FOREXBROKERSREVIEWS.CO.UKForex.com Review
Overview
Company Information Forex.com is unquestionably one of the heralds in the competitive Forex niche. When investors select Forex.com as their broker, they count on a financial leader, having more than… more
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| Broker | Forex.com |
|---|---|
| Website URL | http://www.forex.com/ |
| Founded | 2000 |
| Headquarters | London, United Kingdom |
| Support Number | +44 (0) 20 7429 7900 |
| Support Email | ukinfo@forex.com |
| Support Types | Phone, Live Chat, E-mail |
| Languages | English, Cantonese, Arabic |
| Minimum Trade Amount | 0.01 lots |
| Free Demo Account |  |
| Regulated | |
| Regulation | Financial Conduct Authority (FCA) |
| Account Types | Premium, Forex Trader PRO |
| Deposit Methods | VISA, Maestro, MasterCard, JCB, Sofortbanking, Wire Transfer |
| Withdrawal Methods | VISA, Maestro, MasterCard, JCB, Sofortbanking, Wire Transfer |
| Types of Assets | Forex, Commodities, Metals, Index CFDs |
| Account Currency | EUR, USD, CHF, AUD, NZD, CAD, JPY |
| ECN Broker | |
| Scalping Allowed |  |
| Managed | |
| Lowspread | |
| Forex Demo Contests | |
| Forex Live Contests | |
| US Traders Allowed | |
Full Review
Company Information
Forex.com is unquestionably one of the heralds in the competitive Forex niche. When investors select Forex.com as their broker, they count on a financial leader, having more than 15 years of experience in its wallet – bringing together retail traders with Forex markets. Over this period, the enterprise has served more than 200,000 individual traders on a global scale. Forex.com is truly devoted to delivering on a consistent basis reliable trades, innovative tools for trading, and one of the tightest spreads on the market. The company is stringently controlled and authorised by the Financial Conduct Authority (FCA).
Forex.com is also an FX brand of GAIN Capital Holdings, which was incepted in 1999 and whose mission is to offer avid traders the opportunity to have a low-cost access to Forex markets. GAIN Capital, listed on The New York Stock Exchange, is conservatively managed but well-capitalized. The company provides institutions and retail traders not only with superb liquidity but also with technology and service to be able to trade exchange-traded markets and OTC. GAIN Capital finds its headquarters in New Jersey’s Bedminster, while its worldwide presence is more than 800 employees in Asia Pacific, Europe, and North America. Best U.S. Forex Broker, Best Arabic FX Platform, and Best Online FX Provider are some of the numerous awards of Forex.com.
Trading Information
Forex.com provides its avid users with a choice of three accounts – Individual, Joint, and Corporate trading accounts. The initial deposit for all three accounts and all spreads is the same and is set to $250. However, there is an additional Premium account which requires $10,000 and might come with a much lower spread than the others. It must be kept in mind that in order to derive benefit from its benefits, customers are requested to seal the deal of 15 Qualifying Trades monthly.
The minimum margin requirement for the majority of pairs at Forex.com is 0.25% (400:1), which can be altered to 1% (100:1). The minimum margin requirement for metals, soft commodities, indices, and energies is habitually 1% (100:1) and this can be altered to 2% (50:1) or 0.5% (200:1)
The Forex corporation steadily executes 99.8% of all its trades in less than 1 second, rounding up to an average execution speed of around 70 milliseconds. Every feature at Forex.com is automated which guarantees supersonic trade executions. The Forex enterprise meticulously monitors its spreads in every product that is tradable in an effort to secure unswervingly low spreads.
Forex.com Trading Platforms
It’s no surprise that Forex.com utilises the proven MT4 platform. Besides, exclusively for Forex.com, the platform has some cool integrated tools and trading options, including integrated ideas for trading and technical research, gratuitous EA hosting (for qualifying customers) and optimised environment for EA, no auto sync nor any third party bridges, as well as trading with micro lots and full hedging abilities. Of course, Forex.com’s MT4 allows for Android and iPhone mobile trading. The only prerequisite is a steady internet connection.
Additionally, investors can engage in trading deriving benefit from the FOREXTrader Pro platform which is optimised to address the requirements of currency traders. The creative platform revolves around widespread research and avant-garde trading tools, trade alerts and customisable watchlists. The platform is highly and fully flexible and can be downloaded for both web and mobile devices, comprising iPad, iPhone, and any Android apps. At ForexTrader Pro, users can engage in trading CFDs, commodities, metals, and currencies. The trading tools have a professional grade and comprise of custom-constructed Strategy Centre, sophisticated charting, and software which uses pattern recognition, such as eSignal or Autochartist.
Security and Customer Services
Forex.com is a fully licenced and sternly regulated (by the FCA) trading broker. The company, as mentioned, is a subsidiary of GAIN Capital Holdings, Inc. (at the NYSE:GCAP) which is a worldwide provider of trading services on the web. GAIN in its capacity of a world company which is publicly traded is obliged to meet the uppermost standards of disclosure, financial reporting, and corporate governance. Adding up to Forex.com’s image of a very trustworthy brokerage is its financial transparency which further contributed to the confidence of its investors, knowing that the company is capitalised and well managed, as well as it has the pecuniary means to innovate and invest in its future.
Forex.com’s website is accessible in English, Arabic, and Chinese. The company offers many options for customer support, among which phone and e-mail assistance, as well as a live chat. We communicated with a representative via the live chat function who proved knowledgeable but needed considerable time to respond which was a bit upsetting. The Forex Corporation has an extremely elaborate education section which teems with online guides and helpful courses, webinars, and video tutorials.
Deposits and Withdrawals of Forex.com
By paying the “Funding” page a visit, investors will be able to place cash in their accounts. Forex.com accounts can be credited via using 3 simple ways, including Credit/Debit card (no limits on the card you choose), Sofortbanking (quick and safe funding online accessible in Germany, the Netherlands, the U.K., and Switzerland), and Wire Transfers.
Wire funding of all currencies and withdrawals in GBP do not go with a fee. However, wire withdrawing to bank accounts that are based in other currencies, such as USD, NZD, AUD, and CHF come with a €15 fee. Withdrawal requests at Forex.com typically necessitate 2 working days since receipt.
The company will not and does not accept any funding or withdrawals from third parties. All Forex.com trading account names should be exact matches with the names of the financial institution in question.
Deposit Bonus and Loyalty Programmes
The Premium account of Forex.com is crafted to respect the necessities of active investors. With it, it’s possible to lower one’s trading costs while at the same time receiving personal support for the account and having an access to exclusive, elite array of services and products, including a dedicated trading specialist and up to 2% interest on one’s account balance (up to $50,000).
If a customer launches an account fuelled with $/£/€10,000 or more, he or she will be automatically signed up for the premium account program. The trader solely necessitates bringing to an end 15 Qualifying Trades on a monthly basis. Besides, there are more exclusive benefits such as special promotions from the Forex.com team as well as invitations to events only reserved for premium members.
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