Forex.com Review

Is Forex.com reliable? Forex.com spreads, Forex.com regulation, Forex.com account types. I am going to clarify all those topics in this Forex.com review. Forex.com was founded in 2001 by GAIN Capital Group LLC and was acquired recently by its ultimate parent company, StoneX Group Inc., a publicly traded company (NASDAQ:SNEX). Since Forex.com is registered and regulated by CFTC and NFA, US clients are welcomed to open a trading account and start investing online.

Is Forex.com reliable?

Yes, it is registered and regulated by CFTC and NFA in the US in addition to Cayman Islands IMA, UK’s FCA, ASIC, JFSA, MAS, and SFC.  Therefore, I can say that Forex.com is a reliable forex broker without any doubt. Forex brokers regulated by FCA are enforced to join Financial Services Compensation Scheme (FSCS) which insures client funds up to €85.000 (For UK clients only).

Forex.com Account Types

Forex.com offers three different account types; Standard Account, Commission Account and STP PRO. Spreads goes as low as 1.0 pips for EURUSD on Standard Account which is very competitive compared to industry standards. Minimum initial deposit required for Standard Account is zero which means that you can open an account and verify it without depositing any funds. However, at least $100 deposit is recommended in order to be able to start trading. The Broker also offers Commission Account which is very similiar to an ECN account on their exclusive trading platform called Advanced Trading Platform. The third account type is STP PRO which comes with zero spread and $25.000 recommended balance. This account charges commission for each transaction and is only provided through Advanced Trading Platform.

Forex.com Customer Support

Forex.com provides customer support in two languages; English and Chinese. Live Chat is prompt to answer your questions and very informative. Customer support is available on 10AM EST Sunday to 5PM EST. The Broker offers extensive market analysis and educational material on their web site.

Forex.com Trading Platforms

Forex.com offers its own exclusive trading platform called Advanced Trading Platform in addition to conventional MetaTrader 4. So, clients are given chance to choose between those two trading platforms. Advanced Trading Platform comes with a highly customizable dashboard and trade preferences, useful charting tools, more than 80 technical indicators, extensive drawing tools and integrated trading strategies with hundreds of predefined templates to choose from.

Forex.com Withdrawal and Deposit Methods

Investors can deposit and withdraw funds by debit card, bank transfer (ACH) or wire transfer. The Broker offers other funding and withdrawal methods depending on the location and entity that holds your account.

Forex.com Trading Instruments

Forex.com offers forex trading with a leverage of 50:1 in the US. The products and services offered by Forex.com depends on the location and entity that holds your account.

Does Forex.com Accept US Clients?

Yes, Forex.com accepts clients from the US. Forex.com is regulated by US regulators NFA and CFTC.

Forex.com Final Word

Forex.com is a regulated and reliable forex broker. One of the important features of this broker is that Forex.com is regulated by CFTC and NFA in the US thus accepts clients from the US. Only a handful of brokers accept clients from the US and Forex.com is the only one that is regulated and registered in the US.

Maximum value, reliability, superior trade execution, sophisticated trader tools, extensive market analysis and educational resources, professional and qualified customer support, over a decade industry experience, financial strength and strong regulation are the highlights of this reputable forex broker. Thus, I can definetely recommend to open an account and trade with Forex.com.

Forex.com – Step by Step Live Account Opening Guide

Our step-by-step tutorial on opening your Forex.com live account. The whole registration and verification process should not take more than few minutes in case you already prepared your KYC documents.

Step 1 – Select Your Preferred Account Type

The first step for opening a live account at Forex.com is to click on OPEN AN ACCOUNT button at the homepage as highlighted below.

The next step comes with a screeen where you will be prompted to choose your account type. Here you have three options; Standard Account, Commission Account and Direct Market Access Account. Once you have selected the account type that best suits your trading style, you will be directed to the next step where you will be asked for your personal information.

Step 2 – Submit Your Personal Information

After you selected the account type, you will be forwarded to second step of the registration. At this step, Forex.com requires you to submit your personal information along with some other information such as trading experience.

The first form requires you to enter your basic personal information. This is  followed by your employment details and general financial information. Then, you have to submit your trading experience and anticipated deposit amount before you can finalize the registration.

Forex.com offers a registration process which is way more straightforward  and convenient compared to many other forex brokers. You will not need more than 10 minutes in order to complete this step.

Step 3 – Upload the Required Documents and Verify Your Live Account

Once you completed and submitted your personal information, the next step will be account verification. In order to be able to verify your account and start trading, you will need to verify that you are the genuine owner of the account.

Forex.com, like many other forex brokers, requires you to submit two sets of documents for verification. One is for Proof of Identity and second is for Proof of Address. If you already have those documents on your computer, all you need to do is to drag & drop or upload them.

Once those documents have been properly uploaded for verification, the compliance team should be on the top of it. The verification process is usually completed within few hours, nevertheless it may take up to 24-hours in occassional cases.

Please make sure that you have uploaded the documents in accurate format and with required features in order to pass the compliance without any delays.