FOREX.com discussion

I haven’t checked out demo of a lot of brokers, but the ones I did check out seemed to be transparent about the spreads. You can get some idea about spreads on the websites of most brokers (at least the ones I’ve come across) except Forex.com. For some reason, they seem to hide the commission account spreads and the only way for you to find out the spreads are if you create a live account and verify it. Seems strange to me. All you can learn about the comm account spreads from the website are “EUR/USD as low as 0.2” - THAT’S ALL.

Hi @e_castillon,

We apologize for not responding to your June 30 post sooner. We must have missed the alert when the post was initially made. We only noticed your post today after more recent posts were made in this discussion thread.

Unfortunately, despite multiple communications you have had with our customer service team, there still seems to be some confusion. As you noted yourself, the Financial Ombudsman concluded that the withdrawal problems you raised in case 20346045 were the fault of your bank in Mexico.

You are welcome to withdraw your funds from your FOREX.com trading account at any time, and we are happy to review the proper withdrawal instructions with you again to avoid further errors with your bank. A member of our customer support team will email you the instructions again along with contact details you can use to follow up with us to address any questions before you make your next withdrawal.

Now regarding your additional comments about the so-called 90-90-90 rule, your latest response confirms what we suspected. We asked you the following:

Then you responded as follows:

As we mentioned before, you can’t believe everything you see on the internet. As you have now confirmed, your source for that so-called 90-90-90 rule is a company that’s in the business of selling it’s own trading courses, and unfortunately, the approach they have taken is to make claims about client profitability that are easily proven false.

We have yet to find any reliable study behind the “Rule of 90/90/90”, but people continue to mention it on forums as if it was a proven fact. Unfortunately, this so-called rule seems to be nothing more than another example of people misrepresenting statistics and spreading these misconceptions to others: Divorce Rate: It's Not as High as You Think - The New York Times

In the US, forex brokers are required to report client profitability stats to the CFTC every quarter, which is approximately every 90 days. Below are the stats FOREX.com reported to the CFTC for the past year:

For the calendar quarter ending June 30, 2018, there were 34,000 active non-discretionary
trading accounts of which 38% were profitable and 62% unprofitable.

For the calendar quarter ending March 31, 2018, there were 35,139 active non-discretionary trading accounts of which 28% were profitable and 72% unprofitable.

For the calendar quarter ending December 31, 2017, there were 33,885 active non-discretionary trading accounts of which 33% were profitable and 67% unprofitable.

For the calendar quarter ending September 30, 2017, there were 34,138 active non-discretionary trading accounts of which 32% were profitable and 68% unprofitable.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

Hi @jas0992,

It sounds like the emails from our account services team are getting blocked by your email filters. Please make sure to add the FOREX.com domain to your list of safe senders. Our customer service team is available 24 hours a day during the trading week, so please feel free to contact us via phone or chat for an update on your account status and to have the latest details emailed to you again after you adjust your email filters.

Hi @jas0992 and @Trendswithbenefits,

While we won’t speak for other brokers, we can confirm for you that FOREX.com demo accounts display prices available to our live account holders. In fact, we want our demo users to get the most out of their demo trading experience: Demo = win , live = loss

That said, it’s important to understand that our demo accounts are currently set to display the most common pricing model used by our clients, and the vast majority of them trade on the all-inclusive spread model with no commissions.

Our spread plus commission pricing model is still relatively new, so you can expect to see more details about it on our website after we finish making updates to the relevant web pages. We value your feedback about our demo accounts and will see if we can update some of our demo servers to display the commission pricing instead of the spread only pricing.

I don’t believe my Gmail filters are a problem. I don’t think Gmail completely blocks an email from coming through unless maybe the sender is a known spammer. Your emails should’ve at least landed in the Spam folder, if you sent any. I am getting emails from Forex.com domain fine, be it automatic emails sent after I create a ticket or your newsletter. I just don’t get anything regarding the live account application.

Hi @jas0992,

While it may seem odd, in our experience sending thousands of emails per month, that is the most likely explanation. Otherwise, why would you have had problems receiving emails from our account services team on two separate occasions?

Our account services team uses different email addresses from the ones used for automatic emails and newsletters like you describe.

Attention US Traders*

Due to recent volatility in the currency markets and margin increases made by CME Group and Intercontinental Exchange, the NFA has mandated an increase to the minimum margin required on all Turkish Lira (TRY) and South African Rand (ZAR) currency pairs to 12% and 7% respectively, no later than 6pm ET on September 24, 2018.

To comply with this new rule, we will begin making these changes across all trading platforms beginning approximately at 5pm ET on Monday, September 24, to be complete by 6pm ET. This change will affect all new and existing positions and remain in effect until further notice.

We strongly encourage you to review your account to ensure all of your open positions will be adequately margined once the higher margin requirement takes effect.

If you wish to add funds to your account, the fastest way to do so is by logging into MyAccount and funding via debit card.

Please let us know if you have any questions or are unsure of how this change will impact your trading account.


This change only affects clients trading with FOREX.com’s US entity. Our clients trading through FOREX.com entities regulated outside the US are not affected.

Dude or Dudette, man you couldn’t pay me enough to do your job. My hat is off to you. Now you will hear the incessant whining about the margin rates going up on the Rand and Erdojuan. Look ya’ll I have moved money in and out of my forex.com account with no issue. I also set up an account with them, no problem. Also they are not hiding anything about the rates.

Finally, what do you want for a simulator, its only there for you to learn the platform, it is not a virtual simulation of live trading, it is probably on another server, it was with PFG. Nobody ever goes in to their broker and says, hey I want a Currenex Demo so I can learn how to trade. Ya’ll should give FOREX.COM a hearty thank you that they provide the sim for you to learn on, and not charging you for the bandwidth and server space.

Hah, and people wonder why I got out of the IB business. FOREX.com, if you want to have Jess delete my rant, no problem. To everyone else, my views do not represent FOREX.COM or GAIN Capital, neither am I an employee, or representative, just a client, and I stayed at a Holiday Inn Last night.

The Ever Wondering About This Group Of Humanity VIPER

2 Likes

Hello,

Why do the FX pairs show up with “pro” after their symbol name? There are a few without the “pro” but I can’t trade those.

See images for comparison.
image

image

I had tried to use some charts from another copy of MT4 but they showed the wrong symbol.

I’ve got a Canadian MT4 demo account.

Thanks,
Robin

1 Like

Hi Robin,

Thanks for your question.

A suffix at the end of a Symbol name on MT4 can be used to differentiate between pricing tiers. Note how the “pro” symbols you can trade have lower spreads than the non-pro spreads you cannot trade.

You can update your MT4 charts to display the symbols you can trade with the correct suffix.

Direct Market Access (DMA) Trading with FOREX.com

As the #1 forex broker in the US by client assets, our goal is to cater a variety of trading styles by offering multiple trading and charting platforms, educational resources, and markets. That’s why in response to popular demand, we are excited to introduce our new Direct Market Access (DMA) account.


1) What is Direct Market Access?

It means you’re trading on pricing sourced directly from our liquidity providers*. Ability to see the full market depth gives you greater insight and control to trade on the best bids and offers especially for large order sizes.

PriceMode

* While our clients trade on transparent DMA pricing provided directly from top-tier global banks and liquidity providers, FOREX.com remains as the principal and counterparty to the trade. We execute client trade requests in FOREX.com’s name with the liquidity providers and pass the fill price back to the customer with no added mark-up.


2) What are the advantages and disadvantages of DMA model?

Advantages:

  • Trade on prices sourced from global banks and top tier liquidity providers – with no additional mark up

  • You pay no FOREX.com spread, raw spreads can be as low as 0.0 – no mark up

  • You can trade on discounted commissions as low as $20 per million. Standard commission start at $60 per million with the opportunity to earn deep discounts that carry over month to month. Commissions are based on the value of the contract in USD.

  • Real time full multiple levels of full market depth of our order book

  • Split the spread, place orders within the top of book spreads

Commission example:

  • If you trade $350M volume in Month 1, your commission for trades in Month 2 will be $35 per million traded.

  • If you trade $550M volume in Month 2, your commission for trades in Month 3 will still be $35 per million traded, since it is based on your 3-month rolling average of volume traded.

  • If you trade $600M volume in Month 3, your commission for trades in Month 4 will be $30 per million traded (based on 3-month rolling average of volume traded).

Disadvantages:

  • When you are trading a DMA account, you are trading on raw pricing and liquidity and as a result, there may be periods of less liquidity such as during news announcements - spreads can widen further in a DMA model when compared with our standard spreads. Trade requests may be partially filled or not filled at all due to lack of available liquidity.

When you trade on a FOREX.com Standard or Commission account, FOREX.com acts as the market maker and is directly accountable for pricing and execution quality. Your orders are filled directly by FOREX.com.

With DMA, FOREX.com is placing an order on behalf of the client and passing along the fill received directly to the client, so there is the possibility of order rejections and partial fills.


3) Are there any account or trade restrictions with a DMA account?

The DMA account is available to everyone however, it is designed with high volume traders in mind. There is no minimum account balance or minimum trading volume required per month, but the minimum order size is 100K (or 100,000 units of base currency AKA one standard lot), and trades must be placed in increments of 100K.*

A tiered commission structure means your commission per USD million traded is based on your monthly trading volume.

DMA commission table USD

* Traders who wish to place orders smaller than 100K, or who trade less than 100M per month have the option of trading our Standard or Commission account where they can place orders as small as 1K (or 1,000 units of base currency AKA one micro lot).


4) Are there other benefits of having a DMA account?

  • Earn interest: 1.5% APY interest on your average daily available margin** balance up to $50K, 0.5% APY on $50K-$100K

  • Get professional guidance: Enjoy dedicated one-on-one support from a highly trained Market Strategist that can help you with your trading plan

  • Waived bank fees: We will reimburse bank fees on all wire transfers


Visit our website for more information on our DMA account, or you can contact us at 646-512-5438 or dma@forex.com

DMA FAQs: Pricing & Fees


5) Will I save money on transaction costs versus a standard account?

Your transaction costs will vary based on volume traded and spreads. With a DMA account, you pay no FOREX.com spread. You are trading on raw pricing and liquidity sourced from our liquidity providers. So while you may trade at spreads as low as 0.0, there is no minimum or maximum spread as a result, during times of less liquidity or news announcements, spreads can widen further in a DMA model when compared with our standard spreads.

Your transaction cost to FOREX.com is the commission you pay on your trades.


6) Will FOREX.com.com prices be available in the DMA model?

No, FOREX.com prices will not be available in a DMA account.


7) What are the roll rates on DMA account?

FOREX.com sources institutional rollover rates and pass them to you at a competitive price. Similar to a standard FOREX.com account, rollover interest is not applied to intraday trades.


8) What is “top of book” pricing?

Top of book represents the best available bid and offer at that time and is available up to 1MM. In the example below, you can see there is liquidity of 3M available at the best bid price to sell EUR/USD at 1.15082 and 2.1M available at the best offer price to buy EUR/USD at 1.15082 (meaning the spread is zero pips in this instance).

PriceMode

Actual execution prices may vary to pricing displayed on the platform.


9) How will cost per trade be determined?

DMA is a commission only model, you’ll pay no FOREX.com spread. Your cost to us is the commission paid.

Question - i’m looking for a good and reliable forex proprietary fund, can someone advise me please?

1 Like

Hi @snir,

Thanks for your question. Unfortunately, we cannot recommend any investment for you. However, you are welcome to try one of our free demo accounts. It will allow you to place practice trades in the forex market with no money at risk.

DMA FAQs: Execution


10) How will my stop and limit orders get filled?

Orders placed via the DMA trade ticket will be immediately passed to our liquidity providers (in FOREX.com’s name) where they will add to the liquidity in the pool. The limits and stops effectively become bids/offers for other participants in the liquidity pool to interact with.

Orders placed via the standard trade ticket on the Advanced Trading Platform and the mobile and web platforms will be top-of-book and will only be sent to the liquidity pool as a market order when the order is triggered.


11) How will liquidations be executed?

You are responsible for monitoring your account and maintaining 100% of required margin at all times to support your open positions.

If at any point, the equity available drops below 100% of the margin required you will be subject to auto liquidation of the position incurring the largest loss. The liquidation process is as follows: the net aggregated open position with the greatest unrealized loss is closed first, followed by the next largest losing position and so on, until the maintenance margin requirement is satisfied or exceeded. Depending on the size and unrealized P&L of the open positions, all open positions may be liquidated in order to meet the margin requirement.

In the event of a liquidation, the trade is executed in the market directly with the liquidity provider and then passed down to the client.

When your account falls below 120% margin, a margin alert will automatically be sent to you via email. This notification is for your convenience and should not be relied on to protect your account.

While our 100% margin requirement and real-time margin system is designed to limit your trading losses and help ensure that total losses never exceed your total account balance, you do risk incurring losses greater than your account balance, especially during periods of extreme market volatility. For this reason, we strongly encourage you to manage your use of leverage carefully. Increasing leverage increases risk.


12) Who is the counter party on trades with a DMA account?

FOREX.com acts as the principal and counterparty to the trade.

Here’s how Forex DMA execution works:

  • a. The Forex DMA dealing ticket displays the best bid and offer price available for a particular market as well as the additional prices available on either side of the order book.

  • b. Client places an order on the DMA pricing and FOREX.com instantaneously conducts a margin check to ensure the client has sufficient funds to cover the margin required for the proposed trade.

  • c. If the margin check is satisfied, FOREX.com places an order in to the market in FOREX.com’s name at the client’s chosen price.

  • d. When the order is executed in the market, we fill the client’s order at the exact same price without a mark-up and book into their FOREX.com trading account.

  • e. Therefore, while the client is trading on transparent DMA pricing provided directly from top-tier global banks and liquidity providers, FOREX.com remains as the principal and counterparty to the trade.


13) Are there any differences from the market maker model in executions and fills?

Yes, when you trade on market maker model:

  1. Client places an order after seeing FOREX.com’s tradable bid/ask spread

  2. FOREX.com executes the order

  3. We confirm the execution to you

FOREX.com is directly accountable for pricing and execution quality and customer orders are filled directly by FOREX.com.

When you trade on DMA:

  1. The Forex DMA dealing ticket displays the best bid and offer price available for a particular market as well as the additional prices available on either side of the order book.

  2. Client places an order on the DMA pricing and FOREX.com instantaneously conducts a margin check to ensure the client has sufficient funds to cover the margin required for the proposed trade.

  3. If the margin check is satisfied, FOREX.com places an order in to the market in FOREX.com’s name at the client’s chosen price.

  4. When the order is executed in the market, we fill the client’s order at the exact same price without a mark-up and book into their FOREX.com trading account.

  5. Therefore, while the client is trading on transparent DMA pricing provided directly from top-tier global banks and liquidity providers, FOREX.com remains as the principal and counterparty to the trade.

With DMA, FOREX.com is placing an order on behalf of the client and passing along the fill received directly to the client, there is the possibility of order rejections and partial fills.


14) What is the difference between DMA and ECN model?

There are many similarities between the two models in terms of pricing. Both provide clients with access to the interbank market which creates tight pricing with depth of book transparency. In a typical anonymous ECN model, the individual client must have secured their own credit line from a traditional Prime Broker or Prime of Prime provider in order to participate in the ECN. With FOREX.com’s DMA model, we leverage our existing Prime Brokerage relationships to provide customers with access to trade on prices sourced directly from our liquidity providers.


15) Can clients request execution data the same way as market maker model?

Yes.


16) Will I have access to historical data?

Clients will have access to historical data in the same manner that retail clients do today.


17) What recourse do I have if my stop or limit order is not filled?

Our ability to fill your trade is contingent on the order being executed with our liquidity provider(s). When you trade on our DMA service, your orders are passed directly to our liquidity providers with FOREX.com acting as counterparty to your trade. A lack of available liquidity from FOREX.com’s liquidity providers may result in your order not being filled at any price.

We will display currently available pricing for the contracts offered under the DMA Service. The actual execution price achieved in the market with our liquidity provider is passed on to you at the same price with FOREX.com acting as counterparty to your trade. There may be instances when the prices may differ from the pricing displayed.

Merry Christmas and Happy New Year!

Upcoming Holiday Hours

Christmas

  • Trading in Forex, Gold and Silver will close on December 24th at 22:00 GMT (5pm New York Time).
  • Trading will resume on December 25th at 22:00 GMT.

New Year’s

  • Trading in Forex, Gold and Silver will close on December 31st at 22:00 GMT.
  • Trading will resume on January 1st at 22:00 GMT.

CFD Trading Hours

Please be aware that during holidays the rollover rates may be higher than normal due to illiquid markets.


Forex Market Hours

  • Forex Trading is available 24 hours a day from 22:00 GMT Sunday through 22:00 GMT on Friday, including most holidays with the exception of Christmas and New Year’s.

  • Please be advised of the potential for illiquid market conditions particularly at the open of the trading week and around holidays. These conditions may result in wider spreads for some currency pairs based on market liquidity.


Spot Gold and Silver Market Hours

  • Spot gold and silver trading is available 23 hours a day from 23:00 GMT Sunday through 22:00 GMT Friday. Trading is closed from 22:00 to 23:00 GMT daily. Spot gold and silver trading also follow CME holiday closures.

  • Market hours and holidays are subject to change. We will keep this information up-to-date on a best efforts basis. Please be advised that on the holiday dates, there may be periods of limited liquidity in some markets.


Contracts for Difference (CFDs) are not available to US residents.

nice one dear

Hii’,i’m living in south Africa,I’m done with my forex studying,i’m trading not with live but demo account,I wanna start trading live,can you suggest me a trusty broker or dealer with nice rollover(nice trading fees) and witch you can withdraw you money easily,thank you.

I’d just like to let everybody know that the funds were found! I had to fill a complaint with VISA Europe. My bank in Mexico and Forex.com were not the ones to blame. VISA made a mistake and couldn’t complete the withdrawal. On July this year I got my money back. If something like this happens to anyone you just have to know that VISA does not provide financial services, it provides commercial services. If a VISA payment get lost, just fill a complaint on their website and they will be happy to assist you. Thank you VISA.

Problem with this company is high spreads and commission. Spreads 2-3-4 times higher than average ECN spreads , very high 1.0 round turn commission on top of that , low leverage ,1:50 , no negative balance protection . This looks like an offshore bucket shop from the 90 ies…this is a shameless rip off …