Forex.EE Review: Scam Or Legit? | Find Out Here 2024

Forex.EE Review: Scam Or Legit? | Find Out Here 2024
Earn your financial freedom with a regulated broker
Is Forex.EE a scam? Are they legit? Find the answers to all these questions and more in this guide.
Summary

Forex.EE is a major forex broker and has received a lot of praises from Intelligence Commissioner users. They have established themselves as an industry leader.

Forex.EE is a prominent broker in the forex industry, providing a comprehensive array of services and features that are tailored to the requirements of both neophyte and professional traders. Forex.EE offers a secure and innovative trading environment by adhering to regulatory compliance, competitive trading conditions, and advanced technology.

We suggest working with a trustworthy broker with specialized staff, latest tech and most importantly, customer-centric trading conditions. After reviewing 1000+ brokers, we rank the following company as the best:

1

Key Takeaways

Forex.EE has several major red flags
Forex.EE website owner is anonymous
Vague terms of service
2

Is Forex.EE Regulated? Do They Have a License?

In the constantly changing forex trading industry, it is essential for traders who aspire to achieve success to identify a broker that provides both innovation and reliability. Since 2004, Forex.EE has been offering trading services as a contemporary and dynamic online foreign exchange broker. Forex.EE has established itself as a prime choice for traders worldwide due to its dedication to regulatory compliance, competitive trading conditions, and advanced technology. This article delves into the primary features and benefits of Forex.EE, elucidating the reasons why it is a prominent broker in the forex industry.

Forex.EE is dedicated to ensuring a secure and trustworthy trading environment, and regulatory compliance is a fundamental component of its operations. Forex.EE is a brokerage firm that is officially registered in the European Union and possesses all necessary licenses, such as VVT000334 and FFA000133. This regulatory supervision guarantees that the broker maintains strict financial standards and operational guidelines, providing traders with a sense of security when conducting trading activities.

Forex.ee Homepage


Checking the regulatory status of a forex broker is essential. However, there are multiple tiers of regulation as well.

Some popular regulatory authorities include FCA and CFTC.

Whether its Forex.EE or another forex broker, it’s best to check if they are regulated by one (or more) of these authorities:

Commodity Futures Trading Commission (CFTC) – United States:

The CFTC is an independent agency of the U.S. government that regulates the futures and options markets. It also oversees the forex market, particularly ensuring the integrity of transactions and protection against fraud and manipulation.

National Futures Association (NFA) – United States:

The NFA is a self-regulatory organization for the U.S. derivatives industry, including on-exchange traded futures, retail off-exchange foreign currency, and OTC derivatives. It ensures that every firm or individual conducting futures and forex business with the public must be registered and must comply with strict standards.

Financial Conduct Authority (FCA) – United Kingdom:

The FCA is a financial regulatory body in the UK that oversees financial markets, including forex. It ensures that financial markets operate with integrity and that consumers are protected.

Australian Securities and Investments Commission (ASIC) – Australia:

ASIC is an independent Australian government body that acts as Australia’s corporate regulator. It oversees financial markets and services, ensuring that financial markets are fair and transparent, and it also regulates forex brokers.

Financial Services Authority (FSA) – Japan:

The FSA in Japan oversees banking, securities, and exchange, as well as insurance sectors to maintain the stability of Japan’s financial system. It regulates forex trading and brokers to ensure the protection of investors.

Swiss Financial Market Supervisory Authority (FINMA) – Switzerland:

FINMA is responsible for financial regulation in Switzerland. It oversees banks, insurance companies, and financial markets, including forex brokers, ensuring they operate within a secure and transparent framework.

Cyprus Securities and Exchange Commission (CySEC) – Cyprus:

CySEC is the financial regulatory authority of Cyprus, which is a popular jurisdiction for forex brokers. It supervises and controls the operation of the Cyprus Stock Exchange and regulates forex brokers to ensure compliance with international standards.

Investment Industry Regulatory Organization of Canada (IIROC) – Canada:

IIROC oversees all investment dealers and trading activities on debt and equity marketplaces in Canada, including the forex market, ensuring that firms adhere to high standards of conduct.

Monetary Authority of Singapore (MAS) – Singapore:

MAS is the central bank and financial regulatory authority of Singapore. It oversees various financial institutions and markets, including forex, ensuring they are well-regulated and stable.

Financial Sector Conduct Authority (FSCA) – South Africa:

The FSCA is responsible for market conduct regulation and supervision of financial institutions in South Africa, including forex brokers, to ensure fair treatment of customers and the integrity of financial markets.

These regulatory bodies play a crucial role in maintaining the integrity of the forex market by enforcing rules and regulations, ensuring transparency, and protecting traders and investors from fraudulent activities.

Checking the regulatory status of brokers like Forex.EE is quite beneficial. It inspires trust in the brand.

3

Trading Conditions and Deposit/Withdrawal Methods at Forex.EE

Regulatory compliance is indispensable, as it guarantees that the broker operates within the confines of established financial regulations, thereby protecting the interests and funds of traders. Traders can be assured that their trading experience is secure and transparent by selecting a regulated broker such as Forex.EE.

Forex.ee deposit and withdrawal


Foreign exchange.EE is renowned for its competitive trading conditions, which are intended to optimize traders’ potential and improve the trading experience. The following conditions are included:

  • Exceptionally rapid execution: Forex.Market execution is the exclusive type of service provided by EE, guaranteeing the rapid and efficient processing of orders. This rapid execution is essential for traders who wish to optimize their trading strategies and capitalize on rapid market movements.
  • Tight Spreads: The broker offers spreads that begin at 0 pence for certain accounts. Forex.EE is an appealing choice for cost-conscious traders due to its tight spreads, which decrease trading costs and increase potential profitability.

Forex is a high-leverage asset.EE provides traders with the ability to enhance their market exposure and trading strength by allowing them to leverage up to 1:500. It is imperative for traders to effectively manage and comprehend their risk, as high leverage can amplify both profits and losses.

Forex.EE offers trading opportunities to a diverse array of traders, including those with restricted capital, with minimal deposits as low as $15. This low entry barrier enables novice traders to commence their trading voyage without making a substantial financial commitment.

A Wide Range of Account Types

In order to accommodate a wide range of trading strategies, Forex.EE provides a diverse selection of account types, bearing in mind that traders have varying requirements and preferences. These consist of:

  • Straight-Through Processing (STP) Accounts: This account form provides direct market access without the need for dealing desk intervention, resulting in fast execution and competitive pricing.
  • ECN Accounts: The Electronic Communication Network (ECN) accounts provide genuine ECN connectivity with robust liquidity, thereby guaranteeing accurate trade execution and minimized slippage.
  • Crypto Accounts: For traders who are interested in the cryptocurrency markets and Forex.EE provides specialized Crypto accounts that offer access to 13 crypto pairs, enabling traders to pursue a variety of trading opportunities.
  • Percentage Allocation Management Module (PAMM) Accounts: These accounts enable investors to distribute their funds to seasoned traders, thereby participating in the profits generated by professional trading strategies.

Forex.EE provides a customized trading experience by offering a variety of account types that are tailored to the specific trading requirements and objectives of its users.

A Broad Spectrum of Trading Instruments

Foreign exchange.EE offers traders the ability to diversify their portfolios and investigate a wide range of market opportunities by providing access to a wide range of trading instruments. Available instruments consist of:

Forex.EE provides 49 currency combinations that encompass major, minor, and exotic currencies. Traders can take advantage of the global currency market’s fluctuations and trends by utilizing this extensive selection.

Forex.EE provides traders with the opportunity to engage in the volatile and swiftly expanding cryptocurrency market by offering 13 cryptocurrency pairs in addition to traditional forex pairs.

Gold and Silver: Traders have the ability to access precious metals markets, such as gold and silver, which offer valuable hedging and diversification opportunities.

This extensive selection of trading instruments enables traders to investigate a variety of markets, thereby increasing their trading potential and enabling more strategic portfolio management.

Foreign exchange.EE prioritizes the utilization of advanced technology to guarantee that traders have access to state-of-the-art platforms and tools that improve their trading experience. Key technological advantages consist of:

Forex platform: MetaTrader 4.EE employs the MetaTrader 4 platform, which is renowned for its user-friendly interface, extensive analytical tools, and robust features. The platform facilitates mobile trading, which enables traders to execute transactions and manage their accounts while on the go.

Forex.EE provides competitive pricing and precise trade execution through true ECN connectivity and deep liquidity. This connectivity enables merchants to capitalize on transparent pricing and direct market access.

The broker offers Level 2 Market Depth, which provides a comprehensive understanding of market activity and order flow. Slippage control features enable traders to execute their trades with greater precision, thereby mitigating the likelihood of unforeseen price fluctuations.

Forex.EE enhances the trading experience by utilizing advanced technology, which equips traders with the necessary tools and capabilities to succeed in competitive and dynamic markets.

Foreign exchange.EE provides a variety of trader-friendly features that improve the overall trading experience and enable traders to effectively implement their strategies:

Hedging and Expert Advisors: The broker permits the use of trading advisors (expert advisors) and hedging, which allows traders to automate their trading activities and implement a variety of trading strategies.

Trading During News Releases: Forex.EE permits trading during news releases, in contrast to other brokers that prohibit it. This provides traders with the chance to profit from market volatility and news-driven price fluctuations.

These capabilities enable traders to execute their trading strategies without constraints, thereby fostering a responsive and dynamic trading environment.

Foreign exchange.Assuring that traders can efficiently and conveniently administer their accounts, EE supports a diverse selection of deposit and withdrawal methods. The funding alternatives that are accessible includes. The use of credit and debit cards offers a rapid and convenient approach to the funding of accounts and the withdrawal of profits. For traders who favor digital payment methods, Forex.EE supports a variety of e-wallets, which provide rapid and secure transactions.

Traditional bank transfers are accessible to merchants who prefer more conventional payment methods, offering a secure and dependable funding option.

This adaptability in financing options guarantees that traders can select the payment method that most effectively meets their requirements, thereby enabling the efficient and seamless management of their accounts.

Forex.EE Attractive Bonuses.In order to improve the trading experience and foster engagement with the platform, EE provides appealing incentives and promotions. An initial boost to their trading voyage is available to new traders by means of a $15 welcome bonus upon the opening of a real account. This benefit enables traders to investigate the platform and its capabilities with minimal financial risk.

Forex.EE Partnership Program for those who are interested in becoming affiliates, offers a lucrative three-level remuneration partnership program. By referring new clients and promoting the broker’s services, this program provides an opportunity to earn additional income. Affiliates can capitalize on competitive commission rates and a transparent partnership structure, rendering it an appealing alternative for those seeking to diversify their income streams.

Forex.EE is dedicated to delivering exceptional customer service, and in order to guarantee that traders receive prompt assistance and support, it provides a variety of support channels. Support options that are accessible include:

The broker’s online conversation feature enables traders to obtain immediate assistance by responding to inquiries and resolving problems in real time.

Forex.EE provides phone support to traders who prefer personalized assistance and direct communication.

Email Support: Traders may also contact the broker via email to submit more detailed inquiries and support requests.

This exhaustive customer support guarantees that traders have access to the assistance they require, thereby improving their overall trading experience and fostering confidence in the broker’s services.

Forex.EE offers traders valuable educational resources and tools to assist them in making informed decisions, recognizing the significance of education in achieving trading success. The broker provides traders with the ability to optimize their strategies and effectively manage their risk by providing trader calculators for commission, margin, and unit value calculations.

There are no restrictions on trading.

Forex.EE prioritizes a trading environment that is free of trading restrictions, thereby enabling traders to execute their strategies without constraints. This unrestricted trading environment fosters adaptability and creativity, allowing traders to dynamically respond to market changes and opportunities.

You should always check the trading conditions of a forex broker.

That’s primarily because they have a direct impact on your potential returns. Moreover, each forex broker such as Forex.EE has distinct trading conditions.

A major part of checking the trading conditions of a broker is to verify their deposit and withdrawal methods.

In the case of Forex.EE withdrawal, you can see that there are multiple options available.

It makes them accessible to traders. Furthermore, it ensures that people can trade freely.

Some major aspects to keep in mind are:

1. Spreads:

  • Fixed Spreads: These remain constant regardless of market conditions. They are generally higher than variable spreads but provide predictability in trading costs.
  • Variable (Floating) Spreads: These fluctuate based on market volatility and liquidity. They can be lower than fixed spreads during normal market conditions but can widen significantly during high volatility.

2. Leverage:

  • Leverage allows traders to control a larger position with a smaller amount of capital. It is expressed as a ratio (e.g., 100:1, 200:1). Higher leverage can amplify both potential profits and potential losses.

3. Margin Requirements:

  • Margin is the amount of money required to open a leveraged position. Brokers set margin requirements based on the leverage ratio. For example, with 100:1 leverage, a $1,000 position would require a $10 margin.

4. Minimum Deposit:

  • The minimum amount required to open an account varies by broker. Some brokers offer accounts with no minimum deposit, while others may require hundreds or thousands of dollars.

5. Trading Platforms:

  • Brokers provide various trading platforms, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and proprietary platforms. The choice of platform affects the tools, charts, and features available to traders.

6. Execution Methods:

  • Market Execution: Orders are executed at the best available price in the market. There may be slippage, especially during high volatility.
  • Instant Execution: Orders are executed at the price shown on the platform. If the price changes before execution, the order may be rejected (requote).

Keep in mind that shady forex brokers stop making payments and keep the money to themselves. Hence, you should always check the broker reviews to see if the broker’s payment methods work properly.

We recommend working with a reliable and trusted broker.

4

Forex.EE Customer Service: Do They Handle Complaints Well?

Good customer service is vital for any trader.

You should always check if a forex broker remains accessible to its customers and whether it offers multiple contact channels or not.

The most popular ways for recent customers are live chat and email.

While email is becoming a bit obsolete, it is still among the most common methods for a customer to contact the support staff of a broker.

In the case of Forex.EE, it’s clear that they offer proper customer support with a significant variety of ways to contact them.

According to multiple users, Forex.EE’s customer support is quite active and responds promptly to general queries and grievances.

Join The Whistleblower Program

If you have information on a scam or criminal operation, you can get access to 40+ investigative journalists & news outlets for free. Send us a detailed report here and if you qualify, we will forward your case ahead.

5

Forex.EE Reviews: What Do Others Say?

Based on user-submitted reports, most of the Forex.EE reviews are quite positive.

Customers praise the company for its prompt customer service and trader-friendly conditions.

However, it’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.

While Forex.EE doesn’t seem like a shady broker, many others rely on fake reviews to increase their credibility.

TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.

That’s why we recommend doing extensive research on forex brokers before finalizing your selection.

It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.

In the case of Forex.EE, however, we noticed that their reviews are legitimate.

Unlike their competitors, it seems Forex.EE has put in a lot of resources into providing its traders with specialized customer service. This way, their customers remain happy and satisfied with their experience.

Also, we didn’t notice many significant Forex.EE complaints. However, if you have any Forex.EE reviews to share, feel free to contact us or share them in the comment section.

Forex.EE reviews coverage


You should always look out for consumer complaints. The most common complaints in forex are usually regarding:

  • Poor customer support
  • Delays in payments
  • High fees
  • Lack of transparency regarding their leadership team
  • Aggressive sales staff

Do you have a similar complaint about Forex.EE? You can share your complaint in the comment section or submit an anonymous tip.

6

Is Forex.EE Legit Or a Scam?

Forex.EE enables traders to thrive in the dynamic and competitive forex trading environment by providing a diverse selection of account types, a wide range of trading instruments, and trader-friendly features. Forex.EE provides the necessary tools and support to help you achieve your trading objectives, regardless of whether you are a novice trader who is interested in the forex market or an experienced trader who is pursuing advanced trading capabilities.

Forex.EE


Forex.EE is a regulated entity. They are licensed and operate under the watch of a major financial regulator.

So, it’s clear that Forex.EE is a legit forex broker.

You should avoid working with unregulated brokers. The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind the unregulated broker can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.

However, that’s not the case with Forex.EE. It’s clear in ourForex.EE broker review that they are a legitimate entity and enjoy a positive reputation in the market.

Can You Trust Forex.EE?

All the evidence suggests that Forex.EE is legit. However, we recommend checking out more options before finalizing your choice.

That’s why we recommend working with a trusted broker. That way, you can avoid any hiccups and be certain of their reliability.

7

Frequently Asked Questions

Is Forex.EE a scam?

According to the online reviews of this company, it’s clear that Forex.EE is not a scam. However, we recommend checking out more brokers before before finalizing your decision.

What is the best alternative to Forex.EE?

We recommend going with our recommended broker instead of Forex.EE due to their higher experience and specialized technology.

Where is Forex.EE Located?

There is no information available on the location of Forex.EE.

Are there any Forex.EE complaints?

We’ve received a few Forex.EE complaints from our readers. If you’ve had a negative experience, feel free to write down a comment below or contact us.
8

How Forex Scams Work

Launch a website/app with a generic name

A website or app with a generic name allows scammers to hide behind common Google search results. Marketing such names is easier as well.

Pay influencers & social media pages to promote the scheme

By getting influencers and social media pages to promote their brand, scammers make their shady company seem more legit than it actually is.

Send thousands of emails and make cold calls to potential victims

It’s common for scammers to buy the contact details of people and spam them through email, phone calls, social media messages and other means.

Make victims feel safe through “small wins”

Such small wins usually include a few payments transferred into the victim’s account. This makes them seem more legitimate.

Convince victims into investing large sums of money

Due to the small wins, the victim is now convinced that the company is legit. Now, the scammers try to manipulate the victim into giving them larger sums.

Disable withdrawals & take down the website/app

Once the scammers have received a significant sum, they either stop responding or cite a technical error to freeze their victims’ funds.

Repeat the cycle

After making the money, the scam will shut down and the people running it will launch another and repeat the cycle.

If you’re looking to start trading, we suggest working with our recommended broker. We have reviewed 1000+ brokers and fintech firms and chosen them as our no. 1.
*Forex trading is subject to market risk.
Forex.EE Review: Scam Or Legit? | Find Out Here 2024
Forex.EE Review: Scam Or Legit? | Find Out Here 2024

We will be happy to hear your thoughts

Leave a reply

Don't Let The Scammers Win!

If you are a victim of any online scam, reach out to our team of experts using the button below.
We will provide an expert consultation free of charge.
Intelligence Commissioner
Logo