FOREX.com broker is an old broker with a great reputation in forex trading. The broker was founded in 1999 and is regulated by many authorities over the world. FOREX.com is owned by GAIN Capital Holdings.

FOREX.com offers a variety of trading platforms that are exclusive for FOREX.com clients. You can trade different instruments as Forex currency pairs, Stocks, Commodities, Cryptocurrencies, etc.

During this review, we will go through the spreads, account types, commissions, deposit & withdrawal methods, etc.

Regulation

FOREX.com is registered as the Cayman Islands Monetary Authority (CIMA). Other regulators of our affiliates include:

  • Financial Conduct Authority (FCA) in the UK
  • Financial Services Authority (FSA) in Japan
  • Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA) in the US
  • Investment Industry Regulatory Organization of Canada (IIROC)
  • Australian Services and Investments Commission (ASIC)

Account Types

With FOREX.com, you can trade on 3 account types, Standard Account, Commission Account, and Direct Market Access Account. Each account type offers different spreads, commissions, minimum deposit amounts, etc.

Standard Account

The standard account it’s suited for normal forex traders. It offers 15% cash rebates when you trade and fast execution to open positions in forex trading. The spreads start from 0.8 pips in major currency pairs like EUR/USD, AUD/USD, USD/JPY.

You can use various deposit and withdrawal payment methods. The platform that can be used with the Standard account, is the MetaTrader platform that’s available on Desktop and Mobile.

Commission Account

The Commission account offers tighter spreads on major forex currency pairs. You can earn a $10 rebate that’s calculated based on the monthly volume of trading. It offers different payment method and you can use the exclusive desktop platform. The platform can be used to trade the foreign exchange market on Desktops and Mobile devices.

Direct Market Access Account

The other account type, DMA Trading Account, it’s suited for experienced traders. Spreads start from 0.1 pips on major pairs as EUR/USD, USD/JPY, EUR/JPY, AUD/USD, etc. You can earn up to a 67% reduction from the standard commission with your trading volume-based monthly. The desktop platform that can be used with the DMA Account is the new advanced platform on desktop and mobile.

Spreads

As we mentioned in the account types, the spreads start as low as 0.2 pips. The spreads on the major currency pairs are:

  • AUD/USD – Spreads start from 0.8 pips
  • EUR/USD – Spreads start from 1 pip
  • GBP/USD – Spreads start from 1.1 pips
  • USD/JPY – Spreads start from 1 pip
  • USD/CAD – Spreads start from 1.3 pips

Commission

FOREX.com charges commission only with the Commission Account and DMA Account. The Standard account can be traded without any commission. For example, if you open an order with a volume of 2 lots on EUR/USD, a $10 commission and $2 spread cost would be charged.

  • $5 commission charged for 1 lot – Commission and DMA Account
  • $10 commission charged for 2 lots – Commission and DMA Account

Trading Instruments

FOREX.com offers thousands of trading instruments to trade the forex market on their platforms. The list of the instruments includes:

  • 80+ Forex currency pairs
  • 4,500+ Stocks
  • 10+ Oil and Commodities
  • 8 Cryptocurrencies
  • 15 Indices

Trading Platforms

trading platforms forex

Compared to the other forex brokers, FOREX.com besides the MetaTrader platform offers a new trading platform. The trading platform it’s available only for Commission and DMA Accounts. The platform is more advanced than MetaTrader versions and can be used in currency trading.

As it offers a full trading experience, with superior trade executions, many trader tools. You can use the new trading platform on Desktops and Mobile devices.

However, not all the trading platforms offer all the trading instruments to trade. MetaTrader 4 is the most popular trading platform that’s widely known, but you cannot trade the Shares or Cryptocurrencies with the MetaTrader 4 on Forex.COM.

MetaTrader 5 supports all the trading instruments and offer some more advanced features and tool than MetaTrader 4.

As a summary, on FOREX.com, you can trade with:

  • Advanced Trading Platform
  • MetaTrader 4
  • MetaTrader 5

Deposit

To deposit funds for trading, you can use a Debit Card or Credit Card. It also allows depositing with, eCheck or Wire Transfer and there are no fees charged for all deposit methods. You can deposit a minimum of $50 with a Debit or Credit Card and a maximum of $10,000.

Deposit methods with Check or Bank Wire Transfer can take 1-2 business days. For deposit methods with Debit or Credit Cards, the processing time is instant.

  • eCheck
  • Debit and Credit Cards (Visa & MasterCard)
  • Bank Wire Transfer

Withdrawal

Most of the withdrawal transactions are processed in 1-2 business days. There are no fees charged for withdrawals, but additional fees may be applied by the banks.

The minimum withdrawal amount you can request is $100. The available method to withdraw funds are:

  • Debit and Credit Cards (Visa & MasterCard)
  • Bank Wire Transfer

Support

The support team can be contacted through

  • Live Chat
  • Phone Number
  • Email

The live chat team is available to assist you 24 hours a day from 10 am Sunday to 5 pm Friday. But if you cannot reach the live chat, then you can send them an email that can take 1-2 business days to reply or call them via phone.

You also can use the Frequently Asked Questions (FAQ) to get more details about the FOREX.com company and its services.

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