The products and services available to you at FOREX.com will depend on your location and on which of its regulated entities holds your account.

Forex.com Review

4.09
22 reviews
PAYMENT SYSTEMS
  • Deposit
  • Withdrawal

Forex.com general information

Founded in: 2001 year
Headquarters:
USA
Offices in the country:
United Kingdom, Cyprus, United Arab Emirates, USA
Minimum Deposit: 100 $
Website languages:
English, Arab, Spanish, Chinese, Deutsch
Execution model:
ECN, MM
Deposit currency: USD, EUR, JPY, GBP, AUD, CHF, CAD
Regulated by:
FCA (United Kingdom)
CySEC (Cyprus)
CFTC (USA)
NFA (USA)
Canada (CIRO) (Australia)
Cayman Islands (CIMA) (Australia)
Mobile trading: iOS, Android, Windows Phone
Types of offered accounts:
Unlimited Demo Accounts, Standard Accounts, ECN accounts
Affiliate program: Yes

Forex.com Forex broker description

Pros

  • Low forex trading fees with competitive spreads

  • Transparent fees and commission structure

  • The brokers accept US clients

  • Wide variety of forex pairs

  • Diverse educational and analysis tools

  • Beginner friendly navigation

  • Regulated in multiple jurisdictions and by top-tier regulatory bodies, including the CFTC, FCA, and CySEC


Cons

  • Limited trading markets

  • No negative balance protection for U.S. clients



FOREX.COM FOREX BROKER DESCRIPTION

ABOUT FOREX.COM

FOREX.com is an international online forex broker founded in 2001. While only is F.X. trading is offered to US based clients, the platform supports Gold, Silver, and Futures trading for clients residing outside the USA. It is a wholly owned subsidiary of the StoneX Group Inc.

Residents outside the U.S. can access Forex.com's full range of offerings, including spread betting and cryptocurrency CFDs trading. U.S. residents have access to over 80 currency pairs (for clients based in the USA only), multiple Forex.com account types, transparent pricing, and support for MetaTrader 4 and MetaTrader 5.

This Forex.com broker review further explains all you need to know about this broker.

Supported Countries

Forex.com brokers offer a wide range of services, but the exact services you can access depends on your country of residence. Residents of Canada and the United Kingdom can access all products except the CFDs on cryptocurrencies. On the other hand, U.S. residents have no access to CFDs (CFDs, Metals, Crypto CFDs & Stocks CFDs).

Due to governmental (OFAC) restrictions and company policies, residents from certain countries may not access Forex.com trading services. These restricted countries are Afghanistan, Angola, Belarus, Burundi, Central African Republic, Chad, Congo Republic, Côte D'Ivoire, Cuba, Democratic Republic of Congo, Equatorial Guinea, Eritrea, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Lebanon, Liberia, Libya, Myanmar, New Zealand, Nigeria, North Korea, Sierra Leone, Somalia, Sudan, Syria, Turkmenistan, Uzbekistan, Western Sahara, Yemen, and Zimbabwe.

Citizens of these countries will have to go to supported regions to access Forex.com services.

Customer Service Rating

Forex.com reviews are "great" on Trustpilot with a 4.2 rating based on 323 reviews. Most positive reviews lauded customer support and even praised specific agents by name.

The negative Forex.com reviews centered around withdrawal issues. Like most brokers (this is a standard and regulated practice), Forex.com requires you to withdraw via your deposit methods before you can use other withdrawal methods to withdraw your funds (because deposits need to go back to their source while profits can be withdrawn to a nominated bank account). From experience, this policy rarely sits well with customers and is the reason for many Forex.com complaints.

FOREX.COM TRADING INFORMATION

Forex.com allows clients to trade over 80 currency pairs (for clients based in the USA only) and benefit from competitive spreads and fast order execution.

Forex.com Broker Trading Platforms

Forex.com broker supports 3 trading platforms: their proprietary Forex.com trading platform, MetaTrader 4 and MetaTrader 5.

Forex.com

The Forex.com broker Platform provides access to all markets, performance analytics, price alerts, and unique SMART signals. However, it doesn't support algorithmic trading and VPS hosting. It is available for web browsers, mobile devices, and desktop applications. Traders wanting to open a commission or STP Pro account must use the Forex.com platform, as those accounts are unavailable on the MetaTrader 4 platform.

MT4

MetaTrader 4 is the option for anyone who wants to use automated trading strategies on Forex.com. The platform uses Expert Advisors and provides free VPS hosting. It also allows traders to reduce their leverage from 1:50 to 1:20 or 1:10. The downsides are that it only works with the standard account. It is available for web browsers, mobile devices, and desktop applications.

MT5

MetaTrader 4 is another option to use automated trading strategies on Forex.com. It's enhanced version of MetaTrader 4.

Mobile App

Forex.com broker offers a state-of-the-art mobile app tailored to the needs of modern traders. The Forex.com app review discovered that a major advantage of the app is the quality of execution with one-swipe trading, allowing for rapid responses to market changes. The app incorporates advanced TradingView charting and analysis tools, ensuring users have in-depth insights at their fingertips. With real-time trade and order alerts, traders stay informed of all critical market movements. Moreover, full account management features ensure users can handle all aspects of their account, from funding to withdrawals, directly from the app.

Trading View

TradingView is a powerful charting and analysis tool and Forex.com integrates this tool, to offer its traders unparalleled insights. With advanced trading capabilities, one of the world’s largest platforms, users can delve deep into market analysis, harnessing a suite of instruments. Recognizing the needs of contemporary traders, Forex.com doesn't stop at desktop integration. They also have a mobile app. They've seamlessly extended TradingView's prowess to their mobile app, ensuring traders can access these robust features anywhere. This Forex.com broker review found that the trading tool is suitable for both beginners and professionals with a simple-to-use interface.

COMPARE FOREX.COM ACCOUNT TYPES

Trading Denominations on Forex.com

There are 7 distinct base currencies in which Forex.com broker accounts can be denominated. These denominations are USD, EUR, CAD, JPY, CHF, AUD, and GBP.

Forex.com Leverage

Forex.com offers 1:50, which traders cannot change on the standard, STP Pro, and Commission accounts. Only traders using the MetaTrader account can reduce the leverage to either 1:10 or 1:20. The margin requirement for trading leveraged forex depend on the currency pair. See the table below.

Currency PairMRCurrency PairMRCurrency PairMR
AUD/CAD3%AUD/CHF3%AUD/CNH5%
AUD/JPY3%AUD/NOK7%AUD/NZD3%
AUD/PLN5%AUD/SGD5%AUD/USD3%
CAD/CHF3%CAD/JPY2%CAD/NOK7%
CAD/PLN5%CHF/HUF5%CHF/JPY3%
CHF/NOK7%CHF/PLN5%CNH/JPY5%
EUR/AUD3%EUR/CAD2%EUR/CHF3%
EUR/CNH5%EUR/CZK10%EUR/DKK2%
EUR/GBP3%EUR/HKD20%EUR/HUF5%
EUR/JPY2%EUR/MXN10%EUR/NOK7%
EUR/NZD3%EUR/PLN5%EUR/RUB20%
EUR/SEK3%EUR/SGD5%EUR/TRY12%
EUR/USD2%EUR/ZAR7%GBP/AUD3%
GBP/CAD3%GBP/CHF3%GBP/DKK5%
GBP/HKD20%GBP/JPY3%GBP/MXN10%
GBP/NOK7%GBP/NZD3%GBP/PLN5%
GBP/SEK5%GBP/SGD5%GBP/USD3%
GBP/ZAR7%HKD/JPY20%NOK/DKK7%
NOK/JPY7%NOK/SEK7%NZD/CAD3%
NZD/CHF3%NZD/JPY3%NZD/USD3%
SGD/HKD20%SGD/JPY5%TRY/JPY12%
USD/CAD2%USD/CHF3%USD/CNH5%
USD/CZK10%USD/DKK2%USD/HKD20%
USD/HUF5%USD/ILS20%USD/JPY2%
USD/MXN10%USD/NOK7%USD/PLN5%
USD/RUB20%USD/SEK3%USD/SGD5%
USD/THB20%USD/TRY12%USD/ZAR7%
ZAR/JPY7%XAG/USD100%XAU/USD100%

Deposits and Withdrawals

Deposits and some withdrawals are free. However, the involved bank may charge a fee for the transaction.

 

Deposits 

The minimum initial deposit is $100. Deposit channels are debit cards, bank transfers, and wire transfers. Clients can deposit in the following currencies: USD, EUR, CAD, JPY, CHF, AUD, and GBP. 

There are no fees for incoming wires, but your bank may charge a service fee. If you are transferring from outside the U.S., you may need to use an intermediary U.S. bank, which may include a transaction fee. You may also be charged a cross-border or currency conversion fee by your issuing bank.

Deposit MethodMinimum DepositProcessing Time
Bank Transfer (ACH)$100 Same business day
Wire TransferNo minimum1-2 business days for domestic wires and 2-5 days for international wires
Debit cards$100Same business day

Withdrawals

Forex.com requires that funds must be withdrawn to the originating method of deposit. Any remaining funds may be withdrawn by other methods. If your deposits came in through multiple methods, you must withdraw the funds in the following order: Bank Transfer, Debit Card, and Wire.

Forex.com will also verify that you own any bank account or debit card you add. Note that you cannot withdraw funds deposited by bank transfer until 5 business days after the deposit date. Withdrawals are usually processed immediately. 

MethodProcessing Timeminimum amountFee
Debit cardsUp to 48 business hours$100, or all your available account balance (whichever is lower)Free
Bank TransfersUp to 48 hours$100, or all your available account balance (whichever is lower)Free
WireUp to two business days within the US and five business days for international wiresNo minimumA $25 fee is charged within the US, $40 for international wires (including Canada) for withdrawals lesser than $10,000

Forex.com Commission Fees

The broker offers a commission and fee structure designed to cater to diverse trading preferences. The forex.com spread is competitive, especially when considering forex trades where they impose low fees.

For detailed insights, they lay out commissions and fees specifically for each account type and commodity. Notably, they offer low fees for forex trades, making it competitive with some of the best forex brokers. However, it's vital for traders to note that while the forex.com fee structure offers advantages for forex trading, stock/CFD fees are on the higher end, and there is an inactivity fee.

A major point to highlight is their charge of approximately $7 for every $100k USD traded. This fee clarity emphasizes Forex.com's commitment to transparent trading.

Forex.com Discounts and Promotions

Forex.com often provides appealing promotions for its traders, but the discounts and promotions vary with time. At the time of writing, here are the promotions that traders can enjoy:

- a 4.5% interest on average daily margins and

- a 5% cashback on the new deposit.

- an Active Trader Program offers ongoing benefits for regular traders that incentivize active trading.

These promotions and the typical forex.com fees can be viewed on their promotions page. Always check for the latest forex.com discount updates before making decisions.

COMPANY STRUCTURE

FOREX.com's business name is GAIN Capital Holdings, a StoneX Group Inc subsidiary. As GAIN Capital Holdings, the company includes related businesses such as City Index, an online CFD and spread betting provider, and Daniels Trading, a futures advisory trading firm. All three firms are members of StoneX Group Inc.

The StoneX Group Inc. (formerly INTL FCStone) is a publicly traded company (NASDAQ: SNEX) providing financial access.

GAIN Capital Group LLC (dba FOREX.com) has offices in the United States.

Forex.com Licenses and Regulatory Compliance

Forex.com is regulated in multiple jurisdictions. However, local laws within these jurisdictions limit the services it can offer to its clients.

IIROC: Forex.com is regulated by the Investment Industry Regulatory Organization of Canada (IIROC).

CySEC: Forex.com is regulated by the Cyprus Securities & Exchange Commission (CySEC).

USA: Forex.com is regulated by the National Futures Association (NFA #0339826) and the Commodities Futures Trading Commission (CFTC).

Cayman Islands: Forex.com is regulated by the Cayman Islands Monetary Authority (CIMA).

U.K.: Forex.com is regulated by the Financial Conduct Authority (FCA #113942).

Japan: Forex.com is regulated by the Financial Services Agency (FSA).

Singapore: Forex.com is regulated by the Monetary Authority of Singapore (MAS)

Australia: Forex.com is regulated by the Australian Securities and Investments Commission (ASIC).

Forex.com Customer Protection

Forex.com uses a combination of risk management strategies, regulatory compliance, and internal customer safety policies to protect its clients. Here is a brief down of the customer security and protection measures.

Risk management philosophy

Forex.com regularly reviews procedures to protect customer assets and serve their best interests. They also maintain capital levels above the requirements stipulated by regulators and access to an established global liquidity plan from the StoneX group.

Customer funds

All customer deposits were segregated from the broker operating funds and warehoused in the vault of custodian banks and brokers distributed worldwide. They also report daily to the NFA (U.S.) on customer assets, excess funds, and their obligations to customers.

Asset protection

Clients from the U.K. and the E.U. are protected through the Financial Services Compensation Scheme (FSCS) for up to £85,000. Canadian residents also have additional asset protection through the Canadian Investor Protection Fund.

Negative balance protection

As per the ESMA rules, Forex.com offers guaranteed stop losses at an additional cost for its U.K./E.U. clients.

Login and data protection

FOREX.com provides clients with two-factor authentication (2FA) and biometric authentication using its mobile application. The broker also encrypts data using SHA256, TripleDes, and MD5.

LEARNING RESOURCES ON FOREX.COM

Forex.com stands out not just for its trading platform and competitive forex.com spreads but also for its dedication to educating its users. They offer a ton of articles and learning resources tailored for traders of all experience levels.

Trading Academy

One of the prominent features is the Trading Academy, which caters to beginner, intermediate, and advanced traders. It is comprehensive, covering various topics, including forex.com account types, trading platform tutorials, and practical trading tips. These resources can be incredibly valuable, especially when maximizing the benefits of any forex.com discount available.

Webinars

Forex.com also puts together regular webinar sessions that offer an in-depth look at the latest market-moving events. At these sessions, the Forex.com research team usually identifies critical information that influences the market, helping traders to forecast potential price movements and capitalize on opportunities.

Video Tutorials

The Video Tutorials are a must-visit for those looking to optimize their trading experience. Learn how to make the most of platforms like MetaTrader, Web Trader, and the FOREX.com apps and maximize your profit.

Whether refining your strategy or trying to understand forex.com spreads better, Forex.com has the resources to help you.

OPENING A FOREX.COM ACCOUNT

Opening a Forex.com account is an easy and straightforward process, but it might take a few business days to get the account fully set up. Traders also get access to a demo account that provides an interface to practice trading on Forex.com without risking their money.

  1.  Head to Forex.com
  2.  Click 'Open an Account'
  3.  Choose a trading platform. Traders can select between the several trading platforms Forex.com offers for trading. The broker supports MetaTrader 4, a mobile platform, and web-based trading platform.
  4.  Choose your account type. orex.com broker offers several  trading account types depending on your contracting entity : Standard, MT4, MT5, Commission, Raw pricing and others and STP Pro. They also offer a corporate account for trading companies. Spread-only & RAW Pricing are the available account types for clients based in the USA. Your choice of account type should depend on your capital and your purpose for the account.
  5.  Enter your personal and financial information
  6.  Verify your account by uploading photo identification
  7.  Link your funding source
  8.  Start trading!

 

FINAL THOUGHTS ON FOREX.COM

Forex.com is a global F.X. and CFDs broker regulated by over 8 regulatory bodies from various continents. They offer thousands of trading products, educational resources and excellent customer support.

Forex.com stands out as an outstanding forex broker with thousands of trading products for forex trading, competitive fees, a wide array of currency pairs, and an impressive suite of technical research tools. The favorable forex.com spreads and positive feedback from the forex.com withdrawal review further collaborates its excellence in the trading world. To summarize, Forex.com provides everything you need for forex trading: low forex fees, many currency pairs and lots of technical research tools. However, we encourage traders to delve deeper and explore the platform firsthand to experience its features through its demo account.

 

Trading accounts of Forex.com

  • Spread Only
  • Raw Pricing
Trading platforms: MetaTrader 4, FOREXTrader PRO
Minimum Deposit : 100 $
Deposit currency :
USD - US Dollar
EUR - Euro
JPY - Japanese Yen
GBP - British Pound
AUD - Australian Dollar
CHF - Swiss Franc
CAD - Canadian Dollar
Trading instruments:
Forex1:50
Number of currency pairs: 47
  • AUD/CAD
  • AUD/CHF
  • AUD/EUR
  • AUD/JPY
  • AUD/NZD
  • AUD/USD
  • CAD/CHF
  • CAD/JPY
  • EUR/CZK
  • EUR/DKK
  • EUR/GBP
  • EUR/HUF
  • EUR/JPY
  • EUR/NOK
  • EUR/NZD
  • EUR/PLN
  • EUR/SEK
  • EUR/TRY
  • EUR/USD
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/JPY
  • GBP/NZD
  • GBP/USD
  • NZD/CAD
  • NZD/CHF
  • NZD/JPY
  • NZD/USD
  • SGD/JPU
  • USD/CAD
  • USD/CHF
  • USD/CNH
  • USD/CZK
  • USD/DKK
  • USD/HKD
  • USD/HUF
  • USD/JPY
  • USD/MXN
  • USD/NOK
  • USD/PLN
  • USD/RUB
  • USD/SEK
  • USD/SGD
  • USD/TRY
  • USD/ZAR
  • ZAR/JPY
CFD's1:50
Amount of assets : 78
  • Indices
  • Products
Metals1:50
  • Gold
  • Silver
Energy sources1:50
  • Oil
  • Gas
Minimum position size:
0.01 лотов
Execution type:
Market Execution
Swap Free:
No
VIP Account:
No
Spread type:
Floating
Decimal places:
5 characters
Phone trading:
No
Trading platforms: MetaTrader 4, FOREXTrader PRO
Minimum Deposit : 100 $
Deposit currency :
USD - US Dollar
EUR - Euro
JPY - Japanese Yen
GBP - British Pound
AUD - Australian Dollar
CHF - Swiss Franc
CAD - Canadian Dollar
Trading instruments:
Forex1:50
Number of currency pairs: 47
  • AUD/CAD
  • AUD/CHF
  • AUD/EUR
  • AUD/JPY
  • AUD/NZD
  • AUD/USD
  • CAD/CHF
  • CAD/JPY
  • EUR/CZK
  • EUR/DKK
  • EUR/GBP
  • EUR/HUF
  • EUR/JPY
  • EUR/NOK
  • EUR/NZD
  • EUR/PLN
  • EUR/SEK
  • EUR/TRY
  • EUR/USD
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/JPY
  • GBP/NZD
  • GBP/USD
  • NZD/CAD
  • NZD/CHF
  • NZD/JPY
  • NZD/USD
  • SGD/JPU
  • USD/CAD
  • USD/CHF
  • USD/CNH
  • USD/CZK
  • USD/DKK
  • USD/HKD
  • USD/HUF
  • USD/JPY
  • USD/MXN
  • USD/NOK
  • USD/PLN
  • USD/RUB
  • USD/SEK
  • USD/SGD
  • USD/TRY
  • USD/ZAR
  • ZAR/JPY
CFD's1:50
Amount of assets : 78
  • Indices
  • Products
Metals1:50
  • Gold
  • Silver
Energy sources1:50
  • Oil
  • Gas
Execution type:
Market Execution
Swap Free:
No
VIP Account:
No
Spread type:
Floating
Decimal places:
5 characters
Speed ​​of execution:
1 sec.
Phone trading:
No

Contacts of Forex.com

Headquarters
USA , Warren, NJ30 Independence Blvd
show on the map

Recent customer reviews of Forex.com

Jesus Holmes 03 January 2023

Advantages: It provides a wide range of markets to trade on. There are no hidden fees, unlike some brokers.

Disadvantages: The minimum deposit there is $100, and it's higher than average. Many trading strategies are permitted there, so it's not suitable for most traders.

Comment: Not the best option, especially if you're just a beginner because it doesn't allow copy trading, for instance. But even if you're an experienced trader, you'll notice the lack of instruments on its MT5 platform, so I don't know if many traders will find it actually good.

Comment
Add a COMMENT
Gabriel Watkins 28 November 2022

Advantages: A large number of trading instruments A unique PAMM system for investments Narrow spreads

Disadvantages: Read the comment

Comment: I write in support, swear. We are dealing with the situation. Not fast. But, in the end, everything was blamed on a failure in the terminal, some technical problems there. The deal was canceled. It's generally good that mistakes are recognized. But I would like to avoid such situations. The nerves are not iron. Opened a deal. Steady downward trend. Everything seems to be fine and then the hairpin goes up sharply. The transaction is at a loss. And the minus is not bad. I rushed to analyze the market, monitor other brokers. There is no such hairpin anywhere, as there was a downward trend, so it remained everywhere.

Comment
Add a COMMENT
Milo King 28 November 2022

Advantages: Several options for the affiliate program High reputation among users Reliability and security

Disadvantages: Complex registration High entry threshold

Comment: The first couple of months I was a little nervous. I couldn't figure out the bonus promotion and the withdrawal seemed too long to me. But then I figured it out, calmed down and still trade in the company. And this is almost three years. I want to note that the work of this broker's platform is perfect. I would like to have smaller spreads, but it doesn't matter. I have used signals from different sources many times and I can say that they are probably the highest quality in yumarkets. I have already got used to the fact that the money ordered for withdrawal has to wait about a week.

Comment
Add a COMMENT

Forex.com webinars and seminars

11:24 22 JULY, 2017
Webinar: “Live Trading Sessions” - Forex.com

Forex.com’s webinars are led by its team of professionals with the objective of providing real-time trading ideas and insigh ...

Forex.com is often compared with


Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.