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The history of Forex.ee started in Estonia in 1998. It was founded by two enthusiastic traders who decided to try their chances and master the art of trading foreign currencies. After initial success, new people joined the broker`s team. Shortly after, the company started offering brokerage services to the local Estonian public. By 2005, Forex.ee had approved itself to be one of the most reputable Forex brokers in Northern Europe. Despite the fact that Forex.ee mainly works with clients from Europe, traders from CIS countries can also open a trading account with this broker.
There is no information about regulatory authorities on the broker`s website. All documentation, including the customer agreement, is in English.
Trading conditions
The broker provides its clients with a wide choice of trading accounts as well as access to global financial markets from anywhere in the world. Moreover, Forex.ee cooperates with traders of any level, offering only reliable crypto accounts such as ECN, STP, and Crypto. ECN technology eliminates conflicts of interest between the broker and clients while providing such trading advantages as narrow spreads, low fees, and interbank liquidity.
Customers can choose from the following account types: STP, ECN Basic, ECN Advance, ECN Premium, and Crypto with equally attractive conditions: no requotes, ultra-low spreads, and the opportunity to trade during periods of high market volatility. Forex.ee also offers STP accounts with no commission and low initial deposit. To open an account, traders should fill out an application form and pass verification.
The broker also gives access to cryptocurrency exchange trading. It is possible to open a demo account. On the Forex.ee`s website, there is a section with analytical materials, an economic calendar, and weekly reviews of financial markets. From time to time, customers receive welcome bonuses, e.g. a welcome bonus of $15.
Trading platforms
Forex.ee`s clients can make deals via the popular MetaTrader 4 trading platform, available in both desktop and mobile versions.
Support service
In the Support Service section, traders can find phone numbers and email addresses of the support team. There is a FAQ section that may help solve many problems with account registration and other similar questions. Clients can contact the support service via the live chat or fill out a feedback form on the website too. The support staff speaks several languages and works 5/2 from 09.00 to 16.00 GMT.
Deposit and withdrawal of funds
All payments are processed in USD or EUR. Forex.ee does not charge any commission for deposits or withdrawals. When making transactions, traders are only charged the commission of the local bank or the payment system they use. To deposit and withdraw money, you can use the following popular payment methods: Perfect Money, Payza, Webmoney, Skrill, Neteller, Bitcoin, VISA, MasterCard, and wire transfer. Withdrawals usually take 3-5 working days.
Feedback
Forex.ee is considered quite a reputable and trustworthy broker among traders mainly from Europe. Nevertheless, clients from the CIS also left positive reviews about the cooperation with the company. They note the broker`s exceptional reliability and attractive trading conditions: the wide choice of accounts, no commission, and an affordable initial deposit. Yet, traders from the CIS often complain about the protracted verification procedure of a trading account. However, the great majority of comments about Forex.ee are positive.
Advantages and disadvantages:
Pros:
- affordable initial deposit
- large array of trading accounts
- demo account
- low commission
- relatively high leverage for an ECN account
- time-proven MetaTrader 4 trading platform
Cons:
- no information about the regulator
- long account verification procedure for clients from the CIS
- lack of regular bonus programs
Conclusion
Forex.ee is a reliable company that has been operating for a long time. However, it is unknown to many investors from CIS countries. Yet, on the Internet, there are several positive reviews about cooperation with the broker from CIS investors. The company offers favorable trading conditions such as low spreads, low commission, protection from slippage, a wide choice of money withdrawal, and a demo account. Some traders can be scared off by the lack of license from competent regulators.
