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Editor Rating
- 5/5 – Excellent
- ForexBrokerInc review
- Website: forexbrokerinc
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Review Summary:
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For a company whose dealings operate on an international scale, it comes as no surprise that ForexBrokerInc.com is a worldwide brand. The company was incorporated in 2011 in the Marshall Islands while the payment processing is performed out of London, England.
Table of contents
The foreign exchange, or forex, market allows ambitious traders to take advantage in the fluctuations of the world’s currencies and commodities in order to build wealth. Many brokerage firms have risen to help apply their experience and knowledge to this expanding opportunity, and one of the rising stars is Forex Broker Inc.
About ForexBrokerInc.com
For a company whose dealings operate on an international scale, it comes as no surprise that ForexBrokerInc.com is a worldwide brand. The company was incorporated in 2011 in the Marshall Islands while the payment processing is performed out of London, England. Having employees and affiliates stationed in several time zones allows 24-hour service to be rendered 5 days a week, allowing traders to react immediately to any news or movement in the market.
Top Features of ForexBrokerInc
There are great minor perks to working with ForexBrokerInc. Video tutorials, free technical analysis and trading signals, forex calculators, market news, and an economic calendar help beginners find all that they need in one central location. One can even practice with a demo account until their skills and confidence inspires them to begin real trades backed with real currency.
While novice traders will appreciate the variety of services offered by this brokerage, experts may already be attuned to the forex market through other channels and will skip straight to the diverse array of platforms, tools, and promotions, allowing access to the trading of currencies, energies, precious metals, and more.
Trading Platforms
Fast reaction time is the main weapon in any forex trader’s arsenal. Using commonly supported and trusted trading platforms helps you fire off trades on new positions confidently without having to second guess the software. When using this company, you’ll enjoy the option of several platforms for the PC or Mac computer systems.
The real-time presentation of data and the ability to script macros for frequently used operations is a major boon of the Metatrader 4 platform. The features of the FB Webtrader platform, including multi-charting, historical activity journaling, and scripting thresholds will help and keep novice and developed traders alike during their daily governing and weekly review of their business.
To top things off, both the Metatrader 4 and FB Webtrader platforms feature mobile versions that support iPhones, iPads, and Android based phones and tablets. FB Webtrader even supports Blackberry. Mobile user interfaces can be different than their desktop alternatives, so ForexBrokerInc also provides Sirix Tablet, a trading platform designed specifically for mobile users.
No matter if you are home or on the go, you will have access to the platforms and trading tools you need to ensure success through speedy reaction.
Promotions
Forex Broker Inc keeps things interesting with their continually revolving set of promotions for new and veteran users. New sign-ups will appreciate the 100% Welcome Bonus promotions, which double your first deposits. Converting to a VIP account will gain you a 120% Welcome Bonus. Every deposit under $12,000 will be credited with a 15% Loyalty Bonus. Combine these bonuses with the leveraging options and your chance to skyrocket profits is busted wide open.
As you continue to stick with this firm, you’ll enjoy the holiday tournaments, regular rankings, exclusive limited time promotions, and short-term competitions. Keeping things fun, interesting, and competitive is part of what drives this company’s users to success. The low deposit threshold allows almost anyone to climb over this barrier to entry, as seen below.
ForexBrokerInc Prices
In the forex market, money is made by the brokerage on a per-trade basis in the form of a commission. This means that not only is there no sign-up fee, but the bonuses allow you to trade even more. The success of those trades is up to you and your choices, of course. There are varying tiers of accounts available to help restrict your risk or boost your reward based on your skill level.
Trading Accounts
For ease of understanding, there are two types of accounts: Gold and Platinum. Both Gold and Platinum offer ECN accounts whereas Platinum also allows a variable spread account, where there is no commission and the brokerage’s earnings come from a higher spread.
All three account types require a $10 minimum deposit, which is literally all you need to get your foot in the door. The Gold account requires a slightly higher commission of 1.5 pips over the 1 pip of the Platinum account, and it is highly restricted in the number of lots and units that can be held at any time. To make up for this, a higher leverage of 1:500 is allowed, but rookies using a Gold account may harm themselves with this hedging.
Criticism of ForexBrokerInc.com
The only complaint I’ve seen through my time with this brokerage is that of strictness. ForexBrokerInc.com will not yield to their rules and regulations, understandably so, yet some traders expect special treatment or become upset when their pleading is fruitless and scream the words “scam” and “fraud.”
The situation is that payments are expected to be made on time, leveraging is expected to be used responsibly, and consequences should be weathered easily. They can’t help every person who overextends himself into a bad position. Penalties can include losing some or all of the positions being held on the offending account and any deposits to help cover the account deficit.
Additionally, people have attempted to use several accounts to cheat the system and, for example, use the rolling promotions fives times at once. When caught, the bonuses are deducted along with winnings at times, depending on the severity of the offense. When excuses like, “But these were my family member’s accounts that I was managing for them,” and other lies are unsuccessful in manipulating the ForexBrokerInc staff, of course traders cry foul.
The only true criticism is that this firm is strict. They created rules and will employ them as necessary. This type of customer service is actually a positive in that it keeps most honest accounts safe. The payment services will never find themselves in a bind where they can’t fulfill the orders of honest accounts by chopping trouble users out at the roots.
Customer Support
An extremely commendable aspect of this company is their wonderful customer support. Live Support is offered 24-hours per day during the business week and can be reached by telephone or any number of specifically separated email accounts. Depending on the issue you’ve encountered, you have a direct line of access to the appropriate department and can expect an answer very soon.
Conclusion
I’d classify myself as a beginner to intermediate forex trader. And this is where ForexBrokerInc.com shines with their various trading tools to help you stay current on the happenings in the market. Their choice of which trading platforms to license offers choices for any type of preference, but any choice made will be user friendly on desktop, phone, or tablet.
The acceptable spreads and commissions are average and nothing to write home about. But when you begin taking part in the many promotions you realize that you’ve made financially advantageous choice to use this firm, if and only if you can make proper use of the promotions by succeeding in your trades.
The ease of use, high level of customer support, and low barrier to entry makes Forex Broker Inc a wonderful brokerage firm to begin your adventure into the forex market, and is an equally great opportunity for experts who want to focus on trading instead of system complexities and software issues.
