Review

Overview

Forex.com is a hard company to not trust. We could talk about their two decades of experience and knowledge, but it seems more important that the biggest thing to come… more

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Full Review

Forex.com is a hard company to not trust. We could talk about their two decades of experience and knowledge, but it seems more important that the biggest thing to come out of the company in a long time is Bitcoin CFDs. A true “Global Market Leader”, Forex.com is in over 140 countries and remains one of the largest forex brokers in U.S.A.

Owned by GAIN Capital Holdings, Forex.com is based out of Bedminster, New Jersey. Clearly displayed by their Bitcoin CFDs offering, this broker is constantly expanding their offering portfolio substantially. 200 global markets, 84 currency pairs, 65, shares and 17 indices, is the definition of a Global Market Leader.

Spreads, Commissions, and Leverages

Forex.com is a competitive broker when it comes to the spreads offered. Their spread prices have actually fallen significantly over the course of last year. Much like their competitors. Forex.com works commission-free, by adding their fees into the spreads. Even with that considered, their spreads do blow some of their biggest competitors out of the water.

If you are interested in trading on a leverage, Forex.com allows traders to choose between 30:1 to 200:1 leverage based on location. There is definitely some money to be made with those spreads.

Regulations and Security

Forex.com is one of the most heavily regulated and transparent forex brokers in the world. GAIN Capital Holdings the owner of Forex.com is a global player and thus is regulated in several countries across the globe.

  • Financial Conduct Authority (FCA) UK
  • Commodity Futures Trading Commission (CFTC) USA
  • Financial Services Authority of Japan
  • Australian Services and Investments Commission (ASIC)
  • Futures Commission of Hong Kong
  • Regulatory Organization of Canada
  • Monetary Authority in Cayman Islands

With this many regulations Forex.com is easier to trust than most of their main competitors. Constant audits and reviews that GAIN Capital Holdings goes through is enough to convince most people that they are not becoming victims of fraud by trusting the wrong broker.

Banking

Forex.com offers the same two options for depositing and withdrawing your money. debit/credit cards and wire transfers are the two choices available and both work quite fast and should be sufficient for your needs.

Accounts

This broker from 1999 offers a variety of account types for users around the world. Your choices of accounts are: Standard, Active Trader, and Direct Market Access (DMA). Each account comes with a different minimum requirement, Standard Account requires only $50 USD to open, while a DMA Account will require a deposit of $100,000 USD to access.

DMA Account is made for more institutional traders than the retail trader. Active Trader account has multiple levels of discounts based on your usage and trade activity. Each level will gain you slightly better spreads and better discounts, however there is geographical lock on this program so it is important to contact the broker before applying.

Trading Platforms

When choosing a trading platform, your account type will have an important part to play. DMA and Active Trader accounts do not have access to MetaTrader 4. Standard account holders have their choice of MetaTrader 4, FOREXTrader PRO and Web Trading. DMA accounts gain access to the Direct ECN Platform, which comes with all the toys and whistles you expect from a minimum deposit of $100,000. Active Trader accounts run on FOREXTrader Pro, the flagship platform offered by Forex.com. All accounts come with a variety of charting tools, graphs and historic information to help you make the best trades with your money.

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