Forex.com is a currency trading brokerage site which is operated by Gain capital Holdings, Inc., a financial services company that has been doing business since 1999. Gain Capital is currently listed on the New York Stock Exchange (NYSE: GCAP)
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The firm offers several different trading platforms for its clients:
- MetaTrader 4 – MetaTrader is a very popular trading platform and it is considered as the go-to platform for forex trading. MetaTrader 4 is filled with features and tools that is helpful for both new and experienced traders.
- FOREXTrader PRO – FOREXTrader PRO is a web-bsed platform designed with forex in mind and features a vast array of trading tools such as pattern recognition software, signal and advanced charting package.
- GTX ECN Platform – GAIN Capital’s GTX ECN Platform is for high net worth professional traders and institutional clients. Traders have the will have access to high spreads and liquidity with GTX Direct.
Regulation and Fund Security
Forex.com is a registered member of the CFTC and National Futures Association (Number 0339826). It is also registered with the UK FCA in compliance with local regulatory requirements meaning its clients are protected under the Financial Services Compensation Scheme covering up to £50,000 in the event the broker becomes insolvent.
Clients over at Forex.com have a choice between a standard or premium account. An amount of $500 is required for clients to open a standard account although it is recommended that they deposit $3000 in order to be able to access the full range of tradable instruments. An amount of $25,000 or more is required to open a premium account.
Commission and Spreads
Forex.com does not charge its clients any commission for using their services, like any other online forex brokers out there. The way they earn is they add a spread on top of the prices that traders get from the market. These spreads change constantly. For major pairs like the EUR/GBP currency pair, pips start as low as 1.2 pips. For those who want lower spreads, traders can trade through the GTX Direct ECN platform.
The firm offers customer service support 24 hours a day 5 days a week. Support can be contacted through email, Fax, Live Chat and Telephone.