Company Summary
Note:FOREXBIT's official website: https://www.forexbit.com/ is currently inaccessible normally.
| FOREXBITReview Summary | |
| Founded | 2020 |
| Registered Country/Region | United Kingdom |
| Regulation | Unregulated |
| Market Instruments | Currencies, cryptocurrencies, indices, commodities, stocks, futures |
| Demo Account | / |
| Leverage | / |
| Spread | From 1.8 pips |
| Trading Platform | Simplex, ForexPro |
| Min Deposit | $250 |
| Customer Support | Tel: +44 203 966 6292 |
| Email: support@forexbit.com | |
FOREXBIT is an unregulated dealer founded in 2020 in the United Kingdom. It offers trading instruments including currencies, cryptocurrencies, indices, commodities, stocks, and futures. It supports Simplex and ForexPro as trading platforms, with a minimum deposit of 250 USD.
Pros and Cons
| Pros | Cons |
| Multiple market instruments | Inaccessible website |
| No regulation | |
| MT4/MT5 not available | |
| Limited payment options | |
| High minimum deposit | |
| Withdrawal limits and fees | |
| Inactivity fee charged |
Is FOREXBIT Legit?
No, FOREXBIT is not regulated. Traders should carefully consider the risks it brings when choosing to trade with it.
What Can I Trade on FOREXBIT?
ForexBit provides trading in both forex and binary options, and its offer is very broad in terms of assets. It includes currencies, cryptocurrencies, indices, commodities, stocks, and futures. The brokers crypto coins product range is very wide, including Bitcoin, Ethereum, Ripple, Litecoin, Dash, IOTA, ZCash, Ada, NEO, Bitcoin Cash, Stellar Lumens, and more.
| Tradable Instruments | Supported |
| Currencies | ✔ |
| Cryptocurrencies | ✔ |
| Indices | ✔ |
| Commodities | ✔ |
| Stocks | ✔ |
| Futures | ✔ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Trading Platform
The Simplex platform offers trading in binary options, while the ForexPro is more advanced and intended for forex trades. The latter is also easy to use, but also equipped with a lot of technical analysis indicators and charting powered by TradingView.
| Trading Platform | Supported | Available Devices | Suitable for |
| Simplex | ✔ | / | / |
| ForexPro | ✔ | / | / |
| MT4 | ❌ | / | Beginners |
| MT5 | ❌ | / | Experienced traders |
Deposit and Withdrawal
ForexBit accepts payments via Visa, wire transfer and a number of cryptos including Bitcoin, Ethereum, Ripple, DASH, Monero and others.
The withdrawal fee for wire transfer is 20 USD, with a minimum withdrawal amount of 300 USD. The minimum withdrawal amount for credit card withdrawals is 50 USD.
FOREXBIT Fees
ForexBit charges a monthly administration fee of $50 for accounts that have been inactive for more than 3 months (inactivity fee), and also some administrative fee for chargebacks.
