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Forex.com Reviews
| SCAM | I wouldn't suggest the platform in general. The FTP platform is extremely sluggish and it is impossible to define defaults for market positions. The worst thing though is that they will arbitrarily close or change your position without your approval. This hovers on being borderline illegal. They will ignore a losing position and let you rack up losses, but quickly close a winning one. Their TOS probably has a hidden clause which allows them to tamper with your positions and close them at their own will, but I fail to see why anyone would continue to trade with this company once it happens to them. Would you continue trading stocks at a broker that suddenly sells off your entire holdings in a company because the stock surges upwards in price? I think the analogy is fair and valid. This company is a fraud, plain and simple. I do conflict arbitrage on behalf of a Forex forum and at least 80% of the cases pertain to this site. I personally never traded here, but saw all the screenshots, video captures etc. myself, and talked to scammed customers on the phone. You should make physical records of your trading history with this company. Use a video feed if you have to. If they erase or close your positions without asking you in advance, take them to court. | Sanctimony | 12.11.18 |
 | I have read the comments about Forex.com and find the argument that Gain Capitals clients do not understand the risk rather funny and deceptive. I understand that risks are very prevalent in CFD's, spot, or whatever you would like to call the contracts. There is one very big problem that I personally faced with Forex.com. The company suspended trading 3 consecutive times when they owed my own account. I approached the service department with these issues and was told that technical difficulties were the reason for the suspensions. Without honoring the orders placed while under suspension I was told that reduced spread would be offered for a short period of time. Now, to tell clients or potential clients that they do not understand risk is absurd. Clients of Gain must compete with slippage, rouge ticks, ect. Yet if clients do "beat" the traditional and understood risks they can be stuck with a "product" that is not exchangeable with a contracted service company who's business is solely to make these exchanges. So, Gain Capital has one or more problems that can be identified as a scam/unethical practice and please understand they will operate in this manner (I was a client for years). They have technology that is seemingly faulty when it does not benefit the company, they manually shut down (suspend) trades, or have routine liquidity problems to cover their own debts, ect... With Gain providing white label solutions for a variety of companies it would behoove of investors/traders to understand these issues are not isolated to forex.com and have been addressed, without resolve, to Gain Capital and their legal team. At best this is an unethical and immoral company. At worst they are the scam that so many have already labeled them! | Ambiguous | 19.05.18 |
| SCAM | I am having a continual problem withdrawing fund from my account. Gain Capital's website states that it can take up to 2 business days to "process" your withdrawal. In reality, it takes them 5-7 days to return my funds. When I contact them to comlain, they blame my credit card company for the delays. Problem with that is I have a friend at my bank who is able to view the banks ledger and determine when funds hit my credit card. Turns put thae problem is Gain Capital. They dont like withdrawals so they delay processing them for up to a week befor releasing funds back to a credit card. Gain sends an email "confirming" my withdrawal request the same day I make the request. The funds are removed from my account within an hour by Gain, but they dont release them back to my card for 7-10 days. I wonder how much interest Gain is making off my "funds in limbo" that have bern removed from my account but not returned to me in a timely manner. | George Harris | 15.05.18 |
| SCAM | COMPLETE SCAM! I made an account, deposited 2500 and started trading. I made a couple hundred dollars and requested to have it sent to my bank account for withdrawal. The time frame stated it could take up to 48 hours. It's been over 7 week days... If I can't even get that money out I'm probably not going to be able to get my 2500 back either. I thought I did my research before working with them but I guess not. I didn't lose money on trades.. I lost money because they wouldn't give me earnings!!! Will be attempting to refund my initial deposit soon. | Megan | 13.04.18 |
 | With the understanding that they are counter party to your trade, one would keep an open mind for dealer plugins and such. I speak from a on & off relationship with Forex.com/UK/US/UK/US, a Gain Capital division for the poor in monetary and big on dreams. News trading is far the worst, that if you held a position prior to it or just got unlucky, you can see all the delays in the price action keeping you humble. Yes, you could take advantage of this and they will honor it, but the negatives far outweigh the positive. The last despicable act came horror before my eyes. The EUR/USD position I held changed to some other currency. No hot keys were pressed or accidentally scrolled. In fact, the journal was completely erased of any records even though no MT4 restarts either on or on VPS. Overall, a dealer/broker can delay, slip, disconnect, requote, or give show trade context busy etc, but changing one's position was the final straw. At least, withdrawals and service is met with expectancy. | Dontbegypped | 07.04.18 |
 | I lost 500 GBP with these criminals. They would close a position without any reason, Initially I deposited 250 GBP and added 250 again, they find one reason of the other and positions can be closed as fast as they open wiping out money from your account. On top of that, I didn't even trade in forex, I was doing commodities. I have asked for return of my remaining 47 or so GBP and am still waiting. DO NOT waste your money with these guys. | Aamir Saeed | 12.03.18 |
| SCAM | Hi Guys, Thanks for this information, I've been playing with this market makers in Sydney for nearly 2 years and I lost 160k+ , I couldn't believe this stories until I saw that they close my wining positions without my permission with excuse of reaching to the margin call, this bad, don't waste your time and money with them. | Max - Sydney | 21.01.18 |
| SCAM | First and foremost Forex.com makes up prices in there virtual environment, and they charge tremendous amounts of points. This is not real trades this is fake. DO NOT LISTEN TO POSITIVE REVIEWS AS I WAS TRICKED TOO. I lost over 3k I was upset then I started viewing MT4 on another site and was completely amazed by there 3 to 5 second price difference. | Huge Losses Forex.com | 21.01.18 |
| SCAM | Its a scam!! They are manipulating their software It seems that while you are trading, someone at the other end can speed up or slow down the software. They store your emotional pattern and play with it. Nasty business..I lost $5000.. I dont regret it, charge to experience and donations to US govt, .. why they allow or not notice such scams. | sam | 09.01.18 |
| ForexTraderPro platform updates a candle 2 minutes AFTER it has ended. It's a joke! I dare anybody to prove this wrong!. This platform is the worst. It has a limited amount of indicators, and you can't add any new ones! You can't set any defaults as far as Buy and Sell. It has to be the worst platform for forex in the world. | No forex | 10.12.17 |
 | i been with forex.com for 5 years one of the best pips spread best costumer services and they are always calling me to make sure everythings is going well with yhe account love they services as well they costumer support | william | 09.12.17 |
| SCAM | I have received an email with details on a transfer from Forexcom Finance Company for $27,800,000.00 Dlls from UK....they are asking for $500 dlls, that Forexcom company needs from before they can transfer the 90% of total fund to a designated account. they also sent an image of the check from HSBC in London. They are operating from South Africa. Any comments? | Frank | 08.12.17 |
| SCAM | Forex.com is the biggest scam FOREX trading company. They will hang your positions, requote, off-quote, trade cannot be executed, all kind of nonsense. They are all crooks especially when you are in consistent profit for 3 weeks, they will do all they can to make sure your account is finished. | Jenny | 24.11.17 |
| SCAM | Ho Boy...man...what the hell kind of site is this anyway...I was making a profit on a position and it still closed [liquidated]...below is an actual Live Chat with one of there Agent Brad right after this happened...Friday ~ 4am to 5am October 15, 2010...enjoy for your reading pleasure... ********Beginning of Transmission************************** Please wait for a site operator to respond. You are now chatting with 'Brad' Brad: Hello david lonie, welcome to Client Services. May I have your email address to better assist you? david lonie: [email omitted] Brad: Thank you for your information, how may I assist you? david lonie: ok...this has happened to me repeatedly...my position which was up over $700 just vanished david lonie: granted a practice account' david lonie: but i did not close the position...I was making money [fake] david lonie: so what gives? Brad: I will look into this for you. Brad: One moment please. david lonie: i even had a Stop Loss and Limit set Brad: I do see this. david lonie: k...y did this happen? Brad: After you increased your position, and then the market went against you slightly after the last trade, you feel below the margin requirement for this position and were liquidated. david lonie: that's nonsensical...the margin should have been fine...a measly $96 would not have affected this...i was down over $2000 earlier which was way below margin and nothing happened only after i "manually" ended the bleeding...your answer does not make sense...hence nonsensical david lonie: what else you got? david lonie: this does not extend confidence in doing business with your firm david lonie: unless you can achieve some correctness to the platform...I am afraid I will have to close my Live account Brad: This is what happened in this case. Brad: One moment please. david lonie: and the case where i was going under in excess of $2000 well below margin with no liquidation? But a closure with a positive revenue is justified as liquidation? Make sense of this or I close my account. Brad: One moment please. Brad: The rate reached a high of 1.4114. At that time, the margin requirement for 900,000 lots would have been $25,440.86 david lonie: right and i was beating with the stream not against it. Brad: I do understand that. However, when you increased your position it put you close to liquidation. Once the market went against you a little you fell below the margin requirement. david lonie: my initial purchase price was around 1.4080 for 700,000 lots then I purchased another at around 1.40921 for 200,000 [your 900,000], an avg. of 1.40857 [approx.]...still your margin argument is not making sense... david lonie: I was still ahead [green] $ david lonie: i was positive Not negative david lonie: if anything the last position should have been closed Not the whole position...that doesnt make sense... Brad: Whether you are in the positive or negative is not the issue here. david lonie: sure it is Brad: When you made the last trade it put you at risk. david lonie: if i am positive $16,000 lets say, my position is not going to close due to a lack of margin Brad: It can still close if you keep increasing your position. david lonie: the only risk was to the Forex [practice] pocket book...I will be closing my Live account...this is not the only site...eToro seems to be doing a much better job on their practice accounts...which usually translates to accurate and correct RealTime awareness Brad: I do apologize for this. However, it is your responsibility to maintain the margin requirement for your open positions. When you increased the position, you put yourself at risk for liquidation if the market went against you at that trade. david lonie: "If" meant as under your meta-physical hunch? Now, you are a prophet and fortune teller...wow. Brad: Is there anything else I can assist you with? david lonie: probably not Brad: Thank you for visiting. Should you have further questions or comments please log on to chat, email, call us at 1-877-FOREXGO (367-3946) or internationally at 1-908-731-0750. **********end of transmission**************** So there you have it. I closed my account that day. Have not looked back. I was ahead kicking thier butt then they liquidated my account because "if" the market took a turn I would not be capable of a Stop Loss...I did graduate with a double major, one being Economics the other Financial Capital Mrkts. I am pretty sure I could handle a turn in the market. | David Lonie | 15.10.17 |
| SCAM | These guys are pure scam. I had like $5000 in my account and I was trading 1 standard lot with a mental stop loss (because these guys WILL chase your stop loss if you put it there). My trade was going in the right direction, then the platform disconnected. It took me an hour later to get back in and guess what, they sold my position for $600 loss. That's no freaking where near the margin, mind you. I bailed out ASAP. | Vanessa | 29.09.17 |
| SCAM | I decided to close my account quite happily in profit, & after waiting 5 days I get back my initial deposit, with no explantion even though the profit was on my last statement it seems to have vanished into thin air.......WTF? | Marcus.J | 04.08.17 |
| SCAM | Forex.com/uk , Gain capital is a total scam. They direct client to open UK account because there they can fraud clients money easily. I always keep cautious ,This year I receive emails from Forex.com promoting their service, in the email, it explained clearly that if there is unexpected market move, they can set the balance to zero and keep positions open. Customers can input the deposit then continue to trade. Based on this email,then I increased positions three times to 750,000. However , my position was immediately liquidated by them dated May 22. I complained to them via Live chat, Dan responsed , this email is just courtesy, it can’t mean anything. I am in the process to sue them if you have good solicitor or have good advise about how to sue them pls email me : lodgewide@hotmail.com | Shen | 01.08.17 |
| just about every negative comment that was mentioned plus some of my own i can relate to big time with ROREX.COM. the problem is i have been dealing with many broker over the years.as yet to have one on a scale of one to ten, one being perfect ,the best -30.these folks belong behind bars.until they have somthing like the FBI, overseeing them with the power an funds to properly operate, personnel properly trained, with a passion for Justice,an not a steping stone to be hired by big Bank.untill that happend, we will continue to be FOOLS.us FOOLS create more JOBS than any other sector, an get treated like ,S. I have a passion for what i do, now if i could just get the protection i deserve. we need a modern day ELLIOTT NESS. | tom | 24.07.17 |
 | Hi, i am working with Forex.com for 2 years now.A few months ago i have decided to open a MT4 account with them.But i actually become a customer of and afiliate of them which is Gain Capital Forex.com.uk.After i started to trade and open another account for working through Zulutrade station they have send me a notice in wich they are anouncing me my boths accounts are terminated .The problem is that i am in DD position right now and they will profit from my loss as they are asking me to close all my open positions on monday morning or they will close them for me .Bellow i will show you the notice they have send it to me .I have to tell you that they didn't phone me before that and ask me something that they found it unclear.They don't care about customer and please stay out and run away as you can from this brokers because is so simple to let you open an account and then they will terminate that account without you being able to decide anything .Please look bellow what they are sending to me : Dear John Smith, Please accept this letter as formal notice regarding FOREX.com UK's recent decision to close the above referenced FOREX.com UK account you hold with us and effectively terminate the customer agreement between your person and FOREX.com UK in full accordance with the agreement with such termination becoming effective as of the date of this letter. As a result of a recent review of your account activity, we determined we are no longer in a position to continue extending our services to you. As such, we have determined to close the account. Please note your account appears to have open positions and has a current remaining balance of $1730.36. You will have until 17:00 PM on July 12th to close your position. After which time we will automatically liquidate all open positions and terminate your account. To receive your funds, please complete, sign and submit the attached withdrawal request which is provided herein for your convenience Should you have any questions following this communication, please feel free in communicating directly to Compliance@Forex.com. I thank you for your time. Thank you Kind Regards, David Fan Risk and Operations Manager GAIN Capital | John Smith | 10.07.17 |
| woah woah woah keith, you've studied forex for three years and are a self-proclaimed master? come on now, that just sounds ridiculous. Many traders go through many many many years of trading and do not call themselves experts. My personal experience with forex.com is not all that great. So far I've placed just over 1000 trades with them. I've only been trading 4x for 2 years and have live(account) with them for only over 8 months. I've tried fxcm's micro crap, and though I've heard some people talk up there standard accounts, their micro platform just looks like a turd smearing my screen. I'm using the MT4 forex.com platform, I'm not a big fan of the spread, gbp/jpy gets a little bonkers here and there, so i dont scalp it. I've been losing money to my own stupidity for the last 6 months, and it's been a helluva great learning experience. it's not like i put my life savings in here, and if you did, you shouldnt be trading, trade with money you don't NEED to pay your rent with. Forex.com has not closed any of my trades. out of 1000 trades ive gotten 2 wrong contracts. (trying to play gbpjpy but got gpdchf or something like that) again, my fault, i should have 2x checked the trade. im only 23, and plan on continuing my learning experience for a loooong time. if you can't take the pain, don't play the game! STARCRAFT 2 IS COMING OUT SOON SO QUIT F*CKING CRYING AND GET READY TO RUUUUMMMMBBBLLLLLLEEEEE! | jon | 30.06.17 |
| SCAM | illegal unsolicited trades on accounts, loss od position, lquidation issues as a result of illegal trades (crosses NEVER traded before), misinformation e.g. Dallas Fed Man. Index (0 vs. -17.5) resulting in incorrect positioning, large volumes, computer errrors and backlogs on orders, liquidations. Positions lost, funds erased. BIG SCAM! BEWARE! DO NOT USE THEIR SERVICES! | mark hacking | 28.06.17 |
| SCAM | This company is a scam. I know exactly what I am doing in the market. i studied it for 3 years and I practiced it for several months on a demo account of theirs. I finally opened a new account with them and guess what? 1. Their live server is dead slow making it impossible for u to make your moves on right entry and exit points. 2. They keep saying they are adding new servers. But it is a bull. You call their 800 number and the same guy who I was chatting on the live chat picks up. That is how small these people are. 3. I ask the guy Damon to give me the department who is in charge of technical assistance and he says he does not have any because they are internal numbers. They make the live servers slow so they can force you to lose your trades. I as an expert trader finding it difficult to trade with them. SO ALL THE NEW GUYS....PLEASE FIND ANOTHER BROKER AND HAPPY PIPPING! | keith | 17.05.17 |
| I'll make things simple by saying that their system is SO RIDDLED WITH CODING ERRORS that the website MADE RANDOM ORDERS ON MY ACCOUNT. I don't blame you for not believing me, but it's the truth. Please, for your own good, stay away from Forex.com | None | 15.04.17 |
| I have been with them for two years now. I can say they are not a scam. yes i have drained my account so many times being with them but now i am making money. No pain no gain :) I am not blaming them, because it it was due to my incompetence. I do not scalp with them. My strategy is medium term, so i do not give a shit about slippages and news. They are competent and have a good support team. There have been no problems withdrawing money from my account either. Conclusion: Those complain who can not trade. Cheers and good luck! | Timur | 03.04.17 |
| Well, you should know that forex.com has a special aggrement with bank of america, which states that fors.com will provide BoA with the list of checks they authorize to cah out. So if you closed ur acct and Tradesatation send you a check, which is from Forex.com, that check maust be on the list.. When u go to BoA they never can get hold of forex.com. So u end up running around and making calls to tradestation people, who also have no idea about that. I am having a check from forex.com, but Boa can not even accept it for deposit.... it's already more than a month. Maybe it makes more sense to pay them 25$ and do the wire...? | VS | 28.03.17 |
| LET ME DOWN BIG TIME! I am furious with Forex.com. I trade Forex full-time with a large live account and I know what I am doing. Until recently I was reasonably happy with Forex.com. Here's what happened to make me change my mind and start looking for a new broker: I 'Martingaled' a position after very careful analysis. Btw 'Martingaling' isn't something I often do or recommend for beginners (or the faint of heart) and definitely don't do it unless you have a large account AND you know EXACTLY what you're doing as it can seriously bite you in the a**. I was in a trade which had been losing money but had reversed and was shaping up to be VERY profitable. As insurance, I reduced my position (just in case I wasn't correct) and the next thing I know my ENTIRE position was liquidated due to a separate order being placed by their system. AN ORDER WHICH I NEVER EXECUTED! No stops were triggered! WTF??? What was about to be my all time most profitable trade ended up being a very sizeable loss for me!!! When I called them they said I must have done it! What? Why would I do that? Basically they accepted zero responsibility and insinuated that I obviously don't know what I am doing and I must have done it! Unbelievable! Btw as a side note, it turns out that my strategy proved to be 100% correct and I would have made an outstanding profit - thanks for nothing Forex.com! Other issues I have had with them include - - Charts are sometimes slow when compared with other trading platforms. So what you think is happening ISN'T actually what IS happening - I observed this phenomenon most on their 5min chart (I have video evidence to prove this!) - Issues with withdrawal requests e.g. they would just cancel a withdrawal request even though I had a large account and almost 100% margin available. Also delays in receiving my money e.g. they say 1-2 days but sometimes I have had to wait 4-7 days to receive my money. - Telling me my bank account details are incorrect when I triple checked them AND they are correct AND it's the same bank account details they used to previously do my withdrawals. - On their website they say that as a non-US customer you can deposit funds into their bank account. This is when the fun begins! On their site they list their bank account details. So I go online into my bank account and setup an online direct transfer to Forex.com and to make it easy I include my Forex.com trading account number as a reference for them. Then (and this happened EVERY time!) they would email me after a day or two and say they don't know where the funds came from?! What? I would then have to print off a statement and either fax or email it to them to 1) Prove it was my money to begin with!!! 2) Show it is my bank account! Seriously let's get into the 21st century already! - I also had to get on their case and keep asking them to release their bonus/incentive funds to my account even though I had more than met their trading requirements. To be fair there are a few plus points: I would get my money deposited into my account eventually, monthly interest paid on account balance was nice, decent enough 'Live Chat', no withdrawal fees (due to my account size) and quite decent promotions from time to time. Anyway I think that's enough and I've made my point. My tip, find a broker you feel you can trust - this is crucial to Forex trading success! Forex trading is challenging enough without feeling like your broker could let you down at any moment. Good luck trading! | Chris | 14.03.17 |
| I am a very frustrated customer of their MT4 UK accounts. Today, March 11, 2010, their system has been down all day. On top of that, they have been very unaccomadating and are unwilling to make any compensations or even waive swap fees. I do not and would not recommend this broker to anyone. | Anthony | 12.03.17 |
| Good service and spreads. People who think they are scammers do not understand how they make money. They make money of the spread. They want people to make money and continue to trade because thats how they make their money. Look it up. They're trading data is publically available. | Trigga | 02.03.17 |
| We are expert reviewer of Forex brokers and it is urgent to say that Forex.com is a good broker, opposite to most of the reviews found on this site. Every reader should be aware of the fact that most people are disappointed because of losing their money. But it is not the broker's fault; it is the traders who took wrong decisions. The biggest problem is that people are trading Forex without really taking care about risk warnings, that this is not suitable for everyone! | stocks-for-beginners.com | 02.03.17 |
| This is the best broker that I have ever use, because the spread is good, fast and a lot of instruments. I trust in Forex.com because their domain is a top domain and also they are very safe. Because listed in CFTC, FSA, and also in NYSE. I have been used forex.com since 4 years ago through their IB in Ecnpro.com and never found any problem. Currently my equity is around $153,000 | Harris | 17.02.17 |
| SCAM | Total scam. Be very wary. I loved their demo account and had good success with it. When I went live with forex.com, everything changed. I suspect they are engaged in illicit activity. I was involved in an online forex school that highly recommended them. When live trading with them proved to be so impossible, compared with the demo, I began to feel that I had been set up. This is just speculation and may be way off base, but they definitely work hard to ensure that you do not profit. I don't believe the reviews about making huge money with forex.com. I suspect the broker wrote those. I may be fairly new to forex, but I do pretty well at it, as long as I am very attentive. I am not simply a forex idiot who is blaming the broker for my failures. Something very strange happened while trading with this company. I would NEVER use them again and would never recommend them to anyone. | Pamela | 22.01.17 |
| I trying to close account and withdraw money. They claim that they did not get a withdrawal fax (I have conformation), than they give you out of service fax number, then give you another fax no and then they claim that they never get it (I have conformation), etc. It looks like that they trying to avoid reception of withdrawal orders any way that they can. Still do not have my money in my account, I am still in processing. That supposed to be done in two business days. They need NFA audit, that I am very sure. Probably I will have to file a complain. Overall platform worked well, over the years I had no complains regarding anything. | forex.com user | 03.01.17 |
| SCAM | It's amazin how many techniques and fakes Forex.com uses to steal all you pips. I started trading some currencies with 2-3 pips of spreads, that suddenly and continuously becomes 8-9 pips of spread (thanks to dynamic spreads) when you are going to collect "profits"!! 8-9 pips stolen for each trade is crazy!!! DON'T OPEN LIVE ACCOUNTS WITH FOREX.COM, DON'T PUT MUCH MONEY ON IT!!! | roberto | 03.01.17 |
| Keep in mind that 95% of retail Forex traders lose because they don\'t have the slimmest clue of what theyr\'e doing.. They try to play tennis against pro tennis players and just can\'t understand why they lose their money. Look, Gain isn\'t the one taking your money, it\'s me.. I\'m one of the 5% who spent years studying and you\'re one of the 95% who over-leveraged themselves, spun the wheel and said \"black\". Guess what gamblers, you lost. Every transaction requires a counter-party and 99% of the time that counter-party is not the broker but other traders. I hate these review sites because they\'re dominated by losing traders crying \"It\'s a scam\", \"They stopped me out\". Yes, this whole trillion dollar industry is a conspiracy to knock you out of your cheesy $10,000 position. Try using less leverage, move your stop loss to a reasonable, meaningful position and THEY CAN\'T STOP YOU OUT. If you get stopped out by the broker it means you took a very bad position.. Gamblers lose, so did you, stop whining.. | Kyle | 26.12.16 |
| SCAM | Forex.com company stole my money I was a customer of Forex.com company. One day i got a profit on currency trading. I took my profit and i was happy with that. But after 2 minutes all my profit disappeared and a very large loss appeared. First i did not understand how this can happened. I thought this is a software error and i restarted my trading platform. Nothing changes. Then i checked my trading history to see what happened. And i found three false bargains. I did not make those unprofitable bargains. I tried to ask Forex.com representative why they put three false bargains on my account. But he did not want to talk to me. So Forex.com company stole so much money from my account. | Alex | 26.12.16 |
| platform buggy, but overall they are not bad, always filled orders as expected, very good customer service. i dont know what all these folks are talking about, i found them to be just fine. my main complaint is that thier windows based trading platform is mediocre at best. | sal | 15.12.16 |
| I use GAIN (Forex.com) with NinjaTrader. I have yet to have any issues with the company. Opening was easy, deposits were fast and data is reliable. I find it funny that all these posts talk about trades liquidated for "no reason." Apparently, these people have very low account balances and shouldn't be trading at all. I have never had a position liquidated, but perhaps that is because I have a large enough balance to cover the size of my trade. This company is definitely NOT a scam and it is sad that so many people mark them as a scam because they have no idea how to trade with high margin levels. If you labeled this company as a scam you either a) have so little money that any trade you make is vulnerable to volatility and they see that as a risk and liquidate b) have no idea how to trade with margin or c) are st*pid enough to leverage your whole account on one trade. All of those deserve to have your position liquidated. I highly recommend either they NinjaTrader or MetaTrader platforms, as any real trader would recommend. I was very excited to see NinjaTrader teamed up with GAIN and you get a free copy of NinjaTrader. For all of those *diots who think this is a scam: why would NinjaTrader (one of the MOST POPULAR trading platforms for real traders) team up with a company that is a scam? They wouldn't. You are retarded and shouldn't be trading currency. Let me guess, you opened a futures account too and lost money because you leveraged your whole account on one contract? Learn to trade. Great company, period. | Daniel | 09.12.16 |
| Hello, I have been using a practice account with Forex.com or Gain Capital for about 2 months now and I have never had a problem like stated above. A lot of time I think the customer does something or doesn't understand something then just blame it on the company. This is especially true when the customer losses money. I say try the company out for the minimum deposit of $250. If you do not at least that much to lose, then you are in the wrong market. Thanks, Nick | Nick Bordeau | 05.12.16 |
| SCAM | Avoid Forex.com. Never open an account with them, never send any money...if you have done it close the account and move somewhere else.....I've had a hellish beginning with them...I had bad feelings but Ithought , what's the heck ...people entrust them with millions of $ , they would not scam me of measly $1000 which I intended to open my account with. When I filled the application and sent to them I was asked to provide them with two pieces of Id, one of Id verification and one for place of living. I am Canadian ...I sent them Canadian Citizenship card and driver Id with address. I was also pushed into sending money before even the account is open (to speed up the process) ...So I did..... Then I am getting response that the driver's liocense is O.K. but my Canadian Citizenship card is NOT GOOD as an ID document BECAUSE IT DOES NOT HAVE !!!!!!!! EXPIRATION DATE!!!!!! (Like citizenship is something expiration date should be put on)). So I sent my government issued health card, containing my address and expiration date ..... NO good ....It has been already almost a month since I started the application process ...They requested some utility bills or other correspondence ...citing some HOME INSECURITY LAWS or some other NAZI GESTAPO RULES ...I felt interrogated like some criminal or Terror Suspect...I went to another company, which is reputable ... they opened the acxcount with only driver's license ...no questions asked within 1 day. I decided to not bother anymore with Forex.com. I called the company and requested my money back ...the lady from customer service started first to do pitch sale to discourage me from withdrawing the money...I said no ...I told I want my money back She promissed to wire them immediately ...she told me also she does not need any wiring instructions since she knows where the money came from ...... After few days I called her to enquire about the status of the wire transfer...She told that she did not wired the money because I should sent them "Wire request form with signature"...This is what I've done it..... waited another 10 days ...money did not come to my account....I called the lady again ...She tell me that they cannot comply with the request because I don't have account with them ..... pitching me again to open the account ....I refused ...so she told me that then I have to go to my bank and make "RECALL" of the money ... it is what I have done last week ...over 5 days ago .....Today I checked in my bank ...THE MONEY IS STILL NOT THERE....The bank is going to trace what has happened to the money ......I am waiting!!!!! More and more impatient... DON't DEAL WITH FOREX.COM ...they are crooks and scammers .......They will scam you from the beginning and you will fill like a cr*p after you get s*cked into their game ....... R | rob | 04.12.16 |
| Very nice trading platform, lots of freebies upon joining. Fast and courteous customer support. No problems to this point, I think the scam ratings are from people who had no clue what they were getting in to. | wyclef32 | 02.12.16 |
| SCAM | Except for one guy who says he made 500k (seems like a fishing story) everyone else has lost money. However, of the people that have lost money there seem to be two categories. There are those who lost and blame the broker and there are others who lost and blame themselves. I put $2500 into forex.com and traded for over six months and lost all of it. They promised me tighter spreads and charged me wider spreads, closed me out at the wrong time and pulled a few stop loss tricks as well. I thought I was duped but reading some of these posts I am beginning to think this is a real bucket shop. Regardless of the fact that we are bad Traders and whine after losing, I think there is more than enough unethical behaviour here to require an investigation. Has anyone tried reporting these guys to the NFA ? Any luck with that approach ? | Rajesh | 01.12.16 |
| SCAM | Forex.com =questrade Canada scam On Thursday night sept 4th I was short gbp/jpy and entered a one cancels the other stop loss and limit order. The market was moving very quickly and ended staying up all night making good money. I stayed short but when Friday morning came and the trend reversed before I could get out I thought I would remove the stop loss because I believed that the market would go short again in the following weeks. I went to the positions manager window and tried to cancel but the cancel button would not work so I hit the modify button and modified the position to read zero stop loss and zero limit. I then went to my reports page so I could copy the info and to verify that it had gone through but I could not get any reports to work on my system. I thought it was my computers fault so I rebooted my computer and re -started the trading platform. I was still not able to access the reports. I went to see if I had to update java since it is a java platform but it was updated already. By this time it was almost 3 Mountain Time and questrade would be closed and they are very hard to get a hold of anyway and I had to get ready for work. I checked again to see if I had cancelled the stop loss and on my platform it said that I had and all the numbers were at zero so I thought I had nothing to worry about. Also my wife was there with me the whole day and witnessed all that I had done. on Sunday when I opened my platform I had no open positions and again thought it was my computer glitching so I rebooted it a few times to see if my positions would show up. to no avail so I phoned forex.com the parent company who owns questrade and told them of the situation. the man there said he could see no reason why my positions were closed as he did not see a stop loss entered and there was no reason for a margin call, but he said I would have to wait till Monday to talk to questrade as they were the ones who closed my positions. on Monday I spoke with Paul the manager who always is rude and arrogant with me and said if I had a bigger account and traded more then everyone would be happy and this would never happen. he then said I would never find proof of what I was saying and that they were going to stick with the results of the stop loss and not compensate me in anyway as I could never prove anything that I was saying. I accused them of manipulating my trading platform and of erasing all the electronic footprints and of shutting me out of my reports so I could not verify that I cancelled the stop loss. he said he didn't care because I could never prove it. please help me in dealing with this company and this problem. has anybody had problems with these guys. sometimes just before big news announcements or before or during big market moves I will not be able to get on my trading platform. they have very limited calling hours and are very hard to reach but when I do get through they will say that no system is perfect and that there are times when there are glitches and that's just a part of the risk of trading and nothing they can do or will do about it. I got the same answer from fxcm when they do the same thing but eventually they reimbursed me for some losses and admitted it was their fault the platform was not working, but it never truly compensates for all the stress and missed trades and huge losses experienced because of this. are there any brokers who do not do this. who do not make it impossible to get on the platform to trade or to even get them on the phone. please let me know. also be aware of this. if you have a margin call they will let the trade go way beyond the required margin and even if it's more than you have in the account they will demand you pay the dept. in their hand book it clearly states that a trader can never lose more than they invest. in real situations though it can happen and they will say that the market moves fast and that's the best price they could get. I fought this though and after many fights over the phone finally won a bit and did not have to pay the amount over and above my account balance but I never got back the amount required for margin. so please beware you can lose more than whets in your account and certainly every penny of your account. please be aware that some companies have complete access to your trading platform 24 hours a day whether you are on it or not. questrade has and knows everyone's password to their platforms. some companies do not allow this because they can not regulate and be responsible for every broker or worker . but questrade has found a way to erase all electronic footprints of any thing at least that's what is implied by what they say and do. so be very careful of the company you deal with. they have all the power to manipulate anything and to get away with it legally. questrade has all the password knowledge so be careful | forex.com questrade | 15.09.16 |
| I've been successfully trading equities for seven + years and decided to try currency trading. I opened my account in August after a cursory review of other sites. I admit, I was very nervous about it after reading all the reviews here. But, I have to say this site is very good! I really like the trading platform...easy to use, clean and a good setup. This is DESPITE me having performed rather poorly in my first month of trading currencies. I understand there is a learning curve and I know I'm going to get better (my performance the last week of August has really turned around). The deposit/withdrawal process is just fine and the live online support is great as well. | E.W. | 31.08.16 |
| This amazes me, how much people can whine about certain broker (not only forex.com), that this happened and that happened. Come on - just admit you are not a sucessful trader and thats that. Many of you dnt realise that it is NEVER EVER the same if you trade on demo and real money. It is where that 95% comes in - its in your head. I have been trading with them for 5 years now, and no, im not a big time shot making millions a month, im that guy with few thousand dollars to play with. Yes, there have been some problems with forex.com, both technical and peoples fault, and also my fault as well. So, here are the downers first, some are just my wishes, but nevertheless. 1. First-in first-out policy - i dont like that, but then again, it is now possible to close individual lots manually, but you cant put orders on those. 2. Support people are sometimes unaware of whats going on, and yes, for that alone it shoud deserve 1-2 stars at best. Then again, it depends, and you might get a helpful person on the other end of chat/phone. 3. Spikes and lag during news, yes, sometimes 30-40 pips, but that goes for all brokers out there, and forex.com isnt the worst from which i have tried. 4. Difference between charts and prices given, sometimes 10 pips or more. Not very helpful for sharp scalping. 5. No hedging of positions. (tho i might be wrong about that) Probably there is more, but i cant remember on the spot. Now, the good: 1. The money depositing/withdrawing - never ever had a problem with that: wworks like a charm for me. Yes, it takes some time, but thats true for everything. Keep in mind, that a standart wire transfer takes 10 bank days to go through (2 weeks), checks can take 2 months, so if you are small time player, use getting back to credit card, if possible. 2. Unlike some others out there, they dont have that awful thing that you can put orders only 5-10 pips away from your position, can take even 1 pip if you like. 3. Their inside commentary, analysis, strategies are quite good. 4. Access through mobile phone - i use that alot to see whats going on, while not at computer. So, to underline all this - if you are new (i mean you have traded few months on demo), dont go for this, try to find some place where you can trade supermicro FX, and dont put all your money in there. To start with $250 is just rediculous, you are almost guaranteed to lose it. LEarn your ropes before you start, because as i said, its totally different psychology when you trade with real money. So go on, find a place where you can put $20-30 and play with 1cent a pip, and do that for at least 6 months before you go any further. If its not working - probably forex market is not the thing for you. Go trade stocks or play lottery or casino. Educate yourself, read books, maybe even go to some seminar or something. Forex.com is one of 3 platforms i use, and if i were not so paranoid about saying "dont put all your eggs in one basket" i would use that one alone. Last but not least - im not working for them, nor am i affiliated in any way, or paid to write reviews. Just a happy customer (most of the times:)). | Andris | 28.07.16 |
| Forex.com is in the business to make money. My main problem with them is that the interest rates they pay on open position fluctuates on a daily basis by a very wide margin. Other than that, every other money I had lost trading with forex.com had been my fault--opening too many positions, impatience, and worst of all, not fully grasping the concept of forex trading. I have now learned their tricks and using it against them. It works! | NPIATO | 25.07.16 |
| I have tested this company with close to a hundred demo accounts on the MT4 platform, using diferent names. I also tested forex.com with 5 live accounts for me and my friends so they have me in diferent names too. Let me tell you also that I tested about 30 other companies with demo accounts and about 3 other companies with live accounts. I found out that Forex.com stands out to be the best in both demo and live account. I never experienced any cheating in the live accounts, I had spikes that triggers my profit limits rather than stop loss. Another point I want to make about this company based on my experience with Forex market. The only demo account that emmulates live account nearly 100% is one that you open with Forex.com. You get as many requotes in demo account as in live account, there absolutely no diference between demo and live accounts, so after losing some money, I practice now exclusively with forex.com demo accounts. It is the only company I can recommend for anybody. contact me at forexbody(at)gmail.com if you like further confirmation. | Emmett digimode | 15.06.16 |
| SCAM | Forex.com company stole my money. I was a customer of Forex.com company. One day i got a profit on currency trading. I took my profit and i was happy with that. But after 2 minutes all my profit disappeared and a very large loss appeared. First i did not understand how this can happened. I thought this is a software error and i restarted my trading platform. Nothing changes. Then i checked my trading history to see what happened. And i found three false bargains. I did not make those unprofitable bargains. I tried to ask Forex.com representative why they put three false bargains on my account. But he did not want to talk to me. So Forex.com company stole so much money from my account. | Alex | 10.06.16 |
| SCAM | Don't use this broker! I Deposit 500$ and when I wanted to withdraw them, the site showed a error. I contacted the LIVE support and the assistent didn't even knew what to do. Finally I got help from another assistent, that sent me a link to another applicationform - but here I should provide them with informations, my bank didn't even hat! I am starting to think that all this Forex Trading, is one big scam, made by the gouverment to give us, normal people a falsh hope of making some money, but instead they rip us for even more then we have! | D | 30.05.16 |
| I completely disagree with all the other "scam" ratings. They offer great educational tools and have superb customer service. I have never been closed out of a trade--either winning or losing--against my will. | Richard | 17.05.16 |
| SCAM | I cant get back money after i register! I wanted to change platform becouse the one they use is not good enouth for me. Then they complain about same adress is not right thats why they cant transfer back the mony i transvere to them. I wondering what my adress have to do whith that. If i transver mony to them 1 hour earlyer whith my credit card and they accept it. But when i want to take out it then its wrong whith my adress. As long as the mony go to them then its ok but when mony go from them then its problems. | Jocke | 16.05.16 |
| SCAM | change up the technical indicators to get you out of winning trades, their highs and lows for the period 'mysteriuosly'coincide with your stop loss orders, they will use the volatility of pairs like gbp/jpy to constantly stop you out, yet when you check the rate on a live feed...your stop shouldnt even be touched, Pressure you to open an account and the list goes on.....it took me a loss over $25,000 to realize what this company was about...i am from jamaica west indies and i feel i've been robbed. their must be some legal recourse, is there? | junior | 09.05.16 |
| I trade two services and make my living full time with FX. These ratings are now useless. They are filled by people who lost their *ss with st*pid trades and can't accept that. I use FXCM and Oanda. But my two friends who also trade full time use Forex.Com I have personally taken 300K out of FXCM over the last 6 months in profit. Thats net withdrawels. These three services are not scams. They make a lot of money on the spread and interest and its to their advantage for you to make money and make more trades. Remember, when you make money, they hope its from other services and leads to more trades. I have other 1400 trades on the sites. I looked at my spread and commisions (FXCM has a commision for gold members, but ultra low spreads), it was over 30K last year. No wonder they like me. But my profit was over 500K. It's not a scam and not impossible, but its a full time job for me. I spend 12 hrs per day 6 days per week studying. I read every paper in the world and spend hours on my charts. So ignore these fools. But treat it as a job and do your homework. If you treat it like Vegas, then you will lose just like Vegas. This is my career. No different than being an banker, doctor or lawyer. I get paid very well, but I have lots of stress, many sleepless nights trading the London market and days where I lose 10-20K. But the days I make 20-50K, they make up for it. From what I see, FX trading is very binary. Either you can do it or you can't. So most either lose their money or make a ton of it. Luckily, I fall into the latter. I use the different sites for diversity and each does have something unique. My friends like Forex.com becasue it has the web platform and hand held platform. I like Oanda because it has unique trades such as trading Gold versus USD at 50:1 and also you can vary leverage for each trade. I really like FXCM becasue of the simple interface and the daily news and trade forum they have. FXCM.com has also now added a web platform. Its nice for trading on your vacation when you promised the wife to not trade and do it anyway on the hotel computer. I don't have another job, but I could see it being useful for trading at work. I am definitely proof that they are not scams with my withdrawels. I remember reading this forum after I had made my first 200K using FXCM.com. The next day I took out 100K because I was paranoid. No problem, was in my account in three days. After I become a gold member with 10 Million in trades per month, the next wire xfer was one day. Gold members get preferred treatment. So if you want to trade forex, any of the three are great. I realize that not every site is legit. But I think you can trust the biggest outfits as they are making more money on the spread and don't need to scam you. Maybe all of Wall St. is a scam, but these brokers are no different than Schwab or Merrill Lynch. You can lose your *ss if you don't be careful. I also like the interest rollover of Oanda and FXCM (I don't know the Forex.com rules) versus some other brokers. FXCM charges or pays a simple interest per day the trade is open. Some brokers use a different system and it seems to penalize carry traders. But I am used to the Oanda and FXCM way, maybe the others are fine once you understand the way they do the rollover interest. | S dalton | 26.04.16 |
| SCAM | Hello folks... Welcome to the world of FRAUDEX, which is at least how you'll feel once you've been with Gain Capital ... same as Tradestation Forex Broker- BEWARE!! you have a position on, news happens, you get out and they claim you exited too fast.. cause they'll go after a stop that isn't even there anymore - aka stop hunting/fishing - and will screw you BIG TIME every time you get out with a profit, they'll get you in again with similar excuses... ABSOLUTELY INCOMPETENT!! I'm so dissapointed and Disgusted I feel like giving up on Trading Forex... my question now is .. since abuse of customers is so wide spread amongst these forex brokers, WHEN THE HELL WILL THE GOVERNMENT STEP IN AND REGULATE THESE CRIMINALS?!?!?! CAUSE THAT'S WHAT THEY ARE!! THEY'LL TRADE AGAINST THEIR CUSTOMERS AND NOONE IS DOING A THING ABOUT IT .. SO THE ABUSES WILL CONTINUE AS LONG AS THE GOVERNMENT(S) DON'T DO A THING ABOUT IT!!! STAY AWAY, CAVEAT EMPTOR!!! YOU WILL LOSE MOST IF NOT ALL YOUR MONEY LIKE MANY HAVE - IF YOU DON'T BELIEVE ME CHECK OUT OTHER FOREX RATING WEBSITES AS WELL- PEACE! | anomymous | 22.04.16 |
| SCAM | They hunt your stops and the upward (or downward) movement will be determined by the amount of money you have to lose. I have recorded, using three separate accounts, that each time I earn a profit, that profit is taken on the 'next' trade based on how much money I have in my account. For example, in 100% of the closed positions, the market price reversed 1 pip above or below my available position. 1 pip. Last night, Forex.com closed my EUR/USD position at 1.5573 when I could afford 1.5572; this happened at 5:42pm and then the price dropped 60 pips immediately after closing my position. This has now happened more than 100 times, using 3 separate accounts that I set up using three names; my wife's name, my name and a friend's name who agreed to put $1,000 into our test. Forex.com are simple fraudsters, nothing more or less. They manipulate the market based on their client's data (i.e. balance of account, stop or limit orders, current position). With this data anyone with a trading account could manipulate the market and that's what they do. Think about it. Answer one question: In 100 tests, why does the price reverse 1 pip after closing my position regardless of whether I am buying or selling? If you can answer that question email me at greg@w3rez.com. | Greg Smith | 13.03.16 |
| SCAM | WOW!! Didnt take me long to realize what these guys were doing. They just close you out of profitable trades for any given reason. I think they are betting against you. if you win...they will shut you down. Im unbiased because i know there are good brokers and bad brokers. You decide for yourself... but out of 3 brokers......These guys definetly have some sort of money racket going on. Im betting that if Gain Capitol were to get investigated....they would be shut down. Needless to say...they have lost my business. | DM | 11.03.16 |
| I have had a practice account with them and I don't trade a lot but when I do step up my trading the trouble starts. They put me in two positions that I never inichiated. They told me I placed a limit order and I didn't I am glad I never gave them real money, I was about to. | buffy | 29.02.16 |
| Never received one solicitation from them regarding training course and as a telecommuting graphic desiger im very sensitive about my business email. I'v made money but the only time I ever lost was due to my greed and urge to take bad positions...when in college i was told to be drafted by the White Sox would be something terrible and never to sign for their organization s*cked at the time. If I would have listen to that *diot I would have never received and experienced the opportunity. | D | 03.02.16 |
| SCAM | I opened the dummy free account just beacuse I have seen them advertised on MSNBC. A lady with a very heavy asian accent kept calling me everyweek. I told her that was a free account to get some practice. And of course several emails later and calls I figured as much this was a scamm. I do trade stocks on Ameritrade and unless I needed some assistance, they never ever bothered me. If this was a legit business, they wouldn't have needed to bother people that just opened a practice account. | LC | 25.01.16 |
| SCAM | In the agreement It says very clearly that they can cut off your information, and can provide you with inaccurate information. If that is not a scam then scams don\'t exist. They will steal your money the first chance that they get. | Reading the agreement | 18.01.16 |
| SCAM | They keep calling you asking for information and persuading you in a russian accent. After you have not made a real account they keep on spamming your email with forex course offers... | Anonymous | 16.01.16 |
| I have been trading futures for a long time and decided to try Forex.com. I made $3800 the first week and $700 this past week, even though it was a holiday week. When the market closed at 5 P.M. Friday night, I stepped away to take out the trash. When I got back I was shocked to find out that I was filled on my stop-loss and stop loss plus reversal orders over 85 pips below the closing bid-ask spread on two currencies. This put me at a loss of $1400 from were I was four minutes ago! I contacted three different departments via e-mail about this, and they did not respond. I then tried the chat option. I asked what hours may I trade forex. I was told 24/7, Sunday evening through Friday evening. I then asked what time does the market close on Friday night. I was told 5 P.M. I asked, then why was I filled on multiple orders at 5:03 and 5:04 P.M., after the MARKET CLOSED to stop me out of my positions and reverse me some 85 pips below the ending spread? I was then told to wait for Jonathan. Ten minutes later another operator entered the chat session and \'Session ended by operator\' appeared, and I was not allowed further communications! This is the most dishonest trading firm that I have dealt with in 15 years. | Steve in the U.S. | 07.01.16 |