Forex.com Review
Forex.com, a leading platform for trading, has created its own platformfor clients to gain access to the most popular currencies and other trading tools.
Broker: FOREX.COM
Official website: www.forex.com
Leverage: 1:40
Regulation: FCA, IIROC, ASIC, CFTC
Min. Deposit: 100US$
HQ: US
Platforms: MT4, MT5, FOREX.com platforms
Found In: 1999
Forex.com Licenses
GAIN Capital Holdings Inc - Authorizedby CFTC (USA).
GAIN Capital Holdings Inc is authorized by NFA (USA).
GAIN Capital UK Ltd. - Authorized by FCA UK (UK)registration number. 113942
GAIN Capital Canada Ltd. - Authorized by IIROC Canada (Canada) registration. (View the license).
GAIN Capital Australia Pty Ltd is authorized by ASIC Australia (Australia) registration number. ACN 141 774 727 727, AFSL 35646
GAIN Capital Japan Ltd. - Authorized by JFSA Japan (Japan).
GAIN Capital Singapore Pte Ltd is authorized by MAS (Singapore).
GAIN Global Markets Inc. is authorized by CIMA, Cayman Islandsregistration number. 25033
Overview
FOREX.com is a trading name is a part GAIN Capital Holdings Inc, a publicly traded company that offers online trading solutions. The company was founded in 1999 and supports customers in more than 180 countries. It has offices in New Jersey (USA), Canada, Hong Kong, Hong Kong, Australia and the UK.
Through years of success and global expansion, Gain Capital and Forex.com have achieved great results and international recognition. They also offer powerful trading solutions and continue to develop.
Pros
It is a trusted broker that is well-regulated
It has a parent company, GAIN Capital, listed in Stock
The account opening process is easy and digital
There are many markets and instruments available
There are many professional trading platforms that offer education and research.
Cons
Trading fees for Forex CFDs may be slightly more expensive, but they are still relatively low
Multi-currency accounts are not available
24/7 support are not available
Rating of the company overall
Reliability ⭐⭐⭐⭐⭐
Platform ⭐⭐⭐⭐⭐
Commissions ⭐⭐⭐⭐
Support ⭐⭐⭐⭐
Financial instruments ⭐⭐⭐⭐
RATING: 4.4
Awards
It is important to have and maintain a good reputation for trading brokers and financial firms. Forex.com proves this not only through thousands of accounts, but also by industry recognitions.
After 20 years of existenceand operation, the firm has received numerous reviews and global recognition. This includes "Best Broker in America", Shares Awards and Investment Awards. (See Best Forex Brokers In USA).
Forex.com is it safe?
FOREX.com is a reliable financial service provider. This is evident by the GAIN capital Holdings trading name. The company was incorporated in the USA according to the strictest laws.
Forex.com is also a part StoneX Group Inc. (NASDAQ : SNEX), a publicly traded company with strong corporate governance and financial reporting.
Forex.com is it legit?
Forex.com is a part international holding and has been subject to regulations from various authorities around the world, including CFTC(USA), CFTC(Canada), CFTC. (Singapore) and ASIC. Oanda is a CFTC regulated broker. Read our Oanda review. Fortrade is also regulated by IIROC and ASIC.
FOREX.com complies with all regulatory standards and requirements, and is required to provide safe and high-quality operations. The company ensures that all procedures are done in the most efficient and with data protection and funds safety. This allows the company to keep funds in separate accounts, execute secure online transactions, and perform executions.
Forex.com offers central counterparty clearing via OSCA to all clients as a standard.
Leverage
Leverage is a very popular tool widely used by brokers and traders to trade larger capital than the initial capital. Previously, brokers would award traders with high leverage ratios. However, the US regulation and the recent update by the European ESMA have set a limit to protect clients.
Forex.com's global regulatory and presence review has shown that the leverage ratios of traders will differ depending on their residence as well as the authorization account under which they are authorized.
The US clients can use a maximum of 1:40 leverage for Forex instruments.
European entities have a limit of 1:30.
Australian clients still may be able to leverage on Forex up until 1:400.
This limitation is made to limit possible losses. High leverage can also impose trades in the reverse direction. You and all traders should be smart about how you use leverage levels and how to properly do it for each instrument.
Types of accounts
FOREX.com offers three types of account. Standard with tight forex spreads, and the opportunity for automatic price improvement (when market moves in client's favor), savings are passed automatically. Commission account which offers additional benefits and has fixed commissions and extremely tight spreads.
The third account option is for high-volume traders. It's called Direct Market Access Account and allows you to have the most control. This account can only be opened through a proprietary platform. Professional traders should deposit at least 25k$ to get the best Forex.com conditions.
Fees
Be sure to check the correct fees for the account type that you select. The spreads for Standard accounts are charged as commission one, and the trading fee is charged per lot.
Non-Trading fees
It is important to note that FOREX.com also charges an inactivity feeof $15 per month if there has been no trading activity for 12 months or more. Accounts with more than 10,000 base currency are exempt.
Spread
Forex.com spread fees and trading fees are easy to understand. The costs are also very competitive compared to industry competitors.
Standard conditions can be based on FOREX.com. They offer both fixed and variable spreads depending on which market you want to trade. You also have the option to get cash rebates up to 15% to lower your costs. You can choose to trade with or without commissions. See below for a comparison of the typical spread on Standard Account. A commission account will again charge a $5 per 100k traded.
You can, for example, compare Forex.com's fees to its peer FBS.
Overnight Fee
Forex.com overnight Fee is an additional cost that should be consideredif you have an overnight or long-term position. Forex.com's swap fee is calculated using the percentage and interbank exchange rates. Each instrument defines the exact formula. Similar fees are calculated using the following formula: Forex.com EUR/USD overnight fees for buying position are -2.5%, and 2.5% for selling.
Trade Instruments
Forex.com's trading market selection is one of its greatest assets. This allows large financial institutions to get the best possible proposals. This includes more than 80 currency pairs, an average turnover of $5.1 trillion per day, and includes Bitcoin and Ethereum against USD and EUR, AUD and EUR with fixed spreads (and low margin), indices (with no stop-specific risk, spreads starting at 1 pt, and commodities (with zero margins and 1% commissions). The fixed spread broker list is available.
Indeed , trading cryptocurrencies and other pairs at Forex.com can be a satisfying process, due to fixed spreads. Low margin financing is also available. There is no need to create a virtual account.
Deposits and withdrawals
Understanding how money is transferred to and from trading accounts is another important term. Different jurisdictions have different money management rules. Forex.com offers specific conditions depending on the regulatory rules and entity.
Deposit Options
FOREX.com only offers a handful of payment methods. However, these methods are the most trusted and most popular.
Deposit Options are limited to bank transfers, credit/ debit cards and bank wire transfers. All payments are processed in one banking day.
What is the minimum deposit required for Forex.com accounts
Forex.com's minimum initial deposit is $100. However, it is recommended to deposit $2,500 in order to have flexibility and access to a wider range of instruments as well as better risk management.
Forex.com Minimum Deposit vs Other Brokers
Withdrawals
Forex.com offers many withdrawal options, including easy bank transfers, card payments and e-wallets. There are no fees on bank transfers or debit card deposits, and there are no charges to withdraw funds . This is a great addition to your overall money management.
Additional services offered by GAIN Capital Payments Ltd to clients are also available as part of GAIN Capital Payments Ltd. Forex.com offers priority and regular money transfers from the UK or FOREX.com account that allows for fast, secure, and easy online money transfers to over 200+ countries. You can find more information on the official website.
Trade Platforms
As we can see from Forex.com Review to the client, there are two options. These include a exclusive platformdesigned and maintained by Forex.com as well as mainstay on the industry software MT4 (also the most recent version MT5).
Forex.com reviews show that each platform has its own unique features to satisfy specific trading needs. These platforms offer powerful trading tools (70+ technical indicator and signals ) while offering instant or market execution. They also offer the ability to set user-defined prices.
Web Platform
Web trading platformoptimized to run at high speed and speed on all computers. It also combines numerous market analysis and tools. It is better to use a desktop platform instead of Web Platform for day trading and comprehensive strategy development, as Web Platform has very few tools.
Desktop Platform
A powerful trading platform designed specifically for active traders. It offers desktop viewing and a full set of customizable preferences, indicators features, charting tools, and many other useful features.
If you prefer to use MetaTrader4 the platform has been enhanced by integrated patternsoftware, and other highly developed trading tools. This is done using the market execution method. Platform offers the option to access MT4 via desktop, web, iPhone or Android apps.
Mobile Platform
Mobile trading - A powerful and complete trading platform that allows you to place multiple orders by hand, is a must-have for modern life.
Customer Support
We consider customer support services to be an integral part of brokers' proposals. We would say that it is quite high-quality and has been mentioned by the broker. Forex.com Customer Service is available to traders via chat, phone and email. They also cover support needs worldwide because of the brokers presence and coverage in major destinations.
Education
Forex.com is a site that focuses on professionals and beginning traders. It offers both education to help you build your trading confidence, as well as market analysis and the most recent updates to keep up with any changes or improvements.
Education Center offers trading concepts, technical analysis and trading strategies. It is available to beginner, intermediate, and advanced traders.
Conclusion
Forex.com is a leader in online trading and highly respected by many traders for its supreme integrity FOREX.com certainly worth attention. The solid financial backing provided by the large number of companies that support numerous regulations around the world, apart from highly regarded and respected international standing, GAIN Capital Holding which FOREX.com belongs to, is also a strong point. Many benefits in both the technical and operational aspects, including innovative broker functional tools. These tools are combined with excellent customer support that pillar traders, allowing them to trade with success while maintaining competitive pricing.