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Forex.com Review

Minimum Deposit: $100 VISIT BROKER

73% of retail investor accounts lose money when trading CFDs with this provider.

Richard Montana

October 26, 2021

Forex.com has been providing traders from all over the world with access to 4,500+ worldwide markets, including 80+ forex pairs, thousands of stocks, many commodities and prominent cryptocurrencies. The company has its headquarters in the UK and offices in the USA, Japan, Canada, and the Cayman Islands. The broker was founded in 2001 and is part of a publicly traded company StoneX Group Inc at the NASDAQ stock exchange. The financial statements of the parent company are readily available. The broker is authorised and regulated by some of the top-tier regulatory authorities such as the FCA, JFSA, CFTC, NFA, IIROC and ASIC across different countries. The broker has a long record of continuously delivering excellent trading conditions, including tight spreads, quick execution times, and low trading costs. Forex.com offers user-friendly trading platforms, sophisticated trading tools, research and educational resources, and round-the-clock customer support, in addition to an industry-leading trading infrastructure.

Forex.com has many advantages over its competitors in the industry. The broker offers a variety of forex instruments tradeable with a very low forex fee. The broker has no deposit or withdrawal fee with the most popular payment methods available for transactions. With a handful of options to choose from, the broker offers the popular MetaQuotes trading platform and its own trading platforms. The broker also offers demo trading.

On the other hand, Forex.com charges high stock CFDs trading fees. There is an inactivity fee charged from the accounts of inactive traders. The broker takes a while for the verification process while account opening process. The broker offers customer support only on weekdays, and the email support’s response can be a bit slow. Forex.com does not offer fundamental data for its traders.

Forex.com offers a diverse product portfolio to its customers, with over 4500 trading instruments, including forex, commodities, stocks, CFDs, indices, commodities and various cryptocurrencies. The broker’s offered number of forex instruments are quite impressive as compared to its competitors. However, the broker lags in providing other popular asset classes such as real stocks, options and bonds to its customers. Moreover, the broker does not offer real stock trading, but only stock CFDs are available to trade. Trading instruments are available on all trading platforms, either with standard or direct market access accounts.

Forex.com Instruments Summary

Commission and Spread Fees

Forex.com allows trading with very tight spreads that are variable through market hours. Depending on the market you choose to trade, Forex.com offers both fixed and variable spreads. Fixed spreads are unaffected by market circumstances like volatility and liquidity. Fixed spreads may be given for a specific period of time or throughout trading hours, depending on the market. Variable spreads can change during the day depending on a variety of factors like underlying liquidity and market volatility. With variable spreads, Forex.com will provide you with the lowest spread possible, as well as an average spread over a specified historical period. On standard accounts, average spreads start from 1.0 pip. When trading on a Commission Account (Only for US clients), Forex.com charges commissions on shares, CFDs, and FX trading. The broker charges a commission of $10 per round per standard lot traded, making it a bit more expensive than its competitors. On direct market access (DMA) account, the client’s don’t have to pay in terms of spread as all the trading costs are included in the commissions. The broker also offers cash rebates under the “Active Trader” program that reduce trading costs by up to 15%. However, cash rebates are offered to those clients only who maintain their trading account balance above $10,000.

Deposit and Withdrawal Fees

Forex.com does not charge any deposit or withdrawal fee from its customers around the world. However, the customers might have to pay transaction charges that are applied by the payment method they are using.

Inactivity Fees

Forex.com charges an inactivity fee of $15 per month from the clients who have not conducted any trading activity on the account for more than 12 months. It does not affect their open positions, but the inactivity fee is deducted from the account balance.

Forex.com provides traders with a variety of professional trading platforms that are tailored to satisfy the demands of traders of all levels. Whatever your trading needs are, you may find a trading platform that meets them. Each platform is built to deliver unrivalled speed and performance while giving you complete control over your trading experience. Desktop, online, and mobile platforms are all available. This gives an immense advantage if you want to trade using many devices in various places, as one account may be accessed from a variety of platforms.

Desktop Trading Platform

The powerful desktop trading platform provided by Forex.com is designed for maximum performance, versatility, and quickness. It’s built to satisfy the demands of active traders, with completely customisable layouts, trade preferences, one-click trading, professional analytics tools, integrated trading methods, extensive charting features, a build-your-own-indicator function, and much more. Here are the salient features provided on the desktop trading platform:

WebTrader

With an intuitive design and full trading capabilities, advanced charting, smart trade tickets with advanced risk management options, pre-defined and customisable layouts, powerful charts with integrated one-click dealing, and integrated trading tools, Forex.com’s powerful web-based platform delivers simplicity, speed, and reliability. It may be accessed from any browser on a PC or Mac, and there are no plugins or downloads necessary. Here are some remarkable features that traders enjoy while trading with Forex.com’s WebTrader:

Mobile Trading Platform

You’ll never miss a market move with Forex.com’s mobile trading platforms. The broker’s mobile trading platform provides a complete trading experience at their fingertips, allowing traders to manage their accounts and trade on the go using their iOS and Android devices. Forex.com’s mobile trading provides access to full robust trading features, risk management options, advanced TradingView charting and real-time analysis, integrated fund management, and more. Here are some considerable features of the mobile trading platform:

MetaTrader 4

Forex.com is also the largest MetaTrader 4 (MT4) broker globally, with specialised support and integrated trading tools available only to its customers. Many people consider MT4 one of the most popular and user-friendly online trading platforms, making it good for beginner traders. It also has enough complex features to please even the most professional traders. Traders can take advantage of the trustworthiness of tight spreads, outstanding trade executions, and unique trader features such as fully integrated news, Forex.com research, Autochartist Trade Ideas, Trading Central technical analysis, and account management tools. The MT4 platform at Forex.com has been tuned to work with all Expert Advisors (EA). With no third-party bridges or auto-sync, you can quickly and easily integrate your EA on their MT4 platform. Here are some notable features of the MT4 trading platform:

MetaTrader 5

MetaTrader 5 (MT5) is the platform that replaces MetaTrader 4. The MT5 platform retains all of the primary features and functions that made the MT4 platform so effective but adds new ones. More timeframes, order types, indicators, tools, simple market searches, and groups are available in this updated and improved version of MetaTrader. Over 500 markets are available to trade on MT5, including stocks, forex, cryptocurrencies, commodities, and indices.

Trading View

The traders at Forex.com can enhance their technical trading with a comprehensive set of customisation options that allow them to create workspaces that are tailored to their own trading style for efficient analysis. Forex.com uses TradingView to provide industry-leading charts. Trading from charts allows customers to quickly and simply create and change orders from the charts. Over 70 technical indicators can be customised to fit their trading style and help them spot possible trade opportunities. Traders can choose from over ten different time frames to find short and long-term trades. Everything from technical indications to sketching tools may be customised to personal preferences, and templates can be saved for future use.

VPS

Qualifying clients can get a free virtual private server (VPS) from Forex.com. MT5 trading platforms are already installed on VPS. Clients who want to operate their EAs 24/7 during trading hours without managing them on their own PCs should use a VPS. For optimal reliability, they feature a dedicated Unix server for running EAs. With a quick and secure account manager, you can effortlessly upload and manage your EAs, and you can access your account from any OS with a web browser. To be eligible for free VPS hosting, a Forex.com customer must maintain a minimum balance of $5,000 in his account. Each calendar month, he must trade at least 10 round trip mini lots or the equivalent.

Forex.com Platforms Summary

Forex.com does an excellent job of centralising and organising its research within the Advanced Trading interface so that traders can readily access it. Multiple news channels, Trading Central’s automated pattern-recognition modules, and Forex.com’s worldwide research team’s blog updates are all available within the trading platform. Reuters news feeds are available, and an economic calendar is available throughout the site and platforms. The broker publishes a variety of high-quality written material every day, covering a wide range of markets and sectors, as well as weekly postings like the “Currency Pair of the Week” and “Week Ahead” series. Every day, there are several pieces from the firm’s in-house analysts and information from third-party sources. Aside from well-presented trading guidelines, Forex.com offers a variety of lesson films on a variety of trading themes. They’re simple to understand and can be found on the education section of the broker’s website. Forex.com offers knowledge enriched beginner, intermediate and advanced trading courses for all sorts of traders. Each course covers a wide range of topics, including trading fundamentals, technical analysis, fundamental analysis, trading methods, risk management, and more. The broker also provides basic to advanced information regarding trading, forex and cryptocurrencies.

Forex.com Research and Education Summary

Forex.com offers a variety of deposit and withdrawal options. Credit/debit cards, wire transfers, and electronic wallets all come in handy while trading with this broker. The broker has six account base currencies for its customers from all over the world: USD, GBP, EUR, CHF, JPY, and NZD. The broker does not charge any conversion fee. The transaction can take anywhere from instantly to 3-5 business days to complete. It depends on the payment method used by the customers. On the other hand, the broker does not offer cryptocurrency wallets, and it does not accept cryptocurrencies as a payment method. It would be fantastic if the broker had room for cryptocurrencies as a mode of payment.

Forex.com Funding Summary

The Financial Conduct Authority (FCA) in the United Kingdom authorises and regulates Forex.com. Clients can be confident that they are dealing with a respectable trading broker who will safeguard their investments because a respected institution regulates them. Other regulators such as the Investment Industry Regulatory Organisation of Canada (IIROC), Financial Services Authority (FSA) in Japan, Australian Services and Investments Commission (ASIC), Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) in the US and Cayman Islands Monetary Authority (CIMA) also regulate the broker in their jurisdictions. This makes the broker come on top among its competitors.

Forex.com Regulation Summary

Forex.com Safety

Forex.com places a high focus on the security of its customers’ information. Client investments are kept in separate bank accounts than the operating costs of the broker. To guarantee that client assets are kept separate, trust letters are provided. Forex.com does not engage in proprietary trading and only uses its own funds for hedging. The broker’s parent company StoneX Group Inc is listed on the NASDAQ stock exchange and is well-reputed. Therefore the financial information of the company is publicly available. However, the broker does not have a banking license which is the only thing it lags in. Otherwise, the broker is top-tier in customer’s safety.

Forex.com is dedicated to assisting traders along their journey and provides outstanding customer care to new and existing customers by email, online chat, and phone. Customer support is available for 24/5. So the customers having a problem are only responding during weekdays, which might cause issues for some traders.

Forex.com is a fantastic forex and CFD broker authorised by various financial regulators, including the FCA and the CFTC. Traders can trade forex CFDs with very low fees and stock CFDs with comparatively high trading fees. The broker offers the right trading environment with its multiple trading platforms across a handful of devices. On the negative side, the broker does not offer real shares, bonds or options to trade.

Forex.com Review

Minimum Deposit: $100

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