Forex Reviews
Forex Customer Reviews (7)
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Forex Features and Benefits
Forex.com is a leading online forex trading platform with a range of features and benefits for traders of all experience levels.
Key features include:
- User-friendly interface: Easy to navigate and understand, making it accessible for beginners.
- Wide range of currency pairs: Offers major, minor, and exotic pairs, allowing traders to diversify their portfolios.
- Real-time market data and news: Provides up-to-date information on currency prices, economic events, and market trends, enabling informed trading decisions.
- Educational resources: Offers tutorials, webinars, and trading guides to help beginners learn the basics of forex trading and improve their skills.
- Demo account feature: Allows beginners to practice trading without risking real money, providing a risk-free environment to familiarize themselves with the trading platform and test out different trading strategies.
Benefits of using Forex.com include:
- Access to a wide range of markets: Forex.com provides access to over 200 markets, including forex, indices, shares, commodities, and cryptocurrencies.
- Competitive pricing: Offers competitive spreads and commissions, providing cost-effective trading.
- Advanced trading platforms: Provides advanced trading platforms, including the proprietary FOREX.com platform and MetaTrader 4.
- Robust risk management tools: Offers a range of risk management tools, including stop loss orders and take profit orders, helping traders manage their risk effectively.
- 24/7 customer support: Provides round-the-clock customer support, ensuring traders can get the help they need when they need it.
Remember, forex trading involves significant risk and isn't suitable for all investors. It's important to understand the risks involved and consider your financial situation and trading experience before trading.
Forex Pricing
Forex.com offers two types of accounts: Spread-Only and RAW.
For the Spread-Only account, the costs to trade are the bid/ask spread. The EUR/USD spread can be as low as 1.2. There are no commissions for this account type.
The RAW account offers consistently tight spreads, with the EUR/USD as low as 0.0. However, this account type has a fixed commission of $7 USD per $100k USD traded.
Both account types offer cash rebates of up to $10 per million traded. They also offer interest on your average daily available margin balance. You can earn 4.5% APY interest on your balance up to $500k, and an additional 1.5% APY on any balance over $500k.
Please note that during times of high volatility and/or low liquidity, spreads may be higher than the typical and as low as spreads published on the website.
Forex.com also offers MT4/MT5 Forex traders a commission-free pricing environment. While the minimum spread is 0.8 pips or $8.00 per 1.0 standard round lot, average costs are above 1.3 pips or $13.00.
Forex.com's pricing is transparent and easily found. The spreads vary depending on the type of account the client chooses.
Forex FAQs
Forex Alternatives
The top 10 Forex.com alternatives, based on various reviews and ratings, are:
- IG - 9.9/10 overall, known for its competitive pricing and extensive range of tradable assets.
- Interactive Brokers - 9.9/10 overall, offering a vast selection of global financial markets.
- Saxo - 9.7/10 overall, recognized for its extensive range of offerings and robust trading platforms.
- CMC Markets - 9.6/10 overall, praised for its platform technology and low spreads for forex traders.
- eToro - 8.8/10 overall, popular for its social trading features and user-friendly interface.
- AvaTrade - Great for beginners and copy trading, with a user-friendly interface and innovative features.
- OANDA - US forex broker with a strong focus on research tools and user-friendly platforms.
- Fusion Markets - Australian forex broker known for its competitive pricing and reliable services.
- Global Prime - Global forex broker offering a range of trading options and competitive fees.
- IC Markets - Global forex broker with a focus on technical analysis and competitive spreads.
These alternatives offer a variety of features and services that cater to different trader needs and preferences.
Forex Return Policy?
At FOREX.com, the process of withdrawing funds is straightforward. A withdrawal can be requested via MyAccount. The minimum withdrawal amount is 100 of the account's base currency, or the remaining amount if less than 100.
Deposited funds must be returned to the originating funding source in the following order: Credit/Debit Card, Wire Transfer. Excess funds may be withdrawn via bank transfer.
For Credit/Debit Card withdrawals, the processing time is up to 24 hours, and the maximum withdrawal amount is $50K or transaction up to the amount funded. There are no fees for this method.
For Wire Transfer withdrawals, the processing time is up to 48 hours, and there is no limit on the withdrawal amount once card deposits are refunded. Additional fees may be applied by the receiving bank.
A withdrawal of funds will result in a reduction of funds available to be used for margin to maintain open positions. This may result in the liquidation of any or all open positions. It is the responsibility of the account holder to ensure that the account holds enough margin to maintain open positions.
If the balance is lower than $100, the minimum amount for withdrawal is the full remaining balance.
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