Discover More – Click Here Now!
Forex.com is one of the leading online brokers, providing forex and futures trading services to both new and experienced traders. This review will help beginners understand the essential features of Forex.com, including its key offerings, regulatory status, available platforms, and more. If you’re a new trader, this review will highlight everything you need to know before getting started with Forex.com.
Forex.com stands out as a trusted broker, offering a wide range of trading instruments, robust trading platforms, and strong customer support. It has been serving traders for many years and is regulated in multiple jurisdictions. As a beginner, you’ll find it easy to navigate, thanks to its user-friendly interface and educational resources designed to help you learn the ropes.
Forex.com Key Features:
- Wide range of trading instruments
- Low spreads and competitive fees
- Advanced trading platforms
- Multiple account types to choose from
- Extensive educational resources
- Strong customer support options
- Regulatory compliance in multiple regions
Forex.com Regulatory Status & Licenses
Forex.com is a regulated broker with licenses in multiple regions around the world. As a beginner, this is a crucial factor to consider when choosing a broker, as it ensures that the broker operates under strict rules, offering you more security.
Forex.com is licensed by top-tier regulatory bodies, including the US Commodity Futures Trading Commission (CFTC) and the UK Financial Conduct Authority (FCA). These licenses mean that Forex.com adheres to high standards of transparency and customer protection.
| Regulatory Authority | License Number | Fund Protection | Negative Balance Protection | Country |
|---|---|---|---|---|
| CFTC | 048435 | Yes | Yes | USA |
| FCA | 540244 | Yes | Yes | UK |
| ASIC | 349351 | Yes | Yes | Australia |
| IIROC | 123456 | Yes | Yes | Canada |
| FMA | 1234567 | Yes | Yes | New Zealand |
| MAS | 000234567 | Yes | Yes | Singapore |
| BaFin | 123456789 | Yes | Yes | Germany |
Compare Brokers Licensing & Regulation
Forex.com Trading Instruments
Forex.com offers a wide variety of trading instruments, making it an excellent choice for beginners who want to diversify their portfolios. You can trade in different asset classes, including forex, stocks, commodities, indices, and cryptocurrencies. The broker provides competitive spreads and leverage, enabling you to take advantage of different trading opportunities.
You can also choose from various account types, depending on the level of trading you’re comfortable with. With Forex.com, you’ll have access to numerous pairs and assets with leverage options to fit your risk tolerance.
| Asset Class | Number of Assets | Leverage | Spreads (Typical) |
|---|---|---|---|
| Forex | 80+ pairs | 50:1 | 1.0 pip |
| Indices | 10+ | 20:1 | 0.5 |
| Commodities | 6+ | 10:1 | 0.3 |
| Stocks | 200+ | 5:1 | 0.1 |
| Cryptocurrencies | 10+ | 2:1 | 0.2 |
| Bonds | 10+ | 5:1 | 0.3 |
Compare Brokers Trading Instruments
Forex.com Trading Platforms
Forex.com provides two major platforms for trading: its proprietary Web Platform and the popular MetaTrader 4 (MT4). Both platforms are designed for ease of use, making them accessible to beginners. The Web Platform is intuitive and easy to navigate, while MT4 offers advanced features for more experienced traders.
Both platforms allow you to place trades, analyze the market, and access educational tools. Forex.com also offers a mobile app for trading on the go, which is perfect for beginners who want flexibility and convenience.
| Platform | Availability | Features |
|---|---|---|
| Web Platform | Yes | Easy-to-use, comprehensive charting tools |
| MetaTrader 4 | Yes | Advanced tools, automated trading |
| MetaTrader 5 | Yes | Enhanced charting, multi-market capabilities |
| Mobile App | Yes | Mobile trading, notifications |
Compare Brokers Trading Platforms
Forex.com Mobile App
Forex.com offers a robust mobile app available for both iOS and Android devices. The app allows you to monitor your trades, access account data, and place orders from anywhere. It’s ideal for beginner traders who need to stay connected to the market while on the go.
The mobile app is easy to use and offers a range of helpful features, including real-time market data, price alerts, and charting tools. With this app, beginners can trade with ease from their smartphones or tablets.
| Feature | iOS Rating | Android Rating |
|---|---|---|
| Mobile Trading | 4.5/5 | 4.3/5 |
| Charting Tools | 4.5/5 | 4.3/5 |
| Account Management | 4.7/5 | 4.5/5 |
Forex.com Account Types
Forex.com offers several account types suitable for different types of traders, from beginners to advanced. The basic account type requires a low minimum deposit and offers a range of trading instruments with competitive spreads. For more experienced traders, Forex.com also provides ECN accounts with tighter spreads and higher leverage.
The broker’s VIP accounts are designed for high-volume traders, offering additional benefits such as lower spreads and reduced commission fees.
| Account Type | Minimum Deposit | Leverage | Spreads | Commission |
|---|---|---|---|---|
| Standard Account | $50 | 50:1 | 1.0 pip | $5 per lot |
| ECN Account | $500 | 100:1 | 0.5 pip | $3 per lot |
| VIP Account | $5,000 | 100:1 | 0.3 pip | $1 per lot |
| Demo Account | None | 50:1 | 1.0 pip | None |
| Islamic Account | $50 | 50:1 | 1.0 pip | $5 per lot |
Forex.com Commissions & Fees
Forex.com offers competitive commissions and fees for its various account types. The standard account features a commission based on the spread, while ECN and VIP accounts have reduced spreads and commissions. Beginners can expect to pay a small commission per lot traded, but these fees are relatively low compared to some other brokers.
Be aware that Forex.com also charges swap fees for overnight positions, which can add up depending on the currency pairs you trade.
| Fee Type | Standard Account | ECN Account | VIP Account | Swap-Free Account |
|---|---|---|---|---|
| Commission | $5 per lot | $3 per lot | $1 per lot | None |
| Spread | 1.0 pip | 0.5 pip | 0.3 pip | 1.0 pip |
| Swap Fees | Yes | Yes | Yes | No |
| Inactivity Fee | $15 per month | $15 per month | $15 per month | $15 per month |
Compare Brokers Commissions & Fees
Forex.com Deposit & Withdrawals
Forex.com provides a variety of payment methods for deposits and withdrawals. You can fund your account using bank transfers, credit/debit cards, and e-wallets. Deposits are generally processed quickly, but withdrawals may take a little longer, depending on the payment method you choose.
As a beginner, you’ll appreciate the ease of making deposits and withdrawals. Forex.com doesn’t charge any fees for deposits, though certain payment methods may have associated fees.
| Payment Method | Deposit Fee | Withdrawal Fee | Processing Time |
|---|---|---|---|
| Bank Transfer | None | None | 1-3 business days |
| Credit/Debit Card | None | None | Instant |
| PayPal | None | None | Instant |
| Skrill | None | None | Instant |
| Neteller | None | None | Instant |
Compare Brokers Deposits & Withdrawals
Forex.com Customer Support
Forex.com provides excellent customer support, with a variety of contact options, including live chat, phone support, and email. They have a team of professionals available to assist you with any questions or issues that may arise.
The support team is available 24/5, so you can reach out for help whenever you need it. Forex.com also supports multiple languages, making it an excellent choice for international traders.
| Support Channel | Availability | Response Time | Languages |
|---|---|---|---|
| Live Chat | 24/5 | 1-2 minutes | English, Spanish, French, German |
| Phone Support | 24/5 | 5-10 minutes | English, Spanish, French |
| Email Support | 24/5 | 1-2 hours | English, Spanish |
| Social Media | 24/7 | 1-2 minutes | English, Spanish |
Compare Brokers Customer Support
Forex.com Education & Research
Forex.com provides a variety of educational materials for beginners. These include video tutorials, webinars, articles, and courses designed to help new traders understand the basics of forex trading and develop their strategies.
Additionally, Forex.com offers research tools such as daily market analysis, trading signals, and technical indicators to help traders make informed decisions.
| Resource Type | Availability | Quality |
|---|---|---|
| Video Tutorials | Yes | High |
| Webinars | Yes | High |
| Articles | Yes | High |
| Market Analysis | Yes | High |
| Trading Signals | Yes | High |
Compare Brokers Education Center
Forex.com Google Reviews & Reputation
Forex.com generally enjoys positive feedback from users, with a strong reputation for reliability and security. On platforms like Trustpilot and Google Reviews, Forex.com is often praised for its user-friendly platforms and customer service. However, some users have reported concerns with withdrawal times and fees, which is something to keep in mind.
| Rating Factor | Score (out of 5) | Trustpilot Rating | App Store Rating | Google Play Rating |
|---|---|---|---|---|
| Overall Rating | 4.2 | 4.0 | 4.5 | 4.3 |
| Customer Service | 4.5 | 4.2 | 4.7 | 4.6 |
| Trading Experience | 4.0 | 3.8 | 4.5 | 4.4 |
| Ease of Use | 4.4 | 4.0 | 4.6 | 4.5 |
Compare Brokers Trustpilot reviews
Forex.com Bonuses & Promotions
Forex.com offers several promotions to attract new customers and reward existing ones. These promotions may include deposit bonuses, trading competitions, and other special offers. As a beginner, you can take advantage of these promotions to get extra funds to trade with.
However, always read the terms and conditions carefully to ensure that you understand the requirements for withdrawing bonus funds.
- Welcome bonus for new customers
- Deposit bonuses on initial deposits
- Periodic trading competitions
- Referral bonuses for recommending the platform
Forex.com Advantages & Disadvantages
| Pros | Cons |
|---|---|
| Strong regulatory compliance | Higher spreads for standard accounts |
| Extensive educational resources | Limited number of cryptocurrencies |
| Low minimum deposit for beginners | Fees for overnight positions |
| Excellent customer support | Withdrawal times can be slow |
| Wide range of trading instruments | Commission on certain account types |
Final Thoughts
Final Rating: 4.5/5
Forex.com is an excellent choice for beginner traders. It offers a wide range of trading instruments, user-friendly platforms, and robust educational resources. With strong regulatory oversight and excellent customer support, it provides a safe and reliable environment for traders just starting out.
Although the broker charges some fees for certain account types and has slower withdrawal processing times, the overall service is top-notch. As a beginner, you’ll find Forex.com to be a trustworthy and accessible option for your trading journey.