forex.com broker review:2021

1. Forex.com Forex.com headquarters is in the US. The address is 135 US Highway 202/206 Bedminster, New Jersey, 07921. However, it has a fully operational UK presence as well. FOREX.com's parent company StoneX Group, Inc., is publicly traded (NASDAQ: SNEX) and regulated in 4 tier-1 jurisdictions. The 2001-established company is regulated by several financial authorities, including the top-tier Financial Conduct Authority (FCA) in the UK and the US Commodity Futures Trading Commission (CFTC). Pros & Cons Pros  Stone X, the parent company, is publicly traded on the NYSE  Wide range of product offerings  Trading View charts built into the web platform  Regulated by FCA (UK) & CFTC, NFA (US.)  Offers protection for U.K./E.U. client accounts  Rebates for high-volume traders  Commission-free trading  Accepts US clients  Fits well with high volume traders  Trades over 90 currency pairs  client can Choose between standard and commission accounts to reduce costs  Multiple platforms, including MetaTrader. Cons  No account protection for US clients  No guaranteed stop losses for US clients  CFDs not available in the US  The broker's UK entity makes available crypto CDFs neither to retail traders nor British residents.  Subpar website maintenance  Limited assets outside of foreign exchange.

2. Is Forex.com a scam? Regulations Forex.com is the numero uno forex broker in the US as far as customer funds go. CFTC registered with the CFTC,FOREX.com is a member of the NFA (#0339826). Moreover, GAIN Capital UK Ltd (Broker's British entity) is authorised and regulated by the Financial Conduct Authority (FCA #113942). Segregated Client funds are a guarantee of security. British and Continental traders are FSCS-protected to the extent of £85,000. In addition, traders can avail of Guaranteed stop-loss and negative balance protection, albeit at a cost. The Canadian Investor Protection Fund looks after Canadian trader investments with FOREX.com. As far as user security goes, the data is encrypted using SHA256, TripleDes and MD5. On the other hand, Two-Factor Authentication (2FA) and biometrics (mobile application) secure access. Publicly traded, Forex.com is authorised by four tier-1 regulators and one tier-3 regulator (low trust). Significantly, it does not operate a bank. Following tier-1 regulators regulate the broker: Financial Conduct Authority (FCA), Investment Industry Regulatory Organization of Canada (IIROC), Japanese Financial Services Authority (JFSA), and the Commodity Futures Trading Commission (CFTC) NEFA (National Futures Association).    FOREX.com's parent company is publicly traded (NASDAQ: SNEX) and regulated in four tier-1 jurisdictions. FOREX.com tops across four core categories: Offering of Investments, Platform and Tools, Mobile Trading, and Education. FOREX.com's multi-asset offering performs the best on its flagship Advanced Trading (desktop) and Web Trading (browser) platforms. Forex.com Trading Account Types Standard account The standard account is best suited to beginners and novices. It has higher spread costs and no commissions. Commission account The commission account targets high-volume and expert traders. Here, you pay a commission in exchange for lower spreads. Direct market access account For advanced/professional, high-volume traders, this account has a recommended minimum balance of $25,000. It has lower spreads and higher volume requirements for the lowest commissions after rebates. Demo account The demo account permits you to fully get used to the characteristics of the broker's platforms. Also, you can find out if, as a beginner in FX trading, you are really ready to commit real funds even as you practice with virtual funds in demo account simulated trading.

3. You only need to submit your name, address and tax ID to substantiate your identity. You will be submitting documentary proof to this end.    Valid and current passport Valid and current driver's license Valid and current national ID You can prove your residential status by submitting:    photo ID with address, Government-issued Bank/credit card statement Utility bills You can upload these documents through the MyAccount section. It is possible to open a joint or corporate account with some extra steps. You can start trading with $100. Forex.com trading platform FOREX.com provides forex traders with everything they need and more to trade effectively. There are plenty of options between the broker's flagship Advanced Trading desktop and Web Trading platform. Additionally, there's the full MetaTrader suite, MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Advanced Trading: FOREX.com's flagship desktop platform, Advanced Trading, has a hearty charting package with 139 technical indicators, drawing tools, and 100+ pre-defined automated strategies. In addition, Trading Central powers Technical Analysis and research tools. We can only approve its suite of Market Buzz, Technical Insight, and Analyst Views modules. Web trading: FOREX.com's Web Trading platform facilitates browsing through markets, conducting research, and placing trades. Trading View powers Charts. The latter comes complete with close to 100 indicators, 14 timeframes, and ten chart types.  Designing a new layout can be a hassle as windows do not automatically rearrange and may quickly become jumbled. But, moving on, there are advanced order types and features such as the "close all" button, amalgamated positions besides the ability to set a price tolerance (deviation parameter for slippage) for trade executions. MetaTrader: It's mildly unsettling that there are barely 600 instruments available on the broker's MT5 platform, relative to more than 4500 on its non-MetaTrader platforms. Mobile app/Mobile trading FOREX.com offers a native mobile app alongside the MetaTrader mobile apps, including MT4 and MT5. In addition, FOREX.com's mobile app saw a great makeover in 2020.

4. Highlight features:       Economic calendar, Trading Central Integrated module suite, Alerts, Market updates, and News headlines from Reuters. The mobile app's trading and managing positions are straightforward due to its fluid user interface and minimalist design. The app also services advanced order types, among them. OCOs, Trailing-stops, as well as A "close all" button. Mobile charting:    The FOREX.com app syncs watch lists and include Trading View-powered charts, with 80+ indicators and 75 drawing tools. MetaTrader: Forex.com mobile trading features:            Android App; Apple Ios App; Alerts- Basic Fields; Watch List; Watch List Syncing; Charting – 88 Indicators/Studies; Cahrting – Draw Trendlines; Charting – Trendlines Moveable; Charting – Multiple Time Frames; Charting – Drawing Autosave; Forex Calendar. Forex.com tradable assets  91 Currency pairs  Unleveraged gold and silver  Five Futures products (via FuturesOnline)  20 Stock Index CFDs  380 Stock CFDs  20 ETFs  29 Commodity CFDs  Nine Cryptocurrencies Forex.com commission & spreads Standard account: Average spreads costlier at 1.4 pips (1.6 in the US) on the EUR/USD. DMA account Globally available and tied to FOREX.com's native Advanced Trading platform suite, the DMA account presents agency execution and the FOREX.com discounts.  The general spreads are close to 0.03 pips on this account for the EUR/USD pair. Commission account :  There are five volume tiers with rebates moving between $2 per million at the base tier and $9 per million for level five.

5.  The lowest tier-based commission is costlier at $10 per Standard lot ($5 per side), adding close to one pip to the typical spreads of 0.8 pips for the EUR/USD. Forex.com leverage Margin requirements for FOREX.com differ depending on the currency pair you're trading. For example, the USD/CAD pair margin requirement is 2%. The implication is that for every $100,000 of margin you want to use, you must maintain a deposit of at least $2,000 in your account. Forex.com deposit & withdrawals Some parts of the broker offering are indeed free, which makes this broker one of the most competitively priced, even on a standard account. These include:     No account opening fee No deposit fees No withdrawal fees No account management fee. There is an inactivity fee of $15 that is charged monthly. this is levied once the account is inactive for 12+ consecutive months. FOREX.com is truly a low-cost brokerage. The minimum deposit required is $50. Forex.com educational & research support Written content: Quality Educational Publishing FOREX.com has close to 100 written articles that are conveniently organised by experience level. The educational content covers 19 beginner articles (excluding platform tutorials), 34 intermediate, and 17 for advanced users. Forex.com education features:  Comprehensive General Forex Education;  Client Webinars;  Beginner Trading Videos;  Advanced Trading Videos;  Investor Dictionary (Glossary);  Tutorials/Guides (PDFs Or Interactive). Research overview: The Advanced Trading platform has Multiple news channels, automated pattern-recognition modules from Trading Central, and blog updates from FOREX.com's global research team. Headlines stream from Reuters. Besides, an economic calendar is integrated across the site and platforms. Forex.com research features

6.       Daily Market Commentary; Forex News From Top Tier Sources; Weekly Webinars; Trading Central (Recognia); Social/Market Sentiment (Currency Pairs); Economic Calendar. Forex.com customer support  There are currently three ways by which you may reach customer support.  Phone: selecting option 1 after calling 877-367-3946;  Email – support@ FOREX.com;  Live Chat on the website.  Forex.com customer support is available Sunday –Friday 10:00 -17:00 EST. Final Verdict FOREX.com concentrates its resources on currency trading — and in this arena, it excels. Lower-than-average commissions and a comprehensive platform will thrill the most experienced forex trader. While tiered pricing and margin access may confuse new traders, novices will take great pleasure in FOREX.com's vast range of educational tools and resources. In addition, mobile traders will be captivated by FOREX.com's app, which mirrors the compatibility of the web platform. FOREX.com offers a unique platform in tradable currencies and excellent education offerings both beginners and experienced traders can navigate easily.