ForexWare-Overview of Minimum Deposit, Spreads & Leverage
Abstract：ForexWare develops FX trading software and enterprise solutions to FX retail brokers, banks, financial institutions and money managers worldwide. ForexWare offers software solutions and technology for larger firms, institutions and small firms. ForexWare allows hedge funds and brokerage firms access to non-bank liquidity providers around the world.
Currently, the official website of Forexware is unable to open.
| Forexware Review Summary | |
| Founded Year | 2020 |
| Company Name | Forexware |
| Registered Country/Region | United States |
| Regulation | Not regulated |
| Market Instruments | FX, Metals, CFDs |
| Demo Account | Available |
| Leverage | Up to 1:500 |
| Spread | From 0.0 pips |
| Trading Platform | XW Trader, XW Trader Mobile, MT4/5 |
| Min Deposit | $10 |
| Customer Support | Phone: (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.
Pros and Cons
| Pros | Cons |
| Competitive spreads starting from 0.0 pips | Unregulated |
| Offers multiple account types, including Islamic accounts | Higher minimum deposits for Pro accounts($1000) |
| Diverse trading platforms: XW Trader, MT4/5 |
Is Forexware Legit?
Forexware is not regulated by any financial authority.
What Can I Trade on Forexware?
Forexware provides over 46 currency pairs, metals, and CFDs.
| Tradable Instruments | Supported |
| FX | ✔ |
| Metals | ✔ |
| CFDs | ✔ |
| Stocks | ❌ |
| ETFs | ❌ |
| Cryptocurrencies | ❌ |
Account Types
Forexware offers 4 account types. All accounts include demo options.
| Attribute | Standard Account | Cent Account | Pro Account | Islamic Account |
| Leverage | 1:500 | 1:100 | 1:100 | 1:500 |
| Spread | 0.0 pips | 0.1 pips | 0.0 pips | 0.0 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 Account | Yes | Yes | Yes | Yes |
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 Type | Details |
| Spreads | From 0.0 pips |
| Commission | $0.002 - $0.05 per lot |
| Deposit Fee | Free |
| Withdrawal Fee | Free |
| Min Deposit | $10 (Cent Account) |
| Processing Time | Instant to 7 business days |
Trading Platform
Forexware provides popular MT4/5 platform, and XW Trader platform.
| Trading Platform | Supported | Available Devices | Suitable for |
| XW Trader | ✔ | Desktop | Institutional and advanced traders |
| XW Trader Mobile | ✔ | Mobile (iOS, Android) | On-the-go traders |
| MT4/5 | ✔ | Desktop, Mobile | Novice and experienced traders |
Deposit and Withdrawal
Forexware supports multiple deposit and withdrawal methods with no fees. The minimum deposit is $10.
| Method | Min Deposit | Fees | Processing Time |
| Credit/Debit Cards | $10 - $1,000 | Free | Instant to 5 days |
| Bank Transfers | $10 - $1,000 | Free | Up to 7 business days |
| E-Wallets (PayPal, etc.) | $10 - $1,000 | Free | Instant |
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