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FOREX.com Review Scores


Overall score: 3.4 / 5

Total votes: 93
Platform
1
Pricing
1
Customer service
1
Features
1
1 - Worst 5 - Best

FOREX.com Discussion

RuBen Kenoki (paivarm)
Jun 22 2020 at 19:58
18 posts
This is a horrible broker... stay away from them.
I shared my expirience with them in FPA and FF.... now I'm going to share here, hope to help everybody to don't go with that players.

Hello traders,

I'm going to share my horrible expirience with that BS broker.
I did a report in FPA and the idea here is share the kind of problem you can have with that broker.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
========================================First FPA Posting=================================================

May 1, 2020 - 1 Star

I'm trying to withdraw my profits from those guys and they asked dozens of confirmations and everything.... ok, so far, no problem, all of them are very good to deposit and horrible to withdraw, forex.com isn't an exception.

I sent all documents and confirmations they asked.. billing, bank statement, selfie holding my passaport all kind of [email protected]#$% they requested... and here I'm, so far almost two months to withdraw only $100 bucks.

So, my advice... stay away from them.
=================================================================================================================
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
========================================Forex.com reply me===============================================
Reply by FOREX.com submitted May 22, 2020 Ruben,

Thank you for sharing your experience.
We sincerely regret that your withdrawal experience has been less than satisfactory. While we strive to make our withdrawal process as seamless as possible, we must balance this with our duty as a regulated firm to verify details under the “Know Your Customer” (KYC) and Anti-Money Laundering (AML) guidelines set forth by our regulator.
In some instances, we are required to verify the source of funds as part of standard operating procedure. Typically, we do not need more than one bank statement issued within the last six months, and once received, the withdrawal is processed.
If your situation has not been resolved, please contact our support team via live chat on our website, or message me privately with a way to contact you so that I can help to address your needs. Please do not include account-related data.
We value your business and hope to continue being you trading partner.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
========================================My FPA Reply to Forex.com==========================================

I posted a review telling about my withdraw problem and they reply saying that it happens because they suspect I'm doing money laundry...

You guys are JOKERS and should change your business.

So I deposit $300 USD using my Card and after long time I did some profits with you horrible plataform... tham I tried to withdraw $100 bucks back to my card... and your answer is that I'm doing money laundry hahahahahah

You guys are horrible!!!

=========TRADERS, STAY AWAY FROM THAT FOREX.COM COMPANY=========

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>


So, guys.... once more, that broker is dangerous, I'm facing problems with them, and now... just to let you know, for each email I sent them with a tentative to withdraw my money, they applied $50 usd of TAXES.

Guess what???


They vanish with my balance and now I can't login into my account anymore.

You can see below a little bit of my msgs with Forex.com.
I did everything they ask, but every response from them, they create a new problem... so that's it, lost my initial $300

I code my own systems, you should try yourself.
OneTime (tsharp56)
Sep 26 2018 at 10:19
1 posts
forex.com has disabled the investor password option and will not allow charts from their MT4 to be transmitted to myfxbook. Looking for a new broker that accepts USA clients.

Aaron Justin (weir11ron)
Mar 06 2018 at 15:45
1 posts
If you don't live in the USA or one of its territories then you're taking a gamble. The same would go if I (being from the States) would open an account with an offshore broker that's not regulated by CTFC. I'm not worried at all about trading and making profits with this broker because if I can prove my wins and they don't pay up. They would be paying out more in the long run fighting in court, and losing.. They know this and so does the brokers that a regulated in your home country.

Winning so much it'll make your head spin!
Dustin1772
Feb 09 2018 at 15:06
6 posts
I just closed my small account with Forex.com yesterday after discovering they have been charging me $15/month as a 'data-fee'. I never received any warning that I would be charged a 'data-fee' and would have closed the account immediately if I had been warned. I will not do business with a company that decides to start taking my money without some sort of heads up.

Mike (kc8yty)
Jan 10 2018 at 07:07
39 posts
Haven't had any issues with the broker. Wonderful customer service and spreads are decent. I'm currently running a profitable EA through their MT4 Platform.

"Formal education will make you a living, self education will make you a fortune"
jurakru
Jan 20 2017 at 08:25
1 posts
it is truth.

Please accept this email as formal notice regarding FOREX.com UK’s recent decision to close the above referenced FOREX.com account you hold with us and effectively terminate the customer agreement between you and FOREX.com UK in full accordance with the agreement and with such termination becoming effective as of the date of this email.
As a result of a recent quality control 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 status has been changed to “Terminated” which bars further login and trading capabilities. Your account does not appear to have any open positions and the remaining balance will be sent to the original source of funding.
Should you have any questions following this communication, please do not hesitate to contact us.
Kind regards,

New Accounts Department
FOREX.com
+44 020 7429 7900 | [email protected] | Freephone: 0800 032 1948
It's your world. Trade it.

They do not return my money for now.
$1454.77

https://www.myfxbook.com/members/jurakru/forexcom-real-blocked-by-forexcom/1896024

DanielMeyer
Jun 29 2016 at 06:47
2 posts
# StephenW

As I saw on their website the spread for gold is 0.035 pts but with a leverage of 1:200. I would recommend another broker with higher spreads but also higher leverage if yoiu want to trade gold. For currencies the spreads are great.

Daniel

StephenW
Jun 27 2016 at 13:56
2 posts
Hello forum,

I am looking to change my current broker, can anybody please tell me if forex.com has fixed spreads? Masinly i'm interested in the gold spread.

Thank you.

Howdyy5
Feb 02 2016 at 12:21
43 posts
Some of the comments have me worried. I have a small account with them and have had no problems so far. I am not a scalper and am in the USA. I do only a few trades a week.

quantum5
Jun 08 2015 at 07:14
1 posts
Useless if you want to use Myfxbook - they do not allow investor passwords so you cannot verify track record. Wide spreads and unhelpful support. Better to look elsewhere.

Pedro2 (tiiniz)
Jan 26 2015 at 12:24
14 posts
Is it true that you are waiting for your money 3 months? Is it because of yours complain? If you asked only your deposit without profit?
I am getting worried about my 10k $ with them. I don't have much profit on that account, just few hundred $. Hopefully I get my deposit back than. I am living in Europa and forex.com UK is located of course in UK. So I was wondering if I should contact any authorities there if I cant withdraw my deposit?

yunben
Jan 26 2015 at 07:45
20 posts
so far. I have no update yet. 3 months passed but still wait for FOS to allocate an adjudicator. FOS is very very slow.

Pedro2 (tiiniz)
Jan 25 2015 at 22:50
14 posts
Ok, let us know how things are going then!

raviluke
Jan 25 2015 at 22:49
167 posts
tiiniz posted:
raviluke posted:
I am in Canada and had an account with Forex.com. I DO NOT RECOMMEND THIS BROKER!

They will tell you that all kinds of trading strategies are allowed but when you start making profit with them, they will kick you out without any reason.

I deposited $100 (even though they say $1000 is minimum) via credit card and started scalping. In two days I made $17.50. Next day I got this email:

Dear Mr. Luke,
 
Please accept this letter as formal notice regarding FOREX.com CA’s recent decision to close the above referenced FOREX.com CA account you hold with us and effectively terminate the customer agreement between your person and FOREX.com CA in full accordance with the agreement with such termination becoming effective as of the date of this letter.
 
As a result of a recent quality control 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 status has been changed to “Terminated” which bars further login and trading capabilities. Your account does not appear to have any open positions and has a current remaining balance of $117.50. You may withdraw these funds by completing the attached withdrawal request form.
 
Should you have any questions following this communication, please feel free in communicating directly to [email protected]

Regards,
 
Compliance Department | GAIN Capital


I emailed them back asking for a reason, and they didn't respond. A simple Google search tells us that this is their general practice. You make profits, they will kick you out because they are market makers. If you win, they will lose.


How about deposit? Did you get back at least your deposit? I have some money with them, so I am wondering how is withdrawal with forex.com lately? I just want to get back my deposit. A dont have much profit on this account!


They are willing to let me withdraw entire amount including the deposit and profit I made. I submitted the withdrawal request on Thursday, just waiting to hear from them about it.

Pedro2 (tiiniz)
Jan 25 2015 at 22:34
14 posts
raviluke posted:
I am in Canada and had an account with Forex.com. I DO NOT RECOMMEND THIS BROKER!

They will tell you that all kinds of trading strategies are allowed but when you start making profit with them, they will kick you out without any reason.

I deposited $100 (even though they say $1000 is minimum) via credit card and started scalping. In two days I made $17.50. Next day I got this email:

Dear Mr. Luke,
 
Please accept this letter as formal notice regarding FOREX.com CA’s recent decision to close the above referenced FOREX.com CA account you hold with us and effectively terminate the customer agreement between your person and FOREX.com CA in full accordance with the agreement with such termination becoming effective as of the date of this letter.
 
As a result of a recent quality control 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 status has been changed to “Terminated” which bars further login and trading capabilities. Your account does not appear to have any open positions and has a current remaining balance of $117.50. You may withdraw these funds by completing the attached withdrawal request form.
 
Should you have any questions following this communication, please feel free in communicating directly to [email protected]

Regards,
 
Compliance Department | GAIN Capital


I emailed them back asking for a reason, and they didn't respond. A simple Google search tells us that this is their general practice. You make profits, they will kick you out because they are market makers. If you win, they will lose.


How about deposit? Did you get back at least your deposit? I have some money with them, so I am wondering how is withdrawal with forex.com lately? I just want to get back my deposit. A dont have much profit on this account!

Hemi pips (hemipips)
Jan 23 2015 at 19:06
77 posts
unbelievable that they can survive, when there are so many other good Brocker

raviluke
Jan 23 2015 at 18:53
167 posts
I am in Canada and had an account with Forex.com. I DO NOT RECOMMEND THIS BROKER!

They will tell you that all kinds of trading strategies are allowed but when you start making profit with them, they will kick you out without any reason.

I deposited $100 (even though they say $1000 is minimum) via credit card and started scalping. In two days I made $17.50. Next day I got this email:

Dear Mr. Luke,
 
Please accept this letter as formal notice regarding FOREX.com CA’s recent decision to close the above referenced FOREX.com CA account you hold with us and effectively terminate the customer agreement between your person and FOREX.com CA in full accordance with the agreement with such termination becoming effective as of the date of this letter.
 
As a result of a recent quality control 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 status has been changed to “Terminated” which bars further login and trading capabilities. Your account does not appear to have any open positions and has a current remaining balance of $117.50. You may withdraw these funds by completing the attached withdrawal request form.
 
Should you have any questions following this communication, please feel free in communicating directly to [email protected]

Regards,
 
Compliance Department | GAIN Capital


I emailed them back asking for a reason, and they didn't respond. A simple Google search tells us that this is their general practice. You make profits, they will kick you out because they are market makers. If you win, they will lose.

yunben
Nov 12 2014 at 13:50
20 posts
Warning!!!!
They have different customer agreement in UK and US version.

in UK, they can easily delete your profit by their rules such as adjustment trade activity because their price is off-market. if you trade short term, they can charge you either scalping or illegal trade based on price latency

 but in US they dare not to take a penny from customer's pocket.

I was robbed $19276.33 by this broker. It is a real case. please see the post at forexfactory
https://www.forexfactory.com/showthread.php?t=509987

robertstahl12
May 18 2014 at 06:32
15 posts
They cancel my account when i win only 3K USD, and they dont pay me yet, 2 weeks ago.

burrocampeador
Apr 18 2014 at 16:07
3 posts
If you earn money, they cancel your account, because they are market makers and I suppouse they trade against you (if you win, they loose).

The reason they said is: 'As a result of a recent quality control 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.'

Therefore, if you are a sucessful trader, don't join this broker. If you do, you will spend your time.

I am a news spike trader and, in my first day with forex.com, I earned 95% of my capital. The next day forex.com cancelled my account.

The good point is they gave me back all my money: the initial capital and the profits. They were serious and fast in this matter, so in less than a week I had all my money in my bank account.

Also, I have to say that the salesman lied to me. He said: 'We never cancel winning accounts because we earn money with spreads. Therefore, we want customers with profits'. A big lie.

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