Forex.com Review
Good
Backed by NY-listed public company. 300 currencies pairs, plus commodities, bonds & more. MetaTrader 4 software. Mobile apps. Live chat.
Bad
None that could be found.
Overall
Global presence. Broad forex offering. Several trading platforms & mobile trading options. Fixed spreads. Compelling comprehensive product.
Editor's Ratings
Open AccountIntroduction
Forex.com clearly does well by owning the main domain relating to foreign exchange trades. The company is actually one trading name of GAIN Capital, which is listed on the New York Stock Exchange, a global business that specializes in CFD and foreign exchange, futures trading, as well as execution and clearing of transactions. They have web sites for clients to sign up from the USA, Canada, Australia, Hong Kong, Japan, and the UK. Furthermore, they are regulated by the FSA for operations in six jurisdictions around the world. Clearly Forex.com is no fly by night and it has some serious backing which is extremely reassuring.
Trading Opportunities
Forex.com offers currencies pairs trading with as many as 300 different foreign currencies pairs, as well as commodities, bonds and interest rates. This a much broad trading remit than available with most other forex trading platforms.
Trading Platforms
The Windows based application MetaTrader 4 is the software trading platform of choice. This has the benefit of also being supported for mobiles with apps for the iPhone, iPad, Android and now Windows Phone too. This allow the placing of new trades, viewing technical indicators and many other benefits while on the move.
Fixed Spreads
With their latest platform, Forex.com offer fixed spreads for currencies pairs, indices and commodities. They can both deal with small value trades and large trades up to the hundreds of thousands of dollars per transaction.
Account Requirements
For most of the Forex regional sites, there is a choice of two types of accounts: ForexTrader PRO and MetaTrader.
Requirements for opening an account include a low three figure initial deposit (typically around $250) paid via credit or debit card, or wire transfer, and one or more types of government issued ID with a photo, date of birth, ID number, expiry date and residential address.
Educating Traders
The web site has both a Market Analysis and a Forex Education center. These provide timely research related articles, analysis tools and some good explanations about what forex trading is all about. The former is more useful for intermediate to advanced traders, whereas the educational center is more suited for beginners.
Forex Trading Features
- Social Trading : No
- Leverage : 1:50
- Currency Pairs : 45+
- Deposit Methods : 5
- Platforms : 2
- Headquarters : USA (NJ)
- Regulated : Yes
- Year Founded : 1999
- Demo Accounts : Yes
- Training : Yes
- Support : 2
- Copy Trades : No
- Minimum Deposit : 500
- Withdrawal Options : 3
- Special Features : Yes
| Merchant | Price | |
|---|---|---|
| Official Website | $N/A | View Website |
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