Forex EE has a reputation as a credible, safe, and transparent forex brokerage. With ECM commissions as low as $1, this leading forex broker certainly warrants careful consideration by clients. Professional traders routinely flock to Forex EE for the many benefits in store. These include no re-quotes, no interventions, no restrictions on trading, complete transparency, and no conflict of interest. Among others, the deposit minimums of $50 are highly enticing to casual traders, and with spreads as low as 0 pips and leverage as high as 1:500, this forex broker certainly offers something for everyone.
Perhaps the most notable benefit of trading with Forex EE is the sophisticated technology it offers. Powerful trading platforms in the form of MT4 ECN are ideal for Forex trading with major pairs, minor pairs, and exotic currency pairs. This broker also has deep liquidity, and works with top-tier international banks. Other benefits provided by this established brokerage include slippage control and true ECN/STP processing. However, clients may wish to contact support about the issue of commingling of their funds with company funds since segregation of funds is not expressly advertised.
Clients have access to multiple account types, notably ECN accounts, STP accounts, and Cryptocurrency trading accounts.
STP account – requires a minimum deposit of $50 to open. The minimum trading lot is 0.01, and spreads are as low as 0.5. The maximum leverage is 1:500 and there are no commissions. Currencies that can be used include Japanese yen, Russian ruble, EUR, and US dollar.
Basic ECN account – the minimum amount to open this account is $200, and the minimum lot is 0.01. Spreads are as low as 0 and there is leverage of 1:500 available. Commissions are 5 units of the base currency for each 1 lot. Multiple currencies are supported, including Bitcoin, Australian dollar, Japanese yen, US dollar, euro, and Russian ruble.
Advanced ECN account – the minimum required amount to open this account is $1000. The minimum lot is 0.01, and spreads are as low as 0. Leverage is 1:500, the commission is 2.5 units of base currency for each 1 lot. The same currencies as the basic ECN account are accepted.
Premium ECN account – the premium ECN account requires a minimum of $25,000 deposit. The minimum lot is 0.01, and the spread is as low as 0. Leverage is limited to 1:200, and the commission is 1.8 units of the base currency per 1 lot. The same currencies as the basic and advanced ECN accounts are accepted.
The Crypto account – the crypto account requires a minimum deposit of $10. The minimum lot is 0.01, and the spread depends on the liquidity in the market. Leverage is low with crypto currency, at 1:3. Commissions are 0.5% of trade volume in the base currency. The currencies that are accepted with the crypto account include LTC, MBT, USD, RUB, and EUR.
Clients can also open demo accounts with any of the aforementioned account types. It should be noted that there are maintenance fees on dormant accounts of $10 per month, and a reactivation fee of $50 will be imposed.
Trading Platform/ software
The trading platform at Forex EE is Meta Trader 4. This is the world’s foremost forex trading platform. The software for MT4 was introduced back in 2005, and has been significantly upgraded in the years since. MetaTrader 4 also allows EAs (Expert Advisors), which are adept at analyzing trading activity and assisting clients to increase their profitability. EAs on MT4 use the MQL4 programming language. Among the many benefits of the trading platform at Forex EE are advanced charting features with a full range of technical analysis tools, quick click trading, and charts/graphs, and other technical indicators.
MetaTrader 4 also allows for full mobile trading functionality on Android and iOS devices. It is fully compatible with Linux, PC and Mac. A full suite of trading tools can be used on the MT4 platform, including One Click Trading Level 2, Margin and Pip Value Calculations, Currency Exchange Rates, and Commission Calculators. Forex EE clients can also try signals for free. The signal providers can easily be connected to an ECN account or an STP account. The trading platform supports tight spreads, low commissions and charges, and attractive trading conditions.
Forex EE offers a full spread of deposit options for clients. These include credit cards (Visa and MasterCard), wire transfer, electronic payment options (Skrill, Web Money, NETELLER, Perfect Money, Visa Qiwi Wallet, fasapay, Bitcoin, Bitcoin Cash, Litecoin, Ethereum), and internal transfers. The typical currencies that are supported include the USD, EUR, JPY, CNY, AUD, and IDR. There are no commissions on credit card deposits, but there are fees and commissions on certain electronic payment methods.
Forex EE offers a range of forex pairs for traders in demo mode and real money mode. Popular pairs include EUR/USD, AUD/USD, EUR/JPY, USD/JPY, GBP/USD, GBP/EUR, GBP/JPY and others. Cryptocurrency pairs are also available such as BTC/USD.
At the time of writing, Forex EE was offering a new welcome bonus of $15 for STP (straight through processing) accounts. Traders are required to register for an STP account and then contact the customer support team via their personal account manager. This promotional offer became active on September 1, 2015.
Forex EE offers a range of customer support options, including customer support emails, telephone number, a physical address, FAQs and live chat. Each of these options is briefly discussed below:
Telephone Number – +44-203-519-82494 general questions between the hours of 7 AM and 4 PM GMT, Monday through Friday.
Physical Address –
NTS Systems Ltd.
First St Vincent Bank Ltd Building, James Street,
Live chat functionality – live chat is powered by Jivochat. Customer service representatives are standing by to assist with technical, trading, registration, and account-related information. This is the quickest way to get in touch with a professional support representative when they are available.
Safety and security is always an important feature of Forex trading brokerages. Unfortunately, we were not able to find any regulatory authorities sanctioning this forex trading broker. It is registered in Estonia with the Ministry of Economic Affairs however there is scant evidence to suggest that it is authorised to offer investment services. The authority tasked with this is the Estonian Financial Supervisory Authority (EFSA), and this very body purportedly cautioned against the company which owns Forex EE.
Ease of Use
Forex EE does a fine job of simplifying trading activity. Different account types are tailored to different types of traders, and these are neatly displayed on site. Further, clients can enjoy 1-click functionality on the prestigious MT4 (MetaTrader 4) platform on PC, Mac, Linux, Android or iOS devices. This trading brokerage is geared towards casual traders and institutional traders, and features a wide range of technical and fundamental analysis, tools and other elements.
Forex EE offers an adequate selection of major pairs, minor pairs, and exotic currency pairs. It also features several commodities and cryptocurrencies. There are many plus points to consider, notably the inclusion of a Demo Trading platform and many different account types for traders. The most concerning issue is the lack of regulation on site.