Forex.com Review

2.046 · 296 REVIEWS

Gain Capital

StoneX Group Inc

Updated: Nov 24, 2021 · FOREX.com  · Is this your company?

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.

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, NinjaTrader, Desktop Terminal, TradingView
Dealing Desk: Yes
Web Trading: Yes
Mobile Trading: Yes
Currencies: (80+)
Cryptocurrencies: (5+)
CFD: (25+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Bonds, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
MAM: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, ACH Payments (echeck), Check, Local Bank Transfers
Withdrawal Methods: Bank Wire, VISA, MasterCard, ACH Payments (echeck), Local Bank Transfers

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FOREX.com profile provided by FOREX.com, Aug 9, 2021

FOREX.com is part of StoneX Group Inc. (NASDAQ: SNEX), a publicly traded company, and meets the highest standards of corporate governance, financial reporting and disclosure. StoneX has a proven record of financial strength and stability, with resources to continue to innovate and lead the industry forward. We offer the MetaTrader4, MetaTrader 5, TradingView, and proreitary FOREX trading platforms for residents globally. Our offerings are based on your country of residence.

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2.046 · 296 REVIEWS
Forex Peace Army
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Traders Reviews

Extrader,
VN, Viet Nam,
Nov 22, 2021,
Guest

Sign of trading against clients

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.
 
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.
  1 trader has found this review helpful
Maryland, USA,
Jun 29, 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
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.
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
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.
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
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.
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
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.
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 .
  4 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.
  4 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.
  6 traders have 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.