Forex.com is my first broker so I can’t compare them to others but on the plus side they have the live chat service, whenever you need information they will give it to you in a matter of minutes. Also they have fixed spread and a efficiently working website.
The negative experience I had with them is all related to marketing, when I only had a demo account with them, they kept calling me every once in a while to ask me if I wanted a live account, or to inform me about free seminars. I also received some e-mails with subscription links when I didn’t really want them.
So overall, if you want fixed spreads and reliable broker (technical assistance) go with them, but if you’re looking for a broker that gives you more freedom, look elsewhere. Especially if you like to customize your charts and indicators. Their (free) platform isn’t the best out there for sure (lags sometimes, when markets close, it starts showing the rate at open, but doesn’t show up the chart correctly, last time it took up to one hour to get the chart working while MT4 had it on and running right away).
And don’t open a demo with them, unless you are planning to open a live account later on or if you just want to see their platform.
I haven’t tried a live account with Forex.com yet (or anybody else for that matter - I’m still learning) but I have used their demo accounts twice now and have been quite impressed.
I too got the annoying solicitation telephone call (at about 10p.m.!) after I opened my first demo account so when I opended the 2nd one, I simply asked them to only contact me via email because I’m a shift worker and need my sleep. I am pleased to say that they honoured my request and I only received a couple of emails from them which I didn’t mind at all.
I like the format of their charting/trading platform; it’s really handy having the prices and charts on the one screen and the choice of trading tools seems almost endless! I have tried demo accounts from other brokers, most of which didn’t include the charting software and found this to be inconvienient after cutting my teeth so to speak on the forex.com system.
I can only assume that their “live” accounts are set up the same way in which case, I will happy to give them some real money and see how things go.
My only suggestion is that because the screens can get quite ‘busy’ with all the information they can display (you can have two or three charts open at the same time) that you either have the largest monitor that you can afford or try a dual display system. I was using it my wife’s 15.4" widescreen notebook and I could have either one chart plus the position information open or two charts that obscured everything else.
In general terms though, I think they are probably worth a go but each to their own…
I’ve been playing with their ForexTrader demo account almost a month now with no complaints. I received a call a couple weeks ago from them and the guy was very helpful and didn’t pressure me to do anything. I was doing some research recently though and found out the NFA issued a complaint last December:
Hello kinjen…
My exp with forex.com was their mt4 demo and was using it and had to keep re logging in all the time. So I opened another demo with mbtrading to see the difference, and I found out why fx.com was messed up. They never updated to the new mt4 build. I called them about this issue and asked if they could update the mt4 build, and he couldn’t give me a honest answer!!! I told him about other demos that send auto updates to mt4 plateform, and his reply was, maybe they have a a different relationship with mt4??? WTF kind of answere is that. I told him that I had researched with nfa, cftc and found no real bad legal issues and was wanting to open a live account with them with the mt4 plateform, but if they can’t have a better “”“RELATIONSHIP”"" with with their demo accounts, I would not Dare trust them with real money in a live account using their mt4 plateform. He did not really have an answere to that at all. So I just HUNG UP on him. I still have that demo and check to see if they have the new build for mt4, and it’s still the 451 and NOT the new build YET!!!
I will NOT OPEN a LIVE account with them for these reasons with their mt4 issues!!!
hope this helps!!!
hotnights