Forex.ee Broker Reviews and Full Information

Forex EE has been operating as an ECM broker for more than a decade. This forex brokerage, which was established in 2004, provides a diverse range of trading platforms and products to its clients. This forex brokerage, which offers leverage of 1:500 and spreads as low as 0 pips, is also well-known for its quick execution of trades, inexpensive commissions, fees, and deposits. Forex EE is a customer-focused organization that prioritizes the requirements of its clients. Clients of different sorts may benefit from the trading accounts, which include Crypto Accounts, STP Accounts, and ECN Accounts, among others.
NTS Systems Ltd, situated in St Vincent and the Grenadines, owns and operates Forex EE, which is a forex trading platform. The company's registration number is 24957 IBC 2018 (International Business Corporation). Clients may either practice forex trading with a demo account or put their trading talents to the test with a real account, depending on their preference. Because of the low account minimum deposits, all traders will be able to afford to get started with this brokerage. SSL encryption technology, KYC (Know Your Customer) procedures, and AML (Anti-Money Laundering) standards are all in place to provide the highest level of safety and security.

Overview/ background

In the forex industry, Forex EE is known for being a reputable, safe, and transparent forex brokerage. Given that ECM commissions start at only one dollar, this prominent forex broker is surely worth considering by prospective customers. Professional traders often come to Forex EE in order to take advantage of the many incentives on offer. Among them include the absence of re-quotes and interventions, the absence of trading limitations, total transparency, and the absence of conflicts of interest. Casual traders will appreciate, among other things, the low deposit minimums of $50, and with spreads as low as 0 pips and leverage as high as 1:500, this forex broker really has something to offer everyone.

The advanced technology that Forex EE provides is perhaps the most noteworthy advantage of dealing with them. Forex trading using major pairings, minor pairs, and exotic currency pairs is made possible by powerful trading platforms such as MT4 ECN, which are available for download. This broker also has a substantial amount of liquidity and collaborates with top-tier international banks. Other advantages supplied by this well-established brokerage include slippage control and full ECN/STP processing, among other features. Clients may, however, choose to contact support about the possibility of their money being mixed with business funds, since segregation of funds is not explicitly mentioned.

Account Types

Clients have access to multiple account types, notably ECN accounts, STP accounts, and Cryptocurrency trading accounts.

STP account – requires a minimum deposit of $50 to open. The minimum trading lot is 0.01, and spreads are as low as 0.5. The maximum leverage is 1:500 and there are no commissions. Currencies that can be used include Japanese yen, Russian ruble, EUR, and US dollar.

Basic ECN account – the minimum amount to open this account is $200, and the minimum lot is 0.01. Spreads are as low as 0 and there is leverage of 1:500 available. Commissions are 5 units of the base currency for each 1 lot. Multiple currencies are supported, including Bitcoin, Australian dollar, Japanese yen, US dollar, euro, and Russian ruble.

Advanced ECN account – the minimum required amount to open this account is $1000. The minimum lot is 0.01, and spreads are as low as 0. Leverage is 1:500, the commission is 2.5 units of base currency for each 1 lot. The same currencies as the basic ECN account are accepted.

Premium ECN account – the premium ECN account requires a minimum of $25,000 deposit. The minimum lot is 0.01, and the spread is as low as 0. Leverage is limited to 1:200, and the commission is 1.8 units of the base currency per 1 lot. The same currencies as the basic and advanced ECN accounts are accepted.

The Crypto account – the crypto account requires a minimum deposit of $10. The minimum lot is 0.01, and the spread depends on the liquidity in the market. Leverage is low with crypto currency, at 1:3. Commissions are 0.5% of trade volume in the base currency. The currencies that are accepted with the crypto account include LTC, MBT, USD, RUB, and EUR.

Clients can also open demo accounts with any of the aforementioned account types. It should be noted that there are maintenance fees on dormant accounts of $10 per month, and a reactivation fee of $50 will be imposed.

Trading Platform/ software

The Meta Trader 4 trading platform is used by Forex EE for its trading activities. This is the most widely used forex trading platform in the world. Although MT4 was first released in 2005, it has seen major improvements in the years that have subsequently passed. MetaTrader 4 also supports the use of EAs (Expert Advisors), which are capable of assessing trading behavior and supporting customers in increasing their profits via trading. The MQL4 programming language is used by EAs on the MT4 platform. Among the numerous advantages of the Forex EE trading platform are powerful charting capabilities with a complete variety of technical analysis tools, rapid click trading, charts/graphs, and other technical indicators, among others.

MetaTrader 4 now supports complete mobile trading capability on both Android and iOS smartphones, according to the company. It is entirely compatible with all operating systems, including Linux, PC, and Mac. On the MT4 platform, traders have access to a comprehensive set of trading tools, including One Click Trading Level 2, Margin and Pip Value Calculators, Currency Exchange Rates, and Commission Calculators. Customers of Forex EE may also check out signals for free. Either an ECN account or a STP account may be readily linked to the signal suppliers' accounts. Traders will benefit from the narrow spreads, cheap fees, and minimal transaction costs that are offered by the trading platform.

Deposit options

Forex EE provides its customers with a comprehensive selection of deposit alternatives. Credit cards (Visa and MasterCard), wire transfers, electronic payment solutions (Skrill, Web Money, NETELLER, Perfect Money, Visa Qiwi Wallet, fasapay, Bitcoin, Bitcoin Cash, Litecoin, Ethereum), and internal transfers are all examples of acceptable payment methods. The USD, EUR, JPY, CNY, AUD, and IDR are some of the most often used currencies that are supported. When making credit card deposits, there are no charges charged; nevertheless, there are fees and commissions charged when making some electronic payments.

Markets

Forex EE offers a range of forex pairs for traders in demo mode and real money mode. Popular pairs include EUR/USD, AUD/USD, EUR/JPY, USD/JPY, GBP/USD, GBP/EUR, GBP/JPY and others. Cryptocurrency pairs are also available such as BTC/USD.

Bonuses

At the time of writing, Forex EE was offering a new welcome bonus of $15 for STP (straight through processing) accounts. Traders are required to register for an STP account and then contact the customer support team via their personal account manager. This promotional offer became active on September 1, 2015.

Customer Support

Forex EE offers a range of customer support options, including customer support emails, telephone number, a physical address, FAQs and live chat. Each of these options is briefly discussed below:

Telephone Number – +44-203-519-82494 general questions between the hours of 7 AM and 4 PM GMT, Monday through Friday.

Customer support email – [email protected] or [email protected], or [email protected]

Physical Address –

Live chat functionality – live chat is powered by Jivochat. Customer service representatives are standing by to assist with technical, trading, registration, and account-related information. This is the quickest way to get in touch with a professional support representative when they are available.

Safety

Safety and security is always an important feature of Forex trading brokerages. Unfortunately, we were not able to find any regulatory authorities sanctioning this forex trading broker. It is registered in Estonia with the Ministry of Economic Affairs however there is scant evidence to suggest that it is authorised to offer investment services. The authority tasked with this is the Estonian Financial Supervisory Authority (EFSA), and this very body purportedly cautioned against the company which owns Forex EE.

Ease of Use

Forex EE does a fine job of simplifying trading activity. Different account types are tailored to different types of traders, and these are neatly displayed on site. Further, clients can enjoy 1-click functionality on the prestigious MT4 (MetaTrader 4) platform on PC, Mac, Linux, Android or iOS devices. This trading brokerage is geared towards casual traders and institutional traders, and features a wide range of technical and fundamental analysis, tools and other elements.

Final Thoughts

Forex EE offers an adequate selection of major pairs, minor pairs, and exotic currency pairs. It also features several commodities and cryptocurrencies. There are many plus points to consider, notably the inclusion of a Demo Trading platform and many different account types for traders. The most concerning issue is the lack of regulation on site.