FOREX.com Information
FOREX.com is a broker incorporated in the United Kingdom. It is a member of StoneX Group Inc., a NasdaQ-listed company that provides services including trading of over-the-counter products and currency pairs. However, the current situation is that FOREX.com is not regulated and transactions with it may be risky.
Pros and Cons
Is FOREX.com Legit?
FOREX.com, currently an unregulated broker, operates outside the scope of laws and regulations, and traders are reminded of the risks of trading with such brokers.
What Can I Trade on FOREX.com?
According to FOREX.com's description, you can trade over 1,250 markets, including CFDS for forex, commodities, stocks, indices and metals.
Trading Platform
Deposit and Withdrawal
Unfortunately, FOREX.com does not disclose information about deposits and withdrawals, but the broker says there are no hidden fees, all fees are public, and the minimum deposit threshold supported is $100.
Customer Service
FOREX.com provides very limited customer service and does not provide contact channels such as telephone and email to traders. Currently, the broker only supports online contact 24/5.
The Bottom Line
FOREX.com supports three trading platforms :MT4, MT5 and Jiasheng Exclusive Trading Platform. Despite a variety of tradable instruments and the advantages of no commission, FOREX.com is currently unregulated and offers limited customer service options, which can pose risks to traders.
FAQs
Is FOREX.com safe?
No. FOREX.com's unregulated status means that its security cannot be guaranteed.
Is FOREX.com good for beginners?
No, it's not for beginners. While FOREX.com offers a user-friendly MT4 platform, its unregulated status is not for beginners.
Is FOREX.com good for day trading?
No, it's not suitable for day trading. The availability of MT4 and MT5 platforms is good for day trading. But the unregulated status may not be suitable for day trading that requires a safe and secure trading environment.
