Forex.com has won the “Most Competitive Broker” prize from “Global Forex Awards 2023”. The broker offers VIP members up to 4.5% APY interest on their free margin, and a 5% cashback up to $10,000 for all clients.
An international brokerage company with 800+ employees and over 1200 partners
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-winning company in 2020 and shortly after launched the broker in Europe.
The Forex 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. Clients are assigned to different legal entities based on their geographic location.
While Tier-1 regulated entities like FCA, ASIC, and CySEC provide strong protections (e.g., FSCS or ICF compensation schemes, segregated funds, and negative balance protection), the Cayman Islands entity (GGMI) offers higher leverage and operational flexibility but does not offer an investor compensation scheme.
The broker offers a wide range of financial instruments, including Forex, stocks, indices, commodities, gold, cryptocurrencies, and bullion.
With support for multiple trading platforms, including MetaTrader 5 and a proprietary web trader, Forex.com caters to both beginners and experienced traders.
Its commitment to client fund protection, security, and global transparency has made it one of the most recognized names in the forex industry.
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, ideal for high-volume traders seeking tighter spreads. Eligible for a six-tier Active Trader rebate program (up to $9/million traded)
- MetaTrader: Access the latest MT5 version with floating spreads from 1.0pt
These accounts also come with technical analysis, market insights, an integrated economic calendar, research, and account management.
The minimum deposit is $100 for all account types, but Forex.com recommends $1,000 to enable proper risk management. Demo accounts are available for up to 90 days with $50,000 in virtual funds.
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
Setting up an account with Forex.com is quick and secure, with a regulatory-compliant onboarding process that includes full KYC verification. Traders gain access to a wide range of forex pairs, CFDs, and commodities, all through trusted platforms like MetaTrader 4 and Forex.com Web Trader.
#1 Access the Registration Portal
Go to the official Forex.com website and click on “Open an Account” to begin the sign-up process.
#2 Select an Account Type
Choose the appropriate account type based on your trading needs, such as Standard, Commission, or DMA accounts, each offering different spreads, execution models, and minimum deposits.
#3 Enter Personal and Financial Details
Complete all required forms, including:
- Account Information (email, country, login credentials)
- About You (personal identification, employment)
- Trading Experience (knowledge level, past trading activity)
#4 Submit KYC Documents
Upload two key documents:
- A valid government-issued ID (passport or driver’s license)
- A recent proof of address (utility bill or bank statement)
After a successful review, your account will be verified and ready for funding and live trading under the Forex.com infrastructure.
Forex.com Trading Platform Offerings
Forex.com provides a variety of trading platforms, from MetaTrader 4 to a proprietary platform, to cater to different trader preferences and needs.
Forex.com Proprietary Platform
Integration with TradingView, 80 Indicators, 11 chart types, and 14 time frames, available on the following systems:
Forex.com MetaTrader 5
Integration with Reuters news, 9 EAs, 2100 technical indicators, available on the following systems:
- Windows
- Web
- MT5 Android
- MT5 iOS
Forex.com 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. The broker applies an inactivity fee of $15/month after 12 months of no trading activity.
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
Forex.com offers access to over 5,500 tradable instruments, making it a strong multi-asset brokerage:
- 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 a minimum commission of $300 for each referred account that makes at least a deposit of $300. Note that the commission plan has a leveraged structure with the following specifics.
First Deposit | Commission |
$300 - $499 | $300 |
$500 - $799 | $500 |
$800 - $1,199 | $800 |
$1200 | $1,000 |
You can use TradingFinder's Rebate Calculator to get an estimate of your cashback earnings.
Forex.com Broker Customer Support
We must discuss customer support in 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 |
Service is available 24/5, and support agents are trained to handle technical, compliance, and platform-related inquiries.
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
You can also check TradingFinder's Forex education section for additional resources.
Forex.com Comparison Table
Let's compare Forex.com offerings with other popular brokers:
Parameter | Forex.com Broker | Alpari Broker | FXGT Broker | Pepperstone Broker |
Regulation | CFTC, SEC, FCA, ASIC, MAS, CIRO, FSA, CySEC | MISA | VFSC, CySEC, FSA, FSCA | ASIC, SCB, FCA, DFSA, CMA, BaFin, CySEC |
Minimum Spread | From 0.0 pts | From 0.0 Pips | From 0.0 Pips | From 0.0 pips |
Commission | From $0.0 | From $0.0 | From $0.0 | From $0.0 |
Minimum Deposit | $100 | $50 | $5 | $1 |
Maximum Leverage | 1:50 | 1:3000 | 1:5000 | 1:500 |
Trading Platforms | MT5, TradingView, Proprietary Platform | MetaTrade 4, MetaTrade 5, Mobile App, Web Trader | MT4, MT5 | Proprietary Platform, cTrader, Trading View, MetaTrader 4&5 |
Account Types | Standard, Raw Spread, MetaTrader | Standard, ECN, Pro ECN, Demo | Standard+, ECN Zero, Mini Optimus, Pro | Standard, Razor |
Islamic Account | Yes | Yes | Yes | Yes |
Number of Tradable Assets | 5,500+ | 120+ | N/A | 1200+ |
Trade Execution | Market, Instant | Market | Market | Instant |
Conclusion and Final Words
Forex.com provides access to 80+ FX pairs, Crypto, and 4 other asset classes with Raw spreads from 0.0 points. The company supports Neteller, Skrill, and Credit Card payments. While Stock trading has a commission of 0.1%, trading other instruments is commission-free. Forex.com broker has a TrustPilot score of 4.7.