- 80 currency pairs
- customer support 24/5
- educational resources
- Does not provide negative balance protection
- minimum deposit of $50
- Additional fees
- FOREX.COM Review
- Can we trust Forex.com
- The offering of investments
- Commissions and fees
- Standard account
- DMA account
- Commission account (U.S. only)
- Mobile trading apps
- Apps Overview
- Ease of use
- Other trading platforms
- Web trading
- Market research
- Research Overview
- Market news and analysis
- Video content
- Learning Centre
Global traders of forex and CFDs know they can rely on FOREX.com to provide a top-notch trading experience. High-quality proprietary online and desktop solutions are also available to traders in addition to MT4 and MT5. It was founded in 2011. Forex traders of all skill levels will appreciate FOREX.com’s multi-asset offering, even though it is not a concession broker until you trade in more significant amounts.
Can we trust Forex.com
With a perfect Trust Score of 100, FOREX.com enjoys an exceptional customer reputation.
The offering of investments
Where you are located and which of FOREX.com’s regulated organisations manages your account will determine which products and services are available. CFDs, for instance, are unavailable in the United States due to regulatory concerns. Nevertheless, FOREX.com provides an excellent range of over 4,500 CFDs to traders located in other countries. Moreover, FOREX.com customers in Japan, Singapore, and Australia may also use knock-out options.
You can trade CFDs on cryptocurrencies at FOREX.com but can’t trade the underlying cryptocurrency itself. Note: Neither retail traders nor citizens of the United Kingdom have access to cryptocurrency CFDs through any broker with a presence in the United Kingdom.
Commissions and fees
Several execution methods, three different account types, and comprehensive execution data are all offered by FOREX.com. And the results of our analysis indicate that FOREX.com’s prices are somewhat more than the norm for the industry.
For those using MetaTrader, FOREX.com only offers a Basic account, which isn’t the best option, though. According to the usual spread data from FOREX.com, EUR/USD averages a high 1.1 pips (1.3 in the U.S.) Traders who value market-maker execution but are ready to pay more (via a wider spread) might consider opening a Standard account.
The DMA account is linked to FOREX.com’s proprietary Advanced Trading platform suite and may be opened by customers anywhere in the world. As a bonus, FOREX.com provides agency execution and the most significant possible savings. For example, in August 2020, this account’s EUR/USD spreads were 0.03 pips, which became 1.5 pips after adding the base tier’s round-turn commission equivalent of 1.2 pips.
Commission account (U.S. only)
FOREX.com’s proprietary trading platforms (not MetaTrader) demand a $10,000 deposit and $25 million monthly volume for the Commission account. Rebates start at $2.0 million and increase to $9.0 million throughout the five-volume tiers. The lowest tier’s $10 per Standard lot ($5 per side) basic fee adds around one pip to the EUR/usual USD’s 0.8 pips spread. It is based on August 2020 spread data. The effective spread is 1.6 pips, which comprises the average spread of 0.8 pips and the 1.0 pip round-turn commission equivalent minus the $2 discount.
In the United States, the Commission account is almost identical in price to the Standard account until you trade more than $50 million per month. After that, the execution method and supported platforms are the only distinguishing features.
Mobile trading apps
In general, the mobile product that FOREX.com provides is on par with those of the most reputable brokers.
FOREX.com provides its mobile application in addition to the whole suite of MetaTrader mobile applications. These applications include MetaTrader 4 (MT4) and MetaTrader 5. (MT5).
Ease of use
FOREX.com’s mobile app makes trading and managing positions simple and streamlined owing to its intuitive interface and uncluttered layout. Features such as an economic calendar, a Trading Central module suite, alerts, market updates, and Reuters news headlines are included prominently. In addition, traders may swiftly cancel out many positions in a single instrument with the “close all” button and other advanced order types the software provides.
The FOREX.com mobile app has simple-to-read charts provided by TradingView and automated syncing of user-created watchlists. In addition, it is equipped with a wide variety of indicators and graphing tools, totalling over 80.
MetaTrader 4 and MetaTrader 5 are no longer available in the Apple App Store as of September 2022. If a trader on iOS has the MetaTrader app installed, they risk losing access if they uninstall it (s).
MT4 and MT5 are still accessible through the Google Play store, so Android users need not worry now.
Other trading platforms
If you’re a forex trader, you’ll find that FOREX.com has everything you could need to make successful trades. The FOREX.com platform package has always been reliable, and that trend continues today.
Advanced Trading, FOREX.com’s premium desktop product, has a powerful charting package with over 200 technical indicators for experienced traders. Around a hundred different predetermined automatic tactics, along with a set of sketching tools, are included. TradingView-powered charts on the FOREX.com online platform make charting easier than on the desktop version.
FOREX.com’s Online Trading platform simplifies market research, trade execution, and navigation for infrequent traders. The charts are generated by TradingView and are pre-loaded with approximately one hundred different indicators, fourteen different timeframes, and ten different chart styles.
FOREX.com does a great job of centralising its research within the Advanced Trading platform and keeping it organised for easy accessibility. However, the absence of broad video content is one drawback of FOREX.com’s research offering.
Online Trading offers many news outlets, Trading Central’s automated pattern-recognition modules, and FOREX.com’s worldwide research team’s blog. Reuters provide the latest news, and an economic calendar produced by Trade Central is included on the site and all of its platforms.
Market news and analysis
FOREX.com consistently cranks out high-quality articles on various market and industry topics. Weekly “Week Ahead” posts, daily FOREX.com analyst articles, and third-party resources are included. In addition, trading Central’s Market Buzz, Technical Insight, and Analyst Perspectives modules use its research tools.
Curiously, FOREX.com doesn’t have much in the way of video-based market research. FOREX.com might expand its audience by experimenting with video, perhaps by re-creating some textual material in video format.
FOREX.com has almost 100 written articles classified by experience level for beginners, intermediate, and experienced users.
Although FOREX.com’s YouTube channel features hundreds of platform training, the website’s library of instructional films is woefully inadequate. As a result, video is where FOREX.com’s competitors, like CMC Markets, get a significant advantage over the company.