Forex.com Review

Forex.com – Performance Transparency

Pricing means nothing without quality trade executions. We strive to deliver the best price and execute your trades as quickly as possible. We prove that to you with our Execution Scorecard.

Forex.com is one of the best brokers in terms of price and performance transparency. To show clients they are delivering on their promises when it comes to execution quality and spreads Forex.com have a regularly updated trade execution scorecard and spreads table.  Forex.com was the first broker to offer a trade execution scorecard and have been doing so since 2011.

Trade Execution

Fast execution is the time you make your order to the time your order is executed by the broker or liquidity provider. Fast execution or low latency means

• Less slippage – Forex.com uses market order for execution.  Prices in the forex market are constantly changing and lags will occur between the time you place your order and data is received by the liquidity provider. This is known as slippage. Fast execution while not eliminating slippage, greatly reduces its occurrence.  Forex.com has an execution speed of 0.04ms and completes your order in under 1 second 99.80% of the time.
• Fewer rejections – Low latency reduces changes of orders being rejected because the amount set by the broker has been exceeded.

Performance improvements

Forex.com have designed the execution process to ensure you always get the best available price. Market order uses the best available price when slippage occurs, Forex.com have a filter to improve the likelihood prices work in the trader’s favour.

Speed of fills

Fast execution improves the chances your order will be filled.

Note: these stats are based on Forex.com trading platforms, not MT4.

Price Transparency

The forex market is a decentralized market and prone to price discrepancies. However, Forex.com has a wide network of liquidity providers (30 tier-one LPs) that quote their FX prices into the broker’s price engine. This ensures fair, transparent and more robust pricings for all market participants.

FOREX.com’s STP Pro Account is designed to offer greater visibility into the bid and ask prices and the trading volume for each price level. For example, the STP Pro dealing ticket gives you access to an aggregated Depth of Market (DOM) with several price levels deep into the order book.

Forex.com – Range Of Trading Platforms

Forex.com offers 2 families of trading platforms, this is their proprietary Forex.com suite of trading platforms and the mainstream MetaTrader 4 trading platform. Both platforms are available for desktop, mobile and web and are flexible enough to cover the needs to needs of all types of traders, from beginner to advanced and desktop to those on the go. The right platform for you will depend on your forex trading needs.

The choice of platforms on offer can be brokers town into the following options

• Forex.com Desktop – Advanced Trading Platform
• Forex.com Mobile
• Forex.com Web
• MetaTrader 4
• MetaTrader 4 Web
• MetaTrader 4 Mobile

Forex.com Platform Trading Platforms

Forex.com’s proprietary trading platform has 3 versions available with each version designed for the needs of different types of traders.

Forex.com Desktop – Advanced Trading Platform

Advanced Trading Platform as the name suggests is Forex.com’s most sophisticated trading platform It is built with serious forex and CFD traders in mind who require superior analytical tools and features for greater in-depth insights than is needed from the average trader. Its strengths lie in its customizability and range of order types. Among these features, you will find

• 80 Technical indicators
• Over 100 predefined indicator plus the ability to create your own
• 15 timeframes
• Customisable drawing tools
• Development studio which supports over 100 customisable templates (using C#, .NET, Visual Basic) to identify trading entry and exit points
• Drag and drop customisable watchlist to define your trading preferences

Wide range of risk management tools including

• Large choice of order types (market, limit, stop, trailing, contingent  orders, one-cancels-the-other) to manage your risk
• Guaranteed stop-loss order and trailing stops
• Partial closing
• Hedging

As this is an advanced trading platform, some traders may find the platform not to be exceptionally user friendly as its cluttered with too much information.

Forex.com WebTrader

While Advanced Trading Platform is designed to offer the most advanced tools, Web Trader is optimised for speed and performance when trading through the web-browser. The platform is a nice platform to look at and use. With this platform, traders will have access to the following

• Smart trade ticket to set orders based on profit and loss, price or pips.
• Over 50 drawing tools on multiple chart types
• 70 technical indicators
• 10+ time intervals
• Trading directly from charts with click and drag
• Market, limit, stop-loss trailing stop and One cancel the other order types.

Forex.com – Mobile

The Forex.com mobile app is available through Google Play for Android and App Store for Apple. The app offers a complete trading experience, with a user-friendly interface and great searchability so you can find the instruments you need with ease. With this App you can find:

• User-Friend designed mobile app
• Market, limit, stop, stop trailing and one cancels the other order types
• Customisable navigation barn dashboard and watchlists
• Choice of light and dark themes
• Account funding via App

While Forex.com Mobile is a great trading app it can be a little slow to load at times and does not offer time limits like Good till cancelled or end of the day.

Advanced Charting

To help get the most from your trading with Forex.com, the broker offer advanced charting analysis tools from TradingView, AutoChartist, and Recognia. Forex.com is one of the few brokers that has TradingView integrated directly into its platforms and is one feature that makes the broker stand out from other brokers. With TradingView traders get:

• Over 10 chart types
• 14 timeframes
• Over 60 technical indicators
• Chart templates that can be saved for future use

MetaTrader 4

FOREX.com’s suite of trading platforms also includes the most popular trading platform MetaTrader 4 (MT4). The MT4 platform is a great fit for the global forex exchange market. Besides the easy-to-use interface, Forex.com powers the MetaTrader 4 trading platform with unique tools for market analysis.

Forex.com clients will gain a competitive advantage through the following integrated tools:

• Dedicated support straight through the MT4 platform
• Fully integrated Reuters News
• Autochartist – trade ideas
• com in-house research
• Trading Central technical analysis
• Account management tools exclusive to Forex.com clients
• Free Apps powered by FX Blue

You can download and install MetaTrader 4 for Windows PC and MAC OS X. Before you install MetaTrader 4 make sure your operating system meets the system requirements. At Forex.com you can also benefit from a reliable MT4 mobile solution. Forex.com mobile app is supported across all devices, including Android, iPhone or iPad.

Additionally, the MetaTrader 4 software is enhanced to support Experts Advisors (EAs) for automated trading. The MetaTrader Expert Advisors come with the following advantages:

• Flexibility to run your trading strategy 24/6 without any interruptions
• Free VPS hosting capabilities
• Real-time tick-by-tick analysis
• Over 20 built-in EAs
• One-on-one VIP support

To be eligible for a free EA hosting on a dedicated server, clients need to generate at least 500,000 in notional trade volume.

Forex.com – CFDs

The CFDs offered by Forex vary depending on which country you are trading due to regulatory restrictions. While you won’t find unique options like bonds, ETFs, Interest Rates CFD, the range among the financial products available is quite comprehensive.

Europe and The UK

Traders in Europe get access to over 4500 markets.  One unique feature is the ability to pair Bitcoin with USDM AUD, EUR, GBP currencies and the ability to

One unique feature is the ability to pair Bitcoin with USD, AUD, EUR, GBP currencies and the ability to buy and sell fractional Bitcoin with 0.1 lots. Forex.com claim to offer the best Cryptocurrency costs on the market.

Canada

Forex.com offers Canadian traders access to 300 different markets. Unfortunately, cryptocurrency trading is not available for Canadian and US traders.

USA

CFD options for USD traders are much more limited with only gold, silver and futures through the ‘Small Exchange’, a unique product offered by very few brokers.

Forex.com – Customer Service

The broker is very dedicated to helping its clients succeed in FX trading and offers very good customer support. One can contact the support staff 24 hours a day between 10 am Sunday to 5 pm Friday through numerous channels like telephone, live chat, fax or email. Apart from English, the broker offers assistance in numerous languages including

• French
• German
• Italian
• Arabic
• Spanish
• Japanese

All the trade-related queries are addressed within the next 24 hours from the time request has been made.

Forex.com is especially committed to ensuring your Forex.com journey is as smooth as possible so have a range of resources to support you through when trading.  These include

• Glossaries
• FAQ
• Integrated support into the trading platform such as tutorials, market analysis

All the trade-related queries are addressed within the next 24 hours from the time request has been made. The broker has a quality educational support centre which aims at making its traders knowledgeable by offering numerous articles and other information on Forex trading.

Education –

Forex.com offers a self-study course through its Learning centre that is quite comprehensive. Delivered mostly though online web content forex students can choose from a range of topics including:

• ‘Trading Concepts’
• ‘Managing Risk’
• ‘Technical Analysis’
• ‘Trading Strategies’
• ‘Fundamental Analysis’
• ‘Forex.com Platform Tutorials’
• ‘MetaTrader Platforms Tutorials’

Topics are designed for beginner, intermediate and advanced levels.

Forex.com – Funding

Forex.com clients can find their accounts with either credit or debit card or use wire transfer. There are no costs imposed by the broker for either method however a minimum $100 will be required when depositing by card.

Forex.com Regulation

Forex.com is regulated by several tier-1 regulators allowing them to offer services in multiple markets. Use of a regulator especially a tier-1 regulator assures clients that the broker is meeting their obligations to protect clients funds and dealings in the regulators country.

Regulator requirements mean the broker has defined processes in the following basic areas:

• Business continuity planning
• Disaster recovery planning
• Data and trading security
• Anti-monetary laundry (AML)
• Customer complains

United Kindom and Europe

Traders from the UK and Europe will operate with Forex.com entity GAIN Capital UK Limited. Gain Captial UK Limited is regulated by the Financial Conduct Authority (FCA) who have granted the broker the following licence number – FCA register Number #113942.

The USA

Forex.com is one of the few brokers that offer forex trading to US clients. Since 2004 the broker has been recognised as a futures commission merchant (FCM) and retail foreign exchange dealer (RFED) by the Commodities Futures Trading Commission (CFTC) and National Futures Association under the NFA licence #0339826.

CFDs are not permitted for trading in the US.

Canada

In Canada, Forex.com operates with the trading name GAIN Capital – FOREX.com Canada Limited. It is regulated by the Investment Industry Regulatory Organization of Canada (IIROC)

Countries Outside Europe, Canada And The USA

Countries outside for Europe, Canada, the USA are regulated by Cayman Islands Monetary Authority (CIMA) with the trading name GAIN Global Markets Inc and CIMA licence number 25033 except for Japan where Forex.com is regulated by the Financial Services Agency (FSA).

Forex.com was previously regulated by the Australia Securities Investments Commission (ASIC) in Australia but Forex.com was candidates with City Index.

Forex.com For Traders In The United Kingdom

• Forex.com is the trading name of GAIN Capital UK Limited UK which operated with business registration number 1761813. Forex.com is regulated by the Financial Conduct Authority (FCA) with Register Number 113942.

Gain Capital registered address is Devon House, 58 St Katharine’s Way, London, E1W 1JP.

To be compliant with FCA regulations which need to be kept in line with ESMA (MiFID II directives) there are some trading account details Forex.com clients in the united kingdom should be aware of.

ESMA has tight leverage for retail traders and requires brokers to offer negative balance protection and 50% maintenance margin to all retail traders. This is a recognition that retail traders may be vulnerable when trading with leverage to excessive losses. Professional traders, however, are better positioned to handle margin trading and ESMA recognising this by making allowances for professional traders to access higher leverage margins. Professional traders will, however, lose negative balance protection.

Leverage – Retail and Professional traders

To qualify for a professional account the following criteria needs to be satisfied.

Forex.com Conclusion

Forex.com is a well-regarded forex broker that is regulated by several tier-1 regulators. Forex.com offers a choice of their a user-friendly trading platform with the bonus of integrated charting tools and MetaTrader 4, which is highly suggested if you are planning to be serious about trading which means they have a suitable trading platform for all types of traders needs. In addition to trading platforms. Forex.com offers a range of trading account types, transparency with its trading execution, performance and spreads and a wealth of educational material. All these means Forex.com offers trading which will keep both beginner and advanced traders satisfied.