2022 FOREX com Review Pros, Cons, Fees & More

That limitation is done with a purpose to limit potential losses, as high leverage may impose trades quickly in reverse as well. Thus, you and any trader should use leverage levels smartly and learn how to do it correctly for a particular instrument. Therefore, again concerning Forex.com review of global regulation and presence, the leverage ratios will vary according to the trader’s residence, as well as under which authorization account is open. We can also suggest you read about ASIC and IIROC regulated broker Fortrade. Our reviewers, editors, and production team are all investors ourselves with our own accounts. We apply this passion, experience, and insight into every single review to bring you the best possible experience. Opening a new investment account should be less painful than a trip to the dentist – sorry dentists.

• This allows traders with a balance of at least $10,000 in their account to receive a cash rebate on their traded volume.
• For research, the most important factors are access to a wide breadth of timely information.
• Editorial independence is critical in an objective review process and remains a key element in ensuring you get a positive, well-rounded experience.
• Stop – A pending order where the entry is at a predetermined point above or below the prevailing market rate depending on whether it’s a buy or sell.
• Advanced platforms, typically via desktop, may offer algorithmic trading capabilities, and we take this into account.
• MetaTrader 5 is also available for FOREX.com traders — however, only certain assets can be traded on it, and it is not available in the U.S.

Best of all, each of the FOREX.com courses is totally free — you don’t even need to be logged into your account to begin learning. You may be able to access spreads as low as 0.2 in a Commission account, while minimum spreads in Standard accounts are around the 1.0 mark, depending on the currency pair. Most stock traders will be familiar with a commission structure, and comparing dealing spreads https://www.buildersgrid.com/new-york/business-services/dotbig-reviews is a common way to assess pricing among forex brokers. Mastering a platform can be a hurdle for new traders, so we pay careful attention to the quality of the platform design and how easy it is to use. The order types within a trading platform determine the flexibility you have for placing trades. We measure the available order types, from standard to advanced (trailing stop-loss orders).

Review Methodology

Brokers are asked to complete a form listing important details about platform, pricing, product offerings and additional features which is used in completing reviews when available. We look for a number of popular platform features, including 1-click trading, Forex trading from the chart, watchlists, and the ability to set price alerts. Some of these, such as 1-click trading, may be essential if you are a day trader or scalper. We open accounts with each broker and download all available platforms for testing.

I love the service of Blueberry, their customer service is very good, I could contact customer support whenever and dotbig website there is someone reply to me immediately. I recommend BlueberryMarkets for those looking for a regulated broker.

Here is a quick glossary to help you with some terms used in our review:

Forex.com offers a 30-day time-limited demo account, does not allow multiple ones, and traders cannot request extensions to this time limit. Traders may choose from three account types at Forex.com, but one requires higher deposits. I recommend traders carefully consider trading costs at each account, as the difference makes a notable impact on profitability. FOREX.com focuses on currencies, so it dotbig.com review makes no effort to be a trader’s 1-stop-shop for every investing need, although the broker does provide trading in spot gold and silver, as well as futures and options. Even if you do open a FOREX.com account to speculate in the forex market, you should also open another account with a stockbroker to invest for your retirement. Prefer to get the classroom experience when you learn how to trade?

We also ensure all reviews are published without moderation. We use dedicated people and clever technology to safeguard our platform. We are disappointed you have not had a good experience with FOREX.com. Usually the volume is too low to hear rep. Many times the voice fades to nothing. After 1hr on hold no one ever answered in customer support.