For currency traders, FOREX.com serves as a one-stop shop. FOREX.com is a fantastic option for brokers looking for a home base for their currency trading because of its enormous selection of tradable currencies, low account minimums, and amazing trading interface. The large education and research center at FOREX.com offers free, educational forex trading courses for traders of all experience levels, which will appeal to both new and seasoned traders. Even while FOREX.com is impressive, keep in mind that it isn’t your typical broker.
Pros and cons of FOREX.com
Pros of FOREX.com
- StoneX, the parent business of FOREX.com, is a safe (low-risk) broker for trading forex and CFDs because it is listed on the stock market (NASDAQ: SNEX) and governed by four tier-1 jurisdictions.
- In several important categories, including platforms and tools, FOREX.com won Best in Class honors for our 2023 Annual Awards.
- The multi-asset offering on FOREX.com’s flagship Advanced Trading (desktop) and Web Trading (browser) platforms, which offer a wide choice of markets, shines the brightest.
- Advanced charting from TradingView is available in Web Trader and is easily accessed by using the same username.
- Performance data is now freely accessible to live account holders thanks to FOREX.com’s acquisition of Chasing Returns.
Cons of FOREX.com
- Although it is scheduled to debut locally in 2022, MetaTrader 5 is currently only available outside of the United States.
- The instructional options for American traders are not as extensive as those on FOREX.com’s new UK website.
- On FOREX.com’s MT5 platform, there are only roughly 600 instruments available, as opposed to nearly 4,500 on its non-MetaTrader platforms.
- Despite supplying high-quality written content in both research and education, FOREX.com doesn’t produce video content as frequently as competitors in those fields.
Why Forex.com Over Others?
Should you sign up for a FOREX.com account? Let’s examine a few advantages of working with this broker.
- Several currency pairs for trading: You can buy and sell over 80 different currency pairings with FOREX.com. One of the world’s most complete providers of currency trading is it.
- An extensive list of signs: With over 90 different indicators to pick from, FOREX.com’s technical indicator offerings will be appreciated by those who utilize technical analysis to guide their trading. A single click will add an indicator to the chart of a currency pair. You can also add numerous indicators to a chart.
- There are many different teaching resources: For newcomers, forex trading might be scary. For traders of all skill levels, FOREX.com provides an outstanding array of research and educational resources. Every trader who opens an account with this broker will have the opportunity to learn something new, from live webinars to introductory and advanced risk management courses.
How safe is Forex.com?
GAIN Capital Group LLC, a fully-owned subsidiary of publicly traded StoneX Group Inc., operates FOREX.com as a DBA (NASDAQ: SNEX). Four tier-1 jurisdictions, including the United States and the United Kingdom, govern FOREX.com. Due to this, FOREX.com is an extraordinarily risk-free forex broker.