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Forex.com Review 2024

Written by
Adam N.
Fact checked by
Updated
23h ago
Regulated and trusted. Tested via live trading.
18,011 people chose this broker
Available in United States

Why choose Forex.com

Forex.com is a global forex and CFD broker, regulated by many financial authorities, including the top-tier FCA in the UK.

Forex.com provides everything you need for forex trading: low forex fees, many currency pairs and lots of technical research tools.

At the same time, it lacks some popular asset classes, such as real stocks or bonds. Stock CFD fees are high, and the desktop trading platform is not user-friendly.

CFDs are banned in the US. If you are a US resident, you will not be able to trade CFDs at Forex.com.

  • Low forex fees
  • Great variety of currency pairs
  • Diverse technical research tools
Overall score
4.5/5
Minimum deposit
$100
FX fee
Low
Index CFD fee
Low
Withdrawal fee
$0
Account opening
1-3 days
Visit Forex.com

69-77% of retail CFD accounts lose money

Not sure if this is the right broker for you? See the best ones.

See how the best brokers in the United States compare to Forex.com

EURUSD spread
Usual spread in pips

Fees

Score: 3.7/5
Forex.com has low fees for forex trades and there is no withdrawal fee. On the other hand, stock CFD fees are high and there is an inactivity fee.
  • Low forex fees
  • No withdrawal fee
  • Low stock index CFD fees

We compared Forex.com's fees with two similar brokers we selected, FXCM and Oanda. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Forex.com alternatives.

Low FX fees

All fees are built into the spread, so there is no separate commission charged. For example, the EUR/USD spread is 1.2.

Broker
EURUSD spread
FX commission per lot
Forex.com
1.2
No commission is charged
FXCM
0.7
No commission is charged
Oanda
1.0
No commission is charged
Forex.com forex spreads and commissions

US and Canadian customers can choose raw account pricing, which costs $3.5 per lot per trade.

Low index CFD fees

All index CFD fees are built into the spread. The spread for S&P 500 index CFDs is 0.4.

Broker
S&P 500 CFD spread
Forex.com
0.4
FXCM
0.4
Oanda
0.3
Forex.com index CFD spreads and commissions

High stock CFD fees

The commission for stock CFD trading is the following: $0.018 per share; min $10.

Broker
Apple CFD
Forex.com
$10.1
FXCM
$1.2
Oanda
$0.1
Forex.com stock CFD spreads and commissions

Low inactivity fee, no withdrawal fee

It doesn't charge withdrawal or account fees, but you have to pay a $15 (or currency equivalent) monthly fee after one year of inactivity.
Here is what non-trading fees for non-US customers look like:

Broker
Inactivity fee
Withdrawal fee
Forex.com
$0
FXCM
$0
Oanda
$0
Forex.com inactivity, withdrawal and other fees

US and Canadian clients are charged a withdrawal fee if their withdrawal is under $10,000.

Forex.com withdrawal fees for US & Canada clients
United States Canada
International bank withdrawal $40 $40
Domestic bank withdrawal $25 $25
Bank card withdrawal $0* $0*

*There's a limit of $25,000 per withdrawal

Safety

Forex.com is regulated by many financial authorities, including the top-tier FCA. Its parent company, StoneX Group Inc, is listed on the NASDAQ stock exchange.
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Parent company listed on stock exchange
Read more

Deposit and withdrawal

Score: 4.4/5
Forex.com provides multiple deposit and withdrawal options, all free of charge. However, withdrawal is not possible with some credit cards.
  • Bank card available
  • Free withdrawal
  • No deposit fee
Read more

Account opening

Score: 4.4/5
Forex.com's account opening is seamless and fully digital, with a low minimum deposit. On the other hand, account verification takes around 2 business days, which is not the fastest on the market.
  • Fully digital
  • Low minimum deposit
  • User-friendly
Read more

Mobile app

Score: 4.5/5
Forex.com's mobile trading platform looks nice and is easy to use. The search function is also great. However, there is no two-step login.
  • User-friendly
  • Good search function
  • Good variety of order types
Read more

Desktop platform

Score: 3/5
Forex.com's desktop platform has the same functions as the web trading platform but lags behind in user-friendliness.
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Good variety of order types
Read more

Product selection

Score: 2.3/5
At Forex.com, you can only trade forex and CFDs. Other asset classes, like real stocks or funds, are not available.
Read more
“What you can trade on Forex.com’s platform is defined by where you are located. Clients outside the US can trade currencies (80+ pairs), some stocks and ETFs, commodities, cryptocurrencies, and precious metals in the form of CFDs. US customers can trade currencies on the Forex.com website, and open separate accounts with the site’s owners, StoneX, to trade stocks and futures. Forex.com’s services are best suited for high-volume currency traders. A major drawback for US customers is that it is possible for an account to go negative since there is no balance protection. While touring the website, I found quite a few typos and some error messages without a resolution, so it appears that maintenance is not currently a priority. Side note for Forex.com: they have very recently added stock trading capability for US customers via parent company StoneX, but it requires an entirely different account that is not integrated with the Forex.com account.”

FAQ

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Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

author image
Adam Nasli
Author of this review
I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.
Media mentions
Visit Forex.com 69-77% of retail CFD accounts lose money
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