FOREX.com is a CFD and Forex broker, which was established in 2001. It is regulated by many regulators across the world and is considered safe for all types of traders. GAIN Capital is the parent organization of FOREX.com and is listed on the New York Stock Exchange. It has a good track history and offers trade in currency pairs. It has lots of technical research tools and charges low forex fees. It doesn’t deal with stocks or bonds.
The user can trade in seven base currencies such as CAD, JPY, CHF, AUD, USD, EUR, GBP. It is traded publicly and is competitive and easy to understand. According to FOREX.com review, the platform has earned numerous recognition with low risk for CFDs and forex trading. The platform has transparent pricing, sections of crypto trading, professional trading, education, fees, commissions, user-friendliness, and overall. The account opening is simple and fully digital. It needs a very less minimum deposit to open an account. It also offers many options for withdrawal and deposit. Credit and Debit card facilities are also available on the platform.
Pros of FOREX.com:
- Great trading platform tutorials
- Low minimum deposit
- Forex fees are low
- No deposit fee
- Live chat is available
- Good quality market reports
FOREX.com is regulated by many regulatory authorities like the Association of the National future (NFA), US Commodity Futures Trading Commission, and the UK Financial Conduct Authority (FCA). It has a high degree of investor protection as its parent company, GAIN Capital, is listed on the New York stock exchange. It also offers negative balance protection.
Account Opening at FOREX.com
The platform offers the account opening services to its customers digitally and is fully user-friendly. One of the benefits of the customer is that there is very little minimum deposit in opening an account. The minimum deposit required to open an account with FOREX.com is $50. The procedure to open a new account is simple and straightforward, and customers don’t need to go through any problem or issue. It provides the facilities to open three types of account:
FOREX.com account: This account is ideal for daily forex trading and offers competitive spreads with no commissions.
MetaTrader account: It is a dedicated forex trading platform with the state of the art charting, alerts, and signals.
DMA account: It is developed for high volume forex traders who are looking for maximum control.
You need to provide the following information to open an account with FOREX.com
- Primary bank name
- Account type
- Financial knowledge
- Personal & financial information
- Identity proof & address proof
FOREX.com provides a superb web trading platform for its customers. It is user-friendly and customizable. It has two trading platforms: Web Trader and MetaTrader 4.
MetaTrader 4 is provided by the third party, while Web Trader is FOREX.com’s own platform and is available only in the English language. It is not safe as compared to other brokers as it provides only one step log-in. It has good search functions, and the user experience is great. FOREX.com gives easy setup to fix price alerts and various trading notifications. Also, the portfolio and fee report that it provides is also simple.
Products of FOREX.com
It offers forex pairs to US clients. Cryptocurrency trading is also available in the UK. Users outside the US offer forex, CFDs on stocks, indexes, and commodities. CFDs are financial instruments and have a high risk of losing money quickly. FOREX.com offers a large number of cryptocurrencies and currencies. The volume of stock CFD is very less.
While doing the FOREX.com review, we found that customer service is very impressive as it resolves the queries of customers with relevant and effective answers. The customer can contact FOREX.com either through telephone or e-mail and get answers by their skillful employees & the live chat on the website or platform is very effective and answers the questions of the users quickly. They are accessible 24hours from Sunday to Friday. They have quick response-time both from the telephone, but email support is a little bit poor.
It does charge an inactive fee and also has a very low forex trading fee. Stock CFD fees are high as compared to other instruments. There is no withdrawal fee on FOREX.com platform. Forex trading fees are charged when a user trades. These trading fees can be in the form of financing rates, spreads, commissions, and conversion fees. Non-trading fees include charges which are not directly related to trading such as Withdrawal fees or inactivity fees. It has high stock CFD fees and low stock index CFD fees. The non-trading fees are normal, and there is no account fee.
FOREX.com gives high-quality trading ideas and has varied research functions. It offers an amazing interactive charting tool on the web platform. It also offers tips based on various analyses and models. It is user-friendly and provides impressive market reports. The user can also read market analysis written by the research team of FOREX.com. It doesn’t have news feeds. FOREX.com also doesn’t offer fundamental data related to various trades.
Education Resources of FOREX.com
It provides a demo account and does a fantastic job in the education of its clients. It has impressive production quality and provides education tutorials for its customers. It also provides a trading glossary and quality educational articles. The structure of the content was good and the user can build its confidence and learn how to trade forex with a bundle of educational resources. Webinars are missing in the FOREX.com
FOREX.com gives the impression that it is a superb broker service for forex trading and is regulated by several financial authorities. It has low forex fees, high-quality educational resources, and research tools. However, stocks and bonds are not offered by FOREX.com. Account opening is easy and quick. It has got some amazing collection of educational articles, videos, tutorials, a glossary for the users so that they can make good forex trade choices. It covers US markets, UK markets, and many other regions and is digital. It also offers brilliant trading ideas and has an interactive charting and modeling tool. Also, the desktop platform is very easy to use, and the inactivity fee doesn’t get charged until after one year. You can check the FOREX.com review to get more ideas about its advantages.
1: What is FOREX.com?
Ans: FOREX.com is a CFD & Forex broker that was established in the year 2001.
2: Is FOREX.com a market maker?
Ans: Yes. FOREX.com is a market maker and provides dealer execution.
3: Who owns FOREX.com?
Ans: GAIN Capital Holdings, Inc. is a parent organization of the platform.
4: Is FOREX.com good?
Ans: Yes, several financial authorities regulate a superb broker service for forex trading.
5: What is the leverage on FOREX.com?
Ans: Leverage allows traders to control more significant positions with a smaller amount of actual trading funds.