Forex.com | Review | CFD Trading Platform

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Forex.com | Review | CFD Trading Platform Review

Our Review

Forex.com

Find all you need to know about Forex.com Trading Platform.

Topics

1.What is Forex.com Broker?
2.10 Points Summary
3.Awards
4.How protected Are You with Forex.com?
5.Is Forex.com Safe or a Scam?
6.Accounts
7.Trading Instruments
8.Trading Fees
9.Trading Platforms
10.Deposit And Withdrawal Options

What is Forex.com?

Forex.com started its journey back in 2011. GAIN Capital Group LLC is the owner of the broker. The regulation of Forex.com is held by many authorized organizations of the United States. When traders register themselves with Forex.com, they get a wide variety of trading instruments like Forex, Silver, Gold, and Commodities.

To protect the trader and make the trading environment more comfortable, Forex.com has set all the terms and conditions as customer-friendly. Forex.com also held many educational events to educate its traders. Learn much more about Forex.com in this article.

Pros	Cons
Various base currencies available	Withdrawal fees
Custom Trading platform available	Not available 24/7
Customer-friendly policies
Low commission fee

10 Points Summary

Headquarters	US
Regulation	IIROC, FCA, ASIC, and CFTC
Platforms	MT4, MT5, Custom trading platform, Ninja Trading Platform
Instruments	Forex Currency pairs, indices, Stocks, Metals, and commodities
EUR/USD Spread	1.2 pips
Demo Account	Available
Minimum deposit	$1000
Base currencies	Various currencies available
Education	Available
Customer Support	24/5

Awards

If Forex.com is known as a multi-award winner broker, then it is only because of its performance quality and customer services. Till now, Forex.com has won many international awards. Check the list below.

Best Forex Fundamental Analysis Provider by The UK Forex Awards

Best Education by Online Personal Wealth Awards

Best Mobile App/Platform by Investment Trends, The UK Leverage Trading Report Awards

Best Forex Service Provider by Shares Awards

Best CFD FX Provider & Best Trading Analysis Provider by Online Personal Wealth Awards

How Protected Are You with Forex.com?

Forex.com is one of the most trusted brokers present globally. But to be honest, this is not enough to believe in it. But Forex.com knows very well how to satisfy the traders and how to make them believe in its authenticity.

Forex.com has applied all the policies in a customer-friendly manner. The moment you sign in with the broker, you get a 100% guaranty for the protection of funds and data. Along with that, Forex.com also offers negative balance protection and hedging. All the trading instruments and platforms are also easy and simple to use. The available leverage level is up to 1:500.

Is Forex.com Safe or a Scam?

Is it safe to believe in Forex.com, or it is only a waste of time? Forex.com is surely safe to use, as the broker is regulated by one of the most trusted and authentic organizations of the United States, “GAIN Capital Holdings”.

This broker is also following all the laws and principles according to the United States policies.

Along with that, Forex.com is also a part of StoneX Group Inc. This evidence is enough to make you believe in the authenticity of Forex.com. For the trading purpose, Forex.com is one of the best choices.

Accounts

The main goal of Forex.com is to provide ease to every of its trader. And to do this, Forex.com is sweating its blood and sweat. To provide safe, transparent, and easy trading, Forex.com offers three types of accounts, Standard Account, STP Pro Account, and Commission Account. These account types are based on the experience levels of traders.

Standard Account: For beginner traders, nothing can be better than Standard Account. Standard Account offers you to trade on the MT4 platform and also provides 82 Forex currencies pairs. The minimum deposit amount for this account is $1000. Other trading benefits you get with this account are, earn interest, renounced wire charges, cash refunds, API trading, and 0$ commission fees.

STP Pro Account: The second type of account Forex.com offers is STP Pro Account. The minimum deposit required is $25,000. If you have trading experience, then you can sign in because it’s only for experienced ones. 60 Forex currency pairs are also offered. There is a commission fee on this account.

Commission Account: The last type of account Forex.com offers is Commission Account. This account also requires a minimum deposit of $1000. The negative point on this is that you have to trade with a custom trading platform only, as MT4 is not supported for this account. The commission doesn’t apply on this account as well, and you also got the same benefits as the Standard Account.

Forex.com also supports Islamic Account. If you want to have one, then you have to contact the support system.

Trading Instruments

Ready to hear the biggest news? Forex.com has more than 4,500 trading instruments. The broker provides both, Forex and CFD instruments. The CFD instruments are, however, highly risky due to their high level of leverage. The list of instruments is mentioned below but remembers that they are not available for clients.

Forex: Forex.com offers up to 80 Forex currency pairs to its traders. The major currency pairs available are AUD/USD, GBP/JPY, EUR/USD, USD/JPY, and EUR/GBP.

Indices: Forex.com offers the world’s popular indices including products across Europe, the United States, Australia, and Asia.

Stocks: Forex.com provides a large number of Stocks to its traders. You can easily trade with more than 4,500 Stocks with Forex.com.

Crypto-currencies, Commodities, Futures, and Precious Metals such as silver and gold are the other trading instruments offered by Forex.com.

Trading Fees

The news we have for you here is that Forex.com charges fees. The fee is commission-based. If you trade with Forex and CFD instruments, then you have to pay a $5 commission fee per lot. For orders that are detained after 5 pm, overnight fees are applied to them.

The rollover fee is also applied, but it depends on the type of instrument you use. For instance, if you held an order on EUR/USD Forex currency pair, and the exchange rate is around 0.817/1.28, you have to pay $1.28 on 1000 EUR.

If the account remained inactive for almost 12 months, you have to pay an inactivity fee of $15 per month.

Pros	Cons
No charges on deposit	Have to pay rollover fees
Low commission fees	Overnight fee applies
	The inactivity fee is $15 for each month

Trading Platform

A total of three trading platforms are offered by Forex.com, Meta-Trader 4, Meta-Trader 5, and Custom trading Platform.

Account-holders of Commission and STP Pro Account don’t have the opportunity to use the MT4 platform. They are only able to use the Custom Trading platform. The custom trading platform offers advanced trading tools and features. This platform is available on Web, desktop, and mobile versions.

Meta-Trader 4 platform is only supported for standard account holders. The MT4 is smooth in performance and has no commission fees. Along with these platforms, Forex.com also offers the Ninja Trading Platform for free.

Pros	Cons
Smooth running platforms	MT4 is available only for Standard account holders
Free Ninja Platform available
Custom Trading platform available

Deposit and Withdrawal Options

We already have mentioned that the minimum deposit required is $1000, and the maximum is $50,000. The methods from which you can deposit the amount are as follows.

Debit Card

Bank Wire Transfer

Credit Card

The credit and debit card depositions are instant, while wire transfer takes up to 1 business day. Withdrawal through wire transfer charges up to $25. Withdrawal of more than $10,000 is, however, free.

Pros	Cons
Bonuses available	Withdrawal fees
Low commission	Have to pay $25 if the withdrawing amount is less than $10,000
No deposit fees

Education

Forex.com is providing educational material to its traders in the form of videos, tutorials, pictures, courses, and quizzes. The course provided by Forex.com covers the following topics.

• Pips

• Leverage

• Spreads

• Marketing Strategies

• Basic Knowledge of trading

Tips to expand the trading game

These materials are proving helpful for many beginner traders.

Pros	Cons
High-quality educational material	None
Helpful courses for beginners

Customer Support

Have any queries? Then Forex.com customer support is here for you. Forex.com support is available 24/5. The service is available for the whole day from EST 10 am Sunday to Friday EST 5 pm. For further queries, the FAQs section is also present. You can have their services in the following ways.

• Live Chat

• Email

• Phone

Customer support is also available in multiple languages.

Pros	Cons
Typical replies within hours	Not available 24/7
Supportive staff
Live chat agents are professional

Conclusion

Throughout this whole review article, we found Forex.com as an authentic, trustworthy, and advanced broker. If you are serious about trading, Forex.com is a good option.

If trading is new for you, then you can earn money and experience through a Standard account. The minimum deposit required for this account is $1000 with $0 commission charges.

Frequently Asked Questions (FAQs)

What are the trading platforms offered by Forex.com?

MetaTrader4 and a custom trading platform offered by Forex.com

Do clients from the US can apply on Forex.com?

Yes, you can apply even if you belong to the US.

What is the minimum deposit amount requirement?

$100 is the minimum deposit requirement.

Is there any fee on deposit and withdrawal?

Forex.com charges $25 via wire transfer.

How many accounts are offered by Forex.com?

Standard, Commission, and STP Pro accounts are the three account types offered by Forex.com.