I want to first begin by quantifying, I am a experienced fx trader and have definite and unwavering opinions concerning forex trading when it comes to american traders.
I got shoved to forex.com when fxcm went out of business, i was somewhat satisfied with fxcm though my account was small, which i will address later in this review. Forex.com it arguably the worst forex provider i have ever experienced. Their platform is pure garbage , it is the worst platform i have ever used. After the past few months of using it, i understand why they use it! When entering or closing a trade, the slippage is no less than 2 to 4 pips. their spreads only worsen the situation. But it's the blatant slippage that is infuriating, and how have i come to this conclusion ! I run several platforms simultaneously and watch every move in a given pair to the .001 pip. Since they are a market maker, they think they are smart by hiding the slippage with the retarding of the price action within their platform. It is not smart, but instead it is pure deceit, and should be actionable in a court of law.
I decided years ago, that if I wanted to be successful as a FX trader, I needed to have a foreign account. Since americans are so stupid, we are not allowed to open account with foreign brokerages, and they are not allowed to have us either. Well, since am not a serf or subject, and i have a residence overseas, i have opened an account with a top swiss broker! Until american traders are allowed to open foreign accounts, with that ability to hedge trades and have reasonable leverage, generally in the 100:1 range, they will never be successful. Until american traders do not have to use "so called brokers" such as forex.com , only then can they expect to be successful. Until the regulations are changed, american traders can expect nothing but failure.
I have a lot of reservations about even submitting a review, because i demand anonymity in my life. but sooner or later we all need to speak up, and as i trade basically nothing with us brokers, i took a low 6 figure account to the mid 7 figure range with my foreign broker.
In closing, forex.com is the worst broker and criminal in the way their platform steals from traders with retarded price action and slippage.