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FOREXer is a forex broker located in Malaysia, regulated by the Labuan Financial Services Authority (LFSA).
FOREXer accepts clients from all over the world, excluding USA, Iran, Syria, Sudan, North Korea and most other FATF blacklisted countries.
Forex broker offers the following underlying assets for trading.
| 10+ Currency Pairs | Based on major and minor world currencies. |
| 9 Crypto Pair | Based on Bitcoin, Ethereum, Dogecoin, Binance Coin, Cardano, Ripple, PolkaDot, Solana, Fantom. |
| 2 Metal CFDs | Based on Gold and Silver. |
| 2 Energy CFDs | Based on Crude Oil (WTI) and Natural Gas. |
FOREXer is a broker registered in the offshore jurisdiction of Labuan, Malaysia, and with an additional office in Dubai. The broker has been operating since 2004, making it one of the true veterans of the forex broker industry.
One thing that stands out about FOREXer is the rather high minimum deposit that is required to start trading. At the time of writing, the minimum deposit stood at $1,000, far more than the $10 to $100 that is usually required by other forex brokers. It is unknown why FOREXer has chosen to have such a high minimum deposit rule, but we can only guess that it is an attempt to bring in a smaller number of high-quality traders rather than a large number of traders with tiny trading accounts.
Another thing that could be interesting for some users is FOREXer’s personal trading mentor program. This is an opportunity for new traders to learn more about the space from experienced traders, and also an opportunity for experienced traders to earn a side income as mentors. This is something that is not offered by many forex brokers, and all users are free to apply to become mentors through the website at no cost.
Notably, the broker only offers only one type of real trading account, called the Standard Trading Account. The account offers tight floating spreads on all trading assets, commission-free trading, and leverage of up to 1:500 on traditional assets (1:20 on cryptocurrencies).
Trading accounts with FOREXer can be opened and denominated in US dollars, euros, British pounds, UAE dirham, and even gold through a gold-backed cryptocurrency called EAU.
The accounts can be funded with bank transfer, credit & debit cards including China UnionPay, and the e-wallet Sticpay. Despite being registered offshore, funding with cryptocurrency is currently not accepted.
In terms of instruments available for trading, FOREXer undeniably has a much smaller selection than most other forex brokers we have reviewed here on FX-List. The broker supports only around 12 forex pairs, 9 crypto pairs, and the four commonly traded commodities oil, natural gas, gold and silver.
What this means is that single stocks are completely missing from the list of tradable assets, as are stock indices, bonds, and many other popular asset classes. This makes the broker unsuitable for stock traders, although it could still be a good option for those who mainly just trade major forex or crypto pairs.
All trading with FOREXer happens on the MetaTrader 5 (MT5) platform, which the broker’s website refers to as “FOREXer5.” As usual, the platform is available in its standard Windows-based downloadable version, as well as in versions for web and mobile devices.
To reach FOREXer’s support team, clients can call, use the messaging apps WhatsApp or Telegram, send an email, or use the live chat function directly from the broker’s website. The broker promises that its support team is available to answer questions 24/7.
In conclusion, we want to stress again that FOREXer is one of the true veterans of the brokerage industry, having been around all the time since 2004. This gives it credibility and a track record that few other brokers have. However, we still wish the broker would make more trading assets available for its users, and believe this would make FOREXer a much more attractive option for a larger number of traders.
