Global Forex Broker Regulatory Inquiry APP

Score

8.29 /10
Good

FOREX.com

United States

Above 20 years

Regulated in Australia

Market Making(MM)

MT4/5 full license

Global Business

High potential risk

Offshore Regulatory

AAA
Great
AAA

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Comparison

Quantity 38

Exposure

Open Account
Website

Score

License Index 9.53
Business Index 9.24
Risk Management Index 0.00
Software Index 9.16
Regulatory Index 9.51
The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Regulatory disclosure

StoneX Financial

Contact number

English

+1 877.367.3946

English

+1 908.731.0750

Broker Information

More

Company Name

GAIN Global Markets, Inc.

Company Abbreviation

FOREX.com

Platform registered country and region

United States

Number of employees

Company website

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Facebook

YouTube

Pyramid scheme complaint

Expose

Check whenever you want

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WikiFX Risk Alerts 2
Previous Detection : 2023-06-05
  • The number of the complaints received by WikiFX have reached 28 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The Cayman IslandsCIMA regulation with license number: 25033 is an offshore regulation. Please be aware of the risk!

WikiFX Verification

FOREX.com · Benchmark
Average transaction speed(ms)
334.9 Great
The highest transaction speed(ms)
1 Perfect
The highest speed of opening positions(ms)
1 Perfect
The highest speed of closing position(ms)
1 Perfect
The lowest speed of opening positions(ms)
1969
The lowest speed of closing position(ms)
1193 Good
Ranking: 1 / 121
Test user 493
Transactions 2,862
Ocuppied margin $1,142,850 USD
Data Source WikiFX Data provide
Updated: 2023-06-02 01:06:00
Pyramid scheme complaint
Expose
Unable to withdraw

Investment lost if no action is taken

I requested a call-back a couple of times because of a margin call notification I was getting and it took them 4 days to tell me they would look into it but did nothing Eventually I got fed up and requested a withdrawal/refund that came under fintrack/ org mind you i sent the same request to GAIN Global Markets and got no response from them till this point.

2022-05-21 08:51
Unable to withdraw

Cannot withdraw principal. The customer service does not show his respects

The account cannot be withdrawn. When I consulted the customer service for the first time, the customer service told me that my account could not be withdrawn without providing any reason. . That's my principal, why can't I withdraw money? ? The customer service completely ignored it and kept repeating without being able to provide any reason. . Then I inquired which regulatory body Jiaqiang belongs to. . As a result, he told me that it is any regulatory license in our country. . Then kicked me out of the chat. . I'm all confused? ? ? ? ? ? Why the principal cannot be withdrawn? ? ? The license can't answer me either? ? The most important thing is to kick me out of the chat! ! ! The following is the second time to consult customer service again about the license plate. . As a result, customer service has been dissatisfied. . So Jiasheng has no supervision and no license? ? After the deposit, the principal cannot be withdrawn without providing any reason? ? ? ? ?

2023-04-03 12:00

    Total Margin Trend

    • VPS Region
    • User
    • Products
    • Closing time
    • Dubai
    • 163***
    • XAUUSD
    • 05-30 15:00:12
    • silicon valley
    • 526***
    • EURUSD
    • 06-01 19:15:35
    • Frankfurt
    • 739***
    • GBPUSD
    • 06-02 15:30:03

    Stop Out

    1.15%

    Stop Out Symbol Distribution

    6 months

    Sources
    FOREX.com · Company summary
    Registered in USA
    Regulatory status ASIC in Australia, FCA in the United Kingdom, FSA in Japan, NFA in the United States, IIROC in Canada, CIMA in the Cayman Islands and MAS in Singapore.
    Year(s) of incorporation More than 20 years
    Market instruments currency pairs, precious metals, energies, indices, bonds, cryptocurrencies and equities
    Minimum initial deposit $100
    Maximum leverage Variant
    Minimum spread Floating
    Trading platform Forex.com and MT5
    Deposit and withdrawal methods credit card (Visa, Mastercard, Maestro), bank wire transfer, Skrill and Neteller
    Customer Service E-mail address/live chat
    Fraud allegations Not yet

    It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

    In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

    Pros and cons of Forex.com

    Pros:

    • - Forex.com has a wide variety of investment products, including currency pairs, CFDs, cryptocurrencies and options.

    • - It offers a wide range of trading platforms, including the popular MT5 platform and its own Forex.com platform.

    • - Forex.com has a large number of regulations and is well established in the industry, which provides greater confidence and security to traders.

    • - Forex.com has excellent customer service, available 24 hours a day, 5 days a week, and offers multiple forms of contact.

    • - The minimum deposit is quite affordable, making it accessible to traders with different budgets.

    • - Offers negative balance protection

    Cons:

    • - Spreads at Forex.com are not the lowest compared to other brokers, especially on certain instruments.

    • - The Forex.com platform may be less user-friendly for novice traders, as it offers advanced and complex tools.

    • - Forex.com charges an inactivity fee after 12 months of no account activity, which can be inconvenient for inactive traders.

    • Overall, Forex.com is a solid and reliable forex broker, offering a wide range of investment products and trading platforms. Although it has certain cons, the pros greatly outweigh the cons, making it a good choice for those looking for a regulated and established broker in the industry.

    General Information and Regulation of Forex.com

    Forex.com is one of the most respected and trusted forex brokers in the foreign exchange trading industry. Founded in 2001, Forex.com is a global company licensed and regulated by several reputable regulatory authorities, including ASIC in Australia, FCA in the United Kingdom, FSA in Japan, NFA in the United States, IIROC in Canada, CIMA in the Cayman Islands and MAS in Singapore. These regulators are known for their strict compliance and oversight requirements, which means that Forex.com is required to meet high ethical and operational standards to protect its clients and ensure the safety of their funds.

    In the following article, we will analyze the characteristics of this broker in all its dimensions, offering you easy and well-organized information. If you are interested, read on.

    General information

    Broker type

    Advantages Disadvantages
    Offers tighter spreads Acts as counterparty in the operations of its customers
    Guarantees the execution of operations under normal market conditions. There may be conflicts of interest
    Can offer a greater amount of liquidity and depth in the marketplace Traders do not have direct access to the interbank market.
    Offers an easy to use and customizable trading platform Traders may prefer ECN or STP brokers.

    Forex.com is a worldwide forex broker offering online trading services in multiple markets, including forex, indices, commodities, cryptocurrencies and stocks.

    Forex.com is a Market Maker broker, which means that it acts as a counterparty to its clients' trades, rather than sending trades to the interbank market. As such, Forex.com can offer tighter spreads and guarantee execution of trades under normal market conditions. However, some traders may prefer ECN or STP brokers, which send trades directly to the interbank market and do not act as a counterparty to their clients.

    Market instruments

    Advantages Disadvantages
    It offers a wide variety of trading instruments, allowing traders to find opportunities in different markets. Offering a wide variety of trading instruments, it can be overwhelming for traders who are new to the market and do not have experience in all available markets.
    Diversification of trading instruments can help traders manage the risk of their portfolios. Some trading instruments may have higher costs in terms of spreads or commissions, which may reduce the profitability of trades.
    Forex.com offers a variety of market analysis and education tools to help traders make informed decisions about trading instruments. Traders may find that the variety of trading instruments may be too wide, making it difficult to identify profitable trading opportunities.

    Forex.com offers a wide variety of trading instruments, including currency pairs, precious metals, energies, indices, bonds, cryptocurrencies and stocks. Traders have a wide range of options to choose from and can find opportunities in a variety of markets.

    market instruments

    Spreads and commissions for trading with Forex.com

    Advantages Disadvantages
    Low spreads on a wide range of instruments Spreads can be variable and can widen during periods of high volatility.
    Low commissions for stock trading Forex.com is a Market Maker broker, which means that there may be a conflict of interest.
    Average speed of fast execution It does not offer trading accounts with variable spreads.
    Very low spreads on the EUR/USD currency pair Some traders may prefer ECN or STP brokers that send trades directly to the market.
    Low spreads for spot oil trading
    Low spreads for gold trading

    Forex.com offers competitive spreads and low commissions on a wide range of trading instruments. Spreads for the EUR/USD currency pair start from as low as 0.018 pips, which is very low compared to other brokers. In addition, spreads for the Germany 40 and UK 100 indices start from 1 pip, and commissions for trading stocks start from 0.1%. Traders can also trade spot oil with spreads starting from 0 pips, which can be very attractive for those interested in commodity trading. In addition, the average trade execution speed on Forex.com is 0.04 seconds, which means that traders can expect fast execution of their trades. Finally, spreads for gold start as low as 0.15 cents, which can be very attractive for traders looking to trade the precious metals markets.

    spreads and commissions

    Trading accounts available at Forex.com

    Advantages Disadvantages
    Demo account available for risk-free practice No Islamic account offered for traders who follow Shariah law
    Offers two account types to suit different trading needs The standard account has wider spreads compared to the MT5 account.
    The standard account is ideal for traders looking for a wide variety of advanced charting tools and a wide selection of markets. MT5 account can be more complex for beginner traders
    Both accounts offer access to Forex.com's award-winning, technologically advanced and easy-to-use trading platform. The MT5 account has a more limited selection of markets to trade compared to the standard account.
    Customers can switch between the two accounts at any time to meet their business needs. The standard account does not offer multi-asset class trading, like the MT5 account.

    Demo account: Like many good Forex brokers, Forex.com offers demo accounts where clients can try forex trading without risk.

    Forex.com offers its clients two types of trading accounts: the standard account and the MT5 account. The standard account is ideal for traders looking for a wide range of advanced charting tools with more than 80 technical indicators and a wide selection of markets to trade with competitive spreads starting from 0.8 pips on the EUR/USD currency pair. In addition, this account does not charge commissions on over 300 markets. On the other hand, the MT5 account is ideal for traders looking for up-to-date tools and analysis, multi-asset class trading, expert advisors and custom indicators. Both accounts offer access to Forex.com's award-winning, technologically advanced and easy-to-use trading platform. In addition, clients can switch between the two accounts at any time to suit their trading needs.

    account types

    Trading platform offered by Forex.com

    Advantages Disadvantages
    Forex.com's MT5 platform is fast and offers a wide range of technical analysis tools and resources. Some traders may prefer other popular platforms such as MetaTrader 4.
    The MT5 platform can be customized to each trader's preferences. Traders who prefer a simpler platform may find the Forex.com platform a bit overwhelming.
    The Forex.com platform is easy to use and designed to provide an intuitive trading experience. The Forex.com platform is not as advanced as MT5 and may not be suitable for more experienced traders looking for more advanced tools.

    Forex.com offers its clients the MT5 trading platform, one of the most popular and advanced trading platforms on the market. MT5 is known for its fast order execution and wide range of technical analysis tools and resources. In addition, traders can customize the platform according to their needs and preferences.

    In addition to MT5, Forex.com also offers its own trading platform, the Forex.com platform. This platform is easy to use and is designed to provide an intuitive and customizable trading experience. The Forex.com platform features advanced trading tools, real-time charting and a wide range of technical indicators, making it a good choice for traders of all experience levels.

    trading platform

    Forex.com margin

    Margin on Forex.com is a financial requirement that traders must meet in order to maintain their open positions. The margin requirement varies by platform (FOREX.com or MetaTrader), market, asset class and position size. Each instrument on Forex.com has its own margin information that can be found on the market information sheet on the FOREX.com platforms. To calculate the margin required to open a position, simply multiply the total nominal value of the trade (quantity x instrument price) by the margin factor. Traders can use the platform's margin calculator to find out the margin required before opening a position. In addition, Forex.com allows monitoring the margin requirements of each position individually and reviewing the total margin requirement of the account through the Margin Indicator. It is important to remember that the margin requirement may change over time as market prices fluctuate.

    Negative balance protection

    Forex.com offers negative balance protection on all of its trading accounts. This means that clients cannot lose more money than they have in their account, providing an additional layer of security and peace of mind in trading. In the event that an extreme market situation occurs and a position moves against the client, Forex.com will automatically close the position before the account balance falls below zero. This protection helps limit risk for clients and is an important feature to consider when choosing a forex broker.

    Deposit and Withdrawal: methods and fees

    Forex.com offers several payment methods for depositing and withdrawing funds, such as credit card (Visa, Mastercard, Maestro), wire transfer, Skrill and Neteller. Deposits are processed within 24 hours, which means traders can start trading quickly. Withdrawals are also fast, usually taking 1-2 business days to process. It is important to note that Forex.com does not charge any additional fees for deposits or withdrawals, but payment service providers may impose their own fees.

    deposit and withdrawal

    Forex.com Education

    Forex.com offers a wide variety of tools and resources to help traders make informed decisions, including technical analysis, economic calendars, real-time news, free webinars and seminars, and a free demo account to practice and improve trading skills.

    educational resources

    Forex.com Customer Service

    Forex.com offers exceptional customer service, with 24-hour support in multiple languages via live chat, email and address. In addition, the broker has an extensive online help center covering topics from account opening to trade execution and risk management. It also offers a news and analysis section, which includes an economic calendar and real-time market news, allowing clients to stay informed and make informed decisions. Overall, Forex.com demonstrates a strong commitment to customer satisfaction and provides all the tools necessary for traders to succeed in their trading experience.

    E-mail: support@forex.com

    Address: 30 Independence Blvd, Suite 300 (3rd floor), Warren, NJ 07059, USA

    Conclusion

    In summary, Forex.com is a well-regulated and respected broker with a wide variety of trading instruments and easy-to-use trading platforms. With its solid 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.

    Frequently asked questions about Forex.com

    • Question: Does Forex.com offer a demo account for practice?

    • Answer: Yes, Forex.com offers a free demo account for traders who want to practice before trading with real money. The demo account offers full access to the trading platforms and market analysis tools for a limited period of time.

    • Question: What is the minimum deposit to open an account at Forex.com?

    • Answer: The minimum deposit to open a Forex.com account varies depending on the type of account the trader chooses and the trader's location. In some cases, it can be as low as 10 0 dollars.

    • Question: Does Forex.com charge commissions for trades?

    • Answer: Forex.com charges commissions for some trades, such as stock trading. However, it does not charge commissions in most markets. Instead, Forex.com earns profits through the spread between the bid and ask prices of assets.

    • Question: Does Forex.com have any kind of training or education program for traders?

    • Answer: Yes, Forex.com offers a wide variety of educational resources for traders of all levels, including live webinars, seminars, trading guides, articles and educational videos.

    • Question: What payment methods does Forex.com accept?

    • Answer: Forex.com accepts various payment methods, including credit and debit cards, bank transfers, as well as electronic payment systems such as Skrill and Neteller. Processing times and deposit and withdrawal limits may vary depending on the method chosen and the trader's location.

    News

    In light of the Turkish presidential election, FOREX.com warns about TRY rate fluctuations

    NewsIn light of the Turkish presidential election, FOREX.com warns about TRY rate fluctuations

    2023-05-11 17:46

    FOREX.com Japan has issued a warning to its clients concerning potential market swings in the wake of the upcoming Turkish elections.

    WikiFX
    2023-05-11 17:46
    News
    In light of the Turkish presidential election, FOREX.com warns about TRY rate fluctuations
    Understanding the Significant Influence of Presidential Elections on Forex Trading

    NewsUnderstanding the Significant Influence of Presidential Elections on Forex Trading

    2023-05-10 17:39

    Presidential elections, like Turkey's on May 14, 2023, significantly impact forex trading due to potential policy shifts, causing volatility and uncertainty. Traders need to stay informed and adaptable, turning potential risks into profitable opportunities amidst currency fluctuations for example Turkish Lira (TRY).

    WikiFX
    2023-05-10 17:39
    News
    Understanding the Significant Influence of Presidential Elections on Forex Trading
    FOREX.com Japan Increases Margin Rates for HKD Currency Pairs

    NewsFOREX.com Japan Increases Margin Rates for HKD Currency Pairs

    2023-03-07 13:23

    FOREX.com Japan has announced an increase in margin rates for HKD currency pairs, effective from March 9, 2023. The new margin rates will apply to FOREX.com accounts and MT4 accounts, and traders will be required to maintain a higher margin to open and maintain positions in these currency pairs.

    WikiFX
    2023-03-07 13:23
    News
    FOREX.com Japan Increases Margin Rates for HKD Currency Pairs
     WikiFX Ranking: The 5 Brokers Offering Best Day Trading Simulator Platforms in January 2023

    News WikiFX Ranking: The 5 Brokers Offering Best Day Trading Simulator Platforms in January 2023

    2023-02-07 17:13

    The First WikiGlobal Demo Forex Trading Worldcup 2023 will officially start on March 1st, 2023. Trading with the demo account is very important before you trade with real money. It aims to provide a stage for participants to show their trading abilities. On the other hand, there are some solid day trading simulator platforms in the market. In today’s article, we will list 5 excellent brokers that support simulated forex trading.

    WikiFX
    2023-02-07 17:13
    News
     WikiFX Ranking: The 5 Brokers Offering Best Day Trading Simulator Platforms in January 2023

    User Reviews

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    User comment

    84

    Comments

    Write a review

    Queel
    more than one year
    A very famous broker in the forex market. You can freely choose to open an MT4 account or an MT5 account, and the minimum deposit of only $100 is also friendly to novices. Overall, I think it is a good choice to start your forex trading here.
    2023-02-13 15:44
    Reply
    0
    0
    Queel
    more than one year
    The famous broker in the forex market. You can freely choose to open an MT4 account or an MT5 account on FOREX.com, and the minimum deposit of only $100 is also friendly to novices. Overall, it is worth a try.
    2023-02-13 15:40
    Reply
    0
    1
    beto1719
    3-6months
    I hope to have good results thank you
    2023-01-27 09:08
    Reply
    0
    1
    Bn umar
    6-12months
    Good
    2023-01-23 22:33
    Reply
    0
    3
    nasir3953
    3-6months
    nothing
    2023-01-17 00:39
    Reply
    3
    3
    kzmz6735
    3-6months
    let's see we will try
    2023-01-16 06:34
    Reply
    0
    0
    VA Dyna
    3-6months
    Hi
    2023-01-10 12:07
    Reply
    0
    2
    shahid786
    3-6months
    very nice
    2023-01-09 21:57
    Reply
    1
    3
    lheslie
    6-12months
    I'm new ,,this forex it's very nice platform it's very big helpul and to all's person's investment... and the big dreams very nice..
    2022-12-27 07:37
    Reply
    1
    4
    FX2128551572
    6-12months
    03368903023
    2022-12-26 02:29
    Reply
    2
    3
    Sian
    more than one year
    The overall conditions of GAIN Capital are fairly good, with educational and research resources, and a leading trading platform. But my friends don't like to use this platform because securities and bonds cannot be bought and sold on this platform. I don't use it much later because his leverage is a bit conservative, and I like high leverage trading now.
    2022-12-15 18:26
    Reply
    0
    0
    FX1160259091
    more than one year
    Jiaqiang is a big trader, and it was recommended to me by many friends when I first started trading. I have traded currency pairs on this platform twice and achieved good profits. You can trade directly through charts, and the customer service staff is also very professional. It is always right to trust a big brand.
    2022-12-14 11:38
    Reply
    1
    3
    Alves14
    3-6months
    Forex.Com is one best broker I really enjoy it You guys are the best. I don't regret doing trade with You guys. Less risk.
    2022-12-12 16:45
    Reply
    0
    0
    Titus Arome
    6-12months
    forex.com is a good broker based on the experience I have had with them so far. I don't think it's a scam
    2022-12-12 10:17
    Reply
    0
    1
    Joyce654
    3-6months
    Forex is legitimate
    2022-12-09 06:25
    Reply
    0
    0
    asmukh
    6-12months
    the best of my favorites broker
    2022-12-08 19:36
    Reply
    0
    0
    Evanygrace
    3-6months
    it's one of the best brokers, kudos
    2022-12-08 18:41
    Reply
    0
    0
    poul
    3-6months
    I'm new, i never trade with it.
    2022-12-08 16:51
    Reply
    0
    0
    Mrcool
    6-12months
    the broker is good in trade so nice
    2022-12-08 16:34
    Reply
    0
    0
    FX2601539579
    more than one year
    I never trade with with it.
    2022-12-08 16:24
    Reply
    0
    0
    38
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