Forex.com Review

2.014 • 299 REVIEWS
Gain Capital StoneX Group Inc
Updated: Nov 13, 2022
FOREX.com
FOREX.com is well established and regulated broker that offers the MetaTrader4, MetaTrader 5, NinjaTrader, and GTX-Forex ECN trading platforms for US residents and traders from other countries. FOREX.com offers over 40 currency pairs, gold, and silver for your personal investment and trading options.

Related sites include FXTradingPro.com.

FOREX.com is a subsidiary of GAIN Capital Holdings.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 50:1
Minimum to Open Live: $100
Established: 2001
Address: 30 Independence Blvd, Suite 300 (3rd Floor) Warren, NJ, 07059, United States
Contact: support@forex.com, 1.877.367.3946
Regional offices:
Regulators: CIMA #25033, FFAJ #1539, FCA #113942, NFA #0339826
Prohibited countries:
Trading platforms: MT4, MT5, WebTrader, NinjaTrader, Desktop Terminal, TradingView
Dealing Desk: ✅ Yes
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes

Trading Instruments

Currencies: (80+)
Cryptocurrencies: (5+)
CFD: (25+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Bonds, Oil, Other Commodities

Trading Conditions

EAs/Robots: ✅ Yes
News Trading: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

MAM: ✅ Yes
Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, ACH Payments (echeck)
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, ACH Payments (echeck)
2.014 • 299 REVIEWS

Traders Reviews

S
Sad, Sad, Sad
Nashville, TN, USA,
May 23, 2022,
Guest

Forex.com is closing The Account I've had with them since 2008!

Service use: Live Length of use: over 1 Year
Forex.com is closing my account after 14 years without any explanation whatsoever. This just happened to me this evening and I was wondering if it is happening to anyone else as well. When I discovered that my account was disabled, I reached out to client services immediately only to be condescended to. I miss when forex.com use to be a decent company!!! Now, I am passing the night without the ability to make any money. If these people close your account there should be accompanied by an explanation! This should be illegal!!! They should not be able to close your account unless they suspect suspicious activities of sort! If that is the case, they should tell you!
R
Toronto, Canada,
Mar 2, 2022,
Registered user

Scumbag market maker kicked me out after made profit.

Service use: Live Length of use: over 1 Year
Same as my other broker, once you are profitable they kick you out (the other one let me make 90k before they kicked me, these guys around15k...). I'm banned from both now. Unreal what a scumbag system we got going on in Canada. This is something I would expect from 3rd world county. How do they allow these bucket shops to exist. Will complain to IIROC.
E
Extrader
VN, Viet Nam,
Dec 24, 2021,
Guest

Reply to Forex.com - Sign of trading against clients

Sorry if I upset you again but I have to say that your reply seems persuading to novices only, but not persuading to experienced traders with some knowledge of the industry. Your reply is somewhat misleading traders on purpose to believe that UK brokers, for instance, are not allowed by their regulator to accept traders from other countries. The truth is just on the contrary indeed. Any regulators in any countries not only want to attract traders from home but also traders from abroard to develop their country economy. You are talking about your will/policy but misleading that it is your regulator's will.
Hope your company will improve its policy in the future to attract more traders.

Nov 22, 2021 - 1 Star I intended to trade with Forex.com UK for reliability and safety of my deposits although the leverage is low. The link here is to their entity in Cayman Islands and on their Cayman entity website they don't give any link to their UK entity for traders' choice of which entity/regulator traders want to trade with although they do advertise they are regulated in many countries including UK. This is a bad sign that such brokers often trade against their clients, thus they don't want their clients to open a/c with their well regulated entity (its for advertising purpose only) or else they will have trouble with their regulator when clients complain about their bad behavior. After finding out this, I gave up my entention to open a trading a/c with them. However, I still hope one day in the future they may change their minds and openly give link to their UK entity for traders' choice. If so, I may give them a try then.

Reply by FOREX.com submitted Dec 8, 2021 Thank you for your review. We are disappointed to hear that our services did not meet your expectations. FOREX.com is regulated under different regulatory bodies and we are obligated to comply with all applicable rules. FOREX.com UK is a registered and regulated by the FCA. Due to Brexit, our customers outside the UK can apply for an account under our different regulatory bodies depending on the country they are applying from. Please also note that as a regulated entity, we operate in strict trading environments and work hard to provide a stable and secure trading environment for our clients. We do not trade against our clients but simply offset trades for the purpose of completing transactions. If you have any questions or require more information, we encourage you to contact our support team by chat or phone using the number 1.800.032.1948, or you can also send us an email to ukinfo@forex.com.
D
Florida, USA,
Dec 22, 2021,
Registered user

Forex.com Will do to you what wallstreet did to GME

Service use: Live Length of use: 0-3 Months
These scammers will halt your trades and force you to liquidate. They say they don't trade against you but do anything in their power to margin call you such as withholding funds or halting buying sell and closing orders. They then use wide spreads not present on other brokers as an excuse for their trading halts which only happen during the big moves where you would take profits. Don't believe me? I'm not all talk I beat the broker and they forced me to close my account. Class action on TRY who is with me?
https://youtu.be/OSbCcBiaHzg
D
Reply by FOREX.com submitted Feb 2, 2022:
Thank you for taking the time to provide your detailed feedback. We strive hard to make every customer’s experience enjoyable, and we are sorry we’ve not been able to meet your expectations this time.

FOREX.com and its subsidiaries are regulated in 8 jurisdictions worldwide, including CFTC/NFA in the US, IIROC in Canada, FCA in the UK, and CIMA in the Cayman Islands. We operate in highly regulated environments, with strong oversight into trading practices and execution. We do not pick and choose which trades to accept or adjust price or the trades' execution speed. We have automated every aspect of the trade process, intending to ensure your trade is executed as fast as possible at the price you expect – or a better one. If this is the experience you have had with us, we encourage you to reach out to our support team to help us resolve your inquiries. We take comments like this very seriously and hope you allow us to clarify this for you. Please contact our client support team by chat or phone using the number 1.877.367.3946, or you can also send us an email to support@forex.com.
E
Punjab, Pakistan,
Sep 4, 2021,
Registered user

They even afraid to reply me here.

Service use: Live Length of use: over 1 Year
Please stay away from this btoker they scam me above 10000$. Now when i ask support to return my money they say we are unable to pay your withdraw. Never work this broker again.

Mar 13, 2021 - 1 Star They try every trick to not process my withdraw. They only want looser traders if you are profitable then they cannot pay you profit. I expose this broker to every platform i have all screenshots and proofs now i can file a case against them.

Feb 25, 2021 - 1 Star I Still Chat call with them everytime they say your withdraw is in review. On Monday they say your withdraw will ptocess & it will deliever in 2 days i say ok. But again week over they cannot process my withdraw. I have all screenshots of chats they say your withdraw in Process. Kindly help me recover my Funds to this Broker. The biggest mistake of my life to work this Broker.

Jan 22, 2021 - 1 Star I deposit 16k$ and profit 10.5k$. Then request all withdraw. They pay my deposit only not profit. Its been many months i email many times to support but not a single response. When i go to live chat they said you wait 2 more business day to process after two weeks i call to office they said its been rejected. Kindly help me recover my funds.

Aug 15, 2019 - 1 Star 23995560 My account number i deposit 16000$ and start trading after i getting 10k profit i request to withdraw all my funds. After i request withdraw next day i receive email that they require some documents to process my withdraw i submit all my documents and waiting after a month they told my they have close my account . then i email her you can pay my withdraw they said its been process. Now its 2 month i am still waiting for my withdraw but nothing . I advice all traders to stay away his broker.
2 traders have found this review helpful
E
Reply by FOREX.com submitted Dec 8, 2021:
Thank you for standing by and leaving your feedback. We are disappointed you have not had a good experience trading with FOREX.com.
While we strive to make our withdrawal process as seamless as possible, we must balance this with our duty as a regulated firm to verify details under the “Know Your Customer” (KYC) and Anti-Money Laundering (AML) guidelines set forth by our regulator. We are required to withdraw the funds back to the exact same personal bank account used to fund your trading account.
Our withdrawal process is as follows: deposited funds must be returned to the originating source. Excess funds, or profits, may be withdrawn via bank transfer or wire. If you add a new bank account to withdraw excess funds, we are required to validate ownership of the account by requesting a bank statement.
If you are still encountering some difficulties, please reach out to us by call, chat or email and one of our client support teams will help to resolve the case. Our support email is support@forex.com and you can also call us directly toll-free: 1.877.367.3946.
K
Maryland, USA,
Jun 28, 2021,
Registered user

Good experience

Service use: Live Length of use: 6-12 Months
Stable platform. I have never had an outage. Executions go through fine, but sometimes there is a bit of a lag. Easy to create account and decent customer service.
2 traders have found this review helpful
K
Reply by FOREX.com submitted Aug 3, 2021:
Thank you for leaving a review, and we appreciate your kind words. We are glad to hear that your experience with our trading platform has met your expectations. We are always looking for ways to improve, so if you have any suggestions, we would be happy to hear from you. Please reach out to our support team by email at support@forex.com.
I
Petaling Jaya, Malaysia,
Jun 7, 2021,
Registered user

Rubbish

Service use: Live Length of use: Have not used
First and foremost if this is a market maker company yet the spreads are wide.... It is pure garbage. I'm pretty piss with them because when I created an account with them using English they gave me a server in China with Chinese emails. I don't even understand why the heck are they sending me Chinese emails when I can't even read. They sent me a wrong server in the email which shows that the way they managed the clients server are just simply messy. How can trust a broker that will send you wrong server....? Moreover, they have been keep calling me asking me why I haven't deposit? Especially when people are busy working. Which is a red flag to me. No legit broker will keep bother someone to deposit money. The worst part is when I try to create an demo account. They led me to a page where I can't even open an demo account. It keeps shows and ask me to deposit money. Really bad. Stay away.
1 trader has found this review helpful
I
Reply by FOREX.com submitted Jun 25, 2021:
Thank you for your review! We are sorry to hear about the miscommunication that you have been having with our teams. We always strive to provide accurate and complete information to all our clients every time they reach out to us. We hope to quickly resolve this for you. Please reach out to our support team once more, and one of our Specialists would be happy to sort this out for you. Additionally, you are able to use this link to open a free demo account with FOREX.com, no deposit necessary:

https://www.forex.com/en/open-an-account/

If you have any additional questions or concerns, please reach out to our support team by phone, live chat, or email.
S
Make Love YOU, Bosnia and Herzegovina,
Feb 27, 2021,
Registered user

literall scam, took 100 euros on deposit and didnt even get it

worst customer service ever, i paid and on my bank statement where i paid 100e to GGMI they say their financing support is working on it, what a joke, it has been 10 days and they havent done poo,
3 traders have found this review helpful
S
Reply by FOREX.com submitted Jun 25, 2021:
Thank you for taking the time to submit a review with us. We understand and appreciate your frustration in this matter. Please allow us to help you resolve your issue.

While we strive to make our deposit process as seamless as possible, we must balance this with our duty as a regulated firm to verify details under the “Know Your Customer” (KYC) and Anti-Money Laundering (AML) guidelines set forth by our regulator. We are required to request some information from you before you make your deposit to show that you are the sole owner of the bank account being used to fund your trading account. Please check your email to ensure if this is the case. When you are ready to make a new deposit with a verified account, it should be automatically posted.

Please reach out to our support team if you require a deeper explanation or have any additional questions by phone, live chat, or email globalsupport@forex.com.
K
Cali, USA,
Feb 11, 2021,
Registered user

Good and transparent broker. Commission is a little high

Service use: Live Length of use: 6-12 Months
Good servers and only transparency. Never felt like they took my money but the commissions are a little higher than your usual broker.
1 trader has found this review helpful
K
Reply by FOREX.com submitted Jun 25, 2021:
Thank you for your kind review! We hope you continue to enjoy trading with FOREX.com and appreciate our services. We take pride in providing competitive spreads; however, we understand that it might not be suitable for all trading strategies. For this reason, we provide different types of accounts for all kinds of traders. For instance, we offer Commission and STP Pro accounts with tighter spreads compared to the standard account. With the STP Pro account, traders who are looking to trade with high-volumes and deep liquidity would have the opportunity to trade directly with our liquidity providers. Please see the following to learn more about these accounts:

https://www.forex.com/en-us/trading/our-accounts/

Please reach out to our support team by phone, live chat, or email for additional information.
R
Usa, USA,
Dec 2, 2020,
Registered user

Forex.com is fraud.

Service use: Live Length of use: 3-6 Months
Forex.com is fraud company. They are working against clients. To rob clients and steal the money. Theire price is not accurate. Stay away from this broker. Now I'm going to open federal report against them to take my money back .
5 traders have found this review helpful
R
Reply by FOREX.com submitted Feb 8, 2021:
Dear Roomalahmadzai,

Thank you for taking the time to provide feedback.

FOREX.com and its subsidiaries are regulated in 8 jurisdictions worldwide, including CFTC/NFA in the US, IIROC in Canada, FCA in the UK, and CIMA in the Cayman Islands. We operate in highly regulated environments, with strong oversight into trading practices and execution. We do not pick and choose which trades to accept or adjust price or the trades' execution speed. We have automated every aspect of the trade process, intending to ensure your trades are executed as fast as possible at the price you expect – or a better one.

Customers are responsible for monitoring their accounts and maintaining the required margin to support open positions and avoid liquidation. Please reach out to us at support@forex.com or send us a message through our chat and provide us with more detail so that we can address your concern.
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Frequently Asked Questions

How do I trade on forex.com?

To make a trade on Forex.com, the following steps explain the main procedure.
  • Select a currency pair
  • Analyze the market
  • Read the quote
  • Pick your position
  • Entering a buy position
  • Entering a sell position

Is forex.com a good broker?

Unbiased traders reviews on ForexPeaceArmy is the best way to answer if Forex.com is a good broker. https://www.forexpeacearmy.com/forex-reviews/66/FOREX.com-fx-broker-reviews

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent Forex.com community discussions: https://www.forexpeacearmy.com/community/tags/forexcom/

What is the minimum deposit to open an account with forex.com?

Forex.com requires a minimum initial deposit of 100 of your selected base currency.

However, Forex.com recommends to deposit at least 2,500 to allow more flexibility and better risk management.