Forex.com is a big and famous broker in the forex market. It was founded in 1999 and owned by GAIN Capital Holdings in 2001. Having a mother company, especially a trusted one since GAIN Capital Holdings has joined the New York Stock Exchange, helps boost Forex.com’s reliability to the next level. Let’s go into details to see why you should open Forex.com accounts.
Why you should open Forex.com accounts
For regulations, the key factor for reliability, Forex.com has acquired 4 different ones from 3 continents. It has the FCA regulation of the U.K, the CFTC regulation of America, the IIROC regulation of Canada, and the JFSA regulation of Japan. All of them are the top reliable regulation in this industry.
However, in America, Forex.com’s customer cannot trade CFDs.
The trading cost at Forex.com is relatively low when compared to other competitors in the market. For the main currency pairs, the spread is only from 0.8 to 1 pip. The lowest deposit rate is 250 dollars.
Forex.com has designed it own trading platform, called Advanced Trading. It has a very wide range of indicators and chart drawing tools. You can choose any of the total of 139 indicators on this platform. It also has the Automatic Trading Center that helps you develop your own fully automatic trading systems.
For traders who prefer the web trading platform, Forex.com’s Web trading platform is very easy to use, loaded with charts and analyzing tools. For mobile platforms, the advanced and modern AdvantageFX trading app of Forex.com is considered one of the best mobile trading apps in the market. The broker Forex.com stops at nothing to give its customers the most innovative and user-friendly trading platforms.
Forex.com has only 2 types of account: Standard account and Commission account. The trading fee of Standard account is mainly spread while Commission account is spread + commission (spread is very low).
Forex.com Standard account
You can open this account anywhere. You can open it on Forex.com’s own trading platform or the common MT4 and MT5 platform. When you open this account, you can trade more than 80 different currency pairs. The cryptocurrency option is more limited. You can only trade Bitcoin, Ethereum, Litecoin, and Ripple with this account. To start trading, you need to deposit at least $250 into the account, a fair rate compared to other brokers at this level. This account is completely commission-free. The maximum leverage is 1:200, quite high for a broker with 4 regulations. The minimum lot trading volume is 0.01 lot.
Forex.com Commission account
Unlike the Standard account, you can only open the Forex.com Commission account on its own trading platform. It is not available on the MT4 or MT5 platform. The number of trading instruments allowed in this account is the same as the Standard account. This account charges you both spread and commission, but the spread is very little. The commission is only $5, one of the lowest rates in the market. To start trading, you have to deposit at least $2500, ten times higher than that of the Standard account. Other features are the same as Standard account.
In conclusion, Forex.com is a very reliable and safe forex broker. It has reasonable prices and a very advanced self-designed trading platform. They are enough reasons why you should open Forex.com accounts.