ForexTB Review: Legit Broker or Just Another Scam?

Today, in this ForexTB review, we are looking at a broker that presents itself as “the premier platform for CFD trading.” The company emphasizes exceptional security of client funds, full regulatory compliance, and favorable trading conditions. It specifically highlights that it provides services within the European Economic Area (EEA). At first glance, everything looks very solid. However, experienced market participants know that behind bold promises, unpleasant surprises can sometimes lurk. Naturally, potential clients raise critical questions: how reliable are the company’s statements; do the actual conditions match what is advertised; and is the platform not just another scam project? Below are the detailed results of our investigation, where we sought to provide the most objective answers for interested users.

Does ForexTB Show Any Risk Factors?

In the footer of its website and in its official documents, the broker states that it operates under Forex TB Limited, registered in Cyprus under number HE310943, holding a license from the local financial regulator CySEC № 272/15. The company also claims that its operations fully comply with the MiFID II directive. We cannot take these statements at face value, as we have repeatedly encountered similar claims from scam platforms that fail verification.

As we can see, the Cyprus business registry indeed contains information about Forex TB Limited. The company was registered in August 2012, and the registration number matches what is listed on the broker’s website. Currently, the company remains active.

Thus, there is no reason to doubt that the broker operates within the framework of European legislation. Additional confirmation is provided by the inclusion of Forex TB Limited in the European Securities and Markets Authority (ESMA) list of firms operating under the MiFID directives.

The only point that seemed unusual to us was the discrepancy in dates. According to the registration data, the company was established in 2012, but the license was obtained only in 2015. This suggests that the company either did not provide professional services for almost three years, operated without a license, or perhaps relied on offshore regulatory documents. Interestingly, the official website information is just as unclear.

As we can see, the domain was registered in January 2012, even before the official formation of the company. This is quite normal when a broker anticipates obtaining registration documents and prepares its online presence in advance to start operations immediately. However, a detailed forextb.com review based on Web Archive data shows that neither in 2012, nor in 2013, nor in 2014 did the broker’s official website actually operate. The first full snapshot of the broker’s web resource appeared only in July 2015, after the CySEC license was obtained. Interestingly, the support email listed at that time belonged to the second broker, Patron FX, and was Polish.

It seems that the project owners opted for the path of least resistance: in 2015, they acquired a Cypriot company that had been registered back in 2012, along with its domain, and only after receiving the license did they start operations. In fact, the website practically states this openly, encouraging users to consider 2015 as the year the platform was created. Overall, so far, we have found nothing suggesting that the broker intended to mislead its current or potential clients.

Unfortunately, the situation looks much worse in ForexTB reviews. Over the years, the broker has accumulated a large number of user comments about its activities. For example, there are over 130 reviews on reviews.io and 178 on Trustpilot, and the picture is quite interesting.

The authors of the earliest posts on Trustpilot praise the platform almost without pause, accounting for 53% of all positive reviews on that portal. However, the picture becomes more concerning over time. Notably, 49% of users claim that the company operates dishonestly and openly label it as a scam. The main complaint is the appalling treatment by the support staff. Everything they do seems aimed at attracting increasingly large deposits and creating conditions in which traders lose all their invested funds.

The situation on reviews.io is even grimmer. Only 6% of authors are satisfied with the broker’s performance, while the rest express strongly negative opinions. Interestingly, even on specialized trading and investment portals, ForexTB’s legitimate European license has not helped it earn high marks. For example, on WikiFX, the company’s trust score is slightly above average (5.81 out of 10), and users are warned to exercise caution when dealing with it.

Such a negative situation with reviews could not have arisen out of nowhere. Clearly, the project owners decided that they had spent enough time building a reputation and it was time to exploit it. Unfortunately, the use of dishonest methods to increase the broker’s profits almost completely destroys the positive impression formed from analyzing official data.

Let’s Break Down the Jurisdiction

Cyprus has traditionally been considered an attractive jurisdiction for forex brokers due to its EU membership, low taxation, and access to European markets. However, in 2025, regulatory requirements were significantly tightened, and investment firms now have to comply with the same standards that apply to banks and banking groups. Overall, obtaining licenses for brokerage or dealing activities has become more complex, but this has only partially reduced risks for traders:

• For retail market participants, leverage is limited depending on the asset type and cannot exceed 1:30, while professional traders face no such restrictions. As a result, brokers often set leverage as high as 1:400–1:500, which can lead to capital losses even for experienced traders within just one or two trades.
• CySEC requires that client funds be held in segregated accounts to which the broker does not have access. In case of problems with the trading organizer, bankruptcy or fraud proceedings can take a significant amount of time. During this period, the user does not lose funds but loses access to them until a court decision is made.
• All brokers must participate in a compensation fund, but the payout amount for clients is limited to €20,000. For most traders, this fully covers deposit losses, but some participants may be unable to recover larger sums.

It is worth noting that the stricter regulatory oversight only began in 2025, as mentioned above. Prior to that, cases of CySEC licenses being granted to fraudulent operators were not uncommon, and trader losses in such companies reached millions of dollars.

Interestingly, ForexTB appears to operate almost without violating regulatory requirements (at least the company has not received a single fine in its ten years of existence), but this does not prevent it from employing tactics that result in traders’ deposits being drained. In practice, fraudulent schemes are being used here, but holding the broker accountable is extremely difficult.

What Does the Forextb.com Website Reveal?

The impression left by the broker’s official website is hard to call positive. It starts with the design: the color scheme is decent, but the text layout, the sparse use of images, and the poorly organized content make the pages look untidy. Perhaps the only real achievement of the developers is fast-loading optimization. However, it is likely due to the template creators rather than the company’s own specialists.

However, the website’s content raises even more questions. The developers appear to have applied their “skills” to create a site with, at best, questionable informational value. Here are just a few examples:

• The creators of the homepage lacked the imagination to provide a quality presentation of the broker. From our perspective, a first-time visitor would hardly be interested in ForexTB’s offerings. We even wondered what percentage of clients registered independently rather than being invited by company employees or other traders. We suspect it is quite low.
• A closer look at the CFD section makes it clear that the firm did not provide even extended descriptions of asset groups. Just a couple of sentences per group, complete neglect of the list of trading instruments, and no contract specifications — this is hardly what traders would expect from a regulated European broker.
• The materials in the Education section are difficult to call “educational.” It seems the company believes that a few sentences on technical or fundamental analysis are sufficient for a trader to understand the concepts. Similarly, the brief explanations of margin trading and margin itself are far from enough to convey the benefits and risks. In short, this section only simulates the company’s intent to help its potential and current clients. In reality, its absence would make no difference. This is further confirmed by the fact that the firm does not publish any news feed or analytics.
• Interestingly, almost all required disclosure information is provided as official documents in the Legals section, which is not easy to locate on the site. Overall, the firm does not violate regulatory requirements, yet most traders, especially beginners, simply cannot access the necessary information. Why the company did not add it to the main menu remains a mystery..

In short, the site is uninteresting, almost useless for traders (except for the Legal section), and poorly designed as an informational resource to attract clients. This work, in a style typical of scammers, effectively only signals the broker’s presence online. It seems users are invited by other means, sometimes even illegal ones.

This is also evident from the difficulties in self-registration. Residents of countries outside the EU or the European Economic Area (EEA) can hardly become clients: when submitting the registration form, they receive a message stating that users from these regions are not serviced. However, registering from Europe also failed: every attempt ended with the same error. A rather unexpected turn of events for European traders.

It is worth noting that this, along with numerous negative forextb.com reviews, raises serious doubts about the quality of services provided by the broker. It is possible that the regulator may also take notice of such practices and take the necessary measures.

Is the Broker Offering Fair or Risky Terms for Traders?

The broker intended to provide clients with detailed information about trading conditions, but ultimately chose not to publish contract specifications. As a result, users are left with only account type descriptions and information available in the documents under the Legal section.

We can see that the company adheres to leverage limits for retail investors, introduced back in 2018, and does not allow them to trade with leverage exceeding 1:30. At the same time, professional traders have access to higher-risk trading with leverage up to 1:400. These parameters apply to all account types.

There are four account types in total:

• Basic, with a minimum deposit of €250.
• Gold, with a starting deposit of €25,000.
• Platinum, requiring at least €100,000 to start.
• VIP, with deposits starting from €250,000.

However, the difference between them is not limited to the initial deposit amount. The platform also shows differences in spreads: ranging from 3.0 to 1.8 pips for the EUR/USD pair on the Basic and VIP accounts, respectively. The latter value is still acceptable, though at least twice as high as what most European-regulated brokers offer. But 3.0–3.4 pips is hard to describe as anything other than an attempt to push clients toward higher-tier accounts. At the next level (Gold), the required deposit jumps twenty-five times compared to Basic (€25,000 vs. €250), while the EUR/USD spread is reduced to 2.7 pips, which is still significant in terms of trading costs.

We again see the use of tactics typical of scammers on a regulated platform: offering slightly better trading conditions in exchange for a much larger deposit. Naturally, ForexTB’s profits increase accordingly, not only from spreads but also from traders’ losses on unprofitable trades.

Note: Other indicators that determine trading costs are not provided by the broker. Neither on the website nor in the documents is there complete information on trading and non-trading commissions or rollover fees. Under such circumstances, clients cannot accurately assess the profitability of working with the company.

It is worth noting that all other trade parameters are the same for all account types. For example, the maximum trade size for currency pairs is 30 standard lots, and Margin Call/Stop Out levels are 70%/50%, regardless of deposit size.

The project owners may refer clients to the demo version of the web terminal, which traders can access without registration. It contains full contract specifications for all trading instruments. This is likely the reason why such information is absent from the website and not provided as a separate document. However, the company does not guarantee that trading conditions in the demo version fully correspond to those on live accounts.

On the other hand, the broker guarantees clients’ participation in the CySEC Investor Compensation Fund (ICF). Traders facing problems with ForexTB can receive compensation of up to €20,000. This is a good option; however, as we can see, it is only sufficient to cover losses for traders on the Basic account. Compensation for other accounts will be only partial. Could this be the reason for such high entry thresholds on the higher-tier accounts?

Technical Support Analysis of ForexTB

To be honest, the broker provides very little contact information. On the “Contact Us” page, only a phone number and a support email address are listed. The office address, as mentioned earlier, can be found in the footer of the page and in official documents.

Unlike most regulated brokers operating in Europe, ForexTB does not offer:

• A contact form to submit inquiries to support via email.
• Online chat.
• Links to social media profiles.

The latter is rather unusual. Legitimately operating companies typically do not miss an opportunity to engage such a wide audience. However, it seems ForexTB is not interested in this.