69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
TRADE NOW - Minimum Trade Deposit £500
Forex.com is a global market leader in online retail trading. The company was established in 1999, and its parent company is none other than GAIN Capital Holdings Inc. It offers traders clear and competitive pricing, exceptional trade executions, allow you to trade the world’s currency (and cryptocurrency) markets along with the most popular index, share, and commodity CFDs using a choice of powerful trading platforms for desktops, web browser, and mobile devices.
The company offers its traders 24/5 customer support, and a host of educational materials, a well as tight spreads as low as 1.4. You can trade over eighty currency pairs without ever paying any commission.
Regulations
The forex broker is authorised and regulated by the Financial Conduct Authority (FCA) under Register Number 113942, and its parent company (GAIN Capital UK Ltd.) is registered in England and Wales (Company No. 1761813).
Reliability
The company is not only licensed in the UK by the FCA (Financial Conduct Authority), but also by ASIC, IIROC, FSA, SFC, CFTC, NFA, and CIMA for customers in Canada, Hong Kong, and Australia.
Its parent company (GAIN Capital Holdings Inc.) also operates City Index.
In accordance with FCA rules, clients’ monies are held in segregated client bank accounts. Furthermore, if they were to cease trading or become insolvent, clients may be compensated up to £50,000 by the Financial Services Compensation Scheme (FSCS).
Trading Platforms
Forex.com offers a variety of downloadable, browser-based and mobile trading platforms.
Advanced Trading Platform
The Advanced Trading Platform is a desktop platform, which offers Forex.com’s most sophisticated trading features including advanced charting, integrated trading strategies, and professional analytical tools.
Web Trading
The company’s high-performance web trading platform works with all browsers on Windows and Mac and offers advanced charting features, and integrated news and market analysis.
MetaTrader 4
The MetaTrader 4 platform boasts powerful tools and features and is also highly customisable. MT4 gives you access to forty-five Forex markets and over thirty types of CDs.
Mobile Platform
The company’s mobile trading apps are available for both Android and iOS. They come with real-time trade and order alerts, integrated fund management, advanced charting and analysis tools, and full-featured trading and advanced risk management options.
Account Types
• There are two types of Real Money trading accounts, plus the option to open a Demo Account.
A Demo Account offers you thirty days’ free access to the trading platforms.
• You can open a Standard Trading Account with as little as £500, although to gain access to the full range of instruments, it’s recommended that you deposit £3,000.
• You can open a Premium Trading Account with a deposit of £25,000 or more.
• If you’re an experienced trader, you may qualify for a Professional Trader account. This type of account allows you to take advantage of dedicated one-on-one support, earn cash rebates of up to $20 per million traded, and trade with low margin rates that are exclusively available to professional clients.
Cryptocurrencies Trading
You can trade spot Ethereum, Ripple, Litecoin, and Bitcoin with low margins, fixed spreads, reliable trade executions, and competitive financing and. Please note that cryptocurrencies are not available on the MetaTrader 4 platform.
When you choose to trade cryptocurrencies, you can hold long or short positions, take a position without significant investment, and speculate on the volatility of cryptos without taking ownership.
Commissions and Spreads
The company doesn’t charge commission. However, competitive spreads are applied to the trading prices. Spreads are as low as 1.2 pips.
Deposits and Withdrawals Options
Making deposits and withdrawals is easy, and you can choose from the following payment options:
• Visa
• MasterCard
• Wire Transfer
The minimum amount that you must deposit to begin Forex trading is £500. There are no minimum or maximum withdrawal amounts. Withdrawal requests take an average of 48 hours to process.
TRADE NOW - Minimum Trade Deposit £500
69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Customer Support
Customer support is available via live chat, email, and telephone, 24 hours a day from Monday to Friday.
Support Telephone: 0800 032 1948
Support Email: [email protected]
Social Media Profiles: Facebook, Twitter, YouTube
Q&A
• Is the site regulated?
Yes by the Financial Conduct Authority (FCA). Other subsidiaries operate under the regulations of ASIC, IIROC, FSA, SFC, CFTC, NFA, and CIMA.
• How does Forex.com make money?
The company is compensated via spreads, as well as commissions for equity CFDs.
• How to deposit
You can deposit funds into your account using Visa, MasterCard or Wire Transfer.
• How to withdraw
The withdrawal methods are the same as the deposit methods. Withdrawal processing times are typically 48 hours.
• How to open an account
To open a real money account, click the link titled “Open an Account” at the top of the homepage, and choose either MetaTrader 4 or the FOREX.com Platform. To open a demo account, scroll down to the middle of the homepage, and click “Sign up for a demo account”. In either instance, you will subsequently be required to follow the on-screen instructions to complete the registration process.
• Is Forex.com reliable?
Yes. The company has been operating since 1999, and its parent company (GAIN Capital Holdings Inc.) is listed on the New York Stock Exchange. It is also regulated in Australia, Canada, and Hong Kong.
• Does Forex.com use MetaTrader?
Yes. MetaTrader 4 is one of the software platforms that traders can choose to use. There is also the ForexTrader PRO web-based trading platform and mobile apps for iOS and Android devices.
• What is Forex.com’s leverage?
The maximum leverage available is 1:50.
Our Conclusion
Forex.com is one of the biggest names in the Forex retail market, and it has an excellent reputation for its superior customer service, advanced trading platforms and tools, and educational materials. The option to open a demo account is the perfect opportunity for those new to trading online, and if you’re looking to speculate or trade on cryptocurrencies, there are 4 different cryptocurrencies on offer.
