FOREX.com

Forex.com Gain Capital review
Payouts:
Min Deposit: $50

Forex.com

  • Online Since 1999
  • Spread as low as 0 pips
  • Leverage Up to 1:400
  • 5 Digit (5 Decimal Pricing)
  • MetaTrader 4, FOREXTrader & WebTrader Platform
  • Regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA
  • Scalping, Hedging, EA Robot, News Trading allowed
  • Payment options : Bank wire transfer, credit cards
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Details

Broker Forex.com
Website URL https://www.forex.com
Founded 1999
Headquarters London, UK
Support Types Chat , Email , Telephone
Languages English
Trading Platform MT4, FOREXTrader & WebTrader
Minimum 1st Deposit $50
Minimum Account Size $50
Minimum Trade Amount 0.01
Leverage up to 400:1
Spread Starting 0 Pips
Free Demo Account Yes
Regulated Yes
Regulation FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA
Deposit Methods Credit Card , Wire Transfer
Withdrawal Methods Credit Card , Wire Transfer
Number of Assets More than 80 Pairs
US Traders Allowed Yes
Mobile Trading Yes
Tablet Trading Yes
Overall Score 9.41

Why Must Trade in Forex.com Broker ?

  • Online Since: 1999
  • Spread : Starting 0 Pips
  • Leverage Up to 1:400
  • 5 Digit (5 Decimal Pricing)
  • Platform : MT4 for PC, MAC, iPhone, iPad and Android, FOREXTrader & WebTrader
  • Regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA
  • Scalping, Hedging, EA Robot, News Trading allowed
  • No Commission
  • Payment options : Wire Transfer, Credit Cards
Free $100 Forex No-Deposit Bonus

Click Here to Open Account Forex.com

Review of Forex.com

Forex.com is currently one of the most popular forex brokers in the US. This trading platform is owned and managed by GAIN capital holdings, a financial services company that has been operational since 1999 and listed on the New York stock exchange. In the UK, forex.com is regulated by the financial conduct authority and several other jurisdictions worldwide. Here is a full review of the platform.

Platforms

Other than the XM, forex.com has several other useful trading platforms. One of the platforms is the MetaTrader 4, which gives traders several trading options like mobile trading for Android and iPhone. The MT4 platform is excellent in trade executions, personalized customer service, and tight spreads. As a trader, you can select approximately 77 CFD and forex markets as well as taking advantage of several other integrated features like extensive technical research, streaming news, trading central in-house analysis and pattern recognition software. You also get advanced charting through the Dealbook platform which is available for download on Android and IOS.

Deposit and withdrawals

The minimum deposit on forex.com account is 50 USD. The site, however, recommends that you maintain an excess of the minimum deposit so that you are not prohibited from trading certain products that may be way above the minimum deposits. Forex.com accepts funds via credit and debit cards as well as bank transfers. They accept currencies in GBP, USD, AUD, CAD, JPY, CHF, and EUR. Withdrawals are also done using the same methods of payment options. Withdrawals typically take a maximum of 48 hours to process and the maximum amount you can withdraw with a debit/credit card is 100,000 USD. With wire transfer, you can do unlimited withdrawals.

Spreads and commission

One of the key benefits of the forex.com broker is that it offers low commissions on trading. This means that forex.com gets compensation for its services as profit. That is why its variable spreads aren’t among the tightest in the market. The average amount is 1.8 pips on USD/EUR pair. Nevertheless, you get to access a variety of trading platforms with super-fast execution speeds of up to 0.005 seconds. Furthermore, if you have an active trader account, you may benefit from an average of 15% deduction on your general standard spreads. Spread on the active trader account may be as low as 0.7 pips on USD/EUR, which guarantees you a reduced trading cost and no charges on account fees on the forex trader platform.

Account types

Forex.com has two main account types that seek to appeal to a range of traders – standard account and a commission account. With a standard account, you get to enjoy ultra-competitive spreads without any commission on forex trades. With the commission account, you get to enjoy the tightest spreads available which include USD/EUR of 0.2 and above and a commission of 5USD for every $100,000 on forex trades. A major drawback is that the commission account isn’t available on MT4. So, if you opt for this account, you will have to use it via the Forex.com platform. These accounts are independent of each other. Once you open a standard account, you can’t change it to commission account.

Forex.com demo accounts

Forex.com offers a demo account just as any other forex broker. Unlike live trading, the demo account uses virtual money. Therefore, you stand no risk of losing your money. The demo account is designed to help you familiarise with the platform, learn how trading is done and get to know how to use other tools in the platform. Forex.com demo accounts last for a full month after sign up which is enough to sharpen your skills on the platform.

Asset coverage

Forex.com gives you access to shares, cryptocurrencies, equity indices, currencies commodities, and metals. If you opt for the propriety trading platform, you get access to over 80 currencies, 11 commodities, 10 metals, and 17 equity indices and over 200 shares. Unfortunately, the MT4 platform doesn’t give access to shares but you will still access all the others except for 7 commodities. Additionally, forex.com offers bitcoin trading with the ability to trade against EUR, GBP, AUD, and USD.

Customer service

Forex.com has an excellent and efficient customer support service. Their customer support is available all day and all night via live chat and telephone as well as email. The live chat can be reached by clicking on the chat tab at the bottom left. They accept trade orders via telephone during market hours.

Conclusion

Forex.com is an excellent forex broker. It has a super responsive website that is user-friendly that is easily understandable to traders of all level of experience. Furthermore, other than forex trading, the platform offers other trading options like cryptocurrencies and popular commodities. In general, Forex.com is a good trading option with numerous benefits.

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