Forex.com

Who FOREX.com Is For

FOREX.com is a great choice for all kinds of traders who want exposure to a broad range of assets and commodities however it is an excellent choice for traders who trade in large volumes. The product offerings differ according to region, however, the broker is focused on fast and secure execution, a wide range of platforms and security of accounts. For the U.S., it is targeted at clients who wish to trade on the forex markets.

Trade Experience

FOREX.com’s trading platforms cater to professionals in the field of day trading and traders who may be more seasoned. Clients have the option of choosing between the download advanced trading platform, or MetaTrader 4 (MT4) for an experience on a desktop or the web trader to provide the trading experience that is based on a browser, or pick for the FOREX.com as well as the MT4 mobile app to trade on mobile devices with smart phones.

In the platform traders have access to charts as well as economic calendars, news, positions and order/trade history. They can also access research and trade signals reports and market analysis by FOREX.com analysts. There aren’t many disadvantages with the platforms. There’s plenty of drawing tools and indicators that will satisfy the most avid technical analyst. Additionally, they are able to allow for rapid-fire trading in the event of need. The charting program is offered via TradingView and is probably the most stunning feature of the platform that is web-based.

The process of placing trades via the web trader or the download-able Advanced Trading Platform is easy. Customers can trade directly from charts by right-clicking, and choosing”trade,” or by selecting the “trade” option or by clicking either of the “buy” and “sell” buttons at the upper edge on the graph. This opens an order window in which the entry as well as the stop loss and profit targets are defined. One-click trading is a feature that can be activated to speed up the execution of trades.

FOREX.com’s platform comes with four standard types of orders with the possibility of connecting ” take profit” or ” stop loss” orders to them. Furthermore, traders could opt to create a stop loss the order a trailing stop loss. The only difference between the online and the downloadable option is that the guaranteed stop loss orders can only be found for the latter, and in addition, only available to U.K./E.U. clients.

• Market is the easiest order by which traders signal that their request for trade should be completed at the current market rate.
• Limit – A pending trade where the entry occurs at a specific level below or above the market price in effect, based upon whether the trade is a sell or sell. The trader is also given the option to choose the expiration date of the order.
• Stop – A pending trade where the entry point is the predetermined level between or above the current market price, based of whether this is a purchase or sell. The trader is also given the option to choose the expiration date of this particular order.
• OCO is a pair of waiting order (one is an entry limit, and the other one an entry limit) in which the execution of one cancels the other. The trader is also given the option to choose the expiration date of the order.

A FOREX.com account can be connected to NinjaTrader which is a well-known Third-Party trading system. VPS is accessible for accounts using MT4. Clients can utilize FOREX.com’s API for connecting to the development of their strategies. MT4 as well as MT5 connectivity allow the creation of automated strategies based on MetaTrader algorithms.

The mobile app is fully functional and gives traders access to their entire account details. Traders can make to or remove funds look up the history of trades, create watchlists, read information, and view charts on the application. It’s also simple to use and set up.

The charting function has been identified as one of the weaknesses of the mobile application. There is a limited selection of indicators that are commonly used like RSI, MACD, and moving averages, however drawing functions as well as more sophisticated tools for technical analysis aren’t available. The full functionality of orders is accessible with conditional orders as well as the ability to quickly set stops and profit targets during the course of trading.

Demo accounts that are functional are offered at no cost, allowing potential customers the opportunity to evaluate the pricing structure prior to committing to real money. The only issue with the demo accounts of the broker has to do with the fact that they run out after 30 days. FOREX.com does not give potential client the option of prolonging or requesting a fresh account with the same account. It’s a sign the fact that it’s enough time try our platform, and you should you can either create a fully funded “live” account or go to another broker.

Range of Offerings

In the world, FOREX.com provides access to an extensive array of financial instruments that cover various types of assets, including:

• 80+ currency pairs
• More than 4,500 popular stocks
• Commodities
• Indices
• Bonds
• ETFs
• Sectors
• Cryptocurrencies
• Gold & Silver
• Futures & Futures Options – U.S. (FuturesOnline)

Within the U.S., its product range is exclusively geared towards the trading of spot currency, no leveraged silver and gold, as well as Futures via its subsidiary, FuturesOnline.

Customer Service

The website of the broker lists a variety of ways to reach clients FOREX.com with regards to chat online and live support via phone between 10 a.m. ET on Sunday through 5 p.m. ET on Friday. FAQs and customer support on the website were good, however repeated attempts to contact them via “live chat” proved to be ineffective. Social media support isn’t accessible, but they have accounts on social media which post market research and company details.

The fastest way to contact support is via phone. method of getting your questions answered by a live person. There’s a brief menu available before you start the call. The wait time will differ according to the volume of calls received and the time of day, but on a typical day, you could anticipate waiting for several minutes before connecting with an agent. Support via email will be available to answer more specific queries, but you should expect to wait up to three days for an answer.

Education

FOREX.com’s Educational offerings for clients are at level with industry standards and well-organized. Users can access content according to their expertise level or thematically. The majority of content except for “technical analysis” topics that are accessible through the platform is accessible only via the website.

Client experience is divided into three categories–beginner, intermediate, and advanced, while themes range from the industry norm of providing market basics, such as fundamental and technical analysis, risk management, and trading strategies, to platform tutorials. A complete glossary is also available.

Research Amenities

FOREX.com’s analyses of the market and research are up to industry standards. Its insights help connect traders with the market and complement its education tools.

FOREX.com’s platform is home to Trading Central, a third-party provider that offers technical analysis reports, the economic calendar Reuters information feeds, and its own news and analysis market wrap articles. A margin calculator as well as a variety of charting and trading tools are accessible on all their trading platforms. The accounts of the broker’s “premium” and “pro” accounts offer the possibility of receiving customized research based on the needs of the customer.