Forex.com – Is it scam or safe?

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Forex.com is a trading name of the parent company Gain Capital Holdings Inc. The company is licensed in several countries and is regulated by the relevant financial supervision commissions. Licenses allow it to offer financial services, including forex.

However, in 2010, the National Futures Association (NFA) fined Gain Capital to the amount of nearly half a million US dollars. The company was accused of allegedly applying price slippage practices that have led to illegal benefits at the expense of the customers. Gain Capital agreed to recover the amount of negative slippage.

So far, we haven’t received any complaints from clients of Forex.com.

If you feel frustrated by Forex.com and have something to share with us, please fill in the form below, describing your case:

8 Complains

  1. Some of my friends warned me but I didn’t listen to them and opened an account with Forex.com. Do not deal with them! They do the same tricks as other scam companies. They triggered my stop loss order earlier just to realize losses. Ant it seems I am not the only one. Most of complaints are for slippage and top hunting. Stay away! Scam

  2. Forex.com is absolutely scam. Nothing is like it should be. I am leaving them. I am terribly disappointed by this broker and all its products. Neither their website, nor the platform work well. Several times they trigger my stop loss order 2-3 pip before its actual level. The other time, my stop loss was cancelled by their system, already approved by it before that. Fortunately, I monitored my positions at that moment and closed my position manually. This is not acceptable. Not recommended.

  3. I had an account with FXCM and was transferred here. Beware of huge slippage. You will always be slipped no matter volatility. They say they do not manipulate quotes but actually they do this as a market maker. But be sure, the market is not like this their quotes show. I have been trading for tens of years and my opinion is to avoid this broker. After FXCM as shut down I do recommend Interactive Brokers if you can afford at least USD10k to start. Beside this their spreads are tight and the most important: their prices are exact and you won’t be slipped.

  4. Avoid this broker at all costs. The spreads they advertise are not the same as in the real platform. Even when the market is calm my orders are executed with slippage within 0.5-1 pips. Then I did some researches and found that in 2010 this scamming company did the same things with slippage. They filled orders out of the range. All I say is stay away from them. The same old SLIPPAGE story!

  5. I opened a live account with Forex.com and send USD5,000 and provided all the necessary documents but what a surprise! The next day my account was blocked and they gave me no reason. Their customer support told me that if I open a new account, they will transfer these dollars to the new account the same day. However, what they did was to terminate my second account as well. I am still waiting for my USD5k. I’ll probably fill a complain!

  6. I think forex.com is a total scam. I used their demo and without problems I tripled my account. Ten I decided to open a live account and fed it with USD1,500. I started using the same trading pattern as in my demo but here I lost USD20 just for one week. I noticed that if I trade small quantities forex.com doesn’t do a lot against you. But when you increase the trading amount then you start feeling how they trade against you. So, if you have money to lose, go try them. I do not recommend and think they are professional scammers. But they are not alone. The best way to trade is to buy currencies physically. Do not use margin trade, especially market makers like forex.com

  7. Forex.com has the most incompetent support I ever spoke to. Once again, I couldn’t open my account for 20 minutes and this is happening when the important news was about to be announced. His led to big loss of money. When I contacted their customer support they have never helped me. I even spoke to their manager who was on shift explaining him that my pc and internet connection were OK and this was happening many times. The only respond was that they generated a ticket, whose number I could use further. And at the end they said they could do anything to compensate my losing trade. I am very dissatisfied.

  8. I stupidly made an investment of £35,000.00 with Umarket Capital trade, to trade in binary options trade. Now when I made the the payment, my bank called and advised to be careful, stupidly I carried on and I authorized the £35,000.00 payment. Next morning when I switched on computer and checked things at UMarket Capital trade, I noticed they have taken another, fee of £750 plus £1000.
    This has been taken with no input from me. I have now notified my bank and cancelled my card. Is their anything I can do to claim this money back? Luckily I came across a comment on a recovery website that recommended a funds recovery expert on binary/forex and bitcoin recovery, in the person of Mr Chris Elliot, and i contacted him immediately through his email address and explained my issues with my investment broker to him ,God so kind, him and his team worked relentlessly to recover my funds, and was able to build a case on the scam broker with the informations I provided about my trading experience and my funds refunded back to me within a week interval, i was able to get access to my funds back with his help, I still can’t believe how possible it is to get my invested capital back, including my bonus with the company. I feel obligated to recommend him and his great funds recovery strategy, feel free to reach out to him if you having issues withdrawing your funds, via his email address: [email protected] he will guide you on steps to take and get your funds back.
    Goodluck

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