Score
Forexware
United States|5-10 years| https://forexware.com/en/
Website
Rating Index
Influence
Influence
C
Influence index NO.1
India 2.68Contact
Licenses
No valid regulatory information, please be aware of the risk!
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic Information
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Website
forexware.com
Server Location
United States
Website Domain Name
forexware.com
Website
WHOIS.NETWORKSOLUTIONS.COM
Company
NETWORK SOLUTIONS, LLC.
Domain Effective Date
2000-07-14
Server IP
104.18.88.28
-
bostontechnologies.com
Server Location
United States
Website Domain Name
bostontechnologies.com
Website
WHOIS.VERISIGN-GRS.COM
Company
GODADDY.COM, LLC
Domain Effective Date
2003-07-27
Server IP
74.217.227.150
Company Summary
Currently, the official website of Forexware is unable to open.
| Forexware Review Summary | |
| Founded Year | 2020 |
| Company Name | Forexware |
| Registered Country/Region | United States |
| Regulation | Not regulated |
| Market Instruments | FX, Metals, CFDs |
| Demo Account | Available |
| Leverage | Up to 1:500 |
| Spread | From 0.0 pips |
| Trading Platform | XW Trader, XW Trader Mobile, MT4/5 |
| Min Deposit | $10 |
| Customer Support | Phone: (1) 212-437-8100 |
| Online Chat: Available | |
| Email: Not mentioned | |
Forexware Information
Founded 2020 in the United States, Forexware is a trading tool providing FX, metals, and CFDs. Forexware suits traders of all stripes with leverage up to 1:500, spreads from 0.0 pips, and several account kinds. Still, it runs free from governmental supervision.
Pros and Cons
| Pros | Cons |
| Competitive spreads starting from 0.0 pips | Unregulated |
| Offers multiple account types, including Islamic accounts | Higher minimum deposits for Pro accounts($1000) |
| Diverse trading platforms: XW Trader, MT4/5 |
Is Forexware Legit?
Forexware is not regulated by any financial authority.
What Can I Trade on Forexware?
Forexware provides over 46 currency pairs, metals, and CFDs.
| Tradable Instruments | Supported |
| FX | ✔ |
| Metals | ✔ |
| CFDs | ✔ |
| Stocks | ❌ |
| ETFs | ❌ |
| Cryptocurrencies | ❌ |
Account Types
Forexware offers 4 account types. All accounts include demo options.
| Attribute | Standard Account | Cent Account | Pro Account | Islamic Account |
| Leverage | 1:500 | 1:100 | 1:100 | 1:500 |
| Spread | 0.0 pips | 0.1 pips | 0.0 pips | 0.0 pips |
| Commission | $0.02 per lot | $0.002 per lot | $0.05 per lot | $0.02 per lot |
| Min Deposit | $100 | $10 | $1,000 | $100 |
| Demo Account | Yes | Yes | Yes | Yes |
Forexware Fees
Forexware offers spreads starting from 0.0 pips and low commissions.
Non-trading fees, such as deposits and withdrawals, are generally free.
| Fee Type | Details |
| Spreads | From 0.0 pips |
| Commission | $0.002 - $0.05 per lot |
| Deposit Fee | Free |
| Withdrawal Fee | Free |
| Min Deposit | $10 (Cent Account) |
| Processing Time | Instant to 7 business days |
Trading Platform
Forexware provides popular MT4/5 platform, and XW Trader platform.
| Trading Platform | Supported | Available Devices | Suitable for |
| XW Trader | ✔ | Desktop | Institutional and advanced traders |
| XW Trader Mobile | ✔ | Mobile (iOS, Android) | On-the-go traders |
| MT4/5 | ✔ | Desktop, Mobile | Novice and experienced traders |
Deposit and Withdrawal
Forexware supports multiple deposit and withdrawal methods with no fees. The minimum deposit is $10.
| Method | Min Deposit | Fees | Processing Time |
| Credit/Debit Cards | $10 - $1,000 | Free | Instant to 5 days |
| Bank Transfers | $10 - $1,000 | Free | Up to 7 business days |
| E-Wallets (PayPal, etc.) | $10 - $1,000 | Free | Instant |
Keywords
- 5-10 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
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