTC
- Fee: 0.0008%
- Withdrawal time: 1 hours
- Margin call: 0.2%
- StopOut: 0.1%
- Minimum trade size(Units): 10000 (0.001 lots)
- Swap free: Not
- Locked position: Allowed
- Chart history: 0 days
- Trades history: 0 days
- Spread back: 0.2%
- Stop orders (TP/SL): 0.001%
- Stop orders: 0.1% from StopOut. Open an account
Is ForWex Safe?
ForWex broker is new but have a good trading platform with affordable pricing. We can say that ForWex is Legit and reliable for trading the market. However it’s always good to be sure your safety before investing. While ForWex is new and not regulated we trust the broker because of the platform and founders. Therefore you can trade with them without fear of withdrawal. The broker is registered and operated by Positive Markets Ltd. – Nr. 2024-00144, Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Luciao. However, ForWex offer 24/7 customer support which allows you to get instant response to any challenges. More-so, you get lowest trading service rates on the platform, the system is well built with intuitive interface and fast execution process.
What Kind of platform do ForWex broker offer?
ForWex broker offer inbuilt trading platform with smart trading strategies. More-so, It allows you to use Buy or Sell button to execute trades. Users can trade currency, cryptocurrencies, commodities etc. However the leverage for commodities, cryptocurrencies and currencies is 1:1 which gives you opportunity to invest and gain. You can trade short term or long term including option for up to a 4 days, however the option expiration minimum expiration time is 1 minutes, 1 hour and day.
The platform provides range of indicators which includes:
- Simple Moving Average, exponential moving Average.
- Weighted moving Average,
- Wilder’s smoothing,
- MACD
- Bollinger bands, relative strength index.
- Stochestic RSI.
All this indicators is available for you on the platform. In addition, to the features on the platform, you can trade with three different chart interface. The available chart screen includes Tick Chart, Candle Sticks and Tradingview. However this trading tools is good for active trader, please note that as a new broker, ForWex is yet to provide mobile app but the web-based platform is good. Therefore, you will be able to navigate the market with sufficient resources.
How to Contact For Wex?
The broker is granded with sufficient customer support agents, highly qualified for user best interest. Therefore ForWex offer customer support via live chat, phone, email and contact form. For urgent redress, platform email support@forwex.com, their response is instant or visit the website and contact their customer support. You can equally compare broker with charles schwab broker.
Securities of Funds And Life
ForWex broker take higher security measures to keep your investment safe. The broker is reliable as it’s not just new but have experienced individuals. Thus, if we are to talk about the website, it offer secure payment methods. the domain is well encrypted with SSL and sitelock and other private security sources. Trade forex with the best online trading platform.
What are the Available Payment and Withdrawal methods?
ForWex broker have proof of its legitimacy and project standardization. This is shown on the type of payment methods the broker offer. Firstly, it’s generally accepted as a measure of refundable expenses when you spend through credit cards, electronic Payments and wire transfer. However in some cryptocurrency, refund might be difficult or not work at all.
Therefore, ForWex is legit and that’s why we have refundable deposit. So after registration, you can deposit to through this methods.
-Credit Cards
-Electronic Payments
-Wire Transfer
-Cryptocurrencies
How to Start with ForWex.com
To start using the platform you firstly need to visit the broker and follow this three simple steps.
- Open account with your full details and verify your account with your Identity like, passport, ID and driver’s license.
- Secondly, you need to deposit using any of the above payment methods.
- And finally, you enter the trade.
Overall: Is ForWex Really Legit and Regulated?
ForWex is Legit but not regulated. Since the broker is new, it’s not easy to get regulatory approval instant, however we believe it’s a criteria for good stand. If you think the service offered by the broker is good and profitable, then we guarantee your investment with the broker. Additionally, you can do further research before investing. But for now our experience so far with the ForWex is gain and smooth trade interface. Well, why i will advice you to trade with the broker is because
– ForWex is legit: This is proven through our provate account trading in the last 1 week.
– ForWex is New: This allows you to exploit their efforts to create good relationships with users and gain good reviews. More-so, you get first hand support and just like a brand new car, you will have less challenges while trading in the financial markets.
– It’s handled by experienced broker providers: From our view, ForWex is legit and a product of experts and existing brokers. Therefore, user experience matters a lot to them.
Finally, we have other forex brokers, to compare with ForWex, know if iqcent is good for active forex traders. However you Start Trading to try the platform first.
