ForexBY

　　ForexBY, a Belarusian financial services provider, offers access to the over-the-counter forex market, facilitating investments in securities, foreign exchange, oil, metals, and futures contracts with ease. ForexBY caters to investors with four distinct account types and provides the platform provides a range of valuable resources. However, ForexBY solely offers CFDs and stock indices, omitting bonds, options, and other derivatives from its offerings and it is not regulated.

• Pros & Cons of ForexBY

Pros	Cons
Diverse Investment Options	Lack of Regulation
High-Quality Resources	Limited Securities Products Provided
Account Variety	Regional Restrictions

Pros of ForexBY:

　　- Diverse Investment Options: ForexBY provides access to a wide range of investment opportunities, including securities, foreign exchange, oil, metals, and futures contracts, allowing investors to diversify their portfolios and potentially enhance returns.

　　- High-Quality Resources: The platform offers high-quality forecasts, analytics, and educational materials created by experienced finance specialists, helping clients make informed investment decisions and stay updated on market trends.

　　- Account Variety: ForexBY offers a selection of account types - Standard, Pro, Premium, and Platinum - catering to different investor preferences and levels of experience.

Cons of ForexBY:

　　- Lack of Regulation: ForexBY operates without valid regulation, which could expose investors to higher risks such as potential fraud, mismanagement, or lack of accountability.

　　- Limited Securities Products Provided: The platform only offers Contracts for Difference (CFDs) and stock indices, omitting other popular investment options like bonds, options, and other derivatives, limiting the investment choices available to clients.

　　- Regional Restrictions: ForexBY has limitations or restrictions based on the regions or countries where it operates, potentially excluding some investors from accessing its services due to regulatory or compliance reasons.

• Is ForexBY Safe？

　　ForexBY states that it provides certain safeguards such as Segregation of accounts and SSL encryption to protect clients' funds and data. However, ForexBY lacks valid regulation at present, indicating a lack of government or financial authority supervision over its operations. This absence of oversight poses significant risks for investors engaging with the platform.

　　The absence of regulation means that there is no external body holding ForexBY accountable for its actions. Without regulatory oversight, the individuals behind the platform could potentially misuse clients' funds without consequences. In the worst-case scenario, they could abscond with investors' money without warning or recourse.

• What are Securities to Trade with ForexBY？

　　ForexBY only offers Contracts for Difference (CFDs) and stock indices and it does not provides bonds, options, and other derivatives.

　　- Securities (A Share CFDs):

　　ForexBY offers Contracts for Difference (CFDs) on individual company shares, known as A share CFDs. These CFDs allow traders to speculate on the price movements of individual stocks without owning the underlying assets. Traders can benefit from leverage and the ability to profit from both rising and falling prices.

　　- Stock Indices:

　　Dow Jones Industrial Average (DJI): A benchmark index that tracks the performance of 30 large, publicly-owned companies in the United States.



　　S&P 500: A market-capitalization-weighted index of the 500 largest publicly traded companies in the U.S.

　　USDX or DXU Index: A measure of the value of the U.S. dollar relative to a basket of foreign currencies.

　　European “Blue Chips” or Euro Stoxx 50: An index representing 50 large, blue-chip companies in the Eurozone.

　　Blue Chips of the London Stock Exchange or FTSE: A collection of 100 companies listed on the London Stock Exchange with the highest market capitalization.

　　But it provides forex currency, stock indices and precious metals and oil to trade.

　　- Forex Currency Pairs: Forex trading on ForexBY includes major, minor, and exotic currency pairs. Major pairs typically involve currencies from major economies like USD, EUR, GBP, JPY, etc. Minor pairs consist of currencies from smaller economies, while exotic pairs pair a major currency with a currency from an emerging or smaller economy.

　　- Precious Metals and oil: These metals are traded as commodities on ForexBY. Traders can take positions on the price movements of gold (XAU/USD) and silver (XAG/USD), which are influenced by various factors including economic data, geopolitical events, and market sentiment. Besides, Crude oil is another tradable commodity on ForexBY.

• ForexBY Accounts

　　ForexBY offers four types of accounts: Standard, Pro, Premium, and Platinum.

　　- Standard Account: It features a spread from 0.9 pips, a minimum deposit of $500, no commission, and allows up to 200 orders.

　　- Pro Account: It offers a spread from 0 pips, requires a minimum deposit of $1000, and charges $9 for 1 lot of foreign currency. For CFD trading, commissions start from 0.02%. It also allows up to 200 orders.

　　- Premium Account: This account type provides a spread from 0 pips, requires a minimum deposit of $10,000, charges $7 for 1 lot of foreign currency, and offers CFD commissions starting from 0.01%. It allows up to 500 orders.

　　- Platinum Account: It offers the same benefits as the Premium Account but with a higher minimum deposit of $50,000. Additionally, the commission for foreign currency trading is reduced to $6 for 1 lot, and CFD commissions start from 0.008%. It also allows up to 500 orders.

　　All accounts offer execution speeds of up to 1 second, minimum lot sizes of 0.01, maximum lot sizes of 100, a margin call level of 70%, stop level of 35%, minimum step of 0.01, and leverage ranging from 1:3 to 1:200.

Account Type	Spread	Minimum Deposit	Commission (Foreign Currency)	Commission (CFD)	Max. Number of Orders
Standard	From 0.9 pips	$500	None	None	200
Pro	From 0 pips	$1000	$9 for 1 lot	From 0.02%	200
Premium	From 0 pips	$10,000	$7 for 1 lot	From 0.01%	500
Platinum	From 0 pips	$50,000	$6 for 1 lot	From 0.008%	500



• ForexBY Fees Review

• 　　Account Type Commission:

　　- Standard: None

　　- Pro: $9 for 1 lot or from 0.02% for CFDs

　　- Premium: $7 for 1 lot or from 0.01% for CFDs

　　- Platinum: $6 for 1 lot or from 0.008% for CFDs

• 　　Deposit and Withdrawal Fees:

　　- No commission for deposit and withdrawal, but minimum deposit for the first investment account is $500. Subsequent deposits can be as low as $10.

　　- Funds deposited during working hours reflect within an hour, otherwise within the first business day following the deposit.

　　- Withdrawals are commission-free to the bank card used for deposits, up to the amount of the deposit.

　　- Withdrawal deadlines vary depending on the method, ranging from 3 days to 10 days for bank card withdrawals.

• 　　Bank Transfer Fees:

　　- Bank currency transfer within the Republic of Belarus: Commission varies from 0 USD to 15 USD depending on the bank.

　　- International bank transfer in foreign currency: Fee is 0.15% of the transfer amount (minimum $20, maximum $200).

• ForexBY App Review

　　ForexBY offers the xCritical trading platform, a unique and innovative platform designed to help traders maximize profits. With more than 55 instruments available for trading and the ability to create custom investment portfolios, traders have the flexibility to diversify their investments and optimize their strategies.

　　One of the key features of the xCritical platform is its focus on performance and graph accuracy, providing traders with reliable and up-to-date market data for informed decision-making. The platform also integrates the Autochartist tool for fast technical analysis, giving traders advanced insights into market trends and potential trading opportunities.

　　To further assist traders in making profitable trades, the platform offers signals that alert users to favorable buying or selling opportunities. Traders can also conveniently set stop-loss and take-profit levels directly on the chart, helping to manage risk and optimize returns.



• Research & Education

　　ForexBY provides a suite of analytics and educational tools designed to enhance the trading experience for users. These tools include:

　　- Economic Calendar:

　　This tool provides a comprehensive overview of upcoming economic events, releases, and indicators that could potentially impact the financial markets. The economic calendar includes key economic indicators from various countries, along with their estimated impact on the markets.

　　- Quarterly Reporting:

　　ForexBY offers quarterly reports or analyses that cover market trends, performance reports, and insights into the financial markets.

　　- Video Training:

　　The platform provides educational videos that cover various aspects of trading, including strategies, market analysis, and how to use the trading platform effectively.

　　- Glossary:

　　A glossary of terms is often provided to help traders understand the terminology used in the financial markets. This can be particularly useful for beginners, as it helps them familiarize themselves with the language of trading and the concepts involved.

　　- Investors Calculator:

　　This tool allows traders to calculate potential profits or losses based on their trading strategies and positions. It can help in risk management by allowing traders to estimate the potential impact of market movements on their trades, and to adjust their positions accordingly.



• Customer Service

　　Customers can get in touch with customer service line using the information provided below:

　　(by phone number: Mon-Fri. from 9:30-20:00

　　online chat: around the clock)

　　Telephone: +375 29 757 70 70

　　+7 960 130 37 24

　　Email: info@forexby.com

　　finance@forexby.com

　　ForexBY offers online messaging as part of their trading platform. This allows traders to communicate with customer support or other traders directly through the platform. Online messaging can be a convenient way to get real-time assistance or to engage in discussions with fellow traders.



• Conclusion

　　In conclusion, ForexBY offers a range of benefits such as diverse investment options, high-quality resources, and account variety, which can appeal to investors seeking to diversify their portfolios and make informed decisions. The platform boasts a team of experienced finance professionals who provide high-quality forecasts, analytics, and educational materials to assist clients in maximizing their investment returns. However, it is essential to acknowledge the platform's drawbacks, including the lack of regulation, limited securities products provided, and regional restrictions, which can pose risks and constraints for investors.

Frequently Asked Questions (FAQs)

• 　　Is ForexBY regulated？

　　No. It has been verified that this broker currently has no valid regulation.

What types of securities can I invest in with ForexBY？

　　You can trade Contracts for Difference (CFDs) and stock indices, forex currency, stock indices and precious metals and oil.

How can I depositwithdraw money from ForexBY？

　　You can deposit and withdraw money via VISA, mastercard, bank transfer, and cash payments.

At ForexBY, are there any regional restrictions for traders？

　　Yes. It does not provide services for citizens and residents of the USA, Israel, Canada, Puerto Rico, Japan, North Korea, Iran, and Ireland.

Risk Warning

　　The information provided is based on WikiStock's expert evaluation of the brokerage's website data and is subject to change. Besides, online trading entails substantial risks, potentially leading to total loss of invested funds, so comprehending associated risks before engaging is crucial.