It is quite obvious what Forex.com offers based on the domain alone. However, even if forex trading is one of the main focuses of Forex.com, this broker also provides access to several other markets. In addition to a world leading forex platform, Forex.com can be used to trade shares, commodities, and cryptocurrencies. Check out our complete review to learn more.
Is Forex.com a scam?
Forex.com is a broker that’s owned and operated by GAIN Capital UK Limited, a financial company registered in England and Wales. Since the company is registered, Forex.com is overseen by the standard business authorities in the UK and on top of that GAIN Capital has been authorized by the Financial Conduct Authority (FCA). Any broker that has a license from the FCA is operated under Europe’s strictest regulations which means they are completely safe to use.
So, the answer to the above question is: No, Forex.com is not a scam but rather a very trustworthy company that you can use to fulfill all your trading needs.
Forex.com’s Tradable Assets
The first step when looking for a broker is determining whether that broker is legitimate and safe to use, which Forex.com is. The second step is to evaluate if the broker has all the assets that you want to invest in. At the time of writing, Forex.com offers access to the following markets.
- Forex Trading – You can speculate on over 80 currency pairs with Forex.com, 24 hours a day five days a week. You’ll find all the main currencies but also several smaller ones and even a few exotic currencies.
- Index Trading – Invest in 15 of the world’s leading indices in the form of CFDs. The indices part of Forex.com’s platform comes with fixed spreads as low as 1 pt.
- Shares Trading – On Forex.com’s trading platform you can invest in 90 of the most popular company stocks from the American and British markets. Also, use margins of up to 5% and gain the ability to easily invest both long and short.
- Commodities – UK and US crude oil, natural gas, cotton, and several food products can be traded with a margin of up to 3% on Forex.com.
- Cryptocurrencies – Speculate without ownership on Bitcoin, Ethereum, Litecoin, and Ripple. BTC can be traded against USD, GBP, AUD, and EUR.
Forex.com’s Two Platforms
We tend to say that all brokers have platforms that are suited for beginners and more advanced traders since that is often the case. However, this has never been as true as it is with Forex.com.
As an investor, you get to choose to either trade with Forex.com’s proprietary platforms or with the MetaTrader 4. The Forex.com platform comes in the shape of a web trader, an advanced desktop version, and as a mobile version for Android and iPhone.
As per usual, the MetaTrader 4 also comes as a web trader, in a desktop version, and for Android and iPhone. Forex.com also provides the latest news updates and an Expert Advisor (EA) that allows for automatic trading.
In addition, Forex.com offers several state-of-the-art analytic tools and other services that make the investment experience as smooth as possible. A large part of the broker’s website is dedicated to education, both in the form of video tutorials and as written guides.
According to Forex.com you can register an account and get started trading within 5 minutes, and we have no reason not to believe them. The registration process with most brokers is very easy and so is the case with starting an account with Forex.com. You can choose to open one of the following accounts:
- The Forex.com Account gives you access to the broker’s own platforms and tools and can be used to trade on all the available assets.
- The MetaTrader 4 Account can be used to trade all the assets available on MT4.
- The Risk-free Demo Account allows you to practice trading and lets you take the platforms for a test drive. The Forex.com demo account is one of the best we’ve come across.
Forex.com Support and Money Transfers
Forex.com provides a unique product called Money Transfers that is a tool used to deposit and withdraw money from your trading account. You can register for Money Transfer using a debit card or a bank wire.
If you would have any questions regarding transfers or the broker itself, you can contact Forex.com via the channels mentioned below.
Live chat: The chat option is available 24 hours a day Monday to Friday
Phone: Toll free from the UK: 0800 056 7928 or toll free international: +44 (0) 20 7429 7900
Forex.com also happens to have a very comprehensive FAQ where you can find answers to most questions regarding all of Forex.com’s products and services.