Forex.com Review: The US Forex Broker Rated [2020 Update]

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Risk Warning: Your Capital is at Risk.

Forex.com Review Overview: A Beginner-Friendly Trading App

Forex.com is one of the most popular online brokers for trading on forex, Contracts for Difference (CFDs), spot gold and silver, as well as other derivatives.

Traders can choose between Forex.com's web-based trading platform or its robust mobile apps. Traders also have access to the popular industry standard MetaTrader 4 (MT4) platform.

The Forex.com parent company, GAIN Capital Holdings, has almost 20 years' experience offering innovative trading products and services to the online marketplace.

This Forex.com review will cover all of the important details about the broker and discuss its major advantages and disadvantages.

Quick Summary of Forex.com

Forex.com offers CFD trading on asset classes including forex, indices, shares, commodities, and cryptocurrencies.

Traders seeking a reliable, well-regulated broker that provides access to a solid menu of derivatives products may want to investigate Forex.com.

What's Good About Forex.com?What Could Forex.com Do Better?
Tick IconTrustworthy broker (we scored Forex.com 100/100 in our broker trust rating)Website only available in English and Chinese
Tick IconRobust mobile app for Android & iOSNo information on which languages offered by customer support.
Tick IconNearly 20 years' experience in global markets Demo account only available for 30 days.
Tick IconExtensive range of drawing tools and technical indicators available in the platform's charting section Demo account isn't linked to the live one
Tick IconGreat news and analysis offered
Tick IconFeatures a "Getting Started" tutorial which many other brokers overlook
Tick IconAvailable in over 150 countries
Tick Icon24/5 customer support via phone, email, fax, or live chat

Who is Forex.com Best For?

Forex.com is best for beginners and intermediate traders due to their focus on trading education, their startup tutorial, and 30-day demo account.

Advanced traders will find that using Forex.com on MetaTrader 4 is better suited to their style.

Fast Facts About Forex.com

Forex.com traders have access to more than 200 global markets including more than 80 forex pairs and shares of more than 90 companies.

Forex.com is the number one forex (FX) broker in the US, based on client assets per the 2019 monthly Retail Forex Obligation reports published by the CFTC.

 Forex.com
OverviewA global market leader in Forex trading.
Our Overall Rating
Broker Trust Rating100/100
Founded1999
Markets Forex, Spot Gold & Silver, CFDs: Indices, Shares, Cryptocurrencies, Commodities
Countries Served140+ (Full list below)
Minimum Deposit$100 or currency equivalent
Fees

  • Forex.com only charges commissions on shares CFDs.

  • Forex.com charges no deposit fees or withdrawal fees unless using CHAPS (£25).

  • [Fee details below.]

Major Regulator(s)Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Commodities and Futures Trading Commission (CFTC). (Full list below)
Customer Support24/5 email, phone, fax and live chat
Demo AccountYes

Start Trading Now at Forex.com

Risk Warning: 72% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Where Does Forex.com Operate?

Forex.com operates in over 140 countries including the UK, USA, Canada, Australia, Europe, Hong Kong, Japan, South Africa and most places where online trading is allowed.

IMPORTANT: CFDs are not available in the USA due to local regulation, and regulated brokers do not accept US citizens or US residents as clients.

However, US traders are welcome to trade Forex and Spot Gold and Silver.

See all the countries where Forex.com operates.

  • Aland Islands
  • Algeria
  • American Samoa
  • Andorra
  • Anguilla
  • Antarctica
  • Antigua (WI)
  • Antilles Netherlands
  • Argentina
  • Armenia
  • Aruba
  • Australia
  • Austria
  • Azerbaijan
  • Bahrain
  • Bangladesh
  • Belize
  • Benin
  • Bermuda
  • Bhutan
  • Bolivia
  • Bosnia and Herzegovina
  • Bouvet Island
  • Brazil
  • British Indian Ocean Territory
  • Brunei Darussalam
  • Bulgaria
  • Burkina Faso
  • Cabo Verde
  • Cameroon
  • Canada (No Cryptocurrency)
  • Cape Verde
  • Cayman Island
  • Chile
  • China
  • Christmas Island
  • Cocos (Keeling) Island
  • Colombia
  • Cook Islands
  • Costa Rica
  • Croatia
  • Curacao
  • Cyprus
  • Czech Republic
  • Denmark
  • Djibouti
  • Dominica
  • Dominican Republic
  • East Timor
  • Ecuador
  • Egypt
  • El Salvador
  • Estonia
  • Falkland Islands
  • Faroe Islands
  • Fiji Islands
  • Finland
  • French Guiana
  • French Polynesia
  • French Southern Territories
  • Gabon
  • Gambia
  • Gaza
  • Georgia
  • Germany
  • Gibraltar
  • Greece
  • Greenland
  • Grenada
  • Guadeloupe
  • Guam
  • Guatemala
  • Guernsey-Bissau
  • Guyana
  • Heard Island and McDonald Islands
  • Holy see (Vatican City State)
  • Honduras
  • Hungary
  • India
  • Indonesia
  • Ireland
  • Isle of Man
  • Italy
  • Japan
  • Jersey
  • Jordan
  • Kazakhstan
  • Kenya
  • Kiribati
  • Korea,Republic of
  • Kuwait
  • Kyrgyzstan
  • Lao People's Democratic Republic
  • Latvia
  • Lesotho
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Macau Special Administrative Region of China
  • Macedonia
  • Madagascar
  • Malawi
  • Malaysia
  • Maldives
  • Mali
  • Malta
  • Marshall Islands
  • Martinique
  • Mauritania
  • Mayotte
  • Mexico
  • Micronesia, Federated States of
  • Moldova, Republic of
  • Monaco
  • Montenegro
  • Montserrat
  • Morocco
  • Mozambique
  • Namibia
  • Nauru
  • Nepal
  • Netherlands
  • New Caledonia
  • Niger
  • Niue
  • Norfolk Island
  • Northern Mariana Islands
  • Norway
  • Oman
  • Palau
  • Palestinian Territory
  • Papua New Guinea
  • Paraguay
  • Peru
  • Philippines
  • Pitcairn
  • Poland
  • Polynesia
  • Portugal
  • Puerto Rico
  • Qatar
  • Reunion
  • Romania
  • Russian Federation
  • Rwanda
  • Saint Bartelemey
  • Saint Helena
  • Saint Kitts and Nevis
  • Saint Lucia
  • Saint Martin
  • Saint Pierre and Miquelon
  • Saint Vincent and the Grenadines
  • Samoa
  • San Marino
  • Sao Tome and Principe
  • Saudi Arabia
  • Senegal
  • Seychelles
  • Singapore
  • Sint Maarten
  • Slovakia
  • Slovenia
  • Solomon Islands
  • South Africa
  • South Georgia and the South Sandwich Islands
  • South Korea
  • Spain
  • Suriname
  • Svalbard and Jan Mayen
  • Swaziland
  • Sweden
  • Switzerland
  • Tahiti
  • Taiwan Region of China
  • Tanzania, United Republic of
  • Thailand
  • Timor-Leste
  • Togo
  • Tokelau
  • Tonga
  • Turkey
  • Turks and Caicos Islands
  • Tuvalu
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • United States Minor Outlying Islands
  • United States (Online FX, Spot Gold & Silver, no CFDs)
  • Uruguay
  • Vanuatu
  • Vietnam
  • Virgin Islands, British
  • Virgin Islands, U.S.
  • Wallis and Futuna
  • Zambia

Restricted Countries

The following countries are restricted in the Forex.com products available to their citizens:

CountryProducts AvailableNot Available
CanadaForex, CFDs on Indices, Shares, CommoditiesCFDs on Cryptocurrency
United StatesForex, Spot Gold & SilverAll CFDs

Banned Countries

Citizens of the following countries are ineligible from using Forex.com's products:

See the list of ineligible countries.

  • Afghanistan
  • Albania
  • Angola
  • Bahamas
  • Barbados
  • Belarus
  • Belgium
  • Botswana
  • Burundi
  • Cambodia
  • Central African Republic
  • Chad
  • Comoros
  • Congo Democratic Republic
  • Congo Republic
  • Cote D'Ivoire
  • Cuba
  • Equatorial Guinea
  • Eritrea
  • Ethiopia
  • France
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Haiti
  • Hong Kong
  • Iceland
  • Iran
  • Iraq
  • Israel
  • Jamaica
  • Lebanon
  • Liberia
  • Libya
  • Mauritius
  • Mongolia
  • Myanmar
  • New Zealand
  • Nicaragua
  • Nigeria
  • North Korea
  • Pakistan
  • Panama
  • Serbia
  • Sierra Leone
  • Somalia
  • South Sudan
  • Sri Lanka
  • Sudan
  • Syria
  • Tajikistan
  • Trinidad and Tobago
  • Tunisia
  • Turkmenistan
  • Uganda
  • Uzbekistan
  • Venezuela
  • Western Sahara
  • Yemen
  • Zimbabwe

Forex.com Trading Products

Forex.com offers customers trading in over 200 different products including forex, CFDs on indices, shares, commodities, and cryptocurrencies.

Forex

True to its name, Forex.com offers trading on forex markets. Trading online FX is available in all countries where Forex.com does business, including the US.

See all of Forex.com's currency pairs.

  • AUD/CAD
  • AUD/CHF
  • AUD/CNH
  • AUD/JPY
  • AUD/NOK
  • AUD/NZD
  • AUD/PLN
  • AUD/SGD
  • AUD/USD
  • CAD/CHF
  • CAD/JPY
  • CAD/NOK
  • CAD/PLN
  • CHF/HUF
  • CHF/JPY
  • CHF/NOK
  • CHF/PLN
  • CNH/JPY
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/CNH
  • EUR/CZK
  • EUR/DKK
  • EUR/GBP
  • EUR/HKD
  • EUR/HUF
  • EUR/JPY
  • EUR/MXN
  • EUR/NOK
  • EUR/NZD
  • EUR/PLN
  • EUR/RON
  • EUR/RUB
  • EUR/SEK
  • EUR/SGD
  • EUR/TRY
  • EUR/USD
  • EUR/ZAR
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/DKK
  • GBP/HKD
  • GBP/JPY
  • GBP/MXN
  • GBP/NOK
  • GBP/NZD
  • GBP/PLN
  • GBP/SEK
  • GBP/SGD
  • GBP/USD
  • GBP/ZAR
  • HKD/JPY
  • NOK/DKK
  • NOK/JPY
  • NOK/SEK
  • NZD/CAD
  • NZD/CHF
  • NZD/JPY
  • NZD/USD
  • SGD/HKD
  • SGD/JPY
  • TRY/JPY
  • USD/CAD
  • USD/CHF
  • USD/CNH
  • USD/CZK
  • USD/DKK
  • USD/HKD
  • USD/HUF
  • USD/ILS
  • USD/JPY
  • USD/MXN
  • USD/NOK
  • USD/PLN
  • USD/RON
  • USD/RUB
  • USD/SEK
  • USD/SGD
  • USD/THB
  • USD/TRY
  • USD/ZAR
  • ZAR/JPY

CFDs on Shares, Commodities and More

CFDs are derivative securities that allow customers to gain exposure to the price of financial instruments without actually holding the instruments in their accounts.

See all Forex.com's CFD Indices

  • Australia 200 CFD
  • EU Stocks 50 CFD
  • France 40 CFD
  • Germany 30 CFD
  • Hong Kong 50 CFD
  • Japan 225 CFD
  • US SP 500 CFD
  • US Tech 100 CFD
  • UK 100 CFD
  • Wall Street CFD
  • China 50 CFD
  • Italy 40 CFD
  • Netherlands 25 (per 0.05) CFD
  • US Small Cap 2000 CFD
  • Singapore Index (per 0.1) CFD
  • Spain 35 CFD
  • Switzerland 20 CFD

CFD Shares

Forex.com customers can trade CFDs on shares for more than 90 companies headquartered in the United Kingdom (including FTSE 100 and other UK shares) and the United States.

CFDs on Commodities

Forex.com customers can trade CFDs on commodities futures, metals, and can trade on spot commodities.

See all of Forex.com's commodities CFDs.

Popular Commodities:

Spot commodities:

  • Spot Coffee 15
  • Spot Cotton No 2
  • Spot Sugar No. 11
  • Spot UK Crude Oil
  • Spot US Crude Oil

Metals CFDs:

Cryptocurrencies

Forex.com offers CFDs on the following cryptocurrencies starting at 10 pips per point.

Note: US and Canadian clients cannot trade on cryptocurrencies.

Traders do not buy cryptoassets from Forex.com, only derivative products. As such, since you do not own the coins traded, and Forex.com doesn't provide a digital wallet.

Leverage

Forex.com offers different amounts of leverage to different account holders.

Customers can adjust leverage within the Forex.com or MT4 web trading platforms or by contacting customer support.

Start Trading Now at Forex.com

Risk Warning: 72% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Forex.com Account Types

Forex.com offers several account types on its proprietary platform: standard, commission, direct market access (DMA), and a demo account.

Forex account types: standard, commission, DMA

The broker also offers a standard and demo account for use with the MetaTrader 4 (MT4) platform.

All account types can access Forex.com via its mobile apps.

Standard Account

Most traders will sign up for the Forex.com Standard account type since it's the easiest way to start. This account features fast trade execution and easily-understood spreads that are competitive with other brokers.

The Standard account is the only type available for use with MetaTrader 4.

Commission Account

The Commission account is for experienced traders who want reduced, tighter spreads in combination with low, flat commission rates. Traders pay $5 commission per 100K traded.

The Commission account isn't available for use with MetaTrader 4.

Direct Market Access Account

Forex.com's Direct Market Access (or DMA) account is for experienced, high-volume forex traders. The payment scheme is commissions-only (no spreads). The recommended balance for this account type is a minimum of $25,000 and the minimum trade amount is $100,000.

Other benefits of the DMA account include:

  • Waived wire transfer fees
  • A personal, dedicated market strategist
  • Earned interest on your average daily margin, from 0.5% – 1.5% APY

There are some limitations on this account:

  • On the Forex.com web trading platform and on the mobile apps, this account features only top of book trading.
  • It has 60 currency pairs (vs 82 pairs for other account types).
  • Not available for use with MetaTrader 4.

Demo Account

The Forex.com demo account is intended to familiarize you with the trading tools and features of the Forex.com trading platforms and to help test forex trading strategies using virtual funds.

Traders can use demo accounts for up to 30 days, free of charge. Demo accounts are not renewable at this time.

Unfortunately, demo accounts are separate from the live platforms, so traders can’t toggle back and forth between play money and real money, which some other brokers allow.

Start Trading Now at Forex.com

Risk Warning: 72% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Forex.com Spreads and Fees

The underlying financial instruments determine the Forex.com spreads that traders pay.

Fixed and Variable Spreads

The broker offers both fixed and variable spreads depending on the specific market being traded.

Fixed spreads: These spreads don’t change with market conditions such as volatility or liquidity. Fixed spreads may either be offered for a defined period of the day or throughout trading hours.

Variable spreads: These spreads may fluctuate throughout the day according to factors such as underlying liquidity or market volatility. Forex.com informs traders on its website of the minimum variable spreads as well as the average spreads over a recent time frame.

This screenshot is only an illustration. Current market prices can be found on the broker website. Please note, this is an example trade – not a recommendation.

Forex.com obtains the data for spreads from reputable third-party sources, which obtain the data directly from exchange feeds.

Spreads vary based on market conditions, including volatility, available liquidity, and other factors.

Fees and Commissions

Below we've gathered up the information on the fees and commissions that Forex.com charges their clients.

Fees

Fee TypeForex.com Policy
Borrowing Costs for Shorting CFDsA small minority of CFDs traded on the Forex.com platform are tied to underlying assets that are hard to borrow. Traders who want to short these CFDs will incur borrowing costs.
Currency ConversionForex.com charges commercially reasonable rates for converting CFD and forex trades back to your base currency. The broker discloses the conversion rates on contract notices and trader statements.
Data ExchangeNo fee, however, positions held overnight will incur a rollover fee
DepositsNo fee
InactivityForex.com charges a monthly inactivity fee of £15 (15 base currency equivalent or 1500 JPY) to accounts that are inactive for 12 months or more. Accounts with a balance of 10,000 base currency or more are exempt from inactivity fees.
Finance or RolloversForex.com charges financing fees, or rollovers, to hold a position open overnight. Forex.com automatically applies the daily financing fee to your account each day that you hold an open position (including weekends). The financing rates are set at a benchmark regional interest rate of +/- 2.5%.
WithdrawalForex.com does not charge withdrawal fees using credit or debit cards or to your bank accounts using SWIFT or BACS payments unless the customer wants to receive same-day payment using CHAPS. Same-day CHAPS transfers incur a £25 fee for amounts under £5,000.
Dividend AdjustmentsMade on the ex-dividend date. Long positions: adjusted net of tax. Short positions: Charged the declared amount of gross adjustment.

Commissions

Commissions vary by account type and instrument.

  • Standard Accounts: Commissions charged on shares CFDs.
  • Commissions accounts: Charged a flat $5 commission per 100K lot at the time of trade execution.
  • DMA accounts: Variable commissions based on volume traded.

Start Trading Now at Forex.com

Risk Warning: 72% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Forex.com Account Requirements

After you click the Forex.com “Open an Account” button, you must answer a series of questions.

  1. Choose a platform: the standard Forex.com platform or MetaTrader 4.
  2. Enter your name, email, phone, and date of birth.
  3. Choose a password for your account and select your base currency.
  4. Enter your address and tax residency status.

The next set of questions Forex.com is about your financial status and trading experience.

The broker doesn’t require specific prior trading experience to open an account. However, traders must answer some questions to demonstrate that they understand the trading products and the risks associated with them.

You must then agree to some disclosures regarding your understanding of CFD trading.

To pass your identity verification, you will need to upload one document for proof of identity and one for proof of address.

DocumentExamples
Proof of IdentityAcceptable documents for identity verification include but are not limited to:

  • Valid, current passports (national or international)

  • Valid, current driver's license

  • Valid, current national ID Card


Birth certificates, marriage licenses and insurance cards are not accepted. Other types of ID may be acceptable on a case-by-case basis after review.
Proof of AddressProof of residence must include your name and address as indicated on the application. Acceptable forms of proof of residence include but are not limited to:

  • Utility bill

  • Bank, building society, credit or debit card statement

  • Council tax bill

  • Local government address registration certificates

  • Valid driving license if issued within the last six months


Utility bills and statements must be dated within the last six months.

Minimum Deposit Amount

The minimum deposit to open an account is $100 or currency equivalent. However, Forex.com recommends that you deposit at least $2,500 to maintain an adequate excess margin balance above your required margin.

Forex.com doesn't charge fees on incoming deposits, regardless of type. However, the banks involved in the transaction may charge you fees.

You can easily fund your account by logging in to MyAccount and visiting the Funding page. Traders can deposit using the following methods:

 VISA, MasterCard, MaestroWire Transfer
Minimum Per Transaction£10 or currency equivalentNone
Maximum Per Transaction£20,000None
Accepted CurrenciesUSD, EUR, CAD, JPY, CHF, AUD, GBP 
USD, EUR, CAD, JPY, CHF, AUD, GBP
Typical Processing TimeWithin 24 hoursUp to 1-2 business days
Fees

  • No fees from Forex.com

  • If you deposit funds from abroad, your bank may charge a cross-border fee or currency conversion fee.

  • Your bank may charge also you a fee if it considers the transaction as a cash transaction.


  • No fees from Forex.com

  • Your bank may charge a service fee for wire transfers.

  • Wire transfers that involve a bank outside the US, may require an intermediary US bank.

  • Intermediary banks may charge a transaction fee.

Margin Requirements

Each financial instrument also has specific Forex.com margin requirements that traders must maintain. Traders who fall below the Forex.com margin requirements risk receiving a margin call and having their position closed prematurely.

Start Trading Now at Forex.com

Risk Warning: 72% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Withdrawing Funds From Forex.com

Withdrawal requests can be submitted through MyAccount and are processed in order of receipt.

  • The minimum withdrawal amount is $100.
  • Forex.com doesn't charge withdrawal fees.
  • Withdrawals are processed within 48 hours.

Maximum Withdrawal Amounts

Funds Deposited ToMaximum Withdrawal Amount
Credit/Debit CardUp to £100,000 (or currency equivalent) per 24 hours or the amount funded, whichever is lower
PayPalUp to £20,000 (or currency equivalent) per transaction or the amount funded, whichever is lower
Wire TransferUnlimited, once card deposits are refunded

Start Trading Now at Forex.com

Risk Warning: 72% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Forex.com Mobile App Review

Many traders execute their strategy via mobile devices and Forex.com caters to these traders with iOS and Android mobile apps for use with tablets and smartphones.

The Forex.com mobile app lets you trade the way you like with all the same features of its web platform. You also get access to charting and analysis tools as well as the ability to fund your account directly from your phone.

Here is a brief introduction to some of the key features traders might find interesting.

Mobile Charting -The mobile app uses TradingView charts instead of Autochartist, which optimizes charts for mobile devices. The video below features the 14 chart types you can get with TradingView.

Video: Chart types available on Forex.com mobile. [53 seconds]
This screenshot is only an illustration. Current market prices can be found on the broker website. Please note, this is an example trade – not a recommendation.

Real-time Alerts – Traders on mobile have the advantage of getting real-time order alerts on their phones.

Watchlists – You can set up a Watchlist that includes mobile notifications of your choice, including notice of your orders.

Forex.com watchlists on mobile
This screenshot is only an illustration. Current market prices can be found on the broker website. Please note, this is an example trade – not a recommendation.

Personalization – You can personalize your Forex.com mobile app — both the dashboard and the main menu.

Forex.com open positions mobile app
An example of a trader's personalized positions list on the Forex.com mobile app.
This screenshot is only an illustration. Current market prices can be found on the broker website. Please note, this is an example trade – not a recommendation.

You can try out the Forex.com mobile platform with a demo account.

Start Trading Now at Forex.com

Risk Warning: 72% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Forex.com Web Trading Platform Review

Forex.com traders have access to its web trading platform, MetaTrader 4, and mobile trading apps for iOS and Android smartphones and tablets:

Forex.com: A web trading platform offering simple and complex order types, professional charting, news services, trade ideas, and mobile trading options.

MetaTrader 4: The industry-standard advanced trading platform offering high-end features and automated trading support.

Tutorial

The Forex.com web trading platform is impressive in that it’s user-friendly and easy to navigate. One of the first things you notice when logging in is the Getting Started tutorial which is a step-by-step guide to the platform.

Forex.com orientation tutorial
This screenshot is only an illustration. Current market prices can be found on the broker website. Please note, this is an example trade – not a recommendation.

The tutorial explains the charting, trading, and account management features of the platform clearly. This is a nice touch that many competitors overlook.

The tutorial ends with a link that takes you to the Education section of the website (see below). We found this effort to integrate and these resources into the trading platform and remind traders of their availability to be refreshing.

When you finish the tutorial, you arrive at the main trading screen:

Forex.com defaul trading workspace
Please note, this is an example trade – not a recommendation. Please note, this is an example trade – not a recommendation.

The web browser layout manages to provide a lot of features in one trading window. Traders can customize the layout and access multiple tabs in each trading window.

The top of the main window gives the trader access to a variety of subcategories. This gives the platform a very economical feel.

Autochartist

One of the most impressive aspects of the Forex.com platform is the myriad of technical indicators and drawing tools available in the charting section called Autochartist.

Forex.com Autochartist volitility analysis
Please note, this is an example trade – not a recommendation. Please note, this is an example trade – not a recommendation.

Novice traders will appreciate the ability to easily draw trend lines on charts and create graphs using lines, bars, candlesticks, and a host of other indicators.

At the same time, advanced traders will like the automated technical analysis, which can use to scan the markets and find patterns and trade ideas.

Forex.com Autochartist with trade ideas
Autochartist provides trade ideas, explains the reasons for suggesting them, and expiration times.
Please note, this is an example trade – not a recommendation. Please note, this is an example trade – not a recommendation. 72% of retail CFD accounts lose money.

Unlike many other platforms we reviewed, Forex.com offers a surprisingly robust offering of fundamental news and analysis to complement the technical offerings.

Traders can navigate to the Research and Analysis tab and find access to market news and analysis.

There’s an economic calendar with upcoming announcements and the very helpful Market Analysis section with recent news events by the Forex.com research team.

Forex.com Economic Calendar with filters
You can filter the economic calendar by country, category, and volatility.
This screenshot is only an illustration. Current market prices can be found on the broker website. Please note, this is an example trade – not a recommendation.

There’s also the Reuters-powered newsfeed on the bottom of the screen.

Forex.com News feeds & Technical Insights
Technical Insight, unique to Forex.com, offers trading ideas combined with charting and news feeds on instruments you choose.
This screenshot is only an illustration. Current market prices can be found on the broker website. Please note, this is an example trade – not a recommendation.

Risk Management with Smart Trade Tickets

The ticket window proves to be a solid offering of this platform. Forex.com calls them Smart Tickets. Traders can choose a variety of parameters for placing stops on trades as well as helpful trading tools for calculating margin requirements:

Forex.com smart trading ticket
Forex.com's Smart Ticket
This screenshot is only an illustration. Current market prices can be found on the broker website. Please note, this is an example trade – not a recommendation. 72% of retail CFD accounts lose money.

Forex.com's Smart Trading ticket helps traders better manage risks because they can set your orders based any of several factors such as profit/loss, price, or pips. You can even see the margin requirements right on the ticket.

Active Trader Program

Forex.com also offers an Active Trader program for traders who deal in high volumes of currency trading.

A minimum initial deposit of US$10,000 or trade US$25M in a calendar month to automatically qualify for Active Trader.

Continued eligibility is contingent on total quarterly trade volume of at least US$50M or an average account balance of at least US$25,000

The Active Trader program offers certain benefits:

  • Reduced pricing on standard spreads of up to 15%
  • Cash rebates
  • Personalized, one-on-one customer support
  • No account service fees
  • Reimbursement for bank wire fees
Forex.com rebates for active trader program
An example of Forex.com rebates under the Active Trader Program.
This screenshot is only an illustration. Current market prices can be found on the broker website. Please note, this is an example trade – not a recommendation. 72% of retail CFD accounts lose money.

Forex.com Education Resources

Forex.com has an Education tab on its website that offers three sections of trading courses: beginner, intermediate, and advanced.

Each course section can be filtered by one of the following six themes:

  1. Trading Concepts
  2. Managing Risk
  3. Technical Analysis
  4. Trading Strategies
  5. Fundamental Analysis

When you click on a section and then click on a theme, Forex.com presents videos, charts, and text covering the topic. The colorful charts and detailed explanations in this section are thorough and impressive.

Forex.com Education
This screenshot is only an illustration. Current market prices can be found on the broker website. Please note, this is an example trade – not a recommendation. 72% of retail CFD accounts lose money.

The teaching material allows traders to learn at their own pace. We especially liked the ability to filter by topics. It's like having a search engine built into an intranet for learning about forex and CFD trading.

Platform Shortcomings

Although Forex.com is an excellent choice for many traders, it does have a few limitations.

Languages available – The Forex.com web trading platform is only available in English and Chinese. Also, it's difficult to determine ahead of time what languages that customer support is provided in.

Demo accounts – The Forex.com demo account is only available for 30 days and can't be renewed, unlike demo accounts with eToro or Fortrade. Additionally, the Forex.com demo account isn't linked to a trader's live account so you can't toggle between them as other brokers enable you to do.

Start Trading Now at Forex.com

Risk Warning: 72% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Can I Trust Forex.com?

Forex.com is a regulated way to trade on forex, spot commodities, and CFDs. The broker is a subsidiary of a New York Stock Exchange company that has over two decades' experience as a provider of retail trading platforms.

As a global operator, Forex.com receives regulatory oversight from several agencies:

RegulatorCountries Covered*
Financial Conduct Authority (FCA) and Markets in Financial Directive (MiFID)Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, UK.
Australian Securities and Investment Commission (ASIC)Australia, New Zealand, and South Africa
Securities and Futures Commission (SFC)Hong Kong
Cayman Islands Monetary Authority (CIMA)Cayman Islands
Investment Industry Regulatory Organization of Canada (IIROC)Canada
Financial Services Authority (FSA)Japan
Commodities and Futures Trading Commission (CFTC)United States
National Futures Association (NFA)United States
*Although some countries may be protected by regulators, not all countries listed may trade with Forex.com Please refer to the list of banned countries above.

Forex.com keeps client funds segregated from its own funds and holds client funds in top-tier banks.

Financial Conduct Authority

The UK’s Financial Conduct Agency (FCA) regulates Forex.com's activities in the United Kingdom.

The FCA is widely respected as a leader in financial regulation. The UK scores highly in Transparency International‘s rankings of countries based on their corruption perceptions index meaning the UK is a pillar of anti-corruption. Forex.com customers in the UK are protected by the UK based scheme Financial Services Compensation Scheme (FSCS), which was established to protect consumers when authorized financial services firms fail.

The FSCS pays compensation up to £50k to customers in the UK if Forex.com is unable to pay.

Forex.com is a trading name of GAIN Capital UK Limited. GAIN Capital UK Ltd is authorized and regulated by the Financial Conduct Authority in the UK, with FCA Register Number 113942.

Australian Securities and Investments Commission

The Australian Securities and Investments Commission (ASIC) covers the activities of Forex.com in Australia, New Zealand, and South Africa.

If you are based in these countries, there is no additional compensation scheme in place to cover your deposit.

However, you are offered the protection afforded by the Australian legal system. Money held in trust in Australia is highly regulated and covered by the Corporations Act.

GAIN Capital Forex.com Australia Pty Limited, the company that operates Forex.com in Australia, is authorized and regulated by ASIC (AFSL no. 340255).

Commodities & Futures Trading Commission (CFTC)

The Commodities and Futures Trading Commission (CFTC) is a US government agency that regulates futures and options markets. The CFTC polices market violators operating under its jurisdiction.

An additional protection the CFTC offers to US traders is helping resolve disputes between traders and investment professionals.

Forex.com is a registered Futures Commission Merchant (FCM) and retail foreign exchange dealer (RFED) with the CFTC and a member of the National Futures Association (NFA # 0339826).

NOTE: Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act.

Forex.com Customer Support

Customer support operates 24 hours a day from 10am Sunday to 5pm Friday, based on your local time zone.

Traders can contact Forex.com customer service by phone, email, fax, or live chat. Traders can view the Forex.com website in English and Chinese.

Forex.com says it offers customer support in “many languages,” but does not offer a list of them.

Forex.com‘s History

Forex.com is a subsidiary of GAIN Capital Holdings, Inc. (NYSE: GCAP), which is an international company listed on the New York Stock Exchange.

GAIN Capital was founded in 1999 to provide traders with low-cost access to the foreign exchange market.

Forex.com has its corporate address in London, United Kingdom.

Who Runs Forex.com?

GAIN Capital Holdings, Inc., the company that owns Forex.com, is a publicly held company.

Start Trading Now at Forex.com

Risk Warning: 72% of retail trader accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

FAQs

Does Forex have an app?

Yes, Forex.com has apps that allow you to trade via your mobile devices like tablets or smartphones. They have both Android and iOS apps available. Experienced traders can also access Forex.com via the MetaTrader 4 mobile apps. See our section above for more information about the Forex.com mobile app.

Can I trade forex on my phone?

Yes, with Forex.com, you can trade on your iOS or Android phone. See our section above for more information about the Forex.com mobile app.

Does Forex have a monthly fee?

No, Forex.com doesn't require a monthly access fee. However, you must initially fund your account with a deposit of at least $100 or currency equivalent. They also have transactional fees on currency conversion, rollovers, borrowing costs for shorting CFDs, inactivity for 12 months, and some same-day withdrawal types.

How reliable is Forex?

Forex.com's trading platforms are available 24/7. You can trade via their web-based app, an iOS or Android mobile device, or through MetaTrader 4. Additionally, Forex.com's parent company, GAIN Capital Holdings, Inc. (NYSE:GCAP), is a publicly-held company that must adhere to strict corporate disclosure and financial reporting laws.

For regulatory information about Forex.com, see our regulatory section above.

Which is the best site for forex trading?

Forex traders can access forex trading from many brokers, including Forex.com. The best trading platform is entirely dependent on the type of trader you are, your experience level with trading, where you are located, and what types of technology you have at your disposal. The standard Forex.com platform is best-suited for beginner-to-intermediate traders while advanced traders can access its markets via MetaTrader 4.

Can I use Forex.com in the USA?

Yes, US residents and citizens may use Forex.com's forex, spot gold, and spot silver products. However, US residents are restricted from accessing Forex.com's CFD trading products. In the US, Forex.com is regulated by the Commodity Futures Trading Commission (CFTC) and member of the National Futures Association (NFA).

Is Forex.com legitimate?

Yes. Forex.com is governed by some of the strictest regulatory bodies in the world. In the EU and UK, Forex.com is regulated by the Financial Conduct Authority (FCA). In Australia, the company is regulated by the Australian Securities and Investments Commission (ASIC). In the US, Forex.com is regulated by both the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA).

If you think Forex.com isn't right for you, check out our other broker reviews.

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Credits: Original Forex.com review written by Lawrence Pines. Major updates and additions in May 2020 by Natalie Mootz with contributions from the Commodity.com editorial team.