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Forex.com International logo

Forex.com International Review 2024

By:
Dan Blystone
Updated: Nov 28, 2023
Overall Rating
4.5
  • Trust
    4.7
  • Fees
    3.7
  • Platforms and Tools
    4.6
  • Tradable Instruments
    5
  • Customer Support
    4.6
  • Research
    5
  • Deposit and Withdrawal
    5
  • Account Types and Terms
    4.9
  • Education
    5
  • How Did We Test and Rate This Broker?
    When trading forex and CFDs, understanding a broker's strengths and weaknesses is essential. We developed a proprietary rating system, which is the result of extensive research and hands-on evaluation by our expert reviewers. With a rigorous approach, our reviewers manually assess each broker, investing more than 50 hours per review, checking and testing the broker while analyzing over 250 variables to simplify the broker selection process for you. The categories we evaluate include trustworthiness, trading platforms, customer support, regulatory oversight, spreads, fees, the variety of instruments offered, education, and research tools. This unique rating system is specifically developed to ensure that the assessment is based on firsthand knowledge and experience. By dedicating a significant amount of time to each review, our team of experts can provide in-depth insights and help you make well-informed decisions when choosing the broker that best suits your trading goals.
    Chart

    We used a Standard Account opened with the StoneX Financial Ltd. entity (forex.com/en-uk/) for this review. Tests were conducted using the FOREX.com Web Trader platform. Some features and services may vary depending on where you reside.

    The Big Picture

    FOREX.com is an award-winning broker founded in 2001. The Bedminster, New Jersey-based firm provides access to trading in over 5,500 trading instruments. Clients can trade CFDs on forex, commodities, stocks, indices, and cryptocurrencies via the proprietary Web Trader platform, MetaTrader 4, or the FOREX.com mobile app. FOREX.com is owned by financial services giant StoneX, a publicly traded company (NASDAQ: SNEX) with assets of $10.9 billion. The UK entity of FOREX.com is fully regulated by the Financial Conduct Authority (FCA).

    Forex.com Key Takeaways in 2023

    • We evaluated FOREX.com across nine categories (Trust/Stability, Fees, Tradable Instruments, Account Types, Deposit/Withdrawal, Research, Customer Support, Education, Platform/Tools).
    • FOREX.com stood out as a highly stable broker. Various regulators, including multiple top-tier authorities, oversee its subsidiaries. In addition, FOREX.com is a part of New York-based StoneX, a company with 2020 revenues of over $54 billion.
    • FOREX.com provides a robust proprietary platform and an impressive range of tools, such as Trading Central and Trading Performance Analytics.
    • Research and education materials at FOREX.com are first class, better than the average for the industry.
    • Flexible account types enable FOREX.com to cater to both beginners and advanced traders.
    • Tight spreads, fast execution, and a range of powerful platforms and tools make this broker appealing to advanced traders.
    • Beginners can benefit from in-depth educational courses, live webinars, and reliable customer support.

    What Sets FOREX.com Apart from Other Brokers?

    FOREX.com distinguishes itself among competitors in several areas. Our assessment showed that in trustworthiness, platforms, tradable instruments, research, and educational materials, FOREX.com comfortably beats the industry average. It has also gone the extra mile to provide clients with tools that can help give them an edge in the markets. With over 20 years of experience providing forex and CFD brokerage services, FOREX.com is a well-rounded broker with a compelling offering.

    Who is FOREX.com for?

    Clients new to the markets can take advantage of a 30-day free demo account, excellent educational resources, and solid customer support. Experienced traders have access to advanced tools, a choice of platforms, and competitive trading conditions via the Direct Market Access (DMA) account type. UK traders who are designated as professionals have the benefit of access to greater leverage (1:400).

    Forex.com Pros and Cons

    Pros Cons
    • High trust rating.
    • Excellent range of tradable instruments.
    • Flexible account types.
    • Choice of platforms.
    • Fast trade execution.
    • Third-party tools.
    • Reliable customer support.
    • The Web Trader platform could be more intuitive.
    • Wide spreads in some instruments (Standard account).

     

    Forex.com International Main Features

    ☑️ RegulationsFCA (United Kingdom), ASIC (Australia), NFA (United States), JFSA (Japan), MAS (Singapore), SFC (Hong Kong), CIMA (Cayman Islands), CySEC (Cyprus), IIROC (Canada)
    🗺 Supported Languages
    English, Russian, French, Polish, Arabic, Spanish, Chinese, Japanese, German
    💰 ProductsCurrencies, Stocks, ETFs, Crypto, Indices, Commodities
    💵 Min Deposit$100
    💹 Max Leverage1:30 (FCA), 1:30 (ASIC), 1:50 (NFA), 1:25 (JFSA), 1:20 (MAS), 1:20 (SFC), 1:250 (CIMA), 1:30 (CySEC ), 1:45 (IIROC)
    🖥 Trading Desk TypeMarket Maker
    📊 Trading PlatformsMT4, WebTrader
    💳 Deposit OptionsWire Transfer, Credit Card, PayPal, Visa, Mastercard
    💳 Withdrawal OptionsWire Transfer, Credit Card, PayPal, Visa, Mastercard
    🤴 Demo AccountYes
    🗓 Foundation Year2001
    🌎 Headquarters CountryCyprus
    Risk DisclosureCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    Forex.com International Full Review

    Trust

    4.7
    How Did We Test the Broker's Trustworthiness?
    Assessing a broker's trustworthiness with your funds is vital. To help you make the right decision, we carefully checked each broker's regulatory license and examined how well they protect traders. Moreover, we looked at the broker's stability by studying their business history, corporate structure, and industry experience. Finally, we thoroughly reviewed all of the broker's legal documentation, including terms, conditions, and fees, and evaluated their transparency based on our analysis. Our hands-on approach ensures that even novice traders have the knowledge they need to make smart decisions.
    trust chart

    FOREX.com is one of the most extensively regulated CFD brokers in the world. Regulators of its subsidiaries include the top-tier FCA, CySEC, and ASIC. FOREX.com is owned by NASDAQ-listed StoneX Group Inc.

    StoneX on the FCA register

    In our trust category, we place the most importance on how a broker is regulated. Here we’ll cover how the different entities of FOREX.com across the globe are regulated and how this impacts you. (We rate regulators on a scale of 1 to 3, with 1 reflecting the highest level of trust.

    Entities of FOREX.com are regulated by the following authorities:

    Why is it important to know where your broker subsidiary (entity) is regulated?

    Different regulators provide different levels of protection. For example, FOREX.com clients in the United Kingdom benefit from the oversight of the FCA. The FCA requires that clients have negative balance protection, which means they cannot lose more than their deposit. Client funds must be held in segregated accounts, which are protected in case a broker goes bankrupt.

    In addition, when trading with a broker authorized by the FCA, client funds are protected by the Financial Services Compensation Scheme (FSCS). The FSCS protects investments of up to £85,000 if a firm becomes insolvent.

    In the table below we break down the protections and benefits by the entity.

    Entity StoneX Financial Ltd. StoneX Europe Ltd. StoneX Financial Pty Ltd. GAIN Capital Group LLC FOREX.com Canada Ltd. StoneX Financial Pte. Ltd. StoneX Securities Co. Ltd. StoneX Financial (HK) Ltd. GAIN Global Markets Inc.
    Country/Region United Kingdom Europe Australia United States Canada Singapore Japan Hong Kong Global
    Regulation FCA CySEC ASIC CFTC, NFA IIROC MAS FSA SFC CIMA
    Segregated Funds Yes Yes Yes Yes Yes Yes Yes Yes Yes
    Negative Balance Protection Yes Yes Yes No No Yes No No No
    Compensation Scheme FSCS Up to £85,000 ICF Up to €20,000 No Yes Yes No No No No
    Standard Leverage 1:30 1:30 1:30 1:50 1:33 1:20 1:25 1:20 1:400

    Stability and Transparency

    In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on how long the broker has been in business, how big the company is, and how transparent it is.

    Founded in 2001, FOREX.com is a pioneer in retail forex brokerage. FOREX.com is part of StoneX, a NASDAQ-listed company with assets of $10.9 billion that provides institutional-grade financial services networks. StoneX must disclose financial reports as a publicly traded company, allowing for greater insight into the company’s stability.

    In our research, FOREX.com showed good transparency in regulatory status, fees, and background information. Information and materials are available on the website. The company’s history, background, and regulatory status are covered on the Why Us page. Traders can stay on top of costs by looking at the Pricing page, which covers spreads, commissions, and swap fees. The important Terms & Policies documents, including the Client Agreement and Order Execution Policy, are linked to the website’s footer.

    In summary, we rated FOREX.com as having an above-average level of trust and stability due to the following factors:

    • Regulated by multiple top-tier agencies.
    • Operating history over more than two decades.
    • Ownership by a multi-billion dollar, publicly traded company.
    • Good level of transparency.

    Fees

    3.7
    How Did We Test the Broker's Fees and Commissions?
    Broker commissions and fees can be challenging to understand. To simplify this for you, we carefully examined all the broker's fee-related documentation and presented it in a clear, easy-to-understand format. Furthermore, we conducted hands-on tests on spreads and commissions for the most common instruments during both London and New York trading sessions. We then compared these real-time test results to the market benchmark we've established through our extensive experience evaluating the industry.
    fees chart

    Trading costs at FOREX.com vary according to account type. The Standard and MT4 accounts have spreads and swap fees that are average for the industry. More competitive pricing is available via the DMA account type.

    Trading Fees

    Spreads at Forex.com are variable, meaning that they fluctuate slightly. The spread’s size depends on the market’s level of liquidity. Liquidity describes how much an instrument can be bought and sold quickly without moving the market. Traders typically experience tighter spreads when there is greater liquidity in the market.

    Using the Web Trader platform, we measured the spreads at FOREX.com across different asset classes in a Standard account. We tested at 8:00 a.m. GMT and 3:00 p.m. GMT on 3 February 2023. 8:00 a.m. GMT is the London open when there is high liquidity in the forex market and tighter spreads in currency pairs. 3:00 p.m. GMT is a quieter time, shortly before the opening of the New York stock exchange.

    Instrument Spread AM Spread PM
    EUR/USD 1.4 Pips 1.2 Pips
    GBP/JPY 4.5 Pips 5.8 Pips
    Gold 75 Pips 85 Pips
    Light Crude Oil 2.5 Pips 2.5 Pips
    Apple n/a 2 cents
    Tesla n/a 10 cents
    Dow 30 3.5 Pips 2 Pips
    Dax 40 1.2 Pips 1.2 Pips

    Shares are the only asset class where clients must pay a commission. Shares CFD commissions vary by market; for UK and most European and Asian shares, the charge is 0.08% of the consideration. For most US Shares, it is 1.8 cents per share. The minimum commission rates are £10, $10, €10, or 10 SGD.

    Swap Fees

    Swap fees (the cost of holding a position overnight) were about average at FOREX.com.

    In the table below, you can see the Swap Long (the cost/credit of holding a buy position overnight) and the Swap Short (the cost/credit of holding a sell position overnight) for one full-sized contract. A full-sized contract is 100,000 units of the base currency (the first currency quoted in the pair). We recorded the data on 2 February 2023.

    Instrument Swap Long Swap Short
    EUR/USD Charge of GBP 7.20 Credit of GBP 5.60
    GBP/JPY Credit of GBP 9.50 Charge of GBP 12.70

    Non-Trading Fees

    FOREX.com charges an inactivity fee of £12 (or currency equivalent) per month if there is no trading activity or open positions for 12 months or more.

    Are Fees at Forex.com Competitive?

    We judged that the spreads in the standard account are mixed with some instruments such as the Dow 30 Index having competitive spreads, while others such as crude oil are less competitive. Our assessment showed that overnight swap fees are roughly average for the industry.

    Platforms and Tools

    4.6
    How Did We Test the Broker's Trading Platforms?
    We understand that platforms play a crucial role in your trading experience. That's why we spent many hours testing the broker's web, desktop, and mobile trading platforms to gain a real understanding of their usability, functionality, and overall performance. From experimenting with different order types to testing execution speeds, charting, and other features, we thoroughly examined every aspect of these platforms based on our trading expertise, helping you make an informed choice.
    platforms chart

    FOREX.com provides a robust selection of platforms and tools. The flagship Web Trader platform is feature-rich, highly customizable, and includes advanced charts from TradingView. MetaTrader 4 is also available, providing traders with the option of automated trading.

    Web Trader Platform

    Web Trader

    Traders can elect how they want to use the following components to customize their workspace:

    • Watchlists. This tool allows traders to follow their favorite instruments in a single list.
    • Charts. The Web Trader platform uses industry-leading TradingView charts.
    • Newsfeed. Headline market news from Reuters.
    • Open Positions. A list of your open trades.
    • Pending Orders. Orders that are waiting to be executed.
    • Price Alerts. Your list of alerts to let you know when an instrument has reached a set price level.
    • Analysis from Trading Central. Trading ideas and market analysis from the award-winning third-party research provider.
    • Position History. A list of your closed trades.
    • News and Analysis from FOREX.com. The latest stories from the FOREX.com research team.

    In addition, traders can set up multiple workspaces and toggle them between using tabs. Day traders and scalpers can switch to 1-click trading to execute their trades as fast as possible.

    Web Trader Platform Order Entry

    All basic order types, such as market, limit, and stop loss, are available. Traders can apply time-in-force conditions such as Good ‘Til Canceled (GTC) to pending orders. Trailing stop orders and guaranteed stop loss orders are also available. Guaranteed stops can protect traders from black swan events and unexpected market swings, but they incur an additional cost.

    Web Trader Charting

    Advanced charts from TradingView are built into the Web Trader platform. Key features include:

    • Trading from the chart.
    • 88 technical indicators, from the Accumulative Swing Index to the Zig Zag indicator.
    • 32 drawing tools, including Fibonacci retracement and Pitchforks.
    • 14 time frames ranging from 1-minute to monthly charts.
    • 11 chart types, from Japanese Candlesticks to Renko charts.

    Mobile Trading

    FOREX.com Mobile App

    The FOREX.com mobile app is intuitive and feature-rich, allowing traders to trade effectively while on the go. The app enables traders to:

    • Manage account activity, including open positions, trade history, and account balance.
    • Use advanced TradingView charts in landscape or portrait view.
    • Take advantage of push notifications for orders and price alerts.
    • React quickly to market moves with 1-click trading.
    • Stay on top of market news with a feed powered by Reuters.

    MetaTrader 4 Desktop

    MetaTrader 4 Desktop Platform

    Via the MT4 account type, FOREX.com offers MetaTrader 4 for desktop, which includes advanced functions such as copy trading and automated trading.

    MetaTrader 4 is available in 39 languages, from Arabic to Vietnamese. The platform provides popular features such as:

    • Alerts. This feature allows traders to be updated when an instrument reaches a specific price level. The platform can deliver alerts via audio, email, or push notification to a mobile device.
    • Watchlists. Traders can create a list of their favorite instruments and follow live quotes in a market watch panel.
    • One-Click Trading. This feature allows traders to execute orders with a single click and no secondary confirmation. This feature enables traders to operate faster and is especially useful for short-term traders.
    • Trading from the Chart. MT4 also allows users the convenience of trading directly from the chart.
    Order Entry on the MetaTrader 4 Platform

    MetaTrader also delivers when it comes to the range of available order types. The platform offers the following order types:

    • Market Order. Traders use market orders to buy or sell an instrument at the best current price.
    • Limit Order. Traders use limit orders to buy or sell an instrument at a specified price or better.
    • Stop Loss Order. Traders use stop-loss orders to buy or sell an instrument when its price reaches a specified level.
    • Trailing Stop Order. Traders use trailing stop-loss orders as a stop-loss order at a defined percentage or dollar amount away from an instrument’s current market price. Trailing stop orders allows traders to secure profits when they are in a winning trade while not having to exit the position.
    Charting on the MetaTrader 4 Platform

    Charting features are robust. MetaTrader 4 offers:

    • 30 Technical Indicators. These include classic trend indicators, volume indicators, and oscillators.
    • 23 Analytical Objects. These include lines, channels, Gann, and Fibonacci tools.
    • 9 Time Frames. Traders can choose nine time frames, from one minute to one month.
    • 3 Chart Types. Traders can use Bar Charts, Japanese Candlestick Charts, and Line Charts.

    MetaTrader is also popular due to its copy trading and automated trading features.

    • Trading Signals. Signals in MetaTrader 4 allow users to copy other traders’ activity in real-time.
    • Automated Trading. MetaTrader 4 allows users to develop, test, and apply Expert Advisors (EAs). EAs are programs that monitor and trade markets using algorithms.

    The MetaTrader 4 desktop platform is one of the most feature-rich and popular trading platforms. It does not have the most beautiful interface and requires some time and effort to learn, but that is typical of advanced platforms.

    MetaTrader 4 Web

    MetaTrader 4 Web Platform

    MT4 account holders can also access the MetaTrader 4 Web Platform – a slightly stripped-down version of the desktop platform. It allows you to trade without additional software, only an internet connection is required. The Web Platform allows users to trade directly from any browser and operating system.

    Popular features include:

    • One-click trading.
    • Trading from the chart.
    • Watchlists with real-time quotes.
    • Trade History.
    • Advanced charting with 30 indicators for technical analysis.

    Copy and automated trading are also available only on the MT4 desktop platform.

    MetaTrader 4 Mobile App

    MetaTrader 4 Android Mobile App

    FOREX.com also offers MT4 account holders access to the Android MetaTrader 4 app. It offers popular features such as alerts, 1-click trading, and trading from the chart. The MetaTrader 4 mobile app also provides various order types, including pending and stop orders. However, trailing stop-loss orders are only available from the desktop. To change the language of the MT4 app, you must change the language for your entire phone. As with desktop and web, the interface could be more intuitive, but the MT4 app offers an above-average range of features.

    Order Execution

    In the case of a Standard account, FOREX.com is a market maker broker, meaning that they set the bid (buy) and offer (sell) prices internally and automatically take the other side of a client’s trade. In the case of a DMA account, clients pay a standard commission, and FOREX.com routes trades directly to liquidity providers.

    Tradable Instruments

    5
    How Did We Test the Broker's Tradable Instruments?
    For this section, we examined the broker's market offering, assessing the variety and depth of instruments and asset classes available for trading. Through our proprietary database, we then compared the results with other brokers. This comprehensive analysis allows you to determine if the broker offers the specific instruments and trading options you're looking for.
    tradable_instruments chart

    FOREX.com excels in tradable instruments, and only a handful of CFD brokers can compare with the scope offered.

    Clients can access trading in CFDs on forex, commodities, indices, stocks, and cryptocurrencies. FOREX.com goes above and beyond by offering CFDs in ETFs, bonds, sectors, and thematic indices.

    CFDs (Contract for Difference) are financial derivative products that allow traders to speculate in various markets without owning the underlying assets. Tradable instruments at FOREX.com include the following:

    • 84 Currency Pairs. A currency pair combines two different currencies, with the value of one currency quoted against the other. For example, EUR/USD, which reflects the value of the euro measured in dollars.
    • 26 Commodity CFDs. Commodities are raw products, such as gold and oil.
    • 5,500 Global Stock CFDs. A stock is a security that represents partial ownership of a corporation. Keep in mind that when trading stock CFDs, you are speculating on the price of a stock without actually taking ownership of the underlying company.
    • 38 Index CFDs. An index is a basket of trading instruments used to gauge a market sector, stocks within an exchange, or a country’s economy.
    • 12 Cryptocurrency CFDs. Cryptocurrencies, such as Bitcoin, are digital currencies secured by cryptography.
    • 26 ETF CFDs. Exchange-traded funds (ETFs) are financial instruments that track an index or sector and trade like a stock on an exchange.

    Note: The UK FCA banned the sale of crypto derivatives to retail clients in 2021. Retail clients in the UK cannot trade cryptocurrency CFDs, but the market is open to clients classified as professionals.

    Below is a sampling of instruments across the various asset categories.

    Major Forex CFDs Minor Forex CFDs
    USD/JPY | EUR/USD | USD/CHF EUR/GBP | AUD/JPY | GBP/CHF
    Exotic Forex CFDs Commodity CFDs
    USD/THB | USD/TRY | EUR/HUF Heating Oil | Gold | Coffee
    Cryptocurrency CFDs Index CFDs
    Dogecoin | Solana | Cardano Green Index | UK 100 | India 50
    Share CFDs ETF CFDs
    Rolls Royce | Adidas | Intel SPDR Gold Trust | ARK Innovation ETF | iPath S&P 500 VIX B Series
    Bond CFDs Sector CFDs
    Euro Bund | US Ten Year T-Note | BTP Italian Bonds UK Finance Sector | UK Utilities Sector | UK Energy Sector

    Overall, we judged that FOREX.com has an impressive range of tradable instruments, well above average for the industry.

    Customer Support

    4.6
    How Did We Test the Broker's Customer Support?
    Traders often underestimate the importance of customer support, yet it proves to be a critical aspect during times of crisis. We put the broker's customer support to the test ourselves using all possible channels, such as chat, phone, and others. Our evaluation focused on the accessibility of live agents, as well as the helpfulness and professionalism of their responses. This way, we provide you with comprehensive insights into whether a broker can deliver full support when you need it most.
    customer_support chart

    FOREX.com offers 24/5 support via live chat, phone, and email. In our tests, we experienced high-quality support, with short wait times and helpful agents.

    Chat Support within the Web Trader platform

    When contacting support via chat, users must first navigate questions from a chatbot, but if it cannot address their concerns, they are transferred to a live agent. We experienced short wait times, and support took care to answer queries thoroughly.

    By phone, again, there are some automated questions that clients must answer before reaching a live agent. Operators could answer complex inquiries relating to regulation in different countries. Finally, we received fast and satisfactory responses via email, sometimes on the same day.

    Overall, our assessment reflected that FOREX.com has better customer support than the average for the industry.

    Customer Support Languages
    Chinese | Japanese | English | Spanish | Polish | Arabic | German | Russian | French

    Deposits & Withdrawals

    5
    How Did We Test the Broker's Deposit and Withdrawal Process?
    The deposit or withdrawal process can be tricky since you may encounter hidden fees or longer than expected processing time. To assess the broker's offerings, we examined their deposit and withdrawal options and conditions. Using our proprietary database, we then compared these results with those of other brokers.
    deposit chart

    FOREX.com offers a solid range of deposit and withdrawal methods. Processing times are fast, and the broker does not charge any deposit or withdrawal fees.

    FOREX.com clients can make deposits and withdrawals via bank wire, credit/debit cards, or PayPal.

    Deposits

    Deposits are typically available instantly, except for bank wire. Bank wires can take up to 1-2 days to be processed.

    Method Minimum Transaction Maximum Transaction Accepted Currencies Typical Processing Time Fees
    Credit or Debit Card £100 (or currency equivalent) £99,999 (or currency equivalent) USD, EUR, CAD, JPY, CHF, AUD, GBP Immediate 0%
    PayPal £100 (or currency equivalent) £50,000 (or currency equivalent) EUR, GBP, USD Immediate 0%
    Wire Transfer None None USD, EUR, CAD, JPY, CHF, AUD, GBP Up to 1-2 business days 0%

    Note: FOREX.com does not charge any fees for incoming card deposits. Your card-issuing bank may charge you a cash transaction fee if it treats your transaction as a cash transaction. FOREX.com does not charge incoming wire fees. However, your bank may charge a service fee.

    Withdrawals

    Withdrawals via credit/debit card and PayPal are immediate. Bank wires take 1-2 business days to process.

    Method Minimum Transaction Maximum Transaction Typical Processing Time Fees
    Credit or Debit Card £100 (or currency equivalent) £100,000 (or currency equivalent) Immediate 0%
    PayPal £100 (or currency equivalent) £20,000 (or currency equivalent) Immediate 0%
    Wire Transfer £100 (or currency equivalent) None Up to 1-2 business days 0%

    Note: The normal processing time is typically up to 1-2 business days. However, if further information is required, the processing time may be extended. Also, keep in mind that your bank may take additional time to credit the funds to your account.

    Account Types and Terms

    4.9
    How Did We Test the Broker's Account Types and Terms?
    When it comes to achieving your trading goals, choosing the proper account is essential. We initiated our evaluation by personally opening an account with the broker, which allowed us to gain firsthand experience of the process and accurately asses, how fast and easy it is. In addition, we carried out an in-depth analysis of the account types and features offered by the broker, including spreads, maximum leverage, minimum deposits, and more. For a comprehensive comparison, we turned to our proprietary database and examined how this broker's account offerings and processes stacked up against other brokers.
    account chart

    FOREX.com offers three main account types to cater to different trader profiles: the Standard Account, MT4 Account, and DMA account. Spreads are the same between Standard and MT4 accounts, and more competitive spreads are available via the DMA account.

    Forex.com Online Application

    Standard Account

    The Standard Account uses the proprietary Web Trader platform and FOREX.com mobile app. Tools such as Trading Central and Performance Analytics are available via the Standard account.

    When opening a Standard Account, clients must provide the following information:

    • Country or region of residence.
    • Email address.
    • First name, last name, and date of birth.
    • Phone number, and address.
    • Citizenship, and country and town/city of birth.
    • Country of tax residency.
    • Employment status.
    • Trading experience (Shares or bonds, Futures, options or ETFs, CFDs or margined FX).
    • Total annual income, total savings & investments, source of wealth.
    • Planned initial deposit, and source of funds.

    MT4 account

    This account provides clients with access to the popular MetaTrader 4 platform. Reuters news and Trading Central are integrated. Traders can use Expert Advisors (EAs) – programs to automate trading and analysis. Free VPS hosting is also an option for qualifying clients. MT4 account holders can also access over 20 apps with custom indicators, Expert Advisors, and chart-in chart view via FX Blue. Trading in micro-lots is available, allowing new traders to start trading small and minimize their risk.

    Note: CFDs on shares are not available on the MT4 account.

    DMA Account

    The DMA (Direct Market Access) account is designed for advanced, high-volume FX traders seeking direct pricing from top-tier liquidity providers. It gives traders access to multiple levels of liquidity displayed in real-time. Clients can trade on prices sourced from global banks and top-tier liquidity providers. Traders pay a commission and can earn discounted commissions based on their trading volume. The DMA account uses the Web Trader platform.

    Corporate Account

    FOREX.com offers corporate accounts that enable multiple authorized traders for one account.

    Leverage

    One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. Leverage is using borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account.

    A standard account offers a maximum of 1:30 leverage. An account funded with $1,000 and 1:30 leverage allows traders to control up to $30,000 worth of positions in the market. Traders can apply for a professional account, which offers higher leverage, but the costs and platform are the same.

    Investors with a professional account can trade with a maximum leverage of 1:400. With this degree of leverage, you can control up to $400,000 worth of positions in the market with just $1,000. To qualify for a professional account, traders must show a financial portfolio of over €500,000 and relevant financial experience.

    Leverage is often described as a ‘double-edged sword’ because it can amplify your profits and losses. Leveraged trading comes with a high level of risk and can often result in significant losses.

    Demo Accounts

    A free 30-day demo account allows you to hone your skills without risking any money.

    Islamic Accounts

    FOREX.com also offers a swap-free Islamic account that adheres to the principles of Sharia law.

    Supported Countries

    FOREX.com accepts clients from the majority of countries globally. However, residents of Belgium, France, Czech Republic are restricted. FOREX.com also does not take clients from FATF (Financial Action Task Force) countries North Korea and Iran.

    Research

    5
    How Did We Test the Broker's Research Tools?
    Research options offered by brokers may not be seen as the most important feature for some traders, but they can provide a competitive advantage. To assess the broker's research offerings, we personally explored and tested both proprietary and third-party tools and content, such as Fundamental and Technical Analysis, Market News, educational videos, and webinars. After evaluating the availability and quality of the overall research offering, we compared the results with our benchmark to provide a comprehensive analysis of the broker's research capabilities.
    research chart

    FOREX.com provides market analysis, trade ideas, and webinars from a seasoned group of in-house contributors. Award-winning third-party research materials are also available from Trading Central.

    News and research

    FOREX.com provides high-quality research covering major news stories and market themes. Coverage is mainly from a fundamental perspective, but the analysis also touches on technical levels and chart patterns. The ‘Week Ahead’ report is a valuable reference, keeping clients updated on key upcoming events and how they may impact the markets. The analysis is in-depth and insightful, and we judged that it is better than average.

    Trading Central in the Web Trader Platform

    Analysis from Trading Central, within the Web Trader platform, has three major categories:

    • Technical Insight provides actionable technical analysis, educational guidance, and customizable alerts.
    • Market Buzz helps traders see what is driving markets with compelling data visualizations.
    • Analyst Views combines proprietary pattern recognition with the expertise of senior market analysts.

    We rate Trading Central as a valuable tool with plenty of actionable ideas for traders to draw from.

    Education

    5
    How Did We Test the Broker's Education Offering?
    Gaining knowledge about trading in the financial markets can make the difference between success and failure. To assess the broker's educational offerings, we personally tested and evaluated the quality of the content provided, considering its relevance for both novice and experienced traders. We explored the range of materials available, such as articles, videos, webinars, and courses. After evaluating the content's volume, update frequency, and overall quality, we compared the results with our benchmark to provide a well-rounded analysis of the broker's education offerings.
    education chart

    FOREX.com provides interactive courses within its Trading Academy that cater to beginners and advanced traders. The Trading Academy also features platform tutorial videos, individual lessons, and webinars.

    FOREX.com Academy Courses

    Courses within the FOREX.com Academy are broken down by experience level: beginner, intermediate and advanced. The courses are accessible via the website, and Progress tracking and test questions are built in. Material ranges from the basics of CFD trading to advanced topics within technical analysis. Course material combines text and video, and we judged the quality to be very good overall.

    Platform Tutorials

    The video-based platform tutorial section is an excellent resource for guiding clients through making the most of the Web Trader platform, MetaTrader 4, and the FOREX.com mobile app. Live webinars round out the educational offerings with presentations covering dynamic topics like trading the Non-farm Payrolls economic release.

    The Bottom Line

    If you’re looking for a solid all-around broker that can cater to various trader profiles, FOREX.com might be for you. Very few forex and CFD brokers can compare to its level of stability, platforms, instruments, and educational and research resources. The range of additional tools, such as Trading Central, FX Blue, and Trading Analytics, is also impressive.

    Nevertheless, we judged that there is room for improvement in two areas. Firstly, the spreads in the Standard account are not highly competitive in some cases (for example, an average spread of over five pips in GBP/JPY in our tests). Secondly, while the Web Trader platform is robust and feature-rich, its design could be more intuitive and user-friendly to accommodate casual traders or beginners better. Overall, we rate FOREX.com as a strong broker, with an offering that reflects the wealth of experience it has gained from over two decades in the industry.

    FAQ

    The company headquarters are in Bedminster, New Jersey, USA.
    FOREX.com is owned by StoneX, a publicly traded company (NASDAQ: SNEX). Multiple top-tier regulators regulate the subsidiaries of Forex.com. Based on this, we rate the company as one of the safest Forex and CFD brokers.
    Forex.com makes money from the bid/offer spread, commissions, swap fees, and miscellaneous account-related fees.
    Clients can deposit funds via bank wire, credit/debit card, or PayPal.
    The minimum deposit to open an account is 100 units of your local currency.
    Clients can withdraw funds via bank wire, credit/debit card, or PayPal.
    Withdrawals via credit/debit card and PayPal are processed immediately. Withdrawals via bank transfer typically take 1-2 business days to process.
    Available leverage varies by region. For residents of the United Kingdom, the maximum leverage for retail accounts is 1:30.
    You can open an account via the Forex.com website within 5 to 10 minutes.
    There are no withdrawal fees.
    With strong educational materials and a free demo account, we rate FOREX.com as a good choice for beginners.
    1-click trading and fast order execution make FOREX.com a strong choice for scalpers.
    Yes, FOREX.com clients can automate their trading via the MetaTrader platform.
    Forex.com could undoubtedly be used for hedging positions in the market.
    Yes, the MetaTrader 4 platform is available via the MetaTrader account type.
    No, it does not.
    Yes, VPS hosting is available via the MT4 account type.
    For Standard and MT4 account types, the market maker execution model is used.
    Forex.com is owned by StoneX Group Inc.
    Yes, gold and many other CFDs on commodities are available at FOREX.com.
    Yes, Forex.com does take clients in the United States.
    FOREX.com offers the proprietary Web Trader platform, MetaTrader 4, and the FOREX.com mobile app.
    Yes, a free 30-day demo account is available for the Web Trader platform, MetaTrader, and the FOREX.com mobile app.

    See Forex.com International Full Information

    Headquarters CountryCyprus
    Foundation Year2001
    RegulationsFCA (United Kingdom), ASIC (Australia), NFA (United States), JFSA (Japan), MAS (Singapore), SFC (Hong Kong), CIMA (Cayman Islands), CySEC (Cyprus), IIROC (Canada)
    Publicly TradedYes
    Number Of Employees501
    Trading Desk TypeMarket Maker
    Trading PlatformsMT4, WebTrader
    Restricted Countries
    Czech Republic, France, Belgium, North Korea, Iran
    Supported Languages
    English, Russian, French, Polish, Arabic, Spanish, Chinese, Japanese, German
    Min Deposit$100
    Max Leverage1:30 (FCA), 1:30 (ASIC), 1:50 (NFA), 1:25 (JFSA), 1:20 (MAS), 1:20 (SFC), 1:250 (CIMA), 1:30 (CySEC ), 1:45 (IIROC)
    Deposit OptionsWire Transfer, Credit Card, PayPal, Visa, Mastercard
    Withdrawal OptionsWire Transfer, Credit Card, PayPal, Visa, Mastercard
    Time to Withdrawal1
    Time to Open an Account8
    Crypto
    Ethereum, Bitcoin, Litecoin, Ripple
    Products
    Currencies, Stocks, ETFs, Crypto, Indices, Commodities
    Demo AccountYes
    OCO OrdersNo
    Offers HedgingYes
    Automated TradingYes
    API TradingNo
    Guaranteed Stop LossYes
    Guaranteed Limit OrdersYes
    Guaranteed Fills / LiquidityYes
    Economic calendarYes
    Trading From ChartYes
    One-Click TradingYes
    Expert AdvisorYes
    Social TradingYes
    AutochartistNo
    Trading SignalsYes
    Platform Languages
    English
    24 Hours SupportYes
    Support During WeekendsNo
    Live ChatYes
    Daily Market CommentaryYes
    News (Top-Tier Sources)Yes
    WebinarsYes
    Deposit FeeNo
    Withdrawal FeeNo
    Inactivity FeeYes

    About the Author

    Dan BlystoneBroker Analyst

    Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.

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