Broker Review: Is FOREX.com a solid Broker?

In this article

WikiFX provides inquiry services in the forex field.

WikiFX evaluates the reliability of FOREX.com based on the facts.

To explore whether FOREX.com is a scammer or not, we evaluated FOREX.com from different aspects, such as regulatory status.

1. Evaluate the reliability of FOREX.com based on its general information and regulatory status

To understand FOREX.com better, we explore FOREX.com by analyzing the main perspectives:

A. General Info of FOREX.com

B. Regulatory Status

C. Social Media Engagement

A. General Info of FOREX.com

FOREX.com s general info is shown below:

(source: WikiFX)

About FOREX.com

Registered in the USA, FOREX.com was founded in 2001, FOREX.com is a major player om the industry. Its parent company is called GAIN CAPITAL. It provides various options including forex, indices, stocks, cryptocurrency, commodities, gold & silver. FOREX.com is a favored choice for professionals looking for an all-encompassing trading experience.

Minimum Deposit

The minimum deposit amount required to register a FOREX.com Standard live trading account is $100, which is quite friendly to most investors.

Accounts

FOREX.com offers its clients two types of trading accounts: the Standard account and the Raw Spread account.

Spreads & Commissions

Forex.com offers competitive spreads and low commissions on a wide range of trading instruments. Spreads for the EUR/USD currency pair is floating around 1.0 pips, which is very low compared to other brokers. You can find spreads on other pairs in the screenshot below

Trading Platforms

FOREX.com offers a variety of trading platforms designed to cater to the diverse needs of its traders, from beginners to experienced market participants.

MetaTrader 4 (MT4): Widely recognized as the industry standard for forex trading, MT4 is favored for its advanced charting capabilities, automated trading features through Expert Advisors (EAs), and extensive back-testing environment. FOREX.com enhances MT4 with additional tools and research to optimize trading.

MetaTrader 5 (MT5): As the successor to MT4, MT5 offers all the admired features of MT4 but with additional capabilities such as more timeframes, more technical indicators, advanced charting tools, and supports trading in stocks, commodities, and futures markets along with forex.

TradingView: TradingView is a premium business utility that offers a free demo of its trade charting platform. The app is simple for beginners and effective for technical analysis experts.

Web Trading Platform: Accessible directly from a web browser without the need to download or install any software, this platform is built on HTML5 and offers a rich set of features including powerful charts, a suite of trading tools, and integrated trading strategies.

Mobile Trading Apps: FOREX.com provides mobile applications compatible with Android and iOS devices, allowing traders to manage their accounts on the go. These apps offer full trading capabilities, complex order types, and interactive charts.

Deposit & Withdrawal

FOREX.com offers several payment methods for depositing and withdrawing funds, such as credit cards, wire transfers, Skrill, and Neteller.

B. Regulatory Status

The legitimate license of FOREX.com

FOREX.com is a regulated broker. FOREX.com is a regulated broker. It is considered a globally recognized broker. It is part of an international holding company regulated by reputable authorities worldwide, including ASIC (Australia), FCA(UK), FSA(Japan), NFA(USA), CIRO (Canada), and MAS (Singapore).

C. Social Media Engagement

FOREX.com has official accounts on major social media platforms. These accounts are used to regularly publish promotional activities, including lectures by industry experts.

2. Special survey about FOREX.com from WikiFX

A. Scoring Criteria

WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

FOREX.com has been given by WikiFX a decent rating of 9.55/10.

B. Field Investigation

• To help you fully understand the broker, WikiFX also investigates the brokers by sending surveyors to the brokers physical addresses.
• On WikiFX, you can visually check the physical addresses of brokers by pressing the “Survey” button.
• WikiFX did make an on-site survey on this broker in 2021 and successfully found their office.

3. Conclusion

It is no doubt that FOREX.com is a solid and regulated broker. With its reputation in the industry and its focus on security and protection of client funds, FOREX.com is an attractive option for traders looking for a reliable and secure broker.