Forex.com Review: Is this broker legit, safe and trustworthy for UAE citizens and residents?
Forex.com - Google ranks them in the top 10 for the term "forex". They're owned by StoneX, a big multinational trading firm that deals with institutional clients. Overall, they're OK.
Yes, this broker's official website and app are legit, safe and trustworthy for UAE citizens and residents.
Forex.com has decent reviews on Reddit and Quora, including satisfactory ratings on sites like Trustpilot. Thus, overall this broker is considered reliable for online trading of currencies, cryptocurrencies, CFDs and stocks.
Forex.com is a multinational FX and CFD broker founded in 2001. NASDAQ-listed
StoneX Group Inc. owns the Forex.com trademark. StoneX Financial Ltd. owns the
StoneX Group Inc. parent business. The FCA, the UK's main financial watchdog,
and the Commodity Futures Trading Commission, the US's equivalent, oversee the
Because of its extensive track record, top-tier financial authority regulation, and stock exchange listing, Forex.com is deemed safe.
Forex.com gives everything you need for forex trading: inexpensive forex costs, multiple currency pairings and tonnes of technical analysis tools.
However, it is devoid of well-known asset types like genuine stocks and bonds. Stock CFD costs are exorbitant, and the desktop trading software is not user-friendly.
Currency.com features cheap costs for forex trading and there is no withdrawal charge. On the other side, stock CFD costs are hefty and there is an inactivity charge.
We ranked Forex.com's fee levels as low, average or high based on how they compare to those of all reviewed brokers.
To begin, here are a few definitions for terminology connected to broker commissions. What you need to keep an eye on are trading costs and non-trading expenses.
Trading costs arise when you trade. Commissions, spreads, interest rates, and fees for currency translation are examples of these costs.
For example, withdrawal fees and inactivity costs are examples of non-trading fees.
Trading costs for forex brokers may be difficult to compare, as you may be aware. So, what strategy did we use to make their fees crystal clear and comparable? We compare brokers by calculating all the fees of a typical transaction for chosen items.
In a normal transaction, you acquire a leveraged product and hold it for one week before selling it. For the volume, we picked a $20,000 position for FX and a $2,000 stake for stock index and stock CFD trades.
All brokers' spreads, commissions, and financing expenses are included in this all-inclusive benchmark prices. Let's see how Forex.com's fees fare in the end.
Forex.com has generally average CFD trading fees. The costs of trading stock index CFDs are cheap, compared to the costs of trading stocks.
Forex.com forex costs are cheap, below those of its nearest rivals. Fees for stock index CFDs are included in the spreads, while commissions are payable for stock CFDs.
A spread is a difference between the buy price and the sell price. OTC products like forex and CFDs allow your broker to choose the spread. Wider spreads mean more expensive trading.
Long-term holdings of leveraged positions are subject to a rollover or financing rate. Forex.com rollover rates are low.
Forex.com's non-trading fees are average overall. It doesn't charge withdrawal or account fees, but you have to pay a $15 (or currency equivalent) monthly fee after one year of inactivity.
Forex.com's account opening is seamless and fully digital, with a low minimum deposit. On the other hand, account verification takes around 2 business days, which is not the fastest on the market.
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Forex.com accepts customers from most countries, including the US. Notable exceptions include Hong Kong and New Zealand.
The required Forex.com minimum deposit is $100. This is a low amount as there are other brokers that require a minimum of $2,000 or more.
Forex.com provides three account types, which differ in their pricing structure and in the trading platforms available.
Forex.com has a straightforward and fully digital account opening process. Online registration takes only 10-15 minutes. Our account was verified in 2 business days, which is a bit slower than at some other brokers.
It takes four steps to open a Forex.com account:
Choose whether you want to use Forex.com's own trading platform or MetaTrader 4, a third-party trading platform.
- Fill in your personal and financial information.
- Answer a couple of questions relating to your financial knowledge and trading history.
- Verify your identity and residency. You can upload a national ID card, passport or driver's licence to verify your identity. Utility bills and bank statements are accepted as proof of residency.
We ran into some problems during account verification. Forex.com rejected the uploaded proof of residency but did not tell us the reason. We believe they should give more information when something goes wrong.
Forex.com offers a free $10 000 demo forex trading account with no risk and no obligation.
Forex.com provides STP and DMA accounts.
Forex.com provides multiple deposit and withdrawal options, all free of charge. However, withdrawal is not possible with some credit cards.
Forex.com charges no deposit fees. Besides bank transfer, you can use credit/debit cards and PayPal for depositing funds.
A bank transfer can take several business days, while payment with a credit/debit card is instant. You can only deposit money from accounts that are in your name.
Withdrawal at Forex.com is free of charge. Methods for withdrawal are the same as for deposits.
How long does it take to withdraw money from Forex.com? Bank transfers can take 2-3 business days, while credit/debit card withdrawal can take longer, up to 5 business days.
When we tested withdrawal, it took several weeks because we had a problem with credit card withdrawal. The reason for the problem was that Forex.com can't send money to some MasterCard and Visa credit cards. Instead of credit cards, we had to withdraw via bank transfer, but before doing so, customer service had to add and approve our bank account. It would be great to know in advance which cards are accepted for withdrawal and which are not.
Forex.com's web trading platform is user-friendly and extremely customizable, with lots of order types. On the negative side, there is no two-step login.
Forex.com has two web trading platforms, Web Trader and MetaTrader 4. We tested Web Trader because it is Forex.com's own platform, while MetaTrader 4 is provided by a third party.
Web Trader is available only in English.
Forex.com's web trading platform is user-friendly and looks great.
It is incredibly configurable. You may quickly add, delete, or modify the size and location of tabs to design your own customised trading platform. In addition, you may choose between a bright or dark theme and "one-click" or "two-click" trading modes.
Forex.com gives simply a one-step login. It's safer to use two-factor authentication in this case.
The online trading platform provides strong search features. To find a certain item, you may use the search bar and type in the name of the item or browse a list of products organised by category.
You may utilise several order kinds, including some more advanced ones.
When an asset's price objective is reached, you'll get an alert. You also receive a notice when your orders become fulfilled. This is a push notification, accessible on both web and mobile devices. It is simple to establish the alerts and notifications.
Forex.com features transparent portfolio and fee reports. You may locate them under the 'Reports' page and download them in PDF, XLS, XML and CSV.
The mobile trading interface of Forex.com is well-designed and simple to use. The search tool is also fantastic. However, there is no two-step login.
Similarly to the online trading platform, Forex.com has two mobile trading platforms: Forex.com's own and MetaTrader 4's mobile trading platform. Both trading systems are accessible on iOS and Android. For the purposes of our evaluation, we used an iOS device to access the Forex.com trading interface.
The Forex.com mobile app is user-friendly and professionally designed. However, features were occasionally rather sluggish to load.
Logging in to Forex.com requires merely a single step.
You may log in using biometric authentication, which is a helpful function.
The search functions are excellent. Browse product categories or type in the asset's name to do a search.
Forex.com's desktop client includes the same features as the online trading platform but falls behind in user-friendliness.
The Advanced Trading Platform and MetaTrader 4 are the two desktop platforms offered by Forex.com. Once again, we tried the Advanced Trading Platform since this is Forex.com's own platform, whereas MetaTrader 4 is a third-party platform.
The desktop trading interface of Forex.com is identical to the online trading platform in terms of functionality. Order types and price alerts, for example, may be reused.
The desktop trading interface, on the other hand, is less user-friendly and seems obsolete. Getting around the platform was a challenge because of how crowded it was with options.
At Forex.com, you can only trade forex, CFDs and cryptos. Other asset types, such genuine stocks or funds, are not accessible.
Forex.com is a forex broker that also provides certain CFDs.
There are several currency pairings and cryptocurrencies available on Forex.com. The stock, stock index, ETF, and commodities CFD options are also fantastic. If you are covered by more than one Forex.com organisation, the amount of items you may choose from varies greatly.
Leverage allows traders to 'borrow' funds in order to obtain a wider exposure to the forex market. With a small quantity of cash, larger trading sizes may be regulated.
Only major currency pairings may be leveraged up to 30:1 in the EU, according to ESMA rules.
According to the The Commodity Futures Trading Commission (CFTC) the maximum leverage in the United States is 50:1 for major currency pairings and 20:1 for all others.
Therefore Forex.com leverage is maximimized at 50:1.
Opening a leveraged transaction requires a certain amount of money, which is known as margin. It operates as a deposit, you just need to pay a portion of the whole value of the position. A margin rate of 3.3 percent may alternatively be referred to as a leverage ratio of 30:1.
A wide range of research tools are available at Forex.com. It includes strong charting tools, trading suggestions based on technical analysis, and high-quality market reports. In contrast, there is a paucity of key facts in this report.
It's possible to obtain research tools at Forex.com by looking under the heading "Market Analysis" on its trading platforms or website.
Technical analysis is used by Forex.com to generate trading strategies. You may find them on the platform if you click 'Trading Central'.
Forex.com does not supply any basic data.
Forex.com features superb charting tools. You can quickly modify and save your charts. Indicators like Fibonacci retracement and trendlines are among the various tools available to traders.
The trading apps at Forex.com include a news feed.
It also includes an economic calendar, which covers impending macro events. When you choose an event, you may get a quick summary and verify historical statistics.
You may also read market analysis published by Forex.com's research staff. You may find these articles under the 'Market Analysis' tab. We loved how news stories may be sorted based on several criteria.
Forex.com gives Margin & Pip Calculator. 1 standard lot equates to 100,000 units of the base currency in a forex deal.
The telephone support at Forex.com is excellent. It's a little difficult to locate live chat, but when you do, the replies are helpful and timely. One drawback is the long response time to emails from support staff.
We were incredibly impressed with Forex.com's phone help. They were quick to pick up the phone and provided us with helpful information.
Click 'Chat' if you'd rather talk to someone right now. It launches a chatbot, but it can only answer the most basic of inquiries, such as "How do I make a deposit?" If you want to speak with an actual person, things become a little more complicated. You have to input 'agent', following which the chatbot offers to connect you with a sales or support representative.
The automated response we received while emailing Forex.com said that responses might take up to four days, but we ultimately obtained relevant responses within a day.
Forex.com's customer care is not entirely 24/7, yet it is accessible 24 hours a day from Sunday through Friday.
Forex.com performs an excellent job in teaching, giving numerous options to learn.
We loved the quality and organisation of the videos. You may select from numerous areas, such basic analysis or risk management.
The quiz and trading glossary are unique instructional aids. They were a lot of fun, and we learned a lot from them.
You may get a better understanding of your trading style by using the performance statistics tool. It delivers insights based on your trading history from three angles: psychology, strategy and timing.
Forex.com also delivers webinars, which is a terrific venue for questioning trade specialists directly.
Regulated by the FCA and other top-tier financial regulators, you can trade with confidence on Forex.com. Its parent firm, StoneX Group Inc is listed on the NASDAQ Stock Exchange.
Is Forex.com subject to any kind of regulation? In the United States, the Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA) are the primary regulatory bodies overseeing the futures market.
Depending on where you live, several legal entities of Forex.com are in operation. Which of these will best suit your needs depends on where you live. The investor protection amount you're qualified for depends on the nation where the organisation servicing you is situated.
For example, if you are from the UK, you will join up with StoneX Financial Ltd and will be entitled for investment protection of £85,000. The Financial Conduct Authority (FCA) of the United Kingdom oversees StoneX Financial Ltd.
Forex.com offers negative balance protection for customers belonging to StoneX Financial Ltd and StoneX Europe Ltd. for forex spot and CFD trading, but exclusively for retail clients from the United Kingdom and the European Union. Professional and non-UK/non-EU customers are not protected with any negative balance protection.
StoneX Group, an investment firm located in the United States, owns the Forex.com name. In 2020, StoneX Group purchased the parent firm of Forex.com, GAIN Capital. Having a solid parent business is critical, since it reduces the likelihood of a firm going bankrupt.
StoneX Group is also listed on the NASDAQ Stock Exchange. This is a huge bonus for safety since Forex.com discloses financial statements frequently and in a transparent way.
Forex.com was created in 2001. When a broker has been in business for a long time, it is more likely to have survived prior financial crises.
Having a parent firm registered on a stock exchange, issuing financial statements and being regulated by top-tier authorities are all wonderful indicators of Forex.com’s safety.
The FCA in the UK and the CFTC in the US both regulate Forex.com as a forex and CFD broker.
The good news is that it features inexpensive forex costs, a wide range of currency pairings to choose from, and a wealth of useful research resources.
Despite this, there are certain disadvantages. Popular assets like genuine stocks or bonds are not accessible. Stock CFD costs are rather costly, and the desktop application is not straightforward to use.
As long as you don't stop trading for more than a year, you won't be charged an inactivity fee.
There is a long history of investors prospering on the performances of stock indexes. However, trading has inherent limits since the stock market is less liquid and runs for restricted hours. The present economic volatility has prompted investors to explore for better options. So when international commerce rises in prominence and currency values fluctuate, investors explored chances in forex trading.
In the forex market, investors trade a broad array of currency pairings. By betting on price swings triggered by global events and the health of various countries, investors may receive greater value for their money. Furthermore, since the FX market is open around the clock, investors may use short-selling tactics to trade on margin. Soon, forex became the favourite trading alternative among investors. Readout our forex.com review to discover more about the platform and to comprehend its features & costs.
To take advantage of market volatility and create profits via automated trading, OREX.com has established itself as one of the top forex brokers in the business. The investor's ability to continuously watch and trade in accordance with the high number of currency exchanges that occur on the forex markets is severely limited. As a result, investors may turn to a registered broker like FOREX.com for help with their trading.
FOREX.com has risen to prominence as a top online broker because to its robust security measures, lightning-fast trade execution, and cheap spreads. After hearing so much about it, we couldn't help but do a forex.com review of our own. The information in this Forex.com review includes everything you need to know before you begin trading with this broker. We've discussed the advantages and drawbacks of each feature, as well as customer service and regulatory issues. Considering the high risk involved with trading, we hope that this in-depth forex trading review will prove to be a beacon for you.
Beginners and high-volume traders alike may benefit from FOREX.com's user-friendly interface. It enables investors to trade a broad variety of assets in key worldwide marketplaces using order types. Trading choices include foreign currencies, contracts for differences (CFDs), commodities, equities, exchange-traded funds, initial public offerings, cryptocurrencies, precious metals, and futures.
Using the FOREX.com trading platform, traders may trade more over 80 basic currency pairings with competitive spreads through its web-based platform or MetaTrader 4 (MT4) platform or mobile app. For this reason, we recommend that they use a forex trader review and use care while trading to prevent the substantial chance of losing their money.
While studying the legitimacy of the FOREX.com platform and evaluating the FOREX.com review, we got to know that the broker is well-regulated by major financial agencies of the US, the UK, Japan, Canada, Singapore, Australia, and the Cayman Islands. Some of the most significant regulators of FOREX.com are the US Commodity Futures Trading Commission, the UK Financial Conduct Authority, and the Cayman Islands Monetary Authority.
Trading on the FOREX.com platform is popular with investors from all around the globe. The broker has built a solid reputation for safeguarding client funds by keeping liquidity beyond the required minimum capital levels.
FOREX.com trading platform provides a straightforward pricing scheme. It charges no fees for making deposits or withdrawals. After a year of inactivity, traders with balances under $10,000 may be required to pay a penalty of $15 per month.
To make a profit, the broker uses spreads such as fixed and variable. The fixed spreads are unaffected by market volatility or liquidity. The variable spreads, on the other hand, are proportionate to the demand for a currency pair. Please note that the broker charges a varied spread and fee for various base currency pairings.
FOREX.com provides a straightforward, quick, and entirely digital registration procedure for clients in over 180 countries from around North America, Europe, and the Asia Pacific. To begin with, you need to make a minimum initial investment of $50. The account maintenance is made easy with its straightforward deposit and withdrawal methods.
There are three major methods to possess a FOREX.com account: individually; jointly; and jointly and as a corporation. Based on their cost and availability with the platform, there are three account kinds to select from.
If you're using the MT4 platform, you'll only have access to the ordinary account. This account provides various advantages, such as greater competitive spreads, quicker trades, and 0% commission. It is the greatest solution for beginner traders who wish to leverage market-maker execution and bigger spreads.
FOREX.com's exclusive software is the sole way to access the commission account. This account provides decreased spreads and levies a fee of $5 every 100K transacted. It is a better alternative for medium to high volume and skilled traders who seek to profit from FOREX.com’s Active Trader programme.
MT4 STP Account: MT4 STP accounts may be found on Forex.com as well. A high-volume FX trader who wants complete control over their account should use this one. With a balance of $25,000, but does not offer access to the Active Trader programme.
FOREX.com also provides a demo account to enable new traders get a feel for trading and the platform without putting their own money at risk. The demo account is free of charge and may be used with virtual money.
FOREX.com’s Active Trader Program is accessible for traders with $25,000 or more in the account or making $25 million transactions per month. High-volume traders may obtain up to 15% cash rebates and other special advantages with this programme.
For our FOREXcom review, we examined the broker across all devices. In our research, we discovered that some trading platforms allow both novice and experienced traders to trade with ease. With diverse alternatives, FOREX.com is in the forefront of serving all sorts of traders with their trading requirements. Examine the characteristics and capabilities of these platforms in further detail.
Experienced traders will find that the Advanced Trading Platform is the most user-friendly and customisable tool for leveraging the forex market. Automated trading methods may be built using a variety of systems that provide real-time transaction updates. In addition, Trading Central and its modules, such as Technical Insight, Market Buzz, and Analyst Views, support this strategy as outlined above.
Web-Based Trading Platform: FOREX.com’s simple to use web-based trading platform is intended for personal and laptop computers. For both new and experienced traders, the platform's abundance of features makes analysing trading patterns and making trades simpler than ever before.
Our experience with it has shown that it is well-equipped with analytical and trading tools such as calendars and charts for the financial markets as well as tools to gauge the mood of the markets and the latest news on the stock market. To supplement this, you may use third-party resources like as analyst reports, market research, and trade signals to better plan your trades.
MetaTrader is a third-party platform for trading with FOREX.com and comes in two editions – MT4 and MT5. They are only different in that trading instruments are not readily available in both places. High-end automated trading technologies are integrated into the MetaTrader platform at the industry level. In our forex.com evaluation, the software functioned well.
Trading is not limited to computers only as FOREX.com offers its full-featured app for Android and iOS users. Testing the app revealed that it is just as effective in its intended purpose as the web-based platform it replaces. Profit from trading by limiting losses and maximising earnings with its user-friendly interface, which lets you utilise technical indicators to conduct trades.
Trade notifications and fund and risk management choices are two other notable aspects of the programme. However, the app's charting tool is in need of improvement.
To begin trading on FOREX.com, you must first fund your account. FOREX.com provides several deposit alternatives and demands a comparatively minimal commitment of $50 after setting up the account. However, the broker suggests depositing $2,500 to access a broad selection of trading products and have greater risk management.
Instant deposits may be done using a credit card, a debit card, or a wire transfer, such as PayPal. Deposits are instantaneous. Remember, the site charges no fees on deposit.
Trading with FOREX.com is possible 24 hours a day, 7 days a week, however the instruments available depend on the jurisdiction in which you reside. FOREX.com provides a large assortment of assets. Forex, CFDs, commodities, indices, cryptocurrencies, and precious metals like gold and silver may all be traded. With over 80 currency pairings, you have the opportunity to trade with six base currencies — USD, EUR, GBP, AUD, JPY, and CHF.
The platform we used indicated that the trade margin requirements differed depending on the trader, account type, and trading instrument. Trading in equities comes without stop-specific risk, while in commodities with zero commission and one percent margin. Spreads that are both fixed and competitive, as well as low margins, set it apart from the competition.
Due to the ability to trade an array of assets under one roof, investors have an excellent chance of increasing their net worth and diversifying their investment portfolios.
Traders prefer to increase their profits by utilising leverage and margin trading. It's understandable that FOREX.com would enable traders to make good use of these tools given the moderate pace of price fluctuation. Forex.com's website provides a margin calculator that traders may use depending on where they are, what sort of account they have, and what they are doing.
Having said that, we encourage you to trade with prudence to prevent incurring significant losses in money. To safeguard traders from incurring possible losses, FOREX.com has limited leverage in some countries while easing it in the others.
We were happy to learn that FOREX.com provides a variety of withdrawal alternatives, just as they do for deposits. Credit or debit cards or bank transfers are all acceptable methods of payment for cash withdrawals. Usually, the withdrawals take 2-3 business days to reflect into your bank account, in our case it was within 48 hours. FOREX.com does not charge a fee for withdrawals, although there is a $100 minimum.
As said before, forex trading is a little technical and hard, thus it demands you to have a complete grasp of it before you pick a broker. FOREX.com is the best location to start trading forex if you've never done it before.
The website includes a broad and diversified study resource about the forex market under its ‘Market Analysis’ section. You may keep yourself informed with technical analysis reports offered by the third-party service Trading Central. You may compare the best forex brokers in the UK here and learn more in the following paragraphs, we will be discussing them in depth.
FOREX.com combines an innovative tool called as Autochartist that performs
several charting operations. From spotting trade patterns to assessing
volatility, Autochartist offers traders with vital trading information. Not only
this but also you get to learn about fresh trading ideas with the aid of
excellent forex signals and technical indicators.
Market Buzz: This is another noteworthy feature of FOREX.com that uses artificial intelligence to provide traders with essential market sentiment and economic indicators.
To be successful in trading, it is essential to be abreast of recent market developments. We looked through its extensive news feed and discovered that it includes market analysis stories from a variety of sources, including Reuters.
The economic calendar on FOREX.com is a valuable resource. With its news timeline and macroeconomic timeline settings, you can keep organised.
You may learn a lot about trading by listening to the advice of a professional. This part of FOREX.com includes advice and market reports based on experts’ research of the market. Furthermore, you may utilise its margin calculator and charting tools to conduct a trade. To summarise, FOREX.com's 'Market Analysis' feature is simple to use and a valuable resource for traders who are unfamiliar with the market.
FOREX.com offers a dedicated ‘Education’ area, where you can discover an excellent assortment of interactive trading classes and other instructional programmes tailored for all kinds of traders. These courses are grouped into three categories depending on the trader’s skill level – beginner, intermediate, and advanced, which give essential information in the form of articles, charts, and videos.
Our examination of these courses reveals that it is the finest instrument for both novices and pros to acquire confidence in trading. All of these classes are open to the public and need no registration. Digging deep into the ‘Education’ area lead us to several excellent resources that we have mentioned below.
FOREX.com’s YouTube channel includes training films on relevant subjects like forex fundamentals, market analysis, and risk management. These videos are a terrific approach to strengthen your trading comprehension and make changes.
FOREX.com routinely updates its website with high-quality content on a number of themes that may be of great assistance when establishing trading strategies.
These are interesting features under this area that enables you to educate yourself with jargons used in trading and test your knowledge.
Traders can more easily access FOREX.com thanks to the platform's extra features, such as in-depth research and instructional materials.
Traders may take use of its self-study course ‘Learn to Trade Forex’ to learn how to execute trades utilising pip calculators, margin trading, advanced charting, and many more.
The ‘Smart Tickets’ function helps traders to control excessive risk by cancelling deals depending on market circumstances.
Trade with Precision routinely offers the 'Foundations of Forex Trading' webinar series.
FOREX.com is a fully regulated and licenced online broker that outclasses other brokers on several grounds.
Over eighty different currency pairings are available to traders.
Supports a restricted number of currencies, reducing the potential for profit or increasing the risk of loss.
Provides numerous trading platforms including mobile app
Its research and teaching materials provide traders with useful trading insights.
The ability to trade on one's own requires considerable competence.
Offers thorough technical reports, charts, and over 90 technical indicators for novices.
Has earned the ‘Best Broker in the USA’ title.
As a trader, you need to be confident of asset security. GAIN Capital Holdings, the parent company of the broker, has over $1 billion in assets under management, therefore it is regarded as a reliable forex trading platform. From our FOREX.com review, we can claim that your funds are secure with the broker for various reasons.
Firstly, it is listed on the New York Stock Exchange, which makes it a trustworthy trading platform. This is followed by rules that ensure client money is protected in times of economic uncertainty. The broker holds money in a network of banks, which precludes its abuse. Lastly, its worldwide liquidity strategy operates as an external revolving credit facility.
The broker has a worldwide reach and adheres to stringent regulatory requirements to ensure the protection of customer information and assets. Therefore, it is obligated to give traders a safe trading environment and promote secure online transactions.
From what we've learned so far, it's one of the finest places to invest and exchange money in order to make money. There are many benefits of trading with FOREX.com compared to other brokers.
Traders may reach FOREX.com's live chat customer care Monday through Friday from 8 a.m. to 5 p.m. EST. If you need assistance with a technical problem or a business-related question, you may contact them via phone, live chat, or email. Also, its website provides lessons and manuals as well as a FAQ area to give traders with important information.
We attempted to call customer support to assess their response rate. Because it's a machine, the live chat feature only works for a restricted set of questions. So, we wrote them an email with additional comprehensive inquiries. However, after a wait of three business days, we never received a response. Finally, we went on to contact them over the phone and received a rapid reply with pertinent answers to our inquiries.
Overall, based on our FOREX.com review, customer service is decent compared to other brokers, although we advise you call them over the phone if you want rapid responses.
FOREX.com is an outstanding forex and CFD broker with a lot to offer. Using it, you'll be able to trade on all the main financial markets online. We studied every facet of the site merely to realise that it provides something for all sorts of traders. From including an instructional area for beginner traders to giving technical analysis reports for high-volume traders, FOREX.com is the most helpful alternative to trade with from our forex trading review.
Since it is a sophisticated platform, we were impressed by its access to a range of products and derivatives, minimal forex costs, and reliable transaction execution. Other aspects that are worth examining include sophisticated trading tools, competitive spreads, and cheaper fees, numerous account kinds, several automated trading platforms, and research and instructional resources. Because it is overseen by world-renowned regulatory authorities, you may be certain that it is legitimate and safe to use.
To conclude our results with forex.com review, we might claim that FOREX.com is well recognised by active traders to sustain profitable trading. For the most part, trading on FOREX.com was a positive experience, and we came out ahead. As a result, FOREX.com is the only online broker you need to consider if you want to trade with confidence and make a tidy profit. You may also check Forex.com reviews, before you start trading with it.
How dependable is FOREX.com? Yes. FOREX.com is a reputable online broker that complies with regulatory regulations in more than 180 countries.
How to deposit at FOREX.com? Depositing money at FOREX.com is a breeze. You need to deposit a minimum of $50 using credit card or debit card or wire transfer.
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How can I get money out of FOREX.com? FOREX.com features a straightforward withdrawal mechanism. The money are handled through the selected payment mechanism when a deal concludes. Please be aware that $100 is the least amount that may be withdrawn.
How much do I need to pay to open a FOREX.com account? Opening an account with FOREX.com is completely free. However, there is an account inactivity cost of $15.
What is the maximum leverage at FOREX.com? FOREX.com offers a maximum leverage of 1:50 on key currency pairings.
Does FOREX.com have a mobile app? Yes. FOREX.com provides mobile trading with its fully functioning app for both Android and iOS users.
Is Forex.com a good broker? Yes, FOREX.com is a cutting-edge trading platform for the world's most important monetary markets.
Learn more about online trading brokers for UAE citizens and residents.
Sites like Forex.com in the UAE
Here is a list of top online brokers to open an account for trading Forex, Bitcoin, CFDs and Stocks in the UAE. These brokers have above-average reviews on sites like Reddit, Quora and Trustpilot; and are totally legit, safe and trustworthy for UAE citizens and residents.
The brokers listed on this webpage accept clients from within the United Arab Emirates. Most of these companies provide an online trading platform for fiat currencies (such as Pound Sterling, the Euro, the US dollar, Japanese Yen etc.), buying and selling of cryptocurrencies (for example Bitcoin, Ethereum, Tether, XRP etc.), stocks (this includes listings on Abu Dhabi Securities Exchange, Borse Dubai, Dubai Mercantile Exchange, Dubai Financial Market and NASDAQ Dubai), CFDs (Apple, Microsoft, Amazon, Google, Tesla etc.), UAE government and corporate bonds, and short-term to long-term fixed income securities.
- Olymp Trade - People simply love this one (Olymp Trade Review)
- Binance - World's largest cryptocurrency e-wallet and exchange that also has an online trading platform, where their members can invest or trade in virtually hundreds of cryptocurrencies and new tokens. (Binance Review)
- IG Markets UAE - UK broker located at Tower 2, Level 27, Al Fattan Currency House, DIFC. (IG Markets UAE Review)
- City Index Middle East - London-city broker with a branch in the UAE. (City Index Middle East Review)
- eToro - Social trading platform, but much better options are available out there. (eToro Review)
- Swissquote - It's a Swiss bank that offers an online trading platform for forex and CFD trading. (Swissquote Review)
- easyMarkets - Israeli brand that is big all over. (easyMarkets Review)
- OANDA - American broker that is now spreading its wings. (OANDA Review)
- Forex.com - Google ranks them in the top 10 for the term "forex". (Forex.com Review)
- Plus500 - UK brand that has its own platform, OK for CFDs, with mediocre reviews. (Plus500 Review)
- AvaTrade - Regulated by ADGM's Financial Services Regulatory Authority (FSRA) in Abu Dhabi. (AvaTrade Review)
- FXCM.com - Oldest brand when it comes to retail online forex trading. (FXCM.com Review)
- Mashreq Neo - An online trading platform provided by Mashreq Bank. (Mashreq Neo Review)
- ForexTime (FXTM) - Owned by Andrey Dashin from the Alpari broker fame. (ForexTime FXTM Review)
- Noor Capital - Licensed and Regulated by the UAE Central Bank and SCA. (Noor Capital Review)
- XM.com - XM broker is big in Africa and South East Asia, and now promoting themselves hard in the UAE. (XM.com Review)
- Saxo Bank - Danish Investment Bank with a long history of catering for premium forex investors. It also provides crypto trading facility. (Saxo Bank Review)
- Pepperstone - Originally Australian, but licensed locally by Dubai Financial Services Authority. (Pepperstone Review)
- ADSS - Based out of Abu Dhabi and regulated by the Central Bank of the United Arab Emirates. (ADSS Review)
- CMC Markets - UK-based broker that is popular among CFD traders. (CMC Markets Review)
- Orient Finance - Local online-trading broker that caters to novice traders looking to invest in the foreign exchange markets. (Orient Finance Review)
- Alfa Financial - Their office is located at City Centre Deira on Port Saeed Road; and generally tends to attract investors within Dubai. (Alfa Financial Review)
- One Financial Markets - Local forex broker with an office at Dubai International Financial Centre at Index Tower. (One Financial Markets Review)
- Amana Capital - A broker located at Central Park Towers, Dubai International Financial Center. (Amana Capital Review)
- ETX Capital - UK broker that has a decent reputation among Arab investors. (ETX Capital Review)
- Century Financial - Old online-trading broker with an office at Level 6, Building 4, Emaar Square, Downtown Dubai. (Century Financial Review)
- IFCM UAE - Nothing special about IFC Markets, but it does have a dedicated .AE website for UAE clients. (IFCM UAE Review)
- EARNEX - This one is present at Jumeirah Lakes Towers and is licensed by the SCA. (EARNEX Review)
- Interactive Brokers - American online-trading broker that is expanding into Asian and Arab markets nowadays. (Interactive Brokers Review)
- Rakuten Securities - Japanese broker that usually looks out for large institutional investors. (Rakuten Securities Review)
- Dukascopy Bank SA - Swiss bank that offers online forex trading on its own proprietary platform. (Dukascopy Bank SA Review)
- Gulfbrokers ae - Dubai Multi Commodities Centre (DMCC) regulates this broker, but there nothing extraordinary about this brand. (Gulfbrokers AE Review)
- IQ Option - It's a below-average broker with no Dubai office, but does have a toll-free virtual number for UAE: 800 032 0891 -> No Arabic, English only. (IQ Option Review)
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.