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No Regulation
Score
1.16 /10
Danger
Forbex
1-2 yearsSuspicious Regulatory License
Suspicious Scope of Business
High potential risk
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Comparison
Expose
Exposure
Open Account
Website
Score
Regulatory Index0.00
Business Index4.33
Risk Management Index0.00
Software Index4.00
License Index0.00
Open Account
Website
Licenses
No valid regulatory information, please be aware of the risk
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
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Warning: Low score, please stay away!
Previous Detection :
2024-12-26
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
| Forbex Review Summary | |
| Founded | 2023 |
| Registered Country/Region | United Arab Emirates |
| Regulation | No Regulation |
| Market Instruments | 30+ CRYPTO PAIRS, 50+ STOCKS, 70+ CURRENCY PAIRS, COMMODITIES, 15+ INDICES |
| Demo Account | ✅ |
| Leverage | / |
| Spread | From 1.0 pips (Standard account) |
| Trading Platform | MetaTrader 5 (MT5) |
| Min Deposit | / |
| Customer Support | Service time: 24/7 |
| Contact form | |
| Phone: (+096) 302 443 7488 | |
| Email: info@forbexfx.com | |
| Address: 67VC+M4G / Al – Riyadh St / Dubai | |
Forbex is an unregulated broker based in the United Arab Emirates. It provides trading on more than 30 CRYPTO PAIRS, 50 STOCKS, 70 CURRENCY PAIRS, COMMODITIES, and 15 INDICES. Moreover, the platform uses the inndustry-leading MetaTrader 5 (MT5) trading system.
Pros and Cons
| Pros | Cons |
| Demo accounts available | No regulation |
| A wide range of trading products | Lack of specific info on leverage and minimum deposit |
| MT5 platform | |
| 24/7 support |
Is Forbex Legit?
At present, Forbex lacks valid regulation. Its domain was registered on July 24, 2023, and the current status is “client Transfer Prohibited”. Please pay high attention to the safety of your funds if you decide to choose this broker. Our suggestion is looking for a regulated one.
What Can I Trade on Forbex?
On Forbex, you can trade with more than 30 CRYPTO PAIRS, 50 STOCKS, 70 CURRENCY PAIRS, COMMODITIES, and 15 INDICES.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Stocks | ✔ |
| Cryptocurrencies | ✔ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Account Type
Forbex offers two main account types: Standard and Gold.It also provides demo accounts option.
Spread and Commission
The Standard Account offers spreads starting from 1.0 pips with no commission per lot. The Gold Account offers spreads starting from 0.0 pips, also with no commission per lot.
| Account Type | Standard | Gold |
| Spread | From 1.0 pips | From 0.0 pips |
| Commission | ❌ | ❌ |
Trading Platform
Forbex offers MetaTrader 5 (MT5) platform for trading. The MT5 is on its way to becoming one of the most extensively utilized platforms within the industry. It integrates all the crucial features that the MT4 has been renowned for over the years. Additionally, it comes with some extra features and an optimized environment for EA trading.
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