ForecastEx Review

Welcome to the InGame ForecastEx review guide. A prediction market platform at heart, ForecastEx is a wholly-owned subsidiary of Interactive Brokers with ties to the popular Robinhood app.

This page will tell you all about how ForecastEx works, its derivative-based “contracts” business model, incentives for holding onto positions for longer than 30 days, plus its recent foray into NFL predictions.

What is ForecastEx?

ForecastEx is a prediction market app that allows players to buy, sell, and trade on a wide variety of global market events and political outcomes.

With its main office located in Chicago and corporate headquarters in the state of Delaware, you can participate in trades on ForecastEx from anywhere within the US.

Similar to other sites and apps that fall under the regulatory umbrella of the Commodity Futures Trading Commission (CFTC), ForecastEx offers predictions at a set price that pays out exactly $1 for each contract that has a successful outcome.

Individual contract prices can range from as low as $0.02 each all the way up to $0.99 – with lower prices representing perceived “underdogs” and higher per-contract prices existing as a “favorite” selection.

If you already have an account with Robinhood or Interactive Brokers, then you will already be familiar with how contracts on ForecastEx function.

ForecastEx new customer offer

ForecastEx does not have a new customer offer or promotion at this time.

Instead, the platform awards modest interest percentages on a monthly basis for trades that are held. 

Players are encouraged to hold onto some of their contracts and seek a long-term outcome, which works to provide a return on the collateral that is used for trades.

There is a possibility that, as ForecastEx expands into more sports prediction markets, it will offer a promotional bonus for new players, but none exists for now.

Signing up for ForecastEx

Signing up for ForecastEx is a simple and easy process. All you need is proof that you are at least 18 years old and located within the United States. Follow these steps to open a new ForecastEx account.

1. Navigate to the ForecastEx home page
2. To open an account, you will be redirected to a broker.
3. You can choose from Robinhood or Interactive Brokers
4. Follow the account creation process, entering all required info in the text fields.
5. You’ll then need to provide some personal information to prove that you meet the minimum age requirement and are located in a legal jurisdiction.
6. Once your new account application is approved, you can make an initial deposit and start trading.
7. The entire process takes between 3-5 minutes to complete if you already have you personal information uploaded and ready to submit.

ForecastEx review sports predictions

ForecastEx has recently expanded into sports prediction markets by offering NFL games and futures to customers who have an account.

Note that when I say “games” I’m referring to the extremely limited amount of wager types that ForecastEx currently offers.

You can only trade on the “Yes/No” outcome of the game (moneyline-equivalent). There are no options for other types of wagers, so you won’t be able to trade on point spreads, totals, or engage in parlay speculation.

ForecastEx sports predictions are, at this time, a bare-bones product that only offers NFL trades. You cannot trade on NBA, MLB, MLS, MMA, PGA, or collegiate outcomes – just NFL football.

For this reason, ForecastEx isn’t a viable option for players who want to trade on a vast array of sports and participate in multiple bet types.

When and if ForecastEx expands its sports prediction market product, we’ll update this page to let you know.

Is ForecastEx legit?

Yes, ForecastEx is legit, but you’ll need to open a Robinhood or Interactive Brokers account to use its online product.

Deposits and payouts are secure and you can begin trading immediately once your new account application has been approved.

Unfortunately, the brand doesn’t have its own app and you might be better off simply going to Robinhood or Interactive Brokers directly – which are the actual Futures Commission Merchants (FCMs) behind the brand.

ForecastEx versus Kalshi

ForecastEx doesn’t really compare with Kalshi in any way. As I’ve mentioned above, ForecastEx doesn’t have its own trading platform, but instead offers a limited number of markets and prediction types.

Our ForecastEx review found the real comparison is between the Robinhood app and Kalshi.

Robinhood is an all-encompassing platform that allows you to access and trade your predictions across multiple sites, including Kalshi.

Robinhood is convenient, streamlined, and very accessible for both new and veteran prediction market traders.

However, if you’re looking for more in-depth tools to track your trades, then you’ll want to open an account with Kalshi, as that platform is more trader friendly.

For more on Kalshi and Robinhood, check out our InGame Kalshi and Robinhood Prediction Markets review pages.

ForecastEx review mobile app

ForecastEx doesn’t have its own mobile app, but you’ll be able to download the dedicated Interactive Brokers and/or Robinhood apps directly from Google Play or the App Store.

Once you’ve installed one or both of these apps and have your account set up, you can easily navigate through existing prediction options, track your in-progress trades, and buy/sell contracts in real time as their prices evolve.

Available markets

Aside from NFL sports, you can use IBKR and Robinhood (once you’ve been re-directed from ForecastEx) to predict just about any major global or economic affairs outcome.

Everything from a country’s quarterly GDP and political elections to digital currency prices is available to you.

Once you’ve bought contracts, you can buy or sell up until the event has concluded or there is no longer another human being willing to accept your price.

ForecastEx review legal status and availability

ForecastEx and its affiliated brokers (IBKR and Robinhood) are available in all 50 states to traders who are at least 18 years of age.

However, the brand’s entry into sports-related prediction markets has attracted regulatory attention from lawmakers in multiple states.

The availability of ForecastEx may be blocked in at least a few states in upcoming months/years due to the sheer number of states that are moving against sports prediction market platforms.

ForecastEx pros and cons

There are both advantages and disadvantages to accessing the ForecastEx website and opening a Robinhood or IBKR account.

ForecastEx review conclusion

Until the ForecastEx brand becomes an actual Futures Commission Merchant (FCM), the brand is limited to being a virtual on-ramp to Robinhood and IBKR.

If you’re a sports prediction fan, there’s really no reason to bother with ForecastEx due to the fact that it only has NFL single game outcome markets at this time.

While an option to receive a monthly bonus from the platform exists, you’ll only receive a tiny percentage of the trades that you actually “hold” for longer than one month. 

There is no new player welcome bonus for ForecastEx customers. There are many better options available, and we recommend looking elsewhere if you’re interested in sports prediction markets.