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ForexBY

Belarus|2-5 years|
Retail Forex License|Suspicious Scope of Business|Medium potential risk|

https://forexby.com/

Website

Rating Index

Influence

Influence

C

Influence index NO.1

Belarus 3.44

Surpassed 61.10% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+375 29 757-70-70
info@forexby.com
https://forexby.com/
Общество с ограниченной ответственностью «ЭМФИ» (ООО «ЭМФИ») Республика Беларусь, г. Минск, ул. Фабрициуса, д. 8Б, корп. 1, пом. 5. УНП 192530878.

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No restriction on the broker account. Support service provided by WikiFX

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Contact number

English

+375 29 757-70-70

English

+7 960 130 37 24

English

+380 094 710 09 91

Other ways of contact

Broker Information

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Company Name

ForexBY

Abbreviation

ForexBY

Platform registered country and region

Belarus

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ForexBY · Company Summary

ForexBY Review Summary
Founded2005
Registered Country/RegionBelarus
RegulationNBRB
Market InstrumentsForex, stock indices, precious metals & oil, cryptos, and securities
Demo Account
LeverageUp to 1:200
SpreadFrom 0.9 pips (Standard account)
Trading PlatformMT4
Min Deposit$500
Customer Support24/7 live chat
Contact form
Mon-Fri. from 9:30-20:00 - Phone: +375 29 757 70 70 / +7 960 130 37 24
Email: info@forexby.com / finance@forexby.com

ForexBY, headquartered in Belarus and regulated by NBRB, offers all kinds of market instruments. It provides traders with access to a variety of account types and demo accounts available. With leverage ranging from 1:3 to 1:200 and access to the MT4, ForexBY offers traders good trading conditions. However, it does not provide services for the residents of USA, Israel, Canada, Puerto Rico, Japan, North Korea, Iran, and Ireland.

ForexBY's homepage

Pros and Cons

Pros Cons
Regulated by NBRBHigh minimum deposit
All kinds of tradable instrumentsCommission and inactive fees charged
MT4 availableRegional restrictions
Acceptable spreads

Is ForexBY Legit?

ForexBY operates under the regulatory oversight of the National Bank of the Republic of Belarus (NBRB), holding a Retail Forex License with License No. УНП 192530878. This regulatory framework ensures that ForexBY adheres to stringent standards and practices, safeguarding the interests of its clients and maintaining the integrity of the financial markets it operates within.

Regulated by NBRB

What Can I Trade on ForexBY?

ForexBy offers foreign currency, stock indices, precious metals & oil, cryptos, and securities. There's no ETFs trading or bonds trading. But overall, you still have a good mix of investment options.

Tradable Instruments Supported
Forex
Commodities
Indices
Cryptocurrencies
Shares
ETFs
Bonds
Mutual Funds

Account Type

ForexBY offers four kinds of live accounts- Standard, Pro, Premium and Platinum accounts with the minimum deposit of $5,00, $1,000, $10,000 and $50,000 respectively, higher than other regulated brokers. It also provides demo accounts.

Account TypeMinimum DepositSuitable for
Standard$500Beginners
Pro$1000Experienced
Premium$10,000High-capital
Platinum$50,000High-net-worth
Account comparison

Additionally, to open an account of ForexBY, you can enter your name, telephone number, and password. The procedures are simple and straightforward.

Account opening

Leverage

ForexBY provides extensive leverage options ranging from 1:3 to 1:200 for every trading account, offering traders a wide spectrum of leverage levels to suit their risk tolerance and trading strategies.

ForexBY Fees

ForexBY offers competitive spreads across its range of account types. Besides, it charges commissions and inactive account fees.

Account TypeSpread (Starting From)Forex Trading CommissionCFD Trading CommissionInactive Account Fee
Standard0.9 pips$25
Pro0 pips$9 per lot0.02%
Premium0 pips$7 per lot0.01%
Platinum0 pips$6 per lot0.008%

Trading Platform

ForexBY supports MT4. MT4 platform is characterized by innovative technologies, robust functionality, and a user-friendly interface, making investing simpler and more lucrative. The platform performs both technical and fundamental market analysis, suitable for all-level traders.

MT4

Deposit and Withdrawal

ForexBY offers bank cards such as Visa and Mastercard, wire transfers, and cash payments through its partnership with AccentPayCash. Clients can replenish their accounts in cash at designated bank branches, including BSB Bank CJSC, Belarusbank JSSB OJSC, and Alfa-Bank CJSC. The minimum amount of the first deposit of the investment account is 500 USD. All subsequent deposits from 10 USD.

More details of deposits and withdrawal are as follows:

MethodMin/MaxTranslatedDeposit FeeEnrollment DeadlinesWithdrawal FeeTerms of Receipt After Execution
Bank Cards$10/$5000Instant3 - 10 days
Replenishment in Cash at the Banks Cash Desk$10/No limit3 hours - 3 days//
Bank Transfer in Foreign Currency$10/No limitBank Commission1 - 5 daysBank Commission30 minutes - 5 days
Deposit and Withdrawal

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