Forex.com Review
A Review of Gain Capital LLC (Forex.com)
Introduction
FOREX.com is a forex broker that operates both market maker and ECN trading models. Forex.com is the brand name of Gain Capital LLC, and the company provides online trading in currencies and commodities to traders of all experience levels. Founded in the year 1999, with headquarters in the United States, it is regulated by the NFA and the CFTC, in the U.K. by the FSA, in Japan by FSA, in Australia by ASIC, and in Canada by the IIROC.
Asset Index
The asset index traded on FOREX.com is given as follows:
|
CURRENCY PAIRS |
TYPICAL SPREADS |
|
AUD/CAD |
2.4 |
|
AUD/CHF |
3.4 |
|
AUD/JPY |
2.0 |
|
AUD/NZD |
3.9 |
|
AUD/USD |
1.5 |
|
CAD/CHF |
3.7 |
|
CAD/JPY |
2.4 |
|
CHF/JPY |
2.5 |
|
EUR/AUD |
2.7 |
|
EUR/CAD |
2.8 |
|
EUR/CHF |
2.4 |
|
EUR/CZK |
105.0 |
|
EUR/DKK |
4.2 |
|
EUR/GBP |
1.2 |
|
EUR/HUF |
15.0 |
|
EUR/JPY |
2.2 |
|
EUR/NOK |
30.0 |
|
EUR/NZD |
6.8 |
|
EUR/PLN |
14.5 |
|
EUR/SEK |
30.0 |
|
EUR/TRY |
4.0 |
|
EUR/USD |
1.7 |
|
GBP/AUD |
3.5 |
|
GBP/CAD |
4.2 |
|
GBP/CHF |
3.4 |
|
GBP/JPY |
3.6 |
|
GBP/NZD |
4.5 |
|
GBP/USD |
1.9 |
|
NZD/CAD |
7.0 |
|
NZD/CHF |
5.4 |
|
NZD/JPY |
3.1 |
|
NZD/USD |
1.8 |
|
SGD/JPY |
4.9 |
|
USD/CAD |
1.9 |
|
USD/CHF |
1.5 |
|
USD/CNH |
10.0 |
|
USD/CZK |
80.0 |
|
USD/DKK |
5.2 |
|
USD/HKD |
2.5 |
|
USD/HUF |
13.9 |
|
USD/JPY |
1.3 |
|
USD/MXN |
50.0 |
|
USD/NOK |
30.0 |
|
USD/PLN |
12.0 |
|
USD/RUB |
190 |
|
USD/SEK |
35.0 |
|
USD/SGD |
4.8 |
|
USD/TRY |
5.1 |
|
USD/ZAR |
55.0 |
|
XAG/USD |
3.2 |
|
XAU/USD |
35.0 |
|
ZAR/JPY |
2.5 |
Trading Platforms
The trading platform offered by FOREX.com for the trading of currencies and other derivative instruments are:
a) FOREXTrader PRO – This is a platform that can be customized for use on the web, on computer systems, and mobile systems. This platform gives the user tools for advanced charting, automated strategies and trade alerts. The FOREXTraderPRO offers tight variable spreads, and gives the user the opportunity to trade gold, silver, and forex on a global scale. Users of internet-enabled mobile devices can download the apps that are customized for the particular device whether it is a Blackberry, Android, iPhone, iPad. Mac or Windows PC users can also access their FOREXTrader accounts through their respective browsers.
b) MetaTrader 4 – Users of the MT4 platform, have the option of enjoying the benefits of integrated trading features and tools like advanced order management tools, integrated news and streaming commentaries, micro lot trading, real time updates, Expert Advisor hosting services, and easy access to integrated research and streaming news. iPhone, iPad, Android and Windows Smartphone users can also access their account information through the MT4 apps for mobile devices.
c) GTX – Forex ECN: This platform is an independent forex Electronic Communications Network that is best suited for professional forex traders and institutions. It offers a unique client-to-client trading experience, with advanced functionality, strong automated trading capabilities, with a very professional execution desk.
Deposits and Withdrawals
The following methods are available to traders to make Deposits on FOREX.com:
a) Wire Transfer
b) Credit/Debit Card
c) eCheck (U.S. bank account only)
d) Personal or Business Check.
Withdrawals can be made via Wire Transfer and Check.
Minimum Deposit
The minimum initial deposit required 500 USD but a recommended starting balance of 3,000 USD is needed to trade the full range of products on offer.
Maximum Deposit
There is no maximum deposit limit.
Minimum Withdrawal Limit
There is no minimum withdrawal amount.
Maximum Withdrawal Limit
There is no maximum withdrawal limit.
Customer Support
The customer support desk on Forex.com can be reached through the following means:
a) Email Support: sales@forex.com (for questions about new account opening);
info@forex.com (for trading related or account questions)
support@forex.com (for technical questions and troubleshooting)
b) Phone: 1.877.FOREXGO (367.3946) – Toll Free, 1.908.731.0750 – Int’l.
