FOREX.com as a trading name and 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, Forex.com has developed its own platform for trading, which now is one of the best options, as clients obtaining access to the world’s most popular currencies and other trading instruments.
Overall, through the years of successful operation and its global spread, Gain Capital and its one of the brads Forex.com obtained great results and world recognition, also through the powerful trading solutions, they offer and constantly develop.
Very well established parent company, globally recognized
No multi-currency accounts
Sharp adherence to regulation and good standing
Professional trading environment and investment in innovation
Great range of Market instrument including Cryptocurrencies
Proposal suitable for beginners and Professionals
Based on MetaTrader and proprietary technology
10 Points Summary
🗺️ Regulation and License
FCA, IIROC, ASIC, CFTC
MT4, MT5, FOREX.com Platforms
Currency pairs, Bitcoin and Ethereum, indices, shares and commodities
💰 EUR/USD Spread
🎮 Demo Account
💳 Minimum deposit
💰 Base currencies
Various currencies available
Learning materials and technical analysis
☎ Customer Support
For financial firms and trading brokers, it is crucial to obtain and keep good reputation, while Forex.com confirms its status not only by thousands of accounts they operate but through industry recognitions as well.
For about twenty years of presence and operation firm receive numerous reviews and global recognition, a really impressive number of awards and nominations, alike “Best Broker in the USA”, Shares Awards, Investment Awards, etc.
Is Forex.com safe or a scam?
FOREX.com is definitely a trusted financial service provider, as the trading name used by the GAIN Capital Holdings, principally the company incorporated in the US according to all the strictest laws and requirements.
In addition, Forex.com is a part of StoneX Group Inc. (NASDAQ: SNEX) publicly-traded company with strong corporate governance, financial reporting and industry lead.
Listed on Stock Exchange
Part of world publicly traded company
Segregated Accounts and annual reports
Cross border offering including globally regulated entities
Negative Balance Protection
Is Forex.com legit?
For the reason of global presence and truly wide operation in world financial centers, Forex.com being a part of international holding withholds regulations by various regulative authorities worldwide which includes IIROC (Canada),CFTC (USA),MAS (Singapore)and ASIC (Australia).
Authorized by CIMA (Cayman Islands) registration no. 25033
Consequently, FOREX.com indeed complies with necessary, strict regulatory requirements and standards, while obliged to provide the 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, Forex.com provides central counterparty clearing through OSCA as standard to all clients.
Leverage as a popular tool widely used by the brokers and traders allows trading of larger capital compared to the initial capital. Previously brokers generously awarded trader by high leverage ratios, yet the US regulation and recent update from the European ESMA set a limited maximum in order to protect clients.
Therefore, again concerning Forex.com review of global regulation and presence, the leverage ratios will vary according to the trader’s residence, as well as under which authorization account is open.
The US clients may use a max of 1:40 leverage to Forex instruments,
That limitation is done with a purpose to limit potential losses, as high leverage may impose trades quickly in reverse as well. Thus, you and any trader should use leverage levels smartly and learn how to do it correctly for a particular instrument.
So getting to the trading proposal itself, there are several account types offered so the trader either of a beginning or professional level can choose the most suitable option according to the trading style.
Fast digital account opening
Three Account Types for Live Trading
Standard Account, Commission
Account and High-Volume trading account
Practice Demo Account
As for the trading accounts with FOREX.com, traders can choose appropriate one either from a Standard Account and benefit from tight forex spreads and opportunity with automatic price improvement (when the market mover in the client’s favor, savings passed automatically).
Another option is a Commission Account which enables additional benefits and offers with ultra-tight spreads and fixed commissions.
Lastly, the third account option designed specifically for high-volume traders and named Direct Market Access Account where the maximum of the control is applied. This account is available only through a proprietary platform and recommended for a minimum of 25k$ deposit, so the professional traders can benefit from superior conditions Forex.com provides.
Concerning about the fee structure, be sure you check correct conditions according to the account type you choose. Alike, Standard account based on spreads, while commission one is charged trading fee as a commission per lot.
Selection between spread only or commission fee structure
Inactivity fee 15$
Low Forex fees
Low Commission for Commission account
Transparent fee structure
No hidden costs
Our find on Forex fees
All in all, considering Forex.com charges and trading fees, we found its fee structure simple to understand, where the costs are rather competitive and low compared to the industry competition.
Standard conditions are based either on FOREX.com offers both fixed and variable spreads, depending on the market you wish to trade, along with an opportunity to reduce costs by up to 15% with cash rebates.
Therefore, you may choose the suitable option and engage into trading with or without commissions, see below comparison of typical spread on Standard Account, while commission account again will charge a fee of 5$ per 100k traded.
For instance, you can compare Forex.com fees with its peer Plus500.
Comparison between Forex.com fees and similar brokers
Crude Oil WTI
Forex.com overnight fee is an additional cost, which should be considered in case you hold overnight or long position. The swap fee of the Forex.com is calculated by the percentage along with interbank exchange rates, which is defined by each instrument separately. Alike calculated by the formula as e.g. Forex.com EUR/USD overnight fee for buying position is -2.5% and 2.5% for selling.
Non Trading fees
Good to know that also 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.
One of the greatest things in Forex.com is its trading market range, as being a huge financial institution client getting some of the best available proposals. Which includes over 80 currency pairs and an average turnover of $5.1 trillion a day, including Bitcoin and Ethereum against USD, AUD, EUR and GBP with fixed spreads and low margin), indices, shares (without stop-specific risks, spreads from 1 pt) and commodities (with zero commission and 1% margins).
Indeed, trade of cryptocurrencies and other pairs at Forex.com is a satisfaction process, as firm owing to fixed spreads, low margin and competitive financing, as well there is no need to create a virtual wallet.
Deposits and Withdrawals
Another crucial term is to understand how to transfer money to or from the trading accounts, as various jurisdictions and contuses apply different rules towards money management. Likewise, Forex.com will offer particular conditions according to the entity and regulatory rules.
Fast digital deposits
Deposit fee may be applicable
Small first deposit
Deposits options are limited
Supporting Various Account Base Currencies
0$ free withdrawal
FOREX.com offers just a few payment methods, but anyhow those methods are most trustable and the most common ones.
The Deposit Options set is limited to bank transfers and Credit/ Debit Cards. All payments are typically processed within one banking day.
What is the minimum deposit for Forex.com accounts?
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, a full range of instruments and better risk management.
There are no charges or any fees on debit and credit card deposits or bank transfers, there are also no charges to withdraw funds, which is indeed a pleasant addition to overall money management.
In addition, as a part of GAIN Capital Payments Ltd additional services powered by a mother-company are offered to the clients. Forex.com offering priority and regular Money Transfers from the UK, or FOREX.com account featuring fast, easy and secure online money transfers to 200+ countries, you can check more details through the official website.
There are two main choices offered as we see via Forex.com Review to the client, which goes to the option of a proprietary platform designed by Forex.com or mainstay on popular industry software MT4, also the latest version MT5.
The Forex.com review shows its own various platforms to meet unique trading needs and satisfy particular solutions, 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.
User friendly trading software
MT4, MT5 and proprietary Platforms
Web, Mobile and Desktop platforms
Technical analysis and no limitation on strategies
Suitable for beginners and professional traders
Supporting various languages
Web trading platform optimized for high performance and speed on any computer, as well combining numerous integrated market analysis and tools. Yet, could be better to use a desktop platform for day trading and comprehensive strategies, since Web Platform is rather limited in its available tools.
An 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.
In case you would choose to use known MetaTrader4, the platform has also been enhanced with integrated pattern software and other highly developed trading tools, using the market execution method. And of course, platform poses a choice to use MT4 via Desktop, Web or iPhone, Android apps.
Mobile trading – is definitely “must have” with modern living, serves as a powerful, complete trading platform with multiple order types by hand
Considering customer support services, as an important part of the brokers’ proposal, we would say it is at the quite god level and is proud strengths as broker mention by himself. Forex.com Customer Service available for traders via phone lines, chat and emails also covering support need worldwide due to brokers presence and coverage of major destinations and including.
Quick response within working hours
No 24/7 customer support
Live Chat, Phones supported
Contact Form online
Since Forex.com focuses on both beginning traders and professionals as well, it does provide both Education that designed to build trading confidence and knowledge, and market analysis with latest updates to keep you on track with the improvements or changes.
Education Center provides trading concepts, technical analysis, fundamental analgises, trading strategies and trading courses available for beginner, intermediate and advanced traders. Along with that, Forex.com runs regularly Webinars, and updates with Trading News and research materials covering popular and unique points.
Learning Center with advanced and professional education materials
Education Courses for beginners, intermediate traders and advanced
As a global leader of online trade and highly regarded by numerous traders for supreme integrity FOREX.com definitely worth attention for traders to partner with. Apart from well-reputed and respected international standing of GAIN Capital Holding, which FOREX.com is part of, solid financial backup proven by the vast number of companies behind along numerous regulations worldwide.
Numerous benefits in both technical and operational parts, including innovated by broker functional tools, together with an excellent customer support pillar traders getting comfortable conditions to maintain successful trade along with quite competitive pricing.
Also, it will be great to know your personal opinion about Forex.com, you may share your thoughts in the comment area below or ask for additional info.
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