To enter Forex market, you need to find a broker which suits your trading strategy. Forex.com is a worldwide online broker that offers retail Forex and CFD traders a comfortable trading environment. This brokerage is regarded as one of the most reputable in the world and works with customers in more than 140 countries. This article will present this brokerage and its capabilities in great detail
Description of the Forex.com brokerage
GAIN Capital Holdings is the owner of Forex.com, which has been operating as an international online broker under this firm since 2001. This brokerage serves customers in over 140 countries and is regulated by CIMA and the FCA. With more than two decades of expertise in forex trading, Forex.com Brokerage now provides trading in indices, commodities, equities, and digital currencies to retail and forex investors. This broker is an excellent alternative for newbie and expert traders who are mainly concerned with order execution speed. Internationally, FOREX.com provides a vast array of products, including CFDs and futures on many market levels; however, not all of these products are available in all regions. Among the available trading instruments are commodities, indices, individual stocks, bonds, ETFs, gold and silver (unleveraged in the United States), cryptocurrencies, and futures.
Who is the FOREX.com broker appropriate for?
The FOREX.com broker is an excellent choice for traders who want to trade a broad variety of assets and high-volume trading instruments. As said, the variety of items is extensive; however, not all of them are available in every location. Traders that need swift order execution, a dependable broker, a robust trading platform, and a secure account may select this broker with confidence.
Advantages:
- Providing a wide range of products
- Features advanced Trading View charts on web-based platform
- Regulated by FCA (UK) and CFTC, NFA (US)
- Protect customers’ U.K./E.U. accounts
- Discounts for high-volume traders
- The average order execution speed is 0.04 milliseconds
- Narrow spreads on over 90 assets, including currency pairs and metals, and over 4,500 markets, including FX, indices, commodities, stocks, and cryptocurrencies
FOREX.com trading space
The FOREX.com brokerage trading platforms are intended to suit both professional and active day traders. This brokerage now prioritizes the exclusive Forex.com platform; however, traders may also trade on the MT4 and MT5 platforms. All platforms are accessible through the website and mobile application. Those who want to use the mobile application should instead use the FOREX.com or MT4 platform.
These platforms provide traders with access to charts, economic calendars, news, positions, and trade/order history, as well as trading signals, research reports, and market analysis from FOREX.com analysts. These platforms have no notable drawbacks, and with indicators and charting tools, they have evolved into an excellent environment for analytical and technical traders.
Traders may instantly trade from the charts by right-clicking and choosing “Trade” or by clicking the “Buy” and “Sell” buttons above the chart. This brings up a window where you can set the entry, loss limit, and profit limit. Traders may also facilitate the speedy execution of deals by conducting “one-click trades”. The FOREX.com platform has four main types of orders, each of which has options for profit limit and loss limit. Account holders on the Forex.com platform may link their accounts to the Ninja Trader platform.
Application for mobile
The trading platform offered by this brokerage has a very useful application that allows users to view all of their account information. With the app, users can:
- Deposit or withdraw funds to your account
- View your trading history
- Set your own watch list
- accessibility to news
- View all types of charts
- Easily customize any of the options
In the app version, less basic indicators like RSI, MACD, and moving averages are accessible, but charting features and more sophisticated technical tools are absent.
Research infrastructure
By offering research and market insights, this brokerage has been able to align itself with the other competitors in this sector. This brokerage provides its customers with the Trading Central platform in alignment with its educational objective. The platform as a third-party broker gives consumers access to market analysis articles, Reuters news feed, exclusive news, economic calendar, and technical analysis reports.
client services
Customers of this brokerage have several options for getting in touch with the support staff, including live phone assistance and online chat. Although the brokerage has social media profiles where it posts market research and corporate information, social media support is presently not available.
Account types at FOREX.com
Customers at this brokerage have a choice among six different account kinds based on their trading objectives. Each account has a distinct spread and fee amount.
Demo account:
This sort of account is provided as a free trial to novice traders so they may acquaint themselves with the price structure and various trading methods prior to becoming potential clients. This account has a 30-day duration and will expire after 30 days, at which point the user must convert to a real account.
Standard account:
Standard account: These organizations regulate this account: CySEC, FCA, NFA, CFTC, IIROC, and CIMA. Standard account users will have access to more than 4,500 assets, such as foreign exchange, equities, cryptocurrencies, commodities, and indices. The spread for this account is variable and begins at 0.8 pips. The opening deposit requirement for this account is $100.
Commission account:
Traders aiming for low spreads and fixed commissions can open a commission account. This account is governed by the NFA, the CFTC, and the CIMA. Similarly to ordinary accounts, traders with commission accounts will have access to more than 4,500 assets. This account’s floating spread begins at 0.2 pips, and a $5 fee is levied for each traded lot. Traders with a commission account are permitted to use the Active Program (a program designed for active traders that offer discounts on spreads). The opening deposit requirement for this account is $100.
DMA account:
Traders using this account will have access to Forex, stocks, cryptocurrencies, commodities, and index trading tools. For these transactions, no spreads are paid and only a regular fee is paid. Traders using this account are eligible for a discount according to their trading volume.
Professional account:
Professional account: This account, as its name implies, is appropriate for professional traders and is subject to FCA regulation. This account’s features include access to more than 4500 assets, including FX, equities, cryptocurrencies, commodities, and indexes. Trading’s floating spread begins at 0.8 pip, and a particular commission is assessed for holding a trade open overnight. This account has a minimum opening deposit of $100.
Islamic account:
This account is developed specifically for Muslim traders and is governed by CySEC, FCA, NFA, CFTC, IIROC, and CIMA. This account’s floating spread begins at 0.8 pips, and spreads cannot go larger. Beginner traders also have access to an Islamic demo account.
Final word:
In this article, we presented and evaluated the FOREX.COM brokerage’s features. This brokerage offers an extensive selection of goods and a superior trading platform for all sorts of traders. Because this brokerage is regulated by the world’s most prestigious financial and legal organizations, many traders identify it as a safe and trustworthy brokerage.