FOREXBIT Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-11-27 17:06

Abstract：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.

　　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
Customer Support	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.