Forex.com review

Introduction of the broker Forex.com

FOREX.com is a globally regulated provider of forex and CFD trading, offering a wide range of trading instruments including CFDs on currencies, indices, stocks, cryptocurrencies, and more. Established in 1999, the company now supports customers in over 180 countries with a global presence in North America, Europe, and the Asia-Pacific regions. The company is headquartered in New Jersey, USA, with offices in Canada, the United Kingdom, Hong Kong, and Australia.

FOREX.com is part of GAIN Capital Holdings, Inc., a publicly traded company renowned for its online trading solutions. All divisions of GAIN Capital Holdings, Inc. are separate yet interconnected subsidiaries of StoneX Group Inc. Throughout its years of successful operation and global expansion, GAIN Capital and its brand FOREX.com have achieved significant milestones.

Trading Platforms and Flexibility

Forex.com offers various trading platforms including MT4, MT5, WebTrader, Desktop Terminal, and TradingView. This extensive selection ensures that traders can choose a platform that suits their trading style and preferences. The broker supports mobile trading, web trading, and even operates a dealing desk, providing traders with flexibility and convenience. With a minimum trade size of 0.01 lots and a maximum leverage of 30:1, opening a live account requires a minimum deposit of only $100.

For account funding and withdrawals, Forex.com supports bank transfers (BankTransfer/SWIFT) and ACH payments (eCheck). Deposits made via debit and credit cards, as well as bank transfers, are free from any charges. Additionally, there are no fees for withdrawing funds, making the overall costs more manageable.

Deposits, Withdrawals, and Fee Structure at Forex.com

Forex.com offers accessible conditions for entering financial markets with an initial capital starting at 100 USD. The broker provides a comprehensive system of deposit methods, including bank transfers, credit and debit cards, as well as popular e-wallets like PayPal, Skrill, and Neteller—all without additional fees.

In terms of spreads, Forex.com maintains a competitive position, particularly in the forex market. The spread for the major currency pair EUR/USD starts at 1.2 pips, which represents attractive conditions within the industry. Similarly, CFD trading on indices is favorable—for example, the spread on the popular S&P 500 is just 0.4 points. Slightly higher costs can be found with stock CFDs, where the broker applies a fee of 0.018 USD per share, with a minimum transaction value of 10 USD.

Withdrawal of funds is free of charge for most international clients. Exceptions apply to traders from the USA and Canada, who pay a fee of 40 USD for international and 25 USD for domestic bank transfers on withdrawals below 10,000 USD. Card withdrawals are fee-free but are subject to a limit of 25,000 USD per transaction.

An important aspect of the fee structure is the inactivity fee of 15 USD per month, which is activated after 12 months without a completed trade. This may be a disadvantage for investors with a longer-term horizon or irregular trading activity.

Range of Trading Instruments

Forex.com offers an impressive range of trading instruments. Traders have access to over 80 currency pairs, more than 5 cryptocurrencies including Bitcoin, and over 25 CFDs on stocks, stock indices, bonds, oil, and other commodities. The platform supports advanced trading strategies such as news trading, scalping, and the use of Expert Advisors (EAs) or robots. For those interested in managed accounts, Forex.com offers MAM (Multi-Account Manager) services, enhancing its appeal to a variety of trader profiles.

Forex.com User Ratings and Reviews

It is essential to critically evaluate user reviews of Forex.com across various review platforms. Although the broker shows a high rating of 4.7 out of 5 stars on Trustpilot from over 1,700 reviews, where 83% of users gave it a full five-star rating, it is important to approach these numbers cautiously. Such overwhelmingly positive ratings may sometimes indicate the presence of marketing-driven or otherwise incentivized reviews.

Regarding mobile platforms, Forex.com achieves a rating of 4.7 out of 5 stars (1,925 reviews) on Google Play and 4.3 out of 5 stars (2,114 reviews) on the App Store. While these figures appear impressive, it is advisable to pay special attention to specific comments and user experiences, particularly critical ones, which can provide a more realistic perspective on the broker's services.

When evaluating overall performance, it is important not to base your decision solely on online reviews, which may be biased. We recommend the following:

• Thoroughly read negative reviews and identify recurring issues
• Verify experiences in independent trading communities
• Start with a smaller deposit and test the broker's services yourself
• Examine the company's regulatory history and financial stability

While Forex.com may be a quality broker, it is always better to approach overly positive online ratings with a healthy dose of skepticism and conduct your own thorough research before entrusting your funds.

Security and Regulation of Forex.com Broker

Forex.com is one of the well-established brokerage firms that has built a stable position in the market over its more than 20 years of existence. Under the umbrella of the American group StoneX, which is listed on the prestigious NASDAQ stock exchange, the broker gains additional credibility through the regular obligation to report its financial results.

From a regulatory perspective, Forex.com meets the strictest standards. In the United Kingdom, it is overseen by the Financial Conduct Authority (FCA), which provides investment protection up to £85,000. European clients are under the supervision of the CySEC regulatory authority in Cyprus, with deposit guarantees up to €20,000 in the event of the broker's insolvency. Exceptional protection is offered by the broker in Canada, where deposits are insured up to one million Canadian dollars.

A significant security feature is the negative balance protection that Forex.com provides to retail clients from the EU and the UK. This safeguard ensures that traders cannot lose more funds than they have deposited into their trading accounts. However, this protection does not apply to professional traders and clients from other regions.

Compared to competitors, Forex.com can be considered an above-average safe broker. The combination of strong backing, regulation by leading global authorities, and a long-standing market presence provides clients with the necessary level of confidence for their trading. However, it is advisable to verify the specific conditions and level of protection for the respective region before opening an account.