Forex.com is currently one of the larger online brokers that is cornering the U.S online retail trading scene. The trading platform is owned and managed by a holding company known as GAIN Capital which is in direct competition with FXCM for the domination of the U.S market.
|#||Broker's Features||FXGM Availability||FOREXCOM Availability|
|#||Accepts US traders||❌||✔|
|#||24 hour trading||❌||❌|
|#||Trading by phone||❌||❌|
|#||1st deposit bonus||❌||❌|
|#||Forex contests competitions||❌||❌|
|#||Interest charges on the balance||❌||❌|
|#||24 hour support||❌||❌|
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will compare FXGM vs Forexcom.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. FXGM offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Cryptocurrency, Futures, while Forexcom offers Currencies, Commodities, Indices, CFD, Cryptocurrency.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. FXGM is Dealing Desk, while Forexcom is Market Maker.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. FXGM is regulated by CySEC, FSCA, while Forexcom regulated by CFTC, NFA. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Account currencies: Next lets consider the Account currencies each broker offers. FXGM offers different account currencies for each account types, while Forexcom offers EUR, GBP, USD, AUD, CAD, CHF, JPY account currencies.
Languages Available: Next lets have a look at each broker's different Language options. FXGM offers English, Finnish, Italian, Polish, Spanish, Swedis, while Forexcom offers Arabic, English, Japanese, Russian, Chinese, Arabic. Customer Support Languages.
Payment methods: Next lets have a look at each broker's payment options. FXGM offers Credit/Debit Cards, E Merchant Payment Solutions, EasyEFT, Klarna different payment methods for each account types, while Forexcom offers Credit/Debit Cards, Bank Wire Transfer payment methods.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, FXGM makes Proprietary available to clients, while Forexcom offers MT4, WebTrader.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, Forexcom is more reliable based on our criteria above. Only Forexcom offers demo account, allowing you to test their platform to see which is suitable for you. Only Forexcom Offers the MetaTrader Platform. MetaTrader platform is a comprehensive trading platform that is often touted as being the best for forex trading. A popular, versatile and unique tool. Forexcom offers a wider range of platforms making it easier for the traders to choose one that matches their needs most. Forexcom offers a wider range of Account currencies. Why does base currencies matter? Because if you fund your account in the same currency as your bank account, currency conversion fees won't be charged.
Forex.com has low forex fees and a wide currency pair offer. It has also great and diverse technical research tools.
The product portfolio is limited, providing only forex and CFDs. The stock CFD fees are high. Its desktop trading platform is not user-friendly.
Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.