Forex.com Review – A Global Leader in Forex Trading
Forex.com is a leading trading company. It provides you the flexibility to trade in more than 4,500 global markets. You can also trade in more than 80 currency pairs and thousands of equities, commodities, indices, and cryptocurrencies through Forex.com. You can trade 24 hours a day for 5 days a week. GAIN Capital Holdings which is a global provider of online trading services, is the parent company. It has clients in more than 140 countries. Forex.com is a transparent trading service provider with a strong regulatory framework. You get access to MetaTrader 4 trading platform with excellent trade execution and highly competitive pricing.
Why Choose Forex.com?
Forex.com has established its niche which differentiates it from the competition. The key reasons why you should choose Forex.com over others are discussed below:
Global Market Leader
Forex.com is the global market leader when it comes to trading in CFDs. They have been winning customers and retaining them due to their superior trade execution and competitive pricing. Their trade execution rate is 99.99% executed in less than 1 second. The average trade execution speed is 0.02 seconds. The entire process of trade execution is completely automated without any human intervention which results in excellent trade execution. 58.83% of the limit orders were executed at a price better than the requested price. 100% of the limit orders are executed at the requested rate or better.
Value and Reliability
Forex.com continuously strives to provide the best value to its customers with reliable trade execution. They help to keep your costs down by offering you competitive spreads and quality trade executions. The trade execution process is fully automated and completely backed by Forex.com. It is not outsourced to a third party and Forex.com addresses all your queries themselves. Since the trades are executed as fast as possible, you get your expected price or even better while trading on their platform. When the market swings in your favor, the savings are automatically passed on to you by executing the trades at a better price.
Support and Guidance
You get excellent support and guidance while trading on Forex.com as investor education is an integral part of their business. There are different types of educational resources and quizzes which provide you orientation on different aspects of trading. They also offer you webinars to understand their desktop trading platform. This helps you to get acquainted with the trading platform and execute your trades better. You get access to professional charting tools and indicators which allow you to trade with flexibility and precision. Forex.com also provides you with integrated analysis, news, and trade ideas which help you to choose better trade and profit from it.
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What is Forex?
Forex.com has a long and proven track record of financial strength and stability. This allows their customers to place their faith on them and trade with complete peace of mind. They are adequately capitalized to continue their operations and expand in the near future. According to the data of Q1 2019, the total assets being managed stood at $1.304 billion. The customer liquidity was at $855.7 million and total liquidity was reported to be $208.9 million. The minimum regulatory capital requirement stood at $101 million. The retail client money in Forex.com is maintained separately from their own funds and are maintained in the top-tier banks.
Lowest Cost for Crypto Trading
Forex.com allows you to trade cryptos and benefit from the crypto volatility. You can trade in cryptos without actually owning them. All major cryptos like Bitcoin, Ethereum, Litecoin, Ripple, etc. can be traded on Forex.com. According to the CFD spreads and financing competitor comparison, Forex.com is the lowest cost platform for crypto trading. You can trade long and short in cryptos. Your daily cost for long trading is 0.0411% and -0.0137 for short trading. Overnight funding for short trading is -$1.37 and $4.11 for long trading. The total daily cost for one trade for short trading is $33.63 and $39.11 for long trading.
Types of Forex Trading Accounts
The different types of forex trading accounts offered by Forex.com are discussed below:
The standard account is best for traders looking for a traditional forex trading experience. You get very competitive spreads with the standard account with no commissions. The standard account offers you clear and transparent pricing along with superior trade execution. You get the chance to reduce your costs by up to 15% with cash rebates.
The commission account is designed for traders who want the flexibility of trading significant reductions on spreads of up to EUR/USD of 0.02 with very low commissions. You get charged a nominal commission of $5 per 100k of trade executed. You also get access to our sophisticated and modern trading platform with high-quality trade execution.
Direct Market Access Account
If you are a very high-volume forex trader who wants high degree of control over the trades executed, then the Direct Market Access (DMA) account is perfect for you. The DMA account lets you benefit and profit from the rapid price opportunities. You can trade using the prices sourced from global banks and the best liquidity providers without any markups. You can also view multiple levels of real-time pricing in your forex.com order book.
The uniqueness of Forex.com is that it provides trading platform which is suited to both new and seasoned traders. Forex.com is the world’s largest MetaTrader (MT) broker. With the desktop trading platform, you get access to customized layouts, trade preferences, one-click trading, etc. which improves the quality of your trades. You also get free EA hosting capabilities and the convenience to trade either from the web or mobile, based on your convenience. They provide you real-time trading ideas and news. Trained and experienced market strategists work closely with you for designing your trading plans. Real-time trade signals and analysis tools are also provided by Forex.com to make your trades better and more profitable.