Risk Management Index
The International Financial Services Commission (IFSC) was established by the enactment of the International Financial Services Commission Act (IFSCA) on 3rd May 1999. The IFSC is a premier regulatory body for the offshore industry in Belize and as the regulatory authority, the IFSC’s responsibility under the IFSC Act, is to enhance Belize as an international financial services center and to regulate the provision of international financial services.
Current Status:Offshore Regulatory
License Type:Retail Forex License
Regulated in Country/AreaBelize
Regulatory License No.：IFSC/60/275/TS/19
Email Address of Licensed Institution :email@example.com
License Type:No Sharing
Website of Licensed Institution :
Expiry Date :--
Address of Licensed Institution :No. 5 Cork STreeT P. O. Box 1708, BELIZE CITY, Belize, C.A.
Phone Number of Licensed Institution :501-223-6910
Most visited countries/areas
The data are from WIKI Research 2021.05.07 updated
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Basic Information & Regulation of FOREXITE
FOREXITE is an online forex broker based in the Virgin Islands and currently holds a retail forex license from the Financial Services Commission of Belize (license number: IFSC/60/275/TS/19).
Security Analysis of FOREXITE
FOREXITE is regulated offshore by the IFSC in Belize. It is well known that brokers that are regulated offshore offer no protection for the safety of investors' funds and trading activities, as do those that are not regulated in any way. Investors should choose a broker subject to first-class regulation, such as the UK FCA, Cyprus CySEC regulation, to avoid funds loss.
FOREXITE provides investors with trading services for major currency pairs, minor currency pairs, and exotic currency pairs.
Accounts & Leverage
FOREXITE offers investors a standard account with a minimum opening amount of $1, a minimum trading lot size of 0.01, and maximum trading leverage of 1:100.
Spreads & Commissions of FOREXITE
The EURUSD spread on the FOREXITE standard account is 4 pips, which is well above the industry standard. Most brokers offer spreads between 1.1 pips and 1.5 pips on the EURUSD, and higher spreads mean higher costs.
Trading Platforms Available of FOREXITE
Forexite has a proprietary platform called TradeRoom, which is web-based only, not very intuitive to use, and has extensive tutorials that obviously must be read carefully. The platform has some of the most basic options and features of major trading platforms such as MetaTrader, but it is neither attractive nor easy to use.
Deposit and withdrawal
FOREXITE supports traders' access to their investment accounts via credit/debit cards, as well as online payment systems such as Skrill, Yandex, and Paxum.
Pros & Cons of FOREXITE
The main advantages of FOREXITE are:
1. Low minimum opening amount
2. Popular funding options, such as Skrill
The main disadvantages of FOREXITE are:
1. Offshore regulation
2. Non-MT4 trading platform
3. Fewer tradable assets
4. High spreads & transaction costs
5. Only one account option available
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