Abstract：Forex.com is a major player in forex trading, providing various options including currencies, commodities, indices, and cryptocurrencies. Their platforms, like the popular MetaTrader 4 and MetaTrader 5, are available worldwide. Backed by robust regulation and a strong focus on security, Forex.com is a favored choice for professionals looking for an all-encompassing trading experience.
What Type of Investor Is Forex.com Suitable for?
Forex.com is a full-fledged broker suitable for both novice traders and experienced professionals. The demo account trading provided by Forex.com allows novice traders to learn how to trade while minimizing potential losses. Besides, Forex.com is one of the world's largest currency traders, offering more than 80 currency pairs. Additionally, Forex.com provides beginners with a wealth of learning resources and teaching videos. Beginners can quickly learn and master the basic knowledge of trading. What's more, Forex.com also provides professional traders with its exclusive trading tools, such as NinjaTrader, SMART Signals, Trading Central and Performance Analytics.
Forex.com Pros & Cons
✅Where Forex.com Shines:
Operate under a strong regulatory frame: Forex.com has strong regulatory endorsement. Forex.com is regulated by top-tier financial authorities, including ASIC, FCA, FSA, NFA, CIRO, and MAS. A strict regulatory system can protect the security of users' assets.
Provide a wide range of financial products: Forex.com investors provide more than 80 currency trading pairs, which is higher than most traders of the same type.
Provide demo trading accounts: Users can practice with demo accounts to refine their trading strategies without risking real assets. However, it should be noted that the demo account trading is valid for 90 days of risk-free trading with $50,000 in virtual funds
Wide range of educational resources: Forex.com offers a wide variety of tools and resources to help traders make informed decisions, including technical analysis, economic calendars, real-time news, free webinars and seminars to practice and improve trading skills.
Offers many unique trading tools: Forex.coms biggest advantage is the unique trading tools it offers, such as NinjaTrader, SMART Signals, Trading Central and Performance Analytics. These trading tools are suitable for different types of traders.
❌Where Forex.com Falls Short:
Few types of cryptocurrency trading: Forex.com offers fewer cryptocurrency trading services and cannot meet the needs of some cryptocurrency investment enthusiasts. Cryptocurrency investors need to look for a wider variety of trading platforms to trade on.
Inactivity fee charged: An inactivity fee of US$15 per month will be paid after the account is inactive for one year, which virtually increases the transaction costs of many investors and is a trading threshold for novice traders.
Is Forex.com Legit?
Forex.com is one of the most respected and trusted forex brokers in the foreign exchange trading industry. Founded in 2001, Forex.com is a global company licensed and regulated by several reputable regulatory authorities, including ASIC in Australia, FCA in the UK, FSA in Japan, NFA in the USA, CIRO in Canada, and MAS in Singapore.
Additionally, Forex.com offers negative balance protection on all of its trading accounts. This means that clients cannot lose more money than they have in their accounts, providing an additional layer of security and peace of mind in trading.
How to Trade with Forex.com?
Step 1: Register and Open an Account
- The user first finds the official link and clicks the “OPEN AN ACCOUNT” button on the homepage of the official website.
- Fill in your true personal information according to the navigation prompts.
- The account holder needs to provide legal identity information in his or her country for KYC verification.
- After successfully registering the account, fill in the bank card and other relevant information and inject funds into the account.
- After waiting for Forex.com's official review information to be successful, you can start trading.
Step 2: Learn Trading Skills and Prepare Before Trading
After successfully registering an account, investors should not rush into real trading and must first make some preparations before trading.
First of all, investors should be familiar with the trading platform provided by Forex.com and understand the functions of the trading platform.
Secondly, investors should browse and study the educational resources provided by Forex.com to deepen their understanding of the financial market and improve their trading skills.
Then, investors can use the demo account to trade before conducting real trading and improve their trading system during the simulated trading process. Note that the Forex.com demo account is only 90 days risk-free trading with $50,000 in virtual funds.
Finally, after completing the preparations before trading, users can choose their favorite targets for real trading.
Forex.com Trading Platform
Forex.com offers a variety of trading platforms to meet the needs of beginners to experienced market participants.
MetaTrader 4 (MT4)
Widely recognized as the industry standard for forex trading, MT4 is favored for its advanced charting capabilities, automated trading features through Expert Advisors (EAs), and extensive back-testing environment. Forex.com enhances MT4 with additional tools and research to optimize trading.
MetaTrader 5 (MT5)
As the successor to MT4, MT5 offers all the admired features of MT4 but with additional capabilities such as more timeframes, more technical indicators, advanced charting tools, and supports trading in stocks, commodities, and futures markets along with forex.
TradingView
When you trade your Forex.com account on TradingView.com, you benefit from sharing ideas with their community of over 30 million traders, investors, and analysts in addition to their industry-leading charts and tools. Whether you are new to trading or a seasoned investor, TradingView delivers a mission to help anyone succeed in financial markets.
Web Trading Platform
Accessible directly from a web browser without the need to download or install any software, this platform is built on HTML5 and offers a rich set of features including powerful charts, a suite of trading tools, and integrated trading strategies.
Mobile Trading Apps
Forex.com provides mobile applications compatible with Android and iOS devices, allowing traders to manage their accounts on the go. These apps offer full trading capabilities, complex order types, and interactive charts.
Forex.com Education
Forex.com has a wealth of educational resources and provides learning content suitable for any type of trader. Forex.com provides five learning and education sections, namely Trading Academy, Live Virtual Events, Video Tutorials, The Trader's Course, and Glossary.
Each section contains different content features, which are classified according to novice traders, intermediate traders and advanced traders. Traders classify, and investors choose appropriate learning materials based on their own characteristics.
In addition to this, Forex.com offers trader education courses organized by experience and skill level. Users can find beginner, intermediate and advanced courses directly on their website. The introductory course starts with an introduction to basic Forex concepts, while the advanced course covers trading strategies and risk management.
The other part is the news hot spot analysis provided by Forex.com. This section compiles the latest financial market news for investors and discusses and explains the impact of the news on the trading market to deepen investors' understanding of the financial market. It is a profound educational significance plate.
Forex.com Fees Review
Spreads & Commission (Trading Fees)
Non-trading Fees
Note:
- During times of high volatility and/or low liquidity, spreads may be higher than the typical and as low as spreads published on the website.
- Average daily Available Margin (Trading Resource) is calculated by taking the average of your available margin (trading resources) as of 5 PM ET each trading day during the prior month. The margin utilized for your open positions is not included.
- Interest will be posted within 15 business days of the following month. This promotion is void where prohibited or restricted by law and subject to all applicable federal, state and local laws and regulations.
- Balances between $10,000 and $500,000 will earn interest at 4.5% APY, while any additional balance in excess of $500,000 will earn interest at 1.5% APY.
- This promotion and APY are subject to change at any time without notice, as Forex.com periodically evaluate current interest rates on an ongoing basis. To be eligible, an account must be active during the calendar month. Active is defined as having placed at least one Qualifying Trade.
Forex.com Review on Products
Forex.com offers a wide range of trading products and services, depending on the region where the user is located and which regulated entity their account belongs to. Due to regulatory restrictions, Contracts for Difference (CFDs) are not available to users in the United States, but outside the United States, Forex.com offers traders more than 4,500 CFDs.
U.S. traders cannot trade spot metals such as gold and silver. Forex.com supports cryptocurrency trading via CFDs, but not direct trading of the underlying asset, such as buying Bitcoin. It is important to note that cryptocurrency CFDs are not available to UK retail traders or clients residing in the UK.
Overall, Forex.com has a rich product range and powerful foreign exchange trading options, especially suitable for users with diversified trading strategies. However, despite the platforms wide range of FX products, there are still some brokers that offer a wider product selection.
Forex.com Account Type
Standard Account
Ideal for traders looking for the traditional trading experience, Standard account offers competitive spreads, advanced trading platforms. Forex.com most popular account comes with clear, transparent pricing and superior trade execution speeds on a powerful, fully capable platform with a highly customizable layout. With no hidden fees, your only trading cost is the spread.
RAW Spread Account
For traders looking to access truly tight spreads - FX majors as low as 0.0 - with low commissions. Forex.com offer $5 USD commission per $100k USD traded in this unique trading account, featuring ultra-competitive spreads. Maintain exceptional trade execution quality that keeps you on top of the markets.
MetaTrader Account
Forex.com elevates your MT5 experience. Trade on the familiar platform but with access to dedicated trading tools exclusive to Forex.com. When you trade on your MT5 account with Forex.com, you're getting the most out of your trading potential.
Account Comparison
Compare to Similar Brokerages
FAQs
Is Forex.com suitable for beginners?
Yes. Forex.com has rich educational resources. It not only has basic knowledge of foreign exchange investment for novice investors but also provides a wealth of trading teaching videos. Novice traders can use the educational resources provided by the platform to quickly improve their trading skills. Forex.com also has simulated account trading. Novice traders can use simulated account trading to improve their trading system, deepen their understanding of the financial market, and improve their trading capabilities. Finally, Forex.com also has a strict regulatory system to ensure the safety of investors' assets.
Can I renew my demo account?
Demo accounts last for 90 days after sign-up. Afterwards, you will not be able to log in using the demo account credentials. Demo renewals are not available at this time.
How does Forex.com protect my money?
All customer deposits are kept separate from Forex.com operating funds and distributed across a global network of custodian banks. Every bank Forex.com uses holds an investment-grade rating and is monitored as per the guidelines set by the Risk Committee of StoneX Group Inc.s Board of Directors.
How much money do I need to open an account?
The minimum initial deposit required is at least 100 of your selected base currency. However, we recommend you deposit at least 1,000 to allow you more flexibility and better risk management when trading your account.
