FOREX.com — costs, regulation & account details
FOREX.com (brand of StoneX Group Inc.), operated regionally by GAIN Capital Group LLC (US), StoneX Financial Ltd (UK), StoneX Europe Ltd (EU), StoneX Financial Pty Ltd (AU), GAIN Global Markets Inc. (international/Cayman), StoneX Financial (Canada) Inc., StoneX Financial Pte. Ltd. (SG)
Overview
- Legal / official name
- FOREX.com (brand of StoneX Group Inc.), operated regionally by GAIN Capital Group LLC (US), StoneX Financial Ltd (UK), StoneX Europe Ltd (EU), StoneX Financial Pty Ltd (AU), GAIN Global Markets Inc. (international/Cayman), StoneX Financial (Canada) Inc., StoneX Financial Pte. Ltd. (SG)
- Parent company
- StoneX Group Inc. (NASDAQ: SNEX); acquired GAIN Capital Holdings Inc. in 2020 for ~$236 million
- Founded
- 2004
- Headquarters
- Warren/Bedminster, New Jersey, USA (FOREX.com/GAIN Capital); parent StoneX Group Inc. headquartered in New York, NY
- Publicly listed
- True
- Accepts customers from
- Global coverage via regional entities: US, Canada, UK, EU/EEA, Australia, Singapore, Japan, and many other countries via GAIN Global Markets Inc. (Cayman). A Dubai/Middle-East licence was reported obtained in Aug 2025 (see confidence_notes). No published master list of eligible countries was found.
- Notable exclusions
- No comprehensive public exclusion list found on accessible pages. Entity-level restrictions apply (e.g. US residents may only trade via the US entity; Canadian accounts only accept Canadian-issued cards for deposits; UK retail clients cannot access crypto CFDs). Verify per-country at onboarding.
Regulation & entities
Brokers operate multiple legal entities; the protections and leverage you get depend on which one holds your account.
| Entity | Regulator | Licence | Region |
|---|---|---|---|
| GAIN Capital Group LLC (dba FOREX.com) | CFTC (registered RFED & FCM) / NFA member | NFA ID 0339826 | United States |
| StoneX Financial Ltd | FCA (UK) | FRN 446717 | United Kingdom (FOREX.com UK trading name; note GAIN Capital UK Ltd announced surrender of its separate FCA authorisation in Jan 2026 — StoneX Financial Ltd continues FOREX.com UK) |
| StoneX Europe Ltd | CySEC (Cyprus) | 400/21 (company reg. HE409708) | EU/EEA |
| StoneX Financial Pty Ltd (ACN 141 774 727) | ASIC (Australia) | AFSL 345646 | Australia (post Aug-2025 City Index AU rebrand to FOREX.com; legacy entity GAIN Capital Forex.com Australia Pty Ltd held AFSL 340255) |
| GAIN Global Markets Inc. | CIMA (Cayman Islands), Securities Investment Business Law | 25033 | International/global clients outside the major regulated regions |
| StoneX Financial (Canada) Inc. | CIRO (Canada), CIPF member | Not stated | Canada |
| StoneX Financial Pte. Ltd. | MAS (Singapore) | Not stated | Singapore (FOREX.com launched there May 2025, absorbing City Index Singapore) |
| FOREX.com Japan (StoneX group entity) | FSA (Japan) | Not stated | Japan |
Accounts & pricing
| Account | Pricing model | Commission (round turn) | Typical EUR/USD spread | Min. deposit |
|---|---|---|---|---|
| Standard (spread-only) | Spread-only, no commission (all-in dealer spread) | 0 | Not stated | USD 100 minimum (FOREX.com recommends $2,500) |
| RAW Pricing (US entity) | Raw spread + commission | 14 | Not stated | USD 100 minimum |
| RAW Spread (non-US / global entities) | Raw spread + commission | 10 | Not stated | 100 units of account base currency |
Professional client account
Elective-professional status is only for traders who already meet strict eligibility tests. It removes retail protections — read what you would give up before considering it.
- Offered
- True
- Eligibility
- Elective professional (MiFID-style) test — must meet at least 2 of 3: (1) average of 10 significantly sized leveraged transactions per quarter over the last 4 quarters; (2) financial instrument portfolio including cash deposits exceeding €500,000; (3) at least 1 year working in a professional financial-sector role requiring knowledge of leveraged products
- Max leverage (pro)
- Up to ~1:400 on certain pairs (margins from ~0.25%) per third-party reviews and the sister-brand City Index pro schedule; FOREX.com does not publish a single headline figure on accessible pages
- Pricing/rebate vs retail
- Core spreads/commissions same as retail, but professional clients get monthly volume-based cash rebates (FOREX.com 'professional client cash rebates' program), an optional credit facility (subject to approval) and a dedicated relationship manager. Sister brand City Index publishes FX rebate tiers of £4–£7.50 per £1m notional starting at £25m monthly volume; FOREX.com-specific tier values are not published on accessible pages
- Protections lost
- Negative balance protection; FCA/ESMA retail leverage caps; 50% margin close-out protection; standardized retail risk warnings (communications may use 'sophisticated language'); potentially reduced Financial Ombudsman access
- FSCS treatment
- Not clearly published by FOREX.com. Under FCA rules elective professional clients CAN remain FSCS-eligible in some circumstances, but treatment is not confirmed for this broker — verify directly before relying on it
- Regional notes
- Offered by the UK (FCA, 'FOREX.com Pro') and EU (CySEC, forex.com/ie professional) entities; Australia uses the separate wholesale-client classification; the US has no retail/professional distinction (uniform CFTC 50:1 leverage)
Costs
- Deposit fees
- None charged by FOREX.com for card or bank transfer deposits; incoming wires free from the broker's side (your bank or intermediary banks may charge)
- Withdrawal fees
- US entity: bank wire withdrawals $25 domestic / $40 international (incl. Canada), fee waived for withdrawals over $10,000; card withdrawals free. Other regions: withdrawals generally advertised as free — verify per entity
- Inactivity fee
- $15 (or 15 units of base currency) per month after 12 months with no trading activity
- Swap notes
- Rollover/financing charges apply to positions held overnight (rates per instrument on platform); note rollover charges are NOT simulated in demo accounts
Platforms & execution
- MetaTrader 4
- True
- MetaTrader 5
- True
- cTrader
- False
- TradingView
- Yes — TradingView integration (trade FOREX.com account from TradingView); proprietary platform charting is also TradingView-powered; Capitalise.ai automation available in EU/UK
- Proprietary
- Yes — FOREX.com web, desktop and mobile platform ('Advanced Trading' suite)
- API access
- REST API available for eligible clients; FIX API support reported for institutional/high-volume clients (third-party corroborated, not verified on an accessible primary page)
- Execution model
- Principal/market-maker — the broker is counterparty to client trades (by definition as a US RFED); internalizes/hedges flow. Some third-party reviews describe STP-style routing to liquidity providers; DMA available for eligible high-volume clients
- Max leverage (by region)
- US retail: 50:1 majors (CFTC). UK retail: 30:1 majors (FCA). EU retail: 30:1 majors (ESMA/CySEC). AU retail: 30:1 majors (ASIC). Professional/wholesale: up to ~1:400. Global (Cayman/CIMA) entity: higher leverage commonly reported (up to ~1:400-1:500) but not verified on accessible primary pages. Canada: CIRO margin-based. Japan: 25:1 FSA standard (not directly verified)
- VPS
- Expert Advisor VPS hosting (provided via Liquidity Connect) for MT4/MT5: free if you trade at least $500,000 notional volume per month; otherwise $30/month debited from the account
Instruments
- Forex
- Yes — FX is the core offering (spot-style FX in the US; FX CFDs elsewhere); pair count varies by entity, commonly cited 80+ pairs
- CFDs
- Yes outside the US: indices, commodities, shares and more (range varies by entity). US entity offers leveraged OTC FX only (no CFDs for US retail)
- Crypto CFDs
- Yes for eligible regions: 24/7 crypto CFD trading introduced Sep 2025. EU retail max leverage 2:1 (ESMA); Australia available; UK retail: banned (FCA); US: not available
- Crypto for retail (no pro status)
- UK: NO — FCA ban on crypto derivatives for retail remains in force in 2026 (only the crypto ETN ban was lifted, 8 Oct 2025). EU: yes, at 2:1 leverage. AU: yes. US: no crypto offering
Consumer protection
- Negative balance protection
- Retail clients: yes in UK (FCA), EU (ESMA/CySEC) and Australia (ASIC) where it is mandated; LOST on professional/wholesale status. US: not mandated by CFTC and not guaranteed. Cayman/global entity: not mandated.
- Client fund segregation
- UK/EU: client money segregated under FCA CASS / CySEC rules; AU: ASIC client money rules; US: retail forex funds held by an RFED have NO statutory segregation/insolvency protection (no SIPC equivalent).
- Compensation scheme
- UK: FSCS up to £85,000 (StoneX Financial Ltd clients); EU: CySEC Investor Compensation Fund up to €20,000 (StoneX Europe Ltd); Canada: CIPF; US, Australia and Cayman: no compensation scheme.
- Stated retail loss %
- 74
Reputation
Trustpilot: 4.6 (Trustpilot)
Regulatory actions / fines
- 2010: NFA fined GAIN Capital $459,000 over unfair slippage practices, margin handling and poor supervision
- 2020: CFTC $500,000 penalty related to onboarding US clients through the UK entity (unregistered activity)
- 2020: CFTC $300,000 penalty for supervisory failures over client accounts
- 2022: NFA fined GAIN Capital $700,000 over the mishandling of a March 2021 system error, rule violations and misleading regulators
Noted issues
- Trustpilot complaint themes (2026): withdrawal delays and account verification checks are the most common complaint; some reports of app lag, feed/login issues
- Corporate restructuring: Jan 2026 — GAIN Capital UK Ltd announced surrender of its FCA authorisation; FOREX.com UK continues under StoneX Financial Ltd
- Ongoing brand consolidation: City Index Australia rebranded to FOREX.com (Aug 2025); City Index Singapore transitioned to FOREX.com (Apr-May 2025)
Sources
Every figure above is drawn from these sources, retrieved as of the dates shown.
- Regulation & entities overview (2026-07-11)
- Company history, ownership, fines, 2025-26 developments (2026-07-11)
- GAIN Capital / FOREX.com launch dates (2026-07-11)
- Trustpilot score (4.6/5, ~2,326 reviews) and complaint themes (2026-07-11)
- US RAW Pricing commission ($7 per $100k per side; EUR/USD roundtrip example $15.40 at 1.10) (2026-07-11)
- US RAW Pricing account (spreads from 0.0, platforms) (2026-07-11)
- Global RAW Spread account commission ($5 per $100k traded per leg) (2026-07-11)
- Trading costs / typical spreads methodology (page Cloudflare-gated at research time) (2026-07-11)
- Withdrawal fees (US: $25 domestic / $40 international wire; waived over $10k) (2026-07-11)
- Inactivity fee ($15/month after 12 months inactive) (2026-07-11)
- Professional account UK (FOREX.com Pro) (2026-07-11)
- Professional account EU + eligibility criteria (2 of 3 test) (2026-07-11)
- Professional client cash rebates (2026-07-11)
- Professional max leverage ~1:400 (secondary corroboration) (2026-07-11)
- Demo account: 90-day expiry, pricing matches live, execution/rollover caveats (2026-07-11)
- Crypto CFDs by region (EU 2:1, AU available, UK retail banned, US unavailable; 24/7 since Sep 2025) (2026-07-11)
- FCA crypto derivatives ban for retail (in force since Jan 2021) (2026-07-11)
- FCA lifted only the crypto ETN ban for retail (8 Oct 2025); derivatives ban retained (2026-07-11)
- CySEC register: StoneX Europe Ltd licence 400/21 (2026-07-11)
- NFA BASIC: GAIN Capital Group LLC (NFA ID 0339826) (2026-07-11)
- Australia entity: StoneX Financial Pty Ltd, AFSL 345646; FOREX.com AU launch (2026-07-11)
- Retail loss disclosure (74% UK; 72-76% range across entities) (2026-07-11)
- VPS: free over $500k monthly notional, else $30/month (Liquidity Connect) (2026-07-11)
- Partnership/IB/affiliate program (CPA, scaled and volume-based models; rates not published) (2026-07-11)
- NFA $700k fine (2022) detail (2026-07-11)
- EUR/USD spread estimates per account type (secondary; used for context only, not recorded as fact) (2026-07-11)
Data notes: Direct fetches of forex.com and trustpilot.com were blocked by Cloudflare bot protection at research time; facts were verified through search-indexed content of FOREX.com's own pages (URLs cited), regulator registers, Wikipedia and secondary reviews. NULLS AND CAVEATS: (1) typical_spread_eurusd_pips left null for all accounts — FOREX.com publishes typical/median spreads monthly on its trading-costs page, which was inaccessible; its own wording is 'as low as 0.0' on RAW accounts, and third-party measurements suggest ~0.2 pips average on RAW and ~1.0-1.4 pips on Standard, but no exact primary figure could be verified. (2) Commissions are charged per $100k of USD-equivalent notional PER LEG, not flat per lot: US RAW Pricing = $7/leg = $14 round turn per $100k USD notional (an EUR/USD lot at 1.10 works out to $15.40 RT, more at 2026 rates); global RAW Spread = $5/leg = $10 round turn per $100k USD notional. The commission_per_lot_round_turn_usd values (14 and 10) are the per-$100k-USD-notional round-turn figures. (3) currency_conversion_fee, swap-free/Islamic availability and copy trading could not be verified either way — FOREX.com is notably absent from major swap-free broker roundups, suggesting no Islamic account, but this is unconfirmed. (4) cTrader = false is inferred from its consistent absence from FOREX.com's platform pages and all major reviews. (5) A Middle-East licence obtained Aug 2025 is reported by Wikipedia as a 'Dubai CMA' licence — regulator name is ambiguous (likely DFSA or UAE SCA) and was excluded from regulation[]. Wikipedia also lists a Hong Kong SFC licence historically; not independently verified. (6) Japan and Canada entity names/licence IDs were not verified against the FSA/CIRO registers. (7) Retail loss % shows 72-76% across entities/dates; 74% is the UK risk-disclosure figure. (8) Professional max leverage (~1:400) and offshore leverage (up to ~1:500) are third-party corroborated only. (9) Affiliate CPA/revshare amounts are negotiated and not published; program confirmed at forex.com/en/partnerships/. (10) No published master list of accepted/excluded countries was found. (11) UK structural note: GAIN Capital UK Ltd announced surrender of its FCA authorisation in Jan 2026; FOREX.com UK continues under StoneX Financial Ltd (FRN 446717). During browser checks, navigation attempts to forex.com landed on City Index (same StoneX group) pages, consistent with the group's overlapping UK retail brands.
Cost figures reflect each broker's published specifications as of 11 July 2026 and can change; always check the broker's current terms. Most retail investor accounts lose money trading CFDs. PipTax compares costs and is not investment advice. How we research this.