Forexite Rated 3/5

Forexite Guide - Read our In Depth 2021 Forexite Review

This Forexite review was written by industry experts with over 20 years of financial experience in Forex trading, Share Dealing.

Benefits of Trading with Forexite

Forexite Review 2021 Quick Summary
💰 Min Deposit No minimum deposit
👱‍♂️ Used By 10,000 Forexite users and traders
📆 Founded 2008
🌍 HQ British Virgin Islands
👮‍♂️ Regulation Belize's International Financial Services Commission (IFSC)
🚫 Excluded Countries Forexite is not available in the following countries :

Open Forexite's Website

Your capital is at risk


learn more Learn more about eToro.
67% of retail investor accounts lose money when trading CFDs with this provider.

What is Forexite?

Forexite are a global online financial trading platform and multi asset broker founded in 2008

Over 13 years later Forexite has grown to offering retail investors Forex trading, and Share Dealing trading.

Forexite are a global broker. Forexite have a head office in British Virgin Islands.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

We will dive deep in this Forexite review and assess how well the Forexite platform functions in its role as an international multiple financial asset trading platform for traders in 2021.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. Choosing an online broker like Forexite can be difficult. For a beginner, the first few hurdles can come in the form of what appears to be a complex mobile or online trading platform, hard to understand investment terminology and confusing fee structures. In our review of Forexite we breakdown the pros and cons. What Forexite are able to offer, what countries Forexite are available in. Who Forexite are regulated by and more.

Forexite Review Screenshot

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

This is why we have taken the time to review only the best brokerage firms, their practices, their fee structure and all other important aspects. We want you to evaluate and analyse and trust your hard-earned cash with only the safest and best of brokers. We hope you find this Forexite review useful.

This review of the Forexite platform is very detailed. If you are interested in trading with Forexite in any capacity please take the time to read and research the whole Forexite review.

We have tried to explain the ins and outs of financial trading through the Forexite platform as plainly as possible so that you the trader are as informed as possible before you start to use the Forexite trading tools and depositing and withdrawing funds from Forexite.

Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with. When trading financial assets with Forexite like Forex trading, and Share Dealing trading. You should have confidence in Forexite and know that the management of your financial investments on the Forexite platform are in good hands.

At the bottom of this Forexite review you can also learn about some pretty good alternatives to Forexite

With this Forexite review we hope to help you see if Forexite is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding Forexite that will help you get off to a good start in the world of online trading.

Forexite Review Table of Contents

Forexite review
Forexite is a Multi-Assets Trading Platform with over 110+ Assets

Learn more about Forexite. Forexite is a multi asset platform with 110+ tradable Assets. Assets available on Forexite include Forex trading, Share Dealing.

Forexite trades in multiple financial asset types. An asset in financial investment, is any security or asset, tangible or intangible, that has a financial value attached. This means that Forex trading, Share Dealing are considered financial assets.

Features of Forexite

Forexite review
What you should know

Forexite offer two ways to trade: Forex trading, Share Dealing.

With Forexite you will need a minimum deposit of $0. You can sign up for a demo account to acquaint yourself with Forexite platform.

Forexite are able to accommodate various levels of traders whether you are experienced or a beginner.

Are Forexite safe?

When choosing a broker like Forexite the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2008, and in operation for 13 years Forexite have a head office in British Virgin Islands.

Forexite is regulated. This means Forexite are supervised by and is checked for conduct by the Belize's International Financial Services Commission (IFSC) regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Forexite, this will be honored. If Forexite violate any regulatory rules their regulated status could be stripped.

Your capital is at risk

Is my money safe with Forexite?

Any payments funded to Forexite accounts by traders are held in a segregated bank account.

For added security Forexite use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

What are Tier 1 banks and why should Forexite use them?

A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses.

What does it mean to have your funds in Forexite deposited in a Tier 1 bank?

Having any money you deposit with Forexite means that your funds are safe in a bank that has enough capital to accommodate your withdrawal wishes even if Forexite goes out of business for some reason.

Therefore, we can safely conclude that Forexite is secure and safe.

That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.

While trading in financial investments, losing money rapidly due to trading Forex trading, Share Dealing is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility. Forexite also clearly state on their platform that Your capital is at risk.

Now that we have answered some important questions regarding Forexite. let us look at the Forexite features in more detail.

Try creating two accounts when you are working with Forexite. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit Forexite

Your capital is at risk

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

How Forexite as a Company Compare Against Other Brokers

Broker forexite eToro XTB IC Markets
Year Established 2008 2007 2002 2007
Head Office British Virgin Islands Cyprus, UK Poland Australia
Regulation Belize's International Financial Services Commission (IFSC) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)
Used By 10,000+ Forexite users 20,000,000+ eToro users 250,000+ XTB users 180,000+ IC Markets users
Negative balance protection Yes Yes Yes
Guaranteed Stop Loss No No No
Learn More Visit Forexite Visit eToro Visit XTB Visit IC Markets
Risk Warning Your capital is at risk 67% of retail investor accounts lose money when trading CFDs with this provider. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits

Forexite review
Forexite Pros and Cons

What we like about Forexite

  • Used by over 10,000 Forexite users and traders
  • Established in 2008
  • Regulated by Belize's International Financial Services Commission (IFSC)
  • Min. deposit from $0

What we don't like about Forexite

Forexite review
Forexite Regulation and Licensing in more detail

We have checked and Forexite is regulated and supervised by reputable organisations. You are able to check every Forexite supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with Forexite. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria for license approval, this is determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect Forexite traders and provide a safe trading environment. Financial regulation and license approval is essential.

  • Belize's International Financial Services Commission (IFSC)

Forexite is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as Forexite you should be sure they're legitimate online agent.

Is Forexite Global?

Yes, Forexite is global as Forexite is available in over 194 countries.

Forexite is a global trading platform in the sense that it operates in 194 countries including nations in Europe, Asia, Oceania, and Africa. Major countries Forexite covers include the UK, Germany, Australia, South Africa, Thailand the United States and China. Forexite has a total of more than 10,000 users.

Forexite review
Forexite Fees Explained

  • Forexite withdrawal fees varies on payment method
  • Forexite does charge a fee for inactive accounts.
  • Forexite does charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company. Brokers may charge clients various trading fees that you need to be aware of as they may affect your bottom line.

How Forexite Fees Compare Against Other Brokers

Broker forexite eToro XTB IC Markets
Min Deposit 0 50 0 200
Withdrawal Fees varies Yes varies No
Inactivity Fees Yes Yes No
Deposit Fees No No Varies
CFD Commission Fees Yes Yes Yes

Forexite Minimum Deposit

Forexite do not require a minimum desposit when opening a Forexite trading account.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

Forexite Withdrawal Fees

Forexite withdrawal fees vary depending on your selected withdrawal payment method.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees, processing times and a potential currency conversion fee. The Conversion fee is dependant on your base currency, your receiving currency and your payment provider.

Forexite for example allow you to withdraw your funds to Bank Transfer, Credit cards, Skrill, Neteller.

Forexite Inactivity Fees

Forexite does charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account does not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

Forexite Desposit Fees

Forexite does charge deposit fees.

You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

Forexite Commission Fees

Forexite does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

Forexite review
What can you trade with Forexite?

Be aware that different entities under the Forexite Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client. Additionally, the trading instruments offered by Forexite may vary depending on the trading platform you choose to trade with.

You can trade a wide variety of instruments with Forexite over 110 instruments infact.

If you are looking for Forex brokers to trade currency pairs on global Forex markets Forexite offer over currency pairs.

Compare Forexite with eToro and XTB below.

Your capital is at risk

How Forexite Trading Options Compare Against Other Brokers

Broker forexite eToro XTB IC Markets
Instruments Available 110 2000 4000 232
Platforms MT4, MT5,WEB Web Trader, Tablet & Mobile apps MT4, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac
FX / Currencies        
Forex pairs offered 50 57 65
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs No Yes Yes Yes
Exotic Forex pairs No Yes Yes Yes
Cryptocurrencies (availability subject to regulation) No Yes Yes Yes
Commodity CFDs        
Commodities Offered 0 31 21 19
Metals Yes Yes Yes Yes
Energies Yes Yes Yes Yes
Agricultural Yes Yes Yes Yes
Indiced & Stock CFDs        
Stocks Offered 2042 1696 110
UK Shares Yes Yes Yes Yes
US Shares No Yes Yes Yes
German Shares No Yes Yes Yes
Japanese Shares No Yes Yes Yes
Risk Warning Visit Forexite
Your capital is at risk
Visit eToro
67% of retail investor accounts lose money when trading CFDs with this provider.
Visit XTB
74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Visit IC Markets
Losses can exceed deposits

Forexite review
Trading on Forexite web platforms and other applications

Forexite is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here.

Forexite also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.

See Forexite's platforms

Is the Forexite Trading Platform Secure?

Forexite safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. Forexite also urges its clients through its web platform to always look for the SSL security sign (a lock sign) on the browser while operating Forexite.

Forexite Trading Platform Options

Once you have logged into your Forexite account you will see the below trading platform options available to you.

  • MetaTrader 4 (MT4)
  • MetaTrader 5 (MT5)

Forexite does not offer the cTrader trading platform. You can find a broker that supports cTrader here

Lets explore each of these trading platforms in detail and what options Forexite gives you.

Forexite review
Forexite MetaTrader 4 (MT4)

Forexite MetaTrader 4

MetaTrader 4 also known as MT4 is the number one trading platform on the planet and has been in active use on financial markets since 2005. The MetaTrader 4 software delivers a feature-rich, user-friendly interface and an extremely customisable trading environment, designed to ful fill all of your trading needs and boost your trading performance. Charting functionality and advanced order management tools make certain you could monitor your positions quickly and economically.

Understand that the MetaTrader 4 (MT4) trading platform was developed primarily to trade Forex but you can also trade other types of financial instruments through CFDs and Spread Betting. You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 (MT4) platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements with Forexite. You can learn more about the MT4 Platform here.

You can start using the MetaTrader 4 platform with Forexite in multiple formats including through an online web platform, Through a downloadable application for Windows PC's and Apple Macintosh computers. Forexite MetaTrader 4 is compatible with the latest macOS Mojave. Forexite allows traders to trade on mobile devices through Android and iOS devices like the iPhone.

Metatrader 4 Webtrader on Forexite

MetaTrader 4 is the most popular trading platform in the world as most and more traders begin to trade online Metatrader 4 is available as a web based application available through your web browser. MetaTrader 4 web software provides the same easy to use performance as the desktop version using advanced charting, a highly customisable trading environment, easy to access online trading tools and many different indicators. You can enjoy our Raw Pricing trading environment without a Dealing Desk from anywhere in the world.

Trade Forexite MetaTrader 4 on iOS Devices

You can download the Forexite app or also trade with Forexite through the MetaTrader 4 application on the Apple app store.

Download the Metaquotes MetaTrader 4 Program for free of charge from Apple's App Store. Forexite customers have instant access to this Financial markets, with the ability to completely manage a Portfolio on the go.

Trade Forexite MetaTrader 4 on Android Devices

Andorid mobile devices and tablets are used by millions of people globally. Forexite provides its clients access to the MetaTrader 4 platform on Android supported devices so that customers can monitor the financial marketplace and trade directly from their Android-based Smartphones and tablets. The Android Forexite MetaTrader 4 Android application enable traders to make the most of multiple advanced trading features which enables them to monitor and trade Forex quickly on the go, simply and securely.

Trade Forexite MetaTrader 4 Trading Central

Trading Centrals Alpha Generation Indicators is a Bundle of three Major indicators including:

  • Analyst Perspectives - A go-to resource for leadership and key levels.
  • Adaptive Candlesticks - Identifies chart patterns which illustrate important changes in demand and supply.
  • Adaptive Divergence Convergence (ADC) - Much like MACD however useful at shorter lengths and provides more timely signs.

Forexite MetaTrader 4 Advanced Trading Tools

The Forexite advanced trading tools for MetaTrader 4 are aimed at improving the total trading experience and providing traders with a competitive advantage. Forexite offers access to 20 exclusive tools which includes feature rich trade execution & management programs, sophisticated notification alarms, messaging facilities, innovative market data & more.

Trade Forexite MetaTrader 4 MultiTerminal

MetaTrader 4 MultiTerminal provides a intuitive easy to use dashboard where traders can administer and supervise several trading accounts. MultiTerminal will let you manage over 100 Accounts simultaneously allowing you to place market orders, pending orders, view live market prices and track all accounts and equity at real time. All Trading accounts must be in on the same MetaTrader server. MultiTerminal doesn't support Automated Trading scripts like Expert Advisors.

Forexite MetaTrader 4 & MetaTrader 5 AutoChartist

Forexite Autochartist provides the world's first Market Scanner available for MT4 & MT5 using a non-trading Expert Advisor script. Scan markets for trading opportunities while viewing all symbols and time intervals from a single graph. Gone are the days of launching a lot of graphs on which you can't remember which currency you're taking a look at. Autochartist offers a simple user interface that can be customized to suite how you like to trade.

Forexite review
Forexite MetaTrader 5 (MT5)

Forexite MetaTrader 5

MetaTrader 5 also known as MT5 is a multi asset trading platform that provides a wide range of trading features and financial research tools, MT5 also allows the use of automated trading systems (trading robots) and copy trading. New features like additional timeframes and advanced charting tools can give you a competitive advantage in the financial markets.

MetaTrader 5 was released in 2010 and is the updated version of MetaTrader 4.

MetaTrader 4 was built specifically to trade Forex and CFDs, MetaTrader 5 on the other hand facilitates trading of Forex, Futures, Stocks, Algorithmic Trading, ETFs and Indices.

You can learn more about the MT5 Platform here. You can also learn more about the differences between MT5 and MT4 here.

Trade Forexite MetaTrader 5 WebTrader

Access your Forexite MetaTrader 5 accounts from any web browser. It features a huge range of tools like additional timeframes and the most up to date technical indicators to give you all the trading resources you need to trade on and analyse the financial markets.

Forexite review
Forexite MT5 Buying and Selling

IC Markets MetaTrader 5 Buying and Selling

Forexite MetaTrader 5 on iOS Devices

Forexite MetaTrader 5 Can Operate on the and newer IOS devices like the iPhone and iPad. MetaTrader 5 requires a mobile internet connection or a connection to Wi-Fi. It's suggested that you upgrade the iOS MetaTrader 5 app regularly. New versions provide improved functionality and increased stability. Forexite MetaTrader 5 allows traders to look at market statistics of financial instruments traded in the market execution mode.

Forexite MetaTrader 5 on Android Devices

MetaTrader 5 for Android may be used on a Android smartphone or a tablet powered by the Android 5.0 or higher operating system. Additionally, to connect to Forexite trading server. Take the time to understand all of the Android MetaTrader 5 features. With Metatrader 5 for Android you can trade a selection of financial instruments at any time, in any place.

Forexite Metatrader Mobile Application Features

MetaQuotes the developers of Metatrader have listened to the feedback of their millions of users and have built the most popular mobile trading platform in the world. MetaTrader features include :

  • Financial instrument quotes
  • View in depth price charts of financial instruments
  • Manage trades and open positions
  • View your trading history
  • View market news
  • MetaTrader internal messaging
  • View and research market statics of Forexite financial instruments
  • Position opening and closing
  • Lookup symbols in the quotes section
  • Display of deals on graphs
  • Timeframe selection for graphs and charts
  • Additional vertical scaling of graphs
  • Capability to transfer accounts to other devices using QR codes
  • Information is available only if it's supplied by Forexite
  • Access the OTP generator through FaceID or fingerprint

Forexite MetaTrader 5 Advanced Trading Tools

Forexite MetaTrader 5 has many advanced trading tools for the more advanced users. Understanding these tools can give you a competitive edge.

  • Depth of market bids and asks
  • Price Data
  • Margin Calculation, Futures, Forex
  • Advanced Techincal Analysis
  • One click trading
  • Spreads
  • Futures
  • Trading Reports

Forexite Trading benefits

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Forexite Trading Accounts Offered

Below we give an overview on the account types that Forexite offer. Whatever you are looking to trade the varying Forexite account types will be able to provide you with what you need.

  • Standard account
  • ECN account
  • STP account
  • Islamic account

Can I try Forexite before I buy?

Forexite offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Your capital is at risk

Forexite withdrawal and funding methods

Please note that the list of Forexite payment methods below depend on the Forexite Entity and the Clients Country of Residence.

All available Forexite payment methods available to you can be found in your Forexite members area checked on the Forexite website.

Forexite offer the below funding payment methods. You can use any of the below deposit options if available in your region. learn more about Forexite

Forexite Payment Methods

  • Forexite accepts Bank Transfer
  • Forexite accepts Credit cards
  • Forexite accepts Skrill
  • Forexite accepts Neteller
Broker forexite eToro XTB IC Markets
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill Yes Yes Yes Yes
Payoneer No Yes Yes No
Neteller Yes Yes Yes Yes

*please note available Forexite and other broker payment methods depend on the clients country of residence.

How can I start trading with Forexite?

When opening a trading account with Forexite, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Forexite trading platforms here. You will need to provide some basic documentation to prove your identity as part of Forexite onboarding and normal KYC identity checks. These checks are standard practice and help Forexite provide a safe financial environment for their 10,000 users.

Your capital is at risk

Performing trades with Forexite

Forexite allow you to execute a minimum of trade of varies. This may vary depending on the account you open. Forexite allow you to execute a maxium trade of varies. As Forexite offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the instruments.

CFD Trading on Forexite

let's take a look at some of the basics of using Forexite leverage.

Forexite offer CFD which are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

Forexite leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the Forexite trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The Forexite leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

Forexite CFDs are typically used for short to medium term trades. For example Forexite intraday CFD trading. Although high risk because CFD trades are separate from the financial markets, a CFD trade can be more flexible than a traditional market trade where you own the underlying asset. CFD trades give access to CFD fractional shares, CFD international markets and CFD short selling. More advanced traders can also use CFDs to hedge.

Always be aware that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Your capital is at risk

Education resources at Forexite

To trade effectively with Forexite, it's important to get a have a good understanding of the Forexite trading tools and the markets. Make sure you make full use of all education tools. This includes eduction tools with Forexite and externally.

Forexite offer a good selection of educational resources. Take your time, learn how the financial markets move. Take the time to learn how your trading platform works. Make buy and sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk.

Having an analytical approach may be a good way to approach trading with Forexite.

Take time to look around the Forexite platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at Forexite

As part of our Forexite review we review customer service options, response times and Forexite trading platform problem resolution effectiveness.Forexite support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian.

Forexite have a D grade support rating because because sometimes the response was slow or our query wasnt answered. Forexite less customer support features compared to other brokers like live chat, phone and email support. email support and supports a limited amount of Languages. Phone support supports a limited amount of Languages.

Livechat Support at Forexite

Forexite does not offer LiveChat Support.

Email Support at Forexite

We sent several emails to Forexite and answer times overall were excellent. The fastest response from Forexite was 4 hours and the slowest response was 5 days. Sometimes there was no response. Support response times may vary for you with Forexite, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall average email support from Forexite.

Phone Support at Forexite

We called Forexite and the call was answered very quickly. The call was answered in less than 5-10 minutes.

The Forexite phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual Forexite team by calling in varying languages. Forexite made an effort to make sure our queries were answered.

Overall the phone support from Forexite was okay.

See how Forexite Support Compares Against Other Brokers

Broker forexite eToro XTB IC Markets
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian English, German, Spanish, French, Italian English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more
Learn More Visit Forexite Visit eToro Visit XTB Visit IC Markets
Risk Warning Your capital is at risk 67% of retail investor accounts lose money when trading CFDs with this provider. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits

What you will need to open an account with Forexite

As Forexite is regulated by Belize's International Financial Services Commission (IFSC), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware that the expiration date of Proof of address document for different entities under Forexite Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 5 minutes or so to complete the account opening process.

While you might be able to explore Forexite's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Forexite you can visit the Forexite trading platform here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.forexite.com/ on December 05, 2021.

Is Forexite A Good Broker?

We spent over 3 months examining Forexite in depth. Although we found some very useful aspects of the Forexite platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative Forexite broker.

  • Forexite have a good track record of offering Forex trading, Share Dealing.
  • Forexite has a history of over 13 years.
  • Forexite has a reasonable sized customer support of at least 10.
  • Forexite are regulated by the Belize's International Financial Services Commission (IFSC). This means Forexite fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • Forexite have regulation from Tier 1 reputable regulators.
  • Forexite has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • Forexite have an international presence in multiple countries. This includes local Forexite seminars and training.
  • Forexite are able to hire people from various locations in the world who can better communicate in your local language.

Forexite Risk Disclosure

Your capital is at risk

Trading Risk Disclaimer

Trading financial instruments including crpytocurrency and foreign currency markets come with a very high level of risk. In regards to leverage and margin based trading you will be exposed to a high risk of loss. Some financial instruments and derivatives that are off exchange may offer varying leverage and may have limited regulatory protection and high market volatility. It should never be presumed that any investment products, techniques, indicators or any other presented resources will result in profits. You should be aware that investing may result in financial loss.

Forexite not quite right?

If after reading this Forexite review, Forexite does not fulfill your needs check out these Forexite Alternatives.

Click here to view the best Forexite Alternatives

We have spent years researching the best alternatives to Forexite. Click the links below to learn more.

If you feel some of the above Forexite are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of Forexite alternatives below.

Related Forexite Vs Comparisons

We have covered allot in this Forexite review, If you want to see how Forexite compares side by side with other brokers check out our Forexite Vs pages.

If you would like to see how Forexite stands up against other brokers you can read some of our Forexite comparisons below. We compare side by side some of our top rated Forexite versus comparisons. Read our indepth Forexite VS pages below.

Forexite review
FOREXITE Frequently Asked Questions

Read our detailed Forexite FAQ Section updated for 2021.

Can I try Forexite before I buy?

Forexite do not offer a demo account so it looks like you will have to sign up for at least a trial period. Learn more here

What funding methods do Forexite accept?

Please note that the list of payment methods below depend on the Forexite Entity and the Clients Country of Residence.

Forexite offer the following funding payment methods Bank Transfer, Credit cards, Skrill, Neteller, among other payment methods.
Learn more here

Your capital is at risk

Is Forexite safe?

Forexite are considered safe as they are regulated by and checked for conduct by the Belize's International Financial Services Commission (IFSC). Any payments funded to Forexite accounts by traders are held in a segregated bank account. For added security Forexite use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Your capital is at risk

Is Forexite trading good?

Forexite is considered good and reputable to trade with Forexite. Forexite is used by over 10,000 traders and Forexite users. Forexite offers Forex trading, and Share Dealing trading. Minimum deposit with Forexite is 0.

Is Forexite trading Legit?

Forexite was founded in British Virgin Islands in 2008. Forexite has been facilitating trade on the financial markets for over 13 years. Forexite offers clients Forex trading, and Share Dealing trading. All funds deposited to Forexite are held in segregated tier 1 bank accounts for security. Forexite is regulated by Belize's International Financial Services Commission (IFSC) so can be considered legit.

Is Forexite a good broker?

Forexite is overseen by the top tier financial regulators Belize's International Financial Services Commission (IFSC) so can be considered a good broker. Forexite allows Forex trading, and Share Dealing trading.

Is Forexite trustworthy broker?

Forexite can be considered trustworthy. All money funded to Forexite is placed into a segregated tier 1 bank account. this means your money in not held by Forexite directly by a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also Forexite is regulated by Belize's International Financial Services Commission (IFSC).

What is the minimum deposit for Forexite?

The minimum deposit to trade with Forexite is 0.

How long do Forexite withdrawals take?

Withdrawing money from Forexite processing time varies depending on the method but averages 2-5 days.

Is Forexite regulated?

Forexite is regulated by the Belize's International Financial Services Commission (IFSC). Regulatory bodies conduct regular reviews and audits as part of Forexite maintaining their regulatory status. You can learn more about these reviews on the regulator websites.

Is Forexite a market maker?

Forexite is a market maker. Stocks, currency and other commodities and instruments will be purchased by Forexite even if no buyer is lined up.

How can I start trading with Forexite?

When opening a trading account with Forexite, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Forexite trading platforms here.

Is my money safe with Forexite?

Forexite is regulated by the Belize's International Financial Services Commission (IFSC). One of the most important criteria for traders when choosing a broker like Forexite is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Forexite, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is Forexite a con?

Forexite is regulated and well established having been in business for over 13 years. Forexite is definitely not a con.

Can you make money with Forexite?

Although traders have had great success with Forexite. Trading on the financial markets with Forexite is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.

Does Forexite have fees?

Forexite withdrawal fees varies on payment method.Forexite does charge a fee for inactive accounts. Forexite does charge deposit fees.

When was Forexite founded?

Forexite was founded in 2008.

How many people use Forexite?

Forexite is used by over 10,000 registered Forexite users.

What is Forexite Headquarters country?

Forexite has its head quarters office in British Virgin Islands .

Does Forexite offer negative balance protection?

Forexite does not offer negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does Forexite offer guaranteed stop loss?

Forexite does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does Forexite allow scalping?

Forexite offers scalping.

Does Forexite allow hedging?

Forexite offers hedging.

Does Forexite offer CFD trading?

Forexite offers CFD trading.

Does Forexite offer STP?

Forexite offers STP trading.

How many people use Forexite?

Forexite is used by over 10000 Forexite users and traders.

Is Forexite an ECN broker?

Forexite offers ECN trading.

Does Forexite offer a demo account?

Forexite does not offer demo account.

Does Forexite offer an Islamic account?

Forexite offers an Islamic account.

What are the funding methods for Forexite?

Please note that funding methods and funding options available with Forexite can be found in the Forexite Members area and depend on the Forexite client’s country of residence. Please check your specific available payment methods on the Forexite website. Forexite accept the following funding methods : Bank Transfer, Credit cards, Skrill, Neteller.

Forexite review written by Andrew Blumer and Mark Hansen

We hope you found our review of the Forexite brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

Forexite review written by Mark Hansen of Comparebrokers.co