FOREX.COM – A Quick Review

This particular broker offers several alternatives when it comes to trading accounts. The platforms offered by this broker are easy to work with and tend to be very effective. You will have to use the mouse a lot whenever you are trading but not too much. It is possible to trade on the graph. The broker claims that the program goes is thoroughly checked and is backed up making it a bug free and stable trading platform. It is possible to trade in a wide range of currency pairs with competitive spreads. You will receive more trading tools are you deposit more money. You can open a trading account over the internet in about ten to fifteen minutes. Starting an account is easy but you will be required to provide a number of personal details.

“Demo Trading” – There are three different types of “DEMO” accounts available. The first option will let your practice your trading skills while trying to decide whether or not you want to start a “MINI” account. The 2nd DEMO account is a little different. It allowed you to experiment and determine whether or not you want to start a standard account. The third account is available for people who want to start an account where they transactions will be automatic. The third account allows transactions to be made easier by automatic orders that given by the program itself depending on market conditions. Score: 9.5

Initial Investment – People who want to start a MINI account will have to deposit at least two hundred and fifty dollars. Opening a standard account will cost you at least two thousand five hundred dollars. It should be noted that the leverage and number of trading tools that available to you will be determine by the type of account that you’ve opened. Score 8

Withdrawals and deposits from your account – It can take some time to open an account. Opening an account is done over the internet. You will be required to entire a number of personal details when opening a new account. You can make deposits using a credit card. You will have to ask the broker’s representative to determine what you need to do to withdraw funds from your account. They will be able to tell you how long it will take and how it is done, and the incurring commission. Score: 8

Spread – The spreads that are offered by this broker are competitive and sometimes attractive. They are normally in the range of one to one point eight for the major currency pairs. The offered spread on less popular pairs are also very competitive but high than the popular pairs and lower than what is offered by competitors in the market. Score: 9.2

Stop Point – The broker will guarantee a stop point on those transactions that have a volume about two million dollars. The program is very fast which creates a possibility for small variations under rapidly altering market conditions but usually lesser. You will need to ask the broker whether or not he will offer a stop point under several different types of market conditions.

Leverage – When starting a MINI account it is 5% or 1:200 of the volume of your account. And when you start a standard account it will be 1% or 1:100 of the volume of your account. Score: 7.5

Interest – Clarify with the broker.

Trading Tools: The trading tools that will be available to you will be determined by the size of your account when you open it. The more money you deposit, the more tools will be available to you.

Professional and technical support – 24 hours a day.

Professional articles, Literature and on-line tools –live broadcasts carried out with professional traders.

Trading courses – Online courses are available as well as a 5 hour workshop with the purpose of exchanging strategies.

Market surveys and reviews– Daily as well as weekly interviews and Real time analytical reviews.

Trading alerts – Done using an automatic trading account.

Languages – 5 languages are supported.

Range of foreign currency pairs offered – 37

On-line trading room – It is possible to consult with the broker’s representatives regarding trading alternative.

Personal coaching – None.

Bonuses and free gifts– You can trade using a laptop computer or a cell phone.

Downloading trading platform – The trading platform will very depending on how you intend to trade. It is possible to trade without having to install anything on your computer. In some situations though installing a program on your computer will be a requirement. It is a good idea to check the broker’s website to understand the differences between the two options.

Trading program “friendliness” – A number of different programs are available. These programs are very similar in quality and efficiency but are different enough to be suitable for trading style. There are three different DEMO programs. One is available for a MINI account, one for a standard account and one DEMO account is available that is capable of using an automatic trading strategy. The broker can adjust the program if you decide to trade on a laptop or mobile phone. You can also trade on the broker’s site without having to install a program. You can also use the “MetaTrader4” program. Regardless of which program you use, you will notice that they are all comfortable to work with. Score: 10

Advantages – This particular broker is regulated by a stronger financial body. It is possible to use efficient, sophisticated and comfortable trading platforms. There are a wide range of options available to you. You will be able to find the right options to suit your trading habits. You will be offered a decent amount of trading pairs and low competitive spreads.

Disadvantages – Some people will find that opening an account can be a bit bothersome. You will have to provide a number of person details. You will have to put down more money to open a MINI account than you would with some other brokers. When you start a MINI account, the tools that you will receive will be limited. You have to deposit a large sum of money in order to receive access to all of the tools offered by the broker. Experienced traders with an established strategy might not find the leverage that the broker offers satisfying. Brokers score: 9

Note: from time to time a business, commercial company or broker will change their terms, offer and conditions. They may also change the bonuses that they offer to their clients. This makes it necessary to check with the broker to determine their current terms and bonuses as they could vary from what is mentioned in this article.