Forex.com

20% welcome bonus
Payouts: credit card, Neteller, Skrill, Webmoney, Western Union, Wire transfer
Min Deposit: $100

Forex.com

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Details

Broker Forex.com
Website URL https://www.forex.com/
Founded 2001
Headquarters Park House, 16 Finsbury Circus London, EC2M 7EB, United Kingdom
Support Number 0800 056 7928
Support Types Email , Callback , Live Chat , Office , Phone , Web form
Languages English , Arabic , Chinese , Japanese, Czech , French , Indonesian , Malay , Persian , Polish , Russian , Spanish , Turkish , Vietnamese
Trading Platform MT5 | MT4 | Proprietary platform | forex.com
Minimum 1st Deposit $100
Bonus 20% welcome bonus
Payout credit card, Neteller, Skrill, Webmoney, Western Union, Wire transfer
Leverage up to 400:1
Spread Starting 0 Pips
Free Demo Account Open Demo
Regulated Yes
Regulation CFTC, FCA, NFA, FSA, ASIC, IIROC, SFC, CIMA, MAS
Account Types Standard , Commission , DMA
Deposit Methods Credit/debit cards , Bank wires , Digital wallets e.g. Skrill , Neteller , Webmoney , Sofort , GiroPay , PayPal , China UnionPay
Withdrawal Methods Credit/debit cards , Bank wires , Digital wallets e.g. Skrill , Neteller , Webmoney , Sofort , GiroPay , PayPal , China UnionPay
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 5

Our Review

  1. What is FOREX.COM?
  2. FOREX.COM Pros and Cons
  3. Awards
  4. Safe or a scam?
  5. Leverage
  6. Accounts
  7. Fees
  8. Spreads
  9. Deposits and Withdrawals
  10. Market Instruments
  11. Trading Platforms
  12. Customer Support
  13. Education & Research
  14. Conclusion

What is FOREX.COM?

Forex.com, established in 2001 as a component of GAIN Capital Holdings, is a reputable international online broker that appeals to retail FX and CFD traders. StoneX Group Inc. purchased GAIN Capital Holdings, a multinational corporation that involves City Index, an online CFD and spread betting vendor, and Daniels Trading, a futures advisory trading firm, in February 2020. Globally, FOREX.com provides a wide range of products, ranging from CFDs to spread betting to futures across various asset classes. However, not all are accessible in every geographical area that it serves.
access to the markets.

FOREX.COM Pros and Cons

Forex.com is one of the safest brokers, according to our research. Its first deposit amount is affordable for every class. Forex.com reviews are mostly positive because of a Trust level of 99/99. It has a good reputation and provides many options for deposit and withdrawal accounts. It provides advanced trading and web trading with a trusted reputation. Forex.com brings many account types you can choose for your convenience. The main drawback of forex.com is the withdrawal fee which is much more than other trading brokers.

Awards

It offers certain restrictions and provides quick order execution and high leverage. The MT4 and MT5 are available along with the propriety platform. It has fewer expenses and more benefits. The security system is trustable and shows the client’s faith in forex.com as 99/99. Forex offers research and education for newer traders to become online trading experts. It has over 200,000+ active accounts worldwide. Overall around 9.6 million people are attached to forex.com online trading market. Knowing the popularity of their brand, forex.com offers many incentives and awards for their customers.

Safe or a scam?

Forex.com is regarded as a low-risk online trading market. Its parent company, StoneX, is one of the most reputable institutions which do not operate a bank. Moreover, it is authorized by four top-tier regulators whose trust level is fantastic. Here are the names of those regulators.
• Investment Industry Regulatory Organization of Canada (IIROC)
• Japanese Financial Services Authority (JFSA)
• Financial Conduct Authority (FCA)
• Commodity Futures Trading Commission (CFTC)
According to our experience, we find it very safe.

Is FOREX.COM a legit company?

Forex.com, founded in 2001, is a global FX and CFD broker. Forex.com is a StoneX Financial Ltd franchise whose parent organization, StoneX Group Inc, is a NASDAQ-listed company (NASDAQ:SNEX). Several financial authorities have started regulating the company, including the leading Financial Conduct Authority (FCA) in the United Kingdom, the US Commodity Futures Trading Commission (CFTC), and the National Futures Association (NFA). In addition, the Securities and Futures Commission of Hong Kong also oversees the group (SFC) within the country.

How are you protected?

All retail consumer funds are entirely separated from our own money and kept in separate accounts with central banks. We never take part in proprietary trading and only utilize our own resources for hedging. FOREX.com is a subsidiary of StoneX Group Inc., a NASDAQ-listed business with a strong balance sheet and an experienced management group serving clients in over 100 countries worldwide. Clients may also be qualified for the Financial Services Compensation Scheme if the firm becomes insolvent or ceases operations.

Leverage

Forex.com offers different spread ranges for all accounts. Leverage is the capacity to manage a prominent position with only a tiny amount of money. A ratio typically represents it. For example, if your account has a leverage of 200:1, you can trade a $50,000 position with only $250. Please keep in mind that increased leverage raises the risk. Forex has different leverage ranges in different countries according to local laws.

Accounts

There are three types of accounts that forex.com which customers can choose based on their priorities. Here are the details of every account.

Standard Account
FOREX.com’s Standard account is the only available option to MetaTrader customers. But there are other preferred ones, according to our forex.com review. For example, according to FOREX.com’s typical spread data, average spreads on the EUR and USD are 1.1 pips. In the US, the spread is also 1.3 pips as of August 2021. So brokers who are ready to pay a premium in the form of a more extensive spread for the advantages of market-maker execution will be drawn to the Standard account.

DMA Account
The DMA account is accessible worldwide and is linked to FOREX.com’s proprietary Advanced Trading platform suite. FOREX.com also provides agency execution and the maximum potential discounts. The effective all-in cost is similar to what you will see in commission-based accounts. For example, the effective spread is 1.1 pips if consumers trade more than $100 million monthly through this account. However, if any customer reaches 2 billion in monthly trades, then he will take a remarkable spread of 0.7, similar to the offerings made by Tickmill and IC Markets. During August 2020, typical spreads for this DMA for the EUR and USD pair were 0.03 pips, which became equal to 1.5 after adding the commission equivalent of 1.2 pips in the base tier.

Commission Account
The commission account is usable to the U.S people, where it is known as STP pro. It is only available when the consumer can deposit $10,000 first and admit to the $25 million monthly trade volume. It has similar features as we saw in standard accounts for less than $50 million trades. Its overall pip is 1.8, where 0.8 is spread level, and the other 1.0 is turn around the commission. The commission account also offers a $2 discount, which makes the overall pip 1.6.
Pip in Commission account = 1.0+0.8 = 1.8 – 0.2(discount) = 1.6

How do I open an FOREX.COM account?

Forex.com allows consumers to make a demo account first to have access to the tools necessary to learn before entering the major trading markets. Then, to make a standard, commission, or DMA account, you can apply online at the forex.com website. Here are some of the things that you need to make an account.
• Identity Card/Valid Passport/Valid Driving License/Other Government Issued ID with your clear photo
• Email and Phone Number
• For address information, you must provide a utility bill, government-issued residency certificate, and driving license with the address mentioned on it. All documents must not be more than six months old
• Bank statement
• Marriage and Insurance related documents are not accepted
• Trading experience certificate if you have
• Funds for your account
Follow these guidelines mentioned above to complete your account-making process.

Fees

The benchmark fees of $20,000 for a 30:1 long position have different payment ranges between $3.6 and $7.1. For S&P 500 Index CFD fees, the CFD fees on a $2,000 Long Position held one week is $1.2, which is the lowest. The highest is the Vodafone CFD fee which is $29.7. The stock CFD fee on US stocks is $0.018 per share, and on UK stocks, it is 0.08% of trade value. The minimum CFD fee on stocks is $10. The rollover rates for forex.com are between 1.0 to 2.6 percent. There is no account fee for forex.com accounts. Customers must pay an inactivity fee. Credit and Debit card withdrawal fees are zero. Any consumer who wants to withdraw from a domestic bank has to pay $25 as a fee. On the other hand, forex.com charges $40 for international transfers.

Spreads

The difference between selling and buying prices is known as the spread. Forex.com offers a 1.0 spread on EUR and USD. The commission account’s spread is as low as 0.2, and a low variable spread adds %$ per $100k. The spread on the STP pro account is 0.1, which is eligible for an $80 per million commissions. Here is a table for the standard spread without any commission.

For accurate and updated information please check the official FOREX.COM website.

Deposits and Withdrawals

To draw funds from forex.com, you must log in to your account and draw funds from there. An almost similar option is available for the depositing method. There are many options available for withdrawal. Customers can withdraw and deposit money using these options. Credit/debit cards, Bank wires, Digital wallets e.g. Skrill, Neteller, Webmoney, Sofort, GiroPay, PayPal, China UnionPay.

Deposit options

It is easy to make an account on forex.com.
• Open the Forex.com website or the Forex application
• Click on the withdrawal funds option
• Funds must be withdrawn to the originating depositing account
• Excess accounts must be withdrawn from the bank or wire transfer
Visit the website and make your account.

FOREX.COM minimum deposit

FOREX.COM minimum deposit requirement is $/€/£ 100 for Account Standard and only 10$ for a Micro Account. Deposit fees are typically covered by FOREX.COM which is a bonus.

Withdrawal

FOREX.COM withdrawal options is widely available including bank transfers, e-wallets and cards. The withdrawal fee varies from one to another. As an example, Credit Cards withdrawal features 3$ fee, while Bank Transfer will cost 30$, and WebMoney will charge 2% above the requested amount. However, these withdrawal fees are still considered to be low compared to industry standards. other withdrawal methods may offer 0% commission.

How do I withdraw money from FOREX.COM?

Once you decide to withdraw money from you account you obviously should submit an online request and follow with the required procedure. To make it short you simply should follow the following steps

  1. Login to your account in MyFOREX.COM and go to Withdraw page through My Money
  2. Select the withdrawal method, required amount and click ‘Withdraw’
  3. Complete the withdrawal request along with PIN that will be sent to your email or phone via SMS
  4. Confirm withdrawal and Submit

How long does it take to withdraw from FOREX.COM?

The FOREX.COM withdrawal process generally takes two business days to be processed by the FOREX.COM accounting department within 2 business days.

Always consult with customer service to confirm, as various geographic locations may apply slightly different terms. Also, allow time for your payment provider to process the transaction.

Bonus

FOREX.COM does offer a Bonus throughout the year available in different geographic locations so watch out to avail of benefit from offers.

Does FOREX.COM have Bonus?

Yes FOREX.COM offers Bonus programs. However, the Bonus program is strictly available only for the international brand of FOREX.COM and those clients that are trading or holding an account with Exinity Limited, registered under the laws of Mauritius.

How do I claim my FOREX.COM bonus?

So if you open an account with the international entity of FOREX.COM you may claim your bonus if FOREX.COM are running an offer at that particular time.

At the moment for example there is a promotion of 30% bonus available in certain geographic locations, you may claim the Welcome Bonus of 30%, while you should register for an account then select the bonus promotion, deposit funds and start trading. Also note, every bonus program applies specified terms and conditions on how it should be used or accessed.

Market instruments

Forex.com is a worldwide recognized broker for trading. It offers 250+ financial instruments, Bonds, Currency, over 50 currency pairs, CFDs on Cryptocurrencies, Spot metal, Shares, Commodities, and Indices. Its diverse range of products and numerous account features makes it a standout among the other brokers.

FOREX.COM Markets compared to similar Brokers

It is also good to compare FOREX.COM to other industry offerings, so in the table below you may see available assets and instruments.

FOREX.COM Trading Platforms

It offers various trading platforms for its customers. MT5, MT4, Proprietary platform, and forex.com are available. Mobile and Desktop browsers are also used for trading in forex.com.

Web Trading Platform

The Forex.com platform is based on MT4 or MT5 software. Both versions are available as WebTrading platforms. There is also an app that can be installed across any mobile device. For example, suppose you are a newbie or a consistent lot seller. In that case, web trading software is an excellent option because the platform is easily reachable from the web page and does not require any installation, making it safe and straightforward to use.

Desktop Trading Platform

If consumers require more tools as well as powerful customization, the Desktop version is recommended. MetaTrader supports all types of devices, including PCs and Macs, through third-party apps. In addition, risk management tools, trading indicators, pivot points strategy, and trading signals are available via the desktop MT4 and MT5 software, along with calculators intended to bridge the gap between experienced and new brokers.

Mobile Trading Platform

All Android and tablet users have access to the forex app. The app is user-friendly, and its interface is simple. As a result, it is accessible to everyone, and even a not-so-experienced mobile user can efficiently run the app.

Customer Support

The call and chat volumes on Forex.com are currently higher than usual. Please visit Support Updates for answers to the most frequently asked questions during this time of high uncertainty for faster help and support. Customer support is available 24/7 for esteemed consumers. Forex customer support provides every possible guide and problem solution to its customers in 24 to 48 hours.

Education

FOREX.com has nearly 100 written articles organized by experience level, with material for newbie, medium, and advanced users. Overall, these articles were of excellent quality and very well written. It is one of the best services available regarding education and research at broker markets. Despite having dozens of platform tutorials on its YouTube channel, FOREX.com has a limited collection of instructional content. Videos are where competing companies like CMC Markets clearly outperform FOREX.com.

Conclusion

Forex.com is one of the most valuable and security risk-free trading brokers, which is easy to use. Customers will have thousands of incentive and bonus opportunities throughout their experience with forex.com. It has almost all the possible payment methods for a customer to withdraw or deposit money. You can experience mobile, web, and browser trading according to your wish. It has various ranges of spreads starting from 0.1 and a not-so-high deposit amount of $100. The risk-free management and excellent customer support make it a more significant marketing entity for trading.

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