Is Forex.com Legit? Should You Trust It?

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Is Forex.com Legit

Forex.com is an international brokerage company that’s been around since 2001. The broker is well-known for its diverse array of available instruments and quite attractive conditions for traders. However, many users of Forex.com have reported on various issues with the company recently, including terminal freezes and serious withdrawal delays. In this article, we’re going to provide a quick overview of the broker and tell you whether you should trust it.

Overview

Founded more than two decades ago, Forex.com have managed to build a strong presence all around the world. The broker’s central office is in Bedminster, New Jersey. However, it has a wide network of offices in North America, Europe, and Asia, too. The company works in more than 180 countries and provides thousands of its clients with direct access to the global markets while allowing to trade all kinds of assets, including currency pairs, stocks, metals, and crypto.

The broker’s trading conditions are usually seen as pretty favorable for traders, too. While the minimum deposit to start trading is relatively high ($1000), there is also a demo account which can be used to learn more about the company without creating a real account. The leverage is 1:400 at the maximum, so experienced traders may implement some high-risk strategies with this company. The spread is floating with the minimum of 0.2 pips.

Forex.com does not support PAMM accounts, so you can’t use this broker to earn some passive income. However, there are several options for active traders. You can choose between 3 main account types with their own conditions. The broker allows you to use various platforms: MT4, MT5, and the broker’s proprietary platform. All in all, the conditions are pretty good. But then, what’s with all those complaints from users? Is Forex.com legit after all?

Reliability

Most of the negative comments received by the broker lately relate to slow order execution or terminal freezes. While that may be frustrating, these problems most definitely come from the sheer volume of trades. So that doesn’t have anything to do with reliability. If you experience something like that, you can always contact the customers’ support. Well, not exactly always: the support works 24/5 and sometimes it also gets overloaded by angry traders.

But what about the withdrawal issues? It turns out, they have nothing to do with the company being unreliable in any way, too. Actually, the broker is heavily regulated. So you can be quite sure your money are safe with the company.