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72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of https://torforex.com/economic-calendar-forex/ losing your money. We understand your frustration in this matter and hope you reach out to our support team with more details. Our support team is available by phone, live chat, or email at

Clients can use FOREX.com’s API to connect in for their own strategies. MT4 and MT5 connectivity allows the use of automated strategies using MetaTrader algorithms. FOREX.com advertises fast, reliable execution making it a good fit for the high-volume trader, who can earn rebates through the "Active Trader" program, thereby lowering trading costs. Popular assetslike real stocks or bondsare not available. Stock CFD fees are quite high, and the desktop platform is not easy to use. On the positive side, it has low forex fees, many tradable currency pairs, and high-quality research tools.

Forex Com Review 2022

Client accounts can go negative, as negative balance protection is not offered to them. In plain English, U.S. traders with negative account balances are on the hook for more money than they initially deposited into their accounts. Also, U.S. clients are not offered guaranteed stop loss orders. Clients "negative balance protection," as mandated by ESMA, and guaranteed stop loss orders , which protects against market gap risk.

  • For example, if you are from the UK, you will sign up with StoneX Financial Ltd and will be eligible for investor protection of £85,000.
  • Globally, FOREX.com offers clients access to a wide range of product offerings that span several asset classes.
  • In addition, every broker we surveyed was required to fill out a 320-point survey about all aspects of their platform that we used in our testing.
  • Leverageenables traders to ‘borrow’ capital in order to gain a larger exposure to the forex market.
  • The program is open to anyone who opens an account with at least $10,000 or who trades $25 million of volume in a month.

The one criticism of the broker’s demo accounts is that they expire in 30 days and FOREX.com doesn’t give the prospective client the option of extending or applying for a new one under the same credentials. The implication seems to be that you’ve had enough time to test our platform, so either open DotBig overview a funded "live" account or go elsewhere. Globally, FOREX.com offers clients access to a wide range of product offerings that span several asset classes. Clients have access to forex, equities, commodities, indices, bonds, ETFs, industry sectors, cryptocurrencies, gold & silver , and futures .

Forex Com Review Summary

In keeping with the competition, FOREX.com has recently incorporated a ‘Performance Analytics’ tool that analyzes clients trading behavior and past performance. The mobile app is functional, providing traders with access to all their account information. Traders can add or withdraw funds, view trade history, create watchlists, access news, and view charts from the mobile app. In terms of other fees, accounts with no trading activity for more than 12 months are subject to a $15/month inactivity fee. The website does not list additional fees for deposits or withdrawals.

The customer service chat is amazing and fast with real people. Customer service is available and adequate, though substandard website maintenance speaks to a lack of attention to detail. Client funds are kept segregated from the funds of FOREX.com, which helps safeguard clients’ money in the event the company has financial issues. Clients also have additional asset protection through the Financial Services Compensation Scheme , up to £85,000, while Canadian clients are protected by the Canadian Investor Protection Fund. U.S. clients are not as fortunate, as no additional insurance is provided by the company in terms of safeguarding their funds.

Appalling Customer Service

What you need to keep an eye on are trading fees and non-trading fees. We ranked Forex.com’s fee levels as low, average or high based on how they compare to those of all reviewed brokers. App is a bit laggy and glitchy at times, but has been getting better over the 3 years I’ve used it. You will not find a positive review, other than the ones paid for. As long as you are in a negative trade, you are okay. When you go to withdraw, they take a week to verify the same card that you have been using for 6 months.

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However, the impression that one gets is that it could be so much better if a bit more attention was paid to the primary revenue generator – the customer. New investors will find some helpful background information, but relying solely on FOREX.com’s education to become proficient in the markets is unlikely. That said, the material covers all the major topics that a beginner should need to know. We tested it and collected the options and costs in How to withdraw money on Forex.com.

Desktop Trading Platform

FOREX.com, founded in 2001 as part of GAIN Capital Holdings, is an established global online broker that caters to individuals seeking to trade the retail FX and CFD markets. GAIN Capital Holdings, a conglomerate that includes City Index, an online CFD and spread betting provider, and Daniels Trading, https://newsindiaguru.com/dotbig-ltd-review-short-overview-of-the-financial-services-provider/ a futures advisory trading firm, was acquired by StoneX Group Inc. in February 2020. Oanda operates via several entities worldwide and is regulated by top-tier authorities, such as the US Commodity Trading Futures Commission, the National Futures Association and the UK’s Financial Conduct Authority .

Labeled Verified, they’re about genuine experiences. We are disappointed you have not had a good experience with FOREX.com. Usually the volume is too low to hear rep. Many times the voice fades to nothing. TradingView is "an advanced financial visualization platform" that has been integrated into FOREX.com’s web-based platform. Its ease of use and functionality make it, by far, the most impressive aspect of the web-based platform.

Who Forex Com Is For

If you believe a trade was executed improperly, please don’t hesitate to reach out to us so that we can conduct a thorough investigation. We stand behind every trade we execute; if we find that your position was stopped out improperly, we will always do our best to reconcile your account. Thank you for trading with us, and we hope that we can satisfactorily DotBig account assist you in resolving these inquiries. It is a simple process to fund your account, HOWEVER, when it comes time to withdraw funds, the situation changes. They make it as difficult as possible to withdraw. In the U.S., its product line caters solely to spot forex trading, unleveraged gold & silver, and futures through its affiliate, FuturesOnline.

Stop – A pending order where the entry is at a predetermined point above or below the prevailing market rate depending on whether it’s a buy or sell. The trader also has the option of selecting the expiration time of this order. Limit – A pending order where the entry is at a predetermined point below or above the prevailing market rate depending on whether it’s a buy or sell. FOREX.com is a registered FCM and RFED with the CFTC and a member of the NFA (# ). Additionally, GAIN Capital UK Ltd is authorized and regulated by the Financial Conduct Authority (FCA #113942). Clients also have additional asset protection through the Financial Services Compensation Scheme , up to £85,000. We recommend Forex.com for forex traders looking for low fees and great research tools.

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