It is inevitable for your safety to read the broker review before trading with the broker. You can find the Forex.com review in detail below.
FOREX.com is regarded as a minimal risk platform and has a perfect Trust Score. FOREX.com is a publicly-traded corporation that doesn’t run a bank and is regulated by 4 top-tier highly trusted regulators, 1 tier-2 average trust regulator, and 1 tier-3 low trust regulator.
Forex.com Review – Investment Options
The goods and services offered to the investors at FOREX.com may vary depending on the user’s location and the organization that owns your account. CFDs, for instance, are still not available in the United States due to laws, although FOREX.com provides over 4,500 CFDs beyond the United States. In addition, FOREX.com currently offers knock-out options in Singapore, Australia, and Japan.
Crypto investing is offered via CFDs and not through buying and selling the underlying asset. Please keep in mind that cryptocurrency CFDs aren’t offered to retail traders or United kingdom inhabitants through any brokerage firm’s United Kingdom company.
The list below outlines the various investment packages accessible on FOREX.com.
- A total of 4500 Tradeable Symbols
- A total of 91 Forex Pairs
- Forex Trading
- CFD Trading
- Cryptocurrency (CFD)
Forex.com Review – Fees
While the company provides several execution techniques, 3 account choices, and accessible execution data, it is a bit pricier in most circumstances than that of the general industry.
The Standard account is the sole alternative for MT customers, and it is not the preferred choice. According to the usual spread statistics reported by the company, average spreads on the euro and dollar currency pairs are higher at 1.4 pips. Overall, investors looking for the advantages of market-maker execution and prepared to pay extra for a greater spread will opt for FOREX.com’s Standard membership.
The DMA account, which is accessible worldwide and it provides agency execution and the biggest probable discounts.
Throughout August of 2020, the average spreads on this membership plan were 0.03 pips for the euro and US dollar pair, for a sum of 1.5 pips upon including the round-turn fee equal to1.2 pips.
Until you buy and sell more than a hundred million dollars each month, the effective spread lowers to 1.1 pips in the second tier, the effective all-in cost is virtually equal to the base tier in the Commission account. However, traders with more than $2 billion in monthly turnover (sixth tier) would have effective spreads of 0.7 pips, equivalent to the offerings of IC Markets and Tickmill.
The Commission account, which is only available in the United States, is also linked to the company’s own trading platforms, demands a $10,000 payment as well as at least $25 million in monthly turnover. It is intended for moderate to high quantity traders who want to take advantage of the company’s AT (Active Trader) program.
Forex.com Review – Trading Instruments
FOREX.com offers FX traders all the things they require to trade efficiently, and more. There seem to be numerous alternatives accessible, including the broker’s proprietary Advanced Trading pc and Web Trading platform, as well as the whole MT suite, MT4, and MT5.
- Advanced Trading, is particularly fit for experienced traders and includes a powerful charts system filled with a huge range of technical signals, editing tools, more than 100 pre-defined automatic methods. Trading Central powers the technical analysis and analysis instruments, which include the Analyst Views, Market Buzz, and Technical Insight modules. The interface was well-designed and user-friendly, despite the fact that it was packed with functionality. In contrast, the AT platform is the most similar to FXCM’s proprietary platform.
- The company’s Web Trading Platform, which is particularly fit for amateur traders, allows for the user to explore markets easily, do study, and execute orders. TradingView powers the graphs, which include approximately a hundred indicators, 14 timeframes, and 10 different charting formats.
However, making a new arrangement can be time-consuming because windows don’t automatically re-arrange, and it can rapidly get messy. Apart from that little distinction, there seem to be sophisticated order sorts and capabilities like the “close all” option, and the option to select a price tolerance for executions, in addition to the absence of previously defined layouts.
Web trading offers a great experience for users. Even though it takes extra loading every time, charts can be stored and can be used as a standard model for future charts.
- While its platform package itself is powerful and scored Top of The line (top 7) in the assessment, the brokerage additionally provides the full MT suite, which includes both MetaTrader 4 and MetaTrader 5. It’s important to mention that Forex.com’s MetaTrader 5 platform only has 600 tools, opposed to over 4500 on its non-MT platforms.
Analysis&Research
FOREX.com conducts an amazing job of unifying its information inside the Advanced Trading platform and organizing it so that traders can readily access it.
The platform publishes a wide range of high-quality written material every day, covering a wide range of markets and sectors, as well as weekly pieces like its “Week Ahead” segments. Every day, there seem to be numerous pieces from the company’s in-house researchers, as well as material from third-party vendors.
Interestingly, the platform has almost zero market-based information in video format. Dabbling with video, such as syndicating written material into clips, could allow the platform to connect with a larger audience.
Forex.com Review – Teaching Materials
FOREX.com provides approximately 100 written pieces on FX trading that are neatly grouped by level of experience. The instructional material is divided into 19 basic articles, 34 midrange pieces, and 17 advanced topics. Altogether, the articles are of decent quality and similar to the industry norm, but not really the finest in class.
The platform does not provide a wide spectrum of instructional video content, apart from the numerous platform training videos on its YouTube page.
In General
FOREX.com is a reputable FX brokerage firm that stands out for its diverse product range, superb platform features and trading instruments, and availability of in-house and different market analyses.
Even though it is a bit pricier than most, the platform provides a terrific service to FX traders from all skill levels.
See also: Pepperstone Review
