Forex.com Review
4.4
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.1% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Forex.com is a professional and reliable forex trading platform that provides traders with advanced technology, a wide range of tradable instruments, competitive pricing, robust risk management tools, comprehensive research resources, and dedicated customer support. Whether you are a beginner or an experienced trader, Forex.com offers the necessary tools and support for a rewarding forex trading experience.
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Part of StoneX Group (NASDAQ), is regulated by multiple financial authorities worldwide, ensuring safety for forex and CFD trading
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The majority of clients are affiliated with a renowned and top-tier financial regulatory authority
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Low fees for forex trading
Overview
Year founded
Minimum deposit
Withdrawal fee amount
Available Offerings
Platforms available
2001
100$
0$
Forex, CFD, Crypto
Desktop, Mobile, Web
Account Opening
The account opening process at Forex.com is incredibly smooth and fully digital, offering the convenience of a low minimum deposit requirement. However, it's worth noting that the account verification procedure may take approximately 2-3 business days, which is not the fastest compared to some competitors in the market. One notable feature is that Forex.com provides a free demo forex trading account with $10,000 virtual funds, allowing you to practice without any risk or obligations. Keep in mind that the demo account has a 30-day expiration period. When it comes to live trading, Forex.com sets a minimum deposit requirement of $100, which is relatively low compared to other brokers available. Forex.com presents three distinct account types: Forex.com Account, MetaTrader, and DMA, each with its own pricing structure and selection of trading platforms. The process of opening an account with Forex.com is straightforward and fully digital. The online registration can be completed within a mere 15 minutes. To open an account with Forex.com, follow these four simple steps. First, Choose between Forex.com's proprietary trading platform or MetaTrader 4, a third-party trading platform. Next, Fill out your personal and financial information and answer a few questions regarding your financial knowledge and trading history. Finally, Verify your identity and residency. You can upload a national ID card, passport, or driver's license as proof of identity, while utility bills and bank statements are accepted as valid proof of residency.
Safety
Forex.com, a renowned platform, is subject to regulation by multiple financial authorities worldwide. Its parent company, StoneX Group Inc, is listed on the NASDAQ Stock Exchange. Forex.com is regulated by various esteemed financial authorities, including the UK's Financial Conduct Authority (FCA), Futures Commission Merchant (FCM), Retail Foreign Exchange Dealer (RFED), the Commodity Futures Trading Commission (CFTC), and the National Futures Association (NFA) in the United States. It is also regulated by the Cyprus Securities and Exchange Commission (CySEC), the Investment Industry Regulatory Organization of Canada (IIROC), the Japanese Financial Services Authority (FSA), and the Cayman Islands Monetary Authority (CIMA). The operations of Forex.com are conducted through several legal entities worldwide, with the specific entity serving you depending on your residency. The extent of investor protection you are eligible for is determined by the country where the serving entity is located. Forex.com ensures negative balance protection for clients associated with StoneX Financial Ltd and StoneX Europe Ltd, specifically for forex spot and CFD trading. However, this protection is applicable solely to retail clients from the United Kingdom and the European Union. Professional and non-UK/non-EU clients do not receive negative balance protection coverage. Established in 2001, Forex.com is headquartered in USA.
Risk Disclaimer
Trading securities carries a significant level of risk. When it comes to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is substantial exposure to various risks. These risks include, but are not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility. They can have a significant impact on the price or liquidity of a currency or related instrument. It is important to note that the methods, techniques, or indicators provided in these products may not necessarily yield profits, and there is a possibility of incurring losses. For more information on the risks associated with forex trading, please refer to further resources.
Summary
Forex.com is a reputable forex and CFD broker that operates under the regulation of multiple financial authorities. However, it does have certain limitations to consider. Notably, it does not offer popular assets such as real stocks or bonds, and the fees associated with Stock CFD trading are relatively high.
On the other hand, there are several advantages to trading with Forex.com. It boasts competitive forex fees, providing cost-effective opportunities for traders. Additionally, the platform offers a wide range of tradable currency pairs, catering to diverse trading strategies. Moreover, Forex.com does not impose an inactivity fee unless an account remains dormant for a period of one year, which is beneficial for infrequent traders.