Welcome to our Forex.com review. By reading this Forex.com review India’s investors will see that this site offers you a safe way to trade the biggest cryptos.
It’s important to note that Forex.com isn’t all about crypto trading. You’ll find that you can trade anything from foreign currencies to commodities here. All of which means that we had plenty to cover in our Forex.com review – including information on the fantastic trading rates, simple to use platform, and excellent choice of cryptocurrencies!
Security, Usability, Look & Feel - Easy ways to make your Forex.com crypto trades
We think that Forex.com has put together a comprehensive online broker site. To be honest there is so much information on the Forex.com site that newcomers to crypto trading might feel slightly out of their depth here.
But we felt that the Forex.com site felt professional and there were clear links to guide you towards the main crypto trading options, foreign currency exchanges and so on. You’ll get the choice of using the main Forex.com trading platform via the web or your mobile, or there is the option of trading on the popular MetaTrader 4 software. All of which makes for a secure and efficient trading experience.
How To Trade – Getting started with your Forex.com crypto trades
Just click on the Open An Account button on the Forex.com homepage and then you’ll see that you get a choice of opening a Forex.com, MetaTrader or DMA account. There’s also the option of opening up a demo account.
Regardless of which account type you choose, you’ll always have to provide some of your personal information so that Forex.com can verify your account. Once you’ve done this, you’ll be able to make a deposit with one of the accepted currencies and then look forward to trading your cryptos.
Payments - No Indian rupee deposits available for Forex.com crypto trading
Unfortunately it looks like you won’t be able to make deposits in Indian rupees at Forex.com. This is because the brand’s only accepted currencies are USD, EUR, CAD, JPY, CHF, AUD and GBP. Thankfully you will be able to use some reputable payment methods for adding money to your account. These include all major credit and debit cards, PayPal or wire transfer.
You should know that you’ll have to make a minimum deposit of $100 per time with a card or PayPal payment method. While Forex.com won’t charge any fees for adding money to your account, your bank might charge service fees if there is a currency conversion involved.
There are no fees for withdrawing your money from Forex.com and the payments should be made within 48 hours. Withdrawals can be made via card, PayPal or wire transfer. The maximum withdrawals for PayPal are $20,000 per transaction, while this rises up to $100,00 for card withdrawals.
Customer Service - Live chat found in our Forex.com crypto review
Forex.com hosts an efficient and professional customer service team. This is available all day and every day. There’s a great live chat service that offers you the fastest way to get your queries resolved, although you’ll also have the option of sending the brand an email.
We should note that there is an exhaustive help section on the site that can walk you through all of the main trading aspects of the site. Plus with lots of useful tutorials, you won’t be left in the dark at Forex.com.
License & Security - The most important part of our Forex.com crypto review
Forex.com is registered with all of the major global regulatory bodies such as the UK Financial Conduct Authority and so on. It’s worth noting that this is a seriously large online broker that has over $10 billion in total assets as of 2020 which suggests that it won’t vanish overnight.
The brand has made sure that your deposits will be safe as they will be kept segregated from the broker’s own funds while being held in top-level banks. Don’t forget that this is a completely encrypted website, so that there is no chance of your personal data somehow falling into the wrong hands.
Reputation and Customer Feedback – Has there ever been a Forex.com Bitcoin scam?
We’re impressed to see that there have never been any major hacking incidents at Forex.com. Plus the majority of the authoritative reviews of Forex.com show that this is a legitimate online broker.
While all of this is very positive, we have to note that we stumbled across some negative reviews of Forex.com. Many of these seemed to be targeted towards the brand’s customer service team which we didn’t have any kind of problem with in our review. All of which suggests that Forex.com has a fairly positive reputation, although there is always room for improvement.
Cryptocurrencies - Fair amount of cryptos found in our Forex.com review
You’ll probably already know Forex.com as being one of the world’s leading online brokers. So it was surprising to see that such an established brand would take a chance on the relatively new cryptocurrency trading market.
However, it’s worth noting that you don’t actually buy cryptocurrencies here. Instead, you’ll be trading CFDs which means that you could profit if the price of a crypto like Bitcoin rises. There are many more benefits to not actually owning the asset such as not having to deal with exchange fees.
Forex.com actually hosts a fairly limited number of crypto trading options when compared to a standard exchange. But you can still trade on the value of major cryptos like Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple. This is probably enough to meet the needs of most newcomers to crypto trading, although those looking for some lesser-known cryptos may need to head elsewhere.
Fees - Fair trading costs found in our Forex.com review 2021
All crypto brokers will charge fees. The key is to find a broker whose fees won’t put too large a dent in the returns that you make from your trades. We have to admit that it took a fair amount of work to actually find what kinds of trading fees Forex.com includes. But in the end we found a page that displayed the Forex.com commission fees for its professional trading platform.
This revealed that you can expect to pay fees of 5% on cryptocurrency trades. This is a fair amount of money, but it’s roughly what you’d expect from most crypto broker sites. Just so you know, the trading fees drop to 3% for shares, while they go down to 0.50% for commodities or just 0.25% for major indices and the biggest foreign currencies.
Jurisdictions and Limits - Truly global Forex.com cryptocurrency service
While India currently has no legal regulation in place to anticipate the arrival of online broker services like Forex.com, it’s important to note that this brand has signed up to all of the planet’s leading financial regulatory bodies.
This can be seen in the fact that Forex.com is regulated in the seven major global jurisdictions and is used by over 200,000 traders in 180 distinct locations. There is no ruling global body for markets like foreign currency exchange and crypto trading. But you’ll feel confident in trading at Forex.com due to the brand’s regulation by the UK Financial Conduct Authority, the US National Futures Association and so on.
Other Trading - Plenty more here besides Forex.com crypto trading
Forex.com is a serious online broker service that gives you access to trades on all of the leading global markets. Foreign currency trading is particularly popular here as you’ll get to buy and sell over 80 different currency pairings.
Beyond the forex markets, you can securely buy and sell over 220 different kinds of equities, along with a host of popular indices and commodities. Shares trading also features significantly at Forex.com with access to tight spreads and low commissions on everything from Amazon to Apple and beyond.
There are over 300 different kinds of trading products currently available at Forex.com and the brand has deservedly won acclaim for the sheer breadth of its trading service. So whether you’re trading gold and silver, or Bitcoin and Litecoin, we think that you’ll like what you find here.
Overall Conclusion - Highlights from our Forex.com crypto India review
Few people would argue with the fact that Forex.com is a heavyweight online broker. It’s a great option for anybody with experience of online asset trading. Some newcomers to crypto trading might find that there’s almost too much information on the site, but we felt that there’s enough help here to assist in putting down your trades.
Above all, Forex.com has great rates on all of the biggest cryptos, although you will need to factor in those trading fees. All of which means that we’d recommend that you sign up to Forex.com for your crypto trades.
Forex.com Review FAQ
❓Is Forex.com legit?
You should always do plenty of research before signing up to any crypto broker. After all, these sites will have access to your money and personal information. Take a look at our Forex.com review where we examine the crypto broker platform for a number of important features. Don’t worry as we aren’t singling this site out for special attention, as our Etoro review was handled in a similar manner.
✅How do I get a Forex.com login?
All decent crypto brokers will have a rigorous sign up procedure. They do this so as to ensure that only you get to access your account. Thankfully, it should only take a few minutes to set up and verify your account at the Forex.com crypto trading site. Take a look at our Forex.com review 2021 where we’ll take a look at what kinds of personal information you may have to supply to get your login.
💰What are the Forex.com fees?
It’s fairly common to find that you encounter a range of fees when you enjoy some crypto trading. This means that you might be hit with fees for anything from buying Bitcoin to selling Ethereum. Be sure to read our Forex.com crypto review to see what the brand’s latest fees are. You will then be able to compare these costs to the fees that we found in our Prime XBT review to see which broker offers you the best value for money.
💵 What is the Forex.com minimum deposit?
The majority of crypto brokers will only let you make deposits from a minimum amount. They do this so as to ensure that taking your deposits makes business sense for themselves. Take a look at the best Forex.com review India has to offer to see what the minimum you can deposit at this broker site is. Don’t forget to compare this minimum amount to what we discovered when we carried out our XM.com review.
👀Can I get a Forex.com demo account?
It’s understandable that you might feel somewhat cautious when it comes to using the Forex.com crypto trading site or a site like we found in our SwissQuote review. After all, not everyone will succeed with their investments as cryptocurrencies are notoriously volatile. But by reading our guide to Forex.com crypto India’s investors will see whether this site allows you to get a demo account. This would allow you to practice trading without worrying about losing any of your money.
Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. They may not be suitable for everyone. Please make sure that you fully understand the risks. You should consider whether you can afford to take the risk of losing your money.