FOREX.com Review

FOREX.com Review

Author
  • Website
  • Trading Platforms
  • Support

FOREX.com, founded in 1999, is a market leader in currency trading and related markets with over 200,000 traders around the world. FOREX.com’s parent company, GAIN Capital Holdings, Inc. is a global provider of online trading services. In the US, FOREX.com is regulated by the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC). They are also regulated in five other jurisdictions worldwide and maintain offices in New York, London, Tokyo, Hong Kong, Sydney and Seoul.

Platforms

There are three different trading platforms at Forex.com. Forex Trader Pro is a fully-customizable trading platform available via web, download and all major mobile operating systems.  Specifically designed for currency traders, the platform offers advanced trading tools and extensive research and analysis. Forex Trader Pro offers a choice of 50 currency pairs including gold and silver.
The MetaTrader 4 platform lets you choose among 49 currency pairs and delivers advanced management features and trading tools. Free EA hosting is available for eligible customers.
Forex.com offers traders their own GTX Direct trading platform, an independent and innovative ECN for institutions and professional traders managed by Gain Capital. With GTX Direct, eligible clients may take advantage of GTX’s diverse and deep liquidity and leverage GAIN Capital’s own prime brokerage relationships with major FX banks.  A minimum deposit of $100,000 is required for this platform.

Unlike other with most other brokers, FOREX.com does not offer a choice of different accounts within each platform. There is a Forex Trader Pro and a MetaTrader 4 account each requiring a minimum deposit of $500. You must click on the chat button in order to open a Premium account but no additional details about this account are provided on the site.
Each trading platform does offer a practice account with free $50,000, full access to the broker’s trading platforms and tools for 30 days.

Trading Tools

FOREX.com offers a wide choice of trading tools such as live analysis of the market and critical events as well as technical and fundamental analysis. Their FOREXInsider service allows you to tap into the company research team’s streaming commentary and insights and Pivot Points presents predictive indicators of support and resistance levels to guide you in setting entry and exit levels according to potential market movements.
To help build up your confidence, the FOREX.com learning center offers free tutorial videos on basic and advanced concepts of the Forex market. There is no need to login in to view these videos. Webinars are also offered with hands-on demonstration on key Forex concepts.

Features

As a market maker, FOREX.com is able to offer some of the tightest spreads in the market as low as 1.3 on EUR/GBP. Their live Forex spread sheets shows the constantly changing spreads on the most active currency pairs.
Chat support is constantly available and a chat box pops up immediately on most pages in order to answer any relevant questions about the topic at hand. Email support is responsive and informative.
Funding is accepted via bank transfers, credit cards, echeck and checks from a U.S. bank account. The website is available in English, Arabic, Chinese and Russian.
All in all, FOREX.com provides all the bells and whistles a Forex trader needs and navigating the website was smooth and simple.