RoboForex Review 2020

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Contents

Trusted RoboForex Broker Review – Scam or not?

Table of Contents

Review: Regulation: Min. Deposit: Assets:
(5 / 5) IFSC (Belize) 10$ 9000+

You are looking for experiences for Forex Broker RoboForex? – Then you are exactly right on this page. The provider has been extensively tested and you will be presented in the following texts the result. Learn more about trading terms and opportunities at RoboForex. Is it a serious provider and should you really invest money there? – Inform yourself now.

The official homepage of RoboForex

What is RoboForex? – The broker presented

Roboforex is an international broker trading all types of financial products (over 9,000 markets). The company was founded in 2009 and has a great history to this day. RoboForex Ltd has a special brokerage license IFSC Belize “Trading in financial and commodity-based derivative instruments and other securities” under the number IFSC/60/271/TS. The address is 2118 Guava Street, Belama Phase 1, Belize City, Belize.

The broker Roboforex is headquartered in Belize and is regulated multiple times (more on that later). According to the website, it can be seen that it is a rapidly expanding company with more than 900,000 customers worldwide. Furthermore, it has multiple awards since 2009 and official sponsorship such as the Kickboxing World Champion Andrei Kulebin.

At first glance, it looks like a very diverse broker, because the offer with over 8 asset classes and 9000 markets is overwhelming. Also, the conditions for traders are looking very impressive to us.

Watch our full review video of RoboForex:

Facts of the broker:

  • Founded in 2009
  • A huge diversity of markets and account types
  • International Forex Broker
  • RoboForex belongs to a big company group based in the EU
  • Sponsors and awards for the best broker

RoboForex regulation and safety of customer funds

Regulations and licenses are a very important topic in online trading. A trusted Forex Broker should have a license from an official/government regulator. This creates trust in the customer. The broker must adhere to certain criteria and perform tasks to obtain such a license. A violation of the rules would mean an immediate loss of the license. Fraud with regulated brokers is almost impossible.

As described above, RoboForex is regulated and licensed. The broker holds a brokerage license from IFSC in Belize for trading in financial derivative instruments and securities numbered IFSC / 60/271 / TS. In addition, Roboforex is regulated by the TFC with the “category A”. This is an international license based in Hong Kong and England. This commission provides neutral arbitration and insurance coverage of up to € 20,000 in the event of an unlikely bankruptcy of the Company. The TFC reviews order execution, trading platforms and other features of the broker.

Not to be forgotten is the security of customer funds. The company strictly keeps its funds separate from client funds from large international and liquid banks. In addition, there is no additional funding and the account is protected against negative balance.

RoboForex is regulated:

  • Regulated by the IFSC in Belize
  • Regulated by the Financial Commission Category A
  • Coverage up to 20,000€
  • Negative balance protection

Review of the conditions for traders

In total, over 9,000 financial products and 8 asset classes are in the broker’s portfolio. This makes a first good impression on us because only a few other brokers in this category offer such a wide range. With 5 trading platforms, the broker is also very broad.

RoboForex offers different account models customized to the trader’s request (read later on this page). From higher deposits (5,000 €) you can, for example, get cheaper fees when trading in the Prime Account. There are 7 different account currencies available. Another great advantage is that you can create an account and create multiple trading accounts within it. The transfer of funds is very easy.

RoboForex Trading Conditions

In my experience, the order execution on many assets is very fast. The liquidity is always given, so opening large positions is not a problem. The costs of trading are pretty low and sting the competition. For example, trade forex from 0.0 pip spread. The trading fees always deviate from the account type. The maximum leverage of 1: 2000 is extremely high, but can be adjusted independently.

In summary, the fees and costs of trading compared to other providers in the low range. In addition, RoboForex scores with free and automatic cash withdrawals. From my experience, this broker is one with the best offer for private traders.

The best conditions for traders:

  • Trade over 9000 products in 8 asset classes (stocks, commodities, forex, CFDs, cryptocurrencies & more)
  • Spreads from 0.0 pip and 6 different account models
  • Maximum leverage 1: 2000
  • Protection against the negative account balance
  • No fees on deposit and withdrawal (20 different payment methods)
  • Scalping and Expert Advisors are allowed
  • There is an own social trading platform
  • Bonus program
Adress: Phone: Email: Support:
2118 Guava Street, Belama Phase 1, Belize City, Belize +65 3158 8389 [email protected] 24/7 Phone, Email, Chat

Review of the Platforms of RoboForex

In total 4 various trading platforms based on the Metatrader are offered for trading. The right apps are also available for smartphones and tablets. It is important to know that not all financial products can be traded on a trading platform. For example, there is a special platform for shares (RTrader).

Roboforex offers versions 4 and 5 of the world’s popular Metatrader. This platform has been in use by private traders for years and very much. You have numerous recruitment options there and can freely develop your trading. Adapt the platform to your strategy. Algo trading and automatic robots can be used here.

For better orientation also a MultiTerminal is offered. This allows you to keep an eye on all trading accounts and conduct professional risk management.

The platforms:

  • Metatrader 4 (Forex and CFDs)
  • Metatrader 5 (Forex and CFDs)
  • cTrader (Direct STP for Forex Trading)
  • R Trader (Stock Trading)
  • RoboForex Terminals (Mobile Trading)

ECN and STP Trading Accounts

ECN / STP is direct access to the foreign exchange market through banks or liquidity providers. There are no conflicts of interest between brokers and traders. In addition, the fees are extremely low. RoboFX offers ECN or STP access depending on the type of account. Real shares can also be bought from the broker because the company has direct access to the stock market. Unlike a market maker, RoboForex rules out fraud and 100% of the broker earns only through trading fees.

Mobile Trading for any device

Mobile trading is becoming increasingly important in the era of digitization. Traders also want to be able to trade the market from Unterwegs. With Roboforex apps, you can easily open and close positions with your smartphone or tablet. The apps are available for Android and iOS. Mobile Trading completes the broker’s portfolio and is another plus.

Mobile Trading on tablet

Professional charting and analysis with RoboForex

Technical Analysis is the world’s most successful and popular method of trading the markets. To do this you need a lot of different tools. The trading platforms come with an oversupply of indicators, drawing tools and settings at the start. Use the candlestick display for advanced analysis. Thanks to the candlesticks, you can see, for example, high, low, opening and closing prices in a certain period of time.

The platforms are so flexible that the analysis of each time unit is possible. There are also a number of technical analysis drawing tools available (horizontal, vertical and trend lines). Even user-defined indicators, which can be downloaded on the Internet or programmed by oneself, can be integrated into the trading platforms.

Use different tools:

  • Indicators
  • Technical drawing tools
  • Different charts
  • Automatic trading
  • Social trading

CopyFX (Social Trading) for traders is a good opportunity

Also, copy trading is offered at RoboForex. This is a rarity for Forex and CFD brokers nowadays. With the CopyFX platform, you can access more than thousands of different traders. The minimum investment here is 100 $. Either you copy other traders or you are copied yourself. If you sign up as a trade you can receive high additional commissions.

The advantage of this platform is the exact transparency of the participants. Discover which trader performs best and assess the risk. You have full control of your account and deposits at all times.

RoboForex social trading:

  • Copy other traders for free
  • Registers as a trader and earn additional money
  • Full control about your money

Easy and fast account opening with RoboForex

The account opening is uncomplicated and fast. Create your account with different personal information. Then you will get access to the customer area (picture below). In the customer area, you can manage your account and then create other different trading accounts.

RoboForex offers an unlimited and free demo account for each user. Similar to the live account, you can always create a new demo account in the customer area. Another point is the verification. The broker may only pay out funds to verified customers. We recommend verifying the account before capitalizing. Afterward, you can use all the functions. The verification takes only a few hours and is done with the upload of a passport and proof of residence.

Open your free account

Which account type I should choose? – There is a huge diversity

As already mentioned in the text above, there are more than 6 different account models adapted to the wishes of the trader. This is another big plus for RoboForex, as the selection offers traders the opportunity to optimize their trading. It should be noted, however, that not every financial product, such as cryptocurrencies, is available in every account. So it is worth the account models to go through before opening an account.

In the following points we give you an overview of the account types:

Standard Account (Fix and Pro):

  • Fix spreads starting at 2.0 pips or variable spreads starting at 1.3 pips
  • Minimum deposit 10$
  • Maximal leverage 1:2000
  • Cashback up to 15% of the broker commission
  • Free withdrawals
  • Cryptocurrencies only with variable spreads

ECN Account:

  • Fix spreads starting at 1.6 pips and variable spreads starting at 0.0 pips (+commission 4$ per 1 lot+)
  • Minimum deposit: 10$
  • Maximal leverage 1:300
  • Cashback up to 15% of the broker commission
  • Free withdrawals
  • Cryptocurrencies only with variable spreads

Prime Account:

  • Variable spreads starting at 0.0 pips
  • Commission 7$
  • Minimum deposit 5000$
  • Maximal leverage 1:100
  • Cashback up to 15% of the broker commission
  • Free withdrawals
  • Cryptocurrencies

Cent Account:

  • This account is for small investments. The position size is 10 x smaller
  • Fix spreads starting at 2.0 pips and variable spreads starting 1.3 pips
  • Minimum deposit 10$
  • Maximal leverage 1:2000
  • Cashback up to 15% of the broker commission
  • Free withdrawals

RTrader (Stock Trading)

  • Spreads starting at 0.0001 USD
  • 0.015 USD commission
  • Maximal leverage 1:200 (Trading hour)
  • Maximal leverage 1:4 (After trading hour)

Our review of the deposit and withdrawal proof on RoboForex

There are over 20 methods available for deposits and withdrawals. Capitalizing on the account should not be a problem. The deposits and withdrawals are also completely free! For those who are not satisfied, Roboforex also offers automatic instant payouts. In less than 60 seconds, the application is processed and released. You have 24/7 access to your capital at the broker.

Use credit cards, bank transfer, online transfer, cryptocurrencies and e-wallets (Neteller, Skrill, etc.) to capitalize the trading account. In addition, RoboForex has a wallet with which you can save money or carry out transactions. The transactions are very safe and pleasant. There are no hidden costs.

These payment methods are available:

  • Credit Cards (VISA, Master Card)
  • E-Wallets (Skrill, Neteller, ePayments)
  • Bitcoin, Ethereum
  • WebMoney
  • Special: You can open a full Bitcoin account

Our withdrawal proof:

Some traders claim that Forex Brokers do not pay out their earnings. In the following picture, we will show you my withdrawal proof with 2 different payment methods. There is no problem with withdrawal money at RoboForex.

RoboForex Bonus Program and special conditions

As one of the few brokers, Roboforex offers a very large bonus program, which we will explain to you in the following text. The chance of an extra income or a free gift from the broker is very high. This is true for small accounts as well as large accounts. But you should first remember, the higher your trading volume, the higher the bonus. Roboforex clearly wants to incentivize the client to trade more and invest more money.

Of course, the broker earns more money the higher your trade sum is. Part of the earned money he shares with you in the bonus programs. Take a look at the different bonuses:

Deposit Bonus:

Get extra capital when depositing. This can be up to 115% depending on the amount of the deposit. Example: With a 100% bonus on a deposit of 5000 $ you get 5000$€ additional capital. Your balance is then 10,000 $. This allows you to trade with higher risks and higher positions in the market.

The bonus is of course also subject to conditions. You can not pay the entire bonus before a trading volume has been reached. Example: With a bonus of 5000 $ you have to trade a total of 5000 lots so that you can pay out the bonus completely. Although this is a very high sum, in the long run, most traders manage it. The bonus can be deactivated at any time and you can even have your winnings paid off.

Facts of the bonus:

  • Up to 115% bonus of your deposit
  • You can deactivate the bonus any time
  • Withdrawal your earnings and profit
  • Bonus total = Number of required lots for the trading volume to be converted

Cashback for free:

Another great bonus is the Cashback program from RoboForex. The broker divides the revenue (over the spread) with you. You will be paid an additional fee, which depends on your trading volume. Get back up to 15% of your paid spread. The cashback is then payable at any time and applies to all types of accounts.

Get your Cashback:

  • 10 – 1000 lots = 5% Cashback
  • 1000 – 3000 lots = 10% Cashback
  • 3000 lots and more = 15% Cashback
  • Get more Cashback if you are a VIP Trader

Up to 10% additional money on your account:

Roboforex tries to protect its customers against inflation and can pay you up to 10% extra return per year. For this purpose, however, a certain volume of trade must be implemented in the account again. The additional money can be withdrawn from the account or used for further trading activities.

Get an additional yield every year (monthly credited):

  • 2,5% = trade 1 – 10 lots
  • 5% = trade 1 – 1000 lots
  • 10% = trade 1000 lots

Become a VIP Trader with RoboForex

Become a VIP and get additional bonuses from RoboForex. The VIP status depends on the amount paid into your account. After you have made a deposit you will receive an automatic email that you have joined the VIP program. The VIP customer can expect higher cashback and possibly higher returns on the account (see picture below). Also, a VIP manager will be provided for you. In addition, you can rent a VPS server cheap to get even better access to the markets.

Review of the customer support and service for traders

Support is available in more than 10 languages ​​for traders by phone, email, WhatsApp, chat and more. It works around the clock (24/7) for RoboForex customers, as some markets are also open 24/7 (eg cryptocurrencies). Use the different contact options if you have any questions.

International support is also offered because the Roboforex Group operates through different branches in the world. You can also reach multi-language-speaking employees by telephone, who have enjoyed a good education and help you directly (We tested by ourselves). In summary, the support is very good and fast for international customers. We have noticed no negative things.

There is also a training center for beginners. There you can watch exact videos on the operation of the trading platforms. If you have further questions, you can join the RoboForex Forum. Exchange directly with other traders and develop common strategies. The broker also provides daily analyzes and webinars. There is a comprehensive service for traders here.

Facts of the support:

  • 24/7 support
  • Phone, Email, Chat
  • International support
  • RoboForex accept international clients (India, Africa, Asia, Indonesia, Europe, and more)
  • Webinars and VIP Managers

Our conclusion of the Review: Is RoboForex the best Forex Broker?

RoboForex gets a very good rating from us on this page. We tested the provider extensively with real money and was surprised by the good conditions.

With a large selection of products and trading platforms, the provider is well-positioned for online trading and stands out from most competitors. The trading fees are very low and you get a quick and direct execution. Also, the bonus program is highly recommended and can generate you an additional income.

In summary, we can recommend the provider, since no fraud has been noticed. Regulations, licenses, and sponsorships make the broker a trusted partner.

The advantages:

  • A regulated and reliable company
  • International clients are accepted
  • High leverage is possible (1:2000)
  • A huge range of markets and assets (More than 9,000)
  • Free Demo Account
  • Start with a small amount of money
  • Bonus Programm
  • Low spreads and commission
  • Professional Support

With RoboForex you get a reliable partner for investing in any financial market. (5 / 5)

Отзывы о RoboForex

Прежде всего, я должен признать, что робофорекс имеет очень хорошее обслуживание клиентов. Почти всегда кто-то готов (в чате) ответить на ваши вопросы и принять ваши претензии. Но что касается торговли (скальпинга), то в некоторой степени это даже хуже, чем у многих других брокеров. Они рекламируют, что у них очень низкий спред и проскальзывание, но когда дело доходит до реальной торговли, вы просто видите катастрофу! Вообще говоря, они очень похожи на других брокеров, но более нечестны.

Уважаемый Urka. Ширина спреда зависит от текущих рыночных условий, повлиять на которые компания не имеет возможности. Каждый трейдер самостоятельно оценивает их и в соответствии с этим корректирует методы своей торговли. Если у вас имеются претензии к исполнению ордеров на ваших торговых счетах, обратитесь с ними через тикет в Отдел дилинга компании. С уважением, менеджер RoboForex

Хочу рассказать о своем опыте в робофорекс, а именно о платформе R Trader. Эта платформа считается платформой нового поколения. Очень все продуманно и удобно, под рукой для торговли есть акции как известных мировых компаний, так и тех о которых никогда не слышал. Акции проще поддаются анализу. Рекомендую попробовать.

Держу тут 2 счета – центовый, тестирую сов и стандард на котором торгую в ручном режиме. На Stock открыл демку, пока разбираюсь, но чувствую что перспективы там огромные.

Подписался на двух сигнальщиков из сервиса копи фикс. Пока торгуют в плюс. Вообще интересно, что будет через месяц. Если не забуду, то зайду отпишу результат.

У брокера Робофорекс торгую относительно не давно, около года может чуть больше. Посоветовал знакомый, не пожалела что зарегистрировалась. Условия на высоте, спреды низкие, исполнение шустрое, проскальзывания минимальные иногда бывают. С выводом профита проблем не возникало, правда много не выводила до 500 долларов одной транзакцией. Рекомендую брокера как новичкам так и опытным.

За два года торговли в робофорекс мнение сложилось вполне нормальное. Проблем не возникало. Если кто-то потерял 450 пунктов, то все мы знаем, что кто-то был в продажах и заработал на этом. Это форекс, кто-то теряет, а кто-то зарабатывает. Просто заработавшие молчат, а сливаторы кричат.

В 2020 году в октябре они посливали счета многих трейдеров при обвале фунта. Падение на паре GBP/USD было на 450 пунктов ниже, чем у большинства других брокеров. При этом на претензии трейдеров компания просто отмахнулась формулировкой «у нас такие поставщики». сч 179003 Рисуют шпильки. Будьте аккуратнее. А так в остальном у них всё хорошо.

Roboforex один из брокеров которому я доверяю свои средства. Хорошие торговые условия, отзывчивая поддержка. Быстрейший вывод, наверное один из самых быстрых, какой я вообще встречал у брокеров. Мне все нравится, потому с удовольствием рекомендую.

Надежная компания, одна из лучших во всех смыслах. Суммы вывожу не очень большие, но за одну платежку на киви до 15000 рублей без проблем скидывают в течении дня, поэтому рекомендую. А претензии все какие-то ненатуральные, на заказуху похожие, не первый раз наблюдаю.

Для меня робофорекс, это почти сплошной плюс. Видать как кому. Мне очень нравится и торговать и участвовать в их конкурсах. Выводят всегда без задержек, даже можно сказать, что моментально в основном. Я не знаю, кто и что ждет от форекс-брокера, но знаю, что в робо меня точно все устраивает.

Новости компании

ПлюсМинус рекомендует

Обзор компании, особенности работы и отзывы о RoboForex

Компания RoboForex создана шесть лет назад и зарегистрирована в Новой Зеландии. Основная цель брокера — предоставление прибыльных торговых условий на рынке Forex.

RoboForex является партнером многих лидирующих производителей программного обеспечения, работающих в сфере финансовой торговли.

С момента создания компания была ориентирована на увеличение разнообразия услуг и инструментов торговли. Сейчас RoboForex — это ECN- брокер, поддерживающий технологии NDD (Non-Dealing Desk) и STP (Straight Through Processing).

Клиенты компании имеют уникальную возможность самостоятельного выбора условий, по которым будут проводиться сделки в торговле.

На выбор предоставляются 6 типов торговых счетов с отсутствием минимальной суммы пополнения и максимально установленным размером кредитного плеча 1:500.

Комфортная торговля обеспечивается благодаря наличию хорошего выбора торговых платформ: MetaTrader4, MetaTrader5, cTrader и Currenex Viking Trader. А так же мобильные терминалы iPhoneTrader и Android Trader.

Лицензированный дилерский центр RoboForex отзывы собирает разноречивые, но в большом количестве. Компания постоянно совершенствует свою деятельность, увеличивая количество торговых инструментов, создавая новые продукты, запуская самые прогрессивные технологии, и тем самым привлекает еще больше новых клиентов.

Смотрите самые актуальные отзывы о RoboForex и узнайте, стоит ли открывать счет у данного брокера и выгодно ли быть клиентом RoboForex.

Forex.com Review 2020

Summary

Recommended for forex traders looking for low fees and great research tools

Forex.com is a global FX and CFD broker established in 2001. Forex.com is the brand name of GAIN Capital, which is listed on the New York Stock Exchange. The company is regulated by several financial authorities, including the top-tier Financial Conduct Authority (FCA) in the UK or the US Commodity Futures Trading Commission (CFTC).

Forex.com is considered safe because it has a long track record, is regulated by top-tier financial authorities, and its parent company is listed on a stock exchange.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Forex.com pros and cons

Forex.com provides everything you need for forex trading: low forex fees, many currency pairs, and lots of technical research tools.

At the same time, it lacks some popular asset classes, such as real stocks or bonds. Stock CFD fees are high, and the desktop trading platform is not user-friendly.

Pros Cons
• Low forex fees • Limited product portfolio
• Great variety of currency pairs • High stock CFD fees
• Diverse technical research tools • Non-user-friendly desktop platform
Forex.com main features and highlights
��️ Country of regulation UK, USA, Canada, Japan, Cayman Islands
�� Trading fees class Low
�� Inactivity fee charged Yes
�� Withdrawal fee amount $0
�� Minimum deposit $50
�� Time to open an account 1-3 days
�� Deposit with credit card Available
�� Depositing with electronic wallet Available
�� Number of base currencies supported 7
�� Demo account provided Yes
��️ Products offered Forex, CFD, Crypto

Gergely Korpos

Author of this review

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Forex.com review
Fees

Forex.com has low fees for forex trades and stock index CFDs. On the other hand, stock CFD fees are high and there is an inactivity fee.

Pros Cons
• Low forex fees • Inactivity fee
• No withdrawal fee • High stock CFD fees
• Low stock index CFD fees
Forex.com fees snapshot
Assets Fee level Fee terms
EURUSD Low The fees are built into spread, 1.3 pips is the average spread cost.
GBPUSD Low The fees are built into spread, 2.4 pips is the average spread cost.
S&P 500 CFD Low The fees are built into spread, 0.4 is the average spread cost.
Inactivity fee Low £/$/€ 15 per month after one year of inactivity

How we ranked fees

We ranked Forex.com’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates, and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of Forex.com for each asset class. For example, in the case of forex and stock index trading spreads, commissions and financing rates are the most important fees.

We compared Forex.com’s fees with those of two similar brokers we selected, Oanda and Interactive Brokers. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Forex.com alternatives.

To have a clear overview of Forex.com, let’s start with the trading fees.

Forex.com trading fees

Forex.com trading fees are low.

We know it’s hard to compare trading fees for forex brokers. So what we did was we compared brokers by calculating all the fees of a typical trade for selected products.

We picked popular instruments within each asset class usually offered by forex brokers:

  • Forex: EURUSD, GBPUSD, AUDUSD, EURCHF, and EURGBP
  • Stock index CFDs: SPX and EUSTX50

A typical trade involves buying a leveraged product, holding it for one week and then selling it. For volume, we chose a $20,000 position for forex and a $2,000 position for stock index and stock CFD transactions. The leverage we used was:

  • 30:1 for forex
  • 20:1 for stock index CFDs

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let’s see the verdict for Forex.com fees.

Forex fees

Forex.com forex fees are low, below those of its closest competitors.

Forex.com forex benchmark fees of a $20,000 30:1 long position held for one week

Forex.com Oanda Interactive Brokers
EURUSD benchmark fee $12.6 $15.9 $17.9
GBPUSD benchmark fee $10.5 $11.9 $13.6
AUDUSD benchmark fee $12.0 $8.3 $12.0
EURCHF benchmark fee $4.9 $7.1 $7.1
EURGBP benchmark fee $9.9 $10.7 $13.0

Forex fees are built into spreads.

CFD fees

Forex.com has low stock index CFD fees but high stock CFD fees.

Forex.com CFD fees for a $2,000 long position held for one week

Forex.com Oanda Interactive Brokers
S&P 500 CFD benchmark fee $1.9 $1.0 $3.6
Europe 50 CFD benchmark fee $1.6 $0.9 $2.9
Apple CFD benchmark fee $21.8 $3.5
Vodafone CFD benchmark fee $26.0 $8.2

Stock index CFD fees are built into spreads, while stock CFD fees are charged via commission.

Forex.com stock CFD fee

Market Commission Minimum fee
US stocks $0.018 per share $10
UK stocks 0.08% of the trade value £10

Non-trading fees

Forex.com’s non-trading fees are average overall. It doesn’t charge withdrawal or account fees, but a $15 monthly fee is levied after one year of inactivity.

Forex.com non-trading fees

Forex.com Oanda Interactive Brokers
Account fee No No No
Inactivity fee Yes Yes Yes
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0

Forex.com review
Account opening

Forex.com’s account opening is seamless and fully digital, with a low minimum deposit. On the other hand, account verification takes

2 business days, which is not the fastest on the market.

Pros Cons
• Fully digital • Relatively slow account verification
• Low minimum deposit
• User-friendly

Can you open an account?

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Forex.com accepts customers from most countries, including the US. Notable exceptions include Hong Kong and New Zealand.

What is the minimum deposit at Forex.com?

The required Forex.com minimum deposit is $50 . This is a low amount as there are other brokers that require a minimum of $2,000 or more.

Account types

Forex.com provides three account types, which differ in their pricing structure and in the trading platforms available.

Forex.com account types

Account types Pricing Trading platforms
Forex.com account Higher spread and no commission Forex.com’s own platforms
MetaTrader account Higher spread and no commission MT4
DMA account Lower spread and commission of $2 per lot per trade Forex.com’s own platforms

When it comes to account ownership, Forex.com has additional options:

  • Individual – owned by an individual
  • Joint – owned by two or more individuals
  • Corporate – owned by a legal entity

How to open your account

Forex.com has a straightforward and fully digital account opening process. Online registration takes only 10-15 minutes. Our account was verified in 2 business days, which is a bit slower than at some other brokers.

It takes four steps to open a Forex.com account:

  1. Choose whether you want to use Forex.com’s own trading platform or MetaTrader 4, a third-party trading platform.
  2. Fill in your personal and financial information.
  3. Answer a couple of questions relating to your financial knowledge and trading history.
  4. Verify your identity and residency. You can upload a national ID card, passport or driver’s license to verify your identity. Utility bills and bank statements are accepted as proof of residency.

We ran into some problems during account verification. Forex.com rejected the uploaded proof of residency but did not tell us the reason. We think they should give more information when something goes wrong.

Forex.com review
Deposit and withdrawal

Forex.com provides multiple options for deposit and withdrawal, all free of charge. However, withdrawal is not possible with some credit cards.

Pros Cons
• Credit/Debit card available • Problem with credit card withdrawal
• Free withdrawal
• No deposit fee

Account base currencies

At Forex.com, you can choose from 7 base currencies: EUR, GBP, USD, AUD, CAD, CHF, JPY .

Base currencies at Forex.com vs similar brokers

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Forex.com Oanda Interactive Brokers
Number of base currencies 7 9 19

Why does this matter? For two reasons. If you fund your account in the same currency as your bank account or you trade assets in the same currency as your account base currency, you don’t have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. Revolut or Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Deposit fees and options

Forex.com charges no deposit fees. Besides bank transfer, you can use credit/debit cards and PayPal for deposit.

Forex.com deposit options

Forex.com Oanda Interactive Brokers
Bank transfer Yes Yes Yes
Credit/Debit card Yes Yes No
Electronic wallets Yes Yes No

A bank transfer can take several business days, while payment with a credit/debit card is instant.You can only deposit money from accounts that are in your name.

Forex.com withdrawal fees and options

Withdrawal at Forex.com is free of charge. Methods for withdrawal are the same as for deposits.

Forex.com withdrawal fees and options

Forex.com Oanda Interactive Brokers
Bank Transfer Yes Yes Yes
Credit/Debit card Yes No No
Electronic wallets Yes No No
Withdrawal fee $0 $0 $0

How long does it take to withdraw money from Forex.com? Bank transfers can take 2-3 business days, while credit/debit card withdrawal can take longer, up to 5 business days.

When we tested withdrawal, it took several weeks because we had a problem with credit card withdrawal. The reason for the problem was that Forex.com can’t send money to some MasterCard and Visa credit cards. Instead of credit cards, we had to withdraw via bank transfer, but before doing so, customer service had to add and approve our bank account. It would be great to know in advance which cards are accepted for withdrawal and which are not.

How do you withdraw money from Forex.com?

  • Log in to ‘MyAccount’
  • Click on ‘Funding’ and then select ‘Withdraw’
  • Fill in the required amount
  • Confirm your withdrawal

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Forex.com review
Web trading platform

Forex.com’s web trading platform is user-friendly and extremely customizable, with lots of order types. On the negative side, there is no two-step login and we found some bugs.

Pros Cons
• User-friendly • No two-step (safer) login
• Good customizability (for charts, workspace)
• Good variety of order types
Forex.com platforms to choose from
Trading platform Score Available
Web 4.3 / 5 stars Yes
Mobile 4.3 / 5 stars Yes
Desktop 3.0 / 5 stars Yes

Forex.com has two web trading platforms, Web Trader and MetaTrader 4. We tested Web Trader because it is Forex.com’s own platform, while MetaTrader 4 is provided by a third party.

Web Trader is available only in English.

Look and feel

Forex.com’s web trading platform is user-friendly and looks great.

It is extremely customizable. You can easily add, remove, or change the size and position of tabs to create your own unique trading platform. It also lets you pick between a light or dark theme and between “one-click” or “two-click” trading.

Login and security

Forex.com provides one-step login. Two-step authentication would be safer here.

Search functions

The web trading platform has good search functions. You can search by typing the name of the product you’re looking for or browsing a categorized product list.

Placing orders

You can use many order types, including some more sophisticated ones:

  • Market
  • Limit
  • Stop-loss
  • Trailing stop
  • One-cancels-the-other (OCO)

If you are not familiar with basic order types, read this overview.

There are also several order terms available:

  • Good till canceled (GTC)
  • Good till end of the day (GTD)
  • Good till time (GTT)

Alerts and notifications

The alert function lets you know when an asset reaches a price target. You also get a notification when your orders get fulfilled. This is a push notification, available on both web and mobile platforms. You can easily set alerts and notifications.

Portfolio and fee reports

Forex.com has clear portfolio and fee reports. You can find these under the ‘Reports’ tab and download them in PDF, XLS, XML and CSV.

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Forex.com review
Mobile trading platform

Forex.com’s mobile trading platform looks nice and is easy to use. The search function is also great. However, there is no two-step login.

Pros Cons
• User-friendly • No two-step (safer) login
• Good search function
• Good variety of order types

Similarly to the web trading platform, Forex.com provides two mobile trading platforms: Forex.com’s own, and MetaTrader 4’s mobile trading platform. Both trading platforms are available on iOS and Android. In this review, we tested Forex.com’s own trading platform on Android.

Look and feel

The Forex.com mobile trading platform is user-friendly and well designed. However, features were sometimes quite slow to load.

Login and security

Forex.com provides only one-step login.

You can’t log in using biometric authentication. Offering this feature would make the login process more convenient.

Search functions

Search functions are good. You can search by typing the name of the asset you’re looking for or browse product categories.

Placing orders

You can use the following order types:

However, we didn’t find an option to set order time limits.

Alerts and notifications

You can easily set price alerts on the Forex.com mobile platform.

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69% of retail CFD accounts lose money

Forex.com review
Desktop trading platform

Forex.com’s desktop platform has the same functions as the web trading platform but lags behind in user-friendliness.

Pros Cons
• Clear fee report • Not user-friendly
• Good customizability (for charts, workspace) • No two-step (safer) login
• Good variety of order types • Poor design

Forex.com offers two desktop platforms, the Advanced Trading Platform and MetaTrader 4. Once again, we tested the Advanced Trading Platform as this is Forex.com’s own platform, while MetaTrader 4 is a third-party platform.

Forex.com’s desktop trading platform has the same functionality as the web trading platform. For example, you can use the same order types or price alerts.

On the downside, the desktop trading platform is less user-friendly and the design feels outdated. It was hard to navigate the platform and it felt too crammed with functions.

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69% of retail CFD accounts lose money

Forex.com review
Markets and products

At Forex.com, you can only trade with forex, CFDs and cryptos. Other asset classes, like real stocks or funds, are not available.

Forex.com is a forex broker, also offering some CFDs. To learn more about CFDs read our CFD trading tips.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Forex.com provides a great number of currency pairs and cryptocurrencies. The stock index, ETF and commodity CFD selections are also great. The stock CFD lineup is relatively thin, though.

Forex.com product selection

Forex.com Oanda Interactive Brokers
Currency pairs (#) 84 71 105
Stock index CFDs (#) 17 16 13
Stock CFDs (#) 270 7,100
ETF CFDs (#) 26
Commodity CFDs (#) 26 31
Cryptos (#) 8 2

You can change the default leverage level of the products, which is great.

Changing the leverage manually is a very useful feature when you want to lower the risk of your trade. For example, instead of trading with 5:1 leverage, you can set it to 2:1 in the case of stock CFDs. Be careful with forex and CFD trading, since the preset leverage levels are high, putting you at a high risk of losing your money.

Forex.com review
Research

Forex.com has great and diverse research functions. It provides good charting tools, trading tips based on technical analysis, and high-quality market reports. On the other hand, it lacks fundamental data.

Pros Cons
• Good interactive chart • No fundamental data available
• Trading ideas
• High-quality market reports

You can find Forex.com’s research tools on its trading platforms or on the website under ‘Market Analysis’.

We ran into some bugs on the trading platform during our test. For example, when we opened Autochartist, it didn’t work.

Trading ideas

Forex.com also provides trading ideas based on technical analysis. You can find them on the platform if you click ‘Trading Central’.

Fundamental data

Forex.com doesn’t provide fundamental data.

Charting

Forex.com has great charting tools. You can easily edit and save your charts. There are

80 technical indicators and many editing tools, such as Fibonacci retracement or trendlines.

News feed

Forex.com doesn’t have news feeds.

On the other hand, there is an economic calendar, which lists upcoming macro events. When you select an event, you can view a short summary and check historical data.

You can also read market analysis written by Forex.com’s research team. You can find these articles under the ‘Market Analysis’ tab. We liked how news articles can be filtered based on various criteria.

Forex.com review
Customer service

Forex.com has great customer service on the phone. Finding live chat is a bit tricky, but responses are relevant and fast. On the negative side, email support is slow and answers aren’t always satisfactory.

Pros Cons
• Live chat • No 24/7 support
• Great telephone support • Poor email support
• 24-hour support Sunday to Friday

You can contact Forex.com via:

We were really satisfied with Forex.com’s phone support. They answered the phone instantly, and we got relevant answers.

If you prefer using live chat, click ‘Chat’. It opens a chatbot, which can answer some basic questions, like “How can I deposit?”. It’s a bit more tricky if you want to talk to a real person. You have to type ‘agent’, after which the chatbot offers to connect you with a sales or support agent.

Email response time is slow; during our test, it took 4 business days to receive a reply. The answers were not fully helpful as we merely got links to FAQ pages.

Forex.com’s customer service is not fully 24/7, though it is available 24 hours a day from Sunday to Friday.

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Forex.com review
Education

Forex.com does a great job in education, offering many ways to learn.

Pros Cons
• Demo account • No webinars
• Trading platform tutorial
• Educational videos

At Forex.com you can learn in the following ways:

  • Demo account
  • Platform tutorial videos
  • General educational videos
  • Quality educational articles
  • Trading glossary
  • Trading knowledge quiz

We liked the quality and structuring of the videos. You can choose from different topics, like fundamental analysis or risk management.

The quiz and trading glossary are unique educational tools. We found them really fun and useful.

The only thing we missed was webinars, as they are the best platform for asking trading professionals directly.

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69% of retail CFD accounts lose money

Forex.com review
Safety

Forex.com is regulated by many financial authorities, including the top-tier FCA. Its parent company, GAIN Capital is listed on the New York Stock Exchange.

Pros Cons
• Majority of clients belong to a top-tier financial authority None
• High level of investor protection
• Parent company listed on stock exchange

Is Forex.com regulated?

Yes, it is regulated by several financial authorities globally, such as the UK Financial Conduct Authority (FCA), or the US Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA).

Is Forex.com safe?

To be certain, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

Forex.com operates several subsidiaries worldwide; which of these will serve you depends on your residency. The investor protection amount you’re eligible for depends on the country where the subsidiary serving you is located.

For example, if you are from the UK, you will sign up with GAIN Capital UK Ltd and will be eligible for investor protection of £85,000. GAIN Capital UK Ltd is regulated by the FCA, the UK regulator.

Not all investments are protected by SIPC. In general, SIPC covers notes, stocks, bonds, mutual funds and other investment company shares, and other registered securities. It does not cover instruments such as unregistered investment contracts, unregistered limited partnerships, fixed annuity contracts, currency, and interests in gold, silver, or other commodity futures contracts or commodity options.

Forex.com investor protection

Futures Commission Merchant (FCM)

Retail Foreign Exchange Dealer (RFED)

Commodity Futures Trading Commission (CFTC)

National Futures Association (NFA)

Country of clients Protection amount Regulator Legal entity
EEA £85,000 Financial Conduct Authority (FCA) GAIN Capital UK Ltd.
USA No protection GAIN Capital Group LLC
Canada $1,000,000 Investment Industry Regulatory Organization of Canada (IIROC) GAIN Capital – FOREX.com Canada Limited
Japan No protection Japanese Financial Services Authority (FSA) Gain Capital Japan Co.
All other clients No protection Cayman Islands Monetary Authority (CIMA) GAIN Global Markets Inc.

Forex.com provides negative balance protection for clients belonging to GAIN Capital UK Ltd. for forex spot and CFD trading, but only for retail clients from the European Union. Professional and non-EU clients are not covered with any negative balance protection.

Background

Forex.com is a brand of GAIN Capital, a US-based investment company. This is important as a strong parent company lowers the chance that the company will go bust.

GAIN Capital is also listed on the New York Stock Exchange. It is a big plus for safety as Forex.com releases financial statements regularly and in a transparent manner.

Forex.com was established in 2001. The longer the track record of a broker, the more proof we have that it has successfully weathered previous financial crises.

Having a parent company listed on a stock exchange, providing financial statements, and being regulated by top-tier authorities are all great markers of Forex.com’s safety.

Forex.com review
Bottom line

Forex.com is a great forex broker regulated by several financial authorities, such as the UK FCA or the US CFTC.

On the positive side, it has low forex fees, many tradable currency pairs, and high-quality research tools.

It has some drawbacks though. Popular assets, like real stocks or bonds, are not provided. Stock CFD fees are quite high, and the desktop platform is not easy to use.

Since no withdrawal fee or inactivity fee kicks in until after one year, feel free to try Forex.com today.

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69% of retail CFD accounts lose money

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