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Forex.com Review – Can You Trust Them?

Forex.com Header

Overview

Risk Warning: Your Capital is at Risk

Forex.com is one of the more established online brokers for Contracts for Difference (CFDs) trading. CFDs are derivative securities that allow customers to gain exposure to the price of financial instruments without actually holding the instruments in their accounts. Forex.com offers CFD trading on asset classes including forex, indices, shares, commodities and cryptocurrencies.

Forex.com traders have access to more than 200 global markets including more than 80 FX pairs and shares of more than 90 companies. Traders can choose between the broker’s advanced desktop platform, its web-based platform and mobile options. Traders also have access to the popular industry standard MetaTrader4 (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. Traders seeking a reliable, well-regulated broker that provides access to a solid menu of derivatives products may want to investigate Forex.com. Please remember, while Forex.com is a responsible broker, losses can still exceed deposits. CFD trading is for experienced traders.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail trader 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. Your capital is at risk.

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

Why Choose 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 IconNearly 20 years' experience in global marketsDemo account only available for 30 days - traders have to contact Forex.com to get it renewed
Tick IconExtensive range of drawing tools and technical indicators available in the platform's charting sectionBitcoin and Ethereum are the only cryptocurrencies available to trade
Tick IconGreat news and analysis offeredDemo account isn't linked to the live one
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

Forex.com - Essential Information

 Forex.com Logo
www.Forex.com
OverviewA global market leader in Forex trading.
Our Overall Rating
Broker Trust Rating100/100
Founded1999
ProductCFDs
MarketsForex
Indices
Shares
Cryptocurrencies
Commodities
Countries Served150+ (Full list below)
Minimum Deposit£50 or currency equivalent
FeesForex.com only charges commissions on shares CFDs.(See below). Forex.com charges no deposit fees or withdrawal fees (unless using CHAPS - £25). See here for full list of fees
Major Regulator(s)Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC)
Customer Support24/5 email, phone, fax and live chat
Demo AccountYes

History of Forex.com

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 with the goal of providing traders with low-cost access to the foreign exchange market.

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

FOREX.com is registered with the Financial Conduct Authority (FCA) in the UK (FCA Register Number 113942).

Its affiliates are registered with the following agencies:

  • Investment Industry Regulatory Organization of Canada (IIROC)
  • Financial Services Authority (FSA) in Japan
  • Securities and Futures Commission (SFC) in Hong Kong
  • Australian Services and Investments Commission (ASIC)
  • Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA) in the US
  • Cayman Islands Monetary Authority (CIMA) (license number 25033)

Forex.com provides customers dedicated 24/5 customer support. 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.

Where Does Forex.com Operate?

See all the countries Forex.com operates in

  1. Albania
  2. Algeria
  3. American Samoa
  4. Andorra
  5. Anguilla
  6. Antigua and Barbuda
  7. Argentina
  8. Armenia
  9. Aruba
  10. Australia
  11. Austria
  12. Azerbaijan
  13. Bahamas
  14. Bahrain
  15. Bangladesh
  16. Barbados
  17. Belize
  18. Benin
  19. Bermuda
  20. Bhutan
  21. Bolivia
  22. Bosnia-Herzegovina
  23. Botswana
  24. Brazil
  25. British Virgin
  26. Brunei Darussalam
  27. Bulgaria
  28. Burkina Faso
  29. Cambodia
  30. Cameroon
  31. Canada
  32. Cape Verde
  33. Cayman Islands
  34. Chile
  35. China
  36. Colombia
  37. Cook Islands
  38. Costa Rica
  39. Croatia
  40. Curaçao
  41. Cyprus
  42. Czechia
  43. Denmark
  44. Djibouti
  45. Dominica
  46. Dominican Republic
  47. East Timor
  48. Ecuador
  49. Egypt
  50. El Salvador
  51. Estonia
  52. Ethiopia
  53. Falkland Islands
  54. Faroe Islands
  55. Fiji Islands
  56. Finland
  57. France
  58. French Guyana
  59. Gabon Republic
  60. Gambia
  61. Georgia
  62. Germany
  63. Ghana
  64. Gibraltar
  65. Greece
  66. Greenland
  67. Grenada
  68. Guadeloupe
  69. Guam
  70. Guatemala
  71. Guernsey
  72. Guyana
  73. Honduras
  74. Hungary
  75. Iceland
  76. India
  77. Indonesia
  78. Ireland
  79. Isle of Man
  80. Israel
  81. Italy
  82. Jamaica
  83. Japan
  84. Jersey
  85. Jordan
  86. Kazakhstan
  87. Kenya
  88. Kuwait
  89. Kyrgyzstan
  90. Laos
  91. Latvia
  92. Lesotho
  93. Liechtenstein
  94. Lithuania
  95. Luxembourg
  96. Macau Special Administrative Region of China
  97. Macedonia
  98. Madagascar
  99. Malawi
  100. Malaysia
  101. Maldives
  102. Mali
  103. Malta
  104. Marshall Islands
  105. Martinique
  106. Mauritania
  107. Mauritius
  108. Mayotte
  109. Mexico
  110. Micronesia – Federated States of
  111. Moldova
  112. Monaco
  113. Mongolia
  114. Montenegro
  115. Montserrat
  116. Morocco
  117. Mozambique
  118. Namibia
  119. Nauru
  120. Nepal
  121. Netherlands
  122. New Caledonia
  123. Nicaragua
  124. Niger
  125. Northern Mariana Islands
  126. Norway
  127. Oman
  128. Pakistan
  129. Palau
  130. Palestine
  131. Panama
  132. Papua New Guinea
  133. Paraguay
  134. Peru
  135. Philippines
  136. Poland
  137. Portugal
  138. Puerto Rico
  139. Qatar
  140. Reunion Is.
  141. Romania
  142. Russia
  143. Rwanda
  144. Samoa (Western)
  145. San Marino
  146. Sao Tome and Principe
  147. Saudi Arabia
  148. Senegal
  149. Serbia
  150. Seychelles Republic
  151. Singapore
  152. Sint Maarten (Dutch part)
  153. Slovak Republic
  154. Slovenia
  155. Solomon Islands
  156. South Africa
  157. South Korea
  158. Spain
  159. Sri Lanka
  160. St. Kitts
  161. St. Lucia
  162. St. Pierre
  163. St. Vincent
  164. Suriname
  165. Swaziland
  166. Sweden
  167. Switzerland
  168. Tahiti
  169. Taiwan Region, China
  170. Tanzania
  171. Thailand
  172. Togo
  173. Tonga
  174. Trinidad
  175. Tunisia
  176. Turkey
  177. Turks and Caicos Islands
  178. Uganda
  179. Ukraine
  180. United Arab Emirates
  181. United Kingdom
  182. United States
  183. Uruguay
  184. Vatican City
  185. Vietnam
  186. Virgin Islands – U.S.
  187. Zambia

Forex.com products and services are not intended for Belgium residents.

Is Forex.com Safe?

Forex.com is a safe and regulated way to trade forex and CFDs. The broker is a subsidiary of a New York Stock Exchange company that has two decades’ experience as a provider of retail trading platforms.

As a global operator, Forex.com receives regulatory oversight from several agencies. The Financial Conduct Authority (FCA) regulates the firm in the UK, while the Markets in Financial Directive (MiFID) allows the company to operate as a regulated entity throughout the European Union. The firm’s Australian operations fall under the regulatory auspices of the Australian Securities and Investment Commission (ASIC). In addition, Forex.com is regulated to provide services in the following regions:

  • Securities and Futures Commission (SFC) in Hong Kong
  • Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) in the US
  • Cayman Islands Monetary Authority (CIMA)
  • Investment Industry Regulatory Organization of Canada (IIROC) in Canada
  • Financial Services Authority (FSA) in Japan

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

Forex.com's Major Regulators

RegulatorCountries CoveredProtection OfferedAdditional Protection Offered
Financial Conduct Authority (FCA)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.All client funds are held in a segregated client bank account
Financial Services Compensation Scheme (FSCS) may cover up to £50,000 if Forex.com fails.
Australian Securities and Investments Commission (ASIC)Australia, New Zealand and South AfricaAll client funds are held in a segregated client bank account

Forex.com Trust Factor

Financial Conduct Authority

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

The FCA is widely respected as a leader in financial regulation. In addition, 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.

ASIC’s oversight of Forex.com means that client money is held in a trust and completely separate from the broker’s own money. Unlike other jurisdictions, however, if you are based in Australia, New Zealand or South Africa, there is no additional compensation scheme in place to cover your deposit. That doesn’t mean it isn’t safe to deposit with Forex.com if you’re in Australia, New Zealand or South Africa. Rather, you are offered only the legal protection afforded by the Australian legal system. That being said, 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)

Who Runs Forex.com?

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

Key GAIN Capital Holdings' Executives

NamePositionInformation
Glenn Stevens
Glenn Stevens
Chief Executive OfficerGlenn joined GAIN Capital in 2000 as a founding partner and managing director.
Nigel Rose
Nigel Rose
Chief Financial OfficerNigel is responsible for GAIN’s global financial organization.
Alastair Hine
Alastair Hine
Chief Operating OfficerAlastair oversees the company’s global operations within the Retail, Institutional and Futures segments.
Diego Rotsztain
Diego Rotsztain
Head of Corporate Development, General Counsel and SecretaryDiego oversees the legal and compliance functions at GAIN.
Samantha Roady
Samantha Roady
President, RetailSamantha is responsible for the strategy and day-to-day operations of the retail business.
Mike Lear
Mike Lear
Chief Information OfficerMike oversees the technical strategy for the retail business, information and infrastructure.
Tim O’Sullivan
Tim O’Sullivan
Chief Risk OfficerTim manages the company’s market, credit and operational risks.

Forex.com Trading Products

Forex.com offers customers CFD trading in over 200 different trading products. Forex.com categorizes the products it offers to traders into five groupings: forex, indices, shares, commodities and cryptocurrencies.

1) Forex

See all Forex.com’s Forex Pairs

MARKET NAME
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

2) Indices

See all Forex.com’s Indices

MARKET NAME
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

3) Shares

Forex.com customers can trade more than 90 shares of companies in the United Kingdom (both FTSE 100 and other UK shares) and in the United States.

4) Commodities

Forex.com customers can trade soft commodities, energy commodities and metals

Soft and Energy Commodities

  • Corn
  • Cotton
  • Heating Oil
  • US Natural Gas
  • Soybean

Metals

  • Copper
  • Palladium
  • Platinum
  • XAU / AUD (Philadelphia Gold and Silver Index priced in Aussie dollars)
  • XAU / CHF (Philadelphia Gold and Silver Index priced in Swiss Francs)

Cryptocurrencies

  • Bitcoin ($)
  • Bitcoin (£)
  • Bitcoin (€)
  • Bitcoin (AUD)
  • Ethereum ($)

Forex.com Account Types

Forex.com simply offers a standard trading account and a demo account for its proprietary platform. The broker also offers a standard and demo account for the MetaTrader4 (MT4) platform.

The demo account is intended to familiarize you with the 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, and Forex.com provides them free of charge. If your demo account expires, you can contact Forex.com to renew it.

Forex.com also offers an Active Trader account, which is available to clients who open with and maintain a minimum average monthly balance of $20,000. The Active Trader account offers certain benefits:

  • Reduced pricing on standard spreads
  • The opportunity to trade EUR/USD for as low as 0.8
  • Personalized support
  • Priority service
  • No account service fees

Forex.com Account Types

Forex.com Spreads and Fees

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

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

Fixed spreads: These spreads don’t change regardless of 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.

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

Forex.com only charges commissions on shares CFDs. Traders of shares CFDs pay both the market spread as well as a commission on each trade.

Other relevant fee information:

Deposit Fees: The broker does not charge fees for debit and credit card deposits or bank transfers.

Withdrawal Fees: Forex.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.

Back to Base / Currency Conversion Charge: Forex.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 Exchange Fees: Forex.com does not charge data exchange fees.

Overnight Financing Fees: Forex.com charges financing fees, or rollovers, in order 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 benchmark regional interest rate of +/- 2.5%. Traders can learn more on the Forex.com site.

Borrowing Costs for Shorting CFDs: A 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. You can check the relevant Market Information Sheet in the FOREX.com desktop or MetaTrader4 platform to see if borrowing costs apply.

Inactivity Fees: Forex.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.

Market Spreads

Forex.com spreads vary based on market conditions, including volatility, available liquidity, and other factors. The following are the minimum and typical spreads charged to Forex.com customers:

Forex

See all Forex.com’s Forex Spreads

MARKET NAMEMIN SPREADTYPICAL SPREAD
AUD/CAD1.52.5
AUD/CHF2.63.2
AUD/CNH1519
AUD/JPY1.31.8
AUD/NOK3550
AUD/NZD2.73.4
AUD/PLN1722
AUD/SGD7.39.3
AUD/USD1.21.4
CAD/CHF2.93.8
CAD/JPY1.82.4
CAD/NOK1643
CAD/PLN1926
CHF/HUF4554
CHF/JPY1.82.8
CHF/NOK2453.8
CHF/PLN22.829.8
CNH/JPY111122
EUR/AUD2.22.8
EUR/CAD22.8
EUR/CHF1.72.3
EUR/CNH1119
EUR/CZK250350
EUR/DKK2020
EUR/GBP0.81.2
EUR/HKD1315
EUR/HUF3041.8
EUR/JPY1.61.9
EUR/MXN150205
EUR/NOK1434
EUR/NZD5.26.7
EUR/PLN1022
EUR/RON3645
EUR/RUB40.442.3
EUR/SEK1530.9
EUR/SGD67
EUR/TRY831.5
EUR/USD1.41.6
EUR/ZAR60149
GBP/AUD2.63.9
GBP/CAD34.8
GBP/CHF2.43.9
GBP/DKK4047
GBP/HKD2127
GBP/JPY2.53.2
GBP/MXN151223
GBP/NOK54.878.3
GBP/NZD2.65
GBP/PLN30.743
GBP/SEK55.378
GBP/SGD89.9
GBP/USD1.41.8
GBP/ZAR201314
HKD/JPY1724
NOK/DKK1012
NOK/JPY60105
NOK/SEK1518.1
NZD/CAD67
NZD/CHF4.55.4
NZD/JPY2.33.1
NZD/USD1.82.2
SGD/HKD3638
SGD/JPY44.9
TRY/JPY9.511.1
USD/CAD1.41.8
USD/CHF1.11.5
USD/CNH25.2
USD/CZK210280
USD/DKK2020
USD/HKD1313
USD/HUF1017
USD/ILS3047.8
USD/JPY1.21.4
USD/MXN4075.4
USD/NOK2036
USD/PLN2028
USD/RON50.174
USD/RUB1011.2
USD/SEK2033.2
USD/SGD44.6
USD/THB33.9
USD/TRY719.4
USD/ZAR100156.8
ZAR/JPY2.12.8

Indices

See all Forex.com’s Indices Spreads

MARKET NAMESPREAD PRICINGMIN. SPREAD
Australia 200 CFDFixed1 point
EU Stocks 50 CFDFixed2 points
France 40 CFDFixed1 point
Germany 30 CFDFixed1 point
Hong Kong 50 CFDFixed10 points
Japan 225 CFDFixed8 points
US SP 500 CFDFixed0.4 points
US Tech 100 CFDFixed1 point
UK 100 CFDFixed1 point
Wall Street CFDFixed1.6 points
China 50 CFDVariable around market spread10 points (variable)
Italy 40 CFDFixed10 points
Netherlands 25 (per 0.05) CFDFixed0.3 points
US Small Cap 2000 CFDFixed0.3 points
Singapore Index (per 0.1) CFDFixed0.4 points
Spain 35 CFDFixed8 points
Switzerland 20 CFDFixed4 points

Shares

See all Forex.com’s Shares Spreads

MARKET NAMESPREADCOMMISSION PER TRADE
FTSE 100 SharesMarket0.1% (£10 minimum)
Other UK SharesMarket0.1% (£10 minimum)
US SharesMarket0.15% (25 USD minimum)

Commodities

See all Forex.com’s Commodities Spreads

MARKET NAMEPRICINGTYPICAL SPREADS
CornVariable around market spread1
CottonFixed35
Heating OilVariable around market spread40
US Natural GasVariable around market spread18
SoybeanVariable around market spread1.5
CopperVariable around market spread40
PalladiumVariable around market spread1.1
PlatinumVariable around market spread1.4
XAU/AUDCapped variable0.61
XAU/CHFCapped variable0.61

Cryptocurrencies

These spreads may change dues to market conditions.

See all Forex.com’s Cryptocurrencies Spreads

MARKET NAMESPREADOVERNIGHT FINANCING
Bitcoin($)From $700.08219%
Bitcoin(£)From £700.08219%
Bitcoin(€)From €700.08219%
Bitcoin(AUD)From A$700.08219%
Ethereum($)From $60.08219%

Account Requirements

After you click the green Open an Account” button the website, Forex.com asks you a series of questions. First, they ask you to choose which account you want to open: Forex.com Platform or MetaTrader4.

Forex.com then takes you to a page where you enter your personal details including name, email, phone and date of birth. You also choose a password for your account and select your base currency.

You then arrive at the next page where you enter your address and tax residency status.

Forex.com asks you a series of questions about your financial status and trading experience. The broker doesn’t require specific prior trading criteria to open an account. However, traders must answer some questions to demonstrate that they understand the trading products and the risks associated with them.

Forex.com then asks you to 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

  • Other types of ID may be acceptable on a case-by-case basis after review. Birth certificates, marriage licenses and insurance cards are not accepted.
    Proof of AddressProof of residence must show 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.

    The minimum deposit to open an account is £50 or currency equivalent. However, Forex.com recommends that you maintain an adequate excess margin balance above your required margin.

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

    MIN. PER TRANSACTIONMAX PER TRANSACTIONACCEPTED CURRENCIESTYPETYPICAL PROCESSING TIMEFEES
    £10 or currency equivalent£20,000USD, EUR, CAD, JPY, CHF, AUD, GBP 

    All credit/debit card transactions are automatically converted to the base currency of your account.
    VISA, MasterCard, MaestroWithin 24 hoursFOREX.com does not charge any fees for incoming card deposits. Your card-issuing bank may charge you a cash transaction fee if it treats your transaction as a cash transaction.

    If you deposit funds from abroad, you may be charged a cross-border fee or currency conversion fee by your issuing bank.

    Wire Transfer

    MIN PER TRANSACTIONMAX PER TRANSACTIONACCEPTED CURRENCIESTYPICAL PROCESSING TIMEFEES
    NoneNoneUSD, EUR, CAD, JPY, CHF, AUD, GBPUp to 1-2 business daysFOREX.com does not charge incoming wire fees. 

    However, your bank may charge a service fee. Wire transfers that involve a bank outside the US, may require an intermediary US bank.  Intermediary banks may charge a transaction fee.

    Forex.com offers different amounts of leverage to different account holders. You can adjust your leverage within the Forex.com or MT4 desktop platforms or by contacting customer support.

    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.

    Forex.com Withdrawal

    Withdrawal requests can be submitted through MyAccount and are processed in the order the requests were received.

    Funds are returned to the originating account in the following order:

    • Credit/Debit Card
    • Wire Transfer
    • Withdrawals

    Credit/Debit Card

    • Processing Time – Typically within 48 hours
    • Max. Withdrawal Amount – Up to £100,000 (or currency equivalent) in 24 hours or the amount funded, whichever is lower
    • Fees – None

    Wire Transfer

    • Processing Time – Typically within 48 hours
    • Max. Withdrawal Amount – Unlimited, once card deposits are refunded
    • Fees – None

    Forex.com Platform Review

    Forex.com traders have access to two desktop platforms and mobile trading apps for iOS and Android smartphones and tablets:

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

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

    The Forex.com desktop 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 Navigating the Platform

    The tutorial explains the charting, trading and account management features of the platform in a clear and concise manner. 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 Trading Screen

    The desktop 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.

    One of the most impressive aspects of this platform is the myriad of technical indicators and drawing tools available in the charting section.

    Forex.com Charting

    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 scan the markets and find patterns and trade ideas.

    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.

    Forex.com Research and Analysis

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

    Forex.com News

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

    Forex.com Reuters News Feed

    The ticket window also provides some proves to be a solid offering of this platform. Traders have a variety of parameter for placing stops on trades as well as helpful tools for calculating margin requirements:

    Forex.com Ticket Window

    Forex.com Demo Account

    Traders can use the Forex.com demo account for 30 days. Both the Forex.com and MT4 demo accounts are separate from the live platforms, so traders can’t toggle back and forth between the two platforms. Unfortunately, this is limiting since other brokers allow unlimited use of their demo platforms and a link to the live platform.

    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
    6. Platform Tutorials

    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

    The teaching material allows traders to learn at their own pace. We especially liked the ability to filter by topics. Essentially Forex.com provides a search engine intranet for learning about forex and CFD trading.

    Forex.com Sign-Up Bonuses and Promotions

    Forex.com does not offer any sign-up bonuses or promotions to new or existing customers.

    The lack of sign-up bonuses for new customers is due to legislation that’s been brought in across the EU. Applying to any broker who’s regulated within an EU country, the Markets in Financial Instruments Directive (MiFID) has been designed to create more protection for traders through a transparent marketplace.

    Therefore, any broker operating within the EU is unable to offer sign-up bonuses to incentivize customers. A broker that offers one is either unregulated in the EU or completely unregulated, which means your money may not be safe and they could be operating illegally.

    Important: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail trader 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. Capital at risk.

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