FOREX.com is a, part of GAIN Capital Holdings, was launched in 2001 and is a well-established worldwide online broker that caters to people looking to trade the retail FX and CFD markets.
StoneX Group Inc. purchased GAIN Capital Holdings, a conglomerate that comprises City Index, an online CFD and spread betting provider, and Daniels Trading, a futures advice trading business, in February 2020. StoneX Group Inc.
(NASDAQ: SNEX) promotes that it links “clients to global markets across asset classes through institutional-grade platforms, end-to-end clearing and execution, and high-touch expertise.”
|Trading Platform||Forex Trading Review|
|Regulated||NFA, CFTC, FCA|
|Trading Platforms||Web, mobile, and Trading Central|
|Assets||Forex, Stocks, Commodities, Indices, Bonds, ETFs, Cryptocurrencies, Futures,|
FOREX.com’s educational courses are up to industry standards and well-organized.
Clients can access information based on their degree of experience or also by theme.
One can access all information on the website except topics on “technical analysis.” Client experience is organized into three levels: beginner, intermediate, and advanced.
It has subjects such as market essentials, including fundamental and technical analysis, and risk management.
There is also a specific vocabulary accessible. New investors will find useful background material but depend entirely on FOREX.com’s education to become market adept.
The content covers all of the essential issues that a novice should know.
Here are the Forex.Com features:
- It has low forex fees
- You get access to diverse technical tools at Forex.Com
- It comes with a great currency pairs variety
FOREX.com’s trading systems cater to busy day traders and the rare longer-term trader.
Clients have the option of using the downloaded advanced trading platform or MetaTrader 4 (MT4) for a desktop experience.
Or else the web trader for a browser-based trading experience, or the FOREX.com or MT4 mobile app for trading on portable smart devices.
Traders may use the platforms to view charts, economic calendars, news, positions, trading signals, and market analysis, etc from FOREX.com specialists.
The platforms have a few disadvantages. There are enough indicators and sketching tools to satisfy the most ardent technical analyst.
And also the platforms are practical enough to make quick transactions if necessary.
TradingView provides the charting package, which is the most spectacular component of the web-based platform.
Using the online trader or the downloadable advanced trading tool is simple.
Clients may also trade straight from charts by right-clicking and choosing “trade” or on the “buy” and “sell” buttons.
This opens an order window in which you can enter the entry, stop loss, and profit objectives. You can also activate one-click trading for quick transaction execution.
FOREX.com’s market research and insights are comparable to industry standards, and they aim to link traders to the markets.
Trading Central, a third-party vendor that provides technical analysis reports as well as an economic calendar, Reuters news feed, and bespoke news and analysis market-wrap articles, is available on FOREX.com’s platform.
All of its trading platforms also include a margin calculator and various trading and charting tools.
The client can also get the broker’s “premium” and “pro” accounts tailored to their needs.
What differentiates Forex.Com from others?
Following are the facts that differentiate Forex.Com from others:
- You can do trading in multiple markets on this single platform
- It comes with advanced charting
- Performance analytics is free for live account holders at Forex.Com
Our experience with Forex.Com
It has not been a great experience using Forex.Com for trading. Doubtlessly it does come with quite advanced trading features and tools.
You have to have knowledge about trading if you want to use Forex.Com.
The user display of Forex.Com is not great and it has high stock CFD fees. Don’t use it unless you are pro at trading.
Let’s compare Forex.Com with other similar services
Forex.Com vs. Pepperstone – Australian forex and CFD broker
Pepperstone – Australian forex and CFD broker has a fast execution rate of 99.6% and no desk dealing.
It has powerful platforms where you can do trading. It has been registered by ASIC.
You can enjoy low spreads as low as 0.0pips^. You won’t be getting these services at Forex.com.
Forex.com does have 23 international regulators and is a low-risk trading platform.
Forex.Com vs. IC Markets – Global forex broker
Forex.Com comes with less risk rate. You can trust Forex.Com for trading because it has 23 international regulators across 39 brokers.
So, it is a low-risk trading platform. It doesn’t offer social or copy trading that IC Markets – A global forex broker offers.
Forex.Com vs FXCM – Global forex broker
Both Forex.Com and FXCM – Global forex broker has a low-risk trading rate.
Forex.com has 23 international regulators and a trust score of 99 out of 99. Whereas FXCM – Global forex broker has a trust score of 93 out of 99.
From 10 a.m. ET on Sunday until 5 p.m. ET on Friday, clients may contact FOREX.com through various channels, including online chat and live phone assistance.
Although the FAQs and online customer help were adequate, repeated attempts to contact through “live chat” were fruitless.
They do not provide social media help, but they have social media profiles to provide market analyses and corporate information.
Phone assistance is the quickest way to get answers from a live person. At the start of the call, there is a tiny menu to pick from.
Wait times can vary depending on call demand, but you should anticipate waiting several minutes before speaking with a person.
Email help is available for more in-depth issues, but expect a response within one to three business days.
FOREX.com is regulated in various countries, but the goods offered differ from country to country.
CFDs, for example, are not available to US clients but are available to clients outside the US. FOREX.com is a CFTC-registered FCM and RFED and a member of the NFA.
GAIN Capital UK Ltd. is also approved and regulated by the Financial Conduct Authority in the United Kingdom.
The company is governed globally by IIROC, ASIC, MAS, FSA, and CIMA. Client monies are kept separate from FOREX.com finances, which helps protect clients’ money if the firm runs into financial difficulties.
Clients in the UK/European Union receive further asset protection of up to £85,000 under the Financial Services Compensation Scheme (FSCS).
In contrast, Canadian clients get protection from the Canadian Investor Protection Fund.
Clients in the United States are not as lucky, because the corporation offers no supplementary insurance to protect their assets.
FOREX.com provides negative balance protection, a requirement of ESMA laws. It entered into effect in 2018 and guaranteed stop losses for its U.K./E.U. Clients for an extra cost.
FOREX.com is an online broker that caters to all sorts of traders. Still, its emphasis on rapid, dependable execution makes it a suitable choice for the high-volume trader.
The broker provides access to a wide range of financial products at industry-standard such as spreads and commissions and several account types, different user interfaces, and instructional and research resources.
Customer support is available and acceptable, but poor website upkeep demonstrates a lack of attention to detail.
The fact that FOREX.com is NFA/CFTC/FCA-regulated gives legitimacy, emphasizing the company’s reputation as a worldwide online broker.
However, the discrepancy in not giving negative balance protection and guaranteed stop losses in the United States is concerning.
Given that the former provides clients with peace and the latter, credible risk management tool in turbulent market situations.
What is the difference between the FOREX.com platform and the MetaTrader platform?
The FOREX.com platform is a feature-rich, completely customizable trading platform that offers a comprehensive range of mobile options. It also trades 84 currencies, 220+ stocks, 17 equity indexes, ten metals, and 11 commodities. Our FOREX.com platform provides clients access to our Performance Analytics tool. It provides deeper insights into their trading activity and prior performance.
MetaQuotes designed the MetaTrader 4 platform; however, our MetaTrader 4 platform has integrated pattern recognition software and other trading features. On the MetaTrader 4 platform, clients may trade things such as 84 currencies, 17 equities indices, ten metals, and seven commodities, and the platform itself allows clients to load third-party software, such as custom indicators and Expert Advisors, to help with trading.
How is my money at Forex.com protected?
All retail customer money is stored in segregated client money accounts. In compliance with the Financial Conduct Authority (FCA) requirements on client funds. Forex.com keeps all client funds in top-tier banks and also has trust letters in place with each of these institutions to guarantee that our customer funds are kept separate from the bank’s assets. We never engage in proprietary trading and utilize our funds to hedge client bets. Clients may also be eligible for the Financial Services Compensation Scheme, which provides up to £50,000 compensation if a company falls bankrupt or stops operations.