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Overview

Company Forexite started its activities in 1999. It was organized by former employees of banks, who had huge experience on the global financial markets. The Head Office of the company is located in Tortola. The license for the provision of online brokerage services was obtained from the International Financial Services Commission of Belize.

Services, which are provided by Forexite, are completely different compared to services of many other brokerage companies.

Main features of Forexite:

- TradeRoom is a trading platform of Forexite that operates entirely on a different principle than the Meta Trader 4

- public quotation

- free program Forexite QuoteRoom (the most breaking financial news)

- user-friendly technical support.

Various materials are published on the site of the brokerage company. These materials allow novice traders to study Internet trading at the high level for a short period of time.

Bonuses

Promotions and contests are not held on the official website of Forexite, and Forex bonuses for the replenishment of trading accounts are not paid. It is a fundamental point of the company, as it believes that traders should earn money on the currency market independently without use of gifts and bonuses from Forex brokers.

Training

Many materials about trading on the Forex market are posted on the official website of Forexite, allowing novice traders to study trading from the basics and move on to more difficult levels.

Learning materials about trading on the Forex market:

1. Historical data about appearance and development of the Forex market:

- important stages in the development of Forex

- new technologies, used on Forex

- when Forex came to Russia

- unification of Europe

- appearance of new currency Euro.

2. About the international foreign exchange market:

- basic principles of trading on the foreign exchange market

- similarity of the Forex to exchange offices

- differences between the Forex and exchange offices

- how to start trading currency pairs

- how to become a successful trader, and begin to earn on Forex

3. Profession of a Forex trader:

- ideal profession

- what trader should know and be able to do

- why profession of trader is prestigious

- professional risks of traders

- how to create an independent business on the currency market

4. Margin currency pair trading on Forex:

- currency quotes (direct quote, indirect quote)

- spreads and their size

- currency codes

- currency appreciation and depreciation

- cross rates

- position opening

- position closing

- competent calculation of possible gains and losses from trading

- basic principles of margin trading

- deposit and correct use of leverage on its basis

- forced position closing

- transfer of open position

- orders and positions

- order types that are used in trading currency pairs.

5. Changes of foreign exchange rates:

- operations of Central Banks

- operations of funds

- import and export

- important world's financial news

- money movement

- levels of foreign exchange rates.

6. Forex economic indicators:

- economic indicators of Japan

- economic indicators of Germany

- economic indicators of the United Kingdom

- economic indicators of the United States

- economic calendar of the Forex market.

7. Foreign trade operations and hedging:

- trading companies of the foreign exchange market

- risk hedging

- required expenses on hedging

- real examples of hedging (export and import of goods from Europe, import from Canada).

8. Basic successful schemes that allow making a profit in currency pair trading:

- actual delivery

- circular currency trading

- actual delivery and circular trading

- hedging of possible risks.

9. Basic methods of analysis, used on the currency market:

- fundamental analysis

- technical analysis

- how to combine technical and fundamental analysis in order to increase profits

- advantages of technical analysis.

10. Advices to traders:

- traders should be completely independent in making decisions

- from simple to complex

- analysis of mistakes

- prevention of unreasonable losses

- profits should be increased

- no trading without discipline

- calculation of risks

- Forex trading strategy

- cyclical nature of the market

- psychology of the Forex market.

11. Forex glossary.

Terms of trading

Forexite offers the following trading conditions for traders:

- the foreign currency account (the base currency)

-no minimum deposit

- the recommended minimum deposit is $500

- the minimum lot size is 0.01

- the leverage is from 1:1 to 1:500

- the minimum sum of the open order is $1

- the maximum sum of the open order is $5,000,000

- a lot of currency pairs, gold and silver

- fixed spreads are from 2 points

- no slippages

- market swap

- no commission

- interest rate on idle funds (depending on the deposit).

Forexite TradeRoom

- Russian-speaking and English-speaking support

- public quotation

- modeling of the account status

- event log

- automatic conversion

- setup of trading transactions

- rollovers

- reporting.

Trading platform of Forexite TradeRoom differs significantly from Meta Trader 4, so before the beginning of work customers should learn the rules of trading on it, where it is necessary to pay serious attention to the "Safe Forex".

Company Forexite allows customers to open trading accounts. Their number is unlimited, but there are two types of accounts for operations on the foreign exchange market:

- Mini

- Standard.

A trader needs to fill in an application form to open one of the trading accounts, then employees of the company check his personal data, and only after that he will get a special keys table for his new account. Trading account is initially locked, and it is not difficult to unlock it. Traders should make a deposit, and they can begin to trade on the currency market. Opening of the trading account in the company usually lasts one day.

Trading account Mini:

- the minimum deposit is $1

- automatically regulated leverage is according to Safe Forex

- daily accrual of interest.

Trading account Standard:

- the minimum deposit is $50

- automatically regulated leverage is according to Safe Forex

- daily accrual of interest.

Forex indicators (recommended)

- Range Expansion Index

- Price Alert

- Executive

- Schaff Trend Cycle

- Trendwave Indicator.

Forex expert advisors (recommended)

- Otkat (an automated Forex expert advisor, developed especially for efficient trading on the exchange rate bands, i.e. opening and closing of transactions at the boundaries of these bands, giving it an opportunity to receive good profits)

- Progressor (a universal Forex expert advisor that has numerous settings, which makes it suitable for advanced traders, as it is necessary to set up appropriate parameters to trade profitably one or another currency pair)

- Binario (an automated Forex expert advisor that uses moving averages for analysis of the foreign exchange market, allowing it to find market entry points, and then close positions with profits in most cases).

Investments

Company Forexite is unable to provide its clients with investing in professional traders, which is usually performed using specialized MAM and PAMM systems. Since the company does not have them, the investment becomes difficult. Customers, who have decided to transfer their funds directly to the accounts of successful traders, bear the full responsibility for their actions, and in case of disagreement between them and traders, who have taken money in financial management, the company does not bear any responsibility.

Unique features

Provision of informers to webmasters and owners of sites related to Forex can be mentioned among unique opportunities of Forexite. Information about the situation on the currency market is regularly updated on them, and the latest news from the world of finance are published.

Two kinds of informers are provided:

- graphical

- dynamical.

Add/withdraw funds

Company Forexite provides customers with the following methods to deposit and withdraw funds from the trading accounts: Web Money, RBK Money, Paxum and bank transfers.

Contacts

Customers can get answers to all questions from employees of Forexite by email [email protected] (Secretary), by phone +1 718 663 0013 (dealing center) or by filling a special contact form on the website of the company and contacting the back office, Client Department, Analytical Department, Department of Automation.

Cons and pros

+ broker with plenty of experience

+ no minimum deposit

+ good leverage

+ many learning materials about the currency market

- no Forex bonuses

- no contests

- few ways to fund trading accounts.

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