Forbex

Overview of Forbex

Forbex is a broker based in the United Arab Emirates, founded within the past year. Forbex provides access to a variety of trading instruments, including Forex, commodities, indices, and cryptocurrencies. The platform uses the MetaTrader 5 (MT5) trading system, which is well-regarded for its advanced charting tools, automated trading options, and user-friendly interface. Traders can benefit from competitive spreads, zero commissions, and a robust educational section through Forbex Academy.

However, the company's unregulated status and limited experience in the industry are significant considerations for potential users.

Regulatory Status

Forbex currently lacks valid regulatory information, meaning investors may face higher risks when using the platform, with no guarantees on fund safety and trading fairness.

Pros and Cons

Pons:

• Wide Range of Trading Instruments: Forbex offers a diverse selection of over 30 cryptocurrency pairs, 50+ stocks, 70+ currency pairs, and 15+ indices, allowing traders to explore various markets and diversify their portfolios.
• Trusted Trading Platform: Forbex provides access to the renowned MetaTrader trading system, which is trusted by traders worldwide for its reliability and comprehensive features. This platform offers advanced charting tools, automated trading options, and a user-friendly interface, making it suitable for traders of all levels.
• Cost Efficiency and Transparency: Forbex keeps trading costs low by maintaining minimal spread and swap fees, ensuring traders can maximize their profits. The platform also emphasizes transparent pricing, with quotes coming directly from established liquidity providers, ensuring speed and accuracy in trades.
• 24/7 Customer Support: Forbex offers round-the-clock customer service, with a dedicated team available via live chat, email, and phone to assist traders at any time. This ensures that users can get help whenever they need it, enhancing their overall trading experience.

Cons:

• Lack of Regulatory Oversight: Forbex does not have valid regulatory information.
• Limited Experience: Forbex has been established for less than a year, indicating limited experience and a lack of a proven track record in the industry, which may affect its reliability and the trust of potential users.


Market Instruments

Forbex offers a wide range of market instruments, including:

• Forex: With a daily trading volume of 6 trillion USD, the Forex market is the largest financial market in the world. Forbex allows trading with leverage, enabling traders to control large positions with a relatively small amount of capital.
• Commodities: Forbex provides access to various commodities such as gold, agricultural products, and energy derivatives like oil and natural gas. These instruments allow traders to capitalize on price movements in global markets.
• Indices: Forbex offers CFD trading on 11 major stock market indices, including the Dow Jones 30, Frankfurt DAX, and Japan Nikkei 225. This allows traders to invest in the overall performance of stock markets.
• Cryptocurrencies: Forbex supports trading in major cryptocurrencies like BTC, ETH, LTC, and XRP using the MetaTrader 5 platform. This offers high leverage, no minimum deposit requirement, and 24/5 live support.

Account Types

Forbex offers two main account types: Standard and Gold. Both accounts feature instant setup, access to the MetaTrader 5 platform, and availability on mobile apps. They support a wide range of instruments, including over 250 Forex pairs, metals, indices, and commodities, with zero commission per lot and a minimum trade size of 0.01 lot. The Standard Account, with spreads starting from 1.0 pips, is suitable for traders who prefer standard spreads and zero commission. In contrast, the Gold Account, with spreads starting from 0.0 pips, and includes access to over 20 cryptocurrencies, making it ideal for traders interested in crypto trading. Both account types support Expert Advisors (EAs).

Features	Standard Account	Gold Account
Setup	Instant	Instant
Platform	MT 5	MT 5
Spreads	From 1.0 pips	From 0.0 pips
Instruments	250+ Forex pairs, metals, indices, commodities	250+ Forex pairs, metals, indices, commodities; 20+ cryptocurrencies
Commission per Lot	Zero	Zero
Minimum Trade Size	0.01 Lot	0.01 Lot
Expert Advisors (EAs)	Yes	Yes
Mobile App	Yes	Yes



How to Open an Account？

• Visit the Website: Go to the official Forbex website.
• Select Account Type: Click on “Open Account” and choose between the Standard or Gold account.

• Fill Out the Registration Form: Provide your full name, email, and phone number.
• Verify Contact Information: Confirm your email and phone number through verification links or codes sent to you.
• Submit Required Documents: Upload identification documents for verification.
• Start Trading: Once verified, fund your account and start trading using the MetaTrader 5 platform.

Spreads & Commissions

Forbex offers competitive spreads and zero commissions across both their account types. The Standard Account features spreads starting from 1.0 pips with no commission per lot, making it suitable for traders who prefer straightforward, low-cost trading. The Gold Account offers even tighter spreads starting from 0.0 pips, also with no commission per lot. This structure allows traders to manage costs effectively while maximizing their trading opportunities.

Trading Platform

Forbex offers MetaTrader 5 (MT5). MT5 builds upon the success of its predecessor, MetaTrader 4, by providing advanced charting tools, support for automated trading through Expert Advisors, and the ability to trade multiple asset classes including forex, stocks, commodities, indices, and cryptocurrencies. It features detailed market depth, advanced order management options, and an integrated economic calendar for real-time market updates. MT5 is accessible via desktop, mobile, and web platforms, ensuring traders can manage their investments conveniently and effectively across different devices.



Customer Support

Forbex provides comprehensive customer support with a dedicated team accessible around the clock. The support team is available 24/7 via multiple contact channels.

• Contact Channels: Reachable via live chat, email (info@forbexfx.com), and phone (+096 302 443 7488).
• Physical Address: Office located at 67VC+M4G, Al – Riyadh St, Dubai.
• Online Contact Form: Simple form requiring full name, account type, phone number, and email for efficient communication.


Educational Resources

Forbex offers a comprehensive educational section called the Forbex Academy, providing traders with valuable resources to enhance their trading skills. Key topics include mastering stop loss strategies for indices, momentum trading tips, and trading chart patterns. Additionally, there are guides on price action trading, trading during market downturns, and the advantages of CFD trading. These resources are designed to help both beginners and experienced traders improve their knowledge and trading performance.



Conclusion

Forbex offers a diverse range of trading instruments, including Forex, commodities, indices, and cryptocurrencies, via the MetaTrader 5 platform with competitive spreads and zero commissions. It ensures cost-efficient trading, 24/7 customer support, and educational resources through the Forbex Academy.

However, it lacks valid regulatory oversight and has limited experience in the industry.

FAQs

What trading platforms does Forbex offer？

Forbex provides MetaTrader 5 (MT5).

What account types are available at Forbex？

Forbex offers Standard and Gold accounts.

What market instruments can I trade with Forbex？

Trade forex pairs, commodities, indices, and cryptocurrencies with Forbex.

Does Forbex charge commissions on trades？

No, Forbex does not charge commissions for Standard and Gold accounts.

What educational resources does Forbex provide？

Forbex Academy offers guides on stop loss strategies, momentum trading, chart patterns, and more.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.