Is Forex.com Scam? | Forex.com Safety and Reliability

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.

Is Forex.com Regulated?

The Forex.com broker is regulated by many financial authorities like:

• FCA: the FInancial Conduct Authority in the UK.
• CIMA: Cayman Islands Monetary Authority
• FSA: Financial Services Authority in Japan
• CFTC: Commodity Futures Trading Commission
• NFA: National Futures Association in the USA.
• IIROC: Investment Industry Regulatory Organization of Canada
• ASIC: Australian Services and Investments Commission

Is Forex.com a Scam?

Forex.com has over $5 billion of total customer assets in 2020. It also has a long track record since its foundation in 2001, NYC. It has survived different financial disasters since then. The parent company, StoneX Group is also listed on NASDAQ stock exchange to gain much safety.

Forex.com Awards

Since its foundation in 2001, Forex.com was awards like:

• 2021:
• Best Education in the Online Personal Wealth Awards
• Best Forex Platform in the ADVFN International Financial Awards
• 2020:
• Best Forex Trading Platform in the London Trader Show
• Best Forex Provider of the year in the London Trader Show
• Best CFD FX Provider in the Online Personal Wealth Awards
• Best Trading Analysis Provider in the Online Personal Wealth Awards
• Best Mobile Platform/App in the UK Leverage Trading Report Awards
• Best Brokerage (Forex) in the Benzinga Global Fintech Awards
• 2019:
• Best Forex Service Provider in the Shares Awards
• 2018:
• Best Forex Fundamental Analysis Provider in the UK Forex Awards

Client Protection

Forex.com has client protection amounts to protect its customers in case anything goes wrong as the table shows below.

Forex.com Legal Entities Table

Negative Balance Protection

Forex.com also has a negative balance protection for the EU customers to protect their account balances from going negative.

Two-step Verification

Forex.com provides a two-step verification method for safer login.

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. Does Forex.com allow bot trading?

• Yes, it does.

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 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 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.