The History and Founding
FOREX.com was founded in 1999 and is part of one of the most prime online trading services providers - GAIN Capital Group. Over time, FOREX.com established itself as one of the most respected and oldest brokers in the industry, with offerings extending to forex and CFDs on a retail as well as institutional level.
Mission and Vision
Enable trade by giving cutting-edge, reliable execution facilities to empower one's reach towards global financial markets and distinguish by providing exceptional service. FOREX.com has two objectives: to provide the tools necessary for traders to interpret the dynamic, ever-volatile market trends for self-enlightenment and to reach their ambitions.
Coverage
FOREX.com serves clients across 180-plus global locations, and it is also authorized by some of the top-tier-most regulatory bodies in the field. Service has been localized where necessary, and support is multilingual while structured so as to suit the requirements of the clients in the respective regions.
Strengths and Weaknesses
Key Strengths
- Strong regulatory oversight
- A wide range of tradable instruments
- High-quality trading platforms
- Excellent market research and educational content
Criticism
- Higher spreads compared to some low-cost brokers
- Inactivity fees
- Geo-Restrictions
Security and Regulations
Licenses Held
FOREX.com is a regulated broker under FCA in the UK, CFTC in the United States, ASIC in Australia, and MAS in Singapore. This takes account of financial standards that must be fulfilled very strictly.
Segregated fund and insurance
Client funds are deposited in top-tier banks separately to ensure safety. Again, some types of retail traders in jurisdictions are not able to have access to negative balance protection.
Resources
Forex Pairs
More than 80 pairs to trade, comprising major, minor, and exotic currencies, all supported with tight spreads and high liquidity.
Commodities
Investment in commodities such as gold, silver, oil, and natural gas creates the promise of diversity.
Indices
Trade with your account on a variety of excellent global indices, including NASDAQ, S&P 500, FTSE 100, and DAX, under competitive conditions and very fast execution.
Cryptocurrencies
FOREX.com makes selected cryptocurrencies such as Bitcoin, Ethereum, Ripple, and Litecoin available for trading.
Shares
Invest with a CFD in stock from major market companies in Europe, the USA, or the UK.
Types of Accounts
Standard
| Minimum deposit | 0 |
|---|---|
| Commission | 0.2 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:400 |
Rates and Fees
Spreads and Commissions
The mediums of charges are relatively cheaper: 1.0 pips are laid down for standard accounts and zero for commission accounts. Commissions, equal to $5 every 100k traded, are required by commission accounts.
Swap Rates
These are applied with an overnight swap rate for everything held overnight. The trading platform has neatly arranged details for swap rates for customers.
Inactivity Fees
Amounts of $15 per month are deducted in the case of dormant accounts.
Trading Platform
FOREX.com Web Trader
FOREX.com's very own proprietary platform represents more than just an interface that is easy to comprehend - it is innovative. Noted features include higher value charting complexities and a comprehensive package for risk management.
MetaTrader 4 and 5
Supported by MT4 and MT5, advanced trading capabilities such as custom indicators and a range of technical tools are offered, together with automated trading.
Mobile Trading Apps
FOREX.com offers digital tablets for iOS and Android that allow clients to take their brokered relationship on the move and in real-time with updated appearances.
Advanced Trading Platform
Advanced Trading Platform is a professional trader's paradise with deep market insights, a customized set of tools, and advanced order types.
Customer Support
Ways to sign up
You need to fill out the online form on the website and go from there - primary selection of an account type, and you also have to submit all the supporting documents as requested for verification of the account.
Documents Required for Verification
You have to present a utility bill or bank statement for proof of address and passport or government-issued identification for identity.
| Website | |
|---|---|
| Address | 44 Wall Street, 7th Floor, New York, New York 10005 |
| Headquarters | United States |
| Telephone | International: +1.908.315.0653 UAE: +9718000321278 Colombia: +5718005189122 |
| Customer support | 24/5 - phone, email, chat |
| Partner programs | Yes |
Deposits and Withdrawals
Options for Payments
It goes one step further by offering many more ways for pay, from bank transfer (including direct credit/debit) to PayPal and Skrill.
Time to Process payments
The deposits are immediate, but it takes about 1-3 days with their given methods of payment.
Associated Fees
On deposits, for the most part, is free but withdrawal would entail charges in most cases. The actual costs are given in the related part of the website.
FAQ
Is the broker regulated?
Yes, FOREX.com is regulated - and that too by FCA, CFTC, ASIC, and MAS.
What are the platforms to trade on?
FOREX.com Web Trader, Advanced Trading Platform, MetaTrader 4, and MetaTrader 5, and its mobile apps are among those traded on.
How much is the least minimum down payment required for starting an account?
Less than or equal to $100 is always the minimum sum of money you can pay to open a balance in most types of accounts.
What types of accounts does the broker offer?
The broker offers Standard, Commission, DMA, and demo accounts on offering the multitude of trading opportunities to traders.
How much do you get to pay as fees and commissions?
They cover the expense of spreads, fee structures for Commission Accounts and all swap rates applicable to overnight positions, and last, if not amongst the least, costs of account inactivity.
How big is the leveraged force maximum?
Leverage is up to 1:30 for the retail or professional clients under ESMA Agreements, whereas higher-geared debts are allowed for professional traders.
Do you provide demo accounts?
Yes, customers are given an opportunity to practice and improve their trading strategies with virtual funds risk-free through the provision of a demo account.
How to reach the customer support department?
Customer service representatives are reachable across the globe through chat, email, or phone 24/7, although help is available in several languages during trading hours.