ForexTB: Online TradingGoogle Play
Our wallet review process
We examine wallets starting at the code level and continue all the way up to the finished app that lives on your device. Provided below is an outline of each of these steps along with security tips for you and general test results.
Application build test result
From the description:
Access the markets and trade CFDs on Forex pairs, Commodities, Stocks, Indices and Cryptocurrencies from your mobile phone. ForexTB offers over 300 assets, with easy control over open positions and setting Stop Loss & Take Profit levels.
The description also includes a “quick list” of the app’s features, but a bitcoin wallet is not included there.
From the Client Agreement (it is a PDF file and must be downloaded to view):
“Buy” shall mean a Transaction in a CFD that is opened by offering to buy a specific number of a certain Underlying Asset, and may also in our dealings with you in CFDs, be referred to as a “Long” or “Long Position”
We would like to point out that this app states, in its Google Play description, that it is meant for trading CFDs.
“Contract for Difference or CFD” shall mean the Financial Instrument which is a contract between the parties (typically described as “buyer” and “seller”), stipulating that the seller will pay to the buyer the difference between the current value of an Underlying Asset and its value at a future time; if the difference is negative, then the buyer pays instead to the seller.
Unfortunately, registration is not available in some countries. We were unable to access this app.
A CFD is a financial instrument that allows traders to speculate on an asset without actually owning the asset. The presence of CFDs imply an inability to send and receive bitcoins.
Tests performed by Daniel Andrei R. Garcia
Do your own research
In addition to reading our analysis, it is important to do your own checks. Before transferring any bitcoin to your wallet, look up reviews for the wallet you want to use. They should be easy to find. If they aren't, that itself is a reason to be extra careful.