Forex.com review

  • Broker Type: Market Maker

  • Leverage: 200:1

  • Regulation: FCA, IIROC, ASIC, CFTC

  • Min. Deposit: 50US$

  • HQ: US

  • Platforms: MT4, FOREX.com Platforms

  • Found in: 1999

Broker Licenses:

  • GAIN Capital UK Ltd - authorized by FCA (UK) registration no. 113942 
  • GAIN Capital Canada Ltd - authorized by IIROC (Canada) registration (view the license)
  • GAIN Capital Australia Pty Ltd - authorized by ASIC (Australia) registration no. 340255
  • GAIN Capital  Hong Kong Ltd - authorized by SFC (Hong Kong)
  • GAIN Capital  Hong Kong Ltd - authorized by CFTC (USA) 

Company Brief:

FOREX.com as a part of GAIN Capital Holdings Inc which is a publicly traded company, providing online trading solutions. Founded in 1999, the company today supports customers in over 180 countries with a global presence across North America, Europe and the Asia Pacific regions, provides offices, while headquartered in New Jersey (US), in Canada, UK, Hong Kong and Australia.

Throughout highly developed platforms, broker has developed its own platform for trading, which now is one of the best options, clients obtaining access to the world’s most popular currencies (over 80 currency pairs and average turnover of $5.1 trillion a day,  including Bitcoin and Ethereum against USD, AUD, EUR and GBP with fixed spreads and low margin) , indices, shares (without stop-specific risks, spreads from 1 pt) and commodities (with zero commission and 1% margins).

For about twenty years company presence firm did receive numerous reviews and global recognitions, really impressive number of awards and nominations, alike “Best Broker in the USA” 2009-2010, Shares Awards 2010, Investment Awards.

Forex.com review

Licenses, Regulations & Security of funds:

FOREX.com is a trading name of GAIN Capital UK Limited, principally the company incorporated in UK. GAIN Capital UK Ltd is authorized and regulated by the Financial Conduct Authority in the UK, with number 113942. Nevertheless, for the reason of global presence company withholds regulations by various regulative authorities worldwide IIROC (Canada), CFTC (USA), SFC (Hong Kong) and ASIC (Australia).

Consequently, FOREX.com complies with all necessary, strict regulatory requirements and standards, while obliged to provide safe and highest level of operations. Doubtless, the company keeps all procedures in a supreme way and including:  data protection, funds safety – entitling the company to hold funds in segregated accounts, secure online transactions and executions, etc. As well, company provides central counterparty clearing through OSCA as standard to all clients.

Trading Platforms and Tools:

There are two main choices offered by the company to the client while choosing a platform for trading. The company owns various platforms to meet a unique trading need of each trader, those platforms presenting powerful developed trading tools (70+ technical indicators) and signals while using instant or market execution, as well ability to set user defined price tolerance.

  • Advanced trading platform designed especially for active traders, offering desktop viewing with a full asset of customizable preferences, indicator features, powerful charting tools and many more.
  • Web trading platform optimized for high performance and speed on any computer, as well combining numerous integrated market analysis and tools
  • Mobile trading – is definitely “must have” with modern living, serves as a powerful, complete trading platform with multiple order types by hand

However, it is offered by the company also to use popular MetaTrader4 to practice trading. The platform has been enhanced with integrated pattern software and other highly developed trading tools, using market execution method. Of course, platform poses a choice to use MT4 via Desktop, Web or iPhone, Android apps.

Accounts at FOREX.com :

As for the trading accounts with FOREX.com, traders can’t enjoy a variety of account types, however, a standard trading account client will benefit from tight forex spreads and opportunity with automatic price improvement (when the market mover in the client’s favour, savings passed automatically). Another option is a corporate account which enables additional benefits and offers, which can be constantly checked.

FOREX.com offers both fixed and variable spreads, depending on the market you wish to trade. Commissions are not paid, as the most among the online brokers, however, CFD shares trading implies it.

In addition, platform showing great execution scores, as they have been the first broker to introduce the Execution Scorecards, 99,29% of trades executed in less than 1 second with average execution speed – 0.06 sec.The minimum initial deposit required for a standard account is at least $50, but there is a recommendation to deposit $2,500 to allow flexibility, full range of instruments and better risk management.

*Good to know that FOREX.com charges an inactivity fee of $15 (or equivalent) per month if there is no trading activity for a period of 12 months or more. Accounts with a balance of 10,000 base currency are an exception.

*Cryptocurrency Trading of Bitcoin & Ethereum been recently added to the trading tools of the FOREX.com. Available to trade pairs featuring most popular pairs against USD, AUD, EUR and GBP. The current offer allows speculation without taking ownership, to trade with leverage for both rising and falling markets while risk hedged. Trade of cryptocurrencies is a satisfaction process in the company owing to fixed spreads, low margin and competitive financing, as well there is no need to create a virtual wallet. But, cryptocurrency trading not available on MT4 platform.

Restricted Regions: FOREX.com products and services are not intended for Belgium residents. Contracts for Difference (CFDs) are not available to US residents. 

Deposits and Withdrawals:

FOREX.com offers just few payment methods, but anyhow those methods are most trustable and the most common ones. The set is limited to bank transfers and Credit/ Debit Cards. All payments are typically processed within one banking day. There are no charges or any fees on debit and credit card deposits or bank transfers, there are also no charges to withdraw funds.

In addition, as a part of GAIN Capital Payments Ltd, additional service offered to the clients, powered by a mother-company. Company offering priority and regular Money Transfers from the UK, or FOREX.com account featuring fast, easy and secure online money transfers to 200+ countries.

Unique features:

There are some interesting and indeed useful services offered by the broker and places their services out of the line:

  • Pulse of the markets. The global research team of specialists providing up-to-the-minute analysis and bringing trade ideas on the stock and index markets, by non-stop monitor of the New York, London and Asia sessions.
  • Trade Signals in real-time from experienced market professionals, including target entry price, stop level and the rationale for every trade from Faraday Research all day long. In fact, trade signals tool charge is 720$/ year, but clients can check it out in 45-day free trial attempt.
  • Market Strategist. Qualified market strategists of high level can work with client personally to develop a trading plan.
  • FX Rebate Programme. The client gets reward the more he trade while earning cash rebates on FX trade volume and obtaining the possibility to lower overall cost of trading.
  • Introducing brokers program and Partner programs are tailor-made and offering competitive collaboration with well reputable international company.

Conclusion:

As a global leader of online trade and highly regarded by numerous traders for supreme integrity FOREX.com is definitely worth attention for traders to partner with. Apart from well reputed and respected international standing of GAIN Holding, which FOREX.com is part of, solid financial backup proven by the vast number of companies behind.

Numerous benefits in both technical and operational parts, including innovated by broker functional tools, together with an excellent customer support pillar, customers getting comfortable conditions to maintain successful trade.

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