Your experience with FOREX.COM

Broker Discussion Forex Brokers
1

Hi,

I’m thinking of starting to trade through forex.com, I would be very happy if anyone can tell me about their experience with them. I have read many reviews with extremely different views. Are they robbers?

Thanks in advance for any replies.

2

Hello.

I have used the Forex.com for a few months… And heres my personal opinion on why I think its simply the best.

[B]1. Website [/B]- What difference on forex.com from a lot of other websites is… the whole website layout. I seriously would never consider applying for a brokerage whose website looks like crap, and bunch of MESS. Forex.com is very simple, and PROFESSIONAL.

[B]2. Platforms [/B]- Forex.com offeres Java-Based platform, and also HTML Based platform, and now a downloadable platform which is WAY awesome, but I still stick to java platform because it is SIMPLE, CLEAN, and once again… PROFESSIONAL. I seriously think fxcm platform is a mess, too much black, and I dont like the style.

[B]3. Spreads[/B] - People will go all around looking for dozens of brokers… to see which one offers the smallest spreads. Let me tell you this… I think I would rather get a broker with ‘medium’ spreads, for when I trade, I dont make money trading 6 pips and making money off 3. I simply think its a dumb arguement, because when the market rises 50 pips, those 2 pips that you saved from your broker will not gain you millions… not even enough to consider switching to the broker. That is simply a trashy way to make you want to trade on another broker.

  1. Customer Support - Very friendly, almost instant. 24/7 Customer support, I think it beats the rest.

I would give Forex.com 9/10.

More improvements CAN be done, but overall its great, and I think it beats the rest.

Note that this is my personal opinion, and that this is how it works best for me.

PS: Who told you they were ‘robbers’?

3

I’ve been with forex.com for two years and have no complaints. I can only echo the post by 1paris.

I, too, stayed with their old platform as it is very easy to use.

I’ve heard forex.com get a bad rap and have never understood it. I [I]would [/I]like to see them offer microlots. Other than that, they’re great

Bill

[I]It’s all just noise![/I]

4

9 out of 10 because improvements can always be made,

Awesome broker, unparallel customer service quality and response.

Always willing to help and will always give you a telephone call no matter where you are if you have a problem.

Their Platform is 10/10, however they need to seriously change their charting package - it is the worst i’ve ever encountered, so i only execute with them not chart.

Regards,
E. Lang

5

Same here: I execute only…I do not use their charting.

6

I use stifxonline.com as my primary broker.
I have much deposit with STIFX, due to following reasons.
Quick Execution with deep liquidity
24/7 Customer support even in weekends.
Good Charting Platforms.
Free Education, Analysis, And other essential Services.
Tight Spreads.
And other thing i like it, i can easily manage my protfolio, by trading gold, silver or oil and hedge my positions which is good risk management technique.
Another thing i like about stifx is quick deposit and withdrawal method.

these are some of the benefits i chosed stifx. though i also have traded with forex.com earlier back, but now trading with stifx and pleasantly happy.

7

stifx is a good broker. I opened account with stifx last week.
I opened account with $2000.
I am happy with there service.

8

I got demo … and this is what I’ve found

their java trading platform very slow … consume to much bandwidth … crash… blame my nternet connection!

if they used meta trader … maybe I’ll turn my eye on them :wink:

9

For the most part, I’ve been satisfied, however, nothing is perfect.

Tonight, the login procedure was down for a lot of people. I couldn’t login to do anything from roughly 6pm until 9pm (EST). A quick chat with one of their customer service rep clarified that they were aware of the problem and working on it. A few minutes ago, I was able to get in. Let’s see if I get kicked out again…

Also, when I first signed up for a demo account a couple months back, they started harrassing me with a couple phone calls a week. Their reason was to see if everything was working ok, but after 1 week trying the demo, the lady was really pushing trying to make me buy their $100 course. A couple weeks later and 3 or 4 calls (mostly ignored), the lady really tries to push me to open a live account even if my practice one isn’t expired yet. I almost just said (bleep) it and look elsewhere, but decided to see if they tried that again. Lucky for then they didn’t.

The website is well done and easy to navigate. Their staff is friendly despite the pressure-selling tactics they employ, although that’s management policy, I’m sure. Their software could use some work. It crashes on a semi-frequent basis and the charts just plain suck.

Overall, I’d give FOREX.com 8/10.

11

I don’t get how you do this. Do I ask forex.com? Do you need a special account? I signed up with them 2 months ago so would be very interested in any discounts.

12

No. It’s quite simple. Open an account through my site and I will send you rebates in cash to your bank or PayPal account regularly. You receive $4 per standard lot / $0.40 per mini lot. Opening an account through my site doesn’t change your account (spreads, any commission etc.) at all. I work as an introducing broker for forex.com(Gain Capital) so receive a portion of Gain’s spread which I then pass on to you. It’s really cash you are literally throwing away if you don’t name an introducing broker.

Click on my user name to go to my site. If you have any more questions please email me - don’t clog up this thread.

Cheers
Michael

13

I’ve been with forex.com for a year and decided to cancell this week. They are not all bad

Good points:

  1. customer service, always there(even though they dont always have the answers.)
  2. Fixed spreads.
  3. Software can be run on basically any Pc or laptop with an internet connection. All you do is use their java or html. Also have mobile/phone access
  4. you can have a negative balance. due to MARGIN CALLS

Bad points:

  1. DO NOT TRY TO OPEN A MINI ACCOUNT WITH THEM. YOU MIGHT AS WELL JUST TAKE $250 AND TOSS IT OUT IN THE STREET.They will eat you alive!

  2. website may look good but go and look at the dates. They ALWAYS were and still are OUTDATED with some news as much as 1 month old.I was so frustrated with this i started using dailyfx.com to get up to minute news.

  3. If you still go with them…DO NOT USE their charting software…if i didnt already cancell I would post pictures of some charts on here and you’ll see what I mean but there charts are EVER CHANGING even if you are on the same time frame and not making modifications.

  4. NEWs RELEASES in the platform are ALWAYS LATE so dont depend on them when they say something like…“we hear a BANK making offers in USD/JPY” thrust me…Its already happened.

  5. Times zones. The economic data is in GMT time zone, your charts are US 24 hours military time and News realases are 12 hour standard US time.

  6. DOUBLE YOUR DEMO first WITH THE ACTUAL AMOUNT you plan to use in the live account.Again DO NOT use a mini account.

Like i said they not all bad, but you will need other resourses to get your information, charts and news and economic data, but excute the trade in forex.com

14

Hello,

I want to open a mini account with Forex.com, but another poster said that you will get eaten alive with one? I don’t understand. Please can someone explain this to me??? I am looking to start with about $2k.

thank you

Kuth

15

read school of babypips… if u have 250, open a demo, if u have 1000, open a micro… reason is simple… extrmee high leveage can kill u… meaning ur money could be use to pay someone else BMW

16

Hi Icy Cloud,

Thanks for the response, I read about leverage this morning. I thought that I might of missed something about extra commission or something like that of have a micro/mini account. Definately not going to start with a high leverage!!!

Thank you

Kuth

17

Don’t open a mini with less than $2000 - and that’s still pushing it. Only trade 0.1 lots. Micro - $200. Standard - $20,000.

18

I have a mini account with them and have had no trouble. I love the quick deposit with credit card feature, so easy to add to an account. Java platform is sometimes slow, but I had never had a bad execution, you don’t get screwed like the crooked stock MM’s. My only complaint about the charting software is you cannot save your tech setups, what a pain to put them all back in, I use the dual charts, plus I have a better stand alone platform I use for a third view.

Rich

19

I have used Forex.com for about 1.5 years. No complaints. I usually use their Java platform. And I’ll use their Forex Mobile platform when I need to check rates or cancel orders from my cell phone.

I’ve never had a trade not get executed. I’ve never had a problem logging in, during trading hours. I think they take it down on the weekends sometimes for maintenance.

Their commentary is insighfull. And their technical analysis is sound (not perfect) but sound.

Somebody previously said they felt “pressured” to open a live account. During my “MANY” demo periods, I’ve never felt pressured 1x. And I would expect any company, in any business to call on you, if they have evidence you have opened a demo using their product or service.

Their customer service/tech support is good. When testing different trading strats, sometimes I’ve wiped out my demo account. With a couple clicks of the mouse I’m chatting with one of their customer service reps, and they are more than willing to reset the demo account.

And I’ve never had any bandwith or crashing problems with their Java platform like the guy from Indonesia said. (maybe his location has something to do with that?)

Sometimes, I’ll encounter hangups with their charting package. Where I’ll switch to a time frame, and the chart just “wigs out” on me. But that is probably the only negative with this company.

Botton line, imho if you are looking for a good broker, Forex.com would be a sound choice.

20

I DL’d their Forex Trader windows based platform and like it better than the Java pkg. You can setup and save your technical indicators, and it seems as fast or faster than the Java platform.

22

Horrible! Closed my positions without margin call, warning, etc. . . . then, followed up with a “deposit more money” e-mail after it was too late.

No responses to e-mails regarding technical issues. The only thing that works really well without any issues all the time is their credit card funds deposit feature. They’re always there for you when it comes to taking your money. You’re completely on your own after that. Do not recommend them for beginners with mini accounts unless you just want to play with a demo account.

Now that we know FOREX sucks, what are some alternatives?