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Broker Review: Is FOREX.com a solid Broker?
Abstract：FOREX.com has played a significant role in the forex trading industry for decades. WikiFX created a comprehensive review to help you better understand this broker. We will analyze its reliability based on specific information, regulation, etc. Let’s get into it.
In this article
WikiFX provides inquiry services in the forex field.
WikiFX evaluates the reliability of FOREX.com based on the facts.
What is WikiFX?| WikiFX is an authoritative global inquiry platform that provides basic information and regulatory license inquiries. |
| WikiFX can evaluate the safety and reliability of more than 59,000 global forex brokers. |
| WikiFX gives you a huge advantage while seeking the best forex brokers. For more information, such as the review and exposure of brokers, please visit our website (https://www.WikiFX.com/en) |
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.
| Account Type | Spread | Commission |
| Standard | Variable, EUR/USD as low as 1.0 pips | Only for quities |
| Raw Spread | Tightest, majors as low as 0.0 pips | Fixed 5 per 100k USD traded on FX |
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).
| Regulated Country | Regulated Authorities | Regulated Entity | License Type | License Number |
| Australia | ASIC | STONEX FINANCIAL PTY LTD | Market Making (MM) | 345646 |
| UK | FCA | Gain Capital UK Limited | Market Making (MM) | 113942 |
| Japan | FSA | GAIN Capital Japan Co, Ltd | Retail Forex License | |
| USA | NFA | GAIN CAPITAL GROUP LLC | Market Making (MM) | 0339826 |
| Canada | CIRO | GAIN CAPITAL-FOREX.com Canada Ltd | Market Making (MM) | Unreleased |
| Singapore | MAS | STONEX FINANCIAL PTE.LTD. | Retail Forex License | Unreleased |
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.
| The Scoring Criteria of Brokers on WikiFX |
| License index: reliability and value of licenses |
| Regulatory index: license regulatory strength |
| Business index: enterprise stability and operational capability |
| Software index: trading platform, instruments, etc |
| Risk Management index: the degree of asset security |
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.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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