GAIN Capital Australia Pty Ltd - ASIC No.ACN 141 774 727, AFSL 345646
GAIN Capital Japan Ltd - JFSA
GAIN Capital Singapore Pte Ltd - MAS
GAIN Global Markets Inc. - CIMA No.25033
What is Forex.com?
FOREX.com as a trading name and a part of GAIN Capital Holdings Inc which is a publicly-traded company providing online trading solutions. Founded in 1999, the company today supports customers in over 180 countries with a global presence across North America, Europe and the Asia Pacific regions, provides offices, while headquartered in New Jersey (US), in Canada, UK, Hong Kong and Australia.
Throughout highly developed platforms, Forex.com has developed its own platform for trading, which now is one of the best options, as clients obtaining access to the world’s most popular currencies and other trading instruments.
Overall, through the years of successful operation and its global spread, Gain Capital and its one of the brads Forex.com obtained great results and world recognition, also through the powerful trading solutions, they offer and constantly develop.
Forex.com Pros and Cons
Forex.com is sharply regulated and trustable broker with well established parent company GAIN Capital listed in Stock. Account opening is smooth and fully digital, there is great range of markets and instruments, good Cryptocurrency trading and professional trading platforms with education and research.
On the negative side trading fees for Forex CFDs might be slightly higher but among average, there is no 24/7 support and multi-currency accounts.
10 Points Summary
🗺️ Regulation and License
FCA, IIROC, ASIC, CFTC
MT4, MT5, FOREX.com Platforms
Currency pairs, Bitcoin and Ethereum, indices, shares and commodities
💰 EUR/USD Spread
🎮 Demo Account
💳 Minimum deposit
💰 Base currencies
Various currencies available
Learning materials and technical analysis
☎ Customer Support
For financial firms and trading brokers, it is crucial to obtain and keep good reputation, while Forex.com confirms its status not only by thousands of accounts they operate but through industry recognitions as well.
For about twenty years of presence and operation firm receive numerous reviews and global recognition, a really impressive number of awards and nominations, alike “Best Broker in the USA”, Shares Awards, Investment Awards, etc (See Best Forex Brokers in USA).
Is Forex safe or a scam?
FOREX.com is definitely a trusted financial service provider, as the trading name used by the GAIN Capital Holdings, principally the company incorporated in the US according to all the strictest laws and requirements.
In addition, Forex.com is a part of StoneX Group Inc. (NASDAQ: SNEX) publicly-traded company with strong corporate governance, financial reporting and industry lead.
Is Forex legit?
For the reason of global presence and truly wide operation in world financial centers, Forex.com being a part of international holding withholds regulations by various regulative authorities worldwide which includes IIROC (Canada),CFTC (USA),MAS (Singapore) and ASIC (Australia).
Forex.com (GAIN Capital) entity
Regulation and License
GAIN Capital Holdings Inc
Authorizedby CFTC (USA)
GAIN Capital Holdings Inc
Authorized by NFA (USA)
GAIN Capital UK Ltd
Authorized by FCA (UK) registration no. 113942
GAIN Capital Canada Ltd
Authorized by IIROC (Canada) registration (view the license)
Authorized by CIMA (Cayman Islands) registration no. 25033
Consequently, FOREX.com indeed complies with necessary, strict regulatory requirements and standards, while obliged to provide the safe and highest level of operations. Doubtless, the company keeps all procedures in a supreme way and including data protection, funds safety – entitling the company to hold funds in segregated accounts, secure online transactions and executions, etc.
As well, Forex.com provides central counterparty clearing through OSCA as standard to all clients.
Leverage as a popular tool widely used by the brokers and traders allows trading of larger capital compared to the initial capital. Previously brokers generously awarded trader by high leverage ratios, yet the US regulation and recent update from the European ESMA set a limited maximum in order to protect clients.
Therefore, again concerning Forex.com review of global regulation and presence, the leverage ratios will vary according to the trader’s residence, as well as under which authorization account is open.
The US clients may use a max of 1:40 leverage to Forex instruments,
European entities are set to only 1:30,
Australian clients still may enjoy leverage on Forex up to 1:400.
That limitation is done with a purpose to limit potential losses, as high leverage may impose trades quickly in reverse as well. Thus, you and any trader should use leverage levels smartly and learn how to do it correctly for a particular instrument.
FOREX Account types
FOREX.com offering three account types.Standard Account with tight forex spreads and opportunity with automatic price improvement (when the market mover in the client’s favor, savings passed automatically). Commission Account which enables additional benefits and offers ultra-tight spreads and fixed commissions.
Lastly, the third account option designed specifically for high-volume traders and named Direct Market Access Account where the maximum of the control is applied. This account is available only through proprietary platform and recommended for a minimum of 25k$ deposit, so the professional traders can benefit from superior conditions Forex.com provides.
Concerning about the fee structure, be sure you check correct conditions according to the account type you choose. Alike, Standard account based on spreads, while commission one is charged trading fee as a commission per lot.
CMC Markets Spread
EUR USD Spread
Crude Oil WTI Spread
Non Trading fees
Good to know that also FOREX.com charges an inactivity fee of $15 (or equivalent) per month if there is no trading activity for a period of 12 months or more. Accounts with a balance of 10,000 base currency are an exception.
Considering Forex.com spread charges and trading fees, we found its fee structure simple to understand, where the costs are rather competitive and low compared to the industry competition.
Standard conditions are based either on FOREX.com offers both fixed and variable spreads, depending on the market you wish to trade, along with an opportunity to reduce costs by up to 15% with cash rebates. Therefore, you may choose the suitable option and engage into trading with or without commissions, see below comparison of typical spread on Standard Account, while commission account again will charge a fee of 5$ per 100k traded.
For instance, you can compare Forex.com fees with its peer FBS.
CMC Markets Fees
Forex.com overnight fee is an additional cost, which should be considered in case you hold overnight or long position. The swap fee of the Forex.com is calculated by the percentage along with interbank exchange rates, which is defined by each instrument separately. Alike calculated by the formula as e.g. Forex.com EUR/USD overnight fee for buying position is -2.5% and 2.5% for selling.
One of the greatest things in Forex.com is its trading market range, as being a huge financial institution client getting some of the best available proposals. Which includes over 80 currency pairs and an average turnover of $5.1 trillion a day, including Bitcoin and Ethereum against USD, AUD, EUR and GBP with fixed spreads and low margin), indices, shares (without stop-specific risks, spreads from 1 pt) and commodities (with zero commission and 1% margins).
Indeed, trade of cryptocurrencies and other pairs at Forex.com is a satisfaction process, as firm owing to fixed spreads, low margin and competitive financing, as well there is no need to create a virtual wallet.
Deposits and Withdrawals
Another crucial term is to understand how to transfer money to or from the trading accounts, as various jurisdictions and contuses apply different rules towards money management. Likewise, Forex.com will offer particular conditions according to the entity and regulatory rules.
FOREX.com offers just a few payment methods, but anyhow those methods are most trustable and the most common ones.
The Deposit Options set is limited to bank transfers and Credit/ Debit Cards. All payments are typically processed within one banking day.
What is the minimum deposit for Forex accounts?
The minimum initial deposit for Forex.com is $50, but there is a recommendation to deposit $2,500 to allow flexibility, a full range of instruments and better risk management.
Forex.com minimum deposit vs other brokers
Most Other Brokers
Withdrawal options at Forex.com are wide and offering easy Bank Transfers, Card payments or e-wallets. There are no charges or any fees on debit and credit card deposits or bank transfers, there are also no charges to withdraw funds, which is indeed a pleasant addition to overall money management.
In addition, as a part of GAIN Capital Payments Ltd additional services powered by a mother-company are offered to the clients. Forex.com offering priority and regular Money Transfers from the UK, or FOREX.com account featuring fast, easy and secure online money transfers to 200+ countries, you can check more details through the official website.
There are two main choices offered as we see via Forex.com Review to the client, which goes to the option of a proprietary platform designed by Forex.com or mainstay on popular industry software MT4, also the latest version MT5.
The Forex.com review shows its own various platforms to meet unique trading needs and satisfy particular solutions, those platforms presenting powerful developed trading tools (70+ technical indicators) and signals while using instant or market execution, as well ability to set user-defined price tolerance.
User friendly trading software
MT4, MT5 and proprietary Platforms
Web, Mobile and Desktop platforms
Technical analysis and no limitation on strategies
Suitable for beginners and professional traders
Supporting various languages
Web trading platform optimized for high performance and speed on any computer, as well combining numerous integrated market analysis and tools. Yet, could be better to use a desktop platform for day trading and comprehensive strategies, since Web Platform is rather limited in its available tools.
An advanced trading platform designed especially for active traders, offering desktop viewing with a full asset of customizable preferences, indicator features, powerful charting tools and many more.
In case you would choose to use known MetaTrader4, the platform has also been enhanced with integrated pattern software and other highly developed trading tools, using the market execution method. And of course, platform poses a choice to use MT4 via Desktop, Web or iPhone, Android apps.
Mobile trading – is definitely “must have” with modern living, serves as a powerful, complete trading platform with multiple order types by hand
Considering customer support services, as an important part of the brokers’ proposal, we would say it is at the quite god level and is proud strengths as broker mention by himself. Forex.com Customer Service available for traders via phone lines, chat and emails also covering support need worldwide due to brokers presence and coverage of major destinations and including.
Since Forex.com focuses on both beginning traders and professionals as well, it does provide both Education that designed to build trading confidence and knowledge, and market analysis with latest updates to keep you on track with the improvements or changes.
Education Center provides trading concepts, technical analysis, fundamental analgises, trading strategies and trading courses available for beginner, intermediate and advanced traders. Along with that, Forex.com runs regularly Webinars, and updates with Trading News and research materials covering popular and unique points.
Overall, Forex.com as a global leader of online trade and highly regarded by numerous traders for supreme integrity FOREX.com definitely worth attention. Apart from well reputed and respected international standing of GAIN Capital Holding, which FOREX.com is part of, solid financial backup proven by the vast number of companies behind along numerous regulations worldwide. Numerous benefits in both technical and operational parts, including innovated by broker functional tools, together with an excellent customer support pillar traders getting comfortable conditions to maintain successful trade along with quite competitive pricing.
Lawal Ahmed Says:
At: 1 year ago
Is Nigerian allow to take part in the trading platform ? Can I be allowed to start the trade with the minimum amount stipulated ($50) Sir ?
Alina Chyzh Says:
At: 1 year ago
Unfortunately, Nigeria is one of the restricted countries that Forex.com does not work with. You can check other regulated brokers with a small minimum deposit that accept Nigerian residents
At: 1 year ago
Hi, I’m Indian and based in oman. Can I trade forex from on forex.com mt4 platform from oman??
Do forex. Com allow expert adviser or robotic trades???
Alina Chyzh Says:
At: 1 year ago
Oman is not restricted on Forex.com platform, so you will be able to open an account. You are given the option to open a Forex.com account and trade yourself or open an account with MetaTrader 5 and trade with the help of the software.