Forexite

1.5

Rating

1.5/5

Cons

  • No MT4
  • Low leverage
  • Wide spread

Trading Account and Terms

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Standard $1 0.01 lot 1:100 4 pips

Forexite has just one form of trading accounts, which we called “Standard” for advantage. There’s also a free demo accounts with virtual 1000 for analyzing purposes.

The broker provides trading at major, minor and many exotic forex trading currencies. The minimum expected deposit is recorded as $1, however the broker states that the”recommended minimum deposit” is 500.

The Company – Security of Funds

Company Country Regulation
Forexite Ltd. Belize IFSC

The Forexite broker features a business address within the overseas zone Belize and can be governed by Belize’s International Financial Services Commission (IFSC). The trading speech, however, is based on the British Virgin Islands.

This program has low conditions and will not work much of oversight over its own charges and also this also makes Belize a well known destination for both forex brokers. Though IFSC is marginally better compared to the authorities at several other popular forex broker abroad zones or no law in any way, it’s maybe not the most dependable and respectable watch dog.

Because of this we suggest that you opt for a broker with very good law just like the one given by UK’s FCA or perhaps the Australian ASIC.

Trading programs

Forexite seemingly possess a proprietary stage named TradeRoom, that will be web-based. It’s perhaps not really intuitive to use and contains extensive tutorials that demonstrably need to be read attentively. The platform has a number of the simplest options and options that come with popular and major trading platforms such as MetaTrader, however, is attractive, nor simple touse.

A feature we find quite strange, is a customer can log in to their accounts together with their societal websites profile.

Methods of payment

The broker takes payments with credit and debit cards and also the internet payment approaches Skrill, Yandex and also Paxum.

Conclusion

Inspired by the speech options on its own website, Forexite is targeting Russian-speaking customers. The broker’s site and stage, nevertheless, are quite unattractive and appear excessively obsolete. It sounds Forexite continues to be busy, which people find quite unexpected, considering the great number of forex brokers busy on the Russian markets — lots properly licensed by the Bank of Russia as well as a lot more appealing advantage portfolios, trading requirements and trading strategies.