Detailed Forex.com Review
FOREX.com company is a part of a large financial holding GAIN Capital. The dominant company is represented on the New York Stock Exchange, and its missions offices are open in Asia, Europe, the USA and the CIS. The capitalization of the holding exceeds ten billion dollars.
It is noteworthy that FOREX.com was founded in 1999. But at that time there was no talk about online access in financial instruments for users. Today, this broker serves over 200 thousand investors and traders who are engaged in online trading through the Metatrader trading terminal.
The peculiarity of this company lies in the fact that over 280 financial instruments are presented to the choice of users. There are about 100 CFDs and 80 currency pairs among them. To meet the demand for new asset categories, the company opened access to cryptocurrency in 2018. Also, according to the market requirements, a new web platform Trading View was introduced, which is accessed directly from the official site.
The presence of a domain such as FOREX.com in a company is already an indicator of status, reputation and reliability. The broker has received over ten licenses from regulators from various countries, including the UK, Germany, France, USA, Australia, and Hong Kong.
Account Types and Trading Terms
The company FOREX.com has established spreads in the amount of 1 to 10 points, depending on the selected group of assets. But for some rare currency pairs, the spread can reach 150 pips. This partly eliminates the possibility of using the scalping tactics, where a minimum commission for executing trades is required.
But the company introduced the Active Trader system, in which a gradual increase in the turnover of trade through the user’s account reduces the size of the spread. For example, with a turnover above $ 25,000, the size of the spread can be reduced by 30% or more.
The broker does not have a striking division into accounts. Only a standard account and a Commission Account with a fixed spread (but without Metatrader support) are offered.
How broker FOREX.com provides customer feedback
A very important criterion for evaluating the work of a brokerage company is the quality of customer feedback from managers. These include primarily the work of the technical support service, as well as the speed of processing applications through online chat, e-mail, through the contact phone number.
Independent teams assessed the quality of the work of managers. And if the average response time was determined in a few minutes (this is a very high standard), then the professionalism of the broker’s managers was rated at a low level.
Analytics services and other bonuses by trader and investors
A lot of work was done by the broker’s employees to create the Advanced Trading analytical platform. Each user can receive a wide block of information through the service. There was added a block with economic and political news, analytics, forecasts, expert opinions. All information is updated in real time. In addition, the AutoChartist platform is partially integrated into the analytical service. Very accurate trading signals are generated based on the study of patterns.
Trading platforms for trading from FOREX.com
Access to trading in financial markets is carried out through a web terminal, as well as Metatrader 4. At the same time, the user can use both desktop and mobile versions of the software.
Through the Advanced Trading platform, you can trade online, via the website. Over 130 indicators and graphical elements are built into the system, which allows you to perform a full technical analysis.
Deposit and withdrawal methods
Replenishment currency can be Euro or US dollar. You can transfer funds through bank cards of VISA, MasterCard systems, as well as through e-wallets Neteller, Webmoney, PayPal.
Reviews indicate that the processing of applications for payments is up to 2 working days. The company generally has a neutral reputation.