FOREX.com Customer Reviews
Tell us what you think of this provider.
nice plataform
I had been used quite good forex plataforms, but I found in Forex.com an excellent resource to do my orders. I recommend for sure.
Trust is everything
Always on hand and regular warnings of when markets may become volatile, a great trading partner.
Honest and sincerely
Transparent, honest and sincerely
Not currently using
Not currently using
Good
Good
n/a
n/a
Good broker
Good broker
Good and proactive.
Good and proactive.
simple
simple
Good
Good
FOREX.com Expert Review
FOREX.com Won Best Forex Broker in our 2025 Awards
Provider: FOREX.com
Verdict: FOREX.com is one of the largest forex brokers operating globally and owned by Nasdaq-listed institutional broker StoneX. Forex.com offers traders access to 5,500+ assets including 80+ currency pairs, thousands of stocks, popular commodities, indices and cryptocurrencies (pro accounts only in the UK). Pricing is competitive, especially for those on the RAW spread account or active trader programmme.
76% of retail investor accounts lose money when trading CFDs with this provider.
Is FOREX.com a Good Trading Platform?
FOREX.com won Best Forex Broker in the 2025 Good Money Guide Awards.
24-Hour FOREX.com Test
I took FOREX.com out for a 24-hour test drive, to trade with real money and try out some of the key features on the streets of the City of London. Here’s what happened…
“For FX sake”, I thought to myself when faced with writing a review about a forex broker. Firstly because all these brokers do is offer access to the forex market (or so I believed). Secondly, because I’ve never had much success with forex trading. I find the nuances of intra-day technical analysis too complicated.
I’m an old-fashioned trader – I like to look at the market and think it’s either overvalued or undervalued and, in my mind anyway, that’s easier when looking at a company’s share price, an index or even a commodity. But for some reason, with forex trading, I’ve never really got the hang of it.
Having said that, I have dealt currency for about 20 years now, but more as a broker rather than as a trader. For instance, I used to do some prime brokerage for institutions that would hedge their currency exposure when buying aeroplanes.
But I was so frustrated with how opaque pricing was in currency trading, that I decided to start up my own currency brokerage specialising in high-value currency transfers (£250,000 upwards) and undercutting everyone. It was called Berry FX, you can still see the demo on YouTube. Basically, personal service with the best rates anywhere ever. But now I just let other currency brokers compete for clients by trying to offer the best exchange rates.
But you want to know what I think of FOREX.com.
24 Hour Test
I took FOREX.com out for a 24-hour test drive around the City of London, putting some real trades on whilst going about my business to see if I could make any money.
I started out at the Bank of England with £10,000 on account at 11:30am. Lunch was a few minutes’ walk from the tube station, so I took the opportunity to put some trades on using FOREX.com’s trading signals. I’ve used these for years; back in 2018, they were known as GetGo and it was a standalone forex trading app. When I reviewed it then, I said these were the future of forex trading signals but are they still?
There are a couple of things that make these signals better than the rest.
- They tell you the success rate.
- The signal is linked to an order ticket.
When I was walking down King William Street to L’Antipasto to meet some contacts for lunch, I put a few trades on. First, I looked at the traders that had a historic success rate of over 50% and followed them. Then I looked at trading signals that had a success rate of less than 50% and traded against them. It’s a pretty simple strategy that generally works (not always, though). I used the classic stop/limit risk/reward ratio, aiming for twice the potential loss as a potential win. Again, simple forex trading strategies. The market is not hard to call, but if you get a trade right, it often pays to let it run for longer, but if it’s wrong, close it sooner.
Trading Central
On the way to my next meeting, I took a few moments on London Bridge to look at some of the other signals on FOREX.com: Trading Central. Now, Trading Central has been providing technical analysis to brokers for decades and supplies a constant stream of manually and automatically updated trading ideas throughout the day to give traders an indication of where the markets may go.
It’s not as fluid as the trading signals, as you have to put the trades in manually, but still gives you a bit of stimulus. This is great for someone like me because I generally have an idea of what I want to do from eyeballing a chart (I did, after all, run a technical analysis division for 5 years), but it’s nice to get confirmation of your thoughts one way or another.
Execution
When you are actually trading there are some great other features on the app:
- Swipe to trade: a bit like Tinder (so I hear)
- Chart on tickets: with a quick tap, you can bring up a chart when on the order ticket (to double-check)
- Working orders on charts: when looking at a chart, you can see your working orders and positions
- Position potential: as well as seeing what margin is required when placing a trade, you can also see and set your stops and limits as a potential monetary amount instead of pips
Post-Trade Analytics
Once you’ve done a bit of trading, you can review your trading history and see where you do well and where you can improve. This is a great feature as it can break down how well you trade by time of day, markets or volatility.
You can also set up “Play Maker” if you have a trading strategy and want to stick to it. Obviously, you can’t get that sort of data in a 24-hour test drive, so I’ll have to revisit that another time.
Demo Account
FOREX.com has a pretty good demo account. In fact, it’s hard to tell the difference between the demo and live trading platform. You get the same functionality and as trades are OTC, the same prices.
However, when I opened a demo account to test it, I already had a real account. So after I got my demo account login details, I clicked through to the “Webtrader” portal and (funny or alarming, depending on how you look at it) my live account details were auto-filled in by Google Chrome.
Now, had I not been checking my email, to ensure that the platform had sent me through my credentials, I might not have noticed that I was logging into a live account. It could have been disastrous if I’d started trading away thinking it was paper money. Even more so as you get £10,000 in demo funds and I’d deposited £10,000 in my live account when I took FOREX.com on a 24-hour trading signal test drive.
It reminded me of when a trader thought that he was trading on a demo account and put $1bn worth of orders through and then sued his broker because it voided his €10m profits.
TradingView & MetaQuotes
I had a good play about with TradingView, as it’s now the go-to destination for traders. TradingView is a sort of social network for traders where you can view charts (they are excellent) and post trading ideas (take with a pinch of salt). As TradingView has grown, it has also become an execution venue, so you can link your FOREX.com trading account and deal straight from the charts. This shouldn’t be too much of a stretch for most traders as the charts on the app and web-based platform are provided by TradingView (which, incidentally, is one of the largest financial-based websites in the world now).
You can also trade on MT4, if you are into that sort of thing…
Am I a Forexpert?
I did make money on day one, mainly thanks to putting on a GBP-USD trade that covered most of the losses from some of the other trades. When I used the trading signals 5 years ago, I also made money. Day 2 wasn’t so good. On my way to an investor show, I gave back a few pennies but still ended up on top. But I have to admit my traders were calculated guesses rather than heavily researched positions.
I don’t like holding positions overnight, as day trading reduces not only your margin requirements but also increases the amount of sleep you get because you don’t wake up with cold sweats in the middle of the night worrying about Asian interest rates.
Overall would I recommend forex.com? Yes, if you are going to trade forex and don’t know where to start, as it’s a massive brand with global reach and owned by a listed brokerage with an institutional pedigree. As far as box-ticking is concerned, it ticks the lot. Or should I say pips the lot…
Pros
- Trading signals
- Post trade analytics
- Forex specialist
Cons
- Limited market range
- No DMA
- Pricing
- Market Access
- Online Platform
- Customer Service
- Research & Analysis
Overall
4.9FOREX.com News
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FOREX.com wins best forex broker at Good Money Guide Awards 2024
How much leverage does FOREX.com offer?
Forex.com introduces RAW forex trading spreads
72% of retail investor accounts lose money when trading CFDs with this provider.
FOREX.com FAQ:
Yes, Forex.com is legit. Forex.com is owned by NASDAQ-listed US broker StoneX. In fact, the domain name Forex.com is one of StoneX’s most valuable assets as it is the driving force behind most of the client acquisition for their forex trading brand.
Yes, Forex.com is a safe place to trade as in the UK they’re regulated by the FCA. This means your funds are protected by the FSCS, should they as a broker default.
There is an inactivity fee of $15 (or local currency equivalent) if you do not use your Forex.com account for 12 months. Brokers charge this so that if people completely forget about their accounts, the small fee covers the cost of administration and will eventually deplete account funds so the account can be closed with a zero balance.
The minimum initial deposit for a Forex.com account is £100 of your selected base currency ($100 USD etc.). However, it is important to note than when trading margin FX you take to take into account initial and variation margin to fund ongoing positions.
Yes, Forex.com is a good trading platform for scalping because of it’s tight FX pricing and also it’s intraday short term Smart Trading Signals.
Yes, you can hedge forex in two ways with forex.com. You can either hedge an open position on either Forex.com’s own trading platform or MT4. Or, you can use forex.com to hedge physical currency exposure using derivatives.
Forex.com makes money from the difference between the buy and sell prices when you trade (the bid/offer spread) and by charging overnight funding fees on positions.
Yes, you can trade cryptocurrencies on Forex.com in the UK if you have a professional trading account. Or, if you are based outside the UK, other regions will let you trade crypto as a retail trader.
72% of retail investor accounts lose money when trading CFDs with this provider.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
You can contact Richard at richard@goodmoneyguide.com