Forex.com Pros & Cons | Get Information at a Glance

Introduction

Forex.com is a forex and CFD broker that’s originally owned by StoneX Group. It’s founded in 2001 in New York, USA. and have customers from over 140 countries around the world. Forex.com is also regulated by top-tier financial authorities, including FCA, the Financial Conduct Authority in the UK. The broker has over 4,500 trading instruments including forex, CFDs and commodities. With a minimum deposit of $100, Forex.com becomes one of the best choices to start trading with.

In this article we’re addressing the main pros and cons of Forex.com in each broker aspect.

FAQs

1. How long does it take to verify my account?

• It takes about 1 to 2 business days to verify your Forex.com account.

1. Can I open more than one trading account?

• Yes. If you already have an account of one type, you can open a new account of the other type (i.e., standard and commission accounts.)

1. Does Forex.com allow bot trading?

• Yes, it does.

1. Does Forex.com give a bonus?

• Yes, Forex.com offers a welcome %20 bonus of the first deposited amount up to $5,000 in the first 14 days.

1. Does Forex.com allow scalping?

• Yes we allow scalping but if you are going to request a lot of quotes and not act on them the system will put you on the bottom of the list and you will receive lesser priority.

1. Does Forex.com allow hedging?

• Since it is regulated by the NFA, you cannot use this broker to take on hedging positions in the same trading account if you are based in the U.S.

1. Where is my money held?

• Your money is held with top-tier banks and Forex.com ensures that your money remains segregated from the assets of the bank

1. Does Forex.com offer a swap-free account option?

• es, FOREX.com offers swap-free accounts in certain circumstances.

1. How do I login using the MT4 mobile platform?

• Steps:

1. Go to ‘Settings’

2. Click on ‘Manage Accounts’ or ‘Settings’

3. Then click on the small plus sign or select ‘New Account’

4. Then select ‘Log in to an existing account’

5. Search for the broker name

6. Select the server your account was set up on

7. Enter your login credentials and password

8. Click on ‘Sign In’

1. When will my demo account expire?

• After 30 days.

1. Can I login to more than one account from the same computer?

• Yes, you can do such a thing by using the MT4 Multi Terminal.

1. Can I login to the same account through different devices?

• Yes, you can login to the MetaTrader 4 platform using the same password and username through different devices.

1. Does Forex.com accept payments from third parties?

• No, as the name(s) on the FOREX.com trading account must be an exact match with the name(s) on the account of the other financial institution.

1. Can I renew my demo account after its expiration?

• Unfortunately, no.

1. How can I fund my account?

• You can easily fund your account by logging in to MyAccount and visiting the Funding page.

1. My verification documents are not in English. Will this be a problem?

• FOREX.com has staff available to translate documents from many languages.

1. For a joint account, do I need documentation for both account holders?

• Yes, both account holders must provide a government-issued photo ID when we aren’t able to electronically verify their ID. Documentation for proof of address also must be verified for both applicants.

1. Can I convert my Standard Account to a Commission Account, or vise versa?

• No, account types cannot be converted to the other pricing model. If you already have an account of one type, you can open a new account of the other type.

1. Is there a commission demo account available?

• No.

1. Can I fund with a personal check or business check?

• Unfortunately, Forex.com does not accept checks as a funding method at this time.

1. Does FOREX.com accept Western Union or PayPal?

• No, it doesn’t.

1. How are metals traded?

• Gold and silver are traded as spot while copper, palladium and platinum are traded as CFD futures.

1. Can I trade cryptocurrencies on the MetaTrader trading platforms?

• At this time, cryptocurrency trading is available on the MetaTrader 5 platform, but not the MetaTrader 4 trading platform.

1. Does FOREX.com’s desktop platform support backtesting?

• Yes, you can backtest strategies in the FOREX.com desktop platform using its Development Studio.

1. How much does it cost to have the Performance Analytics tool?

• There is no additional cost to use Performance Analytics.

1. If I have multiple accounts, will it show all my accounts aggregated or will I need to login to each account to access Performance Analytics for that account?

• You will need to log in to each account to access Performance Analytics for that account.

1. Can my balance go negative?

• While Forex.com’s margin requirements, closeout levels and real-time margin system are designed to limit your trading losses, you do risk incurring losses greater than your account balance, especially during periods of extreme market volatility.

1. What’s Active Trader?

• This is a Forex.com program in which you apply for if you want to trade in high volumes without any additional fees. You can automatically be qualified for Active Trader when you open an account with a minimum $10,000 or trade $25M of volume in a calendar month.

If you want more information, please check out Forex.com Full Review.