Forex.com is a trading name of GAIN Capital – Forex.com UK Limited, which is incorporated into a large US holding company GAIN Capital Holdings, Inc. Currently the holding is one of the most powerful participants of the global foreign exchange market.
Forex.com was established in 1999 and holds a firm leading position among Forex brokers at the moment.
The company is offering its customers to trade 50 currency pairs, commodity and foreign exchange options; and futures as well as CFD and precious metals.
Its customers are traders from 180 countries of the world.
Deposits and Withdrawals
There are the following deposit and withdrawal options at Forex.com:
- Bank transfer;
- Visa, MasterCard;
All payments are processed within 1-2 banking days.
Withdrawals are made in any of the above ways. The currency and the method of withdrawal do not depend on those of the initial deposit.
Forex.com is authorized and regulated by the following agencies:
- Financial Conduct Authority of the UK (FCA);
- Securities and Futures Commission (SFC) in HK;
- Australian Securities and Investments Commission (ASIC);
- Financial Services Agency in Japan;
- National Futures Association (NFA) and Securities and Exchange Commission (SEC) of the USA;
- Investment Industry Regulatory Organization of Canada (IIROC).
Numerous prizes and awards of different international financial organizations prove high reputation and reliability of Forex.com. These are as follows:
- GAIN Capital FOREX.com was voted Best Forex Broker by the readers of World Finance;
- Forex.com was chosen by the readers of MoneyAM as Best Online FX Provider in 2011;
- FOREX.com was voted Best Forex Broker in the USA 2013 at the ForexExpo Awards in Moscow.
- GAIN Capital Group ranked at the top among 500 companies with the highest growth rates in North America.
Forex.com team was always eager to develop new areas of activity, introduce new technologies (both trading and information ones) aimed at not only improving the quality of services but also protecting customer assets. This is one of the first Forex brokers that started to use segregated accounts allowing to keep customer funds separate from the broker funds. Such segregation is additional insurance for the customer.
Forex.com is paying great attention to insurance issues. In particular, its clients can use multiple hedging strategies (risk management), with many of them developed by the company specialists.
Bonuses and Promotions
Customers of Forex.com can get additional bonuses.
Referring a friend to FOREX.com is not easy. There are the following conditions to be reached so that the bonus is credited to the customer account:
- The “friend” must open a live trading account and make at least 5 standard trades of at least 3 lots (within 90 days from the initial deposit).
- The “friend”, who introduced a new customer that opened a live account and deposited no less than $1 000 USD, must also make 5 trades of at least 3 lots within 90 days.
The second bonus program is similar to the first one. A customer gets an additional bonus for the initial deposit. The bonus of 5% is credited for a deposit from $1 000 to $200 000 USD. Thus, the maximum bonus could be $10 000 USD.
For the bonus to be credited to the customer’s trading account, it must make a minimum number of qualifying transactions of a total size of 1/10 lot within 180 days from making a deposit.
Trading Accounts Types
Forex.com is offering two types of trading accounts to its customers: Mini and Standard. The accounts differ in the following parameters:
- Minimum deposit:
- Mini – $250 USD;
- Standard – $2 500 USD.
- Minimum transaction size:
- Mini – 0.1 lot;
- Standard – 1 lot.
All other parameters are identical:
- Variable spread;
- Leverage – 1:50;
- Medium spread – 1.5 pips;
- Minimum spread – 1 pip;
- Five-digit quotes;
- 46 currency pairs.
Apart from the above live trading accounts customers can set up demo accounts.
The company customers can open PAMM accounts of two types: manager’s account and investor’s account. The differentiation is to protect investor’s funds from manager’s dishonesty. The manager’s account does not allow to withdraw funds. At the same time, an investor can conduct any trade operations with its assets.
Trading Platforms Types
Forex.com offers its customers to trade on the following trading platforms:
- MetaTrader 4. This is the most popular trading platform among Forex traders of the world.
- Tradable. The platform allows to trade currency pairs, CFD and precious metals.
- ForexTrader Pro. The platform was developed by GAIN Capital Holdings, Inc. It is not regarded as the best trading platform only because it appeared later than MT4. ForexTrader platform was selected as the 2008 Best Retail Platform by the readers of Profit & Loss magazine. It was voted Best Arabic FX Platform at the Saudi Money Expo 2012 in Saudi Arabia.
- FOREXTrader – for US traders.
Forex.com targets a wide audience of customers. Its research and information catalogues on the website contain plenty of information useful for both beginner and experienced traders.
Customer support service follows the same principles. Getting in touch with the support center, a customer can receive detailed advice in the following languages:
There are the following means of contacting customer service that is working 24/5:
- Multiline phone;
- Call Back;
- Live chat;
Communicative highly professional experts of the company will not only answer any question but also assist in solving problems.
Pros of Trading with Forex.com
The main advantage of the company is absolutely transparent pricing. Stable partnership relations with largest brokers and market makers let it offer competitive (in some cases even unique) prices to its clients. The entire pricing process is available to a registered customer, who has its customer room on the company website.
The company specialists developed training programs for beginner traders and those who want to improve their trading skills. The tutorials allow to achieve good results is mastering Forex trading within quite a short period of time.
Somewhat complicated registration procedure is considered as a disadvantage. This is characteristic for all big brokerage companies.
Zaroom: I’ve been working with the company for long. It’s not perfect but there were no money withdraw issues at all. Excellent professional staff, always helpful. Great platforms, there is everything you need for successful trading.
Kate: First of all I would like to express gratitude to customer support of Forex.com. No matter what I asked, I always got a full and clear reply. It’s a pleasure to work. As for trading itself, I have nothing to reproach the broker for over almost two years of my work. Surely there were some unpleasant moments but it’s a common thing.
It is difficult to overestimate Forex.com contribution to global online trading in general and Forex market in particular. This company is one of strongholds of the foreign exchange market.
Probably, realizing its magnitude, the company is slow to respond to rapidly changing conditions. In particular, it’s not quite clear while it is ignoring online e-payment systems. Although being so forward-looking and eager to introduce advanced information and trading technologies, in some issues (not essential though) the broker is strictly following old (sometimes even obsolete) rules.