FOREX.COM REVIEW 2024: THE ULTIMATE GUIDE TO TRADING, FEATURES, AND MORE

Forex.com is a globally recognized forex and CFD broker, known for its robust trading platforms, extensive educational resources, and reliable customer support. This comprehensive review covers all aspects of Forex.com, from general information and trading features to regulations and customer service. Whether you are a seasoned trader or a beginner, this guide will help you decide if Forex.com is the right broker for you.

General Risk Warning

Trading financial instruments such as forex and CFDs carries a high level of risk and may not be suitable for all investors. Before deciding to trade with Forex.com, it's important to understand the risks involved and seek independent financial advice if necessary.

Forex.com Full Review

Forex.com offers a comprehensive suite of trading services designed to meet the needs of traders worldwide. This full review explores the broker’s features, account types, trading platforms, and overall user experience.

General Information & First Impressions

Forex.com was established in 2001 and has since grown to become a leading online trading platform. It is part of StoneX Group Inc., a publicly traded company on the NASDAQ. The platform is well-organized, user-friendly, and offers a wide range of trading instruments including forex, commodities, indices, and cryptocurrencies.

Forex.com Pros and Cons

Pros:

• Regulated by multiple authorities (CFTC, NFA, FCA, ASIC, FSA, CIRO, SFC)
• Competitive spreads and low fees
• Wide range of tradable instruments
• Advanced trading platforms (MT4, MT5, Web Trader)
• Strong educational resources

Cons:

• Inactivity fees
• Limited customer support hours

Who Is Forex.com For?

Forex.com is suitable for both beginner and experienced traders. Beginners will benefit from the extensive educational resources and user-friendly platforms, while experienced traders will appreciate the competitive spreads, diverse trading instruments, and advanced trading tools.

Account Types and Benefits

Forex.com offers several account types to cater to different trading needs:

Forex.com Trading Platforms

Forex.com provides access to several advanced trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and its proprietary Web Trader platform. These platforms are renowned for their advanced charting tools, technical indicators, and automated trading capabilities. Both platforms are available for desktop, web, and mobile devices, ensuring that traders can access their accounts and manage trades from anywhere.

Forex.com Mobile Trading

The Forex.com mobile app delivers a seamless trading experience on the go. Available for both iOS and Android devices, the app offers full account management, advanced charting, and one-click trading. Traders can stay connected to the markets and manage their portfolios anytime, anywhere.

Forex.com Trading Features

Forex.com offers a range of features designed to enhance the trading experience:

• Advanced Charting Tools: Access to multiple chart types and technical indicators.
• Multiple Order Types: Market, limit, stop-loss, and trailing stop orders.
• Automated Trading: Support for Expert Advisors (EAs) on MT4 and MT5.
• Risk Management Tools: Negative balance protection and customizable leverage settings.

Forex.com Research & Education

Forex.com provides extensive research and educational resources, including market analysis, trading guides, webinars, and tutorials. These resources are designed to help traders of all levels improve their trading skills and make informed decisions.

Forex.com Regulations & Licensing

Forex.com is regulated by multiple financial authorities around the world, ensuring high standards of security and transparency:

• United States: Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA)
• United Kingdom: Financial Conduct Authority (FCA)
• Australia: Australian Securities and Investments Commission (ASIC)
• Japan: Financial Services Agency (FSA)
• Canada: Canadian Investment Regulatory Organization (CIRO)
• Hong Kong: Securities and Futures Commission (SFC)
• Cayman Islands: Cayman Islands Monetary Authority (CIMA)

Forex.com Pricing

Forex.com offers competitive pricing with tight spreads and low commissions. The fee structure varies by account type, with the Standard account having no commission and the Commission and DMA accounts offering lower spreads with a commission.

Forex.com Deposits & Withdrawals

Forex.com supports a variety of deposit and withdrawal methods, including bank transfers, credit/debit cards, and e-wallets. Processing times are generally quick, with most deposits being instant and withdrawals processed within 1-3 business days.

Customer Support

Forex.com provides robust customer support through multiple channels, including live chat, email, and phone support. The support team is responsive and knowledgeable, assisting with a wide range of inquiries from account setup to technical issues.

Forex.com Trading Experience

Traders with Forex.com can expect a smooth and efficient trading experience. The platforms are user-friendly, and the trading conditions are competitive. Additionally, the availability of MT4 and MT5 allows for flexible trading strategies and automated trading.

Forex.com Bottom Line

Forex.com stands out for its advanced trading platforms, competitive trading conditions, and strong educational resources. While it may have some drawbacks, such as inactivity fees, it offers a robust trading environment suitable for both beginners and experienced traders.

Forex.com Spreads

Forex.com Swap Fees

Possible to Trade NFT?

As of 2024, Forex.com does not support direct trading of NFTs (Non-Fungible Tokens). Traders interested in NFTs may need to look for specialized platforms that focus on digital assets and collectibles.

Broker Details

Forex.com operates under the StoneX Group Inc. and is regulated by multiple financial authorities globally. The broker provides a variety of trading instruments and platforms, catering to both novice and experienced traders.

Contact Info

Forex.com offers multiple ways to get in touch with their support team:

• Email: [email protected]
• Phone: +1 877 367 3946
• Live Chat: Available on the Forex.com website

Forex.com vs. eToro

When comparing Forex.com to eToro, several differences stand out. Forex.com offers a more traditional trading experience with competitive spreads and advanced trading tools. In contrast, eToro is known for its social trading features, allowing users to follow and copy trades from experienced investors. While both brokers cater to a wide range of traders, those seeking a social trading experience may prefer eToro, whereas traders focused on competitive pricing and advanced tools may find Forex.com more appealing.

Forex.com in 2024: What is New?

In 2024, Forex.com has introduced several new features and improvements to enhance the trading experience. These include the launch of a new, more intuitive trading platform, additional trading instruments, and enhanced customer support services. The broker has also expanded its educational resources, providing more webinars, tutorials, and market analysis to help traders make informed decisions.

FAQ