Our EBH Forex Review
EBH Forex has a goal to make the trader successful through expertise and knowledge. The professional team of EBH Forex does not just help the registered traders by providing them essential tools and signals, but the team also ensures that the traders have unified comprehensive trading experience. EBH Forex is well-established since 2012. This platform is based in Bulgaria, but their professional team members are from all over the world.
The brokerage firm has technologically advanced resources, highly competitive spreads, and traders are allowed to deploy numerous forex market strategies. Therefore many traders choose EBH Forex for trading. Besides, the broker accepts four different currencies and globally works with traders. However, some regional constraints may apply.
Account types
EBH Forex offers the MetaTrader Pro account that is available on both MT4 and MT5. One of the unique features of the EBH Forex is that the quotes are down to points. The platform requires a minimum deposit of $100, and its spread starts from 0 pips. They also charge a commission of $3.50 per lot on each opening or closing transaction or $7 of a round-trip trade.
Opening an account
The account opening process is relatively long on the EBH Forex. You need to fill out the application, provide a copy of the identification card, and submit address documents. You need to verify this information through a video. You can confirm this information by calling the customer service team of EBH Forex via recorded video or video chat. After all this process, you can start trading with EBH Forex. EBH Forex also offers the option of opening an Islamic account.
Platforms
EBH Forex offers both MT4 (MetaTrader4) and MT5 (MetaTrader5) platforms to their traders, and these platforms are used for trading a vast range of forex CFDs, forex pairs, and other financial instruments. Traders can open a MetaTrader Pro account from the website of EBH Forex and download both versions of the platforms. However, traders need to understand that there is a difference between MT4 and MT5 trading platforms.
Both platforms have state-of-the-art and industry-leading features. Traders need to choose the right platform, which is best for their preference and strategy. MetaTrader4 platform provides the trader with news updates and a daily economic calendar, but fundamental analysis alerts are not as expanded as MetaTrader5’s.
Trade size
The minimum trade size is a thousand units of the base currency that is 0.01 lots. The platform is flexible, does not require maximum position, and it gives EBH Forex a competitive advantage over many other brokers. When you start losing money after entering a trade, the platform will notify you once the trade goes below the 100% margin requirement, and the dashboard highlights that trade in the red. After the 50% level, the platform automatically liquidates all the open position unless you close the trades or deposit some additional funds.
Assets
EBH Forex offers 40 different forex pairs and commodities (spot gold and spot silver) to the traders. Aside from the majors, EBH Forex gives traders access to like South African Rand and Mexican Peso. Spot metals are attached to the US Dollar, similarly as currencies are packaged in a pair. You can trade XAU/USD (gold) and XAU/USD (silver) through the MT platforms.
Minimum deposit, deposit methods, and costs
To open an account and start trading, you need $100. There are various methods to fund your account. As a default currency, you can set US Dollar, British Pound, Euro, Swiss Franc, or Bulgarian Lev. Deposit options include e-Payments, MasterCard, Astro Pay, Rapid, Neteller, SWIFT, Skrill, Paysafecard, Visa, and bank transfers. The process for bank transfers is done within three days, whereas the time taken to go through for other methods is not available on EBH Forex’s website. When you deposit funds, SWIFT bank transfers are free. E-Payment and Paysafecard will charge 1% and 10% of the transaction account, respectively. Concerning other methods, the brokers may charge a fee. You can get more information about these charges from the user account’s dashboard.
Withdrawal methods and costs
You can withdraw money only by e-Payment, Neteller, bank transfer, or Skrill. Fees are as follows: Neteller and Skrill charge 2% or 1% of the amount transferred. Per transaction, bank transfers cost $25/€15 (depending on your preferred currency). On the other hand, e-Payments cost nothing when you withdrawal funds. It is essential to note that your account default currency’s minimum withdrawal amount is 100 per transfer.
Withdrawal wait time & processing
Each withdrawal method has its own processing time that is different from the depositing time. Bank transfers can be processed within hours, but sometimes it can take five working days. Neteller and Skrill withdrawals take few hours during working days. Processing time can take up to 8.5 hours if transactions are made during weekends or holidays.
Customer service
You can contact EBH through email or phone number. Traders can also get to them by traditional mail or by visiting their office in Bulgaria, Sofia. You can also contact customer service by submitting a callback request, online chat to a live representative, or filling the “Contact Us” form on the broker’s website.
Email: [email protected]
Phone Number: +359 32571827 (Support for present account holders); +359 24374073 (General Question)
Demo account
EBH Forex offers a demo account with virtual money for the traders, and you can open a demo account through either MetaTrader4 or MetaTrader5 platform. Both platforms acquire the same margin calls, spreads, features, leverage, and access to instruments of the live account. The demo account will be expired if you stop using it for 60 days. However, traders can open up to 20 different demo accounts. You can also add more capital to your demo account after losing all the virtual money.
Conclusion
EBH Forex’s account holders can enjoy the minimum deposits and option to choose between MT4 and MT5 platforms, multiple transfer options, low spreads, automated trading signals, and upgrading to the “Professional Client” portfolio. This platform’s technological toolsets and services will not disappoint you if you are ready to tolerate transfer fees and commissions. You can minimize the commissions by participating in the EBH Forex’s rebate promotion.