Forex.com Review – Online Platforms, Commission, Leverage, Account Types, Features & more
Established in 2001, Forex.com is the most popular trading platform regulated in four tier-1 jurisdictions.
- It’s renowned as the safest trading site among traders, also for CFDs.
- com’s multi-asset offering is a notable point.
- It’s a good platform for high-volume traders who want to invest in an extensive amount.
- com is registered under several regulatory bodies, and the most important of them are FCA (UK), NFA (US), and CFTC (US).
- Get a seamless trading experience at Forex.com official app.
About Forex.com & Accepted Countries
Forex.com is the most trusted web-based platform among Forex traders. Established in 2001, the platform is also considered the safest way to trade currencies.
Since it’s listed on the New York Stock Exchange, it’s the chief attention-driving factor for traders to spend time here. It’s a part of GAIN Capital that allows you to trade the retail CFD and FX markets.
The long track record of Forex.com evidences why it is rapidly growing. It is also because the parent company of Forex.com is listed on the stock exchange. The headquarters of Forex.com is located in Bedminster, New Jersey, USA.
However, most of the services offered by Forex.com vary as per country. For instance, CFDs are available outside the US but not within the US.
Still, it’s an excellent FX trading platform providing immense benefits to the traders.
|Founder / CEO||Glenn Steven|
Open a Forex Trading Account Now! – Fill up the Form
Forex.com Trading Platforms
Forex.com is holding a legendary position in the trading market. The platform is also popular because it provides traders from all across the world access to 180+ global markets.
|Trading Platform||MT4, MT5|
|Desktop Platform – Windows||Yes|
|Desktop Platform – Mac||Yes|
|Desktop Browser Platform||Yes|
|Mobile Site Platform||Yes|
|Android App Platform||Yes|
|iOS App Platform||Yes|
|Windows App Platform||No|
|Other Mobile OS Platform||No|
|Trading Platform Supported Languages||English|
For example- feel free to trade in forex pairs, cryptocurrencies, stocks, indices, commodities, and so on.
However, forex is also regulated in Four-Tier Juridictions, and there’s nothing wrong with calling it the safest way for trading forex.
With its multi-asset offering, it provides tremendous opportunities to you. Even though whatever type of trader you are, you can enjoy using Forex.com.
With guaranteed stop-loss orders and client’s account protection, the platform ensures you enjoy profits without worrying about threats.
However, executing currency trade is relatively easy with Forex.com. Click on the currency pair you want to buy or sell, and enter your bid amount for the currency.
Obtain a summary of your trading account, such as the overall net loss or gain you’ve incurred. Altogether, your trading process becomes more straightforward and faster.
The tons of indicators available make the whole process of trading quite useful. The education section is an additional perk you get along with Forex.com.
Forex.com Mobile App
Are you looking for an instant FX Trading platform that anytime allows you to check out the latest market curves? Try out the exclusive app by Forex.com.
What we like about this app is that it mirrors the desktop. Also, the benefits you obtain with this app make it a plausible thing.
The fast and integrated interface of this mobile app indeed provides you with the mini desktop experience. It’s difficult to call it a mobile app.
This is because every time you’ll be holding your smartphone in your hand and viewing this app on your screen, you’ll be impressed by the small details.
The easy customization and alert features are some additional perks alongside some helpful tools. You can download Forex.com mobile app on both iOS and Android devices.
Check out Mobile Apps of more Forex Brokers
Forex.com Commission or Brokerage
Forex.com fee is quite different when we compare it with other stock and options accounts.
For instance- at the time of trading the currency, you see two options: the first one is “bid,” and the second is “ask” price. However, you can also identify them as “sell” and “buy” prices.
The “bid” price refers to the highest price point for the security set by the ‘buyer’ at which he wants to pay for ‘security.’
On the other hand, the “ask” price refers to the lowest price point at which a seller can pay for security.
The word “spread” stands for the difference between “bid” and “ask,” which later plays a crucial role in executing the trading.
Similarly, the amount you pay as a fe eis based on your average trading volume. Still, the average spreads appear less expensive than the competitors of Forex.com because the spread fluctuates daily.
You also get a commission-based account on Forex.com, which asks you for a fee of 5 dollars per trade. But, here you’ll have reduced spreads, unlike the standard accounts.
The overall pricing structure, at first glance, perhaps appears confusing for new traders. However, Forex.com doesn’t charge any fee on deposits.
|Commission on trades||No|
Forex.com Exposure or Leverage
Be aware, the position leveraged overnight can draw swap charges and perhaps end up creating a tense situation for you. Trading Fx or CFDs on leverage can derive an additional burden on you.
In most instances, the losses exceed deposits. That’s why Forex.com recommends to all traders to maintain a minimum balance of $2,500 in a trading account.
So you don’t encounter such problems and deal with leverage more effectively.
Payment Methods provided by Forex.com
The payment methods provided by Forex.com are also relatively seamless. To keep sufficient funding in your account, you can choose multiple withdrawal and deposit options.
|Deposit Options||Paypal, Debit card, Credit Card, Bank Transfer, eCheck, Check, Wire, etc.|
|Withdrawal Options||Paypal, Debit card, Credit Card, Bank Transfer, eCheck, Check, Wire, etc.|
Such as- you can use Paypal, Debit card, Credit Card, Bank Transfer, eCheck, Check, Wire, etc.
If we talk about the minimum to the maximum limit of transactions in Forex.com, it’s allowed between $30 to $10,000.
Also, you can’t use Paypal for the transaction if you’re entered login details.
Find out Payment Methods provided by other Forex Brokers
Investment in Asset Classes or Markets by Forex.com
Forex.com also offers investors the opportunity of CFD trading on asset classes.
Asset classes refer to indices, foreign exchange, shares, cryptocurrencies, and commodities, etc. Investors can easily invest in their favorite market.
|Total Tradable Assets||NA|
|Number Of Currency Pairs||NA|
|Number Of Cryptocurrencies||NA|
|Number Of Stocks||NA|
|Number Of Indices||NA|
|Number Of Commodities||NA|
|Number Of Futures||NA|
|Number Of Options||NA|
|Number Of Bonds||NA|
|Number Of ETFs||NA|
Forex.com Virtual Trading Account or Demo Account
The forex trading market is ever-changing. Therefore, if you’re a fresher in the Fx trading market, you must first take a risk-free experience.
Since Forex.com provides you with this opportunity in their demo account, so it can be the best thing for you.
However, it’s such a helpful thing that beginners and even experienced traders use a demo account. After all, the demo account (virtual trading account) helps them learn and execute trading strategies.
They learn all these things in a risk-free environment. That’s why everyone should check-in in on the demo account by Forex.com.
|Virtual Money||$ 10000|
Forex.com Offers or Deals
Forex.com does offer special deals and discounts to its clients. Check below all of them:
|Free Learning Courses||Yes|
|Free Demo Account||Yes|
|Discount on Brokerage||Yes|
|Flexible Brokerage Plans||Yes|
|Forex Trading Contest||No|
|Trading Bonuses & Rewards||Yes|
Forex.com Regulation or Licensing
Forex.com is regulated and run by several legal, financial authorities. In brief- it’s controlled by:
- UK’s Financial Conduct Authority (FCA)
- National Futures Association and Commodity Futures Trading Commissions Situated in the US
- The Australian Securities and Investments Commission (ASIC)
- Japan’s Financial Services Agency (FSA)
- Investment Industry Regulatory Organization of Canada (IIROC)
- Cayman Islands Monetary Authority (CIMA)
- The Securities and Futures Commission (SFC) of Hong Kong
- The Monetary Authority of Singapore (MAS)
Forex.com complies with the standards of regulatory bodies. Therefore, you can trust this giant FX trading platform.
Find out Regulations & Licensing of more Forex Brokers
|Easy Markets||Fusion Markets||Go Markets||IronFX|
|FP Markets||FXPro||IG Group||Libertex|
Everything that a trader wants from its trading platform, they get all at Forex.com. Let’s check out the features revealing how helpful this platform can be for you.
The flagship desktop platform of Forex.com provides its users with a robust charting package.
You can also select the best technical indicator for you from a total of 139 tools, including the automated strategies, research tools, and technical analysis.
You can find everything here. The layout design is also quite simple and easy to understand.
Frequently conduct market research and place trades. The 100+ indicators support your capabilities of understanding and deriving a well-informed decision from charts (10 types of charts).
You can also save the charts and do many more things on a single interface.
The multiple news channels, blog updates, and automated market patterns keep the user up-to-date with the emerging opportunity in trading.
In our Forex.com review, we’ve found written content published on this platform every day, the best thing.
A trader can capture critical information and again review it at any time. Thus, it amplifies the expertise of them.
For practical learning experience, there’s nothing more significant than video content. Surprisingly, Forex.com provides you with this option. So the user can explore the market.
The same features you get in the mobile app as well. Altogether, Forex.com not just provides traders with an instant and accessible gateway to numerous markets but educates them too.
From market research, getting insight into different modules to effective trading, you can do lots of things at Forex.com.
|Social Trading / Copy Trading||No|
|Guaranteed Stop Loss||Yes|
|Guaranteed Limit Orders||Yes|
|Guaranteed Fills / Liquidity||Yes|
|Trading From Chart||No|
|Interest On Margin||No|
|Other Trading Features||No|
Forex.com Account Types
Forex.com provides users access to three types of accounts.
Mini account: It’s the only option for clients choosing meta trader. Perhaps, it can be an unlikely option for you, because the average spreads of it are higher between 1.4-1.6 pips.
Commission account: You can use this account in the US only. Still, you’ll have to deposit a minimum of 2.5K in the commission account.
Traders who belong to medium to high-volume trading categories can choose it. In the commission account, you also get huge discounts from Forex.com.
As compared to its competitors, we’ve found Forex.com slightly expensive. But the functionalities that Forex.com offers to its users are worth it.
Forex.com Account Opening Process
Before opening a trading account at Forex.com, make sure you’re carrying the required documents. For instance-
- An original proof of identity (passport or ID card) also should be in good condition.
- Original proof of Address (A gas bill or Electricity bill) should show your residential area’s complete address, including the country.
These documents are mandatory in the further verification steps of this account opening process. Let’s have a look at the steps to follow to open a Forex.com account.
First Step – Sign in, fill out the asked information, and choose your preferred trading platform.
Second Step – Complete the rest of the account profile.
Third Step – Upload the asked documents and verify the account.
Fourth Step – It can take time in verification.
Once the verification is done, you’re ready to trade: that’s it!
Forex.com Trading Account Features
Check below all the trading account features under various account types:
|Trading Desk Type||Market Maker|
|Suitable for beginners||Yes|
|Suitable for professionals||Yes|
|Suitable for scalping||Yes|
|Suitable for daily trading||Yes|
|Suitable for Weekly trading||Yes|
|Suitable for swing trading||No|
Forex.com – Research & Advisory
Find below all the different reports and support provided by its Research & Advisory team:
|Daily Market Commentary||No|
|News (Top-Tier Sources)||No|
|Company Stock Review||No|
|Free Stock Tips||No|
- Wide range of services offerings
- Clear fee report
- Good customizability
- Education and research tools are incredible
- Easy-to-navigate platform
- Not user-friendly
- Outdated design
- Can’t buy or sell additional securities (e.g., stocks and bonds)
- Can’t open a Retirement account or IRA
- The confusing margins and price structure
Trading Hours Forex.com
Trading on Forex.com is available 24 hours a day, including more holidays. Still, the time varies bases on your investments in a particular market.
Customer Care or Contact Details Forex.com
Forex.com is currently offering two modes for contact with the customer support team of Forex.com-
- By email- Send a message to support@Forex.com
- By phone- Call 877-367-3946 and select option 1
- Safety & Security- Forex.com
Forex.com adheres to various licensing and regulations by legal bodies. But since, it’s regulated by varying jurisdictions, its services also vary.
Even though the company encounters any financial issue in its lifetime, the client’s money will stay safe. Still, it depends more on which country you live in.
|Support During Weekends||No|
|Live Chat Support||No|
|Customer Support Languages||Arabic, English, Japanese, Russian|
Forex.com Rating & Reviews
Based on different users and their experiences below are the company rating and reviews:
|User Experience||7.3 / 10|
|Products & Services||7.8 / 10|
|Brokerage Charges & Fees||8.1 / 10|
|Research & Advisory||8.2 / 10|
|Trading Platforms||8.1 / 10|
|Overall Ratings||7.5/ 10|
|Total Client Reviews||165|
Forex.com Trading – Verdict
Now you’ve gathered all the requisite details about trading through Forex.com. Even though you’re a professional or an amateur trader, you get lots of things to learn at Forex.com.
After all, alongside trading, you grasp impressive information on how to trade smartly and gain profits.
That’s why it’s the most valuable platform for all traders. Even though it’s a slightly expensive trading platform, you can still find it the best way to go!
For a long time, if you were also searching for an effective Fx trading platform. Maybe this one is a deal for you. Alongside trading, you learn lots of things through this all-in-one solution for trading.
It’s a one-stop solution for your entire trading needs. Make sure to continue with the Demo account if you aren’t confident about your trading skills.
Open a Forex Trading Account Now! – Fill up the Form
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