|Licensing & Regulation|
|Brand & Functionality|
|Platforms||iOS App, Android App, Windows Phone App, MT4, MT5, Native Web Platform|
|Account Types||Demo, Individual, Professional.|
|Account Currency||USD, CHF, EUR, GBP|
Forex.com is the trading name used by Gain Global Markets Inc., which is a US-based online trading service provider with its headquarters based in Bedminster, New Jersey. GAIN Capital started out as one of the first online forex trading companies in 1999. It went public in 2010 and by the end of 2014 was acquired by City Index for $118 million to expand Forex in the United Kingdom. GAIN Capital acquired FXCM US in 2017. GAIN Capital offers services to traders in more than 140 different countries and partners with affiliates in Tokyo, Sydney, Hong Kong, New York City, London, New Jersey, Seoul and Singapore. Today, the company’s largest retail website is Forex.com offering white label trading solutions to a huge online forex trading community.
Forex.com is one of the global market leaders when it comes to connecting global independent traders since 2001. The trading platform is favoured by millions of international users due to its high-quality execution on trades, competitive prices, transparency and security systems in place that offer safe and secure online trading. The company maintained its great reputation and often receives praise for its stability and financial strength.
Demo accounts are made available to anyone new to trading, while assistance is available via live chat, email and telephone. Forex.com is active on social media platforms such as Twitter, Facebook and YouTube.
On the 5th of April, Gain Capital announced that the company had increased its product offering via the launch of Bitcoin Cash, Ripple, Ethereum and Litecoin. These became avaialble in Singapore, Europe, United Kingdom, and Australia on its City Index as well as Forex.com services. Gain also expanded its bitcoin trade at the same time to trade directly against the British pound – BTC/GBP, Euro – BTC/EUR, and Australian dollar – BTC/AUD.
Licensing & Regulation
Gain Global Markets Inc. trading as Forex.com is regulated and authorised by the Cayman Islands Monetary Authority and licensed under the Security Investment Business Laws of the Island. Forex.com affiliates include in the United Kingdom, the Financial Conduct Authority, in Japan the Financial Services Authority and in the United States the CFTC. Affiliated services offered in Canada are regulated via the Investment Industry Regulatory Organisation IIROC and in Australia by the ASIC.
Gain Capital Payments Limited processes card deposits from time to time, while Gain Capital Payments Ltd and Gain Global Markets Inc. are part of the Gain Capital Holdings Inc group of companies.
Traders can depend on open and transparent services since Forex.com has a reputation for offering stability and top security. The company offers complete financial transparency, which offers confidence to all clients, knowing the company is well capitalised and managed. The financial data published in the Q3 report of 2018 indicates total assets worth $1,442 billion, available liquidity of $351.5 million as well as total customer equity of $887.3 million.
Forex.com mobile trading enables everyone to trade and manage their accounts on the go with great easy via mobile apps. Traders using Android devices can download the free app from Google Play, while iPad and iPhone users can access the free downloadable app from the App Store. The powerful mobile apps ensures all traders can fund their accounts using their mobile devices. It further allows users to remain informed regarding market moves, manage their account activities, make trades with precision and remain on top of all price actions. The iOS and Android mobile apps offer real-time order alerts and trading, advanced analysis and charting tools, full-featured trading, integrated fund management and advanced risk management options.
Brand & Functionality
Forex.com caters for new traders, while it also strongly focusses on serious traders, demanding sophisticated analytic tools and trading feature packed into a single and most powerful package. The highly customisable advanced trading platform includes trade and dashboard preferences, over 80 technical indicators as well as powerful charting tools. With Forex.com, online traders are able to trade in a safe, secure and regulated environment. They are able to benefit from the trusted broker’s strength, reliability, and high-level security, a factor that has been instrumental in building its outstanding reputation. Millions of traders around the world prefer Forex.com for its professional support and guidance, a framework built on a regulated environment, excellent trade executions, superior trading tools, maximum reliability and value as well as financial security and strength.
Forex.com offers new traders the option of first experimenting with their demo account, while experienced traders can simply open a new account via their desktop or mobile device. The registration process takes around 5 minutes and requires personal information and a bit of information on the new members trading experience. The personal information form requires the country or region of residence, title, first name, last name, date of birth, email address, and contact number of the new user. While every member can select a username, password and the base currency they wish to trade in. Base currency options include EUR, USD and GBP. The second page required the home address, city, state and postal code as well as the country of citizenship, country of tax residency and the taxpayer identification number.
Trading experience information required includes employment status, total annual income, net worth and the amount the new user would like to deposit. A multiple choice questionnaire needs to be completed at point of registration. It requires answers on how regular new members have traded during the past year on bonds, shares, exchange-traded derivatives, CFDs, spread bets or margined Forex. The last question requires an estimate of how many trades the new user expect to place monthly. Once completed a few minutes is needed to process the application before account verification is needed.
Account verification documents required include a valid government-issued ID that includes the date of birth, photograph. Proof of address documentation includes credit card or bank statements that display the address provided on the application form. An email is also sent to the applicants providing a secure link to login. Before all documents are uploaded no trading can take place.
The initial deposit should be worth at least GBP/EUR/USD 50, although the recommended deposit is a minimum of 2,500. Forex.com does not accept cheques, eWallets, Western Union or PayPal. However, the funding page offers credit and debit cards including MasterCard and Visa with immediate processing as well as Wire Transfers. Deposits may require a possible processing time of up to 2 days.
The forex trading company offers cryptocurrency trading online as well as over-the-counter trades. With its addition of several another cryptocurrency trading, the service enables traders to access well over 12,000 markets including FX, equities, commodities, indices and rates. Forex.com launched a variety of additional cryptocurrencies in addition to bitcoin trading in Europe and the United Kingdom at the end of 2017. At the start of 2018, this was also offered in Singapore and Australia. The company provides bitcoin trading in the United States via its Daniels and Futures Online trading brands. Trading markets offered at Forex.com include forex, cryptocurrencies, indices, shares, metals, and commodities.
Froex.com offers online traders a variety of different trading platforms including Forex.com desktop, web trading, mobile trading, charting, TradingView and MetaTrader 4. While members also have access to a long list of trading services and resources including market strategies, trade signals, market analysis, educational tutorials and the active trader.
Withdrawals can be requested directly from the My Account section and will be sent via the same method as used to originally fund the account. This includes wire transfer, credit card or debit card. The processing time for withdrawals is approximately 24 hours and the maximum withdrawal per transaction is $50K for debit or credit cards. Wire Transfer withdrawals are processed within 48 hours and carry no maximum limit on the withdrawal amount.
The comprehensive FAQ section is divided into several categories including pricing & fees, commission accounts, registering a new account, funding & withdrawals, markets, trading platforms, demo accounts, and passwords as well as account setting. Members can also contact the support team via live chat, telephone or email, while it is also possible to connect with the service team at Forex.com via Facebook, YouTube or Twitter.
Forex.com traders have access to an array of tools including Litecoin trading with competitive financing, low margins, fixed spreads. Platform tools enable clients to take control of their trading via powerful resources and platform created to provide them with an edge, while cryptocurrency and Ethereum trading include fixed spreads, reliable trade executions and competitive financing. Web trading charts drawing tools offer a range of customizable tools usable on web trading charts. The UK trading platform comparison can be used to breakdown which of the platforms offer the perfect tools to best suit a clients trading preference and style. The MT 4 Web Trading is web-based and requires no downloading or plugins.