FOREX.COM

Charges

Forex.com does not charge commission or deposit fees, nor impose transaction costs on clients.

Forex.com users choose between a ‘Standard’ and ‘Premium’ account. A minimum starting deposit of £300 is required for ‘Standard’ accounts (although Forex.com recommends clients deposit a minimum of £2,000 in order to access the full gamut of trading instruments). A minimum deposit of £15,000 is required for ‘Premium’ accounts. A subsequent minimum deposit rate of £150 is set for all clients.

An inactivity fee of £15 per month is levied against users that do not hold open positions for 90 days or more.

All banking fees, including but not limited to wire transfer charges, are the responsibility of the customer and will be deducted from the customer’s trading account.

Margins

Forex.com imposes set margin requirements on all clients. For clients trading major currencies, a minimum requirement of 2% is levied; for minor currencies, 5%. For commodities such as gold, a 100% margin requirement is imposed. A comprehensive guide to their various margin rates can be found on their website.

History

Forex.com is an online Forex trading provider. A subsidiary of listed US financial services company Gain Capital, Forex.com allows both retail and institutional clients to speculate and trade on global FX markets, and on commodities such as gold and silver.

Forex.com is regulated by the Financial Conduct Authority in the UK.

Financials

Forex.com has not published detailed financial information for 2013.

Platform Features

Forex.com offers clients the opportunity to create their own bespoke trading platforms. Users can choose which applications are included, and the design of their trading interface.

Clients can also use the pattern recognition program ‘Autochartist’ to identify and follow emerging trends. Advanced tools are provided to shape which trends are tracked, and how.

Further to this, comprehensive trade planning software is provided free to clients, in the form of analytics package ‘eSignal’.

Mobile Dealing

Forex.com clients can trade via their smartphone in a number of ways. Users can choose between a dedicated mobile site, bespoke FOREXTrader app or branded MetaTrader 4 app. The FOREXTrader app has many features, allowing clients to trade, receive news updates and insight in real-time, scrutinise market trends using chart tools, and receive price alerts.

Educational Material

Forex.com offers a compact educational infrastructure to clients. Training materials include 14 videos on FX concepts, for traders of every level of aptitude (beginner through to advanced). Video lectures on the use of MetaTrader are also provided. Additionally, interactive seminars on FX trading can be accessed by clients.

Pros

The primary strong point of Forex.com is that it is backed by a major US financial enterprise. This means significant protection is offered to client accounts. The FOREXTrader app has been designed to provide optimal accessibility and functionality. Tight spreads are also offered, and what fees are levied and minimum rates applied are generally low. The tracking and analytics applications offered to clients are also notable.

Cons

Forex.com wish to attract high net worth clients. This is not a service particularly amenable to the needs and abilities of casual traders, or low-volume clients. Further, Forex.com clients do not gain direct access to markets.

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