FOREX.com reviews




Average: 1 based on 2 reviews
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FOREX.com

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Website: http://www.forex.com

FOREX.com Gain Capital group Forex broker reviews


FOREX.com claims to provide the following advantages:

  • Trade on spreads as low as 1-2 pips
  • Fully automated click&deal trading.
  • Minimum deposit $250
  • Leverage up to 200:1
  • Mini contracts (10k) trading, no commision
  • Award-winning forex trading platform FOREXTrader
  • Guaranteed fills on stop loss and limit orders
  • Support for automated (API) trade executions
  • Wireless trading and account access
  • Trader education, mentoring services, and more

FOREX.com is regulated and audited by:
FOREX.com is a registered Futures Commission Merchant (NFA ID #0339826) and a member of the National Futures Association. As an FCM, FOREX.com is regulated by the Commodity Futures Trading Commission (CFTC), must uphold the highest standards and business practices and is subject to strict financial requirements and reporting.

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REVIEWS & RATINGS

Rating interpetation



Aras, USA

January 8, 2010



more than 1 year Total
7 months with this Broker
1


This broker is really scam. They never gave the spread they mentioned in their web site. For example, they mentioned that EUR/USD is as low as 1.1 pip for Pro account holders. But, in past 7 months, I have never seen such a spread, even during London and US market open time. It is plain cheating just to get more customers. Their customer support was not able to tell me when they did such a spread in reality.

Also, when they change the price, they first widen it for a second and then bring it to normal. For example, GBP/USD is trading for 4.5 spread Bid 1.60415 Ask 1.60460, assume that the price goes up 1 pip now, first what they do is change the ask price and wait for a second or two then change the bid price. Like this: Bid 1.60415 Ask 1.60470 for 1 or 2 seconds and then change the bid to 1.60425. If you watch it carefully, you will see it in all pairs. This is their regular practice.

One more problem is their system won't warn about the insufficient margin. Whatever, you want to buy, it will buy and then immediately the system will liquidate you. You will end up paying the spread. For small volume trader, it might be a small amount, but for 10 standard lots , easily it will come to $300 to $400 dollars loosing just in seconds.

Also, I am getting lot of re quotes.

I would suggest to "STAY AWAY" from this broker.


USA

June 20, 2009



6 years Total
5 years with this Broker
1


They love to requote, and when you ask why did it happen they do not have a answer.
For 3 weeks I was up 22-25 pip click close button and when to or negative, had to click close button several times to finally get out.

So it is not my broker anymore