alexa certify
156
General Information

Broker Name:FOREX.com
Broker Type:Forex Broker
Country:USA
Operating since Year:2001
Regulation: CIMA, 25033
Address:135 US Highway 202/206 Bedminster, New Jersey, 07921
Broker Status:Regulated
Customer Service
Phone: 1.908.315.0653
Email:[email protected]
Languages:English, Japanese
Availability:24/7
Trading
Trading Platforms:MT4, MT5, Web Trader, Mobile Trader
Trading Platform(s) Timezone:GMT +2
Demo Account:Yes
Mobile Trading:Yes
Web-based Trading:Yes
Bonuses:Yes
Other Trading Instruments:Currencies, Indices, Commodities, Stocks, Cryptocurrencies
Account
Minimum Deposit ($):50 USD
Maximum Leverage: (1:?) 1:400
Spread:Fixed, Variable
Scalping Allowed:Yes

Forex.com Review (2021 update): Is this a good Choice?

Review Contents:

  1. Introduction to forex.com review
  2. Regulation and safety
  3. Trading Products
  4. Forex.com Trading Platform
  5. Account types
  6. Active trader program
  7. Customer support
  8. Forex.com review summary
  9. Final Thoughts
  10. Last But Not Least

Introduction to Forex.com Broker Review

Forex.com’s website may appear to be less fancy than other online forex brokerages with flashy designs and complicated programming. But don’t get fooled by appearances. Forex.com has a lot of factors that other online brokerages would envy.

Forex.com Review: broker homepage

This broker is one of the biggest retail online forex and CFD brokers. Started in 2001, the broker allows traders to access more than 180 global markets, such as:

  • Stocks
  • Indices
  • Cryptocurrencies
  • Commodities

Aside from that, there’s a lot to learn and admire about Forex.com. Let’s dig deeper into this brand and see whether this may be the best broker you can use to trade. In this forex.com review, we will examine the most important aspects of trading with this broker.

Forex.com Review: Regulation and Safety

To get things started, let’s answer the nagging question in your head currently: is it safe to trade with Forex.com?

That’s easy to answer.

protection of customer funds - forex.com

Forex.com is a brand name of GAIN Capital. Those with experience in finance will know GAIN is a publicly listed company under the New York Stock Exchange.

This feature is a big plus-point for safety since the company must release financial statements regularly and transparently.

At the same time, the company is under the regulation of several financial authorities. Among them is the top-tier Financial Conduct Authority (FCA) in the United Kingdom. Moreover, in the United States, it’s under the watchful eyes of the US Commodity Futures Trading Commission (CFTC).

As for the funds, they are indifferent accounts (segregated). For traders, this means their funds will be safe even when the company stumbles upon financially hard times.

So, yes, without a doubt, this broker is safe.

Forex.com Review: Trading Products

Forex.com also has a wide selection of tradeable products from which traders can choose. We’re talking more than 4,500 trading products here, all with competitive pricing.

Forex.com: range of trading markets

Among the products you can trade are:

  • Forex
  • Indices
  • Shares
  • Commodities
  • Cryptocurrencies

The forex offering here is the crowning glory, apt since it’s called Forex.com. It offers super-low spreads, with the spread in EUR/USD coming as low as 0.8. Tight spreads are beneficial for active traders who don’t want to pay so much for every trade. They also make risk management simpler since they take less of your funds.

You can also trade the most popular equity indices around the world. Diversification becomes more manageable this way, broadening your trading opportunities.

And if you’re a fan of companies, you can also trade their shares. You have access to more than 4,500+ popular equities with tight spreads. You can even go long or short in the companies you choose.

trading products

If you want to go further and trade commodities like oil and precious metals, you have some options at Forex.com. You have options such as:

  • UK and US crude,
  • coffee,
  • cotton,
  • corn,
  • heating oil,
  • cocoa.

And lastly, if you want to trade crypto, but you don’t want to take actual ownership, Forex.com has you covered.

Our review of Forex.com found that the number of products you can trade with the broker is superb. Although other brokers may offer more choices, the assets from Forex.com are simply the best ones of the bunch.

Forex.com Review of Trading Platform

Having a properly working and efficient trading platform is extremely important for those who want to profit from the markets. Forex.com addresses this by offering superb trading platforms that come with advanced tools.

Forex.com trade global markets your way

Once you open a trading account with Forex.com, you get to choose from three ways of trading and trading platforms.

Advanced Trading

This choice is suitable for traders that need sophisticated trading features and analytic tools. You can customize the dashboard as well as access some extra features. You can trade preferences, use charting tools and technical indicators, and take advantage of great drawing tools.

Web Trading

If you want, you can trade using the web with the broker’s web trading offering. The platform focuses on “high performance, reliability, and speed across all browsers.”

You get to use the integrated trading tool as well as read market commentary and analysis. There are more than 70 technical indicators, 50 drawings tools, and more advanced charting features. Earlier in our Forex.com broker review, we emphasized the importance of that sort of functionality.

You can enjoy the full trading capabilities of the platform, get news, commentary, analysis, and receive real-time alerts and notifications.

MetaTrader 5

Now, those are just features of the bigger, better trading platform—the MT5.

Using MT5, you can trade multiple asset classes. That means you can trade forex, indices, shares, and other assets using only one account.

This feature of the MT5 provides you clear visibility of trading across different markets. This platform is available on the web or mobile devices, regardless of the operating system you’re using.

MetaTrader4

To review Forex.com, we had to look at its different branches. As such, we noticed that some had MetaTrader4 instead of MT5. The two have tons of similarities, although MT5 is slightly more modern. Choosing between the two comes down to a matter of preference.

mt5

 

Forex.com Account Types

Apart from the many choices in trading products and platforms, you also get to choose from three different account types.

Forex.com offers flexible account types. They are:

  • Standard Account

Clear, transparent pricing and superior trade executions

Opportunity to reduce costs by up to 15% with cash rebates

Sophisticated, state-of-the-art trading platforms

  • Commission Account

$5 commission per 100K traded

Exceptional quality trade executions

Powerful, state of the art trading platforms

Not available on MetaTrader

  • Direct Market Access Account

Trade on prices sourced from global banks and top tier liquidity providers – with no additional mark up

View multiple levels of real time pricing on FOREX.com’s order book

Split the spread, place orders within the top of book spreads

Not available on MetaTrader

 

The standard account is more suitable for traders who want the usual way of trading: spread pricing and currency trading. For those who prefer fixed commissions and tight spreads, the commission account is better. And for those who want maximum control in a high-volume market, the direct market access account is the best choice.

 

Active Trader Program

With the trading account, Forex.com also has the Active Trader Program, where high-volume traders can get cash rebates on trade. There are also other benefits, such as professional guidance from a market strategist. You also get reimbursement of any bank fees on all wire transfers.

Customer Support

You can get support via both phone calls and live chat on the broker webpage. The FAQ section is also available, along with service status updates that indicate the current state of platform pricing, etc.

Phone: 1.908.315.0653

Email: global.[email protected]

Research and Education

Market research and education offerings are also quite impressive.

Forex.com’s market analysis section lets traders keep abreast of the latest happenings in the market. It’s without a doubt a huge advantage for a trader to know what’s happening in real-time and without delay. Of course, it doesn’t come as daily news. Instead, the report is mixed with analysis and incisive commentary, letting traders draw up strategies and insights.

Education-wise, beginners will find it easy to navigate the market with ample knowledge after learning the fundamentals from Forex.com. The broker ensures that all traders under their brand are armed to the teeth with knowledge and wisdom. That will let them deal with the market correctly.

 

Forex.com Review Summary — Is it Good?

summary

For those who want reliability, efficiency, and safety, Forex.com sure ticks all the boxes. It’s a highly regulated broker, and it’s also owned by a publicly traded company, adding another layer of safety.

It sports user-friendly platforms that beginners will find pleasing if they’re just starting. There’s a lot of educational materials and research.

All in all, Forex.com is providing everything you need for forex trading, including:

  • Plenty of technical research tools,
  • Low forex fees,
  • Many currency pairs.

Moreover, the broker is delivering an excellent trading experience for CFDs and forex traders around the globe. Forex.com cater to traders of all experience levels as it offers:

  • Competitive pricing,
  • A robust mobile app,
  • Full-feature trading platforms,
  • Comprehensive market research.

In terms of the fees, they apply to any account with less than 10,000 US dollars and no trading activity for more than a year. They get charged a $15 inactivity fee per month. Besides, accounts with over 10,000 US dollars do not pay inactivity fees.

Although the broker offers several account types, pricing is transparent. For example, in one kind of account, traders pay the spread on every trade. Other types of accounts are charging a commission.

Besides, the range is smaller. The broker provides average spreads for all these types of accounts.

For MetaTrader platform users, EUR/USD typical spreads were 1.3 pips using October 2019 data from Forex.com. When comparing the broker’s US offering with its pricing available outside the US to the rest of the world, average spreads at FOREX.com only vary slightly.

 

Final Thoughts

FOREX.com is offering an Active Trader program with five tiers of pricing. Level one starts with 1.2 pip spreads on the EUR/USD pair for traders with a balance of 10,000+ USD.

As traders surpass specific MTD (month-to-date) trading volume thresholds, with each next level, spreads are further reduced. For instance, $500 million in MTD volume (level five) reduces it to 0.84 pips on the EUR/USD pair. Thus, after clients are rebated, spreads are effective.

Forex.com offers two desktop platforms, MetaTrader 4 and the Advanced Trading Platform. We tested the Advanced Trading Platform because it is the platform of Forex.com. Nonetheless, MT4 is a third-party platform.

As already said, it has the same functionality as the platform of web trading. For instance, you can use the same price alerts or order types. Besides, the platform design through desktop feels outdated. It is challenging to navigate the platform and feels it is too crammed with functions.

Sadly, the broker does not have a news feed. However, there is an available economic calendar. This can be considered an asset.

If you remember, we mentioned CFDs. Just in case you do not know, CFDs are complex instruments and are come with a high risk of losing money rapidly. This is due to leverage.

When trading CFDs with this provider, 69% of retail investor accounts lose their money. Thus, you must consider whether you know how CFDs work. Moreover, you must find if you can afford to take the high risk of losing your money.

There are also low trading fees and fast execution times. The advanced tools and flexible account types are also, without a doubt, going to appeal to even the most professional traders out there.

Last but not least:

Finally, Forex.com is a well-rounded online broker that’s able to serve any, if not all, types of traders. For beginners, it’s a good starting point. Moreover, it wouldn’t be a bad idea to grow into a professional and maintain your relationship with the broker.

We hope this forex.com review will help you make the right choice. Happy trading!

  • Support
  • Platform
  • Spread
  • Trading Instrument
Comments Rating 2.2 (156 reviews)

Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. If you are interested in following the latest news on the topic, please follow Finance Brokerage on Google News.



You might also like

156 Comments

  1. Marko Foerster July 27, 2021
  2. Florian Klein July 22, 2021
  3. Rachel Scorfield July 20, 2021
  4. Greta Alekseeva July 15, 2021
  5. Stephanie Lange July 13, 2021
  6. Proclus Ibrahimov July 8, 2021
  7. Lola Handfield July 6, 2021
  8. Katrin Faerber July 1, 2021
  9. Vadim Artemiev June 29, 2021
  10. Michael Finkel June 24, 2021
  11. Jana Kunze June 22, 2021
  12. Rodion Lavrov June 17, 2021
  13. Michael Hertz June 15, 2021
  14. Sara Reiniger June 10, 2021
  15. Ruby Jessep June 4, 2021
  16. Paul Peters May 27, 2021
  17. Tobias Sanger May 25, 2021
  18. Amanda Tucker May 24, 2021
  19. Stephanie Osterhagen May 24, 2021
  20. Ivan May 24, 2021
  21. Muse Frolova May 20, 2021
  22. Molly Beach May 18, 2021
  23. Marcus Miller May 14, 2021
  24. Marko Schmitt May 13, 2021
  25. Karin Mahler May 11, 2021
  26. Stéphanie Corbeil May 6, 2021
  27. Belisarda Vertefeuille May 4, 2021
  28. Sienna Veitch April 29, 2021
  29. Mathias Sanger April 27, 2021
  30. Terence Bobrov April 22, 2021
  31. Yaroslav Kryukova April 20, 2021
  32. Kristian Wagner April 15, 2021
  33. Gerasimos Efimov April 13, 2021
  34. Taylah Hampton April 8, 2021
  35. Alexander Moeller April 6, 2021
  36. Sophia Frei April 1, 2021
  37. Tom Eberhart March 30, 2021
  38. Suzie March 29, 2021
  39. Natalie Fiveash March 25, 2021
  40. Stephanie Schmitz March 23, 2021
  41. Jacqueline Dupont March 18, 2021
  42. Will Collins March 16, 2021
  43. Peter Ermakov March 9, 2021
  44. David Garratt March 4, 2021
  45. Noël Mailly March 2, 2021
  46. Jasper Rayment February 25, 2021
  47. Kathrin Schulz February 23, 2021
  48. Muse Kovalyova February 18, 2021
  49. Max Burger February 16, 2021
  50. Ana Lima Silva February 11, 2021
  51. Swen Nadel February 9, 2021
  52. Valerie Aksenov February 4, 2021
  53. Matthias Goldschmidt February 2, 2021
  54. Proclus Lazarev January 28, 2021
  55. Lucinda Mahomet January 26, 2021
  56. Mitchell Perkin January 21, 2021
  57. Steffen Dresner January 19, 2021
  58. Kerman Corbeil January 14, 2021
  59. Gallia Chassé January 12, 2021
  60. Aubrette Marier January 7, 2021
  61. Annabelle Laffer January 5, 2021
  62. Alain Aliyeva December 29, 2020
  63. Nicholas Ailleboust December 23, 2020
  64. Olympics Ibrahimova December 21, 2020
  65. Gennady Zaitsev December 17, 2020
  66. Agnes Avdeyeva December 15, 2020
  67. Mario Mayer December 10, 2020
  68. Daniel Denisov December 8, 2020
  69. Jana Kruger December 1, 2020
  70. Christina Meier November 26, 2020
  71. Sebastian Mueller November 24, 2020
  72. Eglantine Du Trieux November 19, 2020
  73. Thomas Jaeger November 17, 2020
  74. Gabrielle Busque November 13, 2020
  75. Ralph Kohler November 10, 2020
  76. Dylan Hayes-Williams November 5, 2020
  77. Ralph Grunewald November 3, 2020
  78. Petra Lehmann October 27, 2020
  79. Ignat Azarov October 23, 2020
  80. Dielle Giroux October 21, 2020
  81. Igor Tikhonov October 15, 2020
  82. Gayane Medvedeva October 14, 2020
  83. Dieter Eisenhauer October 9, 2020
  84. Vitaly Galkina October 7, 2020
  85. Liam Wenz October 2, 2020
  86. Markus Fried September 30, 2020
  87. Frank Strauss September 25, 2020
  88. Nadine Amsel September 23, 2020
  89. Gabrielle Weston September 16, 2020
  90. Paige Albiston September 11, 2020
  91. Isabel Yip September 9, 2020
  92. Kara Cunningham September 4, 2020
  93. Milla Mullen September 2, 2020
  94. Arkhip Sidorov August 21, 2020
  95. Peter Werner August 14, 2020
  96. Arthur Abramovich August 7, 2020
  97. Polycarp Vassiliev August 5, 2020
  98. Declan Delamothe July 31, 2020
  99. Leonid Baryshnikov July 29, 2020
  100. Henry Bracegirdle July 24, 2020
  101. Leopold Pokrovskii July 22, 2020
  102. Maddison Rosenhain July 17, 2020
  103. Annabelle Sidaway July 15, 2020
  104. Gabriele Hartmann July 10, 2020
  105. Sabine Theiss July 8, 2020
  106. Ulrich Strauss July 3, 2020
  107. Beau Galleghan July 1, 2020
  108. Marko Faerber June 26, 2020
  109. Hippolyte Zuyev June 24, 2020
  110. Maximilian Wirtz June 19, 2020
  111. Hope Ozerova June 17, 2020
  112. William Illingworth June 12, 2020
  113. Sébastien Bourgeois June 10, 2020
  114. Matthias Gaertner June 5, 2020
  115. Jana Ackermann June 3, 2020
  116. Maddison Lassetter May 29, 2020
  117. Alicia Henning May 27, 2020
  118. Gemma Newbigin May 22, 2020
  119. Norris Metivier May 20, 2020
  120. Patrick C. Taylor May 15, 2020
  121. Homer M. Slusher May 13, 2020
  122. Ernest Arnoux May 8, 2020
  123. Leila Costa Melo May 6, 2020
  124. Arno Lalonde May 1, 2020
  125. Nicolash Melo Carvalho April 29, 2020
  126. Amorette Lagacé April 24, 2020
  127. Garland Bérard April 22, 2020
  128. Marshall Rochefort April 17, 2020
  129. Vasilisa Alexeeva April 15, 2020
  130. Anton Kovalev April 9, 2020
  131. Gabrielly Castro Carvalho April 7, 2020
  132. Barry Jomphe April 3, 2020
  133. Vitória Goncalves Silva April 1, 2020
  134. Charli Krichauff March 27, 2020
  135. Carla Silva Costa March 24, 2020
  136. Zoe Reay March 20, 2020
  137. Ulrich Klug March 18, 2020
  138. Aaron Horton March 13, 2020
  139. Eduarda Ferreira Araujo March 10, 2020
  140. Eve Mort March 6, 2020
  141. Sebastian Bumgarner March 4, 2020
  142. Bayard Lamoureux February 26, 2020
  143. Lola Whitington February 19, 2020
  144. Vitoria Melo Alves February 11, 2020
  145. Mandel Bienvenue February 10, 2020
  146. Daniel Achen February 6, 2020
  147. Mario Propst February 4, 2020
  148. Alphonse Gauvin January 30, 2020
  149. Nathan Gell January 28, 2020
  150. Martim Alves Cunha January 24, 2020
  151. Stephanie Kneeshaw January 22, 2020
  152. Dieter Zimmerman January 20, 2020
  153. Lucas Leggatt January 16, 2020
  154. Tikhon Kapustin January 15, 2020
  155. Anna Eiffel January 14, 2020
  156. Kaua Rodrigues Cardoso January 13, 2020

Leave a Reply

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spread
    Sending
  • Trading Instrument
    Sending

Subscribe to Our Newsletters

Have the best of Finance Brokerage News delivered directly to your mailbox. Subscribe now to receive the latest market news.



Financebrokerage