no active bonus
|Headquarters||Park House, 16 Finsbury Circus, London|
|Support Number||Int'l: 1.908.315.0653, select option 1|
|Support Types||Phone, email, Live Chat|
|Trading Platform||MetaTrader 4, FOREXTrader PRO, Gain Capital GTX ECN Platform|
|Minimum 1st Deposit||$50|
|Minimum Account Size||none|
|Minimum Trade Amount||$1|
|Maximum Trade Amount||none|
|Bonus||no active bonus|
|Payout||within 7 business days|
|Leverage||1:1 up to 1:30|
|Spread||Low variable spreads|
|Free Demo Account||Open Demo|
|Regulation||– Australian Securities and Investments Commission (ASIC) – Canada’s Financial Services Agency (FSA) – Commodity Futures Trading Commission (CFTC) – Investment Industry Regulatory Organisation of Canada (IIORC) – National Futures Association (NFA) – Securities and Exchange Commission (SEC) – Securities and Futures Commission (SFC) in Hong Kong|
|Account Types||Demo Account, Standard Account, Premium Account|
|Deposit Methods||wire transfer, credit card, Debit cards and PayPal|
|Withdrawal Methods||wire transfer|
|US Traders Allowed|
In this Forex.com Review of 2019 we are going to look at the pros and cons of trading with Forex.com.
Forex.com is one of the biggest online brokers worldwide. Their trading platform is managed by a holding company called the GAIN Capital Group. The Gain Capital Group is a direct competitor to FXCM on the American market. Well known with it’s traders, Forex.com is one of the better online forex brokers for forex traders.
One of the best features of trading at forex.com is the great educational material, expert advisor (EA) hosting, low spreads, free market research and 24/7 access to customer support.
Forex.com Reliability – Is Forex.com a Scam?
You probably Googled something like Forex.com review or Forex.com scam, so let’s find out, shall we?
Under the brand GAIN Capital Holding Inc, Forex.com is market leader in online forex and CFD trading. Established in 1999, Forex.com has 19 years of experience in offering retail trading services to individual traders.
GAIN Capital Holdings Inc. is listed on the New York Stock Exchange under the ticker symbol GCAP and has $1.3b in capital. All clients together have about $1b on their Forex.com accounts. With cash and liquid assets available of more than $200m, traders don’t need to be scared that Forex.com would ever face financial problems or become insolvent.
Apart from having the capital, clients at Forex.com enjoy the fact that the broker has licenses in multiple jurisdunctions. Forex.com maintains a high standard, which is important for traders. Forex.com’s head office is based in the United Kingdom at Park House, 16 Finsbury Circus, London.
Forex.com herefor falls under the jurisdunction of the English Financial Conduct Authority (FCA). For traders that trade at an FCA regulated broker counts that they are covered up to 85,000 GBP whenever the broker becomes insolvent.
Under supervision of the FCA, brokers like Forex.com have to file reports regularly and be audited yearly by a third party. These reports are used to check if brokers really segregate client’s accounts from their own tier 1 bank.
This is used as a safety measurement to ensure brokers won’t use their clients money to finance the brokers own costs. In other words, traders at FCA regulated brokers like Forex.com are in safe hands.
Like I said before, Forex.com has multiple licenses, these include:
– Australian Securities and Investments Commission (ASIC)
– Canada’s Financial Services Agency (FSA)
– Commodity Futures Trading Commission (CFTC)
– Investment Industry Regulatory Organisation of Canada (IIORC)
– National Futures Association (NFA)
– Securities and Exchange Commission (SEC)
– Securities and Futures Commission (SFC) in Hong Kong
It’s safe to say that Forex.com, established over 19 years already and having licenses all over the world is a reliable forex broker.
Forex.com trading platforms
Forex.com has two types of trading platforms for their traders available.
MetaTrader 4 (MT4)
This is the most popular trading platform worldwide and has all the features and tools for traders to succesfully trade the stock market. Auto Trading is also possible on this trading platform. With the MetaTrader 4 trading platform traders have access to a wide variety of CFD contracts and more than 45 forex markets.
The FOREXTrader PRO platform is a web-based trading platform which is fully custimisable according to the trader’s needs. The platform is specially designed to trade forex and has advanced tools like pattern recognition software, signal services and advanced charting.
Both the MT4 and FOREXTrader PRO platforms are downloadable on PC, smartphone and tablets.
Now, there is actually a third trading platform available at Forex.com which is the Gain Capital GTX ECN Platform, which is specially designed for high net worth professional traders and institutional clients. With GTX ECN, traders enjoy ultra low spreads, transparant pricing and deep liquidity.
Forex.com account types
On Forex.com traders can choose to sign up for a standard trading account or premium account. The minimum deposit required at standard accounts is $500. Traders need to accumulatively deposit $3,000 to gain access to all features. Premium accounts require at least $25,000 as a minimum deposit.
Forex.com commissions, spreads and fees
Like all other online forex brokers, Forex.com doesn’t charge commissions for their services. They do however, charge a spread on the price traders get on the markets. The spreads are variable and competitive compared to other brokers. Spreads start as low as 1.2 pips on major pairs like EUR/GBP. For even lower spreads, traders will have to use the GTX Direct ECN Platform.
Forex.com customer service
To always be able to assist their traders, Forex.com offers their clients 24/5 support. The customer support team can be reached by email, fax, live chat and by phone.
Forex.com review conclusion
Forex.com is a famous broker in the retail forex industry. They have proven themselves as a reliable broker. Apart from Forex.com having multiple licenses, they offer traders superior features and a solid trading platform. Whoever trades forex, shouldn’t be to shy to take a look at the Forex.com website or sign up for an account with them. I hope you liked this extensive forex.com review and share it with your friends and or fellow traders.
- World leading forex broker
- ECN trading available
- Regulated broker in multiple jurisdunctions
- Solid financial backing from stock enlisted company
- Superior order execution and reliable trading platform
- Low spreads and fees
- Market Maker broker