GAIN Capital (Forex.com) Review 2012 - Ratings, Likes, Dislikes, Comparison, Open Account

Review and ratings of GAIN Capital Holdings, Inc. (Forex.com) is available on this page. Compare it with other FX brokers or share your experience.

3.5 1
Gain Capital Ratings
Commissions & Fees:
Trading Technology:
Research & Analysis:
Investments Offered:
Education:
Customer Service:
 
Overall Rating:
 

Last review date: 2/17/2012

Recommended For...
Retail Clients:
Active Private Traders:
Institutional Clients:

Recommendation is based purely on our own opinion, but we try to be objective as possible!

Basic Features
Commission Type:
Spread
Forex Trades Fee:
7.00 USD

Displayed 'Forex Trade Fee' is spread based. Commission for Forex trades is an estimation of fees charged per round turn of $100,000 major pair units. The cost of no-commission brokers is calculated as average spread markup on majors.

Execution Type:
DD/ECN

DD - Dealing Desk, STP(MM) - Straight Through Processing/Instant Execution, STP(DMA) - Straight Through Processing/Direct Market Access, ECN - Electronic Clearing Network

Minimum Deposit:
250 USD
Minimal Contract Size:
1,000
Maximal Leverage:
1:50
Account Base Currencies:

AUD, JPY, GBP, CHF, NZD, USD, EUR

Commission on GTX platform for round turn (100k) is $5. Maximal leverage is 200 if you trade via U.K. entity.

Typical Spreads (Majors)
Spread Type:
Variable
EUR/USD:
1.5
GBP/USD:
2.2
USD/JPY:
1.2
USD/CHF:
1.9
AUD/USD:
1.7
USD/CAD:
2.3
Account Features
Islamic (Swap-Free) Acc.:
Managed Accounts:
Segragated Accounts:
Virtual Trading:
Demo Account Duration:

 
Account Opening:
U.S. Citizens Allowed:
Account Opening Type:
Online
Time To Open Account:
10 Minutes
Paper-Work Required:
Notarization Required:
Documents Delivery:

Email/Fax

Non U.S. Residents must submit two forms of identification, including one photo ID (i.e. passport), AND one proof of address (i.e. utility bill, drivers license, bank statement, etc). Non US Residents must also complete a W-8BEN Certificate.

Deposits/Withdrawals
Deposit Currencies:

USD, EUR, CAD, JPY, CHF, AUD, GBP

Withdrawal Fee:
40.00 USD
 
Deposit/Withdrawal Methods:
Wire Transfer:
Credit/Debit Cards:
PayPal:
Moneybookers:
Neteller:
Check:
ACH:

Withdrawal requests via wire transfer will incur a $25 fee for wires within the United States.

Bonuses
Prize Contest:
1st Deposit Bonus:
Refer a Friend Bonus:
Trading Technology
WEB App:
Desktop App:
Mobile App:
Automated Trading App:
API Programming:
 
Software/Platforms:
MetaTrader4 (MT4):
VikingTrader (Currenex):
PowerTrader (Currenex):
MirrorTrader (Tradency):
ZuluTrader:
Tradable Instruments/Underlyings
Forex:
Stocks:
Options:
Futures:
CFDs:
Spread Betting:
 
Underlyings:
Currencies:
Oil & Gas:
Precious Metals:
Commodities:
Indices:
Stocks:
Bonds:
 
No. of Currency Pairs:
48

GAIN Capital offers trading with Gold/USD and Silver/USD next to most common currency pairs.

Order Types
Market:
Limit:
Stop:
Market If Touched (MIT):
Trailing (Server Side):
Trailing (Client Side):
One-Cancels-Other (OCO):
If-Then (Conditional):
Bid/Offer (Inside Spread):

MT4 trailing orders are client based, while FOREXTrader is server side platform.

Trading Features
Hedging Capability:
Scalping Allowed:
One-Click Orders:
Chart Trading:
Guaranteed Stop-Losses:
Fractional Pips:
Tools & Research
Charting Package:
Free Data Feed:
News Feed:
Market Alerts:
Calendars:
Analysis:
Trading Strategies:
AutoChartist:
Online Community:
Investment Education:

FOREX.com charges a data fee of $15 per month if there is no trading activity or no open positions for a period of 90 days or more.

Customer Service & Support
Phone Support:
Email Support:
Live Chat Support:
Skype Support:
Call-Back Support:
Phone Dealing:
24/7 Support:
Contact Info
GAIN Capital Holdings, Inc., 44 Wall Street, New York, New York 10005, United States
 
 
Tool-Free Phone: +1 877 FOREXGO
International Phone: +1 908 731 0750
 

Stocks-For-Beginners.com is Gain Capital (Forex.com)'s affiliate and is being compensated for every new opened client's account.

Forex.com - Gain Capital Review

At Forex.com you will find advanced trading tools and superior customer support, which are all part of our commitment to help you pursue your goals. Clients' success is their priority.

Very Positive - Competitive spreads and trading costs.

Could do Better - Wider range of investments offered.

Introduction

Forex.com is one of the largest and best well-known global Forex brokers as far as the retail Forex industry is concerned and is the consequence of an initiative by its parent company GAIN Capital Holdings, Inc. GAIN Capital is a leading company in the online Forex trading industry and offers products and services related to Forex trading to its customers. Its client base is comprised with institutional as well as retail investors spread over one hundred and forty countries around the world.

Apart from the US, Forex.com has a lot of international affiliates in countries like Australia, Hong Kong, Japan and United Kingdom. This company is the best destination for traders who would like to make use of trading opportunities in Forex markets as well as other major markets around the globe. Forex.com is committed to providing its customers with trading tools, a secure Forex trading experience online and round the clock customer service. The retail traders of Forex.com can gain access to global Foreign exchange market with the assurance that they are being guided by a market leader. Courtesy of its efficiency, customers are assured of having useful and effective resources at their disposal that would help them take advantage of currency markets around the world for their benefit.

Investments Offered and Basic Conditions

In terms of investments offered, those using the US affiliate of Forex.com have more than forty five currency pairs available to them for trading. Apart from currencies, Forex.com also offers the chance to invest in gold and silver. For those using the UK or the AU affiliate of Forex.com, the investments offered are different. These people not only get the chance to trade in foreign currency and precious metals but they can also trade in vital global resources like sugar, soya bean, cotton, wheat, corn and other commodities. Trading in the energy sector comprises of heating oil, natural gas, crude oil, etc and in addition to these investments offered, equity indices are another option.

The customers of Forex.com, irrespective of the country, get complete freedom when it comes to choosing their trade activity or size. In order to trade with Forex.com one has to agree with the terms and conditions stated on the website. Also, the traders are advised to be a bit more cautious when making investments given the volatile nature of the Forex market. Also included in the basic terms and conditions is the privacy policy of the company and customer agreement which all traders must go through.

Types of Accounts

Users using Forex.com from Australia, Hong Kong, Japan, United Kingdom and United States get to choose from two basic types of accounts namely a live account and a practice account. A practice account is a core element of the educational effort of Forex.com and likewise it is meant to familiarize and educate users about the various features and tools of the trading platforms offered by the broker company. Also, a practice account offers a risk-free environment where traders can put their Forex trading skills to the test. On opening a practice account, users are credited with USD 50,000 in their accounts for making trial Forex transactions. The maximum period for usage granted for a live account is thirty days.

Once you have had your fill with practice account and you want to start over with a clean slate then you can go ahead and open a live account. Such an account allows you to trade 'live' in the sense that it would provide you access to the global Forex market so that you can start investing and earning.

When it comes to opening an account with Forex.com, there are certain countries from which account applications aren't accepted. The reasons for prohibition of account applications from such countries are the company's policies and governmental restrictions. The list of prohibited countries is available on Forex.com.

Opening an Account

The task of opening a practice account is relatively easy because it is just a one-step process. Details such as full name, country of residence, pin code, email address and preferred language need to be entered. After the account is created, the user can choose a platform to begin trading. One can either go for website trading or one can download the desktop trading platform called ForexTrader PRO. For Macbook users, they need to login to ForexTrader PRO.web. All the features of these three trading platforms are presented in a tabular form.

In order to open a live account, one has to go through five steps, of which the first step entails choosing the account type, i.e. individual, joint or company account. The second step is to provide personal details and contact information and is followed by the third step which consists of feeding financial and funding information to Forex.com. Fourth step is mostly concerned with reviewing and the fifth step requires you to declare that you accept all the agreements and rules.

Software

The software applications or trading platforms for users of Forex.com in UK, USA and Australia have slight variations. Users in UK and USA are given three platforms to use, namely ForexTrader, MetaTrader 4 and Forex ECN. Under ForexTrader, there are four different options namely ForexTrader PRO (for PC users), ForexTrader PRO.web (for PC & Mac users), Forex.com web trading (for those who want to use the website) and ForexTrader mobile (for Blackberry, Androids, iPad, iPhone and other smartphones users). Forex ECN or GAIN GTX, on the other hand, is a highly liquid ECN marketplace where customers can trade directly with other customers.

Users in Australia, on the other hand, are just provided with ForexTrader and MetaTrader 4.

Trading Tools and Research

Trading tools and research are an integral part of Forex trading because these provide users with ideas and inspirations on how to become better traders and trade more effectively. Users are provided with a column on latest research findings posted by experts, i.e. the members of the research team of Forex.com.

Weekly insights are also provided. For independent research, customers of Forex.com can use Autochartist and Trading Central, both of which are independent research providers. An economic calendar is also provided which has three settings - daily, weekly and monthly. One can also go for a personal market strategist service in order to receive one-on-one supervision and training pertaining to Forex trading. A user-friendly charting tool is also provided to help users identify potential Forex trading opportunities and to spot trends.

Education

Forex.com offers its customers with resources which can help them build their confidence and increase their knowledge as far as the Forex market is concerned. All the resources provided by the company are extremely user-friendly. One can choose from video tutorials, training courses, recommended reading or articles and references to soak up some knowledge about this form of trading. Additionally, one can also attend webinars in order to get hands-on training, pick up techniques and sit through demonstrations designed for active traders.

Awards

A division of GAIN Capital group, Forex.com has managed to bag a lot of awards. In 2011 it was awarded the Best Online FX Provider award by MoneyAM readers while in 2010, readers of Investors Chronicle and FT voted Forex.com as the Best Forex Platform. Forex.com also received several other awards in the year 2010, one of them being the Best Retail Services Provider award which it received at the Middle East Online Trading Summit. This was followed by being conferred by the Best US Forex Broker at the Forex Expo awards and Best FX Broker award courtesy Shares Awards. Not only this, the website also managed to sweep a lot of awards each year starting from the year 2001.

Promotions, Challenges and Bonuses

Forex.com offers lucrative promotion offers and bonuses. For instance, on opening an account with Forex.com and funding it, the company will provide a bonus ranging from USD 50 to USD 5000. The bonus is deposited upon funding of the account. The complete breakdown of the amount of deposit and corresponding bonus receivable is given on the website. Thus, by providing this kind of incentives to account holders, Forex.com tempts them to fund as much as they can to their accounts.

What Makes Forex.com Different?

Forex.com distinguishes itself from other players in the market because it allows beginners, amateurs and novices to own a practice account for thirty days and use it to spend virtual USD 50,000 for investment purposes. Not only this, it offers real-time trading for up to 48 currency pairs and the spreads are very low. Another factor that makes this broker company a cut above the rest is the choice of active (desktop), web or mobile trader platforms. Powerful Forex charting and daily research resources are also some of the impressive features of Forex.com.

Customer Support

Speaking to a Forex.com specialist is as easy as pie because the company offers 24 hour support. Apart from live chat service available on the website, one can also call up the toll free number. However there are specific timings for this service. In addition to these two contact methods, email support is also offered. Individuals with queries can email them to Forex.com through one of the three email addresses provided. Also, the full address of the corporate Headquarters of Forex.com along with the address of headquarters of all its affiliates in different countries worldwide is provided on the website.

 

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