Forex.com: One of the best Forex brokers
In the Forex market we find different types of brokers that are responsible for offering currency exchange services, some are more reliable than others due to their creation time or user opinions. Among this lot of brokers, many of them stand out and among them we have Forex.com, one of the best forex brokers.
Forex.com is one of the best Forex broker pioneers of the market and was founded in 2001; it is also regulated in several countries.
This is a global FX and CFD broker established in 2001. Its brand belongs to GAIN Capital, it is listed on the New York Stock Exchange.
This is a safe company that is regulated by various financial authorities, here is included the Financial Conduct Authority (FCA), which is a first level licensing company in the United Kingdom, on the other hand we also find that it is regulated by the Commodity Futures Trading Commission (CFTC) of the United States.
Forex.com has a long history and is therefore considered safe, and its parent company operates in the stock market.
Forex.com account types of the best forex broker
This is probably the best forex broker in the United States, and one of the reasons is because it offers two excellent and complete accounts that have everything an experienced and beginner trader needs.
On the one hand, we have the standard accounts, here you will find ultra competitive spreads but there are no commissions in the exchange operations.
As for the cost of trade, this becomes part of the differential.
On the other side we have a commission account; it offers the tightest currency spreads that you will find in the market.
This is an account that every good broker must own and is special for beginners in the market and also for people who want to take a look at the broker platform they are going to work with.
In a demo account there is no risk of losing any amount of money because virtual platform money is used in a live environment that will show you how it works and how it moves.
Being this considered one of the best brokers; we find that your demo account is excessively complete, descriptive and easy to use.
This account can be used for 30 days. The only thing against it is that it cannot be renewed.
Mobile app and its functionality of the best forex broker
This is one of the most complete applications provided by a broker.
As a mouth opener we have the fact that you can have access to all your personal account information. In addition, merchants can make various types of transactions, such as the withdrawal of funds or the investment deposit.
You can also view business history, create watch lists or even have full access to market news and view certain types of graphics. Its configuration is no more difficult than any app and that is which makes the task easier so you can configure it yourself.
However, there are only a limited number of common indicators that are available; among them we have RSI, MACD and also moving averages.
Platform and desktop functionality of the best forex broker
The Forex.com broker offers the MT4 platform so that the trader can carry out its operations, here you can have a complete and secure desktop experience, or you can also use the Forex.com platform.
Performing operations on Forex.com is quite simple, regardless of which platform you are going to use, either that of the registered trademark or that of MT4.
To trade you can do it even from the graphics by pressing the buy and sell buttons that appear at the top of the chart.
Here you can have access to economic calendars, graphics, news, view positions and history of operations, access commercial signals and also research reports.
How can I join the best forex broker Forex.com?
The process to open a story in this highly acclaimed broker, totally digital and simple, does not require more than a series of simple steps, which will take only about 15 minutes.
However, what may take you a little more time is the fact that your account is verified and authorized by the platform.
You must first choose if you want to use the MT4 platform or directly the Forex platform.
Next step, you must complete your financial and personal information, such as name, address and bank account.
Your prior knowledge is important, so you must answer a series of questions that have to do with your history in the market and also your previous knowledge of it.
Once the previous steps have been completed, you must verify your residence and of course your identity, not only for the security of the platform but also for the security of yourself and your capital. This will be done by uploading a driver’s license, passport or identification card that shows your name and is legal.
As for your residency test, a utility bill is enough.
Customers can have direct contact with the platform, either through online chat and also offer live telephone support.
Among other support materials that you can find on the platform that will help the trader as help, there are extensive frequently asked questions, as well as tutorials on their website. The opening hours are from 10 a.m. ET on Sunday at 5 p.m. ET Friday.
The online chat can be both for customers who are already registered and for potential customers.
In general it is a complete service that satisfies the need for help that a trader may need, doubts will be resolved.
Forex.com education, simply the best resource for forex brokers
The educational resources offered by Forex.com are extensive and complete.
Besides that there is not only content for new merchants but also for the most experienced. In your education section for the Forex trader you can find a questionnaire with which you can know what kind of trader it is.
Once you submit this questionnaire, all the information provided will be directed to your personality as a trader. You can also select material that is aimed at your level of knowledge.
Forex.com broker: Pros and cons of one of the best forex broker
Between the Forex.com pros we can find:
- Diverse technical research tools, with it you can guide yourself through the market.
- Great variety of currency pars
- Low forex fees
In the other hand there are the cons:
– There are not a lot of products to trade in the market, the portfolio is quite reduced.
- High stock CFD fees.
- The leverage of this platform is limited to 1:50, despite the fact that only a single state rule is also a kind of con for other traders. This does not mean that it stops being the best forex broker.
ESMA & FCA Risk Warning – “CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk”