Review of the ForexBY broker, its activities, and possible risks for investors. Feedback from deceived clients.

The company ForexBY positions itself as a reliable Belarusian provider of financial services, providing access to the off-exchange Forex currency market. Clients are given the opportunity to conduct trading operations through one of the most in-demand platforms, which contributes to safe and efficient investment management.

The official website is available in Russian, but a number of additional localizations are also presented for user convenience. A screenshot of the main page is presented below.

The broker reports that it operates in the legal status of a limited liability company registered in the Republic of Belarus. Information about the legal entity, including the taxpayer identification number, is presented on the official resource. Internal documentation regulating the terms of cooperation, the procedure for providing services, and the features of interaction with clients is posted in the relevant section of the platform and is available for review in a wide scope.

Broker ForexBY: trading conditions

The Forex BY platform offers a structured approach to organizing the trading process, providing for the use of predefined account types. Each of the presented categories is developed taking into account differences in the level of client preparedness and their individual strategies, which ensures the possibility of choosing the optimal format of interaction within the declared service conditions.

1. Standard. Account top-up from $500. Floating spreads from 0.9 pips. No commission. Margin call 70%. Leverage up to 1:200.
2. Pro. Account top-up from $1,000. Floating spreads from 0 pips. Commission $9 per lot, CFD from 0.02%. Margin call 70%. Leverage up to 1:200.
3. Premium. Account top-up from $10,000. Floating spreads from 0 pips. Commission $7 per lot, CFD from 0.01%. Margin call 70%. Leverage up to 1:200.
4. Platinum. Account top-up from $50,000. Floating spreads from 0 pips. Commission $6 per lot, CFD from 0.008%. Margin call 70%. Leverage up to 1:200.

Assignment of an account type is carried out upon meeting the requirements for the minimum amount of margin collateral credited to the client’s account. If on the last day of the calendar month the amount of equity on the account does not meet the established level for a certain account category (Pro, Premium, Platinum), the company reserves the right to change the account type to a lower one without prior agreement with the client.

An account is recognized as inactive if no operations, including margin transactions initiated by the client, have been conducted on it for the last 90 calendar days. In such a case, a monthly fee is charged until the funds on the investment account are completely depleted or until trading activity is resumed.

ForexBY Trading Platform

The trading platform provided by the broker is developed based on MetaTrader 4 and is aimed at users interested in effective work with off-exchange instruments. The solution supposedly combines modern technologies, an extended set of trading functions, and a convenient interface, making the platform attractive for both novice investors and experienced traders. The system of market data analysis and process automation allows adapting the strategy to current market conditions.

At the same time, the broker emphasizes that trading using non-deliverable off-exchange financial instruments is associated with a high level of risk. The information posted on the site is for informational purposes only and is not considered an investment recommendation. Financial results achieved in the past cannot serve as a reference for future operations and do not guarantee profits.

How to withdraw money from Forex BY broker

The company provides the opportunity to make settlements using bank transfers, debit and credit cards, as well as through cash payments at bank branches. The procedure is initiated through the ForexBY personal account. The processing time for deposits and withdrawals depends on the chosen transaction method. At the same time, there are limits on account top-ups from a card - the maximum amount of one transfer is $5000. The company does not charge a commission for deposits and withdrawals, but additional fees may be charged by financial institutions when using bank transfers.

Conclusion about forexby.com

Intentional concealment of legal documentation raises doubts about the legality of the services provided. Taking this fact into account, it is worth studying reviews about ForexBY and clarifying the intermediary’s position in the current broker rating.