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Forex.com Broker Review

Forex.com Broker Review
Borina
Forex.com is a regulated forex broker. It is authorized and regulated by the Financial Conduct Authority in the UK, with FCA Register Number 113942. Forex.com claims to be the world’s largest MetaTrader broker that offers tight spreads, 90 forex pairs, indices, shares, cryptocurrencies, and lowest trading costs. It is completely understandable why all this would... Read more
Forex.com is a regulated forex broker. It is authorized and regulated by the Financial Conduct Authority in the UK, with FCA Register Number 113942. Forex.com claims to be the world’s largest MetaTrader broker that offers tight spreads, 90 forex pairs, indices, shares, cryptocurrencies, and lowest trading costs. It is completely understandable why all this would be appealing to an average trader. But before you make a deposit, be sure to read out Forex.com review and find out more. This review will cover all important things that might affect your trading with this broker like customer support, account features, trading platforms, and deposits. Forex.com is owned by GAIN Capital UK Limited.
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  1. Forex.com is a regulated forex broker. It is authorized and regulated by the Financial Conduct Authority in the UK, with FCA Register Number 113942. Forex.com claims to be the world’s largest MetaTrader broker that offers tight spreads, 90 forex pairs, indices, shares, cryptocurrencies, and lowest trading costs. It is completely understandable why all this would be appealing to an average trader. But before you make a deposit, be sure to read out Forex.com review and find out more. This review will cover all important things that might affect your trading with this broker like customer support, account features, trading platforms, and deposits.

    Forex.com is owned by GAIN Capital UK Limited.

  2. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    Between 74-89 % of retail investor accounts lose money when trading CFDs
    Your capital is at risk
  3. Forex.com Special features

    Forex.com offers two account types. One account is a Professional account and the other one is a Retail account. However, the trader has to fulfill some requirements before opening a Pro account.

    Forex.com Professional Account

    Requirements for this account are:

    • Making over 10 transactions of significant size in the past four quarters
    • Financial portfolio with cash deposits exceeding €500.000
    • At least one year of professional experience in the financial sector that required trading leverage products

    Traders must fulfill at least two out of these three requirements to be considered for a professional account. However, this account type offers:

    • Margin rates from 0.25%
    • Cash rebates
    • Credit facility
    • Broker-assisted dealing
    • A dedicated Market Strategist

    Forex.com Retail Account

    This account type could also be called the “Classic” account, as this is the account type that is available for all traders. You get access to Forex.com proprietary platform and MetaTrader platform. Also, you can expect margin rates from 3.33%. The minimum deposit is $50.

    Forex.com Demo Account

    Forex.com also offers a free demo account. The demo account lasts for 30 days and contains only virtual money. This means that any money you make while trading a demo is only virtual, just like coins in online games. You can open only one demo account for every type of trading platform per one email address. The demo account cannot be renewed or used after the expiration.

    However, a demo account is always a neat feature, especially for traders who need to figure out how to use the platform because they never encountered it before. Also, it gives you a chance to test your strategies before placing a trade with real money. Traders who use demo know what to expect when they start real trading.

    Forex.com Spreads

    Traders can take a look at live and typical spreads on the Forex.com website.

    Here are some typical spreads

    • AUD/USD – 1.8
    • EUR/GBP – 1.5
    • EUR/USD – 1.4
    • GBP/USD – 2
    • Bitcoin – 35
    • Bitcoin Cash – 2
    • Ethereum – 1.2
    • Ripple – 60

    Forex.com Crypto Trading

    Forex.com supports cryptocurrency trading. This broker allows traders to go long or short from 10 p a point. You can trade crypto CFDs, without ever owning a cryptocurrency which makes crypto trading accessible to a larger number of traders. There are several cryptocurrencies available with Forex.com:

    • Bitcoin
    • Bitcoin Cash
    • Ethereum
    • Litecoin
    • Ripple
  4. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  5. Become an IQ Option trader today

    Join IQ Option and become a trading master! IQ Option is a world-famous regulated broker that takes your trading to the next level. It allows you to trade forex, crypto, stocks, options and much more on its award-winning platform. The best part? You can start trading with a minimum deposit of ONLY $10! Read our IQ Option review.

  6. Forex.com Trading software

    Forex.com has two trading platforms. One is their proprietary platform, and the other one is MT4 platform.

    Forex.com Proprietary Platform

    Forex.com proprietary platform is an in-house developed trading interface that offers highly customizable trading experience. Traders can apply different charting tools, drawing tools, and technical indicators to do a proper analysis. There are also advanced analytical tools with integrated strategies available for all traders. You can choose among different chart types and over 70 technical indicators. This is a web-based platform that requires no downloads and you can access your trading account directly from the internet browser. There is also a mobile platform for traders who prefer trading on the go. The mobile trading can be accessed via a mobile app, available in their respective app stores.

    Forex.com MT4 Platform

    MetaTrader4 or MT4 is also known as one of the most popular online trading platforms. Traders can use the download version, or the web-based version, as well as a mobile app for iOS and Android phones. Traders who opt for MT4 platform can also use expert advisors, as well as powerful tools and charts. Expert advisors bring traders one step closer to automated trading, and they are available only on Metatrader4 platform, and not the proprietary platform.

    Forex.com Market Strategist

    Market strategist is a feature that is not available for all traders but only for those who qualify for it. However, in Forex.com review we were unable to find out who are those who qualify for it. The broker claims how market strategists provide personalized tutorship and personalized demonstration on how to use trading platform. Also, you get additional education on fundamental and technical analysis, as well as support in meeting your trading goals. Bear in mind how market strategist program is not offering any advice on specific trades and positions. Traders should use it as an educational feature and not as an advisor.

  7. If you want to trade with an award-winning licensed broker, we recommended using IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  8. Forex.com Support information

    Forex.com has live chat customer support. In order to write a proper review, we decided to test it. We were quite surprised that we were greeted by a support bot. That is an algorithm that allows you to find an answer swiftly, and without much typing. We insisted on talking to an agent, and the support bot connected us with the first free agent. The agent provided a proper answer within seconds.

    Besides the live chat, you can also use a phone number or simply send an email.

    Forex.com put a lot of effort into creating a website that provides all the information a trader might need. You can find the right form you need with just a few clicks or take a trading course according to your level of knowledge. Also, there are many videos and articles about trading, technical and fundamental analysis and strategies that you can take a look at.

  9. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  10. Forex.com Payment Methods

    Forex.com has a minimum deposit of $50, but they recommend depositing $2,500. This is not obligatory and you as a trader have the autonomy to deposit as much as you like, so don’t feel pressured.

    You can make a deposit via:

    • Credit Card (Visa, MasterCard, Maestro)
    • Wire transfer

    All bank wire withdrawals are charged with $25 fee unless they exceed $5,000.

    Forex.com also charges fees for shares CFDs trading. More details on these fees are available on the interface. In case you want to trade overnight, be ready to pay financing fees or rollover rates. The current rates are also available on the trading interface. The financing rates are set at a rate of +/- 2.5%

    All dormant accounts with less than $10,000 are charged with a $25/month fee.

    Forex.com Pros and Cons

    Pros:

    • Free demo

    Cons:

    • High fees

     

  11. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    • FREE $10,000 demo account
    • Award-winning trading platform
    • Licensed and regulated broker

    Trade with an
    award-winning broker
    like IQ Option

     

     

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  12. Your capital is at risk
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