The world’s largest Forex company, with a daily volume of 15.5 Billion USD, is Forex.com. It reach this status after the downfall of FXCM and obtaining the client base of its former rival. In addition, the consolidation of the US retail Forex market meant that there are only 2 players remaining.
The Chief Executive Officer of Forex.com is Glenn Stevens.
A major benefit of this company is its customizable platform. That is, all of the displays, tools, and reports are customizable, enabling a trader to set things up so all they need where they need it, when they need it. The trader can even use partner apps for further customization.
Forex.com also provides one of the most complete mobile solutions on the market. The mobile solutions (that is for iOS and Android platforms) are engineered to provide the same tools as the desktop version. Advanced orders are possible on the mobile app. This is beneficial for trader on the go, and it enables them to cancel orders with other trades, create conditions for trades to be placed, and use trailing stops for profit taking. Plus, the mobile apps support the play of educational videos on allowing traders to up skill themselves no matter where they are.
Another benefit of Forex.com is that is cuts out the middleman. The middleman for trades is removed, thereby increasing transparency, and lowers trading costs.
The company offers two account types: Standard, and Active Trader. The ActiveTrader account was launched in November, 2016 in Canada and US and soon it will also be rolled out to the rest of the markets where the broker operates. ActiveTrader account holders may benefit from an average 15% reduction on our standard spreads. Spreads on this account type can be as low as 0.7 pips on EUR/USD, plus, their clients get personalized support, priority service and no commission fees on accounts.
In terms of support, the company offers news and analysis for their clients. Daily, weekly, and quarterly research reports are published from outside sources as well as a full-time, in-house analyst team. They also offer an online learning center, and there are videos and other reading material for clients to study. The company also offer online courses for those that want to learn how to trade.
Clients of Forex.com may use bank transfer, as well as debit or credit cards as payment methods. US clients may also make deposits and withdrawals via Check and eCheck (this is limited to U.S. bank accounts only), while EU clients can use Sofortbanking (online funds transfer available in the UK, Germany, Switzerland, The Netherlands and Belgium only).
On a negative note, the investment products offered by Forex.com is limited to the US. Only some CFD products are available for overseas clients. Plus, trade is capped at $ 13 per trade and the minimum deposit is set at $ 500.