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FOREXer

Malaysia|5-10 years|
Regulated in Malaysia|Straight Through Processing(STP)|MT4/5 full license|Regional Brokers|New Zealand Financial Service Corporate Revoked|Suspicious Overrun|High potential risk|

https://www.forexer.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

1
Server Name
FOREXer-Server MT5
Server Location Iran

Contact

+971 4 236 6160
support@forex-er.com
https://www.forexer.com/
Office 5, Kim Business Centre 3, Unit F30, 1st floor, Paragon Labuan, Jalan Tun Mustapha 87000, Wilayah Persekutuan Labuan, Malaysia.

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+971 4 236 6160

English

+60 8750 4053

Broker Information

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Warning: Low score, please stay away! 3
Previous Detection : 2024-03-02
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • New ZealandFSPR (license number: 298426) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

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FOREXer · Company Summary

FOREXer Review Summary in 10 Points
Founded 2004
Registered Country/Region Malaysia
Regulation LFSA regulated; FSPR revoked
Market Instruments Forex, Commodities, Cryptocurrencies
Demo Account Available
Leverage Up to 1:500
EUR/USD Spread Floating spreads start from 0.0 pips
Trading Platforms FOREXer5
Minimum Deposit $/€/£1,000
Customer Support Phone, Address, Email, Live chat, Social media, Request form, FAQ

What is FOREXer?

FOREXer is a global brokerage firm based in Malaysia while with operating office in Dubai. It provides traders with access to market instruments including Forex, Commodities, Cryptocurrencies. It is currently under LFSA (Labuan Financial Services Authority) regulation with license no. LL17111 and holds a revoked FSPR (Financial Service Providers Register) with license no. 298426.

FOREXer's home page

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Pros Cons
• LFSA regulated • FSPR revoked
• Multiple customer support channels • No MT4/5 trading platform
• Multiple payment methods
• Zero commissions
• Tight spreads
• Demo account available

FOREXer Alternative Brokers

There are many alternative brokers to FOREXer depending on the specific needs and preferences of the trader. Some popular options include:

  • Plus500- Plus500 is a user-friendly and commission-free platform ideal for beginners, offering a wide range of CFD instruments and a simple interface.

  • eToro- eToro stands out for its social trading features, allowing users to follow and copy the trades of experienced investors while also offering a diverse asset selection.

  • TeleTrade - TeleTrade is a reputable brokerage firm known for its reliable trading services and educational resources, making it a solid choice for traders looking to enhance their skills and trade in a secure environment.

Is FOREXer Safe or Scam?

When considering the safety of a brokerage like FOREXer or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:

  • Regulatory sight: It currently under LFSA (Labuan Financial Services Authority) regulation with license no. LL17111 and holds a revoked FSPR (Financial Service Providers Register) with license no. 298426. The regulation status makes it appears reliable, but it is important to note that experience alone does not guarantee the legitimacy or security of a brokerage.

regulated LFSA license
revoked FSP lioense
  • User feedback: Read reviews and feedback from other clients to get an understanding of their experiences with the company. Look for reviews on reputable websites and forums.

  • Security measures: FOREXer bolsters security by implementing a comprehensive privacy policy, elucidating the meticulous handling and protection of users' personal data.

Ultimately, the decision of whether or not to trade with FOREXer is a personal one. You should weigh the risks and benefits carefully before making a decision.

Market Instruments

FOREXer is a trading platform that caters to the diverse needs of traders, offering a wide array of market instruments to choose from.

Traders on this platform can access the dynamic world of Forex, where they can trade 7 major and exotic currency pairs, harnessing the opportunities presented by the global foreign exchange market.

Additionally, FOREXer extends its offerings to include commodities, enabling traders to speculate on the prices of valuable assets like gold, oil, energies and more.

Moreover, for those intrigued by the emerging world of cryptocurrencies, FOREXer provides access to this exciting market, allowing traders to buy and sell digital assets like Bitcoin and Ethereum.

With this versatile range of market instruments, FOREXer empowers traders to diversify their portfolios and explore various trading opportunities, all under one user-friendly platform.

Market Instruments

Accounts

FOREXer caters to traders of all experience levels by offering two distinct account options.

For those looking to hone their skills or test strategies without risking real capital, the platform provides a demo account generously funded with $10,000 in virtual funds. This invaluable tool allows traders to practice in a risk-free environment and gain confidence before transitioning to live trading.

On the other hand, for traders ready to dive into the live markets, FOREXer offers the Standard Trading Account with a reasonable minimum deposit requirement of $/€/£1,000. This accessibility ensures that traders with varying budget sizes can participate and benefit from the platform's diverse market offerings, including Forex, commodities, and cryptocurrencies.

Standard trading account

Leverage

FOREXER brokerage provides traders with maximum leverages of up to 1:500. Leverage allows traders to control larger positions in the market with a smaller amount of invested capital. With a leverage ratio of 1:500, traders can amplify their trading potential by effectively multiplying their trading capital.

It's important to note that while leverage can increase potential profits, it also amplifies potential losses, as traders are exposed to higher market risk. Therefore, it is crucial for traders to exercise prudent risk management practices, carefully consider their trading strategies, and be aware of the potential implications of using leverage.

Spreads & Commissions

FOREXer provides a cost-effective and trader-friendly environment. With floating spreads that commence from 0.0 pips and a zero-commission structure, traders can enjoy the benefits of tight spreads without the burden of additional fees.

This transparent pricing model ensures that traders can execute their strategies with precision, knowing that there are no hidden charges.

Below is a comparison table about spreads and commissions charged by different brokers:

Broker EUR/USD Spread (pips) Commissions (per lot)
FOREXer From 0.0 pips No commission
Plus500 From 0.5 pips No commissions
eToro From 0.75 pips No commissions
TeleTrade 0.2 pips Variable (depending on account)

Please keep in mind that spread values can vary depending on market conditions, account type, and other factors. Commission structures may also differ based on the broker's pricing model and the type of account being used. It's important to review the official websites or contact the brokers directly for the most accurate and up-to-date information on spreads and commissions.

Trading Platforms

FOREXer5, the trading platform offered by FOREXer, provides a diverse range of trading opportunities, boasting an extensive selection of custom indicators, drawing tools, and integrated news and analysis features. With over 38 technical indicators, detachable charts, three chart types, 21 time frames, and 44 analytical tools, traders can easily execute orders from charts with a single click, set trailing stops, and utilize innovative pending order types like buy stop limit and sell stop limit.

The platform offers a user-friendly interface, customizable charts, and the ability to create personalized Expert Advisors and indicators, along with Depth of Market (DOM) access.

It is compatible with Windows, Mac, Android, iOS, and web, providing flexibility across various devices.

FOREXer5

See the trading platform comparison table below:

Broker Trading Platforms
FOREXer FOREXer5
Valutrades MT4, MT5, cTrader, WebTrader
Pepperstone MT4/5, proprietary platform
TeleTrade MT4/5

Trading Tools

FOREXer enhances its trading toolkit by providing an economic calendar to its clients. This economic calendar is a valuable trading tool that offers real-time information on important economic events, such as economic indicators, central bank announcements, and geopolitical events that can impact the financial markets. Traders can use this calendar to stay informed about scheduled events that may influence currency exchange rates, commodities, and other assets. By keeping track of these economic events, traders can make more informed decisions, manage risk effectively, and seize trading opportunities in the dynamic world of forex and financial markets.

economic calendar

Deposits & Withdrawals

Deposit Methods:

Credit Cards: You can fund your trading account using credit cards. This method offers a quick and straightforward way to add funds to your account.

Debit Cards: Debit cards are also accepted for deposits, providing a secure and convenient option to fund your trading activities.

Wire Transfers: If you prefer bank transfers, you can initiate a wire transfer to deposit funds directly from your bank account into your trading account.

Withdrawal Methods:

Withdrawals are handled efficiently:

Withdrawal Request: Initiate the withdrawal process by submitting a request through www.forexer.club.

Return to Origin: Withdrawn funds are returned to the same source from which the initial deposit was made. This ensures security and compliance with withdrawal procedures.

Customer Service

FOREXer provides multiple customer service options to assist its clients. Customers can reach out to FOREXer through various channels to address their queries and concerns as below:

Phone/whatsapp: +97142366160

Email:info@forexer.com.

Address: DIBC, Deira, Dubai, UAE

Moreover, traders can access real-time assistance through live chat, submit inquiries via a convenient live chat, a request form, or engage with the broker through social media platforms such as Instagram, Telegram, Twitter, Linkedin.

Furthermore, FOREXer offers a comprehensive FAQ page as supplementary customer support resource, providing clients with quick and informative answers to common queries, enhancing their overall trading experience.

contact details

Education

FOREXer offers a valuable educational resource: Personal Trading Mentorship and Courses, all completely free of charge. It equips traders with in-depth courses, live webinars, professional trading tools, and on-demand professional mentoring in an immersive trading experience. This empowers its clients with the knowledge and skills needed to navigate the financial markets successfully. Whether you're a novice looking to learn the basics or an experienced trader seeking to enhance your strategies, these educational offerings provide invaluable insights and guidance.

Education

Conclusion

According to available information, FOREXer is a LFSA-regulated Malaysia-based brokerage firm who operates in Dubai with branches all over the world. Notably it is also FSPR revoked. While the firm offers a range of market instruments such as Forex, Commodities, Cryptocurrencies as market instruments to traders, it is important to consider certain factors such as revoked FSPR regulation that might raise concerns. It is critical that potential clients exercise caution, conduct thorough research and seek up-to-date information directly from FOREXer before making any investment decisions.

Frequently Asked Questions (FAQs)

Q 1: Is FOREXer regulated?
A 1: Yes, it currently under LFSA (Labuan Financial Services Authority) regulation with license no. LL17111 and holds a revoked FSPR (Financial Service Providers Register) with license no. 298426.
Q 2: Does FOREXer offer the industry leading MT4 & MT5?
A 2: No.
Q 3: Is FOREXer a good broker for beginners?
A3: Yes, it‘s a good broker for beginners because it’s well regulated by LFSA.
Q 4: Does FOREXer offer demo accounts?
A 4: Yes.
Q 5: What is the minimum deposit for FOREXer?
A 5: The minimum initial deposit is $/€/£1,000

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

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知足
more than one year
Why is the website all in Persian? My God, I can't understand it at all. I don't even know of any country where this language is spoken. And this company does not have any regulatory license.
2022-12-06 10:34
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林淏轩
more than one year
This Forexer platform seems quite unprofessional, with its website ridiculously simple. This site is unworthy of trading at all… Please don’t waste your money here.
2022-11-29 17:39
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