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Forex.ee review and ratings

Established 1998
Location Saint Vincent and the Grenadines
Regulation None
Offices Kingstown
Broker type STP | ECN
Leverage up to 1:500
Deposit from 50 USD
Spreads low  low
Platforms Web MetaTrader 4
Instruments Currencies Crypto Metals
Funding methods Wire Transfer Credit Cards Skrill Neteller FasaPay WebMoney Perfect Money Qiwi Bitcoin Bitсoin Cash Ethereum Liteсoin

Company information

Forex.ee is a legally registered forex broker located in Saint Vincent and the Grenadines, but not regulated by any government agency.

Availability

Forex.ee accepts clients from all over the world, excluding USA and some OFAC sanctioned countries.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

50+ Currency Pairs Based on major and minor world currencies.
40+ Crypto Pairs Based on Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Dash, Emercoin, Namecoin, Peercoin, Ripple, Monero, EOS, IOTA, NEO, OMNI, EOS.
2 Metal Spot CFDs Based on Gold and Silver.

Comprehensive review

Forex.ee is an unregulated forex & CFD brokerage company operating out of the traditional offshore country Saint Vincent and the Grenadines. Unlike some other offshore-based forex brokers that are not regulated by government agencies, Forex.ee have not joined any independent regulatory organizations either. As a result, it is important to be aware that options for individual traders are quite limited in the event of a dispute with this broker.

However, it should also be pointed out that trading with an unregulated forex broker can come with certain benefits. Among these are a very simple sign-up and verification process for new clients and generally high trading leverage. In the case of Forex.ee, leverage can go as high as 1:500 on the most liquid trading instruments, which is far higher than what is available from brokers based in the EU or North America.

The trading instruments that are available from Forex.ee includes over 50 major and minor FX pairs, as well as CFDs based on the spot price of the popular precious metals gold & silver.

Interesting about this broker, however, is that is also offers an almost unmatched selection of cryptocurrencies for trading. Not only does this include a large number of different cryptos that are not normally available from forex brokers, but it also offers crypto trading against many traditional fiat currencies. Among these are cryptos like Bitcoin, Litecoin and Ethereum that can be traded against the US dollar, Russian ruble, euro, Japanese yen, Chinese offshore yuan, and the Great British pound.

The fact that these cryptocurrencies are offered against so many fiat currencies makes Forex.ee a particularly interesting broker for traders based outside of the US and Eurozone. With Forex.ee, some of these traders can now get a pure exposure to various cryptocurrencies using their own home currencies.

Note, however, that leverage on crypto trading is limited to 1:3 with Forex.ee. This is inline with what most other CFD brokers offer, but less than what is available from exchanges and brokers that offer trading in cryptocurrency futures contracts.

In terms of trading platforms, Forex.ee has chosen to go down the traditional path of sticking with the MetaTrader 4 (MT4). Released in 2005, MT4 is still probably the world’s most popular platform among retail forex traders, and it continues to be popular despite the introduction of the newer MT5 in 2010. One major reason for this is the vast selection of trading algorithms (Expert Advisors) that exist for the platform, and that Forex.ee’s clients thus get to use.

Like most other brokers, Forex.ee offers its clients a range of different trading accounts to choose from:

Among these, the Premium ECN account is the best option for those who can afford it. With a minimum deposit requirement of USD 25,000, this account requires a pretty big commitment from traders. On the other hand, however, it also offers trading with spreads of 0 pips and small commissions of just USD 1.8 per lot traded.

Perhaps more suitable for most average traders, however, is the Advanced ECN account. This account requires a minimum deposit of just USD 1,000, while still offering extremely tight spreads starting from 0 pips and commissions of USD 2.5 per lot.

The funding methods that are accepted by Forex.ee includes credit and debit cards like Visa and MasterCard, which are accepted free of charge by the broker. In addition, e-wallet platforms like Netellers, WebMoney, and PerfectMoney are accepted with a fee that ranges from 0.5% to 4%.

Lastly, Forex.ee also accepts a number of cryptocurrencies as deposits completely free of charge. At the time of this review, these cryptocurrencies include Bitcoin, Bitcoin Cash, Litecoin, and Ethereum.

On a final note, we would like to point out that although Forex.ee is a completely unregulated forex & CFD broker, it does have some clear benefits for crypto traders in particular. These traders can enjoy access to a large number of crypto to fiat pairs, all with a leverage of 1:3. Taking into consideration that the broker also accepts crypto deposits free of charge, we believe Forex.ee is an interesting broker to consider for many of the crypto fans out there.

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