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Don't get Forex.com wrong

Don't get Forex.com wrong...They put up a nice front as far as service, but their account exec's don't know jack about your account and leverage. Or MAYBE they're just ripping you off...

Trader Martin 2009-08-06

In our humble opinion, Forex.com's biggest advantage is the outstanding and lightning-fast execution. With an average execution speed of 0.07 seconds, in 100% of the limit orders placed with the broker get executed at the requested price, and 68.1% of them receive an average positive price improvement of 1.06 pips*. 

 
And it seems that we are not the only ones who find this as a point of attraction: Forex.com services traders in more than 140 countries, who make over 39 million transactions per year, and are responsible for 150,000+ trades processed every day. 
 
Traders can choose between three platforms: the industry's most popular MetaTrader 4 (MT4) and the Forex.com's proprietary ForexTrader PRO and GTX-Forex ECN. CFD fans can go ahead and opt in for the designated TRADE platform – an innovative piece of software that make contracts for differences trading a piece of cake.
 
Forex.com offers tight spreads, with the typical one on EUR/USD being 1.6 pips. 
 
The broker is suitable for clients of all skill levels – from newbies to professional traders. Rookies can start with a deposit as low as $250 and learn their way in forex with a demo account that does not expire, and the educational resources offered by Forex.com – video tutorials, live trading sessions, professional analyses and forecasts, etc. (the educational section also features resources for more advanced traders). 
 
Another thing we really like about Forex.com is its transparency and reliability. In the US, the broker is registered with the Commodity Futures Trading Commission (CFTC), the National Futures Association (NFA), and the Securities and Exchange Commission (SEC). It is also regulated by the Financial Conduct Authority (FCA) in the UK,  Financial Services Agency (FSA) in Japan, by the Securities and Futures Commission (SFC) in Hong Kong, by the Australian Securities and Investments Commission (ASIC) in Australia, and by the Investment Industry Regulatory Organization of Canada (IIROC). 
 
*FOREX.com Execution Quality Indicator January 2014
 
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia, Cyprus ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
Australia ASIC MT4, MT5 $100 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

Latest Forex News

Binary options broker SmartOptionFX ends up on CySEC’s warning list

Jun 26 2019 13:30:16, Jonathan Smith in Market

  The Cyprus Securities and Exchange Commission (‘CySEC’) officially warned investors previous week that SmartOptionFX (operating via smartoptionfx.com website) is not licensed to provide investment services in the country.   “CySEC wishes to draw your attention that, on 25.6.2018, it has decided to wholly withdraw the Cyprus Investment Firm authorisation with number CIF 216/13 of the company B.O. Tradefinancials Ltd.,” stated the Cypriot financial watchdog in its notice.   The entity allegedly offers trading in binary options and claims to be operating under B.O. Tradefinancials Ltd.’s license, which was withdrawn a year ago. Read more

France’s AMF updates crypto scam list with JBCapitals, XCoinBroker and several other unregulated brokers

Jun 25 2019 13:21:17, Jonathan Smith in Market

  The Autorité des marchés financiers (AMF) updated its alert list of scam crypto brokers with JBCapitals, XCoinBroker and several other unregulated entities. The AMF stated that the websites of these brokers provide unauthorized online investment services in crypto assets in France.   Currently, the French regulator’s “blacklist” of websites that offer investments in cryptocurrency derivatives includes more than 100 unregulated entities. Here all five additions added to it earlier this week:   - www.jbcapitals.com  - www.xcoinbroker.com - www.bforfinance.com - www.coin-financial.com  - www.gwt-capital. Read more

Italy follows suit: bans binary options and restricts CFD trading permanently

Jun 24 2019 15:08:16, Jonathan Smith in Market

  Italy is the next European country to make ESMA’s product intervention measures permanent. The Italian financial regulator the Commissione Nazionale per le Società e la Borsa (CONSOB) announced on Friday it bans binary options and restricts CFD trading for retail investors permanently.   According to CONDOB’s announcement, the intervention measures will come into force on the day following their publication in the Official Journal and will apply from 2 July 2019 for binary options, and from 1 August 2019 in relation to CFDs. Read more

QuadrigaCX founder used clients’ funds for private ends

Jun 21 2019 13:03:59, Jonathan Smith in Market

  The founder and CEO of now defunct QuadrigaCX Gerald Cotton used clients’ funds for private ends, reported the firm’s bankruptcy trustee Ernst & Young Inc. More specifically, Cotton, who died in mysterious circumstances last year, used customers’ funds to trade for his own account on other cryptocurrency exchanges.   QuadrigaCX, which was Canada's biggest cryptocurrency exchange, ceased operations this year. The company filed for protection from creditors in January, and was declared bankrupt in mid-April, owing customers $190 million worth of cryptocurrency and fiat. Read more

The FCA may push ISPs to take down misleading or unfair financial promotions

Jun 20 2019 15:09:20, Jonathan Smith in Market

The Financial Conduct Authority in the UK (FCA) is considering additional powers in respect of internet service providers (ISPs). In its first annual perimeter report, the FCA says it might push ISPs to take down misleading or unfair financial promotions, in order to improve consumer protection. The regulator also stated it might ban certain cryptoassets falling outside its regulatory perimeter.   It’s no secret that fraudsters offering investments in forex, contracts for difference (CFDs), and binary options often promote themselves online and via social media channels, such as Facebook. Read more

Spain’s CNMV blacklists unregulated brokers Financika and Hybrid Reserve

Jun 19 2019 13:00:47, Jonathan Smith in Market

  The latest editions to the warning list of Spain’s financial regulator, the CNMV, are unregulated brokers Financika and Hybrid Reserve. These entities are not authorized to provide investment services or investment advice in Spain, the CNMV said.    Actually, both brokers are registered offshore, and are therefore not allowed to operate on any regulated financial market, not only in Spain. Hybrid Reserve is owned and operated by Singlebell LTD, which is registered in the Marshal Islands. Its website (hybridreserve.com) also features the name of an Estonian company, SINGLEBELL OU, but it is not licensed by the Estonian Financial Supervision Authority (EFSA). Read more

Italian regulator orders unregulated brokers CryptoCapitalFX, OnlyTrades, and Nasdaq 500 to cease operations

Jun 17 2019 12:02:43, Jonathan Smith in Market

  Italian regulator Commissione Nazionale per le Societa e la Borsa (CONSOB) warned that CryptoCapitalFX, OnlyTrades, and Nasdaq 500 are not licensed to provide financial services in the country, and ordered them to cease operating in Italy.    Forexbroker.com has spotted and warned against all three brokers flagged by CONSOB, highlighting a number of red flags regarding each one of them. The first broker the Italian regulator blacklisted this Monday, CryptoCapitalFX (it.cryptocapitalfx.com) also has another website - cryptocapitalfx.com, where it claims to be owned and operated by Eternity Capital Management Ltd. Read more

UK’s FCA warns of AGM Group and Sigma4Trade clone firms

Jun 13 2019 14:18:24, Jonathan Smith in Market

  The UK’s Financial Conduct Authority (FCA) has recently updated its warning list with AGM Group and Sigma4Trade – two forex brokers that falsely claim to operate under legit companies, licensed by the regulator. This is a popular scam tactic often referred to as “a clone firm”.    “… Fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called,” the FCA reiterates in its notices. Furthermore, it states that such clone firms are suspected of knowingly participating in investment scams. Read more

Ireland to ban binary options and restrict CFD trades permanently

Jun 12 2019 15:40:33, Jonathan Smith in Market

  The Central Bank of Ireland (CBI), which also serves as a financial services regulator, announced its plans to make ESMA’s product intervention measures permanent. These measures are aimed at guaranteeing greater investor protection for retail investors, and include a ban on binary options and a set of restrictions for CFD trades, the most important of which is a cap on leverage of up to 1:30. Read more

Spanish regulator adds Olympus Markets and several other offshore brokers to its warning list

Jun 10 2019 13:21:05, Jonathan Smith in Market

  The Comision Nacional del Mercado de Valores (CNMV) has updated its warning list with the already Olympus Markets, as well as several other offshore brokers - TopTradepro, UBCFX and Profit Trade. According to the CNMV, these entities are not authorized to provide investment services in the country.   As a matter of fact, all above-mentioned brokerages are registered offshore and therefore not allowed to operate on any regulated financial market. Here are the details on each of the companies blacklisted by the CNMV.   The companies operating Profit Trade and TopTradePro are both registered in the Marshall Islands. Read more

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