No, FOREX.com is not a scam. It is regulated by six different organizations and a member of the National Futures Association. In comparison to other brokers , this makes it highly trustworthy and reputable. Additionally, its nearly 20-year history shows that the broker has positive intentions, as does its client protection policies.

Popular in Singapore

Points

Overall

Points

Commissions & Fees

Points

Licensing & Safety

Points

Platforms & Tools

Each broker we review is judged on the same 10 key areas. We include different instruments and holding positions overnight. We check not only the licenses the broker claims to have for different countries, but whether these licenses are up to date too. We look for specific features such as customizability and trading signals.

4,500+Number of instruments

Open Account

100,000+ Traders

Regulated by

FCA

ASIC

CIMA

IIROC

Overview
Fees and commissions
Safety
Opening an account
Account types
Trading Platforms
Markets and products
Research tools
Education and training
Customer support
Our verdict

FOREX.com review

Q: Is FOREX.com regulated?

Yes, FOREX.com is regulated by CIMA in the Cayman Islands, FCA in the UK, FSA in Japan, CFTC in the US, IIROC in Canada, and ASIC in Australia in the Cayman Islands. This vast regulatory infrastructure should provide you with confidence in the broker when opening an account.

Q: What is the minimum deposit at FOREX.com?

For customers using USD, the minimum deposit at FOREX.com is $100 for Standard and Commission accounts. If your account is in a different base currency, it becomes 100 units of that currency. This is relatively accessible, making FOREX.com a top rated forex broker for beginners.

Q: Does FOREX.com charge commissions?

FOREX.com charges commissions depending on your account type. Standard accounts have no commissions, and Commission accounts have commissions of $5 per 100k traded. If you qualify as an Active Trader, you will receive discounts. DMA accounts have tiered commissions of $20 to $60 per million USD based on trade volume.

Q: What FOREX.com account types are there?

FOREX.com offers three main account types, Standard, Commission, and DMA. Standard accounts have no commissions and only pay spreads. Commission accounts have tighter spreads and pay commissions. Direct Market Access (DMA) accounts have no spreads, but higher minimum requirements and commissions.

16 October 2020 - Kate Leaman

Our FOREX.com review team has carefully researched and evaluated the broker to confirm that it is highly reputable and well-regulated. FOREX.com is authorized by six different governing bodies and offers more than 4,500 instruments for trading. Since 2001, FOREX.com has been providing market access to clients around the world. This outstanding broker offers proprietary platforms and MetaTrader 5, as well as account types for all trading styles.

Offers more than 4,500 instruments
Delivers over 80 forex pairs and thousands of shares
Licensed and regulated by CIMA, FCA, FSA, CFTC, IIROC, and ASIC
Best broker for education, regardless of experience level
Certain traders feel share CFD fees may be high

FOREX.com overall scores

In this review, you can find all the information you need to decide whether FOREX.com is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how FOREX.com scored in each of our high-priority categories.

Commissions & Fees

94 Points

Payments

92 Points

Licensing & Safety

99 Points

Customer Service

93 Points

Trading Platforms & Tools

98 Points

Education

97 Points