Forex.com – Scam or Safe?

Trading Accounts & Conditions

Leading US broker Forex.com offers a single account type on several trading platforms. The broker provides commission-free trading with variable spreads and the option to use micro lots.

In addition, Forex.com offers swap-free accounts to investors of Islamic belief, as well as free demo ones for 30 days after sign up.

Forex.com (US) Advantages

Regulated in the US and other countries

Forex.com belongs to the Gain Capital group. Gain Capital meets high standards of corporate governance, financial reporting, and disclosure. The parent company of the major FX brand Forex.com, GAIN Capital Holdings, Inc. is a registered Futures Commission Merchant (FCM) and Retail Foreign Exchange Dealer with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA).

Besides, its subsidiaries are properly licensed in the countries of their operation:

Apart from Forex.com, Gain Capital Group is operating the brands City Index, GTX, Gain Capital, FinSpreads, and others.

The largest broker in the US

Not only that Forex.com is regulated in the United States, but it is actually the largest forex broker in the country. Forex.com became the undeniable leading provider of financial services in the US.

Actually, a very few brokers have remained active on the strictly regulated US market: Oanda, Interactive Brokers, and TD Ameritrade.

Competitive spreads

Forex.com offers commission-free trading with variable spreads, the average ones on EUR/USD amounting to 1.4 pips, which is rather competitive pricing. By comparison, the cost of trading at Oanda, another US broker, is exactly the same.

Low minimum investment required

In order to open an account with Forex.com, one has to invest just $50. Almost everyone can afford such an investment.

Several top-notch trading platforms available

Leading US broker Forex.com offers a single account type on several trading platforms. The broker provides commission-free trading with variable spreads and the option to use micro lots.

Actually, this piece of trading software is as sophisticated and customizable as the MT4. Its professional-grade trading tools include top-notch interactive charting with more than 100 predefined indicators, as well as the option to create some of your own. There are also a number of Integrated trading strategies, which are also customizable. Besides, users can code their own trading strategies (in C++), there is a back-testing excel tool available, and signals trading. Here is a snapshot of the platform:

Various payment methods, fast withdrawals

Yet another thing we like about Forex.com (US) is the fact that it supports several convenient payment methods, and namelY Debit Card, Wire Transfer, ACH, and Checks. What is even more important from a client’s point of view, withdrawals are processed pretty fast – within 48 hours.

Bonuses available

Last but not least, Forex.com (US) offers cash rebates for high volume traders. The latter are able to get rebates up to $10 per million traded.

Forex.com (US) Disadvantages

 Leverage capped to 1:50

Actually, this is not a weak side of the broker itself, but a legal requirement in the US. Brokers operating in the country are not allowed to provide leverage of more than 1:50, and Forex.com simply complies with the regulatory requirements.

Conclusion

Forex.com (US) is the largest US broker and one of the few actively operating in the country. A market leader offering to trade in more than 80 forex pairs and CFDs, it has serviced over 200,000 customers globally.