Forex.ee scam review: broker data analysis and client feedback.
Forex EE – reliability and transparency
Who is behind the scenes of the company?
The broker Forex EE claims to have been on the market since 2004. However, upon analysis, some inconsistencies were found. The company NST Systems Ltd., the owner of the broker, was registered only in 2018.
The registration certificate indicates a registration location in the offshore zone of Saint Vincent and the Grenadines.
Date inconsistency: the forexee.com website was launched in 2013, not in 2004 as claimed. One of the broker’s previous domains – forex.ee – was registered in Estonia in 2010 and automatically redirects to the official forexee.com website.
These facts raise doubts about the integrity of the Forex EE company.
Trading conditions
Forex EE offers three types of ECN accounts with automatic trading technology and features such as spreads from 0 points, no requotes, the ability to trade during high asset volatility, low initial deposit, and no additional commissions.
The technologies used by the broker provide access to deep liquidity, fast trade execution, and protection against slippage. The minimum deposit for a cryptocurrency account is 10 USD, for ECN accounts – 200 USD, and for an STP account – 50 USD. The broker offers trading without swaps but with an additional commission equal to the swap.
Features include the MetaTrader 4 trading terminal, a demo account for skills testing, and the ability to withdraw profits via bank transfer and payment systems Skrill, WebMoney, Neteller.
In addition to independent trading, access is provided to the PAMM service for managed trading.
Additional features
Customers are provided with several functions such as One Click Trading Level2, margin and point cost calculator, currency exchange rate history, commission calculator.
Forex EE also pleases customers with bonus programs and promotions such as “Copy professionals!”, “Replenish without commission!”, “Forex.ee helps you earn on a dream!”.
Reviews overview
Positive reviews about the Forex EE company relate to the period of its registration in Estonia. Since 2018, there have been numerous complaints about the company related to manipulations and slippages.
Customers complain about unreliability, poor service quality, and withdrawal issues.
Results
Despite favorable conditions and plenty of bonuses, Forex EE does not appear to be a reliable broker due to allegations of fraud and a decline in quality after moving offshore.
We recommend being cautious when choosing a broker and avoiding companies with a questionable history.
If there are arguments capable of changing our opinion, we are ready to hear them in your review.
Author: Sasha Chaika