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.
TradeStation is a US broker with a long history dating back to 1982. Its parent company, the Monex Group is listed on the Tokyo stock exchange. TradeStation is considered safe as it is regulated by a top-tier regulator, the US FINRA. Clients are eligible for the SIPC investor protection scheme which offers up to $500,000 (cash up to $250,000) per account.
|#||Broker's Features||TRADESTATION 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 TradeStation 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. TradeStation offers Online Financial Trading and Investment Services Such as N/A, 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. TradeStation is DMA, 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. TradeStation is regulated by CFTC, FCA, NFA, SEC, 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. TradeStation offers USD, EUR, GBP, AUD, CAD, HKD, SGD, CHF, and JPY. 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. TradeStation offers Languages:English, 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. TradeStation offers Bank Wire Transfer 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, TradeStation 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 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. Customer service in your national language might not be a major concern for traders based in English-speaking countries, but it is a defining requirement for traders from other regions such as Asia and South America. Forexcom has a wider range of languages in which customer service is offered making the broker more accessible. As a market maker, Forexcom may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
Forex.com has low forex fees and a wide currency pair offer. It has also great and diverse technical research tools.
TradeStation Global deposit and withdrawal can be improved. It is not user-friendly and you can use only bank transfer. The account opening is complicated and there is a $1,000 minimum account balance. The available web trading platform is not advanced.
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.