Forex.com

Forex.com is a well-established online forex and CFD broker operating under StoneX Financial Pte. Ltd., a subsidiary of StoneX Group Inc. (NASDAQ: SNEX), a publicly traded company. The broker provides access to a wide range of markets including forex, indices, commodities, and stocks, through CFDs. Forex.com aims to cater to diverse trading needs with multiple account types and trading platforms, including its proprietary Advanced Trading Platform and MetaTrader 4 and 5.

With over 20 years in operation (originally as GAIN Capital), Forex.com emphasizes strong regulatory oversight, holding licenses from several major regulatory bodies across the globe. The brokerage offers various educational resources and customer support channels to assist traders. While the broker is known for its competitive spreads, particularly on commission accounts, some users have reported occasional slippage during volatile market conditions and varying customer service experiences. The offering includes research and analysis tools, but copy and social trading features are not directly available.

Account Types & Requirements

Forex.com offers several account types including Standard, Commission, Direct Market Access (DMA), Professional, and Islamic (Swap-Free) accounts. The Standard account is a basic account with variable spreads, while the Commission account offers tighter spreads plus a commission per trade. The DMA account provides access to deeper liquidity and lower spreads. Professional accounts are available for eligible clients meeting specific criteria and offer higher leverage.

Minimum deposits vary by account type and region, with the Standard account generally having a lower minimum deposit (e.g., $100 or equivalent) and Commission and DMA accounts typically requiring higher initial deposits (e.g., $10,000+).

A wide range of account base currencies are supported, including USD, EUR, GBP, AUD, CAD, CHF, JPY, SGD, HKD, and others. Availability of specific currencies may vary based on the region.

Fee Structure Overview

Forex.com utilizes variable spreads that fluctuate based on market conditions and account type. EUR/USD spreads can range from 0.8 pips (Standard account) to 0.2 pips + commission (Commission account). GBP/USD spreads can range from 1.2 pips (Standard account) to 0.4 pips + commission (Commission account).

Commission is charged on Commission accounts, with the specific rate varying depending on the region and trading volume, typically a few dollars per lot traded.

Overnight swap rates (rollover) apply to positions held overnight and vary depending on the currency pair and market conditions.

Forex.com generally does not charge fees for deposits or withdrawals, although your bank or payment processor may. Inactivity fees may be charged if an account remains inactive for a specified period (e.g., 12 months), with the fee amount varying by region and account type.

Order Execution & Liquidity

Forex.com's parent company, StoneX Group Inc. (NASDAQ: SNEX), is a market maker. This means that for most retail trades, they act as the counterparty and "make the market" for their clients.

• Execution Model: Forex.com primarily operates as a market maker, especially for its Standard accounts. They generate revenue from the spread (the difference between the buy and sell price).

• RAW Spread Exception: The RAW Spread Account operates differently. It offers direct access to a pool of liquidity from top-tier providers and uses an ECN/STP-style execution model. For this account, Forex.com's revenue comes from the fixed commission, not the spread.

• Execution Speed: The company publishes an execution scorecard, citing that 99.8% of their trades are executed in less than 1 second.

• Slippage Policy: Forex.com has a "Best Execution" policy and offers a "price tolerance" setting. This allows you to control the maximum amount of negative slippage (a worse price) you are willing to accept on an order. If the price moves in your favor, you can receive positive slippage (a better price).

Trading Instruments Catalogue

Forex.com offers a wide selection of forex pairs, typically 80+. Major pairs include EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD, and NZD/USD. Exotic pairs such as EUR/TRY, USD/MXN, USD/ZAR, GBP/JPY, and AUD/JPY are also available, though availability may vary by region.

CFDs are offered on indices (S&P 500, Dow Jones, FTSE 100, DAX, etc.), commodities (gold, silver, oil, natural gas), and stocks. The specific list of available stocks and indices varies by region and regulatory restrictions.

Cryptocurrency CFDs, including Bitcoin, Ethereum, Ripple, and Litecoin, are available subject to regulatory limitations and regional restrictions.

Research & Trading Tools

Forex.com provides a strong and diverse range of tools that cater to both new and experienced traders, blending in-house analysis with premium third-party resources.

Proprietary & Exclusive Tools

• Performance Analytics: This is Forex.com's standout exclusive tool, powered by Chasing Returns. It's a behavioral science feature that analyzes your trading history to identify your strengths, weaknesses, and common psychological patterns (e.g., "Do you cut winners short?").

Third-Party Tools

• Trading Central: This is fully integrated into the platform and provides actionable technical analysis, chart-based trading signals, and fundamental analysis.

• Reuters News: A live, streaming news feed from Reuters is built directly into the trading platform, providing professional-grade market news.

• TradingView: While also a platform, its integration as the primary charting package is a significant tool, offering one of the best charting experiences available.

In-House Research & Analysis

• Global Research Team: Forex.com has its own team of market analysts who provide regular commentary and trade ideas.

• Content: This includes daily market updates, weekly outlooks (like "Technical Tuesday" and "Forex Friday"), and in-depth "Quarterly Market Outlooks."

• Live NFP Coverage: They host live, interactive livestreams during major economic events like the US Non-Farm Payrolls report.

Standard Trading Tools

• Economic Calendar: A comprehensive calendar for tracking all major economic events and data releases.

• Pivot Points: A simple tool on the website for identifying daily, weekly, and monthly pivot points for various assets.

• Margin Calculator: A tool to help you calculate the margin required to open and hold a position.

Educational Resources

Forex.com offers articles, eBooks, trading guides, and platform tutorials as training materials. Regularly hosts webinars and seminars covering market analysis, trading strategies, and platform usage. A library of video tutorials on various trading topics is also available. A free demo account with virtual funds is provided to practice trading without risking real money. Downloadable guides and ebooks on various trading topics are also offered.

Customer Support Availability

Customer support is available via live chat, phone, and email. Some regions may also offer a ticket system. Support is generally available 24/5 (during forex market trading hours), with availability varying slightly by region. Supported languages include English, Spanish, German, Chinese, Japanese, and other languages depending on the region.

Funding & Withdrawal Methods

Payment methods include bank transfer, credit/debit cards (Visa, Mastercard), and e-wallets (PayPal, Skrill, Neteller). The availability of specific payment methods varies by region. Deposits via credit/debit cards and e-wallets are typically processed instantly or within a few hours, while bank transfers can take 1-3 business days. Withdrawals are typically processed within 1-5 business days, with processing times varying depending on the payment method and region. Minimum withdrawal amounts vary depending on the payment method and region.

Regulatory Trust Scorecard

Forex.com is regulated by several major regulatory bodies worldwide, including the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) in the United States, the Financial Conduct Authority (FCA) in the United Kingdom, the Australian Securities and Investments Commission (ASIC) in Australia, the Investment Industry Regulatory Organization of Canada (IIROC), the Monetary Authority of Singapore (MAS), the Cayman Islands Monetary Authority (CIMA), and the Financial Services Agency of Japan (FSA).

User Experience & Mobile App Insights

The user experience with Forex.com is centered around its powerful proprietary platforms, which are designed to be clean and functional.

Proprietary Mobile App

• Interface: The app is generally considered user-friendly, well-designed, and intuitive for finding markets, managing trades, and building watchlists.

• Charting: A major strength is the full integration of TradingView charts directly within the app. This gives you access to over 80 technical indicators, 50+ drawing tools, and 14 chart types, all on your mobile device.

• Features: It includes a good variety of order types (Market, Limit, Stop, Trailing Stop, OCO) and time-in-force options (GTC, GTT).

• Feedback: User feedback is mixed. Many praise the clean interface and powerful charting, but some users have reported that the app can be glitchy, slow to load, or occasionally freeze.

• Security: The app supports biometric login (Face/Fingerprint ID) but has been noted for not offering a more secure two-step authentication process.

Other Platforms (Web & Desktop)

• Web Platform: Like the mobile app, the web platform is praised for its clean design and the powerful integration of TradingView, Reuters news, and third-party analysis tools.

• Desktop Platform: Forex.com still offers an older, downloadable desktop platform, but it is no longer actively supported or maintained. The company actively encourages users to use the modern Web Trader or mobile app instead.

• MetaTrader (MT4 & MT5): They also offer the full MetaTrader suite for traders who prefer that ecosystem.

Forex.com offers three primary account types, which differ in their pricing structure.

They also offer a DMA (Direct Market Access) Account for high-volume, professional traders, which provides direct access to the order books of exchanges for share trading.

These are the general conditions for opening an account and trading.

• Tradable Instruments: Over 8,000+ total instruments, including:

  • Forex: 80+ currency pairs

  • Share CFDs: 3,000+ global shares

  • Indices: 15+ major global indices

  • Commodities: Metals, energies, and softs

  • Cryptocurrencies: A range of popular crypto CFDs

• Minimum Deposit: The minimum to open an account is $100 (or 100 units of your base currency).

• Leverage: Leverage is strictly determined by your regulatory jurisdiction and client status.

  • Retail Clients (FCA, CySEC, ASIC):

    • 1:30 on Major Forex Pairs

    • 1:20 on Minor Pairs, Gold, and Major Indices

    • 1:10 on Other Commodities

    • 1:5 on Share CFDs

    • 1:2 on Cryptocurrencies

  • Retail Clients (USA - NFA):

    • 1:50 on Major Forex Pairs

    • 1:20 on Minor Forex Pairs

  • Professional Clients (where eligible):

    • Can access much higher leverage, up to 1:400 on major FX pairs.

    • To qualify, traders must meet specific criteria for trading experience, volume, and capital.

    • Professional clients waive some retail protections, like negative balance protection.

• Philip Smith, Group Chief Executive Officer (CEO)
• Sean O'Connor, Executive Vice-Chairman
• Charles Lyon, Group President
• William J. Dunaway, Chief Financial Officer (CFO)
• Mark Maurer, Chief Risk Officer (CRO)
• Stuart Andrew Davison, Chief Operating Officer (COO)
• Abigail Perkins, Chief Information Officer (CIO)
• Aaron Schroeder, Chief Accounting Officer (CAO)
• Diego Rotsztain, Chief Governance & Legal Officer