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Score

0123456789
.
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0123456789
/10
The WikiFX Score of this broker is reduced because of too many complaints!

FOREX.com

United States|Above 20 years| Benchmark AAA|
Market Making(MM)|High potential risk|

https://www.forex.com/en/

Website

Rating Index

Benchmark

Benchmark

AAA

Average transaction speed (ms)

327 Great

MT4/5

Full License

CityIndexAU-Demo 106

United Kingdom
MT4
126

Capital Ratio

Great

Capital

$ 5,310,078 (USD)

Influence

AAA

Influence index NO.1

United States 9.72
The WikiFX Score of this broker is reduced because of too many complaints!

Benchmark

Speed:AAA

Slippage:AAA

Cost:AAA

Disconnected:AAA

Rollover:AAA

MT4/5 Identification

MT4/5 Identification

Full License

126
Server Name
CityIndexAU-Demo 106 MT4
Server Location United Kingdom

Capital Ratio

Capital Ratio

Great

Capital

$ 5,310,078 (USD)
Ranking in Japan: 26 /407
610.9%
很安全

Influence

Influence

AAA

Influence index NO.1

United States 9.72

Surpassed 83.60% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+1 877.367.3946
support@forex.com
https://www.forex.com/en/
30 Independence Blvd, Suite 300 (3rd floor), Warren, NJ 07059, USA

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

StoneX Financial
Sanne Group Japan

Contact number

English

+1 877.367.3946

English

+1 908.731.0750

English

+1 908.315.0653

English

+971 8000321278

Other ways of contact

Broker Information

More

Company Name

GAIN Global Markets, Inc.

Abbreviation

FOREX.com

Platform registered country and region

United States

Number of employees

Company website
Twitter
Facebook
YouTube

Pyramid scheme complaint

Expose

Check whenever you want

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WikiFX Risk Alerts
Previous Detection : 2024-11-01
  • The number of the complaints received by WikiFX have reached 395 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

FOREX.com · WikiFX Survey
Good Onsite visit to forex broker FOREX.com in New Jersey - business venue does exist
United States
FOREX.com · Benchmark
Average transaction speed(ms)
327 Great
The highest transaction speed(ms)
188
The highest speed of opening positions(ms)
94 Great
The highest speed of closing position(ms)
188 Good
The lowest speed of opening positions(ms)
943 Great
The lowest speed of closing position(ms)
1601
12.96USD/Lot Great
5.17USD/Lot Perfect
Long: -0.73USD/Lot    Short: 0.13USD/Lot Perfect
Long: -4.36USD/Lot    Short: 2.21USD/Lot Perfect
Average slippage
-0.4 Great
Maximum transaction slippage
5 Great
Maximum positive slippage
1 Poor
Maximum negative slippage
5 Great
Average disconnection frequency (times/day)
0.1 Perfect
Average reconnection time (millisecond/per request)
21.2
Ranking: 1 / 134
Test user 583
Orders 1,012
Ocuppied margin $1,247,755 USD
Data Source WikiFX Data provide
Updated: 2024-10-30 01:00:00

Risk Management

Updated Time 2024-09

Average margin deposit rate

Average margin deposit rate(%)

Proportion of unsold orders

Ratio of unsold orders(%)

Hedging Trading

  • Date
  • Institution
  • Percentage
  • Rating

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Total Margin Trend

  • VPS Region
  • User
  • Products
  • Closing time
  • Shanghai
  • 699***
  • EURUSD
  • 10-31 17:33:54
  • Hongkong
  • 718***
  • EURUSD
  • 10-31 17:39:55
  • Tokyo
  • 397***
  • XAUUSD
  • 10-31 17:44:21

Stop Out

0.76%

Stop Out Symbol Distribution

6 months

Sources
Language
Mkt. Analysis
Creatives

FOREX.com · Company Summary

Let's start here:

Forex.com is a major player in forex trading, providing various options including forex, indices, stocks, cryptocurrency, commodities, gold & silver. Their platforms, like the popular MetaTrader 4 and MetaTrader 5, are available worldwide to meet different trader preferences. Backed by robust regulation and a strong focus on security, Forex.com is a favored choice for professionals looking for an all-encompassing trading experience. Now, let's delve deeper to verify if Forex.com lives up to its reputation.

Quick Forex.com Review
Founded 2001
Registered USA
RegulationASIC (Australia), FCA (UK), FSA (Japan), NFA (USA), CIRO (Canada), MAS (Singapore)
Market InstrumentsForex, indices, stocks, cryptocurrency, commodities, gold & silver
Demo Account✅(90 days risk-free trading with $50,000 in virtual funds)
Max. Leverage1:200
EUR/USD SpreadFloating around 1.0 pips
Trading PlatformsWeb Trader, Mobile App, TradingView, MT4, MT5
Minimum Deposit$100
Customer ServiceLive chat, contact form, phone, email

It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Forex.com Information

Forex.com is one of the most respected and trusted forex brokers in the foreign exchange trading industry. Founded in 2001, Forex.com is a global company licensed and regulated by several reputable regulatory authorities, including ASIC in Australia, FCA in the UK, FSA in Japan, NFA in the USA, CIRO in Canada, and MAS in Singapore.

Forex.com's homepage

Pros & Cons

ProsCons
Well-regulatedLess user-friendly for novice traders
Wide variety of investment productsHigh stock trading fees
Advanced trading tools
Low forex fees, no fx commissions
Multiple trading platforms available
Decent customer service
Negtive balance protection

Is Forex.com Legit?

Yes, Forex.com operates legally. Forex.com, a globally recognized broker, is part of an international holding company regulated by reputable authorities worldwide, including ASIC (Australia), FCA (UK), FSA (Japan), NFA(USA), CIRO (Canada), and MAS (Singapore).

Regulated Country Regulated AuthorityRegulated Entity License Type License Number
ASICSTONEX FINANCIAL PTY LTDMarket Making(MM)345646
FCAGain Capital UK LimitedMarket Making(MM)113942
FSAGAIN Capital Japan Co., LtdRetail Forex License関東財務局長(金商)第291号
NFAGAIN CAPITAL GROUP LLCMarket Making(MM)0339826
CIROGAIN Capital - FOREX.com Canada Ltd.Market Making(MM)Unreleased
MASSTONEX FINANCIAL PTE. LTD.Retail Forex LicenseUnreleased

Forex.com's Australian entity, STONEX FINANCIAL PTY LTD, regulated by the ASIC in Asutralia under regulatory number 345646, holding a license for Market Making(MM).

Regulated by ASIC

Forex.com's UK entity, Gain Capital UK Limited, regulated by tier-one regulatory FCA under regulatory number 113942, holding a license for Market Making(MM).

Regulated by FCA

The entity based in Japan, GAIN Capital Japan Co., Ltd, regulated by FSA under regulatory number 関東財務局長(金商)第291号, holding a license for Retail Forex License.

Regulated by FSA

GAIN CAPITAL GROUP LLC, the US entity, regulated by the NFA under regulatory number0339826, holding a license for Market Making(MM).

Regulated by NFA

Candian entity, GAIN Capital - FOREX.com Canada Ltd., is regulated by the IIROC, holding a license for Market Making (MM), with license unreleased.

Regulated by CIRO

STONEX FINANCIAL PTE. LTD., the entity in Singapore, regulated by the MAS in Singapore, holding a license for retail forex.

Regulated by MAS

Additionally, Forex.com offers negative balance protection on all of its trading accounts. This means that clients cannot lose more money than they have in their account, providing an additional layer of security and peace of mind in trading. In the event that an extreme market situation occurs and a position moves against the client, Forex.com will automatically close the position before the account balance falls below zero. This protection helps limit risk for clients and is an important feature to consider when choosing a forex broker.

Market Instruments

Forex.com offers a wide variety of trading instruments, includingforex, indices, stocks, cryptocurrency, commodities, gold & silver. Traders have a wide range of options to choose from and can find opportunities in a variety of markets.

Market Instruments

Minimum Deposit

The minimum deposit amount required to register a Forex.com Standard live trading account is $100, which is quite friendly to most investors.

Here is the table showing the comparison of Forex.com minimum deposit with other brokers:

Broker Minimum Deposit
label
$100
Pepperstone
$0
label
$5
IC Markets Global
$200

Accounts

Forex.com offers its clients two types of trading accounts: the Standard account and the Raw Spread account.

The Standard account is ideal for traders looking for a wide range of advanced charting tools with more than 80 technical indicators and a wide selection of markets to trade with variable spreads as low as 1.0 pips on the EUR/USD currency pair. In addition, this account does not charge commissions on over 300 markets. The commission is only for equities.

On the other hand, the Raw Spread account is ideal for traders looking for raw spreads. Both accounts offer access to Forex.com's award-winning, technologically advanced and easy-to-use trading platform. In addition, clients can switch between the two accounts at any time to suit their trading needs.

Account TypeSpreadCommission
StandardVariable, EUR/USD as low as 1.0 pipsOnly for quities
Raw SpreadTightest, majors as low as 0.0 pipsFixed 5 per 100k USD traded on FX

Account comparison

Forex.com also provides beginners with demo accounts, allowing them to practice in a real trading setting without any financial risks. Demo accounts come with $50,000 in virtual funds and are active for 30 days from the time of registration. Please be aware that once this period ends, you won't be able to access the demo account with the same login details. Notably, each email address can only be used to open one demo account for each type, whether it's on FOREX.com platforms or MetaTrader.

With Forex.com demo accounts, you can enjoy the following features:

  • $50,000 virtual funds
  • Demo accounts active for 90 days
  • Access to 80+ tradable FX pairs, plus gold and silver
  • Using customizable charts

Here is the simple demo account sign-up process for you to follow:

Step 1: Click the “Free Demo Account” button on the “Account” Navigation section.

Click the Free Demo Account button

Step 2: Fill in your full name, email and phone number in the form, and then click I'm not a robot for verification.

fill in required info

Step 3: After a simple registration, you can use the demo account and start trading.

Spreads & Commissions

Forex.com offers competitive spreads and low commissions on a wide range of trading instruments. Spreads for the EUR/USD currency pair is floating around 1.0 pips, which is very low compared to other brokers. You can find spreads on other pairs in the screenshot below:

Spread

Commissions vary by market: for most US stocks it is 1.8 cents per share, and 0.08% of the consideration for most UK, EU, and Asian stocks. The minimum commission rates are 10 of the stock's base currency.

Spreads & Commissions

Trading Platforms

FOREX.com offers a variety of trading platforms designed to cater to the diverse needs of its traders, from beginners to experienced market participants.

MetaTrader 4 (MT4): Widely recognized as the industry standard for forex trading, MT4 is favored for its advanced charting capabilities, automated trading features through Expert Advisors (EAs), and extensive back-testing environment. FOREX.com enhances MT4 with additional tools and research to optimize trading.

MetaTrader 5 (MT5): As the successor to MT4, MT5 offers all the admired features of MT4 but with additional capabilities such as more timeframes, more technical indicators, advanced charting tools, and supports trading in stocks, commodities, and futures markets along with forex.

TradingView: TradingView is a premium business utility that offers a free demo of its trade charting platform. The app is simple for beginners and effective for technical analysis experts.

Web Trading Platform: Accessible directly from a web browser without the need to download or install any software, this platform is built on HTML5 and offers a rich set of features including powerful charts, a suite of trading tools, and integrated trading strategies.

Mobile Trading Apps: FOREX.com provides mobile applications compatible with Android and iOS devices, allowing traders to manage their accounts on the go. These apps offer full trading capabilities, complex order types, and interactive charts.

Trading platform comparison

Deposit & Withdrawal

Forex.com offers several payment methods for depositing and withdrawing funds, such as credit card (Visa, Mastercard, Maestro), wire transfer, Skrill and Neteller. Deposits are processed within 24 hours, which means traders can start trading quickly. Withdrawals are also fast, usually taking 1-2 business days to process. It is important to note that Forex.com does not charge any additional fees for deposits or withdrawals, but payment service providers may impose their own fees.

Payment options

Education

Forex.com offers different educational resources for different traders. If you are just a beginner, you can choose “new to trading”, and then you can find beginner-friendly educational resources. If you are professional, you can choose “an experienced trader”, then you can go to more advanced educational resources. Academy, tutorials, webinars, and free demo accounts are all available to practice and improve trading skills.

Education

Education

Conclusion

In summary, Forex.com is a well-regulated and respected broker with a wide variety of trading instruments and easy-to-use trading platforms. With its solid reputation in the industry and its focus on security and protection of client funds, Forex.com is an attractive option for traders looking for a reliable and secure broker.

Frequently Asked Questions (FAQs)

Does Forex.com offer a demo account for practice?

Yes.

What is the minimum deposit to open an account at Forex.com?

100 dollars.

Does Forex.com charge commissions for trades?

Forex.com charges commissions for some trades, such as stock trading. However, it does not charge commissions in most markets. Instead, Forex.com earns profits through the spread between the bid and ask prices of assets.

Does Forex.com have any kind of training or education program for traders?

Yes, Forex.com offers a wide variety of educational resources for traders of all levels, including live webinars, seminars, trading guides, articles and educational videos.

What payment methods does Forex.com accept?

Forex.com accepts various payment methods, including credit and debit cards, bank transfers, as well as electronic payment systems such as Skrill and Neteller.

News

FOREX.com Partners with Kalshi for Event-Based Trading on US Election

NewsFOREX.com Partners with Kalshi for Event-Based Trading on US Election

2024-10-30 14:03

FOREX.com teams up with Kalshi to offer event-based trading on the US Presidential Election, blending political outcomes with market predictions. Find out more about this collaboration.

WikiFX
2024-10-30 14:03
News
FOREX.com Partners with Kalshi for Event-Based Trading on US Election
What are the safe regulated brokers for U.S. traders?

NewsWhat are the safe regulated brokers for U.S. traders?

2024-09-09 17:10

The United States is home to some of the largest and most liquid financial markets globally, with the forex market playing a significant role. The U.S. dollar is involved in 88% of all forex transactions worldwide, and the U.S. forex market is one of the most active, accounting for around 19% of daily forex transactions. For traders looking to enter this dynamic market, choosing a safe and regulated forex broker is crucial.

WikiFX
2024-09-09 17:10
News
What are the safe regulated brokers for U.S. traders?
FOREX.com Japan Confirms Connection Issues for Traders

NewsFOREX.com Japan Confirms Connection Issues for Traders

2024-07-19 18:01

FOREX.com Japan, the Japanese retail FX subsidiary of StoneX Group, has confirmed that some of its clients are experiencing issues connecting to their trading accounts. The broker has acknowledged the problem and is actively investigating the cause.

WikiFX
2024-07-19 18:01
News
FOREX.com Japan Confirms Connection Issues for Traders
WikiFX September Exposure: Brokers With Reported Complaints

ExposureWikiFX September Exposure: Brokers With Reported Complaints

2023-10-16 12:23

September's WikiFX report exposes questionable activities of online forex brokers, highlighting the importance of thorough research before investing. Learn about brokers receiving negative feedback and tips to ensure a safe trading experience. Stay informed and protect your investments.

WikiFX
2023-10-16 12:23
Exposure
WikiFX September Exposure: Brokers With Reported Complaints

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