Forex.com Review

2.023 · 294 REVIEWS

Gain Capital

Updated: Jun 16, 2021 · FOREX.com  · Is this your company?

FOREX.com is well established and regulated broker that offers the MetaTrader4 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.

Forex.com

Related sites include FXTradingPro.com.

FOREX.com is a subsidiary of GAIN Capital Holdings.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 200:1
Minimum to Open Live: $100
Established: 2001
Address: Bedminster One 135 US Highway 202/206 Suite 11 Bedminster, NJ 07921, United States
Contact: support@forex.com, 1.877.367.3946
Regional offices:
Regulators: CIPF #, CIMA #25033, FFAJ #1539, FCA #113942, NFA #0339826
Prohibited countries:
Trading platforms: MT4, MT5, WebTrader
Web Trading: Yes
Mobile Trading: Yes
Currencies: (80+)
Cryptocurrencies: (5+) Litecoin, Ethereum
CFD: (25+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Bonds, Oil, Other Commodities
Scalping: Yes
Deposit Methods: VISA, MasterCard, Local Bank Transfers, Maestro
Withdrawal Methods: VISA, MasterCard, Local Bank Transfers, Maestro

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2.023 · 294 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

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Traders Reviews

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.
 
Isb, Pakistan,
Mar 13, 2021,
Registered user

Scammers

Service use: Live

Length of use: over 1 Year

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
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,
  2 traders have found this review helpful
Cali, USA,
Feb 12, 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
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 .
  3 traders have found this review helpful
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.
90331, USA,
Oct 21, 2020,
Registered user

Continous problems with Forex.com

Length of use: 6-12 Months

This broker has caused me nothing but headaches. Customer service is below anything I've experienced before (at least in the investment industry). Getting your funds is an ordeal. Customer service speaks broken English, hard to communicate with.
  3 traders have found this review helpful
Reply by FOREX.com submitted Nov 5, 2020:
Dear TraderJoesFX,

Thank you for sharing your feedback. It is troubling to hear that you had such an unsatisfactory customer service experience, and we would welcome any additional details that you can provide so that we can make things right and improve our service. Withdrawals can be quickly and easily requested by logging into your MyAccount portal and clicking “Funding” > “Withdraw.” Funds may take 2-3 business days to be posted to your bank account. Please be advised that ACH deposits always require a 5 business day clearing period before becoming available to withdraw.
Trader,
Ontario, Canada,
Jul 14, 2020,
Guest

Withdrawal in 2 days

Service use: Live

Length of use: 0-3 Months

Live trading with Forex.com since 3 months. Until now everything perfect. After reading the reviews I tried to withdraw some money. Within 2 days it is in my account. Good job. Keep it up
  1 trader has found this review helpful
Cairo, Egypt,
Jul 1, 2020,
Registered user

Even after connecting them they are thugs (Forex.com are thieves

Service use: Live

Length of use: 6-12 Months

You told me that I can contact you privately to schedule a call:
- First who can I do this (you didn't leave any contact details).
- I asked for a call many times and they refused.
- I wanted a clarification for the fake numbers in your platform (which you corrected and replaced by any other numbers you want) and clarify by some words without telling that It was fake platform. And your company play with numbers on it.
- How should I sleep by numbers (when I trusted your platform) then I wake-up on your email by another numbers.
- This way you can do all what you want and say (due to the current circumstances ...).
- I asked for a call many times and the reply was (due to the current circumstances ...).
- Now you are telling me that I can contact with you privately without leaving the way of contact.
I am telling you that (you are as a company) have all my contact details and you can call me (In Arabic) whenever you want to discuss this issue.
- When you call I will write again to tell everyone that you did.

May 23, 2020 - 1 Star I sent you my complaint previously then I contacted with them again.
After lot of days they replied telling that they have the right to do whatever they want.
They admitted that they have the right to provide a fake data VIA their fake platform then sending email to take the rest of money in the account.
and after that they want me to believe in what they say.
Fake platform.
Thieves answer the email.
Thugs stool the money.
Is it a company or thieves gang?
The platform telling that the trade was closed in a specific price. with a specific loss amount. Then they send an email by very new data.
It that their right as they say???!!!

Apr 27, 2020 - 1 Star Dear Sirs.
Good day I NEED YOUR KIND HELP.
last 20/4 I bout future oil by 20 Cent then it expired and closed (as it was expired) by -20 USD loss amount.Then after two days, I received an email from (Forex.com// the co. I work with) telling me that they adjusted my account and took all the money in the account (165 USD + the previous 20 USD "which I lose" + they closed all the open positions forcibly and took all the money.Is that acceptable and fair.
- I thought that it is a big and respectable Co. but it seems that we are nonsense and we can do nothing against their TYRANNY, as I made a chat with them and I didn't get any reasonable reason. And they told me to send an Email.- I did and sent 3 emails and the only thing they did was that sending me (Acknowledge: [EXT] Fwd: Important US Crude Oil cash adjustment (Ticket# ---).- Please help me by the way I can take my right back and fight against this tyranny.
I know that it is a small amount but (for me) it was all what I have.So Please help me and tell me the methods I should follow and all the groups I should talk in and if there are any news groups I am ready to be against them as they took all my money.By the way the prices in the platform was different from the prices they sent me on the (adjustment email). Should I know the prices Via the platform or the email.Thank you for advance and kind assistance.Kindly you can contact me directly via messenger with thanks.
Simply:
the position was closed by lose 20 $. I slept and woke-up to find them took all the money in the account (loose after ending the position// I contacted them but they don't care about me as I am a small trader).

Reply by FOREX.com submitted Jun 29, 2020 Dear Hussein_Imam,



Thank you for sharing your feedback.



As communicated to you on April 22, 2020, the price for a barrel of WTI oil became negative for the first time ever on April 20, 2020. This unprecedented move, a result of oversupply, weak demand and physical storage issues, lead to the price for the May WTI contract trading as low -$40.32 per barrel, ultimately settling at -$37.63 for the day. Negative pricing created challenges for our settlement process and our US Crude Oil May contract settled at a price of $0.01, not reflecting the negative pricing of the underlying market.



To ensure proper alignment with the underlying market, we reviewed all impacted long and short positions to determine whether a cash adjustment was required to correctly reflect the price of the market at the time of the negative pricing and an adjustment was made to your account to reflect the correct price of the market for the US Crude Oil positions you held.



Please contact me privately with the best number and time to reach you and I would be happy to schedule a call to discuss your account in more detail.
  5 traders have found this review helpful
Philly, USA,
Jun 26, 2020,
Registered user

Shady

Service use: Live

Length of use: 0-3 Months

I’m going to tell yal honestly how it works and it may work this way with 9/10 brokers most are out to get your money. The only company I never heard anything bad about is blueberry market yet they don’t accept us clients. Now forex.com will slip you in a losing trade. Trigger your limit order before the market hits. Also there been a few times the market went up to 6 pip above my order retraced down and didn’t trigger my order basically I’d missed the trade and for those who don’t understand that Entry is the critical part of the market if you miss it u may not b able to get in cuz the market do a lot of whipsaw thus you’ll have to lower your position and increase your sl. I even risk my money just to trap them and they did what they do. I can get slipped into a market with more distance but my order don’t get trigger when I’m at the first candle in a reversal? Also they stop loss hunt. This broker is shady. And this is how you’ll know when every issue you present it’s always returned to sender. No accountability and they try to make you feel stupid or like you do t know what your doing or talking about- this is shady behavior. And they know what I’m talking about cuz I called them out and told them I would at it a review so forex.com don’t revenge reply and try to cover it up.
  4 traders have found this review helpful
Secaucus NEW JERSEY, USA,
Jun 23, 2020,
Registered user

Accepts USA........ ok not great.

Service use: Live

Length of use: 0-3 Months

*Be careful with this broker..... If your margin % hits zero you will loose the trade.
*If you don't have a teacher you will fail.
*Customer service is not that great.. depends on who answers phone.
*Trade charts look different because of time frames.
*Money not available until cleared by bank (like with all brokers, in a few days) and proper bank account proof established (bank statement) thats the law here in the usa.

Jun 22, 2020 - 1 Star Don't trade more then 50% of what you deposit because there will be large fluctuations and they will take your money if your out of your $money range.... and when its going out of your favor in the trade they will stop you from trading because they want to take your money.

Jun 16, 2020 - 1 Star Trading with forex.com is like volunteering to walk into a cage with 10 convicted thiefs and money sticking out of your pocket. Just like most company's these days... predatory behavior with no honesty. Help us put people like this out of business.

Jun 9, 2020 - 1 Star I noticed the spreads were low so i signed up for Forex.com and found out the spreads were not for the usa....(or not for me because i didn't get them) they have a separate sight for outside of the usa but they don't say that clearly on their webpage because they know they are attracting us customers with the lower rates pages that they post for other country's.
  1 trader has found this review helpful

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.