If you’ve been seriously looking for a forex broker, then you must have come across forex.com. It is arguably one of the most notable names whenever there are discussions about forex trading. Its domain name also ensure it pops up as one of the top options when anyone searches anything to do with forex trading online. It therefore follows that it is one of the most popular forex brokers available in the industry.
Forex.com is one of the forex brokers that brought along individual forex trading. It is certainly the best forex broker in many ways. Forex.com forex broker started its operations in 2001. It has been on the scene for over two decades now, and it has been offering incredible brokerage services.
Forex.com is not all about the name though. It popularity has stems from its dedication to offering top of the range services to individual traders. Forex.com is one of the forex brokers with a lot of individual traders on its platforms. There are many different reasons that make forex.com the ideal forex broker for all these traders. The question is, is it the ideal forex broker for you? What is the minimum amount to invest in forex? What is forex.com minimum deposit? This forex.com copy trading review will reveal a lot of what you need to know about forex.com.
Follow along and find out. Our discussions below are boarded on how good of a forex broker forex.com is. We’ll explore the various aspects that make forex.com such an impressive forex broker. There are a lot of things you need to take into account, while seeking an appropriate forex broker to work with. Here are the most pertinent ones.
- Trading accounts and platforms
- Customer support and service
- Regulation and Reputation
- Money Transfer Methods
Let’s discuss what forex.com offers under each one of these fronts.
Forex.com Trading Accounts and Platforms
Forex.com trading platforms are without a doubt some of the best of the industry. As mentioned above, forex.com has been on the scene for over two decades now. Apart from having a lot of experience in the industry, forex.com perfectly understands the trading needs of different kinds of individual traders. First, here are the four types of trading accounts you will find on forex.com.
- Individual account
- Joint account
- Corporate account
- Sharia account
Before we talk about what each one of the trading accounts above is all about, you should know that forex.com further categorizes its trading accounts according to spreads. The accounts listed above can either be standard or commission accounts. Standard accounts have fixed spreads, while the spreads in VIP accounts can vary.
The trading accounts listed above are not very different from each other. It’s basically the same trading account but with a different ownership structure. For instance, the joint account is owned by a group of traders, as opposed to the individual account being owned by only one trader. The corporate account is owned by a legal entity. Then there is the Sharia account. It is an Islamic faith based account. The account is specially designed for Muslim traders to ensure they can trade forex without compromising their faith. All the trading accounts require the same minimum deposit of $50. The forex.com account minimum deposit is low enough to ensure more people have the chance to trade forex. Forex.com is arguably the best forex broker for beginner 2019. It is also the best forex broker with low minimum deposit 2019.
The forex.com leverage is also quite impressive; it will give you a pretty good chance of making a profit. There is a forex.com demo account as well. It should help you get started with forex trading in a seamless manner. It is the best forex broker with demo account 2019. For those wondering whether forex.com scam or legit, the support it offers should be proof enough that forex.com legit.
Forex.com operates proprietary trading platforms for the web, desktops, and mobile devices. There is Android and iOS trading Apps that make it convenient for traders to trade while they are on the move. All forex.com trading platforms are very user-intuitive. They’ll allows you to trade seamlessly and without any hitches.
Trading Support and Customer Service
When it comes to trading support and customer service, no broker can rival forex.com. Forex.com has always been setting the standards by which forex brokers operate in the industry. Let’s talk matters trading support. Forex.com offers a lot of support to every other individual trader on its platforms. As we’ve already established, all trading accounts of forex.com are of the same caliber. That means that every trading account holder gets the same kind of trading support.
Forex.com offers trading support in the form of market reports and trading tips. Market reports can help you as a trader anticipate where the market is going to move next. Forex.com also offers a demo account, which can count as a form of trading support. The demo account is a trading account with virtual funds that is offered to every new trader on froex.com to allow them to familiarize themselves with the trading platforms and forex trading in general before they start trading with real money.
Forex.com has a stellar customer service department. In case you run into any glitches while trading, which is quite rare, you can get in touch with the forex.com customer service agents through email, a phone call, or live chat. The agents are usually quite responsive and attentive to any issues that you might have. The service is also available the round the clock. It is available even when the forex markets are not running.
Regulation and Reputation
It should be clear by now that forex.com has a pretty impressive reputation online among forex traders. That’s based on the impressive brokerage services it has been providing to them for decades. Apart from proving itself to be a worthy forex broker time and time again, Forex.com is a reputable broker due to its regulation by the CFTC.
Forex.com is one of the few forex brokers from the USA. USA authorities are usually quite restrictive when it comes to the operations of forex brokers. Most forex brokers from outside the US are unable to operate in the US. Every broker operating in the US has to be under the oversight of the CFTC (Commodities Futures Trading Commission). CFTC has its major focus on ensuring individual traders are well protected.
This regulation helps to further strengthen the trust people have in forex.com, although forex.com has always ensured that its services and operations are legit. Forex.com has millions of trading accounts, and traders do not just sing up on a broker’s platform and stay because of formalities. They stay because they are getting proper support and better chance of profiting from their trading efforts.
Money Transfer Methods
We cannot finish the discussion without talking of how you will be able to fund your forex.com trading account, and receive your money when you make a withdrawal request. Money transfer methods are important because they can be the determinant of whether you can trade on forex.com or not. Obviously, you will not be able to trade with forex.com if you have no way of transacting with them. Forex.com is available in many countries in the world, but it is not available ins some countries specifically because there are not ways for traders in those countries to transfer money into forex.com trading platforms.
Just like with any other online platform, forex.com has three major money transfer methods on its trading platforms. They are;
- Credit/Debit cards
- Wire Transfers
You can use any of these methods depending on what is available or convenient for you. Let’s explore each one of them in brief below.
Credit/Debit cards are not a new method of transacting online, but they continue being one of the most convenient methods. Funding your forex.com trading account using cards is quite swift since the transactions are completed instantly. Cards are also quite economical, since where charges are involved, they are usually negligible.
You can fund your forex.com trading account using any major card. There are many different card-service providers around the world, but not all are accepted. Among the most notable ones that you can use on forex.com are Maestro, Visa, and MasterCard.
When it comes to withdrawals, you are going to receive your money just as swiftly as you were able to send it. The money will land in your card immediately it is sent by forex.com. Keep in mind that forex.com might take up to 24 hours to process your withdrawal request though. Your funds are sent once the request is processed.
The convenience offered by E-wallets needs no introduction. E-wallets are the modern-era method of sending payments. E-wallet transfers are cheap and swift. Funding your forex.com using and E-wallet service is quite swift. The funds will be available in your trading account a short while after you’ve hit the send button.
Here are some of the notable E-wallets available on forex.com.
- Perfect Money, etc.
Wire transfers are still used for online transactions, because they might be the only way available for some traders. Also, wire transfers will never suffer breakdowns and downtimes. The only downside of using wire transfer is that they are not very convenient.
The transfer is usually expensive as compared to the other methods. Wire transfers are not swift either. You will have to wait for up to seven working days before your funds are available in your trading account, or in your bank account after you have made a withdrawal request. Where there is no other method to transact with forex.com, traders have to make do with wire transfers. They take solace in the fact that wire transfers are the only money transfer methods that have never been susceptible to fraud issues. That does not imply the other methods are unsafe though.