- Highly regulated
- Excellent trading platforms
- Competitive spreads
- Great customer service and support
- No bonuses or promotions
- Only two account types available
Forex.com is an international trading brokerage which is globally recognized for competently offering the trading of forex and CFDs on a wide range of tradeable assets. The broker was established in 2001 and is owned and operated by GAIN Capital UK Ltd., a registered company in the UK under registration number 1761813. Forex.com’s main headquarters are located at 16 Finsbury Circus, London, EC2M 7EB, and they have numerous satellite offices around the world. Due to their headquarters being located in London, Forex.com falls under the jurisdiction of the Financial Conduct Authority (FCA) and is thus regulated by them. As well, Forex.com is compliant with the Financial Services Compensation Scheme (FSCA) and regulated by 7 other reputable regulatory authorities from around the world, making Forex.com a true global market leader. The website and their trading services are available in multiple languages and the overall quality of Forex.com is top of the line as they cater to both beginner and experienced traders. Forex.com may seem like an excellent choice for traders, but is it? In the following review we’ll delve deep into the aspects that make up this online trading brokerage and see what sets Forex.com apart from the competition and whether or not they can be trusted.
Forex.com offers their traders the choice to choose from 2 different and highly sophisticated trading platforms. The broker features the world renowned MetaTrader 4 (MT4) platform, and their very own proprietary FOREXTrader platform. Both platforms offer phenomenal tools and features and are intuitively designed to accommodate both beginner and advanced traders. See the platforms overviewed below.
MetaTrader 4 (MT4)
This platform is one of the worlds most popular trading platforms and for good reason. It comes complete with a highly advanced charting package with numerous analysis tools and technical indicators. Forex.com’s MT4 platform features a wide array of integrated tools and analysis features which are unique to Forex.com and the platform receives real-time account data for the fastest possible trade execution. Another great feature is the integration of “Expert Advisors” (EAs), which are programmable scripts and indicators for automated trading. Forex.com’s MT4 trading platform is available on Windows and Mac desktop computers as well as mobile devices from a downloadable application on the Apple App Store or Google Play store.
This is Forex.com’s proprietary trading platform and is designed for professional traders as it integrates top-notch research and analysis tools for trading successfully. The platform is highly performing and has ultra-fast execution speed. The interface can be customized to your liking and traders can easily switch between market to instant execution and access advanced order types. Traders also have access to 15 pre-defined trading strategies and can customize and create their own using the built in Strategy Wizard. The platform includes over 70 technical indicators and a wide array of advanced trading tools and chart types. As well, traders can trade on the go on mobile devices as the entire platform is completely web-based.
Forex.com has an extensive product list of over 75 products spanning across 200 global markets. The products offered by Forex.com are available to all traders from around the world and include Forex, Commodities, and Indices. See their details outline below:
- 45+ currency pairs including majors, minors, and some exotics
- Leverage up to 40:1
- High volatility
- Metals, energies, and softs can be traded as CFDs
- 12 commodity CFDs
- Trade on leverage of up to 16.67:1
- The most popular stock portfolios available for trade
- 10 index CFDs
- Trade on leverage of up to 33.33:1
- Global economy exposure
Fees and Commission
Forex.com offers traders very fair and competitive fees which are incorporated through the spread with zero commission fees. All spreads are variable rather than fixed, which often results in lower overall fees and tighter spreads. Spreads start as low as 0.84 pips for the premium Active Trader Account and for the Standard Account, spreads typically range from 1.9 pips to 1.5 pips. Traders can get these fees lowered if the deposit a minimum of $10,000 and make at least 30 standard trades per month, if these criteria are met, traders will receive 15% lower fees.
Security and Fairness
Forex.com might be the most secure online trading brokerage we have ever come across. The broker is very safe and secure because it is owned and operated by GAIN Capital Holdings, Inc. (NYSE:GCAP), which is a global, publicly traded company that must meet the highest security standards and reputation. Forex.com is regulated by 9 highly reputable regulatory authorities, including the Financial Conduct Authority (FCA) UK, which ensure the broker remains transparent and honest with the financial services they provide. In addition to this, client funds are held in segregated accounts and all transactional data and personal information is encrypted with the latest SSL encryption technology. Traders with Forex.com can rest assured they will be treated fairly and that their money is safe and secure.
Another area of excellence is the amazing level of customer support. Clients can reach support representatives via telephone, email, live chat, and through their social media channels. Support is available 24/7 and in multiple languages. In addition to these methods of support, traders can browse the websites extensive FAQ page, a variety of informative content on the site, and a very resourceful education center. All in all, the support offered by Forex.com is phenomenal.
Forex.com is a truly competent and reliable online trading brokerage. They offer a variety of trading services spread across numerous global markets. The trading platforms available are exceptional and very popular, and the customer support is extensive and phenomenal. It’s safe to say that Forex.com is a very high-quality trading brokerage that offers top of the line trading services.
The following are the common questions that customers inquired about Forex.com.
Is Forex.com regulated?
Yes, it is regulated by the Financial Conduct Authority (FCA) in the U.K., the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) in the U.S., the Financial Services Agency (FSA) in Japan, the Securities and Futures Commission (SFC) in Hong Kong, the Monetary Authority of Singapore (MAS), the Cayman Islands Monetary Authority (CIMA), the Australian Securities and Investments Commission (ASIC), and the Investment Industry Regulatory Organization of Canada (IIROC).
Is Forex.com a scam?
No, Forex.com is a legit broker with an outstanding reputation.
Where is Forex.com based?
Forex.com is based at 16 Finsbury Circus, London, EC2M 7EB.