| Broker Details |
Forex.com |
|---|---|
| Founded Year | 1999 |
| Minimum Deposit | $1000 |
| Maximum Leverage | 50:1 * |
| Address | 30 Independence Blvd, Suite 300 (3rd Floor) Warren, NJ, 07059, United States |
| Contact | support@forex.com, 1.877.367.3946 |
| Customer Support | Live Chat, Email, and Phone |
| Regulators | CIMA, FCA, FSA (Japan), NFA, IIROC, ASIC, CFTC |
| Prohibited Countries | United States (for certain types of trading, depending on regulatory specifics), Belgium, North Korea, Iran, Syria, Cuba, Sudan, Myanmar, Crimea Region, Afghanistan, India, China, Nigeria, South Korea, Taiwan, Belarus, Indonesia, Malaysia, France, Bosnia and Herzegovina, Israel, Pakistan |
| Trading Platforms | MT4, MT5, FOREX.com |
| Dealing Desk | ✅ Yes |
| ECN | ✅ Yes |
| Margin Call / Stop Out: | |
| Web Trading | ✅ Yes |
| Mobile Trading | ✅ Yes |
| Currencies | (80+) |
| Cryptocurrencies | (5+) Bitcoin |
| CFD | (25+) Stocks, Stock Indexes, Bonds, Oil, Other Commodities, Futures |
| EAs/Robots | ✅ Yes |
| News Trading | ✅ Yes |
| Scalping | ✅ Yes |
| Copy Trading | ✅ Yes |
| Deposit Methods | Bank Wire (BankTransfer/SWIFT), ACH (Automated Clearing House), ACH Payments (echeck) |
| Withdrawal Methods | Bank Wire (BankTransfer/SWIFT), ACH (Automated Clearing House), ACH Payments (echeck) |
Pros
- Orders are executed super fast, with an average time of just 0.04 milliseconds.
- Highly reliable as it’s regulated by multiple authorities, and customer funds are kept separate from the company’s assets.
- Offers tight spreads on 90+ assets like currencies and metals, plus access to over 4,500 markets, including FX, indices, commodities, stocks, and cryptocurrencies.
Cons
- The website is poorly optimized; finding information is tricky, and many tabs don’t work—users often need to rely on the “Sitemap.”
- Customer support can be hard to reach due to high demand.
- Withdrawals come with a large fixed commission fee.
- The minimum deposit is high, starting at $1,000.
- Limited deposit and withdrawal options, and processing times often don’t match the promised timelines.
Forex.com Review: Safety, Platforms, and Everything in Between
Forex trading can be thrilling, but let’s be honest—choosing the right broker can feel like navigating a maze blindfolded. One name that’s been around for years is Forex.com. But is it the shining beacon you’ve been searching for, or just another broker with flashy ads? Let’s break it all down in this detailed review.
What Is Forex.com?
Forex.com is a global forex and CFD broker that’s been in the game since 2001. Owned by GAIN Capital Holdings, it’s a well-established name trusted by thousands of traders worldwide. But does experience alone make it the best choice? Let’s dig deeper.
Is Forex.com Safe and Reliable?
Safety is a top priority, right? Forex.com is regulated by multiple top-tier regulators like the FCA (UK), CFTC (US), and ASIC (Australia). This means your funds are handled securely, and the company must follow strict rules.
Plus, customer funds are kept in segregated accounts—fancy talk for “your money is separate from theirs,” so even if the company hits a rough patch, your funds stay safe.
Account Types: What’s on Offer?
Forex.com offers three main account types:
- Standard Account: A simple, spread-based account perfect for beginners.
- Commission Account: Designed for advanced traders, offering lower spreads but with added commissions.
- DMA Account: For pros who need direct market access and ultra-tight spreads.
No matter your level, there’s an option to suit your needs.
Trading Platforms: A Choice Between Tradition and Innovation
Forex.com provides access to some of the best platforms in the industry:
- MetaTrader 4 (MT4): The tried-and-true classic for forex trading.
- MetaTrader 5 (MT5): A modern upgrade with additional tools and features.
- Forex.com Web Trader: Their proprietary platform, user-friendly but not as customizable as MT4/MT5.
You can trade on desktop, mobile, or even directly in your browser.
Markets You Can Trade
Forex.com isn’t just about forex trading—it offers over 4,500 markets to explore:
- Forex: Major, minor, and exotic currency pairs.
- Indices: Trade on global indices like the S&P 500 and FTSE 100.
- Commodities: Includes metals like gold and silver, plus energy assets like oil.
- Stocks: Access thousands of individual stocks.
- Cryptocurrencies: Popular coins like Bitcoin, Ethereum, and Litecoin.
This wide range makes Forex.com a versatile choice for traders looking to diversify.
Spreads and Fees: What Will It Cost You?
Tight spreads are a major selling point for Forex.com. You can get spreads as low as 0.1 pips on major pairs with their DMA account.
However, commissions apply to some accounts, and withdrawal fees can be hefty depending on the method you choose. Always read the fine print so you’re not caught off guard.
Execution Speed: Lightning Fast or Slow as a Snail?
Forex.com boasts an average order execution speed of just 0.04 milliseconds. That’s faster than you can blink! This ensures your trades are executed at the best available price, which is crucial in a fast-moving market.
Deposit and Withdrawal Options
While deposits are straightforward, the limited withdrawal options can be frustrating. Credit cards, wire transfers, and PayPal are available, but you might face delays or fees. And don’t forget—the minimum deposit starts at $1,000, which could be a dealbreaker for some beginners.
Customer Support: A Mixed Bag
Forex.com’s support team is knowledgeable, but reaching them can be a hassle. High demand means longer wait times, and if you’re not fluent in English, communication can be challenging.
Educational Resources
Forex.com shines in this department. They offer:
- Webinars
- Trading courses
- Market analysis and reports
Whether you’re a newbie or an experienced trader, there’s plenty to learn here.
Who Should Use Forex.com?
Forex.com is ideal for traders who value safety, fast execution, and access to a wide range of markets. It’s best suited for experienced traders or those ready to make a substantial initial deposit.
If you’re a beginner looking for low-cost entry or hassle-free support, you might want to look elsewhere.
Final Thoughts
Forex.com has built a solid reputation over the years, and for good reason. It offers a reliable trading experience with plenty of options for seasoned traders. However, its high minimum deposit, withdrawal fees, and limited support can be off-putting for some.
Ultimately, whether Forex.com is right for you depends on your trading style, experience, and budget.
As a beginner, I learned a lot from Forex.com’s resources. It’s a reliable broker that’s helped me get better at trading.