FOREX.com Review
Score: 9.4 ⭐️
6/4/20232 min read
FOREX.com offersr forex and CFDs tradering across the globe. It offers a wide range of markets and provides an impressive type of proprietary platforms – alongside limited access to MetaTrader.
Though it’s not a discount broker unless you trade larger volumes, FOREX.com’s multi-assets will appeal to forex traders of all experience levels.
FOREX.com pros & cons
Pros
FOREX.com's parent company StoneX is publicly traded (NASDAQ: SNEX) and regulatedin different major regulatory bodies
FOREX.com was Best in Class for Platforms & Tools.
Their eb trader platform is a good one..
Web Trader features TradingView's advanced charting, which is fully integrated and conveniently accessible through the same username.
With FOREX.com has performance analytics are now available to live account holders for free.
Cons
MetaTrader 5 last we checked is only available outside of the U.S.
The educational offering for U.S. traders is not as robust as what’s available on FOREX.com’s new U.K. website.
Only about 600 assets are available on FOREX.com's MT5 platform, compared to over 4,500 on its non-MetaTrader platforms.
FOREX.com they do not produce video content as actively as others in the research and education category, despite offering quality written content across both.
Commissions and fees
FOREX.com is slightly expensive when compared to the industry average.
Standard account: FOREX.com’s average spreads are high at 1.1 pips (1.3 in the U.S.) on the EUR/USD, based on typical spread data provided to us by FOREX.com. The Standard account will appeal to traders who are willing to pay a premium (in the form of a higher spread) for the benefits of market-maker execution.
DMA account offer agency execution and the highest potential discounts at FOREX.com.
Typical spreads for this account for the EUR/USD pair 1.5 pips.
The effective all-in cost unless you trade more than $100 million per month, which brings the effective spread down to 1.1 pips. Meanwhile, traders that turn over more than $2 billion per month would realize effective spreads of 0.7 pips.
