Forex.com Review in 2020

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Forex.com review


Forex.com Review in 2020

At Top10best.io, we strive to help you make informed decisions about financial matters. We provide you with detailed review of brokers and financial brands in the market.

By the way, we’re 100% free to use & fully independent
Trusted by thousands


Forex.com review Forex.com Review:
The best Low Fee Forex Broker in 2020


Forex.com started offering trading service since 1983 as part of Gain Capital, a NYSE Listed company and eversince branded is a well known international trusted online broker with focus on FX Forex and CFD brokerage services.
Forex.com is well regulated in majority of jurisdictions:

  • Apart from SFCA in the US, The Commodity Futures Trading Commission (CFTC) of USA has regulated them too
  • (ASIC) in Australia also known as Australian Securities and Investments Commission
  • (MAS) in Singapore, Monetary Authority of Singapore regulated them
  • (ASIC) in Australia also known as Australian Securities and Investments Commission
  • (FSCA)
  • In Japan they are governed by both (FSA) the financial service agency, and also (FFAJ) Financial Futures Association of Japan
  • Even though Forex.com is not publicly listed on any stock exchange, the company maintains a safe reputation as a safe broker since it is regulated by top-tier financial authorities
    The portfolio of products and services that Forex.com offers are mainly around Forex, CFD, Crypto. We have analysed over 31 Tier-1 online brokers & online trading paltforms, and rated Forex.com as an option for:

  • Decent broker for crypto
  • Best Regulated Forex brokers
  • Low Stock Index CFD Fee broker
  • Low Forex Fee broker
  • You can also find other options and review the best forex brokers or glance through our list of best CFD brokers that our editorial team has reviewed this month, alongside other online brokers.

    If you wish to see other options, you can easily compare Forex.com alternative or keep on reading.



    best cfd broker
    Best FX Broker for Low Trading Fee
    Trade Now

    Account Fees:

    NO

    Minimum deposit:

    $50

    Withdrawal Fees:

    Free

    Investor Protection:

    EEA countries: £85,000, Canada $1 Million

    Regulated:

    YES, Australia, UK, USA, Japan, Canada

    Customer Support:

    Live Chat, Email

    Demo Account:

    YES

    Trading Options:

    CFD, Crypto, Forex

    Expert rating:

    Online Trading Platform: Mobile, Web

    Commission rating:

    Research rating:

    Education rating:

    Overal Ranking:

    4.4 / 5

    Deposit & Withdrawal Type:

    Bank Transfer, Electronic wallets

    Open Account

    Forex.com Pros and Cons

    To put is simply, Forex.com offers CFD FX and Crypto, and you can use their online trading platform in all 3 forms of web, mobile and desktop (the platform is not as as strong as other competitors like eToro or Plus500 but MetaTrader is well known to all online traders). on the other hand, it offers charting features with decent customization capability.

    A good side of the fact is thet its trading fees are low and there is no extra fee for withdrawal. They also allow you to choose different base currencies.

    If you wish to see other options, you can easily compare Forex.com alternative or keep on reading.


    Forex.com Pros and Cons

    To put is simply, Forex.com offers CFD FX and Crypto, and you can use their online trading platform in all 3 forms of web, mobile and desktop (the platform is not as as strong as other competitors like IG, and eToro but Meta Trade is well known to all online traders). on the other hand, it offers charting features with decent customization capability.

    A good side of the fact is thet its trading fees are low and there is no extra fee for withdrawal. They also allow you to choose different base currencies.

    How much is Forex.com Fees

    There are Pros and Cons here too.
    The fees for S&P 500 CFD, Europe 50 CFD, EUR USD are built into spread.
    ✓ For S&P 500 CFD the fee is 0.4 average spread cost, which is considered to be low.
    ✓ For GBPUSD the fee is 2.4 pips, which is considered to be low.
    ✕ For EURUSD the fee is 1.3 pips average spread cost, which is considered to be Low.
    ✓ £,$,€ 15 each month after 12 months of inactivity is what Forex.com charges which is also considered very low.


    Some other positive points are:


    best cfd broker
    Pros

    Low Trading fee and free withdrawal

    Multiple base currencies

    Customizable Charts

    Regulated in many countries


    best cfd broker
    Cons

    Investment protection is only available in EU

    There is inactivity fees

    Web trading platform is not user friendly

    Markets are limited to CFD & FX



    Trading Vs Non-Trading fees

    Thats not all the fees
    As you can see in the table above we ranked Forex.com fees (in the table in 3 different categories: from low, average to high) compare to 2 other similar competitors and brokers: IG and Plus500.
    Well, you need to keep an eye on broker fees such as trading fees and non-trading fees too.

    Trading fees are very easy to understand. Those fees are there only when you trade anything.
    Trading fees come in formes of:

  • Commissions
  • Spreads
  • Financial Rates
  • Conversion Fees
  • Now it's time for Non-trading fees
    These charges are not 100% related to what you trade. You have seen them in the table above. they are fees such as withdrawal and inactivity fees.

    Forex.com

    Best Online Forex Broker (Low Trading Fee)


    4.4

    Minimum Deposit

    $50

    Trade Now

    Forex.com Trading fees

    Forex.com, which is primarily known as a FX & CFD broker offers low rate trading offers. You can set the leverage to one trade other real stocks and ETFs.
    Let's deep dive and have a look at Forex.com's fees for only forex and CFD fees. we will also run a comparison table with two big brokers to show you the difference.
    The Scenario is running this way: A typical trade, it means buying a leveraged position, holding it for 7 days and only sell after that period.
    * Volume: a $2,000 position for the stock Index
    * Volume: a $2,000 position for CFD
    * Volume: $20,000 for the forex transactions.
    The leverage in this scenarios is:
    • 20:1 stock index CFDs • 5:1 CFD • 30:1 forex

    Here is the tabular view of Forex.com's fees and side by side comparison with other 2 brokers.


    CFD Scenario

    Forex.com

    IG

    Plus500

    S&P 500 index CFD fee

    $1.9

    $2.1

    $2.1

    Europe 50 index CFD fee

    $1.6

    $1.6

    $1.3

    Apple CFD fee

    $21.8

    $31.9

    $8.9

    Vodafone CFD fee

    $26

    $25.7

    $7.6


    Forex Scenario

    Benchmark Fee

    Forex.com

    IG

    Plus500

    EURUSD

    $12.6

    $16.9

    $17.9

    GBPUSD

    $10.5

    $15.1

    $14

    AUDUSD

    $12

    $14.1

    $12.6

    EURCHF

    $4.9

    $6.9

    $9.0

    EURGBP

    $9.9

    $11.1

    $12.6


    One good thing about Forex.com is that it operates in majority of countries with no minimum deposit.
    At Forex.com, you can choose from these 7 base currencies: EUR, GBP, USD, AUD, CAD, CHF, JPY.

    To start trading Forex.com does not charge any deposit fees, but you ought to remember that in order to deposit money you have to use funding sources that are in your own name. If you are ready to trade, go ahead and use the live account, If not, they offers a demo account to practice.


    Forex.com's Online Trading Platform

    Even though it offers all 3 trading platforms(Web trading platform, Desktop and Mobile trading Apps), the UI and user-friendliness (in terms of design) is not that modern. On the contrary, since they use MetaTrader, it enables you to fully customize your reports and use it in different languages.
    The UI & UX of Forex.com trading platform is unique and neat.
    At a glance it looks like this:


    You should not be worried if English is not your strength, because Forex.com trading platform is powered byMetaTrader, it supports the following languages: Arabic Bulgarian Chinese Croatian Czech Danish Dutch, Estonian Finnish French German Greek Hebrew Hindi Hungarian Indonesian Italian Japanese Korean Latvian Lithuanian Malay Mongolian Persian Polish Portuguese Romanian Russian Serbian Slovak Slovenian Spanish Swedish Tajik Thai Traditional Chinese Turkish Ukrainian Uzbek Vietnamese and of course English.

    When it comes to trading, customer service plays a good role.
    Overall, Forex.com customer support team respond not that fast via email, but they do a good job on phone calls, and live chat. By the way, they have yet to establish a 24/7 support process (So don't count on weekends).
    This brokerage have a live chat and offer help in English and the good thing about it is short time queues.

    Forex.com

    Top Online FX Broker, Low Trading Fee


    4.4

    Minimum Deposit

    $50

    Open Account

    What can you trade on Forex.com

    Products, Portfolio and Markets

    The options that are available to you at Forex.com are:

  • Crypto
  • Forex FX
  • CFD
  • When you buy with no leverage (leverage=1) you buy real stocks and not contract for difference. That's why Non-leveraged buy positions for equities, ETFs and cryptocurrencies (digital currency) are traded as real assets. (Be aware of the risks of price movements / we have no info at this moment about fiat currencies)
    All other positions are kind of contract for difference (this applies to cfd traders). An example could be leveraged buy positions and all sell positions of stocks, ETFs and cryptos as well as all forex, commodities and indices positions.

    Tip: If you try Forex.comr alternatives, it's necessary to know that Changing the leverage manually is a very useful feature when you want to lower the risk of a trade. For instance, rather than trading with X:1 leverage (x higher than Y), only trade with Y:1 leverage for stock CFDs. Please be reminded that forex FX and CFD trading default leverages are high, don't gamble.



    best forex broker Open Account Tip: You can not change the default leverage level.

    Currency pairs:

    84

    Stock index CFDs:

    23

    Stock CFDs:

    4500

    ETF CFDs:

    57

    Commodity CFDs:

    31

    Bond CFDs:

    12

    Future CFDs:

    --

    Cryptos:

    8



    How to open account on Forex.com.


    At first let's have a look at the 3 types of accounts that are available at Forex.com.

  • Forex.com account and MetaTrader account have higher spread and no commission
  • The other account is called DMA Account that has lower spread and $2 commission for each lot per trade.
  • Obviously, you can either open your accounts as an individual, as a join account or even a corporate.


  • You can expect a very easy, smooth and professional process to open your account with Forex.com. All you need is an email or a social platform login
    You don't want to waste time, so do they. therefore, you will get your account opened in 1 to 3 days.
    You can immediately use your demo account.

    However, if you decide to move forward as a trader and work with real money and real shares or trades, get ready to provide your passport or ID along with proof of residency (something like a utility bill or bank statement). Well, its more than easy to place an order and you will be guided throughout the process.
    Don't worry, you will be prompted with easy to use wizard for getting onboard with Forex.com.

    Performance Tracking

    Tip about away times:
    You can set alerts and notifications on Forex.com platforms)
    No matter you use desktop, web or mobile for your trading, you can get different kind of notifications or customise the platform easily.
    Please bear in mind that they offer trading ideas nut nothing on fundamental data is offered by Forex.com.
    I will put it simply, whether you need a chart, or list of assets, you can easily generate it and track the performance of your portfolio in Forex.com, It's kinda easy and you can see a clear profit/loss or commissions paid reports.
    Forex.com account


    Finally, Research & Education

    Alright, if you are looking a lot of materials to begin with, use our blog at top 10 best is a good resource to begin with since we have hundreds of pages and detailed reviews and tools, guides and articles (We do not offer investment advice and guarantees).
    Research part of Forex.com is great but they do not offer any news feeds which is a negative point. Besides,Even though they don't offer webinars, when it comes to education it's pretty comprehensive. Not only you will get a demo account, you will also have access to in depth articles, and lots of videos (about platform and trading)


    Our Take


    Overall Forex.com is considered to be a safe, and regulated(in most markets). Their negative side is on not having plenty of offers and only limited to CFD and FX. They charge inactivity fees but that is acceptable. On the contrary, it offers low fee trading fee options for both CFD stock index and Forex trading. Maybe it does not have the best online trading platform but it you can trade using web, Mobile and desktop.
    If you are ready to trade, just make sure you are aware of the risks. If not, it is a good platform to start with a demo account and then move to forex trading or online trading, Remember, there is a $50 minimum deposit.


    Forex.com

    Best Online broker for CFD, Forex, Crypto (Low Trading Fee)


    4.4

    Minimum Deposit

    $50

    Start Trading