Forex.com is currently one of the larger online brokers that is cornering the U.S online retail trading scene. The trading platform is owned and managed by a holding company known as GAIN Capital which is in direct competition with FXCM for the domination of the U.S market. Highly regarded by many traders for their integrity, Forex.com is definitely one of the better online forex brokers for traders to partner with.

Some of the benefits which traders can derive from their association with Forex.com include free education, Expert Advisors (EAs) hosting, tight spreads, free market research and 24/7 customer service.

Trading Platforms

At Forex.com, there two main types of trading platforms:

•  MetaTrader 4 (MT4)
• FOREXTrader PRO

• MetaTrader 4 (MT4)Regarded as the industry standard platform for online forex trading, the MT4 platform is packed with features and tools and even allows traders to customize it for automated trading. With the MT4, traders also get to access more than 30 types of CFDs and 45 forex markets.

   

  FOREXTrader PRO

  The FOREXTrader PRO platform is a web based trading platform which is fully customizable. The platform is designed specifically for trading forex and features a wide array of advanced trading tools such as pattern recognition software, signal and an advanced charting package.

  Both theMT4 and FOREXTrader Pro are available as a downloadable version to be installed on standalone PCs or mobile devices.

   

  GTX ECN Platform

For traders who qualify, they can gain access to GAIN Capital’s GTX ECN platform. The platform is especially suited to high net worth professional traders and institutional clients. With GTX Direct, traders will have the benefit of ultra tight spreads, transparent pricing and deep liquidity.

Account Types

As for the trading accounts at Forex.com, traders can choose between a standard trading account or a Premium account. The minimum initial deposit required for a standard account is £/$500. However, traders are recommended to deposit $3000 to be able to access the full range of tradable instruments.  Premium account require a higher amount of £/$25,000 to open.

Commission & Spreads

Like all online forex broker, Forx.com does not charge any commission for their services. Instead, Forex.com earn by adding a spread on top of the prices that traders get from the market. The spreads charged are variable and competitive. They start from as low as 1.2 pips for major pairs like the EUR/GBP. For even more competitive spreads, traders can opt to trade through the GTX Direct ECN platform.

Customer Support

Committed to helping their clients succeed, Forex.com provide their clients assistance on a 24/5 basis. The support team can be contacted by means of:

• Email
• Fax
• Live Chat
• Telephone

Reliability

As for the reliability of Forex.com, the broker is a registered member of the CFTC and National Futures Association (NFA # 0339826). The holding company, GAIN Capital is listed on the NYSE (NYSE: GCAP).

The broker is also registered with the UK FCA in compliance with the local regulatory requirements. This also means traders will have access to the Financial Services Compensation Scheme. Traders are covered up to £50,000 in the event Fore.com becomes insolvent.

For added consumer protection, Forex.com clients’ funds are held in segregated accounts. They also have negative Balance Protection to protect traders from a negative balance in the event of adverse market movements.

Pros

• Global Market Leader
• Option To Trade With ECN Platform
• Regulated Broker
• Solid Financial Backing With Listed Company Behind
• Superior Trade Execution With Reliable Platforms
• Tight Spreads

Cons

• Market Maker Broker

Conclusion

There is no doubt Forex.com is a well known broker in the forex retail market. They have proven themselves to be a broker who is dependable and reliable. Apart from being a regulated broker, traders are provided with superior quality services and products to work. In our books, this broker comes highly recommended.