Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
FXCM is a respected forex and CFD broker, established since 1999. The British-headquartered broker has won multiple awards and operates in various jurisdictions, including the UK and Australia. With zero commissions, over 400 assets, and a range of analysis tools, FXCM remains a popular choice for traders. The broker is also regulated by top-tier authorities including the FCA and ASIC.
Pros
With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring traders with a slick design and over 80 technical indicators for market analysis.
Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious traders.
There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
Alongside the 4 charting platforms, FXCM also offers a market-leading range of specialist software for experienced investors, including QuantConnect, AgenaTrader and Sierra Chart
The proprietary Trading Station terminal is a good choice for traders looking for an all-in-one solution for their short-term and automated trading strategies
Traders can utilize several top-tier trading tools including a market scanner, forex signals and third-party research site, eFXPlus
FXCM’s global reputation is impressive, with licenses from the FCA, ASIC, CySEC and FSCA and a 20-year business history
A range of funding methods are available including bank cards, Apply Pay and PayPal, with instant processing times
The broker offers spread discounts and other excellent perks for experienced traders in the Active Trader account
FXCM has expanded its range of trading opportunities with 24-hour stock CFDs through MetaTrader 4
Cons
Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test trading strategies effectively.
Although FXCM continues to gear their services towards experienced traders, it’s a shame that there are no managed accounts on offer
There is no choice of retail accounts for traders, nor any Cent/Micro account options
The live chat support can be slow and unreliable compared to the top competitors
Awards
Best CFD Broker 2022 - Rankia
Best HNW Service 2022 - Dubai Forex Expo
Best US Broker 2020 - DayTrading.com
Best US Broker 2019 - DayTrading.com
Runner-Up - Best Forex Broker 2019 - DayTrading.com
Running alongside the MT4 and Web Trader platforms, the FOREX.com app offers full trading capabilities on a user-friendly, compact platform. Integrated news and analysis, plus real time trade alerts, are two mobile specific features that set this app above the crowd. Additionally, it beats out MT4 when it comes to mobile charting tools, with over 80 indicators and 11 chart types, not to mention a slicker design that we love.
iOS App Rating
3.6
Android App Rating
3.8
Margin Trading
Yes
Yes
MetaTrader 4
Yes
Yes
MetaTrader 5
Yes
No
cTrader
No
No
AlgoTrader
No
No
OmniTrader
No
No
TradingView
Yes
Yes
Autochartist
Yes
No
eSignal
Yes
Yes
Trading Central
Yes
No
STP Account
Yes
No
ECN Account
Yes
No
DMA Account
Yes
No
MAM Account
No
Yes
PAMM Account
No
No
LAMM Account
No
No
Demat Account
No
No
AI / Machine Learning
Yes
No
Robo Advisor
No
No
Negative Balance Protection
Yes
Yes
Market Maker
No
Yes
P2P Trading
No
No
Spot Trading
Yes
No
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
No
Yes
Copy Trading Platform
FXCM offers social and copy trading on forex, CFDs and cryptos through the hugely popular ZuluTrade platform. The sign-up process is quick and you can track your performance in real-time.
Social Trading
No
Yes
Trade Signals
SMART Signals
VPS Hosting
Yes
No
Tournaments
No
No
Demo Competitions
No
Yes
Ethical Investing
No
No
Custodial Account
No
No
Guaranteed Stop Loss
No
No
Inactivity Fee
$15
Islamic Account
Yes
No
Account Currencies
USD
EUR
GBP
CAD
AUD
JPY
CHF
PLN
USD
EUR
GBP
CAD
AUD
ZAR
CHF
Commodities
Gold
Oil
Silver
Cotton
Livestock
Soybeans
Coffee
Natural Gas
Sugar
Wheat
Orange Juice
Gold
Oil
Silver
Cannabis
CFD
With the ability to take both long and short positions on 5,500+ CFDs across forex, stocks, indices, commodities, and cryptocurrencies, FOREX.com excels. Its exclusive Web Trader platform offers an excellent trading experience, equipped with over 80 technical indicators and average execution speeds of just 20 milliseconds, ensuring an optimal environment for serious traders.
You can trade a range of CFD instruments across forex, shares, indices and commodities. There’s an excellent selection of platforms for traders, including TradingView and MT4, plus additional tools for experienced algo traders including API solutions.
Leverage
1:30 (Retail), 1:500 (Pro)
1:30
FTSE Spread
1.0
1.18 pts var*
GBPUSD Spread<
1.3
0.5 pips*
Oil Spread
2.5
0.05 (var)*
Stocks Spread
0.14
0.2% Var*
Forex
FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets.
FXCM offers an average range of 40+ currency pairs, although there are no commissions and spreads are competitive from 0.78 pips for EUR/USD. The broker also offers 3 forex baskets covering USD, Yen and emerging markets benchmarks.