FOREX.COM Review 2021 – Top Key
FOREX.COM Review 2021
FOREX.com is a global market leader in Forex trading with more than two decades (1999) of financial market experience. FOREX.com gives access to retail traders and corporates to the world’s largest liquid market, offering Forex, shares, indices, commodities, and more. Trading platforms including its proprietary trading platform, and legendary MetaTrader 4 platform, ninja trader, and many others.
Top Key Points for FOREX.com in 2021
Founded in 1999, FOREX.com is a publicly-traded company (NASDAQ: SNEX). It’s regulated in 4 top-tier jurisdictions, making it a safe broker (low-risk) for trading forex and CFDs.
Regulated by 4 top-tier regulatory bodies. (FCA, CFTC, IIROC, and ASIC) making it a safe broker (low risk). It’s part of StoneX Group Inc. which publicly-traded company (NASDAQ: SNEX).
4500+ trading instruments available. Flagship Advanced Trading platform (desktop) and entire MetaTrader suite.
#1 FX broker for USA clients. (CFDs not supported).
Suitable for professional traders with big accounts.back to menu ↑ back to menu ↑
Is FOREX.com safe or a scam?
No, FOREX.com is not a scam. In fact, in safety measure, FOREX.com is highly trusted and has a good long-term reputation from its customers, and worldwide recognized by industry expert traders. Forex.com is regulated and authorized by some of the strictest regulatory bodies in financial industries. Forex.com is authorized by four tier-1 regulatory institutions. These are The Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Investment Industry Regulatory Organization of Canada(IIROC), Japanese Financial Services Authority (JFSA). Its parent company is publicly traded (NASDAQ: SNEX), does not operate a bank. Clients’ money is kept in segregated funds. Only European clients will be able to get compensation funds because of European regulations, and the rest of the world will trade under different regulators.
- Founded in 1999 serving clients worldwide with a good reputation for more than 2 decades.
- Regulated by some of the strictest regulatory institutions (FCA, CFTC, IIROC, and ASIC).
- Clients’ money kept in segregated accounts from the assets of the bank.
- Compensation fund available only for European clients
- Lack of negative balance protection for non-EU clients.
Our review team found that FOREX.com licensed and regulated by 4 top-tier regulatory bodies. (FCA, CFTC, IIROC, and ASIC) making it a safe broker (low risk). It’s part of StoneX Group Inc. which publicly-traded company (NASDAQ: SNEX).
- GAIN Capital UK Limited, regulated in UK by FCA (the Financial Conduct Authority) with license number 113942.
- GAIN Capital Australia Pty Ltd. Is regulated by ASIC (Australian Services and Investments Commission).
- In japan GAIN Capital Japan Co..Ltd. regulated by The Financial Services Authority (FSA) regulates FOREX.com.
- GAIN Capital Group LLC regulated by
- Commodities Futures Trading Commission (CFTC) regulates (dba FOREX.com), which is also a member of the National Futures Association (NFA) In the United States jurisdiction.
- FOREX.comCanada Limited. regulated by (IIROC) the Investment Industry Regulatory Organization of Canada.
Offering of Investments
FOREX.com gives access to 4,500+ trading products with competitive pricing and quality execution. This would be sufficient enough for most traders if not all, and the tradable instrument range is significantly higher than other brokers. Tradable instrument available to you depends on which global entity under FOREX.com house you are trading with. Like, USA traders can’t trade CFDs and UK traders can’t trade cryptocurrencies.
Cryptocurrency: Cryptocurrency trading is available in form of CFDs. (You can’t buy the underlying asset). And remember cryptocurrency is not available in UK entity nor to UK residence.
The following table summarizes the tradeable instruments available to FOREX.com clients.
|Cryptocurrency (CFD)||Yes (except UK)|
|Stocks and Shares||4500+|
Commissions and Fees
Fees: In Forex trading fees are generally of two types. Trading fee and Non-Trading fee.
- A trading fee is charged every time when you open a position. Training fees include spreads, commission fees, swaps, and currency conversion fees.
- Non-trading fees include deposit and withdrawal fees, and inactivity fees.
Trading Cost: FOREX.com offering three account types, and multiple execution methods, trading fees and commission baris depends on account type and execution model. Account features zero commission types, only spread types or with a fixed commission and very tight spreads. They also offers DMA (direct market access) accounts for high-volume traders. Our review team found that FOREX.com pricing is slightly pricier than industry average, often not the cheapest option, but not a premium option either.
Standard Account: With standard account there is no commissions, the only cost traders have to pay is spreads. Minimum spread at EUR/USD pair is 0.8 pips and tipicaly 1.4 pips. (1.6 pips USA). In addition to this there is also rebate program available for active traders that reduce costs by up to 15%. In order to qualify active trader you need to have at least $10,000 balance or trade at least $25 million (leveraged) within a calendar month. Standard account might not the way we will go for.
|Commissions||Depends on Account type|
|Minimum Initial Deposit||$100|
|EUR/USD Spread||0.8 – 1.4 pips (1.6pips on U.S)|
|Commission on Islamic Accounts||No|
|Withdrawal Fees||Yes (in a few methods, bank Withdrawal fee $40)|
FOREX.COM : Rebate Program
FOREX.com provides rebates to its active traders, To qualify as an active trader you have to deposit a minimum of $10,000 or trade $25M of volume in a calendar month. there are five levels of rebate program available, traders can receive $3 to $10 per million traded, rebates depends on traders monthly trading volume.
- Level 1: $3 rebate/million for trade 25 to <50 million volume and Average savings 4%
- Level 2: $4 rebate/million for trade 50 to <100 million volume and Average savings 6%
- Level 3: $6 rebate/million for trade 100 to <250 million volume and Average savings 9%
- Level 4: $8 rebate/million for trade 250 to <500 million volume and Average savings 12%
- Level 5: $10 rebate/million for trade 500+ million volume and Average savings 15%
Yes, FOREX.com charges inactivity fees, if an account has no activities for a continuous period of one year, a charge of $15 per month will be applied.
There is no charge, if:
- The account is closed.
- Trading activity recommences on the account.
- The balance reduced to zero.
Deposit and withdrawal fees
Although there are no fees while making deposits but you have to pay certain fees for withdrawal using some methods. This is a big drawbacks of FOREX.com broker is their Bank withdrawal fee, in order to withdraw with banks you have to pay a fat $40 withdrawal fee. The fee amount also varies indifferent entity. If you are trading with a small account (under 5k) then you should use another alternative withdrawal method that has less or zero fees.
If you are comfortable with bank payments because it’s more reliable, then you should use a broker that does not charge fees for deposit and withdrawal, XM could be a better option for you. Check out our full review about XM brokers.back to menu ↑ back to menu ↑
Trading Platforms and Tools
Trading Platforms: FOREX.com broker is recognized for its best class trading platforms and professional-level research tools. It provides traders everything they need from desktop flagship Trading platform to full MetaTrader sutite including MT4 and MT5 platform and also a web trader. In our 2021 Forex brokers list, FOREX.com sets its position higher than its competitors. It offers different powerful trading platforms with multiple order types, an advanced charting system, and powerful indicators that help to enhance the trading experience and achieve the trading goal.
Desktop Platform: Desktop flagship trading platform comes with robust charting package loaded with a huge 139 indicators, 50+ drawing tools, and over a hundred pre-defined automated trading strategies.
Web Platform: FOREX.com has its own proprietary web trading platform best suited for casual traders, which comes with a respectable array of features. Its user interface is modern and responsive and charts are powered by Google TradingView and loaded with nearly 100 indicators, 14 different timeframes, and ten chart types. Traders can easily access market news updates, educational videos, recharge tools, signals, and trading central news with external links are available on their web trading platform. Different charts can be opened through the floating window and save custom individual chart layout as preset, so you can use them in the future.
MetaTrader: MetaTrader is the legendary forex and CFD trading platform recognized by all levels of traders. It’s accessible from all kinds of devices. The desktop version of MetaTrader 4 & 5 gives you control over everything including all advanced types of orders, open positions, use stop loss or take profits, pending orders, or even control expert advisor, test your different trading strategies.
|MetaTrader 4 (MT4)||Yes|
|MetaTrader 5 (MT5)||Yes|
|Ninja Trade, DupliTrade, ZuluTrade||No|
|Indicators||139 (60+ Mobile)|
|Drawing Tools||50-web, 44-MT5, 24-MT4|
FOREX.COM :Research Tools
Forex.com offers a wide range of research tools from a combination of in-house and third parties resources including an economic calendar, global market news, multiple news channels, automated pattern-recognition modules from Trading Central. Forex.com gives access to premium content from trading Central. There is also quality written content available including weekly posts such as its “Currency Pair of the Week” and “Week Ahead” series.back to menu ↑ back to menu ↑
Forex.com provides nearly a hundred written articles for basic to advanced-level traders. Resources like 19 quality beginner articles, webinars, glossary, Market outlooks, and many more.back to menu ↑ back to menu ↑
Forex.com is suitable for both basic and advanced traders, speacially for more advanced traders with big accounts who want more advance trading with the best popular platforms. And when it comes to trust its regulated by some of the strictest jurisdictions.
- 20 Years of Market Experience
- 4500+ tradeable instruments
- Regulated by FCA, ASIC, NFA, and more. Protection for European clients
- Best in class Research tools & multiple trading platforms
- Average cost
- Higher bank withdrawal fee
- No protection for USA & Non-EU clients
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