|Found in: 1999||Regulation: FCA, IIROC, ASIC, CFTC|
|Headquarters: US||Min. Deposit: $50|
|Leverage: 1:40||Platforms: MT4, MT5, FOREX.com Platforms|
|Demo Account: Available||Customer Support: 24/5|
This company prides itself on its range of offerings, quality of service, and other achievements. To this day, it is the only US broker that makes details of its execution policy public. The forex.com is trusted by millions of traders around the world. Discover what attracts them in our review.
Geography and Regulation of Forex.com
Forex.com is a well-established global brand with a long history of success. It was founded in 2001 – almost two decades ago! A trademark of GAIN Capital UK Limited, a subsidiary of StoneX Group Inc., Forex.com is even listed on the New York Stock Exchange. This is something few brokers can boast. Moreover, according to Investopedia, it is the FX leader in the US in terms of customer funds.
The company’s headquarters are in London. It is authorized and overseen by the FCA (Financial Conduct Authority), the key regulator in the United Kingdom. Since 2004, the broker has been a registered FCM (Futures Commission Merchant) and RFED (Retail Foreign Exchange Dealer) with CFTC (Commodity Futures Trading Commission). Forex.com is also a member of the NFA (National Futures Association).
Range of Instruments
Generally, forex com offers a broad spectrum of financial instruments. You may trade over 80 currency pairs, CFDs, and futures across different assets. These include commodities, market indices, individual stocks, bonds, ETFs, gold, silver (without leverage), and crypto.
Traders from some regions have access to more instruments than their peers. For example, clients from the United States may trade spot forex, unleveraged gold/silver, and futures through the broker’s affiliate, FuturesOnline.
CFD Service. Your capital is at risk
- Bonus: Up-to $1000
- Pairs: 90+
- *Payout: 92.76%
* Amount to be credited only for a successful outcome.
Overview of Trading Technology
Fx com offers a combination of proprietary platforms for desktop and mobile use. These are designed to meet the needs of modern traders who expect enhanced convenience, flexibility, and performance. All three types may be used with the same account.
The desktop platform is an impressive package of advanced tools for analysis and trading. Users may customize the dashboards and preferences for trades. The sheer number of technical indicators is spectacular – 80+! Drawing tools and analytical capabilities are just as impressive. The system has integrated strategies. Clients may even choose from hundreds of in-built templates.
The web platform can be opened in any browser. Its key strengths are power, reliability, and speed. The terminal has trading tools, market commentary, and analysis. The range of technical indicators is broad – over 70. There are also 50+ drawing aids. Users have access to advanced charting features and smooth management of their accounts including deposits and withdrawals.
The company’s proprietary apps work on iOS and Android devices. These systems offer comprehensive functionality with a variety of order types. Users have instant access to relevant news, market analysis, and commentary. Real-time alerts mean they do not miss lucrative opportunities.
Aside from promoting its own software, the company allows the use of MetaTrader 4. Clients may work on any tablet, smartphone, laptop, or PC regardless of the operating system. The web-based version does not require any downloads at all.
There are three types of accounts: Standard, Commission, and STP Pro. The first two have a recommended deposit size of $1,000. Clients may use convenient resources like real-time trade signals, guidance from professional market strategists, and analytical insights from the in-house research team.
1. Standard Account
This account may be used either on the company’s own platform or on MetaTrader 4. It is best suited for clients who are more conventional and expect spread pricing. The costs are included in the spreads. Clients may also reduce their costs by up to 18% if they qualify for cash rebates.
2. Commission Account
This type is for proprietary platforms only. It provides an ECN-type experience: super-tight spreads and fixed commissions. For example, the spread on EUR/USD may be as low as 0.2 based on market conditions. The commission is $5 per $100,000 traded
3. STP Pro Account
Another account for the company’s software, STP Pro is designed for clients willing to deposit at least $25,000. They gain access to the tightest spreads from some of the world’s largest banks and liquidity providers. There is also a minimum trade size of $100,000.
The size of the commission depends on the monthly volume. For example, the service costs $60 per million USD if the volume is under $100 million. The broker also provides discounts for the following month based on the same criteria.
Clients can trade on margin, but the conditions vary based on region, market, asset class, and position size. Importantly, Europe-based retail traders have limited access to the arrangement as per the local regulators. Professionals can still access high leverage. The broker’s unique platforms feature a margin calculator.
Clients may contact the broker by phone or via live chat. As of this writing, the broker is experiencing high call volume, so traders are advised to use alternative means. The website has a comprehensive FAQ section and a special Service Updates page. The staff provides support around the clock between 10 a.m. Sunday and 5 p.m. Friday.
The company takes pride in its impressive list of achievements. The awards reflect recognition of its trading solutions and quality of service. This year’s additions are:
- Investment Trends UK Leverage Trading Report Awards for the Mobile Platform/App;
- Online Personal Wealth Awards as Best CFD FX Provider and Best Trading Analysis Provider;
- London Trader Show Award for Best Forex Trading Platform and Best Forex Provider of the year.
Conclusion of the Forex.com Review
This broker has been operating for almost two decades. Its key strengths today are the wide range of instruments and comprehensive technological solutions. Clients may work from any device, use strategy templates, and receive expert advice. Unlike most competitors in the niche, Forex.com provides access to the futures market through its US-based affiliate.
Competitive spreads, professional guidance, and a wealth of educational resources make Forex.com attractive for clients with any experience level. Its margin calculator facilitates leveraged trading, and the broker is open about all risks associated with it.
Conclusion Summary table
|Regulation and License||FCA, IIROC, ASIC, CFTC|
|Platforms||MT4, MT5, FOREX.com Platforms|
|Instruments||Currency pairs, Bitcoin and Ethereum, indices, shares and commodities|
|EUR/USD Spread||1.2 pips|
|Minimum deposit||50 USD|
|Base currencies||Various currencies available|
|Education||Learning materials and technical analysis|