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Forexee

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Forexee Review

  • Excellent trading platform
  • Great customer support
  • Competitive fees and commissions
  • Good reputation
  • Limited array of tradeable assets
  • Not licensed or regulated
  • Offshore trading brokerage
  • Lacking some key information

Forex.ee is a modern and dynamic online trading brokerage that provides traders from around the world with the opportunity to participate in the trading of a variety of global financial assets. Forex.ee prides themselves on their most favorable trading conditions, spotless reputation, and advanced trading technology. The Forex.ee trading brokerage is owned and operated by NetStock Ltd. and is based out of St. Vincent and the Grenadines with their headquarters located at NetStock Ltd., Cedar Hill Crest, Villa, Kingstown, St. Vincent and the Grenadines. Being located offshore, Forex.ee is free from any sort of regulation by reputable regulatory authorities. However, though Forex.ee is not licensed or regulated, the brokerage has a spotless reputation and has been successfully operating since 2004. Forex.ee is an international online trading brokerage and offers their services in 9 different languages to countries around the world, excluding the United States. Forex.ee appears to be a viable and reputable online trading brokerage, but are they right for you? Find out in our in-depth review where we break down all aspects of the Forex.ee online trading brokerage and discover if they are the right broker for you.

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Trading Platform

The trading platform featured by Forex.ee is one of the most popular trading platforms in the world, the MetaTrader 4 (MT4) platform. The MT4 trading platform is a highly capable trading platform that confidently accomodates the needs of both beginner and experienced traders and investors. The MT4 trading platform offered by Forex.ee can be downloaded on Mac, Windows, and Linux computer operating systems as well as on iOS and Android mobile devices from the Apple App Store and the Google Play Store. The Forex.ee MT4 trading platform features easy to use trading tools, advanced order books, and lightning fast execution speeds. As well, traders benefit from the advanced MT4 charting package that comes complete with a wide range of technical indicators, drawing and analysis tools, and all the time frames and chart types a trader needs. As well, traders have the option of one-click trading directly from the chart window for fast and seamless trading. Another highly advanced functionality of the MT4 platform is the use of Expert Advisors which provides the trader with the necessary data to increase profit and can be used for automated trading. Furthermore, the platform also integrate live price quotes and market news feeds so that traders are always on top of things and can make the most informed decisions in real time.

Exchange Markets

Forex.ee has a rather limited range of tradeable assets for their clients to trade in comparison with many other leading online trading brokerages. For instance, Forex.ee traders can only participate in the trading of forex currency pairs including a selection of majors, minors and exotics. As well, the brokerage recently introduced the ability to trade CFDs (contracts for difference) on various cryptocurrencies. Unfortunately, Forex.ee does not facilitate the trading of CFDs on other tradeable assets such as stocks, commodities, indices, metals, etc. All in all, the extent of tradeable financial assets available to traders is rather disappointing.

Fees and Commission

The fees and commissions imposed on traders at Forex.ee vary and are dependent on the type of trading account the trader chooses. Traders incur fees based on both the spread of the trade and a commission for each trade on the ECN accounts. The STP trading account is a zero commission account with variable spreads. See below, the spreads and commissions for each type of trading account.

STP

  • Variable spreads from 0.5 pips
  • Zero commissions

Basic ECN

  • Spreads from 0.4 pips
  • $5.00 per lot commissions

Advanced ECN

  • Spreads from 0.4 pips
  • $5.50 per lot commissions

Premium ECN

  • Spreads from 0.4 pips
  • $1.80 per lot commissions

Crypto

  • Spreads vary and depend on liquidity
  • 0.5% of trade volume in base currency

Security and Fairness

According to Forex.ee, the brokerage has a perfect track record with no conflicts of interest, absolute transparency, no trading restrictions, and no requotes or interventions since their establishment in 2004. While this may or may not be true, the bottom line is that Forex.ee is not a licensed or regulated online trading brokerage and therefore poses some risks to traders. However, upon researching their reputation and reading user review, Forex.ee does appear to be reputable with an overall good review score. However, we found it troubling that Forex.ee does not disclose any of the security measures they practice, they have no investor compensations scheme in place, and it’s uncertain whether customer accounts are kept segregated from their own. All in all, traders should proceed with caution if choosing Forex.ee.

Support

Forex.ee provides their customers with good customer support that’s very responsive, friendly, and informative. Customers can contact support via email, telephone, and live chat from Monday – Friday, 7am to 4pm GMT. Additional methods of support include a comprehensive help and FAQ page that provides answers to most questions a trader might have.

Conclusion

Overall, the Forex.ee online trading brokerage appears to be a reliable and competent ECN trading brokerage. The broker offers competitive spreads and commissions, an excellent trading platform, and great customer support. The only major downsides to Forex.ee are their lack of tradeable financial products and lack of regulation. Other than that, Forex.ee is a viable online trading brokerage that appeals to the needs of both beginner and experienced forex traders.

Forex.ee Q&A

The following are the common questions that customers inquired about Forex.ee.

Is Forex.ee regulated?

No, unfortunately Forex.ee is not regulated by any reputable regulatory authorities.

Is Forex.ee a scam?

No, Forex.ee is a legit broker with a good reputation and track record.

Where is Forex.ee based?

Forex.ee is based at NetStock Ltd., Cedar Hill Crest, Villa, Kingstown, St. Vincent and the Grenadines.

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