FOREX.com broker Accounts

FOREX.com Account Type

FOREX.com offers a variety of trading account types to cater to different trading styles and preferences. The main account types include:

1. Standard Account

• Minimum Deposit: $100
• Features: Ideal for casual traders, offers variable spreads starting from 0.8 pips, access to over 80 currency pairs, and no commission fees.
• Platforms: Available on the proprietary platform, MetaTrader 4, and MetaTrader 5.

2. Commission Account

• Minimum Deposit: $100
• Features: Best for traders seeking tight spreads, with spreads starting from 0.2 pips and a fixed commission of $5 per lot traded.
• Platforms: Available only on the proprietary platform.

3. Direct Market Access (DMA) Account

• Recommended Balance: $25,000
• Minimum Trade Size: 100k
• Features: Designed for serious high-volume traders, offers maximum control with no spread but a standard commission. Not available on MetaTrader.

4. Demo Account

• Validity: 30 to 90 days
• Features: Risk-free environment with virtual funds to practice trading strategies.

5. Islamic Account

• Currently, FOREX.com does not offer a swap-free Islamic account.

FOREX.com Broker Account Opening Process

Opening an account with FOREX.com involves several straightforward steps:

1. Visit the Website: Go to the official FOREX.com site.
2. Choose Account Type: Select the preferred live trading account type (Standard, Commission, or DMA).
3. Fill in Personal Information: Provide details such as full name, email address, phone number, and country of residence.
4. Complete the Application Form: Include additional information like date of birth, employment status, and trading experience.
5. Agree to Terms and Conditions: Read and accept the broker's terms and conditions.
6. Identity Verification: Submit a government-issued ID and proof of address.
7. Fund Your Account: Choose a funding method (bank transfer, credit/debit card, etc.) to deposit the minimum required amount.
8. Download the Trading Platform: Install the FOREX.com trading platform or access the web-based platform.
9. Start Trading: Familiarize yourself with the platform and begin trading.