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Forex.com Review

  • Regulated by: Financial Conduct Authority
  • Safety: segregates client funds
  • Trust Rating: AAA
Open Forex.com's Website

Losses can exceed deposits

Overview

Forex.com is a forex trading services broker. They give traders access to a wide variety of instruments in several markets like currencies, indices, commodities, etfs and ipo. For commodity traders, they offer a range of energies, metals and agriculturals.

To open a live account, you’ll need a minimum deposit of at least $500. Alternatively, Forex.com offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by the Financial Conduct Authority, UK (FRN: 113942). Forex.com puts all client funds in a segregated bank account and uses tier-1 banks for this. Forex.com has been established since 1999, and have a head office in United States.

Before we dive into some of the more detailed aspects of Forex.com’s spreads, fees, platforms and trading features, you may want to open Forex.com’s website in a new tab by clicking the button below in order to see the latest information directly from Forex.com.

Open a demo account Visit Forex.com

Full disclosure: We may receive a commission if you sign up with a broker using one of our links. Your capital is at risk. CFDs are leveraged products & 73% of traders lose money when trading CFDs.

Forex.com screenshot

PROS

  • Segeregates client funds
  • Established in 1999
  • Regulated by Financial Conduct Authority
  • Min. deposit from $500

CONS

What are Forex.com's spreads & fees?

Like most brokers, Forex.com takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The spreads displayed below are based on the minimum spreads listed on Forex.com’s website. The colour bars show how competitive Forex.com' spreads are in comparison to other popular brokers featured on BrokerNotes.

Spreads are dynamic and are for informational purposes only. Last updated: June 06, 2018.

As you can see, Forex.com's minimum spread for trading EUR/USD is 1.0 pips - which is relatively high compared to average EUR/USD spread of 0.82 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Forex.com vs. similar brokers.

See all Spreads
Losses can exceed deposits

How much does Forex.com charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with Forex.com at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $N/A. Here’s a rough breakdown of the fees and how this compares against City Index & AvaTrade.

XTB City Index AvaTrade
Spread from: N/A $ 5.00 $ 7.00
Typical overnight fee: N/A $ 20.60 $ 5.00
Commission: N/A 0 0
Total cost of a 100k trade: N/A $ 25.6 $ 12
Visit XTB Visit City Index Visit AvaTrade

All fees/prices are for informational purposes and are subject to change. Last updated: 09/03/2018. Losses can exceed deposits

General Fees

  • Forex.com doesn’t charge inactivity fees*
  • Forex.com doesn’t charge withdrawal fees*

Overnight fees & swap rates

When you hold a position overnight, it is usually subject to overnight interest which you must pay to your brokerage (sometimes called a rollover fee or swap rate).

  • The rollover fee for long positions on EUR/USD is -$6.20
  • The rollover fee for short positions on EUR/USD is -$0.52

Commissions

  • Forex.com doesn’t charge commission on CFD shares

What can you trade with Forex.com?

Forex.com offers over 1,500 different instruments to trade, including over 48 currency pairs. We’ve summarised all of the different types of instruments offered by Forex.com below, along with the instruments offered by City Index and AvaTrade for comparison.

FX / Currencies XTB City Index AvaTrade
# of forex pairs offered 48 84 59
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies Yes Yes Yes
Commodity CFDs XTB City Index AvaTrade
# of commodities offered 21 26 16
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural Yes Yes Yes
Index & Stock CFDs XTB City Index AvaTrade
# of Stocks offered 1606 4500 99
UK Shares Yes Yes Yes
US Shares Yes Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
See XTB's InstrumentsSee City Index's InstrumentsSee AvaTrade's Instruments
Losses can exceed deposits

What’s the Forex.com trading experience like?

1) Platforms and apps

Forex.com offers the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. Forex.com also offer their custom FOREXTrader PRO platform.

Forex.com Screenshot See Forex.com 's Platforms

Forex.com also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

See Forex.com 's platforms
Losses can exceed deposits

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Accounts offered:

  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • Islamic account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

With Forex.com, the minimum and maximum trade requirements vary depending on the trader and the instrument. As Forex.com offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you’re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

Finally, we’ve listed some of the popular funding methods that Forex.com offers its traders on the right.

Funding methods:

  • Bank Transfer

3) Client support

Forex.com support a wide range of languages including English, Chinese, and Arabic.

Forex.com has a BrokerNotes A support rating because Forex.com offer over three languages and email support.live chat support.

4) What you’ll need to open an account with Forex.com

As Forex.com is regulated by Financial Conduct Authority, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore Forex.com’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Forex.com you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.forex.com on August 23, 2018.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.