FOREX.com

Added on April 12, 2013 07:44 AM
(4 / 5)
Spread: 0.8 Min. lot: 0.1 Execution: Market Maker
Leverage: 1:200 Country: United States Regulated by: NFA,CFTF,FSA
Min. deposit: 250 Platforms: MetaTrader, FOREXTrader Pro Payment methods: Bank Wire, Credit card, Check
Headquarters: Bedminster One, 135 US Highway 202/206, Suite 11, Bedminster, NJ 07921.

 

Forex traders looking out for a reliable and reputable broker with the ability of trading more than 50 pairs of currency can finally breathe easy – FOREX.com has come a long way to provide exactly what you have been looking for. Operated by the Gain Capital, FOREX.com is a financial service company that has existed since 1999. Taking a closer look at the business profile, anybody can understand that this particular online trading platform was developed by the most proficient financiers and industry veterans.

 

Trading Accounts and Platform

FOREX.com comes with 2 primary trading platforms:

  • FOREX Trader PRO downloadable
  • Website Trader

The website of the company has done a commendable job in keeping up the network of users. The website directs users to their own platforms, but the ones who want to scroll down further can find their way to access the MetaTrader4 platform that opens up in a new window.

It is pertinent to mention that the web-based platform of this company is quite unique and different from most of the other private trading platforms. Even though it is not clearly mentioned on the website, it was noticed that the platform is more suitable for novice traders who would prefer to have access to compartmentalized analysis and news. However, the FOREXTrader PRO platform is much better for pro traders.

During our review, we noticed that this platform, if not used for a few minutes, become idle. Although it might be inconvenient as a thought, the company takes adequate measures to protect the security of traders, which is appreciable. The platform seemed impressive as it maintained that same screen we used at the time we left that helped us in picking up from the point where we had left off.

The QUICKDOCK is an interesting feature in FOREX.com where all the activities take place. It is located right at the bottom of the screen. It is the control panel; for traders who would like to monitor the trades in full screen, it can be minimized. QUICKDOCK is the best feature we liked because it offers that clear place for getting your account summary, placing a new order, managing your positions and viewing all your orders, both past and present. You can also access relevant news, charts and information related to the trader using this platform. Even though it is not embedded with any trading instrument, the design is such that it will be an added advantage for the newbie traders who want to emphasize primarily on the execution of trade.

The advanced trading platform, appropriately known as FOREXTrader PRO, comprises of all the important things associated with a proficient Forex Trading platform. The fact that a trader can switch over from one platform to another while retracting same information from the account, is something really interesting and noteworthy. Although this is a useful feature that we identified during the review, most traders may not use it exclusively. Nevertheless, this convenience is likely to be a testament to the ability of the trading platform to address the important requirements of traders.

Some of the critical tools of trading are included in FOREXTrader Pro, such as live news feed, more than 70 technical charts, a watch list and economic calendar. We were really intrigued to find that there was a link to the Forex glossary of the company, placed prominently in the platform than in its web-based version as it will not be as important for the veteran traders as for the new traders. Nonetheless, it was a pleasure to see that this website used all the resources and means to provide information and services related to trading through the trading platform.

Intriguingly, FOREX.com also offers the mobile trading platform for traders through its specialized iPhone application, and for other phones it offers the standard web app. Well, we did not test the app personally, but we have all the reason to affirm that they are definitely user-friendly as all the other trading platforms of the company.

Features

FOREX.com does not include many of the usual peripheral features included by other brokers. For instance, it does not include social trading. Although it is an NFA regulated Forex broker, it does not offer equal leverage offered by the non-US brokers. Nevertheless, traders who want straightforward experience in rating will find that this platform offers some excellent features. Some of the features that we like the most are:

  • Quality and timely market updates. The company maintains a pool of proficient market analysts offering regular updated, which helps in improving the overall efficiency of trading. Even though this feature is not unique, we have found that the updates are written in an understandable and comfortable manner.
  • The Forex webinars training sessions are included by the company, which is invaluable for the novice traders. This feature is markedly useful than most printed educational materials.
  • The fact that it offers automated trading makes it one of the best in the business. This service, along with the ZuluTrade, offers valuable insight to users who require some extra help.

Help and Support

We must admit that we were thoroughly impressed with the customer service offered by FOREX.com. The company’s customer service team is commendable. It offers constant support, 24 hours between 10am on Sundays through 5pm on Fridays EST. Support is also available on Saturdays from 9am to 5pm EST. Live online chat support is available and representatives respond quickly to help you. Email service is also appreciable, and so is telephonic service. Response time is not unusually long.

Summary

Throughout the review, we were impressed by most of the intriguing features of FOREX.com. In fact, the intuitive design of website and the rating platforms were simply outstanding. Especially included useful links to other Forex brokers will help users to retain contain information. The fact that this platform has no qualms in leading traders to another trading platform or website shows its confidence.

There were some notable conveniences offered by the website during the process of registration. Upon opening a demo account, it was really pleasant to see that there is an auto login feature that did not require a username or password that most other brokers need. Opening the live account was fairly easy and exceptional because the tax forms were presented at the time of signing up and needed even during the entire process. Straightforward registration process and easy access are the star points of this Forex broker.

Tags:
raders, MT4, NFA, ZuluTrad

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