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Forexware -

Score

1.53 /10
Danger

Forexware

United States

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://forexware.com/en

Influence

C

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Comparison

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Exposure

Time Machine
Website

Score

Regulatory Index0.00

Business Index7.17

Risk Management Index0.00

Software Index4.00

License Index0.00

Time Machine
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

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40G

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Warning: Low score, please stay away!
Previous Detection : 2025-01-24
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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Forexware · Company summary

Currently, the official website of Forexware is unable to open.

Forexware Review Summary
Founded Year2020
Company NameForexware
Registered Country/RegionUnited States
RegulationNot regulated
Market InstrumentsFX, Metals, CFDs
Demo AccountAvailable
LeverageUp to 1:500
SpreadFrom 0.0 pips
Trading PlatformXW Trader, XW Trader Mobile, MT4/5
Min Deposit$10
Customer SupportPhone: (1) 212-437-8100
Online Chat: Available
Email: Not mentioned

Forexware Information

Founded 2020 in the United States, Forexware is a trading tool providing FX, metals, and CFDs. Forexware suits traders of all stripes with leverage up to 1:500, spreads from 0.0 pips, and several account kinds. Still, it runs free from governmental supervision.

Forexware Information

Pros and Cons

ProsCons
Competitive spreads starting from 0.0 pipsUnregulated
Offers multiple account types, including Islamic accountsHigher minimum deposits for Pro accounts($1000)
Diverse trading platforms: XW Trader, MT4/5

Is Forexware Legit?

Forexware is not regulated by any financial authority.

Forexware Information

What Can I Trade on Forexware?

Forexware provides over 46 currency pairs, metals, and CFDs.

Tradable InstrumentsSupported
FX✔
Metals✔
CFDs✔
Stocks❌
ETFs❌
Cryptocurrencies❌

Account Types

Forexware offers 4 account types. All accounts include demo options.

AttributeStandard AccountCent AccountPro AccountIslamic Account
Leverage1:5001:1001:1001:500
Spread0.0 pips0.1 pips0.0 pips0.0 pips
Commission$0.02 per lot$0.002 per lot$0.05 per lot$0.02 per lot
Min Deposit$100$10$1,000$100
Demo AccountYesYesYesYes

Forexware Fees

Forexware offers spreads starting from 0.0 pips and low commissions.

Non-trading fees, such as deposits and withdrawals, are generally free.

Fee TypeDetails
SpreadsFrom 0.0 pips
Commission$0.002 - $0.05 per lot
Deposit FeeFree
Withdrawal FeeFree
Min Deposit$10 (Cent Account)
Processing TimeInstant to 7 business days

Trading Platform

Forexware provides popular MT4/5 platform, and XW Trader platform.

Trading PlatformSupportedAvailable DevicesSuitable for
XW Trader✔DesktopInstitutional and advanced traders
XW Trader Mobile✔Mobile (iOS, Android)On-the-go traders
MT4/5✔Desktop, MobileNovice and experienced traders

Deposit and Withdrawal

Forexware supports multiple deposit and withdrawal methods with no fees. The minimum deposit is $10.

MethodMin DepositFeesProcessing Time
Credit/Debit Cards$10 - $1,000FreeInstant to 5 days
Bank Transfers$10 - $1,000FreeUp to 7 business days
E-Wallets (PayPal, etc.)$10 - $1,000FreeInstant

User Reviews

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User comment

4

Comments

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FX1662858463
more than one year
Scammers they took my money and did not want it refunded I had to contact for help getting a refund via my profile photo
Scammers they took my money and did not want it refunded I had to contact for help getting a refund via my profile photo
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2024-04-08 10:22
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久伴旅人M
more than one year
This company provides services to foreign exchange companies and has nothing to do with us ordinary traders. If you're like me, don't waste your time clicking their website.
This company provides services to foreign exchange companies and has nothing to do with us ordinary traders. If you're like me, don't waste your time clicking their website.
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2023-02-22 10:42
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