Forex.com is a popular name in the Forex market and has become a mainstream broker ever since its start in 1999. The company is the brokerage arm of Gain Capital Holding, Inc., which is listed on the NYSE and has a significant market value. The broker is known to trade with millions of U.S. dollars through their brokerage network on a daily basis.
Nevertheless, Forex.com has been the subject of various controversies, mainly as a result of managing a huge customer base. Nonetheless, Forex.com has emerged as a successful and one of the top Forex brokers.
The company is a market maker and offers its services as an STP broker via an automated dealing desk. While this is in direct conflict with a trader’s interest, the company has been working in offering a fair brokerage service. In this review, we examine some of the major characteristics of Forex.com in order to draw a picture of the overall trading experience. Forex.com’s minimum account deposit is $100.
At Forex.com, traders can choose between two platforms – the standard MT4 and the FOREXTrader Pro version – when they sign up. FOREXTrader Pro version is a proprietary trading platform developed by Forex.com and offers a few additional advantages over the MT4. Mobile traders registered with Forex.com can use the mobile versions of the FOREXTrader Pro or the MT4. The FOREXTrader Pro mobile application is significantly more advanced than the mobile app of MT4, but traders who are used to the Meta Trader will find it to be less intrusive than Forex.com’s custom designed product.
Forex.com – Pros (+) and Cons (-)
The broker is regulated and trustworthy;
The MT4 platform is well known to the experienced traders;
The proprietary FOREXTrader Pro platform is reliable and has various functionalities;
– Both platforms provided are appropriate for experienced traders, but slightly more challenging for beginners. We would suggest to novice Forex traders to consider a platform with a more intuitive and non-complex user interface;
– Forex.com is essentially a market maker and there is a possible conflict of interest between the company and its clients.