ForexBY
Abstract：Founded in 2005, ForexBY is a Belarus broker regulated by the NBRB. Customers can trade forex, indices, securities, precious metals, oil, and cryptocurrencies on the MT4 platform. From the transaction information, it is possible to find that the leverage is up to 1:200 and the minimum deposit is $500. Apart from that, ForexBY does not provide services for residents from certain areas.
| ForexBY Review Summary | |
| Founded | 2005 |
| Registered Country/Region | Belarus |
| Regulation | NBRB |
| Market Instruments | Forex, Indices, Securities, Precious Metals, Oil, Cryptocurrencies |
| Demo Account | ❌ |
| Leverage | Up to 1:200 |
| Spread | From 0 pips |
| Trading Platform | MT4 |
| Minimum Deposit | $500 |
| Customer Support | Live chat, contact form |
| Email: info@forexby.com | |
| Tel: +375 29 757 70 70, +375 29 687 70 70 (Belarus) | |
| Tel: +7 (960) 130 37 24 (Russia) | |
| Social Media: Telegram, Facebook, X | |
| Regional Restriction | USA, Israel, Canada, Puerto Rico, Japan, North Korea, Iran, Ireland |
Founded in 2005, ForexBY is a Belarus broker regulated by the NBRB. Customers can trade forex, indices, securities, precious metals, oil, and cryptocurrencies on the MT4 platform. From the transaction information, it is possible to find that the leverage is up to 1:200 and the minimum deposit is $500. Apart from that, ForexBY does not provide services for residents from certain areas.
Pros and Cons
| Pros | Cons |
| NBRB regulated | No demo account |
| Various trading products | High minimum deposit |
| Multiple contact channels | Regional restriction |
| Four account types | |
| MT4 support |
Is ForexBY Legit?
| Regulated Authority | National Bank of the Republic of Belarus (NBRB) |
| Current Status | Regulated |
| Regulated Country | Belarus |
| Regulated Entity | MFEE Limited Liability Company |
| License Type | Retail Forex License |
| License No. | 192530878 |
What Can I Trade on ForexBY?
| Tradable Instruments | Supported |
| Forex | ✔ |
| Indices | ✔ |
| Securities | ✔ |
| Precious Metals | ✔ |
| Oil | ✔ |
| Cryptocurrencies | ✔ |
| Bonds | ❌ |
| ETFs | ❌ |
Account Type
| Account | Minimum amount | Minimum Lot | Maximum Lot |
| Standard | 500$ | 0.01 | 100 |
| Pro | 1000$ | 0.01 | 100 |
| Premium | 10000$ | 0.01 | 100 |
| Platinum | 50000$ | 0.01 | 100 |
Leverage
| Account | Minimum Leverage | Maximum Leverage |
|---|---|---|
| Standard | 1:3 | 1:200 |
| Pro | 1:3 | 1:200 |
| Premium | 1:3 | 1:200 |
| Platinum | 1:3 | 1:200 |
ForexBY Fees
| Account | Spread | Commission | Inactive Account Fee |
| Standard | floating from 0.9 pips | No | 25$ |
| Pro | floating from 0 pips | Foreign currency $9 for 1 lot, CFD from 0.02% | 25$ |
| Premium | floating from 0 pips | Foreign currency $9 for 1 lot, CFD from 0.01% | 25$ |
| Platinum | floating from 0 pips | Foreign currency $9 for 1 lot, CFD from 0.008% | 25$ |
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MT4 | ✔ | PC, web, mobile | Beginners |
| MT5 | ❌ | / | Experienced traders |
Deposit and Withdrawal
The investor's first deposit is a minimum of $500 and subsequent deposits are not less than $10.
| Minimum Transfer | Maximum Transfer | Deposit fee | Enrollment Deadlines | Withdrawal fee | Deadlines for Receipt | |
| Bank cards(VISA, MasterCard) | $10 | $5000 | 0 % | instantly | 0 % | 3 days to 10 days |
| Cash replenishment at the bank's cash desk | $10 | Unlimited | 0 % | 3 hours to 3 days | / | / |
| Bank transfer in foreign currency | $10 | Unlimited | Bank commission | 1 to 5 days | Bank commission | from 30 minutes to 5 days |
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