Forex.com review, all you need to know
Forex refers to the exchange of one currency for another to make a profit. While the risk is high, the potential to make a decent income is as good.
What is more, the Forex market is one of the most active and liquid in the world. It’s open 5 and a half days a week, 24 hours a day. There is always something going on in this market.
Traders need to learn about spreads, leverage, and margin if they want to make it work and reduce losses. However, the learning curve can be done using a demo account and Forex.com offers one that traders can experiment with.
A demo account is the best chance to start learning how the market reacts to certain movements, as well as start creating your own personalized forex strategy.
It is also a good opportunity for newer traders to become familiar with the terms related to Forex, and how things work in general.
If traders want to learn more or make sure the broker they are choosing offers a good demo account, they can visit InvestinGoal, a financial site dedicated to helping traders in their search for the perfect broker, as well as helping them in the path of becoming expert online traders.
All you want to know about Forex.com
Forex.com was founded in 2001 in Europe. Nowadays, they have two main offices, one in the UK, one in the US.
Forex.com is an international broker and as such has to be regulated by different entities. For Forex.com to provide its services in the US, they have to satisfy very strict standards. In the same way, they have an international registration and they are also regulated in Australia.
What does it all mean? Well, all these regulatory bodies overseeing the brokers’ activity in the market, also provide safety to the traders’ information and their money.
Each country has its own rules, and while Forex.com offers an interesting feature called “negative balance protection”, which stops people from losing more than what they have deposit, this option is not available to US residents.
Today, Forex.com is available for clients of over 150 countries. However, due to certain national restrictions, countries like Belgium or New Zealand are not among the ones that can use Forex.com.
The best of Forex.com
One of the most interesting aspects that represent a benefit is that Forex.com is regulated in the US, meaning it’s available to American residents. Since in America the regulations are very strict, this shows how serious and reputable this broker is.
Another advantage of Forex.com is that they offer fix spreads and also variable spreads. And with a small initial deposit of only 50 dollars, Forex.com is, actually, a quite accessible broker.
The truth is that Forex.com is among the most costly brokers, considering their fees. And while their service is of quality, they offer only three currencies: dollars, euros, and pounds.
If these aspects do not mean a priority for a trader, Forex.com is a very good option to get started online trading today.
All in all
Forex.com is a reliable broker with a strong reputation. They are available in the US and Canada, have been registered with regulatory bodies around the world, and have won several awards.
They also offer interesting options when it comes to spreads, and while they only offer a limited number of currency pairs, they make Forex trading easy and accessible, especially thanks to their very low minimum deposit.
What is more, they offer a variety of ways to contact them, and while their customer service is only in English and Chinese, they are quite reliable.