Forex.com Review – A Reliable Broker!
If you are in need of a new and reliable broker for FX, indices, stocks, CFD, and more, Forex.com is a world leading broker. Now, account prices are a little high, but other than that, this is one of the most reputable and reliable Forex brokers out there right now. In our opinion, it might just be the very best.
Forex.com Company Information
One thing that is very important to mention about Forex.com is that it is a very reputable and highly trusted broker. For one, it has been around since 1999 and has nearly 2 decades of experience providing signals to retail traders. Simply put, you don’t stick around for 20 years as a broker if you are not the real deal. The fact that these guys have been around for nearly 2 decades is a very good sign.
Forex.com is actually owned by GAIN Capital Inc. which is listed on the NYSE and is worth nearly 1.5 Billion USD in total. The main office is located in the UK, at Park House, 16 Finsbury Circus, London. What is impressive is that Forex.com is so highly regulated, spread around the world, and registered with so many regulatory authorities. This broker is registered and licensed by ASIC, FSA, CFTF, IIROC, NFA, SEC, the SFC, and a few others too.
Forex.com Trading Platforms
What is definitely a big deal about Forex.com is that it is compatible with multiple trading platforms out there.
First off, if you are big time and high capital trading pro, you can use the GAIN Capital GTX ECN platform. This trading platform is ideal for professionals who trade in high volumes and have really big clients. Deep liquidity, tight spreads, and transparent pricing for high trade volumes is what you get with the ECN platform.
Here you can also use the FOREXTrader Pro platform, which as you can probably tell by the name of it, is specifically designed for Forex trading. This platform is highly customizable, comes with many trading tools and analysis features, and is quite simple to use. Both beginner and professional traders should be able to use it with ease.
Of course, with Forex.com, you can also use MT4, or MetaTrader 4, which is often regarded as the best in the world, or at least as the industry standard. The MT4 platform is ideal for beginners, but can be used by professionals too. It comes with plenty of customizable features and trading tools too. With access to over 50 Forex markets and over 30 types of CFDs, you really cannot go wrong.
Forex.com has also created its own mobile trading application. This mobile trading app is just as functional as any platform for any computer. It can be used on Android or iOS and can be easily downloaded.
Forex.com Account Types
This broker does not come with too many account options, although this is not something that we mind greatly. For one, you can actually open up a free demo account, just to get a feel for things. This is something that we always greatly appreciate, as it is important to be able to test any product out before using it.
With that being said, there are two main account types you can choose from here. The standard Forex.com account requires a minimum deposit of 500 GBP, which is a little high in our opinion, but still doable. If you want access to the full range of trading instruments, investing 3,000 GBP is recommended. This account type is fairly decent for beginners. If you are a professional trader and want to trade at a higher volume, the premium package is what is recommended.
The premium Forex.com account has many benefits and increased functionality compared to the standard account. The premium account requires a minimum deposit of 25,000 GBP to open. Yes, the prices here for this broker are a bit steep, but it is a reputable, profitable, and highly versatile broker with tons of choice.
Forex.com Asset Options
In terms of asset options, Forex.com definitely has a whole lot to choose from. This is something that everybody can appreciate, because you don’t have to use multiple brokers to trade varying asset types. In fact, cryptocurrencies are about the only thing which this broker cannot trade.
Other than that, Forex, CFD, shares, stocks, indices, and commodities can all be traded here. There are literally hundreds of assets to choose from, which is a really big bonus no doubt. With Forex.com, you get access to over 300 global markets, with over 80 FX pairs, 220 stocks, and quite a bit more too.
Forex.com Fees & Commissions
Something that you can definitely appreciate about Forex.com is the fact that it does not charge commissions on trades. Yes, as we mentioned before, the accounts here are a bit pricey, so not charging commission is a big deal.
However, this broker does have to make money somehow, which it does by adding spreads on top of prices. Don’t worry though, because the spreads charged here do vary according to the assets being traded, plus the spreads are very competitive. Although the account pricing is a bit high here, the fact that there are no commissions and the spreads are fair is more than enough for us.
Another thing about Forex.com that needs to be mentioned is that it does have fairly good customer service. Keep in mind that support is available 24/5 here, so only on business days, not on the weekend. However, the customer support staff functions in a diverse array of languages.
You can get access to support via fax, email, live chat, or directly via telephone as well. The customer service agents here are extremely helpful. It’s one of the best customer service teams for an online brokerage that we personally have come across so far.
Forex.com Review – Conclusion
As you can see, with Forex.com, you absolutely get a whole lot of choice. With full regulation and licensing in many countries, with millions of clients, and tons of assets to choose from, Forex.com is one of the best brokers out there.
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