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Want to see if Forex.com is a legit broker? Is it safe to trade? It spread is high or low? How long to deposit or withdraw funds?

We provide answers to all the questions in this Forex.com Review.

We checked Forex.com licenses and regulations to see if Forex.com scam or safe. Compared Forex.com fees like spread & commission from the Live account to other 150 brokers, required time for deposit & withdrawal and many more findings all in this review.

What is Forex.com

Forex.com is a global Forex and CFD broker, a part of GAIN Capital Holdings established in 1999.

The holding is a publicly-traded company that operates under several licenses issued by the top-tier CFTC in the USA, Financial Conduct Austerity in the UK, ASIC in Australia, IIROC in Canada and many more regulated entities worldwide.

Forex.com highlights

πŸ—ΊοΈ Regulated inUSA, UK, Australia, Japan, Singapore, Canada, Cayman Islands
πŸ›‘οΈ Is Forex.com safe to tradeYes
πŸ’΅ EUR/USD spread1.3 pips
🏦 DepositBank Wire, Credit and Debit Cards  
πŸ’° Minimum depositUS$100
🏦 WithdrawalBank Wire, Credit and Debit Cards
πŸ’» Trading platformMT4, MT5, Forex.com Platform
πŸ’³ Trading marketsForex and CFDs on Commodities, Indices, Stocks and Cryptocurrencies
πŸ“ˆ Number of product4500+
πŸ“‰ Live chat responseInstant and relevant answers

Regulation

License and regulation are the keys to traders’ fund security. We check two factors, a license that broker carry also its background, and how you are protected if something goes wrong.

Is Forex.com legit

Forex.com is regulated by multiple financial authorities, also is part of Hoch Capital and StoneX Group Inc. listed on Stock (NASDAQ: SNEX) and operating over 20 years.

The company is established under the Financial Conduct Authroty (FCA), Monatary Authority of Singapore (MAS), Australia Securities and Investment Commission (ASIC) regulation, and other regulators with global expand.  

Forex.com Licenses and status

EntityRegistered inRegulatorLicense no.Status
GAIN Capital Holdings IncUSACommodity Futures Trading Commission (CFTC), a member of the National Futures Association (NFA) Currently Regulated
GAIN Capital UK LtdUKFinancial Conduct Authority (FCA) 113942 Currently Regulated
GAIN Capital Australia Pty LtdAustraliaAustralia Securities and Investment Commission (ASIC)ACN 141 774 727, AFSL 345646Currently Regulated
GAIN Capital Canada LtdCanadaInvestment Industry Regulatory Organization of Canada (IIROC)12-0165Currently Regulated
GAIN Capital  Japan LtdJapanFinancial Services Authority (FSA) Currently Regulated
GAIN Capital Singapore Pte LtdSingaporeMonetary Authority of Singapore (MAS) Currently Regulated
GAIN Global Markets Inc.Cayman IslandsCayman Islands Monetary Authority (CIMA)25033Currently Regulated
Forex.com Review – FCA License
Forex.com Review – FCA License

Is Forex.com safe

Yes, Forex.com is considered safe because it is regulated by the top-tier regulators and has strong background.

Forex.com operates seven legal entities each licensed and regulated according to necessary laws

Forex.com compensation scheme

EntityCompensation AmountNegative Balance Protection
GAIN Capital Holdings Inc (USA)No compensationYes
GAIN Capital UK LtdΒ£85,000Yes
GAIN Capital Canada LtdCAD 1,000,000Yes
All other entitiesNo compensationYes

We recommend registering trading account with the UK or Canada entities as they are considered the best. USA and Australia entities are also good but provides no compensations

Forex.com provides negative balance protection for all retail clients.

Markets and Products

At Forex.com you can trade extended range of global markets including Forex and CFDs on Commodities, Indices, Stocks and Cryptocurrencies.

The trading of real Stocks or Futures is not available.

MarketsInstruments
Forex80+
Indices20
Commodities29
Bonds6
Cryptocurrencies9
Shares380+

Account types

Forex.com has three account types with different pricing models and execution model for commission based and high-volume Forex trading.

Login

Login Account available through the website, where you can register or access your online account area.



StandardCommissionDirect Market Access
Minimum Deposit100 USD100 USD200 USD
Minimum Balance––25,000 USD/EUR/GBP
Spreads From1 pips0.2 pips0.1 pips
CommissionsZero Commissions50$ per million60$ per million
Forex.com Review – Account
Forex.com Review – Account

Fees and commissions

We ranked Forex.com fee levels as average and low based on our findings via Standard Live Account Spread and compared to 150 brokers in our database.

The spread we collected for popular instruments from 6 markets and over 150 brokers

MarketsInstrumentsLowAverageHigh
ForexEUR/USD0.1-0.91-1.51.6 or higher
IndicesUS 5000.1-0.40.5-1.41.5 or higher
CommoditiesGold0.1-0.40.5-22.1 or higher
StocksTesla0.1-0.50.6-11.1 or higher
ETFsUS Russell 20000.1-0.40.5-1.41.5 or higher
CryptocurrenciesBitcoin0.1-0.5%0.6-0.9%1% or higher

Spreads

Forex.com fee basis is different in each account type.  

Comparing the spreads charged for our test trades on Standard account spreads average on 1.2-1.3 pip for EURUSD, compared to industry benchmarks we rank Forex and Stocks spreads average, while Commodities fees are low.

MarketsInstrumentsStandardOther brokers’ avg spread
ForexEUR/USD1.31-1.5
IndicesUS 5000.60.5-1.4
CommoditiesGold0.030.5-2
StocksTesla0.15%0.6-1
ETFsUS Russell 20000.30.5-1.4
CryptocurrenciesBitcoin700.6-0.9%

Margins

Each instrument defines margin requirement, for EURUSD margin is from 0.5%.

Other Fees

Forex.com has low non-trading fees. There is no fee for deposit and withdrawals, but there is inactivity fee of 15$ after one year of no use.

Trading Conditions

The trading conditions at Forex.com are good. You can deploy mostly all types of strategies including scalping, daytrading, EAs and hedging.

Trading ConditionsYes/No
Hedging AllowedYes
Scalping AllowedYes
Change Leverage AllowedYes

For hedging, there are no time limitations for keeping hedging positions, but hedging is not available for US clients.

For scalping, Standard account is good for scalpers ad does not restrict use as ling as margin for opening positions are enough. Forex.com MT5 is pre-installed on the VPS for those who run Expert Advisors (EAs).

Leverage

Forex.com allowing to use leverage for CFD trading and change its levels, but maximum levels depending on the regulatory restrictions.

Deposit

Forex.com charges no deposit fees. You can denominate your account in your base currency and deposit via bank transfer or Credit Card. From the downside e-payments are not supported.

A bank transfer can take few business days, while payment with credit/debit cards are immediate.

Deposit MethodFunding TimeFee
Bank Wire Transfer1-2 business days0$
Credit / Debit CardImmediate0$
Forex.com Review – Deposit and withdrawal – Deposit
Forex.com Review – Deposit and withdrawal – Deposit

Minimum Deposit

The minimum deposit requirement at Forex.com is $100 or currency equivalent for Standard account.

Withdrawal

Forex.com charges no fees for withdrawals similar to deposits policy also using the same payment options Bank Wire and Cards.

Forex.com process withdrawals within 1-2 business days, extra days to reach your account are defendant on the provider.

Withdrawal MethodWithdrawal TimeFee
Bank Wire TransferUp to 48 hoursAdditional fees may be applied by receiving bank.
Credit / Debit CardUp to 24 hoursFree

Bonus

Forex.com offers Welcome bonus promotion allowing to receive a 20% bonus on the amount you fund. However, bonuses usually available under terms and conditions for international clients and excluding the UK, USA, Australian and other traders.

Forex.com Review – Welcome Bonus
Forex.com Review – Welcome Bonus

Trading Platform

Forex.com offers various platforms MetaTrader4, MetaTrader5 and Forex.com Advanced Platform. 

MT4

Forex.com MetaTrader4 supporting great number of languages and features extra tools. MT4 and its newer version MT5 both available across all devices via Desktop, Web and Mobile App for Android and IOs.

PK

Forex.com’s desktop platform is accessible across PK on Windows and Mac, also integrated for professional trading and available on Web Trading version and Mobile Trading.  

Forex.com Review – Forex.com advanced platform
Forex.com Review – Forex.com advanced platform

Research and Tools

Forex.com research and tools are great, numerous tools inbuilt into platforms including Calendars, Multiple News Channels and News Feed, Advanced Charting tools, FX trade Signals, Trading Ideas, Market Strategist and Analysis.

There in no negative points in that part of Forex.com trading, research tools available through:

  • MetaTrader trading platforms
  • Forex.com Platform
  • Market Analysis section on the website
Forex.com Review – Research
Forex.com Review – Research

Education

Forex.com educational content is high quality and easy to navigate. You can find education courses divided by the level of experience and well categorized education themes with videos, platform tutorials, webinars.

Demo Account

Demo accounts are free and available for all offered platforms including MetaTrader and Forex.com platform.

At Forex.com you can learn in the following:

  • Demo account
  • Trading videos and tutorial videos
  • Webinars, Courses
  • Educational articles
Forex.com Review – Education
Forex.com Review – Education

Customer Service

Forex.com customer service is good, FAQ section is informative and well-categorized, also we got fast and proper answer via Live Chat.

You can contact Forex.com in various ways yet only available 24/5:

  • Live chat
  • Telephone
  • Email
Forex.com Review – Customer Service
Forex.com Review – Customer Service

Forex.com live chat showed us a high speed response via the website

Question AskedWe asked about commission charges.
Time of ReplyWe were connected to customer support Live Chat within minutes
Quality of ReplyThe answer was deep enough.

Conclusion

Forex.com is a safe broker to trade. The company has solid background, capitalization and almost worldwide authorization operating under full supervision of authorities.

From the good points, we would admit good selection between trading platforms, availability of strategies and pricing models.

We recommend Forex.com for beginning, scalpers and professional traders seeking high-volume Forex trading opportunity.

Author of this review

By Jimmy O'Brien

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets.
I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets, and adding value wherever I can.

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