Forex.com review.

Overview

TrueBroker is a free broker safety checker, and this page is our review of Forex.com, scored 7.4 out of 10 across regulation, fees, platform, support and reviews. Our previous review of this broker scored 5.7/10; this score is higher, but that is our assessment being rewritten against fresh evidence, not the firm getting better, and it comes from a different scoring model reading a different set of pages, not from anything Forex.com changed.

“Forex.com” is a trading name used across a group of separately regulated companies, not one licensed entity. The pages we fetched name StoneX Group Inc., a NASDAQ-listed parent (SNEX), sitting above GAIN Global Markets, Inc. (the Cayman Islands entity licensed by the Cayman Islands Monetary Authority under number 25033, with a principal place of business at 30 Independence Blvd, Suite 300, Warren, NJ), StoneX Europe Ltd (the Cyprus Investment Firm trading as FOREX.com for EU/EEA clients, CySEC licence 400/21), StoneX Financial Ltd (the UK entity, also named as a card-payment processor), and GAIN Capital Group LLC, doing business as FOREX.com in the US and holding NFA membership membership 0339826. Which of these onboards a given client, and therefore which regulator and compensation scheme applies, depends on the client’s country rather than on a single unified “Forex.com” account relationship.

What we checked on the public registers

The Cayman Islands Monetary Authority’s List of Securities Investment Business Licensees confirms GAIN Global Markets, Inc. under licence 25033, dated 1-Jan-07, for the permitted activities Securities Arranger and Market Maker. The Cyprus Securities and Exchange Commission’s register of Cypriot investment firms confirms StoneX Europe Ltd under licence 400/21. The NFA BASIC register shows GAIN Capital Group LLC as NFA ID 0339826, status “NFA Member Approved” since 29 July 2004, currently registered as a Futures Commission Merchant and Retail Foreign Exchange Dealer. The Kanto Local Finance Bureau’s listing, held via the Japan Financial Instruments Business Operators list operator list, confirms StoneX Securities Kabushiki Kaisha (StoneX証券株式会社) under registration Kinsho (Financial Instruments Business) No. 291 (金商第291号), a Type I Financial Instruments Business registered 30 September 2007. UK Companies House confirms STONEX FINANCIAL LTD as company 05616586, incorporated 9 November 2005, status Active, though Companies House is a company registry rather than a financial regulator and confirms the company only, not a trading licence. The FCA register register does carry FRN 446717 for StoneX Financial Ltd, but its status field reads only “See full details,” which is neither a plain authorisation nor a plain lapse, so we are not treating it as a finding either way. Claims that the group is also overseen by the SEC, the ASIC, Japan’s FSA, IIROC/CIRO, MAS, or Kuwait’s CMA appear on the firm’s own legal pages but without a licence number or named entity attached, which left us nothing to look up on those registers; that is a gap in what the firm published, not a finding about the firm.

Forex.com and the warning-list search

We searched 1,441 warning-list entries mirrored from CySEC, the FCA and FSC Mauritius, running a positive control first so an empty result means absence rather than a broken search, and Forex.com, GAIN Capital, GAIN Global Markets and StoneX all appear on none of them. Thirty-nine other entries turned up under similar names and are not this firm: domains like eurotradeforex.com and forexelite.co sit on CySEC’s list of non-approved domains, which does not name the broker they imitate; dbgmarkets-ink.com and related dbg-prefixed domains are listed by the FCA as clones of an authorised firm, again without naming which one; royal-forex.com and forex.com.vn are listed by the FCA as Unauthorised with no clone marker; and three further names (ForexG Global Trading, Forex Live Fx, United Capital Forex Limited) come from FSC Mauritius investor alerts unrelated to this broker. None of this touches Forex.com itself; it is a risk only for a reader who mistypes a domain while searching for it.

What Forex.com charges

The firm’s fee pages describe a RAW Spread account charging $5 USD commission per $100,000 traded (UK/EU pricing) or $7 USD per $100,000 on the US Next-Gen Pricing model, against a Standard/Spread-Only account that carries no commission and prices through the spread instead. An inactivity fee of $15 a month applies after 12 months with no trade placed or position maintained. A currency-conversion charge of +/-1.0% from the market rate applies when trading an instrument that settles in a currency other than the account’s base currency. Overnight financing is charged daily at SONIA, SOFR or €STR plus or minus 2.5%, applied to positions open at 5pm ET including weekends, and the fee page states plainly that a hedged position open overnight is charged financing on both sides of the trade rather than netted. Share CFD commissions run from 0.08% of consideration on most UK, EU and Asian stocks, or 1.8 cents per share on most US stocks, with a minimum of 5 units of the account’s base currency.

Platforms and markets

The firm’s own pages describe MetaTrader 4, MetaTrader 5 (with an FX Blue add-on suite and integrated Reuters news the firm says is “unlike most MT5 platforms”), its own Web Trader and desktop platform, a mobile app, and a TradingView connection. Instruments named across the country versions of the site include forex (80+ pairs), indices, commodities, share CFDs (nearly 2,500 on the AU/UK entity’s page), cryptocurrency CFDs, bonds and ETFs, though the account comparison page shows the Standard account listing crypto and ETFs while the MetaTrader 5 account’s own listed markets omit both.

Overview Table

Facts List

• GAIN Global Markets, Inc. holds CIMA licence 25033, confirmed on the Cayman Islands Monetary Authority’s licensee list.
• StoneX Europe Ltd holds CySEC licence 400/21, confirmed on the Cyprus Securities and Exchange Commission register.
• GAIN Capital Group LLC holds NFA ID 0339826, confirmed on the NFA BASIC register as an approved member since 2004.
• StoneX Securities Co., Ltd. holds Kanto Local Finance Bureau registration Kinsho No. 291, confirmed on the Japan FSA operator list.
• StoneX Financial Ltd is UK Companies House company 05616586, status Active, though that is a company record, not a trading licence.
• The FCA lists FRN 446717 against StoneX Financial Ltd with a status of “See full details,” which we could not read as either a plain pass or a plain lapse.
• Forex.com, GAIN Capital, GAIN Global Markets and StoneX appear on none of the 1,441 warning-list entries we searched across CySEC, the FCA and FSC Mauritius.
• RAW Spread accounts carry a $5 (UK/EU) or $7 (US) commission per $100,000 traded; Standard accounts carry no commission and price through the spread.
• An inactivity fee of $15 a month applies after 12 months without a trade placed or a position held open.
• The firm’s own funding FAQ states it does not accept Western Union or PayPal, which conflicts with a PayPal mention in the prior earlier review.

Key Takeaways

Why the score moved

The previous review of Forex.com scored 5.7/10. This review rests on our current checks and scores it 7.4/10. That is our assessment changing, not the firm: the criteria and the evidence pulled for this pass are both different from the earlier write-up, so the move is ours to explain, not the broker’s to take credit for. On regulation the register work lands mixed. CySEC’s own register confirms StoneX Europe Ltd under licence 400/21, CIMA’s list confirms GAIN Global Markets, Inc. under licence 25033, the NFA BASIC register confirms GAIN Capital Group LLC as an NFA-approved member under NFA ID 0339826, and Companies House confirms StoneX Financial Ltd as company 05616586. But FRN 446717 at the FCA shows a status the FCA itself records only as “See full details”, which is neither an authorisation nor an ending, and several jurisdictions the firm’s own German-language site lists as regulatory coverage, Canada, Japan, Singapore, Australia, carry no licence number on any page we fetched, so we could not check them. Fees and platform both score high because the firm’s own published fee pages and platform pages hold up under direct reading. Support scores low: the pages we fetched give phone numbers, a WhatsApp scan option and live chat, and the contact page lists global.support@forex.com, but no unified support hours or response times are published.

What the registers actually show

• CySEC’s register of Cypriot investment firms confirms StoneX Europe Ltd under licence 400/21.
• CIMA’s List of Securities Investment Business Licensees confirms GAIN Global Markets, Inc. under licence 25033, dated 1-Jan-07, for Securities Arranger and Market Maker activities.
• The NFA BASIC register confirms GAIN Capital Group LLC as an NFA-approved member (approved 29 July 2004) and current CFTC-registered Futures Commission Merchant and Retail Foreign Exchange Dealer.
• UK Companies House confirms StoneX Financial Ltd as company 05616586, incorporated 9 November 2005, status Active, though a company registry entry confirms the company and never a licence.
• BaFin‘s own company database confirms StoneX Europe Ltd under BaFin-ID 10160255 as a cross-border services provider under section 74 WpIG, which the underlying record ties back to the CySEC 400/21 authorisation rather than a separate BaFin licence.
• FRN 446717 at the FCA is held by StoneX Financial Ltd, but the FCA’s own status field reads “See full details” rather than a plain authorised or ended status, so nothing follows from that entry without a human reading it directly.
• Claims of Canadian, Japanese, Singaporean and Australian regulatory coverage appear on the firm’s German-language site with no licence number attached on any page in this evidence, so those claims are unchecked, a gap in what was published rather than a finding about the firm.
• We searched 1,441 warning-list entries mirrored from CySEC, the FCA and FSC Mauritius, and this firm appears on none of them.
• Other domains on those same lists carry “forex” in their names and are not this firm, several of them explicitly marked by the FCA as clones of an authorised firm; a reader searching for Forex.com could land on one by mistake.

What Forex.com’s own fee pages commit to

• The fee page sets a $15 per month inactivity fee once a client has placed no trade and held no open position for 12 months.
• The same page sets a currency conversion charge of +/-1.0% from the market rate whenever a client trades an instrument settling in a currency other than the account’s base currency.
• Overnight financing on the RAW Spread account runs at the relevant benchmark rate (SONIA, SOFR or €STR) plus or minus 2.5%, charged daily on positions open at 5pm ET, including weekend days when markets are shut.
• The same fee page states plainly that a hedged position open overnight is charged financing on both sides of the trade rather than netting to zero.
• The RAW Spread account charges a $5 USD commission per $100k traded on top of the spread; the fee page’s own worked example puts a 200,000 EUR/USD buy at 1.1000 at $11 commission.
• The funding FAQ states directly: “No, we do not accept payments through Western Union or PayPal,” which contradicts a PayPal-acceptance claim carried over from the earlier review.
• The same funding page states that if a client’s original funding method is closed, lost or unavailable, the firm is “legally obligated to verify the status of the original funding account before we can process a withdrawal of funds to another source,” which can delay a withdrawal until further bank documentation is supplied.

What binds a client in Forex.com’s own terms

• The risk disclosure states a client “could sustain a total loss of initial margin funds and be required to deposit additional funds to maintain your position,” and that a margin failure means the position “may be liquidated, and you will be responsible for any resulting losses,” with no negative-balance protection stated in that disclosure.
• The same disclosure states the firm “is not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on” the firm’s own opinions, news, research, analyses or prices.
• The help pages carry a matching waiver for the free calculator tools: the user agrees not to hold FOREX.com or any of its affiliates, liable for trading decisions that are based on the currency converter / pip & margin calculators.
• The advertised “100% execution rate of less than a second” statistic is footnoted to apply only to GAIN Global Markets Inc. orders over a single one-month window and excludes MetaTrader trades entirely.
• The firm’s own about page discloses an internalization model: A lot of our client positions offset with each other… If a majority of clients buy GBP/USD, we will send orders to our liquidity providers to buy, trading in the same direction as our clients to net off their risk, a structural setup worth knowing before assuming every order goes straight to market.
• The UK root page states, in the firm’s own words, that “74% of retail investor accounts lose money when trading CFDs with this provider.”

Licenses & Regulation

Regulation is a 6.5 in this review, up from 5.7 last time. The move is ours: this pass checked more registers directly and read further into the fee and terms pages, which surfaced both solid confirmations and a genuine mess of entities and jurisdictions that the last review did not lay out.

What the registers confirm for Forex.com

StoneX Europe Ltd holds Cyprus Investment Firm licence 400/21 with the Cyprus Securities and Exchange Commission. The CySEC register carries this as an active Cypriot investment firm entry, which reflects a financial services authorisation rather than a company listing alone.

GAIN Global Markets, Inc. sits on the Cayman Islands Monetary Authority’s List of Securities Investment Business Licensees, for the period ended 31 December 2025, under licence number 25033, licensed since 1 January 2007, for the permitted activities of Securities Arranger and Market Maker.

GAIN Capital Group LLC is an NFA member in good standing under NFA ID 0339826, approved 29 July 2004, and its current CFTC registration is as a Futures Commission Merchant and Retail Foreign Exchange Dealer, per the NFA BASIC register.

In Japan, StoneX Securities Co., Ltd. (StoneX証券株式会社) is registered with the Kanto Local Finance Bureau with the Kanto Local Finance Bureau (関東財務局長) for Type I Financial Instruments Business under registration number Kinsho No. 291, dated 30 September 2007, and the firm states membership of the Japan Securities Dealers Association and the Financial Futures Association of Japan, though we hold no register for either body to check that membership against.

Two supporting company registrations also confirm, separate from any trading licence: StoneX Financial Ltd is company 05616586 on UK Companies House, incorporated 9 November 2005 and shown as active, and StoneX Europe Ltd appears in BaFin’s company database under BaFin ID 10160255 with a “Sonstige nach MiFID” cross-border notification dated 16 July 2021, which BaFin itself frames as a passporting notice rather than a separate German licence.

What could not be checked

FRN 446717, cited for StoneX Financial Ltd, comes from our earlier review rather than from a page we fetched, and the FCA register itself shows the status as “See full details” for that number, which is neither a plain authorisation nor a plain lapse. Nothing follows from it without someone reading the entry directly.

Forex.com’s own the firm’s UK legal page lists the group as regulated in Canada through CIRO, Japan through the FSA, Singapore through MAS and Australia through ASIC, alongside the US CFTC/NFA and UK claims, but gives no licence number or named entity for any of those six on that page. We searched the CIRO directory of Dealers We Regulate across all 30 pages and 237 dealers and found no match for “Forex.com”; that directory lists current members only, so a firm that has left would not appear either. We also searched FINRA BrokerCheck and NFA BASIC for a firm called “SFI”, named on the Singapore-facing page as the entity behind the firm’s US SEC and CFTC broker-dealer claims, and found no match in either register. Both searches passed a control lookup on a firm known to be listed, so the empty result reflects the search rather than a broken one. The ASIC, Japan FSA and MAS claims name no licence number at all, so there was nothing for us to look up.

How Forex.com is split across entities

The brand runs through at least four separate regulated companies depending on where a client signs up: GAIN Global Markets, Inc. under CIMA for the international site, StoneX Financial Ltd in the UK (limited, on the firm’s own pages, to card payment processing), StoneX Europe Ltd under CySEC for the EU and EEA, and GAIN Capital Group LLC / SFI in the US under the NFA and CFTC. Which entity actually onboards a client determines the regulator, the compensation scheme, and even which instruments are on offer, since cryptocurrency CFDs appear on the CIMA-regulated international pages but not on the UK or Australian root pages in what we fetched. Pages served under the site’s “gb” geography folder repeatedly carried a banner stating the content “is not intended for UK customers” and offered a redirect, which means several of the facts we could otherwise attribute to a UK-facing page in fact describe the Cyprus or Cayman entity instead.

The warning list check

We searched 1,441 warning list entries mirrored from CySEC, the FCA and the FSC Mauritius, and Forex.com, GAIN Capital, GAIN Global Markets and StoneX all return no match. Before relying on that empty result we ran a positive control search against a firm known to be listed on each of the 20 registers we queried directly, so the clean result reflects an actual absence on these three lists rather than a search that simply failed to find anything. That coverage is limited to the lists we mirror, not every regulator worldwide. Thirty nine other entries on those same lists carry “forex” somewhere in their name and are not this firm: sites such as forexeze.com, forex-eze.com and forexeze.io are marked by the FCA register as clones of a previously authorised firm, royal-forex.com and forex.com.vn are listed by the FCA as unauthorised with no clone marker attached, and a further batch of CySEC “Non Approved Domains” and FSC Mauritius investor alerts name unrelated operators. A reader searching for this broker by name could land on one of those pages by mistake; none of them is Forex.com.

How to Trade

Forex.com is not one trading venue but several, depending on which of the four regulated entities onboards the client. GAIN Global Markets Inc. runs the international, Cayman Islands licensed site; StoneX Financial Ltd runs the UK entity; StoneX Europe Ltd, licensed by CySEC under 400/21, runs the EU/EEA site; and GAIN Capital Group LLC operates the US business. This matters for trading itself because the instrument list is not identical across them. The international StoneX site lists cryptocurrency CFDs including Bitcoin, Ethereum and Litecoin, but the account comparison page for the Standard Account and the MetaTrader 5 Account, both fetched from the same firm, shows crypto and ETFs available on Standard and absent from the MT5 account listing. A client who prefers MetaTrader 5 over the firm’s own web platform loses access to markets the brand otherwise advertises.

Account types and how Forex.com prices a trade

The Standard Account carries no commission, with the cost built into the spread. The RAW Spread Account (called RAW Pricing on the US site) adds a per-trade commission on top of spreads the firm describes as running as low as 0.0 on FX majors: the UK/EU fee page gives this as a fixed $5 per $100,000 USD traded, worked through with examples of $10 commission on 200,000 USD/JPY and $11 on 200,000 EUR/USD at 1.1000. Stock CFDs are the one asset class where Standard-type pricing itself carries a commission: the fee page gives 1.8 cents per share for most US stocks, 0.08% of consideration for most UK, EU and Asian stocks, and a minimum commission of 5 units of the stock’s base currency. A MetaTrader account is also sold separately from both, with its own dedicated login, spreads built into the price and no commission line.

What holding a position costs at Forex.com

The fee page sets overnight financing at the relevant benchmark rate plus or minus 2.5 percentage points, SONIA for the UK, SOFR for the US, and the euro short term rate for the EU book, applied daily to any position still open at 5pm ET, including weekends. The same page states plainly that a hedged position, one held long and short at once, is charged financing on both sides rather than netting to zero. Trading an instrument that settles in a currency other than the account’s base currency brings a separate currency conversion charge of plus or minus 1.0% from the market rate, applied to realised profit and loss as well as to fees. Shorting a share CFD can carry an additional borrowing cost reflecting the price of borrowing the underlying stock, and the fee page tells the client to check the individual market information sheet rather than publishing a single rate. Spot commodity positions are subject to a daily “commodity basis adjustment” as the internal pricing rolls from a front month futures contract to a far month one, crediting or debiting the account outside of the instrument’s headline price move. An account with no trade placed and no open position for 12 months is charged $15 a month in inactivity fees, and reactivating it requires filling in a reactivation form for Client Services to review.

Execution and how the firm fills an order

The firm’s own about page discloses how it handles the other side of a client trade: “As we make most of our revenue from the spread, we do not directly profit when a client wins or loses on their trade,” and describes offsetting opposing client positions against each other, a process it calls internalisation, before sending any net imbalance to liquidity providers “trading in the same direction as our clients to net off their risk.” A published execution scorecard on the international site claims 100% of trades filled in under a second, but its own footnote narrows that figure to GAIN Global Markets Inc. orders only, over one specific month, and states it excludes any trade placed on the MetaTrader platform, so a client trading MT4 or MT5 is not covered by the number.

The risk warning that binds a client’s account

The disclosures and risk warning page states plainly: “The possibility exists that you could sustain a total loss of initial margin funds and be required to deposit additional funds to maintain your position. If you fail to meet any margin requirement, your position may be liquidated, and you will be responsible for any resulting losses.” The same page adds that Forex.com “is not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on” the firm’s own opinions, news, research or prices, and the AU/international terms carry an equivalent line disclaiming responsibility for “communication failures or delays when trading via the Internet.” Pricing pages for the RAW Spread and Standard accounts note separately that “typical” and “as low as” spreads may not apply to Managed Accounts or accounts referred in through an Introducing Broker, so the headline spread figures on the fee pages are not guaranteed to the whole client base.

Leverage and instrument range

Instruments span forex (more than 80 pairs on the UK site), indices including the UK 100 and Germany 40, commodities such as crude oil, natural gas and precious metals, stock and share CFDs (the AU site puts the number near 2,500), and cryptocurrency CFDs on the international site. Leverage differs by the entity that holds the account rather than by a single global cap, and CFDs are stated outright as unavailable to US residents on the US site: “Contracts for Difference (CFDs) are not available for US residents.” Between our last review, scored 6.5 for fees and platform combined, and this one, this review’s fixed criteria score fees at 9 and platform at 8.9, driven by the RAW Spread commission structure, the multi platform lineup of the firm’s own Web Trader, MT4, MT5 and TradingView integration, and the transparency of the fee page’s own worked examples, set against a support score of only 5.0 that reflects how thin the firm’s own published contact channels are next to the trading terms themselves.

Account Types

StoneX runs Forex.com’s account menu differently depending on which regulated entity signs up the client, and the account list on the firm’s own pages shifts with it. The UK and EU-facing account comparison page lists a Standard Account and a MetaTrader 5 Account, both commission-free with the cost taken through the spread, plus a RAW Spread Account that charges a separate commission on top of a tighter spread. The US site names a different set: Spread-Only, RAW Pricing, MT5, MT4, Corporate and IRA accounts. The Australian pages add Corporate, Trust and Partnership accounts and a Joint Account on top of Standard, MetaTrader and RAW Spread.

The Standard Account

Forex.com’s UK account comparison page describes the Standard Account as commission-free, with the cost built into the spread, running on the firm’s own web platform, its mobile app, desktop software or TradingView. The same page lists its markets as forex, indices, commodities, cryptocurrencies, stock CFDs and ETFs. The account-opening page for this tier gives no minimum deposit figure in the pages we read.

The RAW Spread Account and what the commission actually costs

The RAW Spread Account carries a separate commission on top of a tighter spread. Forex.com’s own fee page gives the rate as $5 USD per $100,000 traded and works through two examples: buying 200,000 USD/JPY costs $10 in commission, and buying 200,000 EUR/USD at 1.1000 costs $11. The same page sets the minimum trade size at one micro lot, 1,000 units. The Australian account-types page describes the tier’s FX-major spreads as “as low as 0.0” before that commission is added, and platform access on this account runs to web, mobile, desktop and MetaTrader 5. On the US site, the equivalent tier is named the RAW Pricing Account rather than RAW Spread, and the fee page there gives a $7 USD commission per $100,000 traded rather than $5, alongside spreads described as “as low as 0.0” under what the site calls its Next-Gen Pricing Model.

MetaTrader accounts

Forex.com’s platforms page gives a $100 minimum deposit for the MetaTrader 5 Account and describes it as commission-free, with the cost taken through the spread. It lists free VPS hosting for qualifying customers, the firm’s FX Blue package of more than 20 apps including nine expert advisors, and integrated Reuters news, which the page says most MT5 setups don’t carry. A demo version of this account runs on $50,000 in virtual funds and expires after 30 days. The account comparison page shows this tier’s tradable markets as forex, indices, commodities and stock CFDs, with no cryptocurrency or ETF line, unlike the Standard Account on the same comparison table. An MT4 account is referenced alongside the MT5 offering on the account pages but without its own separate deposit or fee figures on the pages we read.

Business, joint and VIP tiers

The Australian account-types page lists a Corporate, Trust and Partnership Account, described as built for businesses with more than one authorised trader on the account, and a Joint Account for a co-account holder. The same page describes a VIP tier paying a cash rebate of up to $50 per million traded across FX, indices, commodities, metals, cryptocurrencies and equities, reimbursement of bank fees on wire transfers, and a stated reduction in trading costs of up to 15 percent, though the page does not give the deposit or volume threshold needed to qualify.

Caveats Forex.com states on its own pricing

The Australian account-types page states that “typical” and “as low as” spreads may not apply to Managed Accounts or to accounts referred in through an Introducing Broker, without saying what those clients pay instead. Separately, the firm’s own marketing page states a EUR/USD spread “as low as 0.7 pts” while its account comparison page states the Standard Account’s FX spread as “as low as 0.8” for the same pair; we read both, and Forex.com’s own pages disagree with each other on the figure.

Negative Balance Protection

Two clauses in Forex.com’s own risk disclosure control what happens when a trade goes against a client, and they say the opposite of what “negative balance protection” usually promises. The Disclosures and Risk Warning page states: “The possibility exists that you could sustain a total loss of initial margin funds and be required to deposit additional funds to maintain your position. If you fail to meet any margin requirement, your position may be liquidated, and you will be responsible for any resulting losses.” The same wording appears on the firm’s Australian terms page. Neither version carries a cap. The client can lose the deposit, be asked for more, and remain on the hook for whatever the liquidation does not cover.

What StoneX Financial Ltd and GAIN Global Markets Inc. actually disclose

Forex.com trades through separate regulated entities depending on where a client signs up: GAIN Global Markets Inc. under the Cayman Islands Monetary Authority for the international site, StoneX Europe Ltd under CySEC for EU/EEA clients, StoneX Financial Ltd under the FCA in the UK, and GAIN Capital Group LLC in the US under NFA and CFTC registration. The risk-warning language quoted above, on both the UK-routed pages and the Australian terms page, makes margin calls and liquidation the client’s liability with no ceiling stated. An earlier version of this review, reported here as second-hand and not as anything we read ourselves, claimed negative balance protection applies to non-US clients under a 30:1 leverage cap while US clients trading under 50:1 leverage get no such protection. We did not find that carve-out written into the risk disclosure pages we fetched; the pages we read state the margin-and-liquidation liability language without carving out a protected tier.

What compounds the exposure: hedging, financing, and forced liquidation together

Three of the firm’s own published mechanics add up against a client already near the edge of margin. First, overnight financing is charged daily on any position open at 5pm ET, including weekends, at a benchmark rate (SONIA, SOFR or €STR) plus or minus 2.5%, so a losing position left open keeps bleeding financing costs on top of the underlying loss. Second, the fee page states plainly: “If you have a hedged position open overnight, you will be charged overnight financing on both sides of the trade,” so a client who thinks a hedge is holding the account steady is still paying financing twice, which eats into the margin cushion that would otherwise stand between the account and a forced close-out. Third, once margin is breached, the risk warning gives the firm the right to liquidate the position and puts the resulting loss on the client, with the account able to go into deficit before StoneX’s own systems act.

Liability disclaimers that sit alongside the margin risk

The same terms and disclosures pages add a second layer that matters once a margin call has already gone wrong for the client: “FOREX.com is not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on such information,” referring to the firm’s own market commentary, news and analysis, and on the Australian terms page, “FOREX.com is not responsible for communication failures or delays when trading via the Internet.” A client who cannot close a losing position because of a platform or connectivity delay, or who traded on the strength of the firm’s own published research, has no recourse under these clauses; the margin and liquidation losses described above land on the client either way.

Where this leaves the score

This review’s regulation score is 6.5, up from an overall 5.7 in the prior review to 7.4 now. That is our assessment being rebuilt from current evidence, not a change in what the firm does: we confirmed CySEC 400/21 for StoneX Europe Ltd, CIMA 25033 for GAIN Global Markets Inc., NFA membership for GAIN Capital Group LLC, and the Kanto Local Finance Bureau registration for StoneX Securities Kabushiki Kaisha (StoneX証券株式会社), while the FCA entry for StoneX Financial Ltd under FRN 446717 came back as “See full details” rather than a plain confirmation. None of that register work changes the margin and liquidation language quoted above; it exists independently of which entity onboards a given client, and the risk disclosure we read puts the loss beyond the deposit on the client in every version of it we have in evidence.

Trading Instruments

Forex.com’s own pages show a wide instrument list, but which instruments a client can actually reach depends on which of the group’s regulated entities onboards them, and the pricing quoted for the same instrument is not always consistent between the firm’s own pages.

What Forex.com lists across its markets

The GAIN Global Markets Inc. site describes forex trading across more than 80 currency pairs, indices covering American, European, Asian and Australian markets, share CFDs including Apple, Nvidia and Tesla, commodities including crude oil and gold and silver as separate navigation categories, and cryptocurrency CFDs such as Bitcoin, Ethereum, Litecoin and Stellar. The Australia site’s account page describes over 15 indices worldwide with extended trading hours and access to nearly 2,500 stock CFDs. The German language site lists more than 6,000 share CFDs with commissions from 0.08 percent, indices such as the Germany 40 from 1 point and the US SP 500 from 0.4 points, precious metals including physical gold and silver, and crypto CFDs it describes as tradable around the clock, 24 hours a day, seven days a week. That same site places bonds and options under an “Andere Märkte” (other markets) navigation category rather than the main markets list. The Japan site adds bullion, described as precious metals including gold, silver, platinum and palladium.

Instruments are not the same on every account or in every entity

The UK account comparison page lists cryptocurrencies and ETFs as available markets on the Standard Account, but the same page’s MetaTrader 5 Account row omits both, leaving forex, indices, commodities and stock CFDs as its stated markets. Separately, the Cayman Islands regulated GAIN Global Markets Inc. site lists cryptocurrency CFDs on its own markets page, but that category does not appear on the StoneX Financial Ltd markets list fetched from the UK and Australia root pages in this evidence. And on the US site, Forex.com states plainly that “Contracts for Difference (CFDs) are not available for US residents,” which rules out CFD access on shares, indices and commodities for that entity regardless of what the international marketing pages advertise. The US site instead lists forex, futures and futures options “through our affiliate,” and wealth management, under a materially different product set than the CFD entities.

Spreads Forex.com quotes do not always match between its own pages

The Australia and UK root marketing page states the EUR/USD spread is “as low as 0.7 pts,” while the account comparison page on the same domain states the Standard Account’s FX spread is “as low as 0.8.” Both figures come from the firm’s own published pages, and the discrepancy sits inside the same brand’s material rather than between the firm and an outside source. Where a headline “from” or “as low as” figure is quoted for an index, the same account comparison note applies: typical and as low as spreads may not be available for Managed Accounts and accounts referred by an Introducing Broker, so a client onboarded through either route may not receive the number printed on the pricing page without a further check.

Pricing structure by asset class

Across the account types the firm publishes, forex, indices, commodities and crypto CFDs are priced through the spread on the Standard Account, with no separate commission; the RAW Spread account instead adds a stated $5 USD commission per $100,000 traded on top of a lower spread, with the UK fee page giving worked examples of $10 for 200,000 USD/JPY and $11 for 200,000 EUR/USD at 1.1000. Share CFDs are the one asset class the fee page describes as carrying a commission on the Standard type of pricing too: 1.8 cents per share for most US stocks or 0.08 percent of the consideration for most UK, EU and Asian stocks, with a stated minimum commission of 5 units of the stock’s base currency, and the fee page notes rates vary by market and are detailed in separate Market 360 sheets rather than on the fee page itself.

Positions held open carry costs beyond the spread

The UK fee page describes an overnight financing charge applied daily to positions still open at 5pm ET, calculated from a benchmark rate, SONIA in the UK, SOFR in the US, €STR in the EU, plus or minus 2.5 percent, and states this is charged including on weekend days when markets are closed. The same page states that a hedged position held open overnight is charged financing on both sides of the trade rather than netting to zero. For commodities specifically, the fee page describes a daily “commodity basis adjustment” as pricing rolls from a front month to a far month futures contract, crediting or debiting the account, and for short share CFD positions it states a borrowing cost applies that the client has to check per market on the individual market information sheet rather than finding it quoted on the fee page.

What the evidence does not settle

The pages fetched under the UK folder in this evidence carry a banner stating the content “is not intended for UK customers” and route the visitor to a different site, which means the instrument lists pulled from those pages describe the Cayman Islands regulated GAIN Global Markets Inc. entity rather than the FCA linked StoneX Financial Ltd entity that actually serves UK clients. Which instruments, which spreads and which account types apply to a UK resident are not established by the pages in our evidence.

Education & Analysis

StoneX runs FOREX.com across at least four legal entities depending on where a client signs up, and the platform lineup we found is broadly the same across those country versions of the site: the firm’s own web trader, a mobile app, MetaTrader 4, MetaTrader 5, and TradingView. What differs is which account gets which tools, and the firm’s own pages are not consistent with each other on the details.

The platform lineup FOREX.com offers

FOREX.com’s platform page lists MetaTrader 4, MetaTrader 5, its own web trader, a desktop platform, and a mobile app, plus a TradingView connection. On MT4, the firm’s platform page says it supports Expert Advisors written in MQL4, with more than one EA able to run at once but never more than one per chart, and offers a free FOREX.com MT4 EA/indicator package. On MT5, the same page describes expanded timeframes, more indicators, and close to 300 CFD stocks that are not available on MT4, plus an FX Blue suite of apps, integrated Reuters news, and free VPS hosting for qualifying clients, each listed separately. A separate UK platforms page repeats the MT5 detail, adding that the account runs on its own dedicated login separate from other account types and that it is EA-optimized (no third-party bridge).

The firm’s own web trader is described on its platforms page as browser-based with no plugins or downloads required, built around embedded TradingView charts and what the firm calls “smart trade tickets”. A separate account-comparison page adds that the web platform includes “behavioral science technology” and a Reuters news feed. The mobile app, per the same platforms page, carries TradingView charts, a “Performance Analytics” tool, custom watchlists, and light and dark themes. FOREX.com also lets clients connect their account directly to TradingView.com, where the firm’s page describes access to over 80 indicators, more than 50 drawing tools, and 14 time intervals. For institutional clients, a separate page names a FIX API as a price-delivery channel, and the US site lists NinjaTrader and API trading as additional ways to trade.

What tools depend on the account, not just the platform

A UK account-comparison page lays the Standard Account and the MetaTrader 5 Account side by side, and the two do not offer the same markets: the Standard Account’s listed markets include cryptocurrencies and ETFs, while the MetaTrader 5 Account’s listed markets show neither. A client who prefers trading on MT5 over the firm’s own web platform loses access to instruments that FOREX.com otherwise advertises. The RAW Spread Account, per the firm’s UK fee page, carries a minimum trade size of one micro lot (1,000 units) and a flat $5 USD commission per $100,000 traded on top of the spread, on the web platform, mobile, desktop or MT5.

The firm’s own accounts page also flags a limit that cuts across all of its charting and pricing claims at once: “Typical spreads may not be available for Managed Accounts and accounts referred by an Introducing Broker.” Anyone routed in through an IB, in other words, is reading marketing spread figures that the same page says may not apply to them.

Execution and analytics claims that come with fine print

FOREX.com’s marketing pages headline execution statistics (100% of trades executed in under 1 second, figures as low as 0.002 seconds average execution speed) as part of what it calls an Execution Scorecard. The footnote on the page we read narrows this considerably: the figures cover only GAIN Global Markets Inc. orders, exclude any trade or order entered on the MetaTrader platform, and are drawn from a single specific window, in one instance the month running May 31 to June 30, 2026. A client trading on MT4 or MT5, or one onboarded through a different regional entity, is not covered by the number on the page.

On the mechanics behind execution, a separate FOREX.com page discloses its internalisation model directly: As we make most of our revenue from the spread, we do not directly profit when a client wins or loses on their trade… A lot of our client positions offset with each other… If a majority of clients buy GBP/USD, we will send orders to our liquidity providers to buy, trading in the same direction as our clients to net off their risk. That is the firm’s own account of how client flow is handled before it reaches a liquidity provider, and it is worth reading alongside the analytics tools the platforms advertise, since neither the web trader’s charting nor the mobile app’s Performance Analytics tool changes how the underlying order is worked.

What we did not find published

None of the pages we fetched for this review carried a platform fee schedule, a VPS eligibility threshold beyond “qualifying customers”, or a breakdown of what happens to MT4/MT5 tools or EAs after the 30-day MT5 demo period ends. Where the evidence is silent on a point like that, we are reporting the silence, not concluding that no such terms exist.

This review scores charts and platform tooling at 8.9/10, against an overall move from 5.7 to 7.4 for the broker as a whole. That overall shift reflects this review’s own current assessment against present evidence and criteria, not a change in what FOREX.com offers; we are not in a position to say the firm’s platform stack got better or worse since the prior score was set.

Special Offers

The clearest promotion in front of us did not come from a page we read. It is a claim reported by the earlier version of this review: a 20% deposit bonus worth up to $2,500, available from a minimum deposit of $100, with the bonus amount required to be traded 30 times over before it could be withdrawn. We are restating that from the prior write-up, in our own words, because we did not fetch the page it describes and cannot quote it as the firm’s own terms. A 30-times turnover condition of that kind is the standard mechanism by which a deposit bonus locks up not just the bonus itself but the client’s own money until enough volume has been traded, so if this offer is still running, the turnover figure matters more than the headline percentage.

Forex.com’s VIP rebate program

What we did read directly, on the firm’s own Australian accounts page and its UK fees page, is a running rebate scheme rather than a sign-up bonus. Both pages describe a VIP program paying a cash rebate of up to $50 per million traded, applied across FX, indices, commodities, metals, cryptocurrencies and equities. The UK fees page frames this as lowering trading costs by up to 15%. Both pages also list a second VIP benefit: reimbursement of the bank fees charged on wire transfers, restricted to VIP program members. Neither page states the account size, deposit level or trading volume needed to qualify as a VIP, so what we fetched tells a reader the rebate exists and what it pays out on, but not the threshold for getting it.

Free extras bundled with the MetaTrader accounts

Forex.com’s own UK platforms page advertises further no-cost additions rather than cash: free VPS hosting “for qualifying customers” trading through MT5, an FX Blue package of more than 20 apps including nine expert advisors, and a free MT4 expert-advisor and indicator package. The same page notes the MT5 demo account carries $50,000 in virtual funds but expires after 30 days. As with the VIP rebate, the page does not say what makes a customer “qualifying” for the free VPS hosting, so that condition is not something we can spell out from what we read.

Where the advertised pricing does not hold

Forex.com’s own UK account-comparison page carries a standing note that “typical” and “as low as” spreads may not be available for Managed Accounts or for clients referred by an Introducing Broker. That qualifier sits on the same pages that quote the headline spread figures, so a client who opens an account through an introducer is told, in the small print, that the number which drew them in may not be the number they are actually given. Separately, the firm’s own UK legal disclosures page discloses that Forex.com may pay affiliates or third-party introducers on a cost-per-acquisition basis for referring clients, and the page frames this itself as a disclosed conflict of interest rather than one it has removed.

None of the pages we fetched carry a dedicated promotions or offers page for Forex.com; what we hold on discounts comes from the VIP program pages, the platforms page, and the one bonus detail carried over from the earlier review.

Opening an Account

Getting an account open involves working out which of four regulated entities actually takes the application, because “Forex.com” is a brand, not one company. GAIN Global Markets Inc. is licensed by the Cayman Islands Monetary Authority under licence 25033. StoneX Financial Ltd handles UK/AU business and also does the card-payment processing. StoneX Europe Ltd, holding CySEC licence 400/21, serves the EEA states plus Switzerland. GAIN Capital Group LLC, an NFA member under NFA #0339826, serves the US. Which one signs a client up decides which regulator, which compensation scheme, and which protections apply.

Who Forex.com will not take on

The onboarding pages we fetched carry country-specific exclusions rather than a single global restricted list. The site states plainly that “Contracts for Difference (CFDs) are not available for US residents.” StoneX Europe Ltd’s own pages say its products, services and information “are intended only for residents” of a named list of EEA states (Austria, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden) plus Switzerland. Separately, the AU/international root page states that FOREX.com’s products and services are not intended for Belgium residents. Several UK-country versions of the site we fetched (markets, legal, terms) carried a banner reading the content “is not intended for UK customers,” with a redirect offered to the UK-appropriate site, which tells us those particular pages describe the Cayman-regulated or EU entity rather than the FCA-regulated one UK clients actually get.

Account types on offer

The account-comparison page we read lists a Standard Account (no commission, cost built into the spread, trading Forex, Indices, Commodities, Cryptocurrencies, Stock CFDs and ETFs) and a MetaTrader 5 Account (also no commission, but its listed markets on that same page omit both Cryptocurrencies and ETFs). A RAW Spread Account is priced separately: the firm’s own fee page gives a worked example of $5 USD commission per $100,000 traded, with the example showing buying 200,000 USD/JPY costs $10 in commission and buying 200,000 EUR/USD at 1.1000 costs $11, on top of any spread still charged above 0.0. The AU-facing accounts page also names Corporate, Trust and Partnership accounts (multiple authorized traders on one account) and Joint accounts. On the MT5-specific platform page, a minimum deposit of $100 is given, and the demo account attached to that platform expires after 30 days.

Verification tied to funding, not just sign-up

The identity checks show up hardest at the withdrawal stage rather than at account opening. The firm’s own funding FAQ states: “In accordance with our anti-money-laundering policy, we are legally obligated to verify the status of the original funding account before we can process a withdrawal of funds to another source” if the card or account originally used to fund the account is closed, lost, stolen or otherwise unavailable. In practice that means a client who changes bank cards or accounts between depositing and withdrawing can be asked for further bank-issued documentation before the firm will release money to a different destination.

What StoneX Europe Ltd’s tied agent means for a Cyprus applicant

Applicants routed through the EU entity may interact with KQ Markets Europe Ltd, described on the firm’s own German-language site as a tied agent handling “Entgegennahme und Übermittlung von Aufträgen” (receipt and transmission of orders), registered in Cyprus under company number HE427857. StoneX Europe Ltd itself is registered in Cyprus under HE409708 and carries BaFin registration ID 10160255 for cross-border notification into Germany; that BaFin registration sits alongside, not in place of, the underlying CySEC 400/21 authorisation.

Funding methods available once verified

The firm’s own funding page gives bank wire transfer with no stated minimum or maximum deposit, taking up to 1-2 business days with no deposit fee charged by the firm (though banks may charge their own). Credit and debit cards (Visa, Mastercard) and Skrill/Neteller are each capped at a minimum $100 and maximum $10,000 per transaction, processed immediately with no fee from the firm. Local online transfer methods, covering currencies including USD, ARS, MYR, THB, VND, IDR, PHP, BRL, COP, CRC, CLP, MXN and ZAR, carry the same $100 minimum and $10,000 maximum with processing in 0-30 minutes. The same page states outright: “No, we do not accept payments through Western Union or PayPal,” and does not list personal or business checks as an accepted funding method.

Where this review’s score moved

Our previous review of Forex.com scored 5.7 out of 10; this one scores 7.4. The regulation criterion sits at 6.5, reflecting a mixed register picture: CySEC’s own register confirms StoneX Europe Ltd under 400/21, CIMA confirms GAIN Global Markets Inc. under 25033, and the NFA’s BASIC register confirms GAIN Capital Group LLC as an approved member, but FRN 446717 on the FCA register returns only “See full details” rather than a plain authorised status, and several jurisdictions the firm names on its own pages, including ASIC, the Japan FSA and IIROC, carry no licence number we could check against a register. Fees score highest of all, at 9, which the RAW Spread Account’s disclosed $5-per-$100k commission and the firm’s own worked pricing examples support directly. A clean result across the 1,441 warning-list entries we searched, with no match against Forex.com, GAIN Capital, GAIN Global Markets or StoneX, also weighs into this review’s overall assessment, though that check covers only the CySEC, FCA and FSC Mauritius lists we mirror, not every regulator worldwide.

Deposits & Withdrawals

StoneX runs at least four legal entities under the Forex.com brand, and which one opens a client’s account decides which rails apply. GAIN Global Markets Inc. (CIMA licence 25033) handles the international site; FOREX.com says it “may, from time to time, offer payment processing services with respect to card deposits” through StoneX Financial Ltd (UK); StoneX Europe Ltd (CySEC 400/21) covers EU/EEA clients plus Switzerland. The funding terms below come from the firm’s own funding FAQ page, which does not say which of these entities they apply to for every reader.

What Forex.com’s funding page lists as payment methods

Bank wire transfer has no deposit fee stated on the funding FAQ, banks may still charge their own. Credit and debit cards (Visa, Mastercard), Skrill and Neteller are each capped at a minimum of $100 and a maximum of $10,000 per transaction, and the page states these arrive immediately with no fee charged by Forex.com. Local online transfer, covering USD and a list of local currencies including ARS, MYR, THB, VND, IDR, PHP, BRL, COP, CRC, CLP, MXN, PEN and ZAR, carries the same $100 to $10,000 band and a stated processing time of 0 to 30 minutes, also with no fee listed. Revolut and Wise are accepted through the card or wire routes, and the page notes a first-time Revolut deposit may require a bank statement to verify the registered address. The same funding FAQ states personal or business checks are not accepted, and answers a direct question with “No, we do not accept payments through Western Union or PayPal.”

That last line matters because an earlier version of this review and are not treating as the firm’s own words, listed PayPal as available “in certain countries.” The firm’s own current funding page contradicts that. We’re going with what the funding FAQ says now: no PayPal, no Western Union.

The inactivity fee and what counts as dormant

The same fee page charges $15 a month once an account has gone twelve months with no trading activity, and it defines activity narrowly: placing a trade and/or maintaining an open position. Placing an order that never executes does not reset the clock. Reactivating a dormant account is not automatic either, it requires the client to complete a reactivation form that then goes through a Client Services review, so a lapsed account does not simply un-freeze on the next login.

Currency conversion and overnight charges that eat into a withdrawal

Trading any instrument that settles in a currency other than the account’s base currency triggers a conversion charge of plus or minus 1.0% from the market rate, applied to realized profit and loss as well as to fees and charges, per the same fee page. Positions left open at 5pm ET are charged financing daily against SONIA, SOFR or €STR plus or minus 2.5%, including on weekend days when no market is trading, and the fee page is explicit that a hedged position, one long and one short leg held open together, gets charged financing on both sides rather than netting to zero. None of this is a withdrawal fee in the strict sense, but each one reduces the balance a client eventually pulls out.

What holds a withdrawal up

The funding FAQ states that if the card or account originally used to fund the account is closed, lost, stolen or otherwise unavailable, the firm will not simply send the money elsewhere: “in accordance with our anti-money-laundering policy, we are legally obligated to verify the status of the original funding account before we can process a withdrawal of funds to another source.” In practice that means a client whose original card has expired needs to produce bank-issued documentation proving that before a withdrawal to a different destination goes through, a real point of friction for anyone who funded with a card they no longer hold.

What we did not find on Forex.com’s own pages

The pages we fetched give minimums, maximums and processing windows for wire, card, Skrill, Neteller and local transfer, and say nothing about a withdrawal fee separate from the ones described above. We did not fetch a dedicated Forex.com withdrawal-fee schedule beyond this funding FAQ, so figures like exact withdrawal minimums or a maximum per withdrawal request are not established here beyond what the FAQ states for deposits and matching transaction bands.

Our previous review of Forex.com scored this broker 5.7 out of 10 overall; this one scores it 7.4. That is not because the funding terms changed, the fees score behind that move sits at 9 out of 10, driven by RAW Spread pricing at a flat $5 to $7 per $100k traded and by reading the actual funding FAQ rather than an older summary. The support score, by contrast, sits at 5.0, and the same funding page is part of why: the anti-money-laundering hold on withdrawals to a new destination, and the firm’s own admission across several pages that “typical” or “as low as” figures may not apply to accounts referred by an introducing broker, both point to a client needing to go through support to actually get paid out in anything other than the simplest case.

Customer Support

The support score in this scorecard is 5.0 out of 10, the lowest mark anywhere in this review, and the evidence explains why: a wide spread of phone lines and addresses across entities, but no stated hours for most channels, and a chat function whose actual response times are not published anywhere we fetched.

How to reach Forex.com

The contact page we fetched lists an international phone number, +1.908.315.0653, alongside a UAE number, +9718000321278, and two Arabic and English account-opening lines for the Middle East, +971600521641 and +971600521744. A WhatsApp option is also offered, described as a way to chat with Relationship Managers and sales team on WhatsApp for tailored support and inquiries. The same page lists “Online Chat” as a support option in its Help & Support navigation, and separate FAQ pages on accounts, platforms and pricing repeatedly point a client back to the same channel, telling them to “start a chat with our support team.” None of these pages state operating hours for phone, WhatsApp or chat, and none give a target response time.

The contact page lists two addresses: global.support@forex.com for general support, and sales.mea@forex.com for account-opening sales in the Middle East and Africa. Whether the same global support address applies to every entity a client might be onboarded under is not something the pages we read state.

Support is split by which entity holds the account

Forex.com is not one company for support purposes. The pages we fetched show GAIN Global Markets Inc. registered at 30 Independence Blvd, Suite 300, Warren, NJ 07059, USA; StoneX Financial Ltd giving a UK address at Moor House First Floor, 120 London Wall, London, EC2Y 5ET; StoneX Europe Ltd registered at Nikokreontos 2, 5th Floor, 1066 Nicosia, Cyprus; and a Cyprus tied agent, KQ Markets Europe Ltd, at Athalassas 62, Mezzanine, Strovolos, Nicosia. Japan has its own arrangement entirely: StoneX Securities Co., Ltd. (StoneX証券株式会社) lists a dedicated phone line, 0120-288-168 or 03-6868-2123, with receipt hours given as weekdays 9:00 to 17:00, plus a named external dispute-resolution body, the Securities and Financial Instruments Mediation Assistance Center, reachable on 0120-64-5005 during the same weekday hours. That Japan-specific complaint escalation route is more explicit about hours and process than anything published for the other entities in the evidence we hold.

For anyone contacting the firm about a problem, this matters: which entity onboarded the client determines which office, which regulator, and on the Japan side, which named mediation body actually stands behind the complaint. The pages we fetched do not state a single support hours policy or a single complaints escalation path that covers all entities at once.

What the terms say about disputes and reliance on Forex.com’s own information

The AU/MEA terms page states plainly that “FOREX.com is not responsible for communication failures or delays when trading via the Internet,” pushing the risk of a dropped connection or a delayed order onto the client rather than the firm. The same terms state that content on the site “is subject to change at any time without notice,” so a client cannot treat published information, including support-related details, as fixed.

On liability for the firm’s own commentary, the UK terms page we fetched states: “FOREX.com is not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on such information,” referring to opinions, news, research, analyses and prices published on the site. A separate contact page carries a near-identical disclaimer for its calculator tools, stating that the user agrees not to hold FOREX.com or any of its affiliates, liable for trading decisions that are based on the currency converter / pip & margin calculators from this website. A client who calls or messages support with a dispute over a loss traced back to the firm’s own published research, forecasts or calculator output starts that conversation already having waived the claim in the terms they agreed to.

We also read that FOREX.com is not liable for any loss or damage… which may arise directly or indirectly from use of or reliance on such information, and that if a margin call is missed, “your position may be liquidated, and you will be responsible for any resulting losses,” with no negative-balance protection stated in that disclosure. Neither of these is a support-channel fact on its own, but both shape what a client can realistically expect a support conversation to resolve: the firm’s own terms rule out liability for the scenarios most likely to prompt a complaint in the first place.

What we could not confirm

An earlier review of this broker described support in eight languages, a specific published email address, and stated response times for live chat and social media, but none of those specific details appeared on the firm’s own pages in the evidence we fetched, so we are not repeating them here as current fact. Similarly, the AU/MEA terms page notes that FOREX.com publishes a separate ‘FOREX.com Complaints Handling Policy’ document alongside its Terms & Policies, confirming a formal complaints process exists in name, but the content of that policy, response-time commitments included, was not among the pages we read. A reader who wants the actual escalation steps and timeframes needs to pull that document directly rather than rely on a summary.

This review scores support at 5.0 out of 10; the overall score has moved from 5.7 in our previous review to 7.4 now. That earlier figure was not a support-specific score, and the movement in the overall number reflects this review’s own reassessment against current evidence across every criterion, not a change in how Forex.com runs its support desk. On support specifically, the evidence above, multiple regional contact points with no unified hours or response-time disclosure, and broad liability disclaimers covering the firm’s own published information, is what this review’s low mark rests on.

Prohibited Countries

What we found, across the firm’s own pages, are three separate exclusion statements tied to specific entities and products, plus one clear finding of absence.

United States: CFDs are off the table

The firm’s site states plainly: “Contracts for Difference (CFDs) are not available for US residents.” That is a product exclusion, not a country ban on the firm as a whole. US clients are still served, but through a different entity: GAIN Capital Group LLC, doing business as FOREX.com, registered as a Futures Commission Merchant and Retail Foreign Exchange Dealer with the CFTC and the NFA under NFA ID 0339826, a registration the NFA BASIC register confirms as “NFA Member Approved”. A separate page names a related entity, SFI, as registered with the SEC as a broker-dealer and with the CFTC as a Futures Commission Merchant and Commodity Trading Advisor, and as a FINRA member; we hold no register entry to check the SEC, CFTC or FINRA claims against, so those three sit unverified. What is documented is the product line, not the person: a US resident can open an account, but not one that trades CFDs.

Who StoneX Europe Ltd will actually take on

The firm’s German-language site states that StoneX Europe Ltd’s products and services are directed exclusively at residents of a named list of states: Austria, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden, plus Switzerland outside the EEA. Read as written, this is an inclusion list: it names who StoneX Europe Ltd will serve, which means a resident of any EEA or European state not on it falls outside what this page describes. StoneX Europe Ltd is the entity the Cyprus Securities and Exchange Commission register confirms under licence 400/21, so the exclusion sits with a real, checkable authorisation, not just marketing text.

Belgium is the clearest case of a state left off that list, and the firm says so directly elsewhere: the AU/UK root marketing page states “FOREX.com products and services are not intended for Belgium residents.” Belgium does not appear in the EEA states named for StoneX Europe Ltd either, so the two statements point the same way for that country.

What Forex.com does not publish

We checked the homepage, legal, terms and legal-documents pages for a restricted-country list and found none, a check run from an Indonesian exit point on 27 July 2026. An earlier version of our evidence for this broker carried a list of countries commonly excluded by CFD brokers, including Iran, North Korea, Syria and Cuba, but we could not tie that list to any page Forex.com actually publishes, so we dropped it rather than repeat it here. A reader should not take that removal as a claim that those countries are welcome; it is a record of what we could and could not source, nothing more. Anyone checking eligibility for a country not named above should expect the firm’s account-opening flow, which we did not access, to be the place that answers it.

The UK banner is routing, not a ban

Several pages served under the site’s international, Cayman-regulated section (GAIN Global Markets Inc., the entity CIMA confirms under licence 25033) carry a banner stating the content “is not intended for UK customers” and offer a redirect. That is not a prohibition on UK residents using the firm; it reflects that UK clients are meant to be served by a separate entity, StoneX Financial Ltd, rather than by the page a UK visitor happened to land on. We note it here because a UK reader hitting that banner on the international pages could otherwise misread it as being turned away from Forex.com altogether, when the evidence shows it as a routing notice between entities within the same group.

Conclusion

Forex.com operates through four different regulated entities depending on where a client signs up, and our evidence shows why that matters more than a single headline score can capture. GAIN Global Markets, Inc. carries CIMA licence 25033, confirmed on the Cayman Islands Monetary Authority’s List of Securities Investment Business Licensees. StoneX Europe Ltd carries CySEC licence 400/21, confirmed on the Cyprus Securities and Exchange Commission’s register of Cypriot investment firms. GAIN Capital Group LLC holds NFA ID 0339826, confirmed on the NFA BASIC register as an approved member with current CFTC registration as a Futures Commission Merchant and Retail Foreign Exchange Dealer. StoneX Securities Co., Ltd. (StoneX証券株式会社) is confirmed on the Japan FSA list under Kanto Local Finance Bureau registration, Financial Instruments Business Operator No. 291 ((金商)第291号). Against that, FRN 446717, held by StoneX Financial Ltd, comes back from the FCA register as “See full details” rather than a plain confirmation, and the broker’s own German language legal page names Canada, Singapore, Japan, Australia and the UK as regulated jurisdictions without giving a licence number for most of them on the pages we read. The result is a mixed regulatory picture: several of the entities behind the Forex.com brand are solidly confirmed on primary registers, one is unresolved, and several more are asserted by the firm without a checkable number, which is what a 6.5 reflects.

What Forex.com charges

The fee evidence is where this review moved. StoneX Europe’s own fee page puts the RAW Spread account commission at a fixed $5 per $100,000 USD traded on FX, with the account comparison page giving a worked example of $10 commission on a 200,000 USD/JPY buy and $11 on a 200,000 EUR/USD buy at 1.1000. The Standard account carries no commission at all, with cost taken through the spread. Share CFDs are quoted from 0.08% on the firm’s own market pages. Set against that are costs that only show up in the small print: a $15 monthly inactivity fee after 12 months with no trade placed or position held, a currency conversion charge of plus or minus 1.0% from the market rate whenever an instrument settles in a currency other than the account’s base currency, and overnight financing at SONIA, SOFR or €STR plus or minus 2.5%, charged on positions open at 5pm ET including weekend days. The fee page is explicit that a hedged position gets charged financing on both sides of the trade rather than netting to zero. None of this makes the headline pricing dishonest, but it does mean the 9 for fees is a score for the advertised spread and commission structure, not a guarantee that a dormant or hedged account escapes further charges.

Platform and execution

The platform score sits at 8.9, and the evidence supports a broad build: MetaTrader 4 and MetaTrader 5 (with a FX Blue app suite and free VPS hosting for qualifying clients on MT5), the firm’s own Web Trader and desktop and mobile apps, and a direct TradingView connection with 80 plus indicators. The one caution worth naming is in the small print on the AU/UK marketing pages: the 100% of trades executed in under 1 second and 0.002 seconds average execution speed figures are footnoted as covering GAIN Global Markets, Inc. orders only, over a single specific month, and excluding MetaTrader trades entirely, so a client actually trading on MT4 or MT5 is not the client that statistic describes.

Where the score can’t reach

Support is the weak point at 5.0. The evidence shows phone numbers, WhatsApp, and live chat referenced across several regional pages, and the contact page we fetched lists global.support@forex.com as the support email, but no hours or guaranteed response time are published for the chat channel on the funding FAQ. Reviews sit at 7.6. Set against all of that, the firm’s own UK root page discloses that 74% of retail investor accounts lose money trading CFDs with this provider, a figure worth holding next to any account type a reader is weighing.

We searched 1,441 entries mirrored from the CySEC, FCA and FSC Mauritius warning lists and Forex.com, GAIN Capital, GAIN Global Markets and StoneX appear on none of them. Other names turned up on those same lists carrying “forex” in the domain, including several the FCA register names as clones of an authorised firm, and none of them is this broker. Anyone searching around the Forex.com name should know those are separate, unrelated listings, not a mark against the firm reviewed here.

Our previous score for this broker was 5.7 out of 10; this review scores it 7.4. That move is ours, not a change in the firm: fees moved up on the strength of the RAW Spread commission structure and worked examples we read directly from StoneX Europe’s own fee pages, and platform moved up on the confirmed breadth of MT4, MT5, TradingView and the firm’s own apps. Support stayed weak because the contact page itself failed to resolve a working email address. This review restates the score from the evidence gathered this time, not from any change at the firm.

Forex.com trades through StoneX Europe Ltd, GAIN Global Markets, GAIN Capital Group and StoneX Securities in Japan, each confirmed on its own register, and charges from $5 per $100,000 traded on RAW Spread accounts across MT4, MT5, TradingView and its own apps. TrueBroker scores it 7.4 out of 10.

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