Forex.com provide traders with robust trading platforms, including MT5, TradingView, and Proprietary Android/iOS software. Through these platforms you can trade CFDs with no commissions and some of the tightest spreads in the market.
What are the trading conditions in Forex.com broker? We’ll explore trading fees (commission and spread), account types (Standard, Raw Spread, and MetaTrader), customer support, restricted countries, and many more in this Forex.com review.
Forex.com (Company Information and Regulation)
Forex.com was launched in 2001 in New Jersey, and in 2009, it expanded to UK and Japan. StoneX Group Inc. acquired the award-wining company in 2020 and shortly after launched the broker in Europe.
The broker benefits from the mother company’s financial strength. StoneX Group published an annual report in 2022 indicating that it has $19.68B in total assets and $277M in annual income before tax. Key Features of Forex.com:
- Regulated by multiple top-tier authorities, including:
- Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) in the United States;
- Financial Conduct Authority (FCA) in the United Kingdom;
- Australian Securities and Investments Commission (ASIC) in Australia;
- Monetary Authority of Singapore (MAS) in Singapore;
- Canadian Investment Regulatory Organization (CIRO) in Canada;
- Financial Services Agency (FSA) in Japan;
- Cyprus Securities & Exchange Commission (CySEC) in Cyprus.
- Over 1,000,000 customers;
- The Most Competitive Broker in “Global Forex Awards 2023”;
- 1000+ financial instruments;
- Average trade speed of 0.02 seconds.
This multi-jurisdictional regulation ensures that Forex.com operates with transparency and accountability, providing traders with peace of mind when it comes to the safety of their investments.
Specifics of Forex.com broker
The broker stands out in the crowded forex broker market due to its comprehensive offerings and user-friendly approach. Here's a breakdown of what makes Forex.com unique.
Broker | Forex.com |
Account Types | Standard, Raw Spread, MetaTrader |
Regulating Authorities | CFTC, SEC, FCA, ASIC, MAS, CIRO, FSA, CySEC |
Based Currencies | USD, EUR, GBP |
Minimum Deposit | $100 |
Deposit Methods | Local Transfer, Credit/Debit Cards, Wire Transfer, Neteller, Skrill |
Withdrawal Methods | Credit/Debit Cards, Wire Transfer |
Minimum Order | 1,000 units |
Maximum Leverage | 1:50 |
Investment Options | EAs |
Trading Platforms & Apps | MT5, TradingView, Proprietary Platform |
Markets | Forex, Indices, Shares CFD, Commodities, Cryptocurrencies, Thematic Indices |
Spread | Variable based on the instruments |
Commission | $0.0 (except for Shares) |
Orders Execution | Market, Limit, Stop-Loss, Trailing Stops, Trigger |
Margin Call / Stop Out | N/A |
Trading Features | Academy, EAs, Performance Analytical, Economic Calendar |
Affiliate Program | Yes |
Bonus & Promotions | Referral |
Islamic Account | Yes |
PAMM Account | No |
Customer Support Ways | Email, Live Chat, Phone, Ticket |
Customer Support Hours | 24/5 |
Forex.com Broker Account Types
The broker offers several account types to suit different trading styles and experience levels.
- Standard: A traditional account with spreads as low as 1.0pt and TradingView accessibility;
- Raw Spread: ultra-tight spreads from 0.0pts on Major currency pairs;
- MetaTrader: Access the latest MT5 version with floating spreads from 1.0pt.
These accounts also come with technical insights, market analysis, integrated economic calendar, research, and account management.
Forex.com Pros and Cons
Let's take a balanced look at the advantages and disadvantages of trading with Forex.com.
Pros | Cons |
A wide range of tradable instruments | Higher spreads compared to some low-cost brokers |
High-quality trading platforms | Geo-Restrictions |
Excellent market research and educational content | Inactivity fees |
Strong regulatory oversight | - |
Registration and KYC on Forex.com Broker
Opening an account with Forex.com is a straightforward process, but it does involve a thorough Know Your Customer (KYC) procedure to comply with regulatory requirements and prevent fraud.
- Navigate to the broker’s official website;
- Click “Open an Account”;
- Choose your preferred account type;
- Fill out the “Account Information”, “About You”, and “Trading Experience” forms;
- Provide proof of identity (passport or driver’s license) and proof of address (utility bill or bank statement) documents.
Forex.com Trading Platform Offerings
Forex.com provides a variety of trading platforms to cater to different trader preferences and needs.
- Proprietary platform: Integration with TradingView, 80 Indicators, 11 chart types, and 14 time frames, available on the following systems:
- MT5: Integration with Reuters news, 9 EAs, 2100 technical indicators, available on the following systems:
- TradingView: Create a TV login, connect your Forex.com account to it, enjoy exclusive trading tools, and join the community of 50M users.
Forex.com Fee Structure
The next stage in the Forex.com review is the fee structure. Understanding it is crucial for managing your trading costs effectively. Here's an overview of Forex.com fees on the most important markets and instruments.
Markets | Spread | Commission |
EUR/USD | From 0.7pts | None |
Germany 40 | From 1.0pt | None |
UK 100 | From 1.0pt | None |
Spot Oil | From 0.0pts | None |
Gold | 0.15 Cents | None |
Shares | N/A | 0.1% |
Note that the Raw Spread account has a fixed $5 commission per $100,000 traded on FX.
Available Payment Methods on Forex.com Broker
The company offers a variety of payment methods to accommodate traders from different regions. Forex.com funding options:
Method | Min Amount | Max Amount | Currencies | Processing Time |
Local Transfer | $100 | $10,000 | USD, ARS, MYR, THB, VND, IDR, PHP, BRL, COP, CRC, CLP, MXN, PEN | 0 - 30mins |
Credit/Debit Cards | $100 | $10,000 | USD, EUR, GBP | Immediate |
Wire Transfer | None | None | USD, EUR, GBP | Up to 1-2 business days |
Neteller or Skrill | $100 | $10,000 | USD, EUR, GBP | Immediate |
While the broker offers various methods for depositing funds, these options are limited when it comes to withdrawals.
Method | Min Amount | Max Amount | Currencies | Processing Time |
Credit/Debit Cards | $100 | $50K | USD, EUR, CAD, JPY, CHF, AUD, GBP | Up to 24 hours |
Wire Transfer | $100 | Unlimited | USD, EUR, CAD, JPY, CHF, AUD, GBP | Up to 48 hours |
Does Forex.com Offer Copy Trading and Growth Plans?
The broker does not offer a dedicated copy trading service or structured growth plans as of the latest information available. Forex.com focuses primarily on providing tools and resources for self-directed trading.
Forex.com Broker Markets and Instruments
The brokerage company offers a diverse range of tradable instruments across multiple asset classes.
- Forex: Over 80 major, minor, and exotic currency pairs;
- Indices: Major and most popular indices, including Dow Jones, S&P 500, and FTSE 100;
- Shares CFD: US stocks, headline names, and newly listed IPOs;
- Commodities: Precious Metals (Gold and Silver), energy (Oil and Natural Gas), and agricultural products (Coffee and Cotton);
- Cryptocurrencies: Trade CFDs on the most popular digital assets like BTC, ETH, LTC, and XRP;
- Thematic Indices: Access handpicked group of shares, such as Magnificent 7 (Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, Tesla).
Does Forex.com Offer Bonus and Promotional Programs?
The broker’s bonus and promotion offerings vary based on the client’s region. The US branch currently offers 4.5% interest on average daily available margin and 5% cashback up to $10,000.
However, the Europe branch doesn’t offer any specific promotional programs, except for a referral program which enables you to receive $300 commission for each referred account that makes at least a deposit of $300.
Forex.com Broker Customer Support
We must discuss customer support on the Forex.com review. The broker prides itself on providing comprehensive customer support to its clients through various channels.
Ticket | On the “Contact US” page |
Live Chat | Through the official website |
Phone | +357 220 900 62 |
support.en@forex.com |
Forex.com Geo-Restrictions
While the company is a global broker, it does have certain geo-restrictions due to regulatory requirements. List of restricted countries on Forex.com:
- Iran;
- Israel;
- Lebanon;
- Libya;
- North Korea;
- Sudan.
Forex.com Trust Scores
One of the most important topics in this Forex.com review is user satisfaction. The broker has earned high trust scores from various review platforms and industry experts.
4.7 out of 5 based on 1,607 reviews | |
Forex Peace Army | 2 out of 5 based on 303 reviews |
Investopedia | 4.5 out of 5 |
Is There Any Educational Content on Forex.com?
The broker offers a wealth of educational content for traders of all levels on its Academy section. These materials are divided into two main categories, Education and Tutorials.
- Education: Courses, Lessons, Self-Assessment, and Glossary;
- Tutorials: On various subjects, such as MetaTrader, Mobile Apps, Web Trader, and How to Trade CFDs.
Conclusion and Final Words
Forex.com offers a comprehensive suite of trading tools, such as TradingView integration, Expert Advisors (EAs), Performance Analytics, Economic Calendar, Integrated Reuters news feed, and many more.
Forex.com broker also provides a wide range of tradable instruments and robust educational resources (courses and tutorials on MetaTrader and mobile platforms). Share your thoughts about the Forex.com review in the comments.
