FOREX.com, now operating as FX by StoneX, is part of StoneX Group Inc - a publicly listed global financial services firm on the NASDAQ. Founded in 1999, FOREX.com brings institutional-grade market access and liquidity to retail traders, with regulation under the FCA, ASIC, and multiple other authorities. For Gulf traders who prioritise execution quality and the credibility of trading with a publicly listed financial institution, FOREX.com represents a compelling option.
Overview
FOREX.com Overview
FOREX.com was established in 1999 and has operated continuously for over 25 years, making it one of the longest-running dedicated retail forex platforms in the world. In 2020, FOREX.com became part of StoneX Group Inc, a diversified global financial services company listed on the NASDAQ under ticker SNEX with revenues exceeding $60 billion annually. This parent company relationship gives FOREX.com access to institutional-grade liquidity, technology infrastructure, and risk management resources that pure retail brokers cannot replicate.
The broker now operates under the FX by StoneX brand in some markets while retaining the FOREX.com name in others. Regardless of branding, the underlying infrastructure - including the counterparty relationships, liquidity pools, and regulatory standing - remains the same. For traders who view counterparty risk as a meaningful consideration, trading through a NASDAQ-listed financial institution provides a measurable degree of reassurance.
FOREX.com serves clients in the UAE, Saudi Arabia, Kuwait, and broader MENA, offering Islamic accounts and regional payment method support. Its customer base skews toward experienced traders who value execution quality and market depth over platform simplicity.
Pros & Cons
- Part of publicly listed StoneX Group (NASDAQ: SNEX)
- FCA and ASIC regulated
- MT4 and MT5 both supported
- RAW spreads from 0.0 pips available
- Islamic account available
- Deep institutional liquidity
- Standard spreads not market-leading (1.0 pip EUR/USD)
- Platform less intuitive than xStation or Capital.com
- Less marketing presence in MENA than competitors
- RAW account requires higher minimum deposit
Regulation & Safety
FOREX.com Regulation
FCA - Financial Conduct Authority (UK)
GAIN Capital UK Ltd, trading as FOREX.com, is authorised by the FCA under reference number 190864. FCA regulation provides UK and international clients with segregated fund protection and access to the FSCS compensation scheme for eligible clients.
ASIC - Australian Securities and Investments Commission
GAIN Capital Australia Pty Ltd holds an Australian Financial Services Licence. ASIC regulation covers Australian clients and international clients onboarded through the Australian entity.
IIROC and CFTC/NFA
FOREX.com holds registration with the Investment Industry Regulatory Organization of Canada (IIROC) and is registered with the CFTC and NFA in the United States. The breadth of regulatory coverage across major Western jurisdictions reflects the broker's institutional operating model.
Account Types
FOREX.com Account Types
Standard Account
The Standard account offers commission-free trading with spreads embedded in the price. EUR/USD averages approximately 1.0 pip. The minimum deposit is $100. This account is suitable for retail traders who prefer a single transparent cost rather than managing spread-plus-commission calculations.
RAW Pricing Account
The RAW account provides near-institutional spread pricing starting from 0.0 pips on EUR/USD, with a commission of $5 per standard lot per side ($10 round turn). The minimum deposit is $500. At typical volumes, the total cost on the RAW account is approximately 0.5-0.7 pips equivalent on EUR/USD, making it competitive with dedicated ECN brokers.
Islamic Account
FOREX.com offers Islamic swap-free accounts for Gulf traders requiring Sharia-compliant conditions. Overnight financing is replaced with a fixed fee structure. Available on both Standard and RAW account types.
Trading Platforms
FOREX.com Trading Platforms
FOREX.com Web Platform
FOREX.com's proprietary web platform provides a streamlined trading environment with real-time charts, economic calendar integration, and a news feed from StoneX's research division. It is functional and responsive but lacks the advanced analytical features of ProRealTime or xStation 5.
MetaTrader 4 (MT4)
Full MT4 support with access to FOREX.com's pricing and execution. Compatible with all Expert Advisors and custom indicators. The MT4 integration is stable and well-maintained.
MetaTrader 5 (MT5)
FOREX.com is one of the few retail brokers offering both MT4 and MT5. MT5 provides expanded timeframes (21 vs MT4's 9), more order types, and a faster backtesting engine. For traders building or migrating automated strategies to MT5, this dual availability is a genuine advantage.
Not sure which platform to use? Read our guide: MT4 vs MT5 vs cTrader - Full Comparison
Spreads & Fees
FOREX.com Trading Costs and Fees
| Pair | Standard | RAW |
|---|---|---|
| EUR/USD | 1.0 pip | from 0.0 pips + $10 RT |
| GBP/USD | 1.5 pips | from 0.3 pips + $10 RT |
| USD/JPY | 1.0 pip | from 0.1 pips + $10 RT |
Overnight Swaps and Inactivity
Standard swap rates apply on non-Islamic accounts. FOREX.com does not publicly state an inactivity fee, but traders should verify current terms during account opening. No internal deposit or withdrawal fees on standard methods.
See how FOREX.com spreads compare to other brokers: Live Spread Comparison Table · Forex Spreads and Fees Explained
Deposits & Withdrawals
Deposits and Withdrawals
Payment Methods
- Visa and Mastercard - instant processing
- Bank wire transfer - 2-5 business days
- Cheque - available in select jurisdictions
Minimum Deposit
$100 for Standard accounts, $500 for RAW accounts. Subsequent deposits have no stated minimum.
Customer Support
FOREX.com Customer Support
FOREX.com provides 24/5 support via live chat, telephone, and email. Support quality is consistently rated positively for technical and account-related queries. Arabic language support is available for MENA clients through the broker's regional team.
Our Verdict
Our Verdict on FOREX.com
FOREX.com (FX by StoneX) makes its strongest case to experienced traders who place weight on counterparty credibility and institutional execution quality. Trading with a NASDAQ-listed financial institution that handles over $60 billion in annual revenues provides a level of counterparty assurance that most standalone retail brokers cannot offer.
The RAW account is genuinely competitive for high-volume traders, with near-institutional spreads at $10 per round turn. However, Standard account spreads at 1.0 pip on EUR/USD are unremarkable, and the platform, while functional, does not match xStation 5 or ProRealTime for analytical capability. Traders selecting FOREX.com are choosing infrastructure quality over platform experience.
For Gulf traders, the availability of both MT4 and MT5 - rare among brokers of this tier - is a meaningful practical advantage for those running automated strategies or planning to migrate between platforms.
Overall rating: 4.0 / 5 - Best for experienced traders who value institutional backing and MT4/MT5 dual support; Standard account costs are average.
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