ForexEE Quick reference
The company positions itself as an ECN broker operating in the market since 2014. It is managed by NTS Systems Ltd, registered in the island state of Saint Vincent and the Grenadines. Licenses from any regulator are not published.
The company described them in sufficient detail, not forgetting to emphasize the main advantages of each option.
- There are three options for ECN accounts with low spreads and the ability to trade with high volatility.
- STP accounts are without commissions and with an available deposit level of $ 50 or more.
- Crypto accounts are for trading in currency pairs, which include cryptocurrency.
For all options except cryptocurrencies, it is possible to open an Islamic account. It is more convenient to get acquainted with other details with the help of the comparative table on the site.
There are demo accounts but with nuances. Forex EE warns that:
- quotations of demo and real accounts differ due to the set of liquidity providers: they do not attract trusted suppliers to the training versions, only the new ones are tested there;
- the opening of orders affects the size of the spread in the demo version.
The broker also offers PAMM accounts.
The broker offers the only option: the most common MetaTrader 4. This is a classic and reliable software solution, released to the market back in 2005. Companies often recommend a choice of two software products: MT 4 and MT 5, but ForexEE offers to limit yourself only to the older version.
Another technical solution offered by the broker is One Click Trading Level 2. This is a plugin that literally helps to place orders in one click, to create pending orders and adjust the Stop Loss level and the volume of transactions.
Replenishment and withdrawal
You can enter money in various ways: from bank transfer and electronic wallets to cryptocurrency. Transferring money to a trading account through Skrill, Neteller, WebMoney, UnionPay and some other systems requires a commission payment of 0.8 to 3%.
There are only a little fewer withdrawal methods; a high variety of choices remains available. But this broker has no withdrawal without commission at all. This is a rare and not very pleasant variant, but at least ForexEE does not try to hide how much it intends to charge, and has prepared conveniently structured reference information for choosing options of replenishment and withdrawal of funds.
Conclusion about ForexEE
The site is quite smart and informative and the broker's offers are diverse. However, the lack of a license from regulator and registration in an offshore island require caution of traders.