Forex.com
Forex.com probably has the ultimate domain for a Forex broker. But does their service live up to the titanic domain? Is Forex.com a Scam that preys on new traders? Please post your experiences with Forex.com so we can get to the bottom of this together. First a little about Forex.com.
FOREX.com is a division of the GAIN Capital Group, headquartered in New Jersey and New York. Private forex traders can take advantage of the market expertise and financial strength of GAIN Capital Group and access an institutional FX trading platform, GAIN Capital representitives are one of the only Forex analysts from a forex broker I see give interviews on national television here in the USA. Forex.com does operate a trading desk which is a stark contrast to an ECN broker and the advantages they bring. Forex.com is commission free and offers competitive spreads on their Standard accounts.
$50k Practice Trading Account
Forex.com starts you out with a free no obligation practice account. To beginner traders, Forex.com presents a few easy steps before you should start trading with real money in Forex.
Understanding the FOREX market.
Forex.com provides weekly live webinars where traders of all levels can come and share their thoughts on trades and techniques.
Step 2: Prepare to trade in a live environment.
Forex.com holds training seminars both on line and in the real world, where real forex professionals can teach you the ins and outs of trading Forex for real.
Step 3: Test your Forex strategies risk free.
With a 30-day practice account offered free of charge, you can get acclimated to trading with Forex.com’s platform.
Forex Education.
Forex.com offers free forex educational material. This is key to a new trader’s success in Forex trading.
Live Forex Webinars
Join us for free interactive webinar. Our webinar series provide instruction, demonstration and discussion.
Forex Workshops
Local workshops are offered in many locations tailored for all levels of forex traders.
Training courses
Learn at your own pace. Sign up for one of our comprehensive online training courses.
Phone Consultations
Offers one free phone consultation (subsequent consultations offered at a fair price) on developing an appropriate trading strategy for you.
The Forex.com Trading Platform
Been familiar with Forex.com’s FOREXTRADER platform for a few years. My favorite aspect of this platform is the “point and shoot” feature which allows you to close a trade within an instant. Good for precise entries and exits, this feature has gotten me out of some pretty close trades and undoubtedly saved me pips. Forex.com’s FOREXTrader platform, offers real-time forex charts, up to date professional forex market research and news that might move currencies, and a host of technical forex trading tools. For beginner traders, FOREX.com offers forex training programs, forex minis, and information about trading the foreign currency market. When I first joined, I received a complimentary “lesson” on Forex trading via phone. The platform has built in Forex News thats streamed live to yoe. You are able to create your own workspaces which includes multiple monitor setups for those of us who have more than one monitor. The Forex.com spreads are not the lowest in the industry however. If you are trading a mini account, you are suffering from a 3 pip EUR/USD spread, a 9 pip GBP/JPY spread, a 4pip EUR/JPY spread, etc. This does not mean you can not be profitable with Forex.com however. Once you have a standard account, the spreads and leverage are lowered.
Says:
Really good broker. Been using Forex.com for years, always was a good place to trade
January 17th, 2009 at 6:23 amSays:
I also deposited some funds with Forex.com — When i tried them with a demo account, I made over $50,000 in one night trading standard lots, but I lost $500 within three days of my real money.
I just don’t get it…
January 21st, 2009 at 2:35 pmSays:
FOREX.com is OKAY, but they are a dealing desk broker, not good for you the user.
February 6th, 2009 at 4:23 amSays:
Forex.com is ok, but they are nothing compared to a real ECN or non dealing desk broker.
February 12th, 2009 at 8:25 amSays:
I liked Forex.com until I found a broker with no spreads
February 18th, 2009 at 12:24 pmSays:
Ted,
July 8th, 2009 at 11:06 amwhere did you find a good no spread broker?
Says:
I have been using them for over 2 years now I can’t complain about anything. I probably am one of the few customers they have with a mini account with over $10,000 in it
July 24th, 2009 at 6:21 pmForex.com gives me pretty tight spreads with it since my balance is large enough. (as low as 1.2 pips for usd/jpy)
I would recommend using them if you are willing to deposit at least $5,000 in your account to start (their Forex Premier level I believe)
I’d say if you’re not willing to put $5,000 in your account, you should not be trading forex at all in the current highly volatile environment
Says:
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March 28th, 2010 at 5:04 amSays:
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July 16th, 2010 at 11:09 pmSays:
Forex.com is pure bucket shop, the stock equivalent of a chop shop, do not put funds in them!
August 10th, 2010 at 3:51 pmSays:
This can affect FX market
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February 16th, 2011 at 2:47 pmSays:
If Forex.com is so great, why do so many people not use them after very shortly?
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March 2nd, 2011 at 5:26 amSays:
Is Zecco.com really Forex.com?
March 4th, 2011 at 4:12 pmSays:
I’ve been using them for four years, no problems, withdrawals on time, no problems!
March 6th, 2011 at 6:02 pmSays:
Forex.com is a bad broker for so many reasons, too many to enumerate here.
March 7th, 2011 at 7:08 pmSays:
Interesting read, ty.
March 9th, 2011 at 1:50 amSays:
Forex.com is a pretty good broker, I don’t get why everyone rips on them so hard.
March 9th, 2011 at 9:24 am