Forex com 2 Review: One-Stop Shop for Forex Traders.

Many or all of the products here are from our partners that pay us a commission. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page. is one of the top platforms for foreign currency trading. Foreign exchange ("forex" or "FX") is a global marketplace where one currency is converted into another. is one of the leading FX brokers in the U.S., offering transparent pricing and an advanced trading platform. In this review, we'll look at the investment platform, its fee structure, and the pros and cons for investors deciding whether to use for their FX trading.

Rating image, 3.5 out of 5 stars.

Info Icon Circle with letter I in it.

Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor.

Bottom Line. is among the leading trading platforms for high-volume FX and beginner FX investors.

Varies by account type.

Account Minimum:

Full review.

This FX broker is a good fit for: High-volume FX traders and beginner FX traders interested in learning more about forex. The FX market is the largest and most liquid financial market in the world, but many top stock brokers don't offer FX trading.


Advanced trading platforms Advanced charting and technical research tools Comprehensive educational tools Active Trader Program.


U.S. traders have limited access to investment products U.S. traders do not get negative balance protection U.K. website offers more resources than U.S. website Inactivity fee.

Top perks.

FX trading.

The foreign exchange market is the world's most active market. Investors around the world can trade 24 hours a day, five days a week. Most of the large stock brokers don't offer access to the FX market. gives investors access to over 80 currency pairs and according to their site, they are the largest FX broker in the U.S. in terms of client assets.

Financial strength and security. is registered with the Commodity Futures Trading Commission (CFTC), and is regulated in four Tier-1 jurisdictions, including the U.S., U.K., Canada, and Japan. This makes it a low-risk broker for FX trading.'s parent company is StoneX, a publicly traded company on the NASDAQ (ticker: SNEX).

Advanced trading platform. has an easy-to-use trading platform and traders have several versions to choose from. Users can trade on's web platform, on their iPhone and Android apps, on their desktop trading platform, or on a third-party FX trading platform called MetaTrader.

Free FX trading education and research tools. offers free and comprehensive forex trading courses for beginners and experienced traders. has teamed up with TradingView, one of the top charting technology companies, to offer advanced tools for technical analysis and trading. There are over 90 individual indicators to choose from. Traders can also create their own customized indicators and charts.

Active Trader Program.

High-volume traders receive exclusive benefits such as cash rebates, earned interest, waived bank fees, and dedicated one-on-one support. These cash rebates can reduce trading costs by up to 15%, and traders can earn up to 1% APY interest on their average daily available margin.

To qualify for this Active Trader Program, investors must make a minimum initial deposit of $10,000 or trade $50 million in a calendar month. To remain eligible, investors must trade a minimum of $50 million per quarter or keep an average account balance of $25,000.

What could be improved.

Limited access to products for U.S. traders.

The products and services that offers depend on a trader's location. Investors in the U.S. can only trade in FX, metals, and futures with They cannot trade in stock, bonds, or funds due to regulatory restrictions. To invest in the stock and bond market, you need to open an account elsewhere.

No negative balance protection for U.S. traders.

Most stock brokers offer up to 4:1 leverage in a brokerage account. This type of account lets you buy and sell stocks and other types of investments. This means for every $1 in an account, a trader can place a trade worth up to $4. FX brokers, by U.S. law, can offer an investor 50:1 leverage. So, for every $1, a trader can place a trade worth up to $50.

Using high leverage can result in large losses. Negative balance protection protects investors from losing more than they deposit into their accounts. does not offer negative balance protection for U.S. traders. This means that U.S.-based traders are responsible for paying more money than they initially deposited into their accounts. In other words, if a FX trade goes against a trader, the loss can be greater than the amount in the account, and the trader owes that money to the broker.

Let's say a trader deposits $10,000 and enters a FX trade with a 5:1 leverage. That position would be worth $50,000. If the trader's position suddenly dropped by 25%, the loss due to the leverage would be $12,500, or 125% of the deposited money. The $10,000 initial balance would not be enough to cover the losses, and the trader would owe the broker $2,500.

U.K. website offers more resources than U.S. website.

Due to the regulations in the U.S., has a website specifically designed for U.S. traders. operates in over 140 countries and offers trading on asset classes including forex, indices, stocks, and commodities through "contracts-for-differences" (CFDs).

A CFD is a financial contract that allows traders to speculate on an investment without having to own the underlying asset. CFDs are not allowed in the U.S. With more investments offered for non-U.S. based traders, the U.K. website offers more educational resources, tutorials, and tools than the U.S. website.


An FX broker generates most of its revenues from currency spreads. It is important to first understand how currency spreads work to better understand the costs of trading FX.

How FX currencies are quoted.

The spread is the difference between the bid and ask rate when trading currency pairs. Currencies are always quoted in pairs. When you buy one currency, you are selling another currency.

The first currency is the base currency, and the second currency is the quote currency. The quote represents how much of the quote currency is needed to get one unit of the base currency. For example, the most common forex pair is the EUR/USD (Euro and U.S. dollar). If the quote is 1.14, this means it would take $1.14 USD to buy one Euro. Like stock quotes, forex quotes are provided with bid and ask prices.

How spreads are calculated in FX.

This bid-ask spread is the difference between the prices at which a broker buys and sells a currency. Traders looking to sell are quoted the bid price, and a trader looking to buy is quoted the ask price. The bid-ask for the EUR/USD from the website (as of Feb. 3, 2022) is:

Pair BID ASK EUR/USD 1.1432 1.1434.

The difference is $0.0002, or 2 pips (percentage in points). A pip is one-hundredth of one percent (1/100 of 1%), or 0.0001 (fourth decimal place). The difference between the EUR/TRY (Euro/Turkish Lira) was 731.8 pips as of Dec. 31, 2021.

Spreads vary based on the currency, the time of day, economic conditions, and the broker. The wider the spread, the lower the liquidity and higher the volatility. The lower the spread, the higher the liquidity and lower the volatility. This spread is how FX brokers like make revenue.'s spreads are competitive and simple to understand. account types. does not charge a fee, but instead charges a spread or commission based on trading volume. Pricing is based on the type of account. Pricing is transparent, and the live spreads are on All accounts require a minimum deposit of $100.

Standard account.

Traders with a standard account are charged spreads with no commissions. The spreads are variable, and as low as 1.0 pip for the EUR/USD. Traders can use the and MetaTrader trading platforms with the standard account. This type of account is best for beginner FX traders.

Commission account.

Traders with a commission account are charged a raw spread with a commission. A raw spread means there is no mark-up by the broker. The spread can be as low as 0.2 pip for the EUR/USD. The commission is a fixed $5 per $100,000 traded. Traders can only use the trading platforms with a commission account. This type of account is best for FX traders who want the tightest spreads, and are willing to pay the commissions.

STP Pro account.

Traders with a STP (Straight-Through-Processing) Pro account are charged variable spreads as low as 0.1 on most major currency pairs, with no commission. The low variable spreads start at $60 per million dollars traded. A minimum deposit of $25,000 is required, along with a minimum trade size of $100,000. This account is called a DMA (Direct Market Access) account outside the U.S. Traders can only use the trading platforms with this kind of account. STP Pro trading accounts give traders access to multiple levels of real-time pricing and liquidity. This type of account is best for high-volume FX traders who want to see a real-time view of the FX market.

Rollover rates.

When trading currency, you are borrowing one currency to purchase another. The rollover rate (also known as swap fees) is the interest charged or earned for holding positions overnight. A rollover interest fee is based on the difference between the interest rates of the traded currencies.

Rollover rates can be as high as 18.28 pips for USD/TRY. Rollovers are applied to open trades at 5 p.m. ET. Traders can be charged additional currency conversion charges.

Inactivity fee. charges a $15 monthly fee for inactive accounts after there is no trading activity for 12 months.

Trading platform. offers traders a wide range of platforms to trade on. Traders can use's proprietary trading platforms, or the full suite of MetaTrader 4 platforms. Only certain accounts can use MetaTrader 4, and not all features available on's platform are available with MetaTrader 4.

Desktop trading.'s proprietary trading platform, Advanced Trading, is a desktop app designed for experienced traders. Traders can also use MetaTrader 4 (MT4), a third-party platform for trading forex. It is one of the world's most popular FX trading platforms. MetaTrader 5 (MT5) is also available for traders -- however, only certain assets can be traded on it, and it is not available in the U.S.'s version of MT4 offers more integrated tools and market research than the standard MT4. also offers traders access to free MetaTrader Expert Advisors (EAs). EAs can provide traders with customizable algorithms to help monitor and execute trades.

Web-based trading.'s web trading platform is designed for beginner forex traders. It is a user-friendly, streamlined interface that can be customized to a trader's preferences. Traders can also use MT4's web-based platform.

Mobile trading.'s mobile app is available for both Android and iPhone. The mobile app offers the full functionality of the web trading app. Traders can receive price-based alerts and order alerts via push notification. Traders can also use MT4's Android and iPhone app.

Margin rates.'s margin requirements (the minimum amount of money that traders must have in their account to borrow from the broker and make a trade), vary by currency pair. It can be as low as 2% for the U.S. dollar and Canadian dollar (USD/CAD) pair and high as 100% for the silver and U.S. dollar (XAG/USD).'s margin requirements also differ according to the platform used ( or MetaTrader), market, asset class, and position size. The larger the trade, the higher the risk level. uses step margin levels to increase the margin requirement at specific quantity levels.

Research offerings. has an in-house team that provides forex market research, analysis, and market updates. also offers its traders a platform analysis tool called Trading Central. It sends volatility alerts and trade opportunities based on identified patterns and technical analysis. offers a wide range of forex and platform trading programs based on experience level. Traders can access interactive courses with videos, written guides, and tutorials. The beginner trader program covers eight in-depth themes to help get started. All of these educational materials are offered for free on its website, and are accessible even without an account.

Alternatives to consider.

If you want a broker that offers access to FX and stocks: TD Ameritrade offers some of the most comprehensive investing and banking experiences among big brokers, including a high-quality trading platform, $0 commissions for stocks and ETFs, plus mutual fund and forex access.

If you want a broker that offers the most investments: IG is a multi-asset broker that offers comprehensive trading and research tools, in-depth education, and a wide range of investment products. IG spreads are more competitive for top currency pairs. IG also uses MetaTrader 4 as a platform, but only offers 76 tradeable instruments. IG's web-based platform is not as intuitive as's.

RELATED: Check out The Ascent's comparison of vs Robinhood.

This brokerage is right for you if:

If any of these apply, is a solid pick.

You are a beginner FX trader: FX trading can be intimidating for beginners. offers a comprehensive range of education and research tools. You are a high-volume FX trader: High-volume traders receive exclusive benefits such as cash rebates, earned interest, waived bank fees, and dedicated one-on-one support. You value educational resources: Traders at all levels can benefit from's in-depth interactive courses, webinars, guides, and other resources. A robust trading platform is important to you: has multiple trading platforms that are easy to use and sophisticated. You want to use a low-risk broker: is regulated in four Tier-1 jurisdictions, including the U.S., U.K., Canada, and Japan.

About the Author.

David S. Chang, ChFC®, CLU® is an award-winning entrepreneur, keynote speaker, author, and consultant. He has over two decades of experience in the wealth management space and has been featured in dozens of news, radio, and podcast programs nationwide. He currently works as Head of IoT for the West Region of a Fortune 200 company. He is a graduate of the United States Military Academy at West Point and currently a Lieutenant Colonel in the California Army National Guard. He is an East-West Graduate Degree Fellow and has an MBA from the UCLA Anderson School of Management.

Share This Page.

We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.

The Motley Fool has positions in and recommends Intuit. The Motley Fool has a disclosure policy.

The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.

Copyright © 2022 - 2023 The Ascent. All rights reserved.