FOREX.com Review

Forex.com is one of the largest CFDs brokers on the market. It is a reliable brand that provides a great trading experience for forex and CFD traders worldwide.

This online broker provides professional trading on the exchange and OTC markets; it offers a wide range of needs and provides an extensive set of proprietary platforms. We prepared this Forex.com review to provide honest feedback and share our trading experience with this broker. Are you based in Europe or the US and looking for a reliable trading platform to invest in crypto and traditional markets? Do you want to know if Forex.com scam or legit? And what are the pros and cons of trading with this online broker? If the answer is yes, then please read this Forex.com review further to find out. 

In this Article show

Forex.com Review – ABOUT THE COMPANY

Let’s start our Forex.com review from the broker’s submission. Founded in 1999, Forex.com is a brand and the company’s largest retail forex website GAIN Capital Holdings, Inc., under the parent company StoneX Group (NASDAQ: SNEX) of the Fortune 500 list. The broker is a so-called “Market Maker” type.

Forex.com also offers white label solutions for dozens of online companies trading on the Forex market, most of which serve the global market.

forex-com review best online broker

FOREX.com CFD Broker Logo

? Global Market Leader
? Professional Accounts
? Award-winning
?? US Client ALLOWED

Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

The broker is regulated by the Cayman Islands Monetary Authority and provides trading services. It carries out currency transactions through GAIN Capital UK Ltd, a subsidiary controlled by the UK Special Financial Services Authority (FCA).

Forex.com has four representative offices: American (Forex.com Corporate Headquarters), Canadian (Forex.com Canada Limited), British (Forex.com UK Limited) and Japanese (GAIN Capital Japan Co., Ltd). As a result, traders from Singapore, Vietnam, Russia, China, Indonesia, India and many other countries can safely trade with Forex.com.

Forex.com broker serves customers and operates in more than 140 countries, and has branches in Australia, Canada, Hong Kong, Japan and US. Now Forex.com is one of the most popular brokers in the world.

Being one of the pioneers in online Forex trading in the United States, Forex.com remains one of the largest global retail currency brokers, with a client capital of more than $3.9 billion.

At the time of writing this Forex.com, the platform was available in Windows and Mac versions, a web version (trading in the browser), and a mobile app for iOS and Android.

The official site interface Forex.com is intuitive, and all options are divided into sections. For example, clients are invited to test trading platforms using a risk-free Demo Account and Open an Account on the site. And the company’s website, you can also talk about getting acquainted with the types of orders available on a particular platform get acquainted with valuable materials in the Education section.

Since forex trading involves many risks, beginners are advised to contact an independent expert of the site for free advice. In addition, you can get to the technical department by email, hotline, or online chat.

Forex.com Review – KEY INFORMATION

The company Forex.com  provides retail and institutional investors with market access and transaction execution services in the following areas: in a foreign currency, contracts for difference (CFDs) and exchange-traded products.

Broker Forex.com the emphasis is placed on providing services with maximum coverage of trading assets. Forex.com, through its technology, Forex Direct provides a direct trading service at prices from global banks and liquidity providers. In addition, access to exchange markets is provided. The capital increase allows retail and institutional clients to speculate on the global currency markets through so-called “margin trading on the Forex market”.

Trading is carried out using one of two options: electronic trading platforms, own proprietary platform (author’s terminal with trading platform options ForexTrader PRO, ForexTrader.java, ForexTrader.web) or MetaTrader 4.5. In addition, mobile versions of the Forex.com platforms are also available, ensuring comfortable trading and allowing you always to be aware of the market situation and respond to events quickly. There is a large number of positive Forex.com reviews from beginner and professional investors who use this trading platform on a daily basis. 

forex-com review awards

Here are some key figures that we want to highlight in this Forex.com review. It may be interesting to readers of this Forex.com review and valuable for traders: 

  • 180+ Global markets;
  • Regions: USA, UK, Canada, Japan, China + more than 100 other countries;
  • 84 currency units couples;
  • 4 payment methods: payment cards, PayPal, bank transfer, WebMoney;
  • 6 account currencies: EUR, GBP, USD, AUD, CHF, JPY;
  • Demo account: $50,000 risk-free for 30 days with full access to tools and resources;
  • average order execution speed: 0.04 ms;
  • customer biography: Forex.com is a broker focused on US residents. More than half of its customers (54%) are citizens of the United States (note, what CFDs and cryptocurrencies are not available for US residents citizens of Canada, the United Kingdom, Japan, and the United Arab Emirates are 8, 6, 3, and 1%. The share of Americans in the customer base is gradually decreasing, which can be regarded as an expansion of Forex.com to the markets of other countries;

The broker supports margin trading. Leverage is set based on the platform used, funds used, and order types.

The broker does not provide additional fees for deposits. However, the payment system can charge commissions. USD, EUR, and GBP are used for the transfer. Bank transfer processing time is 1-2 business days. Deposits from the card are credited instantly.

Beginners and traders trying out strategies can open a free demo account and make currency transactions on Forex com in demo mode without the risk of losing your deposit.

Technical support 

Forex.com is multilingual, responsive, and up-to-date. All types of trading are available on the platform and professional advice, training, and arbitration of investors.

FOREX.com CFD Broker Logo

? Global Market Leader
? Professional Accounts
? Award-winning
?? US Client ALLOWED

Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

IS FOREX.COM A SCAM OR LEGIT?

Since Forex.com is a part of GAIN Capital Holdings, it is considered low-risk, with an overall confidence score of 99 out of 99 based on multiple Forex.com reviews conducted among the professional traders’ community.

Broker Forex.com is publicly traded, does not operate a bank, and is authorized by four Tier 1 (high trust) regulators, one Tier 2 (medium trust) regulator, and one Tier 3 (low trust) regulator. So, level 1 regulatory authorities include Canadian Investment Industry Regulatory Organization (IIROC), Japan Financial Services Authority (JFSA), Financial Conduct Authority (FCA) and Commission for Commodity Futures Trading (CFTC).

A high level of regulation brings apparent benefits for the broker’s clients, such as financial compensation in the event of insolvency Forex.com (thanks to FCA regulation).

As we noted earlier in the Forex.com review, the Forex.com domain is owned by Gain Capital, an American online trading service provider headquartered in Bedminster, New Jersey. Company it was founded in 1999. It went public in 2010 and lists on the New York Stock Exchange (NYSE: GCAP).

GAIN Capital serves more than 200,000 clients. They come from more than 140 countries worldwide and earn more than half of their income outside the United States. Her total assets – $1.288 billion; total customer capital – $849.8 million; liquidity – $193.2 million; minimum regulatory capital – $104 million rubles. In 2020, GAIN Capital will implement an average daily volume of $8.1 billion for its retail customers.

These indicators are important because they should eliminate concerns about hypothetical fraud. Financial transparency allows the broker’s clients Forex.com to ensure that the company has a good capitalization and is managed by competent management. It should pay particular attention to Forex.com, a registered and reliable business structure with many years of experience in the market.  

Most recently, GAIN Capital started offering Bitcoin in the form of CFDs in its UK company and Bitcoin futures through its US subsidiary to meet the growing demand for cryptocurrencies.

And in 2020, it was purchased a larger financial structure StoneX (100th place in the Fortune 500 list), serving almost 300,000 customers worldwide.

StoneX (formerly known as INTL FCStone) is an institutional-level financial services network that connects companies, organizations, traders and investors to the ecosystem of global markets through a unique combination of digital platforms, comprehensive clearing and execution services, high-end service and deep expertise.

StoneX, through its trade names and subsidiaries, provides institutional access to 39 derivatives exchanges, 175 foreign exchange markets, almost every global securities market and many two-way liquidity platforms, and access to the retail market through Forex.com and CityIndex. It allows StoneX clients to leverage the ecosystem of global markets to achieve their business, trading and investment goals through one reliable partner.

As of August 2021, the company holds assets of $10.9 billion, with excess regulatory capital amounting to $198 million.

So, speaking of transparency, we can say that Forex.com – is a unique broker because two public companies manage it with open reporting on the composition of shareholders, income and profits, etc.

Broker strictly follows all the rules and recommendations established by Regulators, and clients’ funds are kept in separate accounts with first-tier banks. In addition, the broker’s system Forex.com automatically determines whether the site user belongs to the country, as much security depends on the jurisdiction in which the account is opened.

Security guarantee: Broker Forex.com, as already noted in the Forex.com review, is a part of GAIN Capital Holdings Financial Group. With its more than 10-year reputation, it is responsible for implementing Forex.com your obligations to your customers.

Forex.com Review – REGISTRATION. VERIFICATION. START OF TRADING

We think that readers of this Forex.com review (future clients of the broker) will be able to usefully apply the practical recommendations set out below for registering and opening real accounts on the site Forex.com. 

forex-com review open an account

FOREX.com CFD Broker Logo

? Global Market Leader
? Professional Accounts
? Award-winning
?? US Client ALLOWED

Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Registration and verification

Profiles clients there can be individual and corporate forms. To complete the latter, you must apply as we are going to show you in this Forex.com review.

You are offered the following types of accounts:  

  • demo account (completely free, valid for one month, available on platforms Forex.com and Meta Trader 5);
  • standard (low spreads without additional commissions; option with a basic set of trading tools for experienced players);
  • commission fee (spreads 0.02; fixed percentage of $5 for each $100,000; not available on the MetaTrader platform); DMA profile with direct access to the market (balance-from $25,000; minimum trade — $100,000; not available with MetaTrader).
  • to start trading on Forex.com, you need to open the most suitable account for you in terms of its parameters. And before opening an account, you must register.

To register, you need to fill out a particular form. Enter your full name, birth’s date, country of residence, email address, mobile phone number, and password.

Registration takes place in 4 stages.

Account Identification

  • To verify the profile, the client documents their identity (passport or driver’s license photo), place of residence (utility bill statements no older than six months), and source of income (bank or card statements). After the system processes the data, the following email address is sent to the specified email address: notification forming;
  • Each trader is assigned an individual account number, platform user ID and access password. They are required for logging in and operating directly on the server itself. According to the license requirements, this data is only used by security department employees to protect profiles and fight fraud.;
  • The broker’s websites use encryption technologies for transmitting information and certificate authority (CA) certificates for user authentication.

Account Opening and Types of Accounts

  • Open an account using Forex.com – when registering, customers confirm their identity in KYC/AML format. It is standard procedure for a professional broker. After registration, Forex.com offers its users two types of accounts;

Forex.com Review – MARKETS & TRADING INSTRUMENTS

Broker’s name and domain Forex.com indicate the markets allow you to work. However, if you think that Forex.com – is only currency trading, you will find a pleasant surprise, not only in Forex.com Review but also in practice. In addition to currency pairs, clients Forex.com can also trade CFDs on metals, indices, cryptocurrencies, and popular stocks. In total, there are more than 300 markets.

Forex Market: To the credit of the domain owner Forex.com, the number of available currency pairs is significant. On the broker’s platform, you can trade all the classic pairs and effective cross rates and many exotic ones, such as Singapore Dollar to Hong Kong Dollar (SGD/HKD). It is an advantage Forex.com has in front of competitors.

CFD Market: Regarding CFD instruments, it should note that they cover the main markets and industries. However, the choice of individual ones within the market/industry may not be comprehensive.

Note the presence of several “thematic” CFDs: In essence, thematic CFDs are derivative portfolios made up of assets based on a particular feature. Such portfolios are compiled by professional financiers and are capable of stable trends. For example, CFD Green Index correlates with the shares of companies operating in the “green energy” industry, namely: production of equipment for renewable energy sources, alternative fuels, waste management, water purification, development of environmental technologies, and so on.

Geography of Markets

Forex.com is a broker focusing on financial instruments in the United States. Representation of the broker’s financial instruments on international markets:

  • North America (USA – Markets are sufficiently represented; Canada-Markets are represented weakly. No CFD on the Canadian stock index, only 1 CFD on Canadian company shares);
  • United Kingdom (Markets are widely represented. There are dozens of CFDs on stocks, 3 CFDs on indices);
  • Europe (Belgium, France, Italy, Netherlands, Portugal, Spain, Denmark, Finland, Norway, Sweden, Switzerland, Poland – the assets associated with these countries are practically non-existent, completely missing. However, there are several instruments for Germany – CFDs on stocks, as you can see, Europe is still underrepresented;
  • Asia (Hong Kong – Markets are well represented; Singapore – Markets are well represented; CFDs on Japanese and Australian stock market indices and CFDs on Japanese bonds).

HOW TO OPEN AN ACCOUNT WITH FOREX.COM

How to open a demo account with Forex.com? Do this before Investing!v 

Opening a demo account with Forex.com is easy. First, you need to choose which type of demo account you want to open – for platforms Forex.com or Metatrader, and by filling out a simple form, you will receive the necessary data to access the demo account by email.

Please note that the demo account (as for the web platform and the Metatrader) is valid for 30 days at the time of writing this Forex.com review. This period is sufficient to assess the quality of the services provided.

forex-com review demo account

FOREX.com CFD Broker Logo

? Global Market Leader
? Professional Accounts
? Award-winning
?? US Client ALLOWED

Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Forex.com Minimum Deposit

The minimum deposit for standard accounts Forex.com makes up $250 (except for DMA accounts).

In general, for those who have small start-up capital, the broker has quite acceptable conditions for opening an account.

However, live chat support recommends opening accounts starting with $2 500. Of course, there may be more economic rationality in this action. But if your motive is to get acquainted with Forex, then it is better to do with minimal tariffs.

Documents required to open an account.

Forex.com, a reputable broker from the USA, adheres to the international anti-money laundering policy AML/KYC and MIFID directives, and identity verification is mandatory for opening a real account.  

To pass verification, you will need:

  • proof of identity (civil passport or driver’s license);
  • a document confirming your actual residential address. It can be a bank statement, receipt for utility services, notification of payment of taxes.

After you upload scans/ high-quality photos of your documents, our staff will review your application. The waiting period may last for 2-3 business days (due to the heavy workload of the broker’s services).

In general (and this is confirmed by reviews on the Internet), the verification procedure happens without any problems. Still, the broker may reject the request in some cases without giving reasons but we have not seen any Forex.com review reporting such problems.

Open an account with Forex.com and start trading NOW! 

Opening an account in Forex.com is simple and completely passes online. The procedure consists of 4 steps + verification.

forex-com review account opening

FOREX.com CFD Broker Logo

? Global Market Leader
? Professional Accounts
? Award-winning
?? US Client ALLOWED

Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Step 1

You need to enter your first and last name, email address, password. Next, select your country from the drop-down menu. If there is no country (the European division accepts almost all countries), you should choose a different jurisdiction – the United States, the Cayman Islands. The procedure for opening an account, in this case, may vary slightly.

Step 2

Then you will need to share your residential address, tax reporting data, and proof of the source of your funds.

Step 3

You need to answer questions about trade and finance:

  • who do you work for;
  • do you have any experience in trading, and what is it?;
  • what is your financial situation – how much you have saved up, and how much you plan to invest.

Step 4

Confirmation of the correctness of the information entered earlier. You also need to check whether you agree with the broker’s policy and warnings.

After you agree that the information you entered earlier is correct, you will open your account. However, you will not be able to log in to the full-featured version until you have submitted your documents.

Broker’s system will ask you to confirm your citizenship (enter your passport’s series/number/date) and upload scans of 2 documents to verify your identity and check your residential address. As we have been writing this Forex.com review from the UK, we have been redirected to the UK-based website. 

forex-com review how to start trading

Forex.com base account currencies

  • You can open an account under the jurisdiction of the UK (FCA) in 3 currencies. There will be differences for other jurisdictions, for example, the ability to maintain an account in yen if opened through Gain Capital Japan Co. In total, for all divisions (including offshore), it is possible to keep an account in one of 6 currencies;
  • Choosing the account currency is essential to avoid additional conversion costs. Forex.com (for all regions) offers six base currencies: EUR, GBP, USD, AUD, CHF and JPY. Due to the expansion of geography in the parent company Gain Capital, account holders Forex.com can choose in which currency to keep an account. Competitors may not even have such a choice at all.

Leverage Trading

Every account opened under GAIN Capital UK Limited (London) has a margin trading service (leverage) built-in by default. And firstly, the shoulder dimensions are set at the maximum level. And secondly, the amount can neither be adjusted nor cancelled. But we want to warn all readers of this Forex.com review that trading with high leverage can be extremely risky and you can lose more than you originally invested. 

Forex.com deposit and withdrawal methods

It should understand that the set of methods for depositing and withdrawing funds may differ for different divisions of the international company Gain Capital, which manages the broker Forex.com.

Methods of deposit replenishment, withdrawal of funds and terms of their crediting for accounts opened under the jurisdiction of the FCA (UK) – for citizens of almost all countries of the world: 

Account Holders Forex.com, opened in GAIN Capital UK Limited (London), have at their disposal three ways to fund the account: 

  1. Wire Transfer Bank Transfer (There is no commission; the deposit period is 1-2 business days; Special features-transfers from GBP 100 are accepted; The maximum is not set; Transfers allowed in USD, EUR, CAD, JPY, CHF, AUD, GBP, which are converted to the account currency);
  2. VISA, MasterCard, Maestro bank cards (There is no commission; The deposit period is 24 hours; Special Features-Transfers from GBP100 to GBP100 thousand are accepted. Transfers – in USD, CAD, JPY, CHF, AUD, GBP, which are converted to the account currency);
  3. PayPal (There is no commission; the transfer is instant, but the broker stipulates a possible delay up to 48 hours; Features-transfers from GBP 100 to GBP 50 thousand are accepted; Transfers to USD, EUR, GBP).

Withdrawal methods and commissions:

  1. Bank Transfer (No withdrawal fees; Bank transfers may take 2-3 business days; Special features – no limit on the amount);
  2. Bank cards Visa or MasterCard – both credit and deposit cards are suitable (bez commissions; Withdrawal period about bullish for 48 hours; Features – up to GBP 100,000);
  3. PayPal (withdrawal period up to 48 hours; Special features up to GBP 20 thousand per transfer. Your PayPal account must support accepting funds).

In the ” Financing ” section, you can do this in your merchant profile in the “Financing” section. There are limits on deposits only when using cards: the minimum amount of one transaction – $50 (or the equivalent in another currency), maximum – $10,000 (or the equivalent).

FOREX.com CFD Broker Logo

? Global Market Leader
? Professional Accounts
? Award-winning
?? US Client ALLOWED

Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FOREX.COM TRADING PLATFORMS REVIEW

This section is one of the main ones on our Forex.com review. Broker Forex.com operates a set of trading platforms that have been designed to meet the demanding needs of currency traders seeking maximum performance, flexibility and speed.

A set of platforms Forex.com historically has been and remains reliable.   

forex-com review trading platforms

Trading Platform Forex.com:  Virtual Trading (Demo); Proprietary Platform; Desktop Platform (Windows); TradingView; Web platform; a complete set of MetaTrader (MT4 and MT5) and NinjaTrader; Tools for plotting charts, drawings, Lists, and Orders.

The broker provides two options for trading: electronic trading platforms – own company information ForexTrader PRO and MetaTrader (MT4, MT5).

Forex.com own trading platform

This powerful and sophisticated platform will meet the needs of most traders. The user interface is simple but informative. The venue has graphical tools, 15-minute timeframes, advanced live charts, and 100 technical indicators. In addition, users can create their custom indicators. The interface is customized for the trader personally, as the site has drag-and-drop windows to find the appropriate layout.

Once the software download is complete, clients access a range of integrated trading strategies, from scalping to pivot points. There are more than 100 templates that can customize in their development environment. In addition, all signals and price movement histories are available to the trader.

The news feed is another useful add-on that helps you stay up-to-date with events inside the platform.

MetaTrader

  • Forex.com is the world’s largest broker of the MetaTrader platform based on active MetaTrader servers for each broker. Clients of the broker can use the functionality of this well-known platform to trade the broker’s instruments.
  • MT4 Trading Platform: MT4 is one of the most popular CFD trading platforms and is part of Forex.com offers. MT4 is considered an industry standard and comes with several valuable features and tools. For example, MT4 can configure Bitcoin and Ethereum trading for automatic trading, and many crypto investors use this feature.

MetaTrader 5: The universal trading system MetaTrader 5, released in 2010, should not be considered an updated version of MetaTrader 4. They have entirely different functionality. MT5 provides an opportunity to trade on both the currency and stock markets.

Written in MQL5-a special programming language-it features a wide range of tools and modes for the most comfortable trading experience.

Features of the MetaTrader 5 terminal:

  • MT5 includes netting and hedging trading systems. Among the features of the platform are the following: simultaneous operation on several exchanges; deep analytics with 79 tools;  the ability to use up to 100 charts at a time; the range of timeframes has 21 types; several order modes and automatic trading;
  • MT5 has a lot of graph analysis tools, supports multithreading, gives traders several dozen pre-installed indicators, allows you to test multi-currency Expert Advisors, and has advanced robot optimization capabilities;
  • Also, the trader can independently install any tools written in MQL5;
  • Analytics and Forecasting price movements are essential parts of a trader’s job. The MT5 trading platform has many tools for performing analysis in two standard ways — technical and fundamental.

The technical approach is to use charts, timeframes, and technical indicators.

The program has an economic calendar and a news feed that allows you to promptly get acquainted and respond to the latest events for fundamental analysis.

There are trading platforms available for Forex.com customers who want to buy Bitcoin, Ethereum or other cryptocurrencies. 

Forex.com Advanced Trading Platform

It is the leading trading platform used by many Forex.com clients who want to invest in crypto assets. It is a robust platform that offers traders over 80 technical indicators, extensive drawing tools, and advanced charting features.

In addition, traders can use their custom indicators and integrated trading strategies with more than 100 templates to choose from. Thus, advanced trading is designed for serious traders who expect serious functionality, trading functions and analytical tools in one powerful package.

FOREX.com Review

FOREX.com CFD Broker Logo

? Global Market Leader
? Professional Accounts
? Award-winning
?? US Client ALLOWED

Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Forex.com desktop platform provides the most sophisticated trading functions for active and severe currency traders who need sophisticated trading functions and analytical tools in one powerful package, including:

  • Professional analytical tools, including integrated trading strategies with 100 predefined templates to choose from;
  • Customizable dashboards and trading preferences;
  • Powerful charting tools, more than 80 technical indicators, extensive drawing tools, and more.

Forex.com flagship desktop platform Advanced Trading is best suited for experienced traders. It comes with a robust chart package that includes a large selection of almost 140 technical indicators and drawing tools and more than a hundred predefined automated strategies.

The advanced trading platform offers advanced order types, deep customization, and many subtle but practical features, such as setting a valid price in a trading ticket. It is a well-designed, easy-to-use and feature-rich platform.

Note that the diagrams we show in this Forex.com review, the desktop platform is less high-quality than its counterpart – a web-based trading platform that provides charts based on TradingView.

Forex.com Web Trading Platform

Web-based trading platform Forex.com is easy to use, with a beautiful modern interface that is highly flexible to configure. This platform makes viewing markets, conducting research, and placing trades a breeze. It is best suited for casual trading.   

forex-com review web trading platform

The charts are based on TradingView and are loaded with almost 100 indicators, 14 timeframes and ten chart types.

The advanced trading platform offers advanced order types, deep customization, and many subtle but practical features, such as setting a valid price in a trading ticket. It is a well-designed, easy-to-use and feature-rich platform.

This web-based trading platform is optimized to ensure high performance, reliability, and speed across all browsers and is compatible with most of the trading tools out there, so you can buy Ethereum or buy Bitcoin from any computer connected to the Internet. In addition, thanks to the web-based platform, clients access indicators, charting tools, and drawing tools. Clients can also deposit and withdraw funds using the web-based trading platform and manage their accounts seamlessly.

Main Web Platform Forex.com Web Trader has a great design and is easy to use. Log in to the platform is one step without additional confirmations. The interface is flexibly customizable. Customers can easily add, remove, or change the size and position of tabs to create their own custom space. In addition, the search functions are very flexible.

Forex.com Mobile Trading App

This Forex.com won’t be complete without mentioning state-of-the-art web-based trading platform, optimized for iOS and Android devices, that offer clients access to the market from anywhere in the world. It allows you to implement full trading capabilities with several types of orders, access market analysis sections, comments and integrated news, and get more information: real-time voice alerts and notifications.

forex-com review mobile trading app

FOREX.com CFD Broker Logo

? Global Market Leader
? Professional Accounts
? Award-winning
?? US Client ALLOWED

Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

With the high volatility of the cryptocurrency markets, investors do not need to be in front of their computers to execute orders, which can be very useful when the market fluctuates.

In the functionality provided by: working with orders/positions; working with an account, viewing history; working with charts, including tools for technical analysis; market search, tracking, alerts; flexible settings.

The design is friendly and intuitive. Tradingview charts fit perfectly into the app.

Easy to use: Trading and managing positions in Forex.com mobile app is light and straightforward thanks to its flexible user interface and minimalistic design. 

TradingView platform functionality.

Clients of Forex.com can also use the functionality of the well-known TradingView platform to trade the broker’s tools.

In Forex.com app automatically syncs watch lists and includes easy-to-use charts based on TradingView, which contain more than 80 indicators and a wide range of drawing tools.

Forex.com Review – TRADING FEES & COMMISSIONS

Does Forex.com charge a fee? To answer this traditional question for almost any broker, we are in our Forex.com review; we will also respond traditionally. Just like any forex markets broker, Forex.com charges a commission when trading – either as a commission or as a distribution fee;

Forex.com offers commission-based accounts and a standard distribution-only account;

  • Fees may also apply when depositing or withdrawing funds, depending on your payment method. Forex.com does not charge any fees for incoming deposits, although your bank may set them to you depending on the method used (for example, when sending a bank transfer);
  • Commissions and fees Forex.com vary depending on the account type and are comparable to the commissions of significant competitors.

Overview of broker commissions on the Forex market.

Commission level Forex.com on a typical forex market account, average or above average, depending on the trading pair. Suppose you analyze the Forex.com broker’s standard spreads and its two competitors, eToro and Plus500. Thus, we can conclude that the commissions of Forex.com, in general, are less profitable for trading the most liquid significant pairs. In contrast, for cross-rates and exotic currency pairs, the offers of this broker are often better than competitors.  

Trading commissions: Commissions for trading with different types of accounts will differ. For example, the client pays only spreads for trading stocks, CFDs, and currencies with a standard version. However, a user with a commission account pays reduced spreads and $5 for each $100,000 from transactions.

CFD Commissions: The broker provides most of its trading instruments through contracts for difference (CFDs). We remind you that this is a high-risk margin instrument, which is recommended to be used with caution. CFD commission level at the broker Forex.com in general, we can call it low, but, as usual, there are nuances. Also, note that among the available CFDs, there are government bonds of different countries. Therefore, commissions are charged there in the same way as CFDs on stock indices.

Stock CFDs: Commissions for CFDs on individual shares at the broker Forex.com low prices. The only negative point, in this case, is the presence of a minimum commission per lot, which makes it more profitable to buy large volumes of contracts.   

CFDs on cryptocurrencies: CFD rates at Forex.com are low prices and significantly better than its direct competitors. For example, the standard spread for Bitcoin is 35.0, for Litecoin-0.5, for Bitcoin Cash-2.0 and Ethereum-1.2.

FOREX.com Review

To summarize, we note that the commission fees Forex.com are less profitable for trading the most liquid significant pairs. In contrast, for cross-rates and exotic currency pairs, the offers of this broker are often better than the competition.

Equal to the broker’s commissions can be characterized by average in the forex and cryptocurrency markets and low in most other CFD markets – from indices to metals.

Forex.com Review – TYPES OF TRADING ACCOUNTS 

What to trade? Americans work only with 80 currency pairs to everyone else suggested by 4,500 pairs.

Forex.com access five markets: currency pairs, indices, securities, raw materials and cryptocurrency pairs.

Detailed specifications and up-to-date quotes accompany each asset. The margin size depends on its type. For example, individual indexes are given a margin of 1: 200. Some of the Forex.com reviews note that this applies only to dealing accounts where transactions do not reach the liquidity providers.

Trading conditions

  • Forex.com broker offers customers who want to open an account the following trading conditions: standard invoice – minimum amount $2 500 (you can open a mini version with a deposit of $250 and make currency transactions via the trading terminal); maximum leverage of 1:200, for major currency pairs (floating and fixed spreads starting from 1 point). In addition to almost five dozen currency pairs, it offers trading in global stock indices, precious metals (silver, gold, palladium and platinum), a variety of commodities, energy carriers and CFD contracts for oil, silver and gold;
  • Trading conditions can be attributed to the average level of competitiveness. A high minimum deposit and leverage limit the possibility of implementing some high-risk, high-profit strategies and testing the functionality of the account/platform for novice traders. The spread is floating. The minimum value is 0.2 points, while the typical value for the EUR/USD pair is 1.3.

Cryptocurrency Trading: with Forex.com

Cryptocurrency trading is available on Forex.com through contracts for difference (CFDs) but not available when trading the underlying asset (for example, buying Bitcoin). Note, that at the time of writing this Forex.com review, CFDs on cryptocurrencies were unavailable retail traders from any broker in the UK, as well as residents of the UK.

On other sites to subscribers Forex.com they can trade four major cryptocurrencies and invest in Bitcoins, Ethereum, Litecoins and Ripple.

Traders can open positions and speculate on volatility without significant investment and ownership of the underlying asset. So, investors can take both long and short classes when trading Ethereum and with bitcoin, and only long positions in Ripple and Litecoin.

FOREX.com Review

FOREX.com CFD Broker Logo

? Global Market Leader
? Professional Accounts
? Award-winning
?? US Client ALLOWED

Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

In 2017, Forex.com started offering cryptocurrency CFDs on Bitcoin in the UK and Bitcoin futures in the US through its wholly-owned subsidiary FuturesOnline.

In 2018, the broker expanded its cryptocurrency CFD offering to include Bitcoin Cash, Ethereum, Litecoin, and Ripple with three base currencies (EUR, GBP, and AUD).

Today, bitcoin trading is available in 4 currency pairs: GBP, USD, EUR, and AUD. Investors can go long in 0.1 increments and invest in bitcoin with slowing leverage to take more prominent positions with less capital.

But we must not forget that increasing leverage increases risk.

Cryptocurrency trading is possible everywhere except in MetaTrader 4. The broker’s crypto market supports Bitcoin, Litecoin, Ethereum, and Ripple. You don’t even need to own crypto assets to participate in trading. It remains only to place bets on short or long positions.  

Should notice, what for users not you will need a virtual wallet for storage and protection their cryptocurrencies. With Forex.com, it is also possible to trade in both rising and falling markets, hedging the risk of cryptocurrencies.  

Residents of which countries can’t trade with Forex.com?

Country restrictions vary depending on which regional division you are working in. For example, at Forex.com, an account is opened. It is because, in different regions, the broker’s divisions are regulated by the relevant authorities.

For example, residents of most European countries are automatically directed to the British division of GAIN Capital UK Ltd. It is under the supervision of the FCA. Belgium’s residents are prohibited from opening accounts in this jurisdiction.

But Belgians can open an account under the jurisdiction of the Cayman Islands, which is not allowed for US residents.

On the website Forex.com broker, you can choose your country, and the system will redirect you to the appropriate department.     

Interestingly, the system redirects Australian residents to the broker CityIndex (also part of the Gain Capital group). At the same time, the list does not include Syria, Iran and North Korea (which is expected), nor New Zealand (which is already unusual).

Forex.com Minimum Deposit

For Standard and Commission accounts, the minimum deposit on Forex.com usually amounts to the equivalent of $100 when depositing with Neteller, Skrill, or a credit or debit card.

However, there is no minimum per transaction when financing by bank transfer. Many Forex.com reviews recommend at least $1000 for all accounts except the DMA account.   

In general, the broker gets a high rating in this section. But for objectivity, it should note that commissions and fees at Forex.com are slightly more expensive than the industry average.

Forex.com Trading accounts

The structure of accounts Forex.com is pretty simple. But it varies depending on the region. 

Forex.com offers customers three live accounts and a demo account.

Real accounts differ in the set of trading instruments and the type of commissions (spreads, fixed or combined option).

Standard account: it with even with a fixed commission. The deposit starts with $1000. A trader can operate more than 80 currency pairs, gold and silver, indices (more than 15 options) and commodities (more than 12 options). Cryptocurrencies are available. There are only spreads. The average spread value is 0.8 points;

A standard account is the only option available to MetaTrader clients, and it does not is a perfect choice. Average spreads are high, at 1.1 points (1.3 in the US) for the EUR/USD pair (data points about spreads Forex.com, but just 2021). Nevertheless, the standard account may appeal to traders for the benefits of execution by the market maker.

Commission Account (the US only)

  • the same trading tools are available as on the standard account type. Minimum deposit – $1000. However, there is a lower spread here: it starts with a value of 0.2 points. At the same time, the broker additionally charges a commission for access to trading. There is a restriction where you can’t trade via the Internet MetaTrader;
  • The Commission Account option is linked to your Forex.com platform (not available in MetaTrader) and requires a deposit of $10,000 with a monthly volume of at least $25 million. It is designed for medium and large volume traders looking for discounts from Forex.com Active Trader Program (also available in Canada);
  • There are five volume levels with discounts from $2 per million at the base level up to $9 per million at the highest level (fifth level). The base commission for the lowest level is $1 for a standard lot ($5 on each side), which adds about one point to the typical spreads of 0.8 points for EUR/USD (spread data for August 2020);
  • Bottom line: if you don’t trade more than $50 million per month, all costs on Commission account Forex.com are almost the same as the standard account for US residents, with the only difference in the method of execution and available platforms.
FOREX.com CFD Broker Logo

? Global Market Leader
? Professional Accounts
? Award-winning
?? US Client ALLOWED

Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Direct Market Access (DMA) Account

  • the minimum deposit on this trading account is $25 000. There are 58 currency pairs available to the trader and gold and silver. Spreads on this type of trading account are not provided. However, there is a commission fee. The unique feature of the account is that it is opened individually for large clients.
  • DMA (known as an STP PRO account in the US) is available worldwide and linked to its own set of advanced trading platforms, Forex.com. It also offers agency services and the highest potential broker discounts;
  • Typical spreads for this account for the EUR/USD pair in August 2020 were 0.03 pips, which is 1.5 pips after adding a round-trip fee equivalent to 1.2 pips at the base level;
  • The effective total cost is almost the same as the base level on the Commission Account if you do not trade more than $100 million per month (Second level). It reduces the effective spread to 1.1 points. Note that traders who “flip” more than $2 billion per month (Level Six) will receive effective spreads of 0.7 points, comparable to that of offer IC Markets or Tickmill.

On the European version of the site (regulated by the British FCA), the accounts structure is different – there is a division of accounts by ownership. Forex.com offers options:

  • The individual-the account belongs to an individual;
  • Joint-the account belongs to two or more persons;
  • The corporate account belongs to a legal entity.

Forex.com Trading Features:

  • The company offers trading on Forex.com, MetaTrader 4, MetaTrader 5, TradingView, as well as all the necessary tools for setting up charts and graphs;
  • By choosing the forex market for trading, the client gets the opportunity to exchange 80 currency pairs around the clock five days a week. The firm charges a commission of $5 for each $100 000;
  • Trading conditions will be most interesting for those whose goal is long-term cooperation and active trading. Professionals will appreciate more than 4,500 instruments and high-speed order execution in various markets using DMA technology. Special trading conditions are provided for traders with a significant turnover; simultaneously, cent-type accounts are not provided; with-floating. The combination of these factors indicates that such situations are much less attractive for novice traders than for experienced Forex trading participants.;

Forex.com is a pretty good option for traders who want to focus on independent trading and are ready to invest in traditional trading for personal, professional growth.      

Funding rates for Forex.com are quite profitable email addresses to hold long-term positions and fluctuate around 2.5% per annum. However, it may differ significantly from the exchange rate of the central issuing bank of each currency.   

Forex.com Review – ADDITIONAL INFORMATION

We also want to reflect in this Forex.com review other essential features, functions and services that will significantly complement, we hope, a positive impression about this broker.   

Useful services Forex.com

  • automatic market analysis-possible thanks to tools such as Autochartist and Recognia. Its are available to customers for free on desktop and web platforms Forex.com;
  • The economic calendar is another valuable tool for market analysis. Allows you to monitor events that affect the volatility of trading assets;
  • pivot points are a “live” chart that allows you to determine significant support and resistance levels for such periods as a day, week, and month.

Bonuses from Forex.com

– Forex.com offers a particular type of trading account – “Active trader” (Direct Market Access Account). It is the best trading account. It is especially suitable for traders who have large trading volumes. “Active Trader Program” is a bonus program that provides the broker’s clients with the opportunity to receive monthly discounts of up to 15%.

The main advantage of this account is to reduce the level of spreads. As a result, the client “Forex.com” can trade on the EUR / USD pair with a distance of 0.4 points.

With a bonus “Active trader”, the client receives priority service; regular reports and statistics on trades; zero commissions; personal manager; discounts on popular markets while maintaining monthly volume levels.

However, the rules for this account require that the client maintain a minimum average monthly balance of $25 000. If you can keep an average account balance of $100,000, you will be promoted to the second discount level. There are even more advantages here that additionally they are negotiated individually.

To automatically get into the program, you need to open an account and deposit $10,000. In addition, the trader’s trading turnover must be at least $25 million in nominal volume per month (approximately 250 standard lots).

For Forex.com customers, very competitive rates are also available for those who have taken advantage of the Active Trader offer.   

Bonus from IAFT – Rebate for trading in Forex.com:

Rebate Services (Rebate Service)- this is a deferral of the spread to traders, regardless of the result of the transaction. Enabling this service and earnings increase in the foreign exchange market makes it more convenient to work; there is a guarantee to get additional earnings on trading accounts, not considering that all transactions were unsuccessful.

The number of transactions made directly affects the number of deductions. It is because the more transactions are carried out, the larger the size of the rebate – the guaranteed payout.  

Forex.com broker is an IAFT partner (International Association Of Forex Traders). Each client of the Association has the opportunity to reduce trading costs by providing a rebate service. First, you need to complete a simple registration on the IAFT website (free and takes up to 15 minutes, including verification) and open a trading account on Forex.com using the referral link.

The IAFT will charge you spread compensation for each trade, regardless of its outcome.

Forex.com is a market maker

It can be considered a positive attribute since the ability to execute a transaction will not depend on a third party, as with agency brokers.

Thus, trading on Forex.com in challenging market conditions can potentially be better than in other places.

The CityIndex brand was acquired by GAIN Capital in 2015 and operated as a separate organization focused on different regions of the world.

However, office employees Forex.com in the UK serve customers of both companies (which have a typical head office).

If you want to get access to a broader range of asset classes with lower spreads on the EUR/USD pair and at the same time, you are not satisfied with the minimum deposit size at this broker. IG, FxPro, CMC Markets and Plus500 are close alternatives for opening mini-accounts;

Research. Review. News. Market analysis.

Forex.com does a great job centralizing its research within an advanced trading platform and organizing it for easy access. The study suggests that the only drawback with Forex.com is that there is a general lack of video content.

Multiple news channels, automatic image recognition modules from Trading Central, and blog updates from Forex.com – the entire global research team is available on the web-based trading platform. In addition, headlines come from Reuters, and the site and media have integrated an economic calendar with central trade management.

forex-com review educational resources

FOREX.com CFD Broker Logo

? Global Market Leader
? Professional Accounts
? Award-winning
?? US Client ALLOWED

Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Forex.com produces a wealth of high-quality written materials every day, covering a variety of markets and sectoral topics. The content includes weekly publications, such as the “Week Ahead” series, daily articles prepared by our analysts Forex.com, and integrated resources from third-party vendors. For example, research tools supported by Trading Central are directly integrated into a set of platforms, such as the popular Market Buzz, Technical Insight, and Analyst Views modules.

Forex.com Review – ? ADVANTAGES AND ? DISADVANTAGES 

We want to note in this Forex.com review the key advantages of this popular online broker. 

  • regulation and licensing;
  • access for residents from 180 countries;
  • large selection of accounts with favourable terms and conditions;
  • training version for beginners;
  • professional arbitration of depositors with any experience;
  • convenient server;
  • popular trading platforms;
  • modern tools;
  • availability of the mobile version;
  • trading with adjustable leverage;
  • security of information and funds.
  • average order execution speed – 0.04 ms;
  • reliability-controlled by several regulators, customer funds are kept in separate accounts from the company’s assets;
  • attractive trading conditions – narrow spreads across more than 90 assets, including currency pairs and metals, and more than 4,500 markets, including FX, indices, commodities, stocks and cryptocurrencies.
  • in high reliability (shares of parent companies are traded on the stock exchange. Licenses regulators of the USA, Japan, Great Britain, etc.);
  • a modern, powerful, convenient and beautiful self-developed platform;
  • the ability to trade with direct access to bank liquidity providers;
  • average or lower than average commission rates. Honourable conditions for large clients. No commission fees for depositing/withdrawing funds;
  • Forex.com Received Best-in-Class (Top 7) awards in two main categories for 2021, including investment offering and mobile commerce.;
  • Flagman advanced trading (desktop) and web-based trading (browser) platforms with many assets and a wide range of available markets favourably distinguish and distinguish Forex.com broker from your competitors;
  • Web-based trader Forex.com uses advanced TradingView charts, which are fully integrated and conveniently accessible via the same username;

There are also some disadvantages and for some investors, they can be decisive:  

  • language barrier (the presence of only the English and Chinese versions of the site localizes the platform);
  • poor choice of money transfer methods;
  • there are only four cryptocurrencies in circulation;
  • MetaTrader 5 is only available outside the United States, although it should be launched domestically in 2022;
  • The educational offer for American traders is not as reliable as what is available on <url>. Forex.com new website in the UK;
  • on platform Forex.com MT5 available only about 600 instruments, compared to more than 4,500 platforms that do not use MetaTrader;
  • pricing is not a strong point of the broker. There is also a general lack of video content for research and education;

To the broker Forex.com there are no complaints from the point of view of financial security. On the contrary, for almost 20 years, the broker has received many positive reviews.

Final Verdict –  

Pros / Cons
  • Top Rated Broker
  • Operating since 1983
  • US Clients Allowed
  • Traditional Assets & Crypto
  • Zero Commissions
  • Market Risk
  • No Derivatives

FOREX.com Review –   Ranking

For this FOREX.com review, we tried to cover most of the features of this CFD broker and were overall satisfied with the results. FOREX.com has solid financial standing and a strong regulatory framework in major countries, including the UK and the US. It is trusted by more than 200,000 clients globally and has more than $1.4 in assets.

FOREX.com trading platforms are suitable for beginners and advanced cryptocurrency traders and offer advanced trading features such as automated trading, advanced charts, indicators, and many others. In addition, FOREX.com allows trading Ethereum, Bitcoin, Ripple, and Litecoin with tight spreads and leverage trading is also available.

In this FOREX.com review, we were delighted with the result and recommend this CFD broker for anyone looking to start trading Ethereum, Bitcoin or other cryptos. You can also check our top 5 of the best CFD brokers for crypto trading in this article

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£10,000 Demo Account

? Global Market Leader
? Professional Accounts
? Award-winning
?? US Client ALLOWED