Risk Warning: 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.
When choosing an online forex broker, research and comparison shopping is critical. However, it’s also time-consuming. Our job is to do the deep diving for you, which is...
When choosing an online forex broker, research and comparison shopping is critical. However, it’s also time-consuming. Our job is to do the deep diving for you, which is exactly what we’ve done with Forex.com. In our comprehensive Forex.com review, we’ve covered every detail. Our areas of focus include regulation & safety, trading platforms, products, fees, customer support, and more.
At the end of this review, you’ll have gained the insights necessary to make an informed choice about Forex.com. Before going any further, it’s important to note that Forex.com experiences are based on location. What we experienced when writing our review, might be different from your experience from a different region.
TL;DR
Forex.com is an award-winning forex broker.
Strong regulatory oversight is one of Forex.com’s defining features.
Forex.com is limited in products but offers a great range of currency pairs.
Multiple platform options make it possible to customize the trading experience
This broker offers exceptional educational materials for all levels of traders.
Advanced trading tools provide insights for informed forex trading decisions.
Forex.com’s interface comes with a bit of a learning curve for new users.
This might not be the best option for traders looking to diversify their portfolios.
Criteria Breakdown
At TopBrokers, we’re committed to fair, transparent, and honest broker reviews. To accomplish this, we use a set of defined criteria when looking at each broker. During this Forex.com review, we go deep into the details of seven criteria areas. Each is rated on a scale of 1 to 5, representing how Forex.com performs in each category. Scores are based on our experience with Forex.com, combined with the influence of community and expert influence.
Criterion
Rating
Comments
Regulation and Safety
5/5
Regulated by top-tier authorities (FCA, CFTC, NFA)
Trading Platforms
4/5
Offers proprietary platform and MetaTrader 4/5
Product Range
3/5
A good variety of forex pairs and CFDs lacks stocks/bonds
Fees and Commissions
4/5
Low forex fees, no withdrawal fee, high stock CFD fees
Customer Support
3/5
Mixed reviews on quality and responsiveness
Educational Resources
4/5
Diverse technical research tools and educational materials
Deposit and Withdrawal Options
4/5
Multiple options, some reported withdrawal issues
User Reviews
4/5
Mixed feedback from users but mostly positive
Forex.com: What It’s Best Known For
The Forex Trading Specialist
Forex.com is an award-winning global forex trader in the market since 2001. With a strong reputation, there are a number of ways this broker stands out from the rest. However, they are best known for focusing on forex trading. This is also a feature that’s frequently mentioned in Forex.com reviews. This makes Forex.com a top choice for dedicated forex traders who don’t want or need much of anything else. Additionally, they offer a solid selection of CFDs for diversified investing. It’s worth mentioning that CFDs can be an extremely dangerous venture. Understanding these risks is important for protecting your investments.
Image Credit: Forex Forex.com is a respected forex-trading specialist with a global presence.
Features
Wide Range of Currency Pairs: Forex.com offers more than 80 currency pairs, including both major and exotic pairs. Forex.com also offers market-leading low pricing, including both RAW pricing and spread-only.
Advanced Trading Platforms: Forex.com offers specialized, advanced trading platforms to cater to the needs of forex traders. Among its lineup are the MetaTrader platforms and its proprietary Forex.com platform.
Mobile Trading Capabilities: With Forex.com, traders can take advantage of mobile trading capabilities with the Forex.com mobile app. The mobile app allows trading on the go, with one-swipe trading. Along with this are access to advanced trading tools, real-time alerts, and a full range of account management tools.
Range of Account Types: Clients with Forex.com have access to a range of specialized trading accounts. These include spread-only accounts, RAW pricing accounts, and MetaTrader accounts. Corporate accounts are also available.
Pros
Top-Tier Regulation
Forex.com is regulated worldwide by some of the most respected regulators. For traders, this offers peace of mind, trust, confidence, and security.
Low Forex Fees
Among forex brokers, Forex.com is known for its low fees. They offer both spread-only and RAW pricing options. As an example of low fees, the spread-only account offers zero commission and spreads as low as 1.2 pips.
No Withdrawal Fees
Forex.com offers no withdrawal fees in most cases. The only exception is withdrawals made via wire transfer, which includes a fee of $25 – $40.
Diverse Research Tools
Trading and research tools offer insights that lead to more successful investment decisions. With Forex.com, clients have access to tools like Capitalise.ai, Performance Analytics, Market 360, and Trading Central.
Cons
High Stock CFD Fees
Compared to other brokers, Forex.com’s fees for CFD trading are a bit on the high side. CFD commission for UK and European stocks is 0.08%, with US stocks charging 1.8CPS. Additional overnight CFD financing fees should also be considered.
Limited Product Portfolio
Forex.com is great at what it does, which is forex trading. However, investors wanting to diversify their portfolios may wish to go with a broker who offers more diverse product options.
User Interface Could Be More Intuitive
The Forex.com interface leans toward being more complex and technical compared to many other online brokers. There’s nothing inherently wrong with this for more experienced traders. However, it would benefit new traders if the interface were more intuitive to use and easier to learn.
Criteria Evaluation
Regulation and Safety: 5/5
Forex.com is highly regulated, which is a significant strong point in the world of online brokers. Multiple top-tier regulators around the world regulate them. This includes the NFA and CSTC in the United States, and CIRO in Canada. Additionally, CySEC (Cyprus), the FCA (UK), FSA (Japan), ASIC (Australia), MAS (Singapore), and CIMA (Cayman Islands) regulate them. You can learn more about the importance of regulation, and reputable brokers on our broker by regulation page.
In addition to robust regulation, Forex.com takes additional safety and security measures. They undergo routine audits and have a strong risk management policy in place. Forex.com is a subsidiary of StoneX, which is a publicly-traded company.
Image Credit: Forex Forex.com is regulated by top-tier authorities worldwide.
Trading Platforms: 4/5
Forex.com offers a good range of trading platforms for clients to choose from based on their trading needs. These include the gold standard MetaTrader platforms, both MetaTrader 4 and MetaTrader 5. In fact, Forex.com is rated among our choices for the best brokers by trading platform for MT4 and MT5.
In addition to MetaTrader, Forex.com also offers WebTrader, Trading View, mobile platforms, and a simulated forex trading platform.
Product Range: 3/5
For all the ways Forex.com knocks it out of the park, this is one area where they are rather limited. However, forex is their primary focus, and they are tailored to customers looking for the best forex broker.
Available products are dependent upon location. In addition to forex, Forex.com offers futures & futures options, and stocks. This isn’t the best broker for diversifying an investment portfolio. Still, they are a top-notch choice if forex is the focus of your investment strategy.
Fees and Commissions: 4/5
Fees and commissions with Forex.com are generally low compared to similar online brokers. Fees largely depend on account type. Spread-only accounts are zero commission with variable spreads. Spreads start as low as 1.2 pips and are generally low across the board.
The RAW account offers spreads as low as 0.0, but commission costs are higher. Commissions are a fixed $7 per $100,000 (US funds). For large-volume traders, Forex.com offers a $10 rebate per $1 million traded.
Like many other online brokers, Forex.com does charge an inactivity fee. For accounts that have been inactive for 12 months, a $15 monthly fee is applied until the account becomes active again.
Customer Support: 3/5
Forex.com has a history of mixed reviews and experiences for customer support. Currently, their customer support seems to have improved greatly. However, in the past, there have been numerous reports and reviews citing customer service issues. These include slow responses, unhelpful assistance, and lack of knowledge.
We’d like to give Forex.com a higher score in this area given their more recent performance, but their history is reason to pause. If they continue their upward trajectory in this area, we are more than happy to revisit our Forex.com review and revise the score in this area.
For customers who are looking for help, the support team is easy to contact. Assistance is offered via chat and phone support. An email is also provided, but this doesn’t appear to be the best avenue for problem resolution.
Educational Resources: 4/5
Where other brokers offer a few educational resources, Forex.com offers an entire academy. They make it easy to find the resources each customer needs by providing levels, including beginner, intermediate, and advanced programs. All courses can also be accessed individually without following a complete program.
In addition to the courses, which are focused mainly on forex trading, this broker offers a library of tutorials. These cover everything from charting tips for beginners and web trading to a better understanding of what drives forex markets.
Deposit and Withdrawal Options: 4/5
Forex.com provides the basics of deposit and withdrawal methods. Credit and debit cards, bank transfers, and wire transfers are accepted methods for both deposits and withdrawals. They do refuse Western Union or PayPal.
Minimum deposit is $100 with debit cards and bank transfers. The maximum deposit is $10,000, with the exception of wire transfers that do not have a limit. While the minimum deposit is $100, Forex.com recommends depositing at least $2500. This is to provide better flexibility in managing your trades and accounts
There is also a $100 minimum withdrawal amount. The maximum withdrawal amount is $25,000 per transaction, excluding wire transfers.
User Reviews: 4/5
Current user reviews for Forex.com are overwhelmingly positive. Still, we don’t want to discount some of the less positive reviews, as those can signal key pain points for a broker. Forex.com users cite its performance in the forex trading market, including a wide range of currency pairs. Customer support reviews have increased noticeably in the past few years, which is a plus. Overall, if we were choosing a broker just on user reviews, Forex.com would be a contender.
Image Credit: Forex Forex.com has received multiple awards, placing it in the top-tier of forex brokers.
Community Reviews and Expert Recommendations
Now, let’s go a bit deeper into community reviews and what the experts think about Forex.com. Starting with the community, Forex.com generally receives positive reviews. On the review site Trustpilot, Forex.com has earned 4.7 out of 5 stars, with over 1,500 reviews.
Here’s an example.
“I have had a live account with Forex.com for about three months. All is well so far. I’ll be increasing funds after my trading strategy proves successful. Good to know that the broker is US regulated. The challenge is making a profitable strategy with the account constraints required under US regulation.” – Trustpilot review.
However, not every review is positive. For example, this review of Forex.com’s mobile app.
“This mobiAndroidfor android crashes if left minimized for about 10 minutes. So I have to constantly log in to check my position status. It crashes so often that my phone gives me a recommendation to uninstall it due to frequent crashes. No other app crashes on my phone, just this one. If they can fix this problem this app will be 4-5 stars. Update: No one has addressed this issue. Many times I need to close my position and the app is unreliable. I’ll have to move my funds to another broker.” – Google Play review.
From the experts, most are happy enough to recommend Forex.com. Strong regulation is a major selling point among experts, as is the wide range of currency pairs, and trading platforms.
Price
There isn’t a monthly or annual fee for signing up with a Forex.com account. The broker works entirely on a spread and commission model. The price an individual trader pays depends on which instruments are traded and account type. Forex.com does charge an inactivity fee, however, it applies only after a full 12 months of non-use.
Where to Find
Visit Forex.com to learn more about the platform and do a deep dive with your own research. The site is easy to navigate, and it offers a comprehensive FAQ section to answer any questions we may have missed.
Visit Forex.com at the following sites, based on your location.
eToro is another highly regulated broker and is well respected in the industry. eToro has a massive customer base, with over 35 million users worldwide. It is also considered one of the world’s leading social trading platforms, making it a top choice for novice traders. eToro is also a great choice if you’re looking to diversify your portfolio more than what Forex.com offers. Our eToro review explains more about what this broker offers.
FP Markets offers both Forex and Iress accounts and is competitive with Forex.com in areas like platform options. FP Markets also offers social trading, but overall their appeal is for more advanced traders. They offer over 10,000 instruments and are robustly regulated by top-tier authorities. Our FP Markets review highlights all the key details.
AvaTrade is an online broker that checks all the boxes and earns positive feedback from both customers and experts. In our AvaTrade review, we broke down why AvaTrade is a good option. For those considering Forex.com, AvaTrade matches them in regulation, reputation, platforms, tools, and more. AvaTrade offers forex, CFDs, and crypto. Additionally, they provide educational resources that match the level offered by Forex.com.
FXGlory is an online broker with a long history of forex trading success. FXGlory isn’t as highly regulated as Forex.com, which is a concern, but they do offer a good number of currency pairs and a low minimum deposit. FXGlory isn’t for everyone, but if you’re looking for a low-cost entry into forex trading, this is an option. Just use caution before investing too much due to the lack of regulation. More on this broker with our FXGlory review.
Final Thoughts
During our Forex.com review, we’ve covered a lot of territory. We’ve looked at Forex.com’s strong points, such as the level of security and strong regulation. We’ve also looked at the broker’s weaker points, including a past customer service record that’s less than sparkling and limited products. Overall, Forex.com is a forex broker that we are confident in recommending, especially for intermediate or advanced-level traders.
Here are a few key takeaways from our Forex.com review.
Forex.com is an award-winning, reliable global forex broker.
While they don’t offer a diverse range of products, they are a leader in forex trading.
Forex.com is one of the most regulated, secure online brokers.
They offer a great range of educational materials for all levels of traders.
Overall fees are low with Forex.com, but stock CFDs are an exception.
Forex.com offers a demo account, which is a great way to better understand its platform.
When researching forex brokers and entering the world of online trading, having a trusted partner is important.
At TopBrokers, we specialize in providing broker reviews and resources tailored to the needs of today’s investment traders. With each review, we look at critical components that matter to help you make the most informed decisions. We encourage you to explore our broker reviews and visit often for the latest market news.
Read real reviews from traders all over the world:
J
Jesus Holmes
3 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.
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.
G
Gabriel Watkins
28 November 2022
Advantages:A large number of trading instruments
A unique PAMM system for investments
Narrow spreads
Disadvantages:Read the 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.
Forex.com broker offers four trading account types: Standard, MT4, Commission, and STP Pro. They also offer a corporate account for trading companies.
Standard Account
The standard account is perfect for traditional traders. It offers competitive Forex.com spreads (starting from 1.0) and no extra commissions. You can use the standard account via the Forex.com platform. It offers advanced charting tools and up to 15% cash rebates.
MT4 Account
The MT4 account is a version of the standard account designed for those who want to trade via the MT4 platform. Unlike the regular standard account, the MetaTrader account offers cash rebates of up to $10 per million traded, fully integrated Reuter news and technical analysis tools.
Commission Account
The commission account offers increased flexibility in terms of commissions. It has low spreads (starting at 0.2) and a $5 commission per 100k traded. The reduced spreads and commissions are what differentiate it from the standard account. However, you can only use the Commission account via the Forex.com trading platform.
STP Pro Account
This account is designed for experienced traders who want to trade large volumes regularly. It offers a tiered commission structure. The minimum trade size is 100,000 (one standard lot), and the platform recommends having at least $25,000 in your trading wallet. The key benefits include interest on your average daily available margin balance and one-on-one support, priority service, waived bank fees, and access to deep F.X. liquidity pools. This account is only available on the Forex.com trading platform.
Corporate Account
The Corporate account is a feature for businesses to manage multiple traders within a single account. It is ideal for clients that want to trade under a corporate identity. Clients can fund the account via a company account, make trades using a business name and grant multiple traders simultaneous access to the account.
Spread-Only - Forex.com
Scalping
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Trading Platforms
METATRADER 4 METATRADER 5 FOREXTRADER PRO
Deposit currency
USD
EUR
GBP
CAD
CHF
AUD
JPY
Trading instruments
Forex
1:50
Number of currency pairs: 20
AUD
CAD
CHF
EUR
JPY
NZD
USD
CZK
DKK
GBP
HUF
NOK
PLN
SEK
TRY
SGD
CNY
MXN
RUB
ZAR
CFD's
1:50
Amount of assets: 78
Indices
Promotions
Metals
1:50
Gold
Silver
Energy Source
1:50
Gas
Oil
Execution type
market
Spread type
Floating
Decimal places
5
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
Raw Pricing - Forex.com
Scalping
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Trading Platforms
FOREXTRADER PRO METATRADER 4 METATRADER 5
Deposit currency
USD
EUR
GBP
CAD
CHF
AUD
JPY
Trading instruments
Forex
1:50
Number of currency pairs: 19
AUD
CAD
CHF
EUR
JPY
NZD
GBP
HUF
NOK
PLN
SEK
TRY
CZK
DKK
HKD
MXN
RUB
SGD
ZAR
CFD's
1:50
Amount of assets: 78
Indices
Products
Metals
1:50
Gold
Silver
Energy Source
1:50
Oil
Gas
Execution type
market
Spread type
Floating
Decimal places
5
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
Tradable instruments
Tradable instruments on FOREX.com trading platforms include:
Currencies
80
Commodities
10
Stocks
5500
Cryptocurrencies
8
Indices
15
Frequently asked questions
Find the right answer to your question below.
Is Forex.com safe to use?
From a security standpoint, Forex.com is one of the safest online forex brokers there is. Top-tier authorities regulate them around the globe and offer their clients robust security and protection. However, that doesn’t mean it’s impossible to lose money with Forex.com. Trading forex can be risky, and even more so with CFDs. Always do your due diligence in understanding the market and never be willing to risk more than you can afford to lose.
What trading platforms does Forex.com offer?
Forex.com offers a range of trading platforms for diverse trading needs. These include MetaTrader 4 and MetaTrader 5, which are widely popular and well-respected. Additionally, Forex.com offers its own proprietary platform, which might not be as robust as MetaTrader, but it is user-friendly. Fans of mobile trading will also appreciate Forex.com’s mobile app with full trading and account management capabilities.
What are the fees like on Forex.com?
Compared to similar online forex brokers, Forex.com fees are considered low except for CFD stock fees. Clients can choose between spread only and RAW pricing accounts. This provides the flexibility to choose between zero commission/higher spreads or commissioned trades with lower spreads. On the RAW pricing account, spreads are as low as 0.0 pips. Spread-only pricing starts at 1.2 pips. Either way, the spreads are tight. Other fees are minimal with Forex.com. With few exceptions, there are no deposit or withdrawal fees. An inactivity fee may be charged, but only after a full year on an inactive account.
What customer support does Forex.com provide?
Forex.com offers customer support that is available 24/7. Help is available via chat, phone, and email. In the past, Forex.com customer support reviews were mixed, with many customers reporting less than positive outcomes. Today, it seems the broker has addressed many of those issues, with more positive experiences being reported.
Is Forex.com suitable for beginners?
Forex.com is suitable for all levels of traders, including beginners. To help new traders along, they offer valuable educational resources covering many trading topics. Articles, webinars, and tutorials provide information in an easy-to-understand format. Forex.com also offers a demo account, which is a good introduction to forex trading for beginners. However, Forex.com isn’t the most user-friendly platform we’ve seen, and there is a bit of a learning curve. This could cause some frustrations for new traders. They also don’t provide a social trading option. Social trading is a really good way for new traders to learn from experts while trading with confidence.
Forex.com compared with alternative brokers
To see the full broker review click “See review”, to see the complete table and compare more brokers visit our Comparison page.
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