FOREX.com Review 2024: Is FOREX.com good for beginners?


Is FOREX.com a legitimate broker? The review of FOREX.com covers aspects such as regulation, trading products, account types, and leverage.

FOREX.com Company Profile:

FOREX.com primarily provides investors with foreign exchange trading services. The brokerage's official website is https://www.forex.com/.

The official website states that the company is a member of the National Futures Association (NFA). According to the NFA website, the information on the company's registration is verified to be true.

A Whois domain registration inquiry reveals that the company's official website domain was registered on June 22, 1997. With a history of 17 years to date, it is among the older entities in this industry.

FOREX.com official website supports two languages, Simplified Chinese and English, which may present some usage barriers for users in non-native regions.




The Development History of FOREX.com:

The FOREX.com website publicly disclosed their corporate development history. The company was established in 2001 and began its operation mainly offering foreign exchange trading services. Within only five years, it was listed on the Deloitte Technology Fast 500, ranking among the top enterprises and becoming one of the well-known companies in North America.

In 2009, they expanded beyond the United States into markets in the United Kingdom, the European Union, and Japan, followed by Australia, Canada, and others. In 2017, they officially launched their proprietary trading platform and were acquired by the StoneX Group, a Nasdaq-listed enterprise, after releasing a mobile version of the platform in 2020.


Is FOREX.com A Compliant and Regulated Broker? Does It Hold the Relevant Financial Regulatory Licenses?

FOREX.com's official website claims that the company is registered and regulated by authorities in eight different countries and regions, including the United Kingdom, the United States, Canada, Cyprus, the Cayman Islands, Japan, and Singapore, among others. Upon investigation, the website is found not registered and regulated in some of the claimed regions, but rather it's their parent company's registration and regulation. However, information about the parent company's authorization and affiliations could be found.

Among the disclosed regulatory information, two situations are observed: one, where the regulatory information of the parent company, StoneX Group Inc. (Nasdaq:SNEX), is available but that of its subsidiary, Gain Capital Holdings Inc., is not—here, the parent company states the subsidiary website as authorized; two, where both the parent and subsidiary companies are listed on the regulatory roll.






The Trading Instruments Offered by FOREX.com

According to the introduction on FOREX.com official website, the broker only offers forex products for trading. The product category is less varied, but real-time spreads and buy/sell prices are provided for each forex trading pair.

A diverse array of trading instruments can meet the demands of different types of users, but offering only forex trading might hinder users interested in trading other commodity classes, as engaging in unfamiliar commodity trading carries a higher risk.



The Trading Software Provided by FOREX.com

FOREX.com utilizes both a proprietary platform and the MT4 platform as trading software, offering respective entry points. Both the proprietary and MT4 platforms support PC, Android, and iOS devices.

MT4 is a well-known forex trading platform, many users have been utilizing the MT4 platform for years and may experience differences due to various download links and versions.


Deposit and Withdrawal Channels:

FOREX.com publicly discloses on their website that deposit and withdrawal methods include bank transfer, debit card, and wire transfer, with different channels having various limits, processing times, etc.

It is important to note that the withdrawal method is the same as the deposit method rather than being freely chosen. When depositing through mixed methods, it will settle in the order of bank transfer, debit card, then wire transfer.

The official website indicates that some channels may incur fees, but specific channels and rates are not disclosed. Users are advised to understand in advance to avoid extra losses.


Leverage Ratio:

FOREX.com does not publish information about leverage on their website, including which account can use leverage and the maximum leverage ratio, but provides different margin requirements depending on the type of forex, requiring users to do some calculations to determine the leverage ratio.

It is important to note that while leverage can magnify profits, it can also magnify risks. Caution is advised, as higher leverage is not always better and may lead to unacceptable losses.


Account Types and Minimum Deposits at FOREX.com

FOREX.com offers five types of accounts, including two special account types—joint accounts and corporate accounts—whose specific details are not disclosed. The remaining three account types are a standard account, raw pricing account, and MetaTrader platform account.

Standard, raw pricing, and MT platform accounts have different features and parameters, only the standard account has a demo trading account option, while the other two only offer real accounts.

The standard account does not disclose specific spreads, only indicating no hidden fees; the raw pricing account charges a commission of $7 per $100,000 traded, with major currency spreads at 0.0; MT accounts have no commission.


Spreads and Fees at FOREX.com:

The minimum spreads for the three account types are different, with the standard account not disclosing specific spreads, the raw pricing account’s spread at 0.0, and the MT account only mentioning “competitive spreads” without specifics.


Opening an Account with FOREX.com:

Currently, FOREX.com offers two types of accounts, real and demo accounts.

By visiting the broker’s official website and clicking the central part of the homepage, users can find the registration entrances for the two types of accounts, which have different registration pages.



Contact Information for FOREX.com:

FOREX.com's official website provides a variety of contact methods, including online customer service, telephone, email, and physical addresses, catering to different users' needs.


Pros and Cons of FOREX.com:


  1. Offers a variety of financial instruments, such as forex pairs, commodities, futures, and metals, allowing traders to operate flexibly across different markets and achieve diversified investment portfolios.
  2. Uses the highly acclaimed MT4 trading software, which provides traders with a convenient and efficient trading environment. The software is more reliable and efficient compared to proprietary software.
  3. Provides a variety of account services to meet the needs of different types of users. Users can choose based on their needs.
  4. Diverse regulation, with regulatory and registration information available from multiple regulatory bodies.
  5. Has been in operation for a long time, with a higher credibility compared to companies that have been in business for less than a year.


  1. Limited product offering: Only provides forex trading, which might be inconvenient.
  2. Limited language options on the official website: The official website only offers Simplified Chinese and English, which could be inconvenient for users speaking other languages.
  3. Unclear deposit and withdrawal methods: Although some information on depositing and withdrawing is provided, many specifics are not disclosed, leading to incomplete information.

Frequently Asked Questions by Users:

  • Q: Is FOREX.com safe?

A: The website has been operational for many years and has extensive regulatory information, indicating high safety. However, users are still advised to carefully consider and compare before making a choice.

  • Q: What is the minimum deposit required to open an account with FOREX.com?

A: The platform requires a minimum deposit of 100 units of the chosen currency to open an account, with the specific amount depending on the user's selection.

  • Q: Does FOREX.com provide any educational resources for traders?

A: Yes, FOREX.com provides an economic calendar to help traders stay informed about necessary trading-related events.

  • Q: What is the maximum leverage offered by FOREX.com?

A: The maximum leverage offered by FOREX.com varies depending on the selected forex type, with specific leverage ratios determined based on the chosen product.


FOREX.com is a long-operating forex broker with only forex products on offer, facing some information gaps on the platform. However, comprehensive contact methods are available, allowing users to consult customer service for inquiries. FOREX.com is shown as "operating normally" on traderknows.




Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

The End


Contract for Difference (CFD)

Contract for Difference (CFD) refers to a financial derivative in which investors and counterparties engage in speculative or hedging transactions by exchanging the price difference of a commodity. Importantly, this occurs without the need to physically own or trade the underlying asset.


Risk Warning

TraderKnows is a financial media platform, with information displayed coming from public networks or uploaded by users. TraderKnows does not endorse any trading platform or variety. We bear no responsibility for any trading disputes or losses arising from the use of this information. Please be aware that displayed information may be delayed, and users should independently verify it to ensure its accuracy.


Contact Us

Social Media