Forex.com review and test – how good is the forex broker?

REVIEW:REGULATION:ASSET:MIN. DEPOSIT:MIN. SPREAD:
5 out of 5 stars (5 / 5)6 Regulators4 classes and 300+ Markets$50Variable 0.8 pips
Forex.com Logo

broker that values the trust of its clients is a reliable Forex BrokerForex.com claims to be a global broker that values the transparency and trust of its traders. How will we determine or know if the broker is reliable? We might also ask ourselves, is this broker worth the shot? In this review, we will discuss the Forex.com broker. Together, we will find out if this broker is worth the shot of our trust.

Forex.com Official Website
Forex.com Official Website

What is Forex.com? – Company presented

Forex.com is founded in 2001 and offers its clients over 300 markets that include FX, indices, shares, and cryptocurrencies. It is a global broker that offers the lowest trading cost and is one of the world’s largest MetaTrader brokers. The company is regulated in many countries. Forex.com offers its clients trading platforms that are robust for both new and professional traders. The parent company of Forex.com is GAIN Capital Holdings, which trades on the NYSE under the ticker GCAP. This broker provides an average spread for all types of accounts.

Facts about Forex.com:

  • Founded in 2001
  • Markets over 300 including FX, indices, shares, and cryptocurrencies
  • World’s largest MetaTrader broker
  • Global Forex Broker
  • Part of the stock exchange listed company GAIN Capital

The best brokers for traders in our comparisons – get professional trading conditions with a regulated broker:

Broker:Review:Advantages:Free account:
1. Capital.com
5 out of 5 stars (5 / 5)
➔ Read the review
# Spreads from 0.0 pips
# No commissions
# Best platform for beginners
# No hidden fees
# More than 3,500+ markets
Live account from $ 20:

(Risk warning: 79% of retail CFD accounts lose money)

Review of trading conditions for traders

Forex.com claims to deliver an exceptional trading experience to its traders with superior execution and low consistent costs. Trust and loyalty is very important to this broker and value each one of its clients. The company also offers a transparent trading experience. It is a global market that leads and connects traders to the currency markets since it began in 2001. Forex.com has over 300 markets, which include Forex, indices, shares, and cryptocurrencies.

The most traded assets and spreads: 

ASSET:VARIABLE SPREAD FROM:
AUD/USD:0.8 pips
EUR/USD:0.8 pips
USD/JPY0.8 pips
XAU/USD (GOLD):35 points
US SP 500:0.8 points
US crude oil:0.04 points

Also, for security, this broker offers protection of its client’s funds. The funds/money of the customer is held in segregated client bank accounts in accordance with FCA’s clients’ money rules. It is held with top-tier banks and offers trust letters to ensure that the money/funds of its clients remain segregated from the assets of the bank. Forex.com never engages in proprietary trading. This broker offers fast trades and consistent execution.

Forex.com Trading Conditions for Traders
Forex.com Trading Conditions for Traders

New customers can start with a free demo account. For trading with real money you only have to deposit $50. Also, we have to mention that leveraged products are offered and the lever is depending on the market/asset you trade. For getting more accurate information about each market you can find it on the Forex.com homepage.

Facts about the conditions for traders:

  • Markets over 300 including FX, indices, shares, and cryptocurrencies
  • Offers low cost for crypto trading
  • Competitive MT4 Platform
  • The minimum deposit is $50
  • Offers free demo account
  • Transparent trading fees
  • The required margin is depending on the traded asset
  • Offers fast trades and consistent execution

Trade from 0.0 pips over 3,500 markets without commissions and professional platforms:

(Risk warning: 79% of retail CFD accounts lose money)

Test of the Forex.com trading platforms

The platform is one of the important factors traders look into selecting a Forex Broker. Forex.com has developed its own MetaTrader 4 and WebTrader Platform to better serve its clients. MT4 is the most popular platform used by traders both beginners and professionals. It has integrated tools and dedicated support that is available and exclusive for Forex.com traders. Also, it has MetaTrader 4 Expert Advisors (EA) that tailors to the specification of the trader, providing traders a high degree of oversight, flexibility, and control.

Forex.com offers the following platforms:

  • Forex.com MetaTrader 4
  • Forex.com Advanced Trading Platform
  • Forex.com WebTrader Platform

Forex.com advanced trading platform

Derived from the name itself Forex.com MetaTrader 4 ‘Advanced’ Trading Platform, this platform is designed for serious traders who demand sophistication in trading features and analytical tools joined in one package. This Platform features highly customizable dashboards and trade preferences. It has powerful charting tools, more than 80 technical indicators, and extensive drawing tools. Its advanced analytical tools include integrated trading strategies with 100s predefined templates to choose from.

Forex.com advanced Trading Platform
Forex.com Advanced Trading Platform

Advantages of the Advanced Trading Platform: 

  • Professional analytic tools
  • Hedging allowed
  • Flexible indicators
  • Integrated trading strategies
  • Advanced order types
  • Trade signals

Forex.com web-trading platform

Forex.com Web Trading Platform is an optimized platform that delivers high performance, reliability, and speed across all browsers. It has integrated trading tools, market commentary, and analysis. It also highlights its features of seamless account management, funding, and withdrawals. This platform has advanced charting features, more than 70 technical indicators, and more than 50 drawing tools. Plus, it is customizable.

Screenshot of the Forex.com WebTrader Platform
Screenshot of the Forex.com WebTrader Platform

Mobile Trading (App) is possible with Forex.com

The power to be able to trade anytime and wherever the trader wants is being offered by Forex.com. The MetaTrader 4 Mobile Trading Platform or Forex.com App gives the ability to its clients to trade in the palm of their hands whenever connected to the internet. This platform has full trading capabilities with multiple order types.

It has advanced TradingView charting that can quickly place trades and is able to let traders see open positions plotted on live charts. It has advanced analysis tools, features real-time trade and order alerts, with integrated fund management. It has easy access reports in order for you to track and monitor your account without a struggle. Also, it is customizable. The mobile app is available to download on GooglePlay for Android and in AppStore for iOS.

Forex.com Mobile Trading
Forex.com Mobile Trading

All platforms have the features:

  • Read market news
  • Customizable
  • Allows you to use all order types
  • Free demo account
  • Search and select tools
  • Advanced trading tools
  • Customer support
  • Integrated fund management
  • Mobile-friendly and user-friendly
  • Features real-time trade

Trade from 0.0 pips over 3,500 markets without commissions and professional platforms:

(Risk warning: 79% of retail CFD accounts lose money)

Professional Charting and Analysis is possible

Charting and Technical Analysis are both important in getting successful trades. Charting enables you to easily understand the movements of the market and as well as a graphical representation to keep you on track with historical prices. The most common chart types are bar charts and candlestick charts. Although these charts look different, they provide similar information.

Candlestick charts show the different colors of candles. The typical red ones are the bearish candles. This means that the opening price was greater than the closing price for a specific time range/interval. On the other side, the typical green ones are bullish candles, which means the opening price was lower than the closing price for a specific time range/interval.

Candlesticks example: 

Candlestick Charting with Forex.com
Candlestick Charting with Forex.com

Forex.com offers the right tools for any technical analysis strategy. You can use more than 70 different indicators that are fully customizable. Also, technical drawing tools are offered for any type of analysis. As mentioned before, Forex.com supports the charts of Tradingview.com and MetaTrader 4. These are the most popular platforms for doing analysis.

Advantages of charting with Forex.com: 

  • Customizable indicators
  • Technical drawing tools
  • A lot of different chart types
  • Fully customizable charting
  • Support Tradingview.com and MetaTrader charting
  • Perfect for any type of analysis

Charting together with the right application of Technical Analysis, you will be able to have better trades. Technical analysis includes mapping of the trend and price patterns through technical indicators. Forex.com has advanced technical indicators in its MetaTrader 4 platform, giving its clients an edge in trading.

Forex.com example of range and trend in technical analysis
Forex.com example of range and trend in technical analysis

Trade from 0.0 pips over 3,500 markets without commissions and professional platforms:

(Risk warning: 79% of retail CFD accounts lose money)

Forex.com trading tutorial: How to trade

As a trader, you need to decide which market you want to analyze and trade on. For better trading results, one must know the movement of the markets. Whether it is going upwards, or downwards. With this said, once you know the movement of the market, it would be easier for you to decide whether to buy or sell. For instance, if you think that the market value will fall, then go and choose to sell. However, if you think that the price will increase in value, choose to buy.

Trade currencies with Forex.com
Trade currencies with Forex.com

The first move when executing a trade is that you need to choose an asset you would like to analyze. Then analyze the asset and decide a forecast of the price movement. Afterward, open the order mask. The next step is to customize your position. Once you have already done this, go ahead and select the order volume. Lastly, you can decide whether you buy or sell the asset you want.

Step by step tutorial:

  1. Choose an asset you would like to analyze
  2. Analyze the asset and decide on a forecast of the price movement
  3. Open the order mask
  4. Customize your position
  5. Select the order volume
  6. Buy or sell the asset you want

Free Forex.com demo account

Forex.com offers a Free Demo Account. This account is 100% risk-free. It is for 30 days and has virtual funds. We highly recommend for you to get a demo account first and practice your trading skills, in order to avoid unintentional trades. Trading requires a high risk of your funds/money. Also, be aware that Forex Trading and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. This provider has 69% of retail investor accounts that lost money in trading CFDs. You should consider whether you understand how CFDs work. Also, bear in mind the thought of whether you can afford to take the high risk of losing your money.

How to open your account

You can open an account with Forex.com so easily and in as little as 5 minutes. First, you just have to fill in information about yourself. Fill up the form with your information and your trading experience. Then, you can go and fund your account right away. You can make a deposit via debit card, wire transfer, and eCheck or check. After funding your account, you can already start trading. Once the account has been approved, you can trade in the platform you want to use: desktop, web, and mobile.

Account opening form of Forex.com
Account opening form of Forex.com

The best brokers for traders in our comparisons – get professional trading conditions with a regulated broker:

Broker:Review:Advantages:Free account:
1. Capital.com
5 out of 5 stars (5 / 5)
➔ Read the review
# Spreads from 0.0 pips
# No commissions
# Best platform for beginners
# No hidden fees
# More than 3,500+ markets
Live account from $ 20:

(Risk warning: 79% of retail CFD accounts lose money)

Support and service of Forex.com

Customer support and assistance are very important in choosing a broker. In order to have the full trust of a customer, one must give good customer service and support. The company must show its reliability through its customer support and services. The call support of Forex.com operates 24 hours a day from 10 am Sunday to 5 pm Friday. You can also chat or email Forex.com’s support.

All you need to do is to give in your name, email address, fill in your query, and submit. An agent will get back to you with your concern. Currently, Forex.com gave an update on their customer support page, encouraging customers to visit their Service Updates for faster assistance. The support of Forex.com is professional and is very helpful.

Forex.com support on the trading platform
Forex.com support on the trading platform

Also, Forex.com offers free educational materials to its traders and useful information for beginners with trading. You can see this on the official website of Forex.com in the support section under education. This is very helpful to any type of trader. It offers different kinds of educational themes, including creating a plan and analyzing strategies. We can say that the support and service of Forex.com are good and reliable.

Forex.com offers its clients free educational materials
Forex.com offers its clients free educational materials

Facts about the support:

  • Customer Support 24 hours from 10 am Sunday to 5 pm Friday
  • Phone Support
  • Chat Support
  • Email Support
  • Free educational materials
  • Reliable and good
  • Multi-languages

Trade from 0.0 pips over 3,500 markets without commissions and professional platforms:

(Risk warning: 79% of retail CFD accounts lose money)

Conclusion of the review: Is Forex.com legit? – We think: Yes

Forex.com has proven its stability and strength with its records. Clients who choose to trade with this broker feel secure due to the fact of having the knowledge of how the company operates, with the capital resources that allow traders to innovate and lead the industry forward. This broker values the trust of its clients and is giving its best to serve its clients with fairness and with excellence. It offers its clients over 300 markets that include FX, indices, shares, and cryptocurrencies. Forex.com is a global broker that offers the lowest trading cost and is one of the world’s largest MetaTrader brokers.

It offers trading platforms that are robust for both new and professional traders. This broker provides an average spread for all types of accounts. Also, the company is regulated in many countries.

We recommend Forex.com as a reliable and legit broker. The company is loyal to its clients and offers a transparent trading experience. It is regulated and has been operating to its excellence since 2001. This broker is worth the trust.

Advantages:

  • Global and regulated Broker
  • Offers fast and consistent execution (DMA and professional accounts)
  • Free demo accounts
  • Minimum deposit of $50
  • Competitive MetaTrader 4 and Web Platforms
  • Markets over 300 including FX, indices, shares, and cryptocurrencies
  • Offers the lowest trading cost
  • Offers average spread for all of the types of accounts
  • Reliable and good customer support
  • Commits transparent trading experience to its traders
  • Offers protection of customer funds
  • Accepts US clients

Forex.com Review


Overview of the broker Forex.com

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Platform
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Summary


„Forex.com“ is an amazing trading platform with good conditions for any type of trader.

5

Forex.com shows us very high expert knowledge in Forex Trading. The broker offers very good conditions for any type of trader. 5 out of 5 stars (5 / 5)

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Experienced Traders since 2013

Trade from 0.0 pips over 3,500 markets without commissions and professional platforms:

(Risk warning: 79% of retail CFD accounts lose money)

FAQ – The most asked questions about Forex.com : 

How secure is Forex.com?

Forex.com is regarded as being secure. Since it has a solid track record, is overseen by reputable financial regulators, and its parent business is publicly traded.

How do you withdraw money from Forex.com?

First, you need to Sign-in into the forex.com trading platform, select the option “Add Funds,” and then click on “Withdraw Funds” to withdraw your money. Money must be taken out of the original deposit source. You can withdraw any extra money through a wire transfer or bank transfer.

What is the Forex.com minimum deposit amount?

$100 for each deal; if financing is done using a bank transfer or debit card, the minimum deposit is $100 per transaction. To provide you with greater freedom and improved risk management while trading your account, it is advising a minimum of $2,500. If you are financing via bank transfer or debit card, you can only deposit a total of $10,000 in a single transaction.

What is the best Forex.com account?

According to some surveys, the top forex broker is IG, which offers multiple different currency pairs in addition to the opportunity to trade CFDs and forex options. FOREX.com is a comprehensive broker that does well in almost all areas.

See other articles about online brokers:

Last Updated on January 27, 2023 by Arkady Müller