Forex.com group includes 3 related companies.
Forex.com US - located in the USA, regulated by the Commodity Futures Trading Commission (CFTC).
Forex.com UK - located in the United Kingdom, regulated by the Financial Conduct Authority (FCA).
Forex.com JP - located in Japan, regulated by the Japan Financial Services Agency (JFSA).
Forex.com is also regulated by the IIROC in Canada and the CIMA in the Cayman Islands.
Be aware, UK and US companies have some significant trading restrictions because of regulatory authorities influence.
Forex.com group accepts clients from all over the world, excluding Singapore, New Zealand, Belarus, Iran, Yemen and some countries from the OFAC list.
Forex broker offers the following underlying assets for trading.
|60+ Currency Pairs||Based on major and minor world currencies.|
|8 Crypto Pairs||Based on Bitcoin, Bitcoin Cash, Ethereum, Ripple, Litecoin.|
|17 Indice CFDs||Based on baskets of different blue-chip stocks.|
|10 Metal CFDs||Based on Gold, Silver, Platinum and Palladium.|
|4 Energy CFDs||Based on Crude Oil (WTI, Brent), Heating Oil and Natural Gas.|
|5 Soft CFDs||Based on Corn, Cotton, Soybean, Sugar, Wheat.|
|70+ Stock CFDs||Based on shares of US and UK companies.|
As one of the earliest providers of online forex trading services to the retail market, Forex.com has a long and proud history dating back to 1999 as one of the pioneers in the industry. Partly thanks to this, Forex.com has over the years managed to become one of the biggest and best-known brokers out there.
Forex.com is owned by GAIN Capital Holdings, Inc., a publicly traded company based out of New Jersey in the US. Although the company is headquartered in the US, it serves clients all over the world and earns more than half of its revenue from outside the United States.
Although Forex.com offers a wide range of assets to trade for international users, the options for US-based traders are limited to forex, precious metals, and futures. In the UK, however, users can also choose to trade in CFDs based on indices, shares, commodities, and cryptocurrencies. In Canada, traders can choose from a variety of forex pairs in addition to CFDs based on commodities and equity indices, but without the option of trading cryptocurrency-based CFDs for now.
In terms of trading platforms, Forex.com first and foremost offers its traders a proprietary desktop-based platform called the “Advanced Trading Platform.” And this is indeed a more advanced platform, featuring a range of sophisticated technical analysis tools, more than 100 different technical indicators, as well as a good selection of integrated trading strategies with defined entry & exit points. What’s more is that the platform also allows users to develop their own trading strategies, scripted in C#, .NET, and Visual Basic, which is something only the most advanced trading platforms offer.
Additionally, Forex.com also offers the popular and well-established MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which should already be familiar for most traders out there. Interestingly, Forex.com even claims to be the largest MetaTrader broker in the world by the number of active servers, which makes sense considering this broker’s long history strong position in the industry.
Lastly, Forex.com also allows its traders to connect their account to the very good browser-based charting platform known as TradingView, thus also offering users a cutting-edge web-based trading platform. As is expected these days, charting and account information is also accessible on mobile through a dedicated mobile app.
When it comes to its regulatory compliance, Forex.com is fully regulated as part of GAIN Capital Holdings in the US by the National Futures Association (NFA) and the renowned Commodity Futures Trading Commission (CFTC). Outside of the US, GAIN Capital and Forex.com is regulated in the UK, Canada, and Japan, in addition to having an offshore license in the Cayman Islands for international users. In Australia, Forex.com is no longer operating as an independent brand, and is instead part of the City Index brand.
The company’s regulatory record with the NFA shows that it has been fined twice for incidents categorized as “general conduct” and “sales practice” since it became an NFA member in 2004. Other than those two incidents, the company has a clean regulatory record as far as we are aware.
Deposits and withdrawals with Forex.com generally work smoothly with very few reported cases of traders having trouble withdrawing their funds. Further, the minimum deposit is set to 50 units of the trader’s selected base currency. Withdrawals can also be carried out easily by submitting a request through the trader’s online user account. Once a withdrawal request has been submitted, the broker promises that funds will be returned to the account they originated from within 48 hours.
Forex.com provides several options for users who need help with any issues they may have. The website offers an extensive FAQ section that answers most questions in a very straightforward way. In addition, video tutorials on how to get started with its various trading platforms have been made available online. For urgent issues that require immediate attention, however, traders are always welcome to contact client support via designated phone numbers for each country the broker is present in.
However, with a very well-designed website that is incredibly easy to navigate, Forex.com manages to present all relevant information to both new and existing users in a clear and concise way. Thanks to this, there shouldn’t be much of a need to contact customer support for routine matters.
Overall, Forex.com represents a solid brand in the industry that has been around for many years. Being fully regulated in both the US and several other countries, the broker has proved that it operates in a professional manner, giving clients the peace of mind they need.
There are pros and cons, but Forex.com is still one of the best US-based brokers in my opinion.
Terrible at finding basic info on the sight like margin etc. No trailing stops.
Forex.com is a Market Maker. They also manipulate the platform in regard to your stop-loss.... If ya put a position without a stop-loss verse putting one in, ya have half a chance of the position that is placed won't be manipulated with "stop loss hunting." It's very hard to prove unless your videoing your screen constantly to see how they hit your stop loss... Or still get ya with slippage... Enjoy.