Forex.com is an excellent trading platform for beginners as well as professional traders. It was founded in 1999 and is currently being regulated globally in multiple countries. It is regulated under the Securities Investment Business Law of the Cayman Islands by Cayman Island Monetary Authority with license number 25033.
The parent company of Forex.com is ‘GAIN Capital Holdings.’ It trades in New York Stock Exchange under GCAP. The GAIN Capital group is an organization with around 800 staff members that are catering to over 200,000 corporate and individual clients.
The firm claims to be a global market leader offering trustworthy trading services. It boasts of providing an excellent trading service for Forex and CFD traders globally. Its inherently transparent trading practices and unmatched pricing gives it a competitive advantage over the others.
Forex.com has three powerful trading platforms to suit the needs of all kinds of traders. These are:
Forex.com also provides a completely Metatrader robust package experience with their MT4 and MT5 suite features. The reasons why MT4 and MT5 suites are high in demand are due to their ease of use, extreme customizability, and in-depth trading features and tools.
Some of the trading features of Forex.com are:
Forex.com currently has a welcome bonus promotional scheme offering the advantage of up to $5,000. The bonus is credited into the account, which is equivalent to 20% of the amount that is funded into the account within the 14 days of signing up. The maximum bonus is capped at $5,000.
Cash deposits and checks are not accepted at Forex.com as deposits. Western Union and PayPal are also not accepted payment modes. The accepted funding modes include credit card, debit card, or wire transfer.
Since Forex.com is regulated in the United Kingdom, United States, Canada, Australia, Japan, Singapore, and the Cayman Islands, their regulation laws and services differ. Client funds are kept separate from Forex.com’s funds. Thus, safeguarding the client’s money. However, there is no additional insurance provided by the company, except in Canada, where the Canadian Investor Protection Fund insures the funds of Canada clients.
It is publicly traded and regulated in multiple tier-1 jurisdictions. Thus, making it a low-risk option for traders.
The platform automatically monitors accounts, and in case the client does not possess a sufficient margin in their account, their positions are automatically liquidated. There is a cost that is incurred for availing stop losses services. It also charges $15 as an inactivity fee if there are no open positions for over 90 days. The platform has transparent pricing mechanisms in place. For beginners, demo accounts are provided at no charge for them to understand the structure before investing real money.
Customers are provided with multiple options to contact the Forex.com customer service. They can email their queries at firstname.lastname@example.org. Online chat, phone assistance as well as extensive FAQs and video tutorials are also available on their website.
The online chat support service is available for both the existing as well as potential customers. Currently, Forex.com does not offer social media customer support. However, they do have social media presence across platforms where they regularly post-market insights and analysis. For more in-depth solution finding, customers can send in an email where they might have to wait between 1-3 business days for a response.
Phone support is available, which is the quickest way to get help, as the solution can be sought on the spot. An IVR on the call directs to the appropriate phone executive personnel. Wait times can be expected. However, on a typical day, it would be a few minutes before the call is connected.
Overall, Forex.com is recommended equally for an active trader as well as an infrequent trader. Awarded the Best in Class award in several categories, it meets and exceeds industry standards with its service offerings. Its varied spread across platforms offers options for all kinds of traders in the middle. The customer support options are equally diverse, offering prompt responses whenever required. Open an account on Forex.com to experience their UI with the demo version. Thereafter, you can start investing your money safely!