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General Information

Broker Name: Forex Birds
Broker Type: Forex
Country: Saint Vincent and the Grenadines
Operating since year: 2020
Regulation: FSA
Address: Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines
Broker status: Active
Customer Service
Phone: +44 7451 222 444
Email: [email protected]
Languages: ENG
Availability: 24/5
Trading
Trading platforms: MT4, WebTrader, MobileTrader
The Trading platform Time zone: GMT+2
Demo account: Yes
Mobile trading: Yes
Web-based trading: Yes
Bonuses: No
Other trading instruments: ?
Account
Minimum deposit ($): $100
Maximal leverage: 1:100
Spread: Variable
Scalping allowed: Yes

Forex Birds Review 2020

NOTICE: Broker seems not to be active right now.

Forex Birds Review

 

General Information

Forex Birds is a relatively new broker offering forex trading services. The company started operating in 2020 and is located at an offshore location at Saint Vincent and the Grenadines. Its exact address is Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont, Kingstown.

The broker raises some eyebrows as soon as you open up its website. The first thing you’ll notice is that some of the English on their pages is broken, indicating a sloppy translation job. Beyond that, you can also see that its webpages are slow to load, even if your internet is working fine. It looks like that’s due to an integrated loading screen on top of the normal loading page. Perhaps it was an attempt at smoothing out page transitions, but the result is quite sub-par.

So right off the bat, the broker gives an impression of carelessness. However, website slowness isn’t the end of the world, and the English, although slightly broken, is understandable. A quality service would be enough to override the issues and turn around our initial impression. Forex Birds, sadly, doesn’t fulfill that condition, as we’ll elaborate further in the review. Before we dig into that, let’s look at one much more significant issue regarding the website.

The information regarding the broker is vague at best and absent at worst. You can look to third parties to find out some of the things that you want to know, but you shouldn’t need to. Hiding info is the signature move of shady brokerages, as they aim to lure in underinformed traders with conditions that sound better than they are. As such, it’s not even entirely clear if the broker provides any non-forex services.

To give Forex Birds a fair shot, though, let’s look at what it presents as its main advantages:

 

Forex Birds

 

·         IB PROGRAM

The IB program, or introducing broker program, is a feature that might sound fine to some. Essentially, it’s a referral program that has you invite people to join Forex Birds and earn money that way. And although there’s nothing malicious about the nature of the program, it’s a method many scams use to lure in customers. The fact that it’s featured so prominently on the website’s home page only further solidifies those feelings of suspicion. As such, one of their main features only lowers the broker’s reputation in the eyes of more experienced traders.

·         MT4 PLATFORM

Using MetaTrader4 as a platform is a definite plus, as it’s among the most popular choices. However, ensuring that your customers can use MT4 takes minimal effort, and as such, it shouldn’t be taken as a crowning achievement. Prominently featuring the platform on your landing page demonstrates a poor service in other areas. The reasoning is simple; if you had something better to display, you would. It’s just another sign of the broker’s overall carelessness and disorganization.

·         ACCOUNT TYPING

Another prominent thing you can see on the Forex Birds’ landing page is its account typing. However, the info about them is heavily limited. Especially since all you can see is the cost, spreads, and the fact that there aren’t any commissions. You might say that it’s fine because there’s more detailed account info elsewhere, and the initial information just serves as an eye-catcher. But that’s the ridiculous part; even on their dedicated account page, there’s nothing else. As we said, brokerages obscuring information is never a good omen, and Forex Birds does that quite a lot.

Funds Trading and Security

As we already stated earlier in our Forex Birds review, its security is standing on shaky legs. That starts from the way the broker’s website is set up. There are a ton of unnecessary pages and a lot of looping, making searching for what you need to know frustrating. However, that seems to be the least of the broker’s issues, as there’s a solid chance you won’t find what you’re looking for at all. As we’ve stated multiple times, the fact that you need to dig through third-party sources is a red flag in itself.

But perhaps things would be fine if the rest of the security looked good. You could blame the website issues on poor design and hope someone will fix them sooner rather than later. However, you can’t ignore that the broker enjoys quite a poor reputation among its likely ex-customers. Many online comments are stating that the broker tried to drain their account, prevent withdrawals, and pull similar stunts. Even if you chalk some of those up to frustrated customers making things up, the report numbers lend them validity.

Lastly, you can also look at the broker’s location, which can be the final nail in the coffin. The firm is located at Saint Vincent and the Grenadines, a popular offshore spot for scam brokerages. Now, just because a firm operates from there doesn’t mean it’s a scam. There are plenty of valid brokerages working from St. Vincent with loads of satisfied customers. But when you combine the location with the previous things we mentioned, the picture really does look bleak.

Trading Accounts at Forex Birds

We touched on the broker’s trading account issues earlier in our Forex Birds review, but we’ll elaborate further. However, before we dig into their live accounts, we’d like to mention the non-functioning demo account button. The broker has a “Req for Demo” button in the top left corner, and pressing it does absolutely nothing. That may have been a web design issue rather than an intentional decision. But neither option paints the broker in a pretty light. So either the broker is trying to trick you, or it was sloppy enough to leave a crucial button broken.

 

Forex Birds

 

Moving on to the live accounts, they start at $100, which is less than a lot of brokers. However, that’s the only positive thing we can say about the typing, and it’s all downhill from there. First, there’s the issue we explained already, of the broker not disclosing information about the specifics of each account type.  The only things you can see are the spreads and the fact that they’re commission-free. We hope this goes without saying, but you shouldn’t invest in something without knowing what you’re getting out of it.

Additionally, even the spreads aren’t that good for the price. The priciest account will set you back $50,000, and with that, you’re getting spreads starting from 0,5 pips. That’s way below what some of the broker’s competitors offer. Another error we spotted, although it’s much less serious, is that the person holding the tablet on the account page image has the wrong price displayed for the ECN account. We wouldn’t have noticed, but the actual cost is just below it.

Trading Conditions

We don’t have much to say about the trading conditions at Forex Birds because most of them are a mystery. The spreads are relatively fair with the budget account, starting at 2.1 pips, but not worth the cost with the higher ones. Outside sources state that the max leverage is 1:100, which is laughable, but the broker doesn’t communicate that. Besides that, the poor security and information vagueness is enough of a reason not even to consider investing with Forex Birds.

The Trading Platform 

The trading platform is perhaps the only part of Forex Birds’ service that isn’t thoroughly underwhelming. The broker uses MetaTrader4, which is the preferred tool for most online traders. The platform is stable, reliable, and quick, with an easy to understand and simple to use interface. That, along with its analytical capabilities, makes it the perfect tool for traders of various skill levels. You can also use it via a browser or phone by employing the Web or Mobile traders.

 

Forex Birds

 

Forex Birds’ Trading Products

Forex Birds’ trading instrument catalog, like most things regarding its service, remains quite vague. From the name and their homepage, it’s clear that the broker offers forex trading, but we’re unsure if there’s anything else. If it only offers forex, that’s quite underwhelming as other modern brokerages nearly always offer more.

Customer Service

Forex Birds’ customer support is pretty standard, all things considered. The work time is the classic 24/5, and you can reach them via telephone, email, or the integrated live chat feature. However, the broker has set up multiple departments, and each has a different email. Some might find the slightly more specialized support nice, but we felt like it lengthened the issue resolution process.

Phone: +44 7451 222 444

Email:  [email protected]

contact

Forex Birds Review: Conclusion

If you’ve read the rest of our Forex Birds review, our opinion of the firm should be clear by now. Its security is lacking, and we lean towards calling it a straight-up scam. However, at least scams have the decency to try and lure you in. Forex Birds, on the other hand, seems like a hastily made mess.

With its lack of information about anything important, we suggest staying far away from the broker. Especially if it only offers forex trading. There are much better alternatives available.

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Comments Rating 4.82 (188 reviews)


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