Exchange intermediary Forexite is considered one of the oldest brokers – it started its activity back in 1998. He considers his main advantages to be the vast experience and professionalism of his team, and also assures that he has an impeccable reputation and his own trading terminal.
Not all traders agree with these statements. Numerous negative reviews about Forexite recommend staying away from this office, and the review will have to figure out why.
Home page and range of services
Forexite’s official website does not provide any analytics, training materials section or news feed. Its design is not optimized for modern devices, not adapted for viewing from a phone; it is extremely outdated and inconvenient, which also speaks of the broker’s attitude towards clients.
The company’s clients also receive a limited set of trading instruments – only Forex and cryptocurrency pairs. For Forexite to work, the broker provides its own development called TradeRoom, and there is no reason to judge its reliability and functionality, since it is not popular.
What are the advantages of a broker
Although the intermediary’s site itself is extremely uninformative, Forexite pays a lot of attention to showing its worth. So, he points out the following advantages, which should motivate the user to open an account:
lack of bonuses, promotions and contests – the Forexite broker stands for fair Forex, and therefore does not offer any discounts or any rewards;
flexible and innovative trading conditions – the introduction of a minimum deposit of $ 1 and a trading platform in browsers is assigned to this ambitious intermediary by this ambitious intermediary;
official licensing and regulation – by the offshore IFSC, which is unable to protect the investors of the office;
a large selection of instruments – a total of as many as 75 instruments; such a meager set will obviously not hold the trader’s attention for a long time.
Trading conditions and withdrawals
Although the Forexite scam has been operating for 20 years and is trying in every way to attract new customers, it is unable to offer anything innovative and distinguishing from competitors. The trading account is the same for everyone; access to a free demo account is provided, which will allow you to get a preliminary impression of the broker’s terminal.
There is no minimum deposit, but it is recommended to invest from $ 500. At the same time, withdrawals from Forexite are made by bank transfer, electronic systems and other payment methods. The average spread is 3 pips, the maximum leverage is 1: 100. There is no information on margin, liquidity providers and other important trading conditions on the site.
What do customers say? Reviews on Forexite
Most traders who traded with a broker in 2008, 2016 and even 2020 note that the service has high spreads on all instruments, and claim that Forexite is a scam.
Published reviews of Forexite often contain information about delays or even denials in the payment of profits. Clients cannot withdraw funds, lose money on requotes and slippages, but the broker’s support team does not solve problems. Only a few are advised to cooperate with the company – mostly it has a reputation as an incompetent and fraudulent intermediary.
