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Last updated on Mar 30, 2020

FOREX.com Forex Trading Review

A financially-secure company offering user-friendly trading platforms and low fees ​
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FOREX.com

  • Customizable platform
  • One of the most complete mobile foreign exchange solutions
  • Transparent ECN pricing, cutting out the middleman
  • Diverse research for the fundamentally minded trader
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How We Reviewed Forex Trading

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65 agencies compared

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3 weeks of research

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4 features evaluated

Forex is a global financial broker established in 2001, which stands as a leader in today’s foreign exchange market. Forex is the brand name of GAIN Capital and is regulated by top tier financial authorities like the Financial Conduct Authority (FCA) and the Commodity Futures Trading Commission (CFTC). Furthermore, GAIN Capital boasts that, as a publicly-traded and regulated global entity, it meets the highest standards relating to corporate governance, financial reporting, and disclosure.  

Forex offers an impressive range of trusted trading platforms for both those new to trading and those who already have experience in the industry. Specifically, traders who consider themselves to be more active will be well-suited for Forex since active trading chiefly results in lower trading costs. As a leader in the foreign exchange market, we recommend Forex as a reliable trading platform providing several services and useful features to its users.

Product Overview

FOREX

FOREX.com

Pros

-Serving U.S. traders for nearly 20 years

-Provides 80+ currencies to buy and sell

-Low minimum needed to open account

 

 

Cons

-Limited to forex trading

-No negative balance protection

FOREX.com’s Services & Features 

PriceBased on spread
Standout FeaturesLow spreadsCash rebates help lower trading costs
Access to market specialist
Forex trade cost typepips
Minimum deposit$50
Clearing methodMarket Maker
Maximum leverage (international)50:01:00
Maximum leverage (U.S)50:01:00

Traders on FOREX.com have access to a customizable and thoughtfully designed trading platform for world currency trading. In addition to nearly two decades of foreign currency trading experience, FOREX.com traders can feel secure being backed by a financially stable company

Features on FOREX.COM like its Active Trader program let you save even more on the costs of trading by using cash rebates and accrued interest on your daily margin to help recoup trading costs. Its web-based platform and access to MetaTrader 4 gives users some of the most accurate, recent data for traders to utilize. 

The Competition 


FOREX.comATC BrokersAlly InvestThinkorswim
Forex trade priceBased on spreadBased on spreadBased on spreadBased on spread
Forex trade cost typePipsCommissionPipsFlats and Pips
Minimum deposit$50$2,000$250$0
Clearing methodMarket MakerWire/Straight Through ProcessingMarket MakerDealing Desk
Maximum leverage (international)50:01:0050:01:0050:01:0050:01:00
Maximum leverage (U.S)50:01:0050:01:0050:01:0050:01:00

FOREX.com vs. ATC Brokers

ATC Brokers is the broker best aligned with the more experienced investor. ATC includes high-end tools and perks allowing investors to quickly execute orders and post them to their counterparties. One drawback to this company, however, is that it lacks the necessary degree of educational resources for beginners to consider it useful. 

ATC is also a better fit for those with a larger budget who are looking to make substantial deposits. With a minimum deposit of $2,000, ATC is not as accessible as Forex.com.

FOREX.com vs. Ally Invest

Ally Invest is the ideal option for novice investors just entering the field. Between its low starting costs and range of extensive tools, this platform provides new traders with early insight into how to be successful in the business. 

With a $250 minimum to start trading and a user-friendly interface, Ally is a great pick for those who don’t want to be crowded with all the details and overwhelming depth of options a platform like Forex.com provides.

FOREX.com vs. Thinkorswim

Thinkorswim is a platform with TD Ameritrade, which is better suited for the more experienced investors who require the ability to trade whole portfolios, stocks, futures, and options. Its more extensive features allow for greater versatility, which is particularly helpful for those already well-versed in the industry. 

With no minimum deposit for a brokerage account, but a $2,000 minimum for margin and options privileges, this broker is not ideal for budget-constrained investors.

FOREX.com FAQ

What is forex trading like?

Forex trading is one of the more complicated markets to get acquainted with. Operating on a global scale means there is no centralized forex market — it’s disparate and large. Unlike a traditional exchange, forex doesn’t stop; the result is a 24/7 market where money is constantly changing hands and value.

What is MetaTrader?

MetaTrader 4 is the most prevalent forex trading platform in the U.S, and many sites have integrated its tools into their experiences. FOREX.com syncs with MT4, meaning you’ll be able to use the latest and greatest in forex trading tools. One of the main features that makes MetaTrader compatibility so desirable is the ability to create “Expert Advisors.” These Expert Advisors are programs that users can create to automate trading in order to maintain a high-performing portfolio in times where you can’t be trading.

Does forex trading have more risk?

Arguably yes: Forex trading has all the regular financial risk market participation entails, but the lack of centralized organization exposes your data more. Agencies like the National Futures Association (FNA) and the Commodities Futures Trading Commission (CFTC) work hard to regulate the brokers in the market, but like any sort of financial market, there is an element of risk inherent in putting your money on the line. We advise you to be diligent in your search for a primary forex platform and find one that not only serves your needs, but that makes you feel secure as well.

The Bottom Line

Forex.com is a leading platform for foreign exchange in today’s global and digital marketplace. The company is a publicly-traded and regulated entity that brings with it years of service in the financial sector. 

Particularly, Forex.com offers a variety of platforms specifically tailored to meet the needs and desires of foreign exchange traders of all skill levels. And along with Forex’s Active Trader Program, the more users trade, the more they can potentially earn. No matter the trader’s skill or expertise level, Forex makes it easy to get started and identify the strategies needed to be successful. 

About the Authors

Courtney Martin

Courtney Martin Contributing Writer

Courtney Martin is a freelance writer whose work covers a range of industries, including finance, technology, and travel. She has a Bachelor of Arts in English, a Bachelor of Arts in History and a Master of Arts in Teaching Social Studies from Coastal Carolina University. Her work has been published in both digital and print media, from start-ups to globally-recognized brands.