Forexite review
Forexite is a Multi-Assets Trading Platform with over 110+ Assets
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. A financial asset is any security or asset that has financial value attached, tangible or intangible. This means that Forex trading, Share Dealing are considered financial assets.
Features of Forexite
- Forexite offers Advanced Financial Chart comparison tools
- Forexite offers Research-backed analysis on financial markets and investments from top analysts
- The Forexite platform is available to use on multiple devices including and online through a Web Browser.
- Forexite offers a trading platform with tools for both New Traders and Seasoned Experts
- Forexite users benefit from using the Forexite platform in over 15 different languages
Forexite review
What you should know
Forexite offer two ways to trade: Forex trading, Share Dealing. The assets and products available to you on the Forexite trading platform depends on the region of the world, you are in and the Forexite entity you have an account.
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 considering Forexite for your trading activities, its financial regulatory status in your region is crucial. One of the primary considerations when evaluating a broker, such as Forexite, is to assess the broker's regulatory status and administrative body. Brokers operating without supervision from a regulatory authority are free to make their own rules, which may pose a risk to investors. Any capital you invest is at risk.
Established in 2008, and in operation for 16 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.
Forexite withdrawal requests will be honoured. Brokers that operate under the supervision of regulatory authorities like Forexite are subject to strict guidelines that prohibit them from manipulating market prices to their advantage. Regulatory oversight ensures brokers operate with integrity, fairness, and transparency, safeguarding investors' deposits. Forexite are held accountable for their actions and may face severe consequences if they violate any financial regulations. If you are a client of Forexite and wish to withdraw funds from your account, you can rest assured that your request will be processed promptly. Forexite has a reputation for efficient and reliable fund transfers, and adhere to the rules of the financial regulators they are regulated with. When you submit a withdrawal request, Forexite will verify your account details and process the payment within the stipulated timeframe, usually within a few business days. By partnering with a trustworthy broker like Forexite, you can enjoy peace of mind and focus on your trading activities. If Forexite violate any regulatory rules their regulated status could be stripped.
Your capital is at risk
Is my money safe with Forexite?
All payments made to Forexite by traders are securely held in a segregated bank account.
Forexite uses Tier 1 banks for increased security. These banks are deemed the most reliable for client capital due to their strong core capital reserves and ability to withstand losses.
What are Tier 1 banks and why should Forexite use them?
Forexite partnering with Tier 1 banks offers reliability, efficient payment processing, reduced counterparty risks, and better protection for client funds. These banks are the most financially stable and secure institutions globally, with robust financial strength and high-quality risk management practices. They hold substantial core capital reserves, making them capable of handling unexpected losses and market volatility without endangering their Forexite clients' funds.
Forexite clients can have greater confidence in their financial security when working with a Tier 1 bank because Forexite are subject to strict regulatory oversight and must adhere to stringent guidelines to maintain its Tier 1 status.
What does it mean to have your funds in Forexite deposited in a Tier 1 bank?
Depositing funds with Forexite ensures that your money is held in a secure bank account with sufficient capital to meet your withdrawal requirements, even if Forexite were to go out of business unexpectedly.
Based on the information presented, it is safe to conclude that Forexite is a secure and safe platform.
Please be aware that trading in financial assets with Forexite carries a risk of loss. Forexite trading risk can occur due to inadequate market research, lack of experience, or failure to use the platform tools. It is common to experience rapid losses when trading financial investments like Forex trading, Share Dealing due to market volatility. Therefore, you should only risk trading when you understand that your capital is at risk at any time.
Forexite emphasizes this risk on its platform and provides clear risk warnings - Your capital is at risk. After answering some important questions about Forexite, let's closely examine its features.
To better understand the Forexite trading platform, you can create two separate accounts - one with real money and the other a Forexite demo account. A Forexite demo account provides a risk-free environment for experimenting with the Forexite platform's features and trading strategies before risking your actual funds. This approach can help you gain experience and confidence in Forexite trading decisions.
Open a demo account Visit Forexite
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
|
IC Markets
|
Roboforex
|
eToro
|
|---|---|---|---|---|
| Year Established | 2008 | 2007 | 2009 | 2007 |
| Head Office | British Virgin Islands | Australia | Belize | Cyprus, UK |
| Regulation | Belize's International Financial Services Commission (IFSC) | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund | FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076 |
| Used By | 10,000+ Forexite users | 180,000+ IC Markets users | 1,000,000+ Roboforex users | 30,000,000+ eToro users |
| Negative balance protection | Yes | Yes | Yes | |
| Guaranteed Stop Loss | No | No | No | |
| Learn More | Visit Forexite | Visit IC Markets | Visit Roboforex | Visit eToro |
| Risk Warning | Your capital is at risk | Losses can exceed deposits | Losses can exceed deposits | 76% of retail investor accounts lose money when trading CFDs with this provider. |
Forexite review
Forexite Pros and Cons
Forexite review
Forexite Regulation and Licensing in more detail
Forexite is regulated by trusted organizations, providing recourse for any issues. Regulatory bodies protect traders through reimbursement schemes in case of Forexite going into insolvency. Forexite compliance with rules and criteria set by regulatory authorities is mandatory for brokerage firms like Forexite to maintain licenses and operate in certain jurisdictions. Financial regulation and licensing are crucial for creating a secure trading environment for Forexite traders.
- Belize's International Financial Services Commission (IFSC)
Forexite is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the brokers' behaviour, and they will take necessary action if things go wrong. Before trading online with a broker like 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 Africa, Asia, Oceania, and Europe. Major countries Forexite covers include the UK, Germany, South Africa, Thailand, the United States China and Australia. 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. A currency conversion fee may be applied as withdrawals and deposits from Forexite are conducted in USD. Any other currency will have to be converted to your local currency by your 3rd party payment provider.
Forexite Costs To Check
Modern brokers like Forexite provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, Forexite may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall Forexite trading profitability.
How Forexite Fees Compare Against Other Brokers
| Broker |
forexite
|
IC Markets
|
Roboforex
|
eToro
|
|---|---|---|---|---|
| Min Deposit | 0 | 200 | 10 | 100 |
| Withdrawal Fees | varies | No | Yes | Yes |
| Inactivity Fees | No | No | Yes | |
| Deposit Fees | Varies | No | No | |
| CFD Commission Fees | Yes | No | Yes |
Forexite Minimum Deposit
Forexite does not require a minimum deposit when opening an Forexite trading account.
In the trading world, brokers like Forexite, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don't require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features.
Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.
However, it's important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD. Therefore, it's essential to research and compares different brokers to determine which best suits your trading needs and budget.
Forexite Withdrawal Fees
The fees for withdrawing funds from your Forexite account will differ depending on your chosen payment method. Reviewing the fees associated with each payment method before making your Forexite withdrawal request is important.
Forexite Withdrawal rules may vary across different brokers when it comes to transferring funds from your Forexite or other broker trading account. Each brokerage firm has its specific withdrawal methods. The payment provider associated with Forexite may have different transfer processing fees and processing times, affecting how long it takes to receive your funds.
In addition, currency conversion fees may apply if the Forexite withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from Forexite. Researching and comparing Forexite withdrawal policies and fees across different brokers is essential before choosing one, especially if you are withdrawing Forexite funds frequently or dealing with large sums of money. Awareness of these Forexite fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your Forexite funds.
For example, Forexite allows you to withdraw your funds to Bank Transfer, Credit cards, Skrill, Neteller.
Forexite Inactivity Fees
Forexite does charge a fee for inactive accounts.
When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by Forexite terms and conditions. It's important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them.
Make sure you're fully aware of all Forexite fees and services. It's recommended that you check the Forexite website before signing up. If you decide to close your Forexite account, it's important to do so with the Forexite broker customer support and obtain confirmation that no remaining Forexite fees are due.
Brokers like Forexite must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.
Certain brokers may levy inactivity fees to recoup the expenses associated with sustaining your account on their trading platforms when there is a shortage of commission fees earned from your trading activities.
Forexite Deposit Fees
Forexite do charge deposit fees.
Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee.
Depositing funds into your trading account may incur a fee, which could vary depending on the fiat currency used. For instance, depositing funds from a credit card can attract high fees. Additionally, not all brokers accept credit card payments for account funding. It's crucial to review the funding options and associated fees the broker provides before depositing any funds.
Forexite Commission Fees
Forexite does charge commission on CFD instruments.
Brokerage firms like Forexite may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the Forexite trading account level held by the trader.
Forexite may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing Forexite terms and conditions to understand the commission fees and any other charges that may apply is essential.
Forexite review
What can you trade with Forexite?
It's essential to note that the trading instruments offered under the Forexite brand may vary depending on the customer account holder and country of residence due to regulatory restrictions. Besides, the trading platform the customer selects may also impact the available trading instruments. Therefore, before trading, verify the Forexite trading instruments available and the regulations governing them based on your account holder, location, and chosen platform.
You can trade a wide variety of instruments with Forexite over 110 instruments in fact.
If you want to trade currency pairs on global Forex markets, Forexite offer over currency pairs.
Forexite Compared To Other Brokers
Compare Forexite with IC Markets and Roboforex below.
How Forexite Trading Options Compare Against Other Brokers
| Broker |
forexite
|
IC Markets
|
Roboforex
|
eToro
|
|---|---|---|---|---|
| Instruments Available | 110 | 2250 | 100 | 5000 |
| Platforms | MT4, MT5,WEB | MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
| FX / Currencies | ||||
| Forex pairs offered | 61 | 35 | 50 | |
| 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 | No | Yes |
| Commodity CFDs | ||||
| Commodities Offered | 0 | 20 | 21 | 31 |
| Metals | Yes | Yes | Yes | Yes |
| Energies | Yes | Yes | No | Yes |
| Agricultural | Yes | Yes | No | Yes |
| Indiced & Stock CFDs | ||||
| Stocks Offered | 2100 | 0 | 2042 | |
| 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 IC Markets
Losses can exceed deposits |
Visit Roboforex
Losses can exceed deposits |
Visit eToro
76% of retail investor accounts lose money when trading CFDs with this provider. |
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 trading apps help you stay on top of your trades and execute them on the go.
See Forexite's platformsIs the Forexite Trading Platform Secure?
You should take the security of your personal information seriously and check SSL encryption is enabled on the Forexite trading platform to protect you on PC and mobile Forexite platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using Forexite web trading platforms.
Forexite Trading Platform Options
After logging into your Forexite account, you'll find a range of trading platform options available below.
- MetaTrader 4 (MT4)
- MetaTrader 5 (MT5)
Forexite does not support the cTrader trading platform. However, if you're looking for a broker that does offer cTrader, you can explore other options available through the provided link.
Let's explore each of these trading platforms in detail and what options Forexite gives you.
Forexite review
Forexite MetaTrader 4 (MT4)
Forexite MetaTrader 4 (MT4) In Detail
MetaTrader 4, commonly known as MT4, has been a well-known and widely used trading platform in the financial markets since its inception in 2005. MT4 on Forexite offers traders comprehensive features and tools to enhance their trading performance. The Forexite MT4 user-friendly interface and highly customizable trading environment allow traders to tailor the Forexite platform to their needs. One of the standout features of MT4 is its charting functionality, which allows Forexite traders to analyze price movements and make informed trading decisions. Additionally, advanced order management tools give Forexite traders greater control over their trades, allowing them to manage risk better and optimize their trading strategies on the MT4 Forexite trading platform.
MetaTrader 4 (MT4) was created mainly for Forex trading, but it can also facilitate the trading of other financial instruments via CFDs and Spread Betting. You cannot trade real assets like stocks, shares, commodities, indices and ETF's on the Forexite MetaTrader 4 (MT4) trading platform. MT4 is a platform available with Forexite, that facilitates trading financial instruments in the form of CFD contracts or Spread bets. The Forexite MT4 platform does not provide access to physical assets such as stocks, commodities, or ETFs for trading. Forexite allows trading CFDs and Spread bets, which do not involve owning underlying assets but speculating on price movements, using high risk leverage. To gain more information about the MT4 Platform, click 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 PCs and Apple Macintosh computers. Forexite MetaTrader 4 is compatible with the latest macOS. Forexite allows traders to trade on mobile devices through Android and iOS devices like the iPhone.
Metatrader 4 Webtrader on Forexite
MetaTrader 4 (MT4) is a widely used trading platform in the world, offering a range of advanced tools and features. Recently, MT4 has been made available as a web-based application through a web browser, enabling traders to access the platform from anywhere.
The web version of MT4 provides the same user-friendly interface and customizable trading environment as the desktop version. With MT4 web, traders can access advanced charting tools, online trading indicators, and a Dealing Desk-free trading environment.
Additionally, traders can enjoy Raw Pricing without any intervention from brokers. Overall, MT4 web is a convenient and efficient way for traders to access the platform and manage their trades.
Trade Forexite MetaTrader 4 on iOS Devices
You can download the Forexite app or trade with Forexite through the MetaTrader 4 application on the Apple app store.
Download the Metaquotes MetaTrader 4 Program free of charge from Apple's App Store. Forexite customers have instant access to the financial market and can completely manage a Portfolio on the go.
Trade Forexite MetaTrader 4 on Android Devices
Millions of people worldwide use Android mobile devices and tablets, and Forexite offers its clients access to the MetaTrader 4 platform on these devices. With the Forexite MetaTrader 4 Android application, traders can monitor the financial markets and execute trades directly from their Android-based smartphones and tablets. This app provides access to a range of advanced trading features, allowing Forexite traders to stay on top of their trades and react quickly to changes in the market. With the Forexite MetaTrader 4 Android app, traders can securely manage their trades on the go, making it a convenient and efficient way to stay connected to the market.
Trade Forexite MetaTrader 4 Trading Central
Trading Centrals Alpha Generation Indicators available on Forexite are a powerful bundle of three major indicators designed to help traders make informed decisions. Forexite MT4 Trading Central indicators include:
- Analyst Perspectives - A valuable resource for traders seeking leadership insights and key levels.
- Adaptive Candlesticks - This indicator is capable of identifying chart patterns that highlight significant changes in demand and supply.
- Adaptive Divergence Convergence (ADC) - Similar to MACD, but with greater utility at shorter lengths, this indicator provides more timely signals.
Trading Centrals Alpha Generation Indicators can help Forexite traders better understand market trends and patterns, enabling them to make more informed trading decisions. These indicators can provide valuable insights into market movements, allowing Forexite traders to potentially stay one step ahead.
Forexite MetaTrader 4 Advanced Trading Tools
The Forexite MetaTrader 4 trading platform has advanced tools that enhance the overall trading experience and give Forexite traders detailed market tools. With feature-rich trade execution and management programs, sophisticated notification alarms, messaging facilities, innovative market data, and more, Forexite provides traders with everything they need to succeed. The Forexite MT4 platform also includes a range of technical analysis tools, with 30 indicators built in, 2000 plus free indicators, and the availability of paid indicators, allowing Forexite traders to analyze the market at any level of complexity.
Trade Forexite MetaTrader 4 MultiTerminal
MetaTrader 4 MultiTerminal offers traders an intuitive and user-friendly dashboard to manage and monitor multiple trading accounts. This powerful tool allows traders to oversee over 128 accounts simultaneously, enabling them to place market and pending orders, view real-time market prices, and track all accounts and equity in real-time.
It's important to note that MultiTerminal only supports trading accounts on the same MetaTrader server and doesn't allow automated trading scripts such as Expert Advisors.
This tool is ideal for traders who manage several accounts simultaneously and require a more efficient and effective way to track and execute trades. You can have up to 10 demo accounts on MetaTrader 4 MultiTerminal.
Forexite MetaTrader 4 & MetaTrader 5 AutoChartist
Autochartist on the Forexite platform is a powerful tool designed to help traders find trading opportunities quickly and easily.
Available for Forexite MetaTrader 4 and MetaTrader 5 Autochartist can scan the market using an expert advisor script.
With Autochartist, Forexite traders can scan multiple markets and timeframes from a single graph, making it easy to keep track of all their preferred symbols without launching multiple graphs. Using Autochartist can save Forexite users time and makes the trading process more efficient.
The Autochartist interface is user-friendly and can be customized to suit individual trading preferences. Forexite traders can navigate the platform and find the information they need to make informed trading decisions.
Forexite Autochartist is a valuable tool for traders who want to stay ahead of the curve and identify trading opportunities quickly and easily. With its powerful features and easy-to-use interface, Autochartist is an essential tool for Forexite traders of all experience levels.
Forexite review
Forexite MetaTrader 5 (MT5)
Forexite MetaTrader 5 (MT5) In Detail
Forexite MetaTrader 5 (MT5) is a multi-asset trading platform with an extensive range of trading features and financial research tools. Besides the ability to trade Forex and CFDs, Forexite MT5 offers access to trade Futures, Stocks, Algorithmic Trading, ETFs, and Indices. MT5 was launched in 2010 and came with advanced charting tools, additional timeframes, and an updated version of MetaTrader 4.
MT5 on Forexite provides the convenience of using automated trading systems and copy trading, giving Forexite traders competitive research tools in the financial markets.
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. MT5 on Forexite features a massive 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 analyze the financial markets.
Forexite review
Forexite MT5 Buying and Selling
Forexite MetaTrader 5 on iOS Devices
Forexite MetaTrader 5 Can Operate on newer iOS devices like the iPhone and iPad. MetaTrader 5 requires a mobile internet connection or a connection to Wi-Fi. You should 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
The Forexite MetaTrader 5 trading platform is available on Android smartphones or tablets powered by the Android 5.0 or higher operating system. Additionally, to connect to the Forexite trading server. Take the time to understand all of the Forexite Android MetaTrader 5 features. With Forexite MetaTrader 5 for Android, you can trade various financial instruments anytime, anywhere.
Forexite Metatrader Mobile Application Features
MetaQuotes, the developers of Metatrader, have listened to the feedback of their millions of users and have built what has become one of the most popular mobile trading platforms in the world. MetaTrader features include :
- Forexite Financial instrument quotes
- View in-depth price charts of financial instruments with Forexite MetaTrader
- Manage trades and open positions on Forexite MT4 & MT5
- View your Forexite trading history
- View market news
- MetaTrader internal messaging on Forexite
- View and research market statics of Forexite financial instruments
- Forexite Position opening and closing
- Lookup symbols in the Forexite MetaTrader quotes section
- Display of deals on Forexite graphs
- Forexite Timeframe selection for graphs and charts
- Additional vertical scaling of Forexite graphs
- Capability to transfer Forexite 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 with Forexite
Forexite MetaTrader 5 Advanced Trading Tools
Forexite MetaTrader 5 has many advanced trading tools for more advanced users. Understanding these tools can give you a competitive edge.
- Forexite MT5 Depth of market bids and asks
- Financial Price Data on Forexite
- Margin Calculation, Futures, Forex on Forexite
- Advanced Techincal Analysis on Forexite MT5
- One click trading on Forexite MT5
- Forexite Spreads
- Forexite Futures
- Forexite Trading Reports
Forexite Trading benefits
- Forexite Allows scalping
- Forexite Allows hedging
- Forexite Offers STP
- Forexite Low min deposit
Forexite Trading Accounts Offered
Below we give an overview of 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.
- Forexite Standard account
- Forexite ECN account
- Forexite STP account
- Forexite Islamic account
Can I try Forexite?
Forexite provides a demo account that enables individuals to explore trading before investing their funds. By creating a Forexite practice account, users can gain experience and knowledge of how to trade effectively. Demo trading accounts like the Forexite demo account can help individuals to make informed decisions before investing their money.
Open a demo Forexite account to practice and trade.
Your capital is at risk
Forexite withdrawal and funding methods
It's essential to remember that the payment methods provided by Forexite vary based on the Forexite entity and the Forexite client's country of residence. To view the Forexite payment options available, you can log into your Forexite member's area.
Forexite offers various funding payment methods listed in your Forexite dashboard if available in your region. To learn more about the Forexite funding and withdrawal options available in your area, you can explore the Forexite website.
Forexite provides several payment methods for funding your Forexite account. You may utilize any of these deposit options if they are available in your region. Forexite ensures that users have multiple payment methods to choose from, making it more convenient for verified Forexite account holders to add funds to their accounts. However, it's important to note that the availability of payment methods may vary depending on the Forexite user's location. learn more about Forexite funding and withdrawal methods.Forexite Payment Methods
Some Forexite payment methods are local and are available only to specific regions. Forexite account holders should check which payment methods are provided in your region.- Forexite accepts Bank Transfer
- Forexite accepts Credit cards
- Forexite accepts Skrill
- Forexite accepts Neteller
| Broker |
forexite
|
IC Markets
|
Roboforex
|
eToro
|
|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes |
| Credit Cards | Yes | Yes | Yes | Yes |
| Paypal | No | Yes | No | Yes |
| Skrill | Yes | Yes | Yes | Yes |
| Payoneer | No | No | 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?
To open a trading account with Forexite, individuals can sign up on the Forexite website. Upon completing the signup process, users will receive login details via email, which they can use to access their accounts.
The next step involves submitting identification documents for Forexite account validation and making a deposit. Once completed, Forexite users can download the trading platform of their choice.
It's important to note that Forexite requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps Forexite maintain a trustworthy financial environment for its 10,000 users. Detailed information on the Forexite trading platforms is available on their website.
Your capital is at risk
Performing trades with Forexite
When using Forexite, the minimum trade size is typically varies units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened. Forexite have a max trade of varies. With the ECN and STP execution methods offered by the platform, traders using Forexite can enjoy tighter spreads and greater transparency when it comes to the pricing of their trades.
Like other brokers, Forexite margin requirements can differ depending on the traded instrument.
CFD Trading on Forexite
We will show you an example of the basics of using Forexite leverage.
CFD trading on Forexite allows traders to speculate on the price movements of various financial instruments against the broker Forexite, without actually owning real assets. With CFDs, Forexite traders can profit from upward and downward price movements by going long (buying) or short (selling) on an asset.
Forexite provides CFDs which are leveraged products. For this example, let's assume a ten times leverage. So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account. With high-risk leverage, a small sum controls a much bigger financial position.
The effect of leverage on profits and losses magnifies them in both directions. In other words, Forexite leverage profits and losses are magnified when trading. For instance, using CFDs, you use the Forexite trading platform to buy/sell $10,000 worth of Apple Computer Inc. If the stock rises by 10% due to positive results, your position is now worth $11,000, representing a $1,000 or 10% increase in value. This CFD trade has a 100% increase in the funds initially committed.
On the other hand, if Apple Computer Inc falls by 10%, your position worth $10,000 is now worth only $9,000, representing a $1,000 decrease. Therefore, Forexite leverage magnifies both profits and losses in trading.
Trading CFD trades on the Forexite platform can provide more flexibility than traditional market trades, allowing access to CFD fractional shares, international markets, and short selling. They are commonly used for short to medium-term trades, such as intraday CFD trading, but are high-risk due to their separation from the financial markets.
Experienced Forexite traders can trade high risk CFD trades to hedge items in their portfolio.
Always be aware that CFDs are complex instruments 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 have a good understanding of the Forexite trading tools and the markets. Make sure you make full use of all education tools. Including educational tools with Forexite and externally.
Forexite . It's essential to take the time to learn about the financial markets and understand how they move before diving into trading with Forexite. Familiarizing yourself with the Forexite trading platform is crucial to use it effectively.
While learning, you can also use global trading times to practice making live buy or sell trades using Forexite. This hands-on experience can help you gain confidence and become more comfortable with trading.
Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with Forexite involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.
Learning about the financial markets, trading platforms like Forexite, and risk management techniques can help you become a more confident and successful trader.
Take an analytical approach to trading with Forexite. Explore the Forexite platform and train yourself to think systematically and logically about the markets.
While it may be a new skill set for some, it is what the market requires for success. Developing your trading skills with Forexite, before live trading.
Customer Support at Forexite
As part of our Forexite review, we review customer service options, response times and problem resolution effectiveness on the Forexite trading platform. The Forexite trading platform supports multiple languages, which includes English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian.
Forexite Available Support Types
Based on our experience, we have given Forexite a D grade for customer support. We encountered some slow response times or Forexite queries that were left unanswered.
Compared to other brokers, Forexite offers fewer customer support features. They do not provide live chat support, and their phone and email support can also be slow.
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 tested the email support of Forexite by sending 25 emails simultaneously, and our experience was mixed. While the answer times were generally excellent, with the fastest response being 3 hours, the slowest response was 6 days. We also encountered some instances where we did not receive any Forexite response.
The Forexite team did resolve and answer our queries, but the email support from Forexite was overall average compared to other brokers we have tested.
Phone Support at Forexite
We contacted Forexite via phone and received quick assistance within 10 minutes of our call.
The Forexite phone support team proved to be helpful and able to resolve our queries and issues over the phone. We also tested the multilingual support provided by Forexite and found that they could assist us in various languages.
While we found the Forexite phone support satisfactory, there is room for improvement in response time.
See how Forexite Support Compares Against Other Brokers
| Broker |
forexite
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IC Markets
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Roboforex
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eToro
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|---|---|---|---|---|
| Support |
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| Languages | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more | English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian | English, German, Spanish, French, Italian |
| Learn More | Visit Forexite | Visit IC Markets | Visit Roboforex | Visit eToro |
| Risk Warning | Your capital is at risk | Losses can exceed deposits | Losses can exceed deposits | 76% of retail investor accounts lose money when trading CFDs with this provider. |
What you will need to open an account with Forexite
As Forexite is regulated by Belize's International Financial Services Commission (IFSC).
As a new client of Forexite, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with Forexite in your region. During the Forexite account opening process, you will be asked to provide Forexite with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address.
When registering with Forexite have the following documents available.
- Forexite require a scanned colour copy of your passport, driver's license or national ID card.
- A recent utility bill or bank statement that confirms your residential address for Forexite compliance. This must be dated within the last six months.
- If you plan to fund your Forexite account using a credit or debit card, you will need to provide a scanned copy of the front and back of your card. You can mask any sensitive information like the CVV code on the Forexite platform.
It's worth noting that the expiration date of the proof of address document may differ for different entities under Forexite Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you've passed compliance, you can start exploring Forexite's platform.
However, remember that you won't be able to make trades on Forexite until you have passed compliance, which may take several days, depending on your circumstances. It's essential to complete the Forexite KYC compliance process as soon as possible to avoid any delays in accessing the Forexite platform's features.
It is important to note that Forexite may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the Forexite platform and features immediately. However, you must pass the verification process to start live trading with Forexite, which can take up to a few business days.
To start the process of opening an account with Forexite you can visit the Forexite trading platform here.
Your capital is at risk
You should consider whether you can afford to take the high risk of losing your money.
CFDs are leveraged products and can result in significant losses, excess of your invested 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 investment advice. All information collected from https://www.forexite.com/ on April 22, 2024.
Is Forexite A Good Broker?
We have spent over 5 years examining Forexite in depth. Although we found some very useful aspects of the Forexite platform that would be useful to some traders. We feel that a alternative to Forexite may better suit you.
- Forexite have a good track record of offering Forex trading, Share Dealing.
- Forexite has a history of over 16 years.
- Forexite has a reasonable sized customer support of at least 10.
- Forexite are regulated by the Belize's International Financial Services Commission (IFSC). Forexite is subject to strict regulatory oversight from its respective jurisdiction, which holds Forexite (the broker) accountable for misconduct. This regulatory framework helps ensure that Forexite operates fairly and transparently and provides Forexite customers with a safe and secure trading environment. In any disputes, the regulatory body may also act as an arbitrator to help resolve issue between you and Forexite.
- Forexite have regulation from reputable regulators.
- One of the advantages of using Forexite is the quick processing time for deposits and withdrawals, which typically takes only 2 to 3 days. Fast withdrawals from Forexite are particularly important as Forexite traders want to receive their money quickly. With the efficient Forexite payment processing system, traders can enjoy faster access to their Forexite funds.
- Forexite have an international presence in multiple countries. Including local Forexite seminars and training.
- Forexite can 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 such as cryptocurrency and foreign currency markets involves high risk and is unsuitable for everyone. When trading on leverage, the potential for loss is significantly higher than when dealing with just your funds. Risky trading leverage allows you to control larger positions with less capital, increasing both the potential for profit and loss.
You will be exposed to a high risk of loss regarding leverage and margin-based trading.
Furthermore, some off-exchange financial instruments and derivatives may offer varying leverage levels and may not be subject to the same regulatory protections as exchange-traded instruments. As a result, they may be subject to higher levels of market volatility and carry a higher degree of risk.
It is important to note that no investment product, technique, or strategy can guarantee profits, and past performance does not necessarily indicate future results. Any investment involves the possibility of financial loss, and it is important to carefully consider your investment objectives, risk tolerance, and financial situation before making any investment decisions.
Trading financial instruments is a high-risk activity that requires careful consideration and risk management. It is important to be aware of the potential for loss and to only invest what you can afford to lose.
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.
After extensive research over several years, we have compiled a list of the most effective Forexite alternatives available today. If you are unsatisfied with Forexite or want to explore other options, we recommend checking out our carefully curated list of highly-rated Forexite alternatives. Follow the links below to learn more about these Forexite broker alternatives and choose the one that best suits your trading needs.
- IC Markets Review
- Roboforex Review
- eToro Review
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- XM Review
- Pepperstone Review
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- Core Spreads Review
Related Forexite Vs Comparisons
Throughout our comprehensive Forexite review, we have covered a lot of ground and provided an in-depth analysis of the platform's features and functionality.
If you're interested in comparing Forexite against other popular brokers in the industry, check out our Forexite Vs pages. Our team has compiled a series of detailed Forexite comparison articles, pitting the Forexite platform against some of the best-rated Forexite competitors in the market. Dive into our informative Forexite Vs pages below to find out how Forexite stacks up against other leading brokers.
- Forexite vs ICMarkets
- Forexite vs Roboforex
- Forexite vs eToro
- Forexite vs XTB
- Forexite vs XM
- Forexite vs Pepperstone
- Forexite vs AvaTrade
- Forexite vs FPMarkets
- Forexite vs NordFX
- Forexite vs easyMarkets
- Forexite vs SpreadEx
- Forexite vs FxPro
- Forexite vs Plus500
- Forexite vs AdmiralMarkets
- Forexite vs ThinkMarkets
- Forexite vs FXPrimus
- Forexite vs Trading212
- Forexite vs ForexMart
- Forexite vs Eightcap
- Forexite vs ForTrade
- Forexite vs InteractiveBrokers
- Forexite vs Forex.com
- Forexite vs IG
- Forexite vs Robinhood
- Forexite vs Coinbase
- Forexite vs Binance
- Forexite vs ETXCapital
- Forexite vs CoreSpreads
Forexite review
FOREXITE Frequently Asked Questions
Read our detailed Forexite FAQ Section updated for 2024.
Can I try Forexite?
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 depends on the Forexite Entity and the client's Country of Residence.
Forexite offer the following funding payment methods Bank Transfer, Credit cards, Skrill, Neteller, among other payment methods.
Learn more here
Is Forexite safe?
Forexite have over 10,000 users. Forexite are considered reliable 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 bank's financial health and strength.Trading with Forexite is risky, and because the market is so volatile, losses could happen at any time. Do not invest with Forexite unless you are prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
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 16 years. Forexite offers clients Forex trading, and Share Dealing trading. All funds deposited to Forexite are held in segregated 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 allows Forex trading, and Share Dealing trading. Forexite is overseen by the top tier financial regulators Belize's International Financial Services Commission (IFSC) so can be considered a good broker.
Is Forexite trustworthy broker?
Forexite is a reliable platform that can be considered trustworthy due to its strict regulatory practices. When you fund money to Forexite, money is in a segregated bank account that is separate from Forexite company's funds. As a regulated broker, Forexite cannot directly access your funds, which minimizes the risk of misappropriation or fraudulent activity by Forexite. Instead, your Forexite funds are held securely in a separate account designated for your investments, providing protection and peace of mind when trading with Forexite. Also Forexite is regulated in its local jurisdictions including major financial regulators like 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 1-5 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 brought or sold by Forexite even if no buyer or seller is lined up.
How can I start trading with Forexite?
When opening a trading account with Forexite, you will need to sign up here. After completing the necessary steps of receiving login details via email, submitting identification documents for account validation, and making a deposit, the next step is downloading the preferred trading platform. For detailed guidance on Forexite trading platforms, you can follow the link provided below: Learn more about signing up with the Forexite trading platform here. This will provide useful information and insights into the various trading platforms offered by Forexite, enabling you to make an informed decision about which platform to choose for your trading needs.
Is my money safe with Forexite?
Yes your money is safe with Forexite.
Overall, strict financial regulation is essential for ensuring that trading platforms like Forexite operate fairly, transparently, and responsibly, which ultimately benefits all Forexite stakeholders involved.
Trading platforms like Forexite must have strict financial regulation for several reasons:
- Protecting Forexite Investors: Strict financial regulation ensures that investors who use the Forexite trading platform are protected against fraudulent or unethical behavior by the Forexite platform or its employees. Financial regulation can help to prevent investors from losing their money due to dishonest practices by the Forexite platform.
- Maintaining Forexite Financial Stability: Strict regulation helps maintain the financial system's stability by preventing excessive risk-taking when using the Forexite trading platform. Regulatory procedures reduce the likelihood of the Forexite platform experiencing financial difficulties or failing, which could have ripple effects throughout the financial system.
- Enhancing Forexite Transparency: Regulations require trading platforms like Forexite to maintain detailed records and disclose Forexite client information. Financial regulatory requirements enhances transparency and helps to build trust between the Forexite platform and its investors.
Forexite is regulated by the Belize's International Financial Services Commission (IFSC). When selecting a broker such as Forexite, one of the most critical factors to consider is the broker's regulatory body and regulatory status. Unregulated brokers pose a direct risk to the security of their client's funds, as they operate without any oversight or regulation. In contrast, regulated brokers are subject to strict rules and regulations that prevent them from manipulating market prices or engaging in fraudulent activities. As a reputable broker, Forexite ensures that withdrawal requests are processed promptly, demonstrating its commitment to transparency and accountability. However, brokers that violate regulatory rules can face the consequences such as losing their regulatory status in specific regions, highlighting the importance of working with a trusted, regulated broker for your trading needs like Forexite.
Is Forexite a con?
Forexite is regulated and well established, having been in business for over 16 years. Forexite is 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 vary on payment method.Forexite does charge a fee for inactive accounts. Forexite do 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, 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 guaranteed 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 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
