FOREX.com Review

In this Forex.com review, you will learn more about FOREX.com, its pros and cons, its history, its products, commissions and fees, and who FOREX.com suits.

Pros & Cons

Are you a trader looking for a home base for currency trading? FOREX.com is an ideal option for you. FOREX.com is one of the most popular online trading platforms for Forex and CFD traders worldwide.

FOREX.com accommodates traders with different experience levels since it offers various account types and a variety of markets. It provides free, educational forex trading courses to new and seasoned traders.

About FOREX.com

Established in 2001, FOREX.com is a forex trading broker that serves people who want to trade in CFD and Forex markets. In February 2020, StoneX Group Inc, a company listed on the NASDAQ Stock Exchange, acquired FOREX.com.

Financial authorities, such as the US Commodity Futures Trading Commission (CFTC) and Financial Conduct Authority (FCA) in the United Kingdom, regulate this trading platform.

FOREX.com provides a wide range of services from spread betting and CFDs to futures.  Besides forex, the platform offers indices, commodities, ETFs, bonds, individual stocks, cryptocurrencies, silver and gold, bringing together all types of traders. 

It features robust charts and risk-management tools that make the platform suitable for less-experienced traders. FOREX.com delivers secure and quality products and services throughout the world.

It supports clients in more than 180 nations and complies with all necessary regulatory requirements of each country in which it operates.

The company keeps money in segregated accounts for safety purposes and carries out secure online executions and transactions.  In E.U/U.K, clients have extra asset protection via the Financial Services Compensation Scheme (FSCS) of up to $85000.

The Canadian Investor Protection Fund helps protect Canadian clients in case of any financial issue. Unfortunately, the company has no additional insurance for safeguarding the US clients’ funds.

The platform accommodates occasional longer-term traders and active day trading experts. Users need to download the trading platform either on their desktops or smartphones and open an account of their choice.

Traders can access economic calendars, charts, positions, news, and trade history on the platform. You can also access research reports, trade signals, and other market analyses.

This FX platform is intuitive, and you can trade directly from charts by just clicking the “sell” and “buy” buttons on top of the chart. This will take you to an order window where you can set the entry, stop loss, and target profit.

FOREX.Com Products

FOREX.com offers a variety of products with competitive pricing and quality execution. Some of the popular products include:

• 4500+ popular stocks
• 80+ currency pairs
• Indices
• Commodities
• Cryptocurrencies
• Bonds
• Sectors
• ETFs
• Futures options –US (FuturesOnline)
• Gold & silver

Forex

FOREX.com allows you to buy one currency and sell another. The average turnover in a day is $5.1 trillion. You can trade for 24 hours a day, five days a week, while enjoying high volatility.

Stocks

The company lets you tap into stocks without stock-specific risks. At FOREX.com, you can buy and sell stocks of top companies like Tesla, Amazon, and Barclays with low commissions.

Users can get up to 1.8 cents commissions on US stocks.

Indices

FOREX.com exposes you to top financial markets where you are able to access stock portfolios from influential publicly traded companies.

Here you will get potential profits in rising and falling markets.

Commodities

This FX platform lets you trade energies, metals, and softs as CFDs without necessarily owning the underlying assets. You can trade in the UK Crude with fixed spreads, benefiting from zero commissions and 1% margins.

Cryptocurrencies

This trading broker allows you to get into popular cryptos without taking ownership. The main advantage of trading here is that you don’t need a virtual wallet and can access cryptos with less capital.

Products at FOREX.com vary depending on your country. For instance, in the United States, the products line only includes forex trading, futures, and un-leveraged gold & silver.

There are no CFDs in the US due to regulatory issues, but there are over 4500 CFDs for traders outside the US. You can find knock-out options in Australia, Singapore, and Japan.

FOREX.Com Commissions & Fees

FOREX.com provides three account types, various execution methods, and precise execution statistics. It makes money from bid-ask spread or dealing.

Standard Account

This account is commission-free, and it’s an ideal option for MetaTrader clients. Average spreads in this account are at 1.1 pips on the EUR/USD and 1.3 pips in the US.

The standard account serves traders willing to pay a premium for the market-maker execution’s benefits.

DMA Account

DMA account, also called STP Pro account, is available worldwide. The account provides agency execution together with prospective discounts at FOREX.com.

In August 2020, the typical spreads for DMA accounts for the EUR/USD were 0.3 pips. Once you add the round-turn commission of 1.2 pips in the base tier, this totals to 1.5 pips.

Commission Account

This account is not available for MetaTrader clients, and it is tied to the proprietary trading platforms of FOREX.com. You need to have a deposit of $10000 and execute trades worth at least $25 million every month.

A commission account is suitable for medium-to-high volume traders who want huge discounts derived from FOREX.com’s Active Trader Program.

For every 100k you trade, you pay a fee of $5, and you can get spreads as low as 0.2 pips in this account. The Active Trader program also reimburses traders for any expense incurred in wire transfers.

At this FX platform, margin requirements differ based on the currency pair you want to trade. For instance, the margin requirement for the USD/CAD position is 2%.

If you’re going to hold a $100000 position, you must have a deposit of $2000 in your account, which signifies a leverage ratio of 50:1.

Who Is Forex.com Best for?

According to our Forex.com review, FOREX.com suits high-volume traders determined to earn rebates that would decrease their trading expenses.

High-volume traders get up to 15% cash back whenever they trade $25M of volume in a month. They also get tailored support from the platform’s experienced market strategists.

This trading platform provides a vast range of financial instruments with commissions and spread costs, multiple user interfaces, and a variety of account types.

It also offers research and educational resources that directly enable beginners to apply what they have learned in the forex market.  The forex trading broker allows you to live chat with FOREX.com customer care and trade with or without commissions.

You can also join FOREX.com and interact with other people through social media platforms and learn how you can trade forex profitably.

Compare to Other Brokers

FOREX.com FAQ's

Here are some of the most frequently asked questions about FOREX.com.