FOREX.com Review Is Gain Capital UK A Legit Broker

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FOREX.com Review Visit site

About FOREX.com

FOREX.com are forex brokers. FOREX.com offers the MetaTrader4 and GTX-Forex ECN top forex trading platforms. FOREX.com offers over 40 currency pairs, gold, and silver for your personal investment and trading options.

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Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 200:1
Minimum to Open Live: $100
Established: 2001
Address: Bedminster One 135 US Highway 202/206 Suite 11 Bedminster, NJ 07921, United States
Contact: [email protected], 1.877.367.3946
Regional offices:
Regulators: CIPF #, CIMA #25033, FFAJ #1539, FCA #113942, NFA #0339826
Prohibited countries:

Yes

Yes

Trading platforms: MT4, MT5, WebTrader
Web Trading:
Mobile Trading:
Currencies: (80+)
Cryptocurrencies: (5+) Litecoin, Ethereum
CFD: (25+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Bonds, Oil, Other Commodities

Yes

Scalping:
Deposit Methods: VISA, MasterCard, Local Bank Transfers, Maestro
Withdrawal Methods: VISA, MasterCard, Local Bank Transfers, Maestro

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Consumer Reviews

Service use: Live

Length of use: 6-12 Months

Service use: Live

Length of use: over 1 Year

Service use: Live

Length of use: 0-3 Months

Service use: Live

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Length of use: 6-12 Months

Service use: Live

Length of use: over 1 Year

Service use: Live

Length of use: 6-12 Months

Service use: Live

Length of use: 6-12 Months

Service use: Live

Length of use: over 1 Year

Service use: Live

Length of use: 3-6 Months

Service use: Live

Length of use: 6-12 Months

Frequently Asked Questions

How do I trade on forex.com?

To make a trade on Forex.com, the following steps explain the main procedure.

  • Select a currency pair
  • Analyze the market
  • Read the quote
  • Pick your position
  • Entering a buy position
  • Entering a sell position

Is forex.com a good broker?

Unbiased traders reviews on ForexPeaceArmy is the best way to answer if Forex.com is a good broker. https://www.forexpeacearmy.com/forex-reviews/66/FOREX.com-fx-broker-reviews

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

FOREX.com Review: Is Gain Capital UK A Legit Broker?

FOREX.com Review: this is the name of a Forex brokerage that is located in the United Kingdom. Is Gain Capital UK Ltd a scam Forex broker? Read this revealing review to find out important details about this Forex trading company.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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FOREX.com mentions that it is a brand name of Gain Capital UK Ltd, a company in the United Kingdom. Forex trading in this region is under the regulation of the Financial Conduct Authority (FCA). When we checked the online register, we found that Gain Capital UK Ltd is truly licensed by it and the broker is listed as one of its arms.

This is a major advantage for the brokerage because trading with a Forex broker that is licensed reduces many dangers to traders’ funds. Misappropriated funds can be recoverable by the government as well. Licensed brokerages are under many rules of trade and this gives traders a level of assurance.

Advantages of FOREX.com

The broker calls itself “the Global Forex Trading Specialist” giving tight spreads on many trading assets. It also uses the lowest trading costs for those engaged in the crypto markets. They are global market leaders, giving professional accounts and technologically advanced trading platforms. It is of use to both experienced and inexperienced traders.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

Guides on specific profit-making strategies are also available for use by clients of the company.

FOREX.com Trading Platform

FOREX.com gives traders access to the MT4, MT5, and WebTrader trading platforms. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are 90+ currency pairs, 5+ cryptocurrencies, and CFDs on about 25+ commodities, stocks, and indexes. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

The maximum leverage offered to clients is 1:400 and while this may seem generous, it is not advisable. High leverages can lead to a huge loss of funds as well. Spreads are said to be tight but not specified.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on FOREX.com

The means of making deposits and withdrawals with this broker are VISA, MasterCard, Local Bank Transfers, and Maestro. Finding that e-wallets are not mentioned is not encouraging because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

The minimum deposit that forex.com requires is $50 which is within the obtainable average of $100 to $250 usually required by many other brokers. Withdrawal fees are not mentioned and this may be because they do not apply. However, we will appreciate it if this is stated.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Negative Reviews

On the Forex Peace Army website, we found that there are lots of recent negative reviews. Many customers have made complaints about FOREX.com and it is not good for their image. Also, the fact that the broker has no representative replying to these accusations is also damning.

Is FOREX.com Licensed?

Yes. FOREX.com is a properly licensed and registered Forex brokerage. It is authorized to trade by the Financial Conduct Authority (FCA) under the company name, Gain Capital UK Ltd.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To get more information from the customer care service, dial 1.877.367.3946 or email at [email protected]

Conclusion

FOREX.com gets high ratings because it holds a legit license and also offers tempting trading conditions in terms of leverage. Its transaction methods are not inclusive of the many e-wallets which are not encouraging. We also found many negative reviews tainting the broker’s image on Forex Peace Army. If you have anything to say about this broker, do so in the comment section.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

Forex.com review

Forex.com

Leverage: 1:40

Regulation: FCA, IIROC, ASIC, CFTC

Min. Deposit: 50US$

HQ: US

Platforms: MT4, FOREX.com Platforms

Found in: 1999

Forex.com Licenses

  • GAIN Capital Holdings Inc – authorized by CFTC (USA)
  • GAIN Capital Holdings Inc – authorized by NFA (USA)
  • GAIN Capital UK Ltd – authorized by FCA (UK) registration no. 113942
  • GAIN Capital Canada Ltd – authorized by IIROC (Canada) registration (view the license)
  • GAIN Capital Australia Pty Ltd – authorized by ASIC(Australia) registration no. ACN 141 774 727, AFSL 345646
  • GAIN Capital Japan Ltd – authorized by JFSA (Japan)
  • GAIN Capital Singapore Pte Ltd – authorized by MAS (Singapore)
  • GAIN Global Markets Inc. – authorized by CIMA (Cayman Islands) registration no. 25033

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  • Our Review
  • Forex.com review User Reviews
  • Forex.com review News
  1. Is Forex.com safe or a scam?
  2. Trading Platform
  3. Fees
  4. spread and overnight fee
  5. Leverage
  6. Deposits and Withdrawals conditions with a minimum deposit and withdrawal fee
  7. Conclusion

What is Forex.com?

FOREX.com as a trading name and a part of GAIN Capital Holdings Inc which is a publicly-traded company providing online trading solutions. Founded in 1999, the company today supports customers in over 180 countries with a global presence across North America, Europe and the Asia Pacific regions, provides offices, while headquartered in New Jersey (US), in Canada, UK, Hong Kong and Australia.

Throughout highly developed platforms, Forex.com has developed its own platform for trading, which now is one of the best options, as clients obtaining access to the world’s most popular currencies (over 80 currency pairs and average turnover of $5.1 trillion a day, including Bitcoin and Ethereum against USD, AUD, EUR and GBP with fixed spreads and low margin) , indices, shares (without stop-specific risks, spreads from 1 pt) and commodities (with zero commission and 1% margins).

Indeed, trade of cryptocurrencies and other pairs at Forex.com is a satisfaction process, as firm owing to fixed spreads, low margin and competitive financing, as well there is no need to create a virtual wallet.

Awards

For about twenty years of presence and operation firm receive numerous reviews and global recognition, really impressive number of awards and nominations, alike “Best Broker in the USA” 2009-2020, Shares Awards 2020, Investment Awards, etc.

Is Forex.com safe or a scam?

FOREX.com is definitely a trusted financial service provider, as the trading name used by the GAIN Capital Holdings, principally the company incorporated in the US according to all the strictest laws and requirements. Nevertheless, for the reason of global presence and truly wide operation in world financial centers, company withholds regulations by various regulative authorities worldwide which includes IIROC (Canada), CFTC (USA), MAS (Singapore) and ASIC (Australia).

Forex.com (GAIN Capital) entity Regulation and License
GAIN Capital Holdings Inc Authorized by CFTC (USA)
GAIN Capital Holdings Inc Authorized by NFA (USA)
GAIN Capital UK Ltd Authorized by FCA (UK) registration no. 113942
GAIN Capital Canada Ltd Authorized by IIROC (Canada) registration (view the license)
GAIN Capital Australia Pty Ltd Authorized by ASIC(Australia) registration no. ACN 141 774 727, AFSL 345646
GAIN Capital Japan Ltd Authorized by JFSA (Japan)
GAIN Capital Singapore Pte Ltd Authorized by MAS (Singapore)
GAIN Global Markets Inc. Authorized by CIMA (Cayman Islands) registration no. 25033

Consequently, FOREX.com indeed complies with necessary, strict regulatory requirements and standards, while obliged to provide the safe and highest level of operations. Doubtless, the company keeps all procedures in a supreme way and including data protection, funds safety – entitling the company to hold funds in segregated accounts, secure online transactions and executions, etc. As well, Forex.com provides central counterparty clearing through OSCA as standard to all clients.

Trading Platforms

There are two main choices offered by Forex.com to the client, which goes to the option of a proprietary platform designed by Forex.com or mainstay on popular industry software MT4. The Forex.com owns various platforms to meet unique trading needs and satisfy particular solutions, those platforms presenting powerful developed trading tools (70+ technical indicators) and signals while using instant or market execution, as well ability to set user-defined price tolerance.

  • Advanced trading platform designed especially for active traders, offering desktop viewing with a full asset of customizable preferences, indicator features, powerful charting tools and many more.
  • Web trading platform optimized for high performance and speed on any computer, as well combining numerous integrated market analysis and tools
  • Mobile trading – is definitely “must have” with modern living, serves as a powerful, complete trading platform with multiple order types by hand

In case you would choose to use known MetaTrader4, the platform has also been enhanced with integrated pattern software and other highly developed trading tools, using market execution method. And of course, platform poses a choice to use MT4 via Desktop, Web or iPhone, Android apps.

As for the trading accounts with FOREX.com, traders can choose appropriate one either from a Standard Account and benefit from tight forex spreads and opportunity with automatic price improvement (when the market mover in the client’s favor, savings passed automatically). Another option is a Commission Account which enables additional benefits and offers with ultra-tight spreads and fixed commissions.

Forex.com Spread

FOREX.com offers both fixed and variable spreads, depending on the market you wish to trade, along with an opportunity to reduce costs by up to 15% with cash rebates. Therefore, trader may choose the suitable option and engage into trading with or without commissions, see blow comparison of typical spread on Standard Account.

Asset/ Pair Forex.com Fee Terms
EUR/USD 1.2 pips
Crude Oil WTI 5
Gold 45
BTC/USD 70 pips

For instance, you can compare Forex.com fees with its peer Plus500.

Forex.com Overnight Fee

Forex.com overnight fee is an additional cost, which should be considered in case you hold an overnight or long position. The fee calculated by the Forex.com is calculated by the percentage along with interbank exchange rates, which is calculated by the formula as e.g. Forex.com EUR/USD overnight fee for buying position is -2.5% and 2.5% for selling.

Good to know that also FOREX.com charges an inactivity fee of $15 (or equivalent) per month if there is no trading activity for a period of 12 months or more. Accounts with a balance of 10,000 base currency are an exception.

Leverage

Leverage as a popular tool widely used by the brokers and traders allows trading of larger capital compared to the initial capital. Previously brokers generously awarded trader by high leverage ratios, yet the US regulation and recent update from the European ESMA set a limited maximum in order to protect clients. Therefore, again concerning Forex.com global regulation and presence, the leverage ratios will vary according to the trader’s residence, as well as under which authorization account is open. The US clients may use a max of 1:40 leverage to Forex instruments, while European entities are set to only 1:30, however, Australian clients still may enjoy leverage on Forex up to 1:400.

That limitation is done with a purpose to limit potential losses, as high leverage may impose trades quickly in reverse as well. Thus, you and any trader should use leverage levels smartly and learn how to do it correctly for a particular instrument.

Forex.com Deposits and Withdrawals

FOREX.com offers just a few payment methods, but anyhow those methods are most trustable and the most common ones. The set is limited to bank transfers and Credit/ Debit Cards. All payments are typically processed within one banking day.

Forex.com Minimum deposit

The minimum initial deposit required for a standard account is at least $50, but there is a recommendation to deposit $2,500 to allow flexibility, full range of instruments and better risk management.

Forex.com Withdrawal fee

There are no charges or any fees on debit and credit card deposits or bank transfers, there are also no charges to withdraw funds, which is indeed a pleasant addition to overall money management.

In addition, as a part of GAIN Capital Payments Ltd additional services powered by a mother-company are offered to the clients. Forex.com offering priority and regular Money Transfers from the UK, or FOREX.com account featuring fast, easy and secure online money transfers to 200+ countries.

Conclusion

As a global leader of online trade and highly regarded by numerous traders for supreme integrity FOREX.com definitely worth attention for traders to partner with. Apart from well reputed and respected international standing of GAIN Capital Holding, which FOREX.com is part of, solid financial backup proven by the vast number of companies behind along numerous regulations worldwide.

Numerous benefits in both technical and operational parts, including innovated by broker functional tools, together with an excellent customer support pillar traders getting comfortable conditions to maintain successful trade along with a quite competitive pricing.

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