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Forex.com review

Forex.com Review

Overall, FOREX.com is considered low-risk, with an overall Trust Score of 99 out of 100. FOREX.com is licensed by eight Tier-1 Regulators (high trust), zero Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). FOREX.com offers three different retail trading accounts namely a Standard Account, Commission Account, and a Direct Market Access (DMA) Account. Forex.com is currently not regulated by the bank of Namibia

Updated : July 6, 2022

Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Trading Platforms

Range of Markets

Fees

Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons

FAQ

Overall Rating

Min Deposit

USD 100 / 1,500 NAD

Regulators

CySEC, FCA

Trading Desk

Crypto

Yes

Total Pairs

50

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

On Forex.com Website

FOREX.com Overview

Forex.com Review Overview Namibia

 

👉 FOREX.com, which was established in 2001, is a well-regulated broker with large minimum deposits and cheap fees that caters to serious novices and seasoned traders.

 

👉 GAIN Capital Holdings Inc is a publicly-traded company that offers online trading services under the FOREX.com trading brand. FOREX.com currently has offices in Canada, the United Kingdom, Hong Kong, and Australia, as well as throughout North America, Europe, and Asia Pacific.

 

👉 It presently has customers in over 180 countries and accepts both retail and institutional customers. StoneX Group Inc. acquired GAIN Capital in February 2020.

 

👉 GAIN Capital, on the other hand, continues to operate as a distinct corporation and owns City Index, a renowned online CFD and spread betting service, as well as Daniels Trading, a futures advisory trading firm.

 

👉 This FOREX.com review for Namibia will provide local retail traders with the details that they need to consider whether FOREX.com is suited to their unique trading objectives and needs.

 

👉 FOREX.com accepts Namibian clients and has an average spread from 0.2 pips with a $10 commission round turn. FOREX.com has a maximum leverage ratio up to 1:400 and there is a demo and Islamic account available.

 

👉 MT4, MT5, and FOREX.com platforms are supported. FOREX.com is headquartered in the United States and regulated by NFA, CFTC, FCA, ASIC, JFSA, IIROC, CIMA, SFC, and MAS.

 

FOREX.com Distribution of Traders

👉 FOREX.com currently has the largest market share in these countries:

➡️️ United States – 44.9%

➡️️ Russian Federation – 8.3%

➡️️ Japan – 6.9%

➡️️ Canada – 5.7%

➡️️ United Kingdom – 2.56%

 

Popularity among traders who choose FOREX.com

🥇 Although FOREX.com does not have a large market share in Namibia, it is nonetheless among the Top 20 brokers that welcome Namibian traders.

 

FOREX.com At a Glance

🏛️ HeadquarteredUnited States
⚖️ Local Market Regulator in NamibiaThe Bank of Namibia (BoN)
✔️ Foreign Direct Investment in Namibia906.71 NAD Million in 2021
💰 Foreign Exchange Reserves in Namibia16107.37 NAD Million in 2022
✔️ Local office in Windhoek?No
⚖️ Governor of SEC in NamibiaNone, Mr N. Mukasa is the Director of Financial Markets with the Bank of Namibia
✔️ Accepts Namibian Traders?Yes
📅 Year Founded2001
📞 Namibian Office Contact NumberNone
📱 Social Media PlatformsFacebook
Twitter
YouTube
⚖️ RegulationNFA, CFTC, FCA, ASIC, JFSA, IIROC, CIMA, SFC, MAS
1️⃣ Tier-1 LicensesNational Futures Association (NFA)
Commodities Futures Trading Commission (CFTC)
Financial Conduct Authority (FCA)
Australian Securities and Investments Commission (ASIC)
Investment Industry Regulatory Organisation of Canada (IIROC)
Securities Futures Commission (SFC)
Monetary Authority of Singapore (MAS)
Japanese Financial Services Authority (JFSA)
2️⃣ Tier-2 LicensesNone
3️⃣ Tier-3 LicensesCayman Islands Monetary Authority (CIMA)
🔎 License NumberUnited States (NFA) StoneX Financial Inc. – NFA ID 0476094
United Kingdom FOREX.com – 190864
United Kingdom GAIN Capital – 113942
United Kingdom StoneX Financial Ltd – 446717
Australia GAIN Capital Australia Pty Ltd – 345646
Canada (IIROC)
Hong Kong – BCQ152
Singapore
Japan – 2010401047199
Cayman Islands – 25033
⚖️ BoN RegulationNone
✴️ Regional RestrictionsSingapore, New Zealand, Belarus, Iran, Yemen, and several countries on the OFAC list
☪️ Islamic AccountYes
📈 Demo AccountYes
📈 Retail Investor Accounts3
📊 PAMM AccountsNo
💧Liquidity ProvidersAnonymous
💰 Affiliate ProgramYes
📊 Order ExecutionMarket
🚀 Starting spread0.3 pips, Variable
💳 Minimum Commission per Trade$5 per $100,000 traded
💰 Decimal PricingUp to 5 digits after the comma
🌐 Margin Call100%
🛑 Stop-Out50%
📉 Minimum Trade Size0.01 lots (100k on DMA Account)
📈 Maximum Trade SizeUnlimited positions depending on available funds
📊 Crypto trading offered?Yes
🚀 Offers a NAD Account?No
💻 Dedicated Namibian Account Manager?No
📈 Maximum LeverageUp to 1:400
📊 Leverage Restrictions for Namibia?No
💳 Minimum Deposit (NAD)1,500 NAD or an equivalent to $100
✔️ Namibian Dollar Deposits Allowed?No
💰 Active Namibian Trader Stats150,000+
👥 Active Namibian-based FOREX.com customersUnknown
📈 Namibia Daily Forex TurnoverUnknown, overall Forex Daily Trading Volume is over $6.6 Trillion
💳 Deposit and Withdrawal OptionsCredit Card
Debit Card
Bank Wire Transfer
Neteller
Skrill
💰 Segregated Accounts with Namibian Banks?No
💻 Trading PlatformsMetaTrader 4
MetaTrader 5
FOREX.com Platform
💰 Tradable AssetsForex
Indices
Stocks
Commodities
Precious Metals
Cryptocurrencies
Energies
🌐 Offers USD/NAD currency pair?No
🌐 USD/NAD Average SpreadN/A
📈 Offers Namibian Stocks and CFDsNone
👨‍💼 Languages supported on the WebsiteEnglish and Simplified Chinese
👥 Customer Support LanguagesMultilingual
⏰ Customer Service Hours24/5
🧑‍💻 Namibian-based customer support?No
💰 Bonuses and Promotions for NamibiansNone
✴️ Education for Namibian beginnersYes
💰 Most Successful Namibian TraderMichael Amushelelo (Net Worth Unknown)
✔️ Is FOREX.com a safe broker for Namibians?Yes
✔️ Rating for FOREX.com Namibia9/10
✔️ Trust score for FOREX.com Namibia99%
👉 Open an account👉 Open Account

FOREX.com Regulation and Safety of Funds

Forex.com Review Regualtion Namibia

 

FOREX.com Regulation in Namibia

👉 FOREX.com does not hold any regulations or licenses in Namibia but is regulated by several global entities.

 

FOREX.com Global Regulations

👉 Several market authorities, including GAIN Capital, regulate FOREX.com via its affiliates in the following regions:

➡️ StoneX Financial Inc is a Commodity Trading Advisor and a Futures Commission Merchant registered with the NFA under NFA ID 0476094 and the CFTC as a Commodity Trading Advisor and a Futures Commission Merchant in the United States.

➡️ GAIN Capital trading as FOREX.com UK Limited is licensed by the Financial Conduct Authority (FCA) in the United Kingdom under license number 190864. GAIN Capital UK Limited is also licensed by the Financial Conduct Authority (FCA) under the number 113942, while StoneX Financial Ltd is regulated under the number 446717.

➡️ FOREX.com trades in Australia as StoneX Financial PTY Ltd (ACN 141 774 727, ABN 50 141 774 727, AFSL 345646).

➡️ The Investment Industry Regulatory Organization of Canada supervises and regulates StoneX Financial (Canada) Inc. in Canada (IIROC)

➡️ The Securities Futures Commission (SFC) in Hong Kong regulates StoneX Financial (HK) Limited for trading in futures contracts under BCQ 152.

➡️ GAIN Global Markets Inc. (GGMI) is a Securities Investment Business licensed in the Cayman Islands under license 25033.

➡️ StoneX Financial Co., Ltd is a Financial Instruments Business Operator in Japan, with the registration number 2010401047199.

➡️ StoneX Financial Pte. Ltd. is regulated by the Monetary Authority of Singapore (MAS) in Singapore. The firm has a Capital Markets Services License, which allows it to trade Exchange-Traded Derivatives Contracts, Over-The-Counter Derivatives Contracts, and Spot Foreign Exchange Contracts for Leveraged Foreign Exchange Trading. This license also grants the firm the ability to offer financial advice on Exchange-Traded Derivatives Contracts.

 

FOREX.com Client Fund Security and Safety Features

👉 FOREX.com always prioritizes the security of its clients’ money. Client funds are kept in separate top-tier bank accounts from their own, ensuring security.

 

👉 Trust letters are available to ensure that client funds are kept separate. FOREX.com does not engage in proprietary trading and solely uses its own money for hedging.

 

👉 Consumers may be entitled to up to £50,000 in compensation under the Financial Services Compensation Scheme if a company goes insolvent or ceases operations. Furthermore, the Risk Committee specifies strict bank examinations and monitoring standards to be enforced.

 

👉 Except for Singapore, New Zealand, Belarus, Iran, Yemen, and numerous nations on the OFAC list, FOREX.com accepts traders from all around the globe. They are one of the few trading businesses in the industry that serves US traders today.

 

FOREX.com Awards and Recognition

👉 FOREX.com has won several awards since its inception in 2001, proving the reliability and superiority of its trading services and solutions. FOREX.com’s parent company, GAIN Capital, has also received many awards for both achievement and overall growth.

 

👉 The award outcomes are selected by a) votes or survey answers from website or organization participants, or a thorough internal examination and vetting by the awarding body and/or a select panel of judges.

 

👉 Some of the most recent awards won by FOREX.com include:

➡️ Best HNW Service in 2021, issued during the Dubai Forex Expo.

➡️ Best Broker in North America in 2021, awarded during the INVESTINGOAL Best Broker Awards.

➡️ Best Forex Platform of 2021, issued during the ADVFN International Financial Awards.

➡️ Best Education in 2021, issued to FOREX.com during the Online Personal Wealth Awards.

➡️ Best Brokerage (Forex), issued during the Benzinga Global Fintech Awards in 2020.

FOREX.com Account Types and Features

Forex.com Review Account Types Namibia

 

👉 FOREX.com offers three retail investor accounts to Namibian traders, each of which is tailored to a certain kind of trader based on their trading style and degree of expertise. There are three main live trading accounts available:

➡️ Standard Account

➡️ Commission Account

➡️ Direct Market Access (DMA) Account

 

FOREX.com Live Trading Account Details

Standard Account

👉 This is a basic and conventional account with ordinary spread pricing and a traditional trading experience that most Namibian traders would like. The following are the characteristics of this account:

Account FeatureValue
💳 Initial Minimum Deposit 1,500 NAD equivalent to $100
📊 Average Spreads on Major Forex PairsFrom 0.2 pips EUR/USD
💸 Typical Spreads1.3 pips EUR/USD
💰 Forex Commissions per round turnNone
💵 Commissions on Indices per round turnNone
🔨 Trading Tools offered?Yes, integrated trading tools
🚀 Market CommentaryYes
📊 Market AnalysisYes
⚙️ Advanced Charting Tools offered?Yes, and more than 80 technical indicators
📈 Fast Trade Execution?

Yes, Execution Scorecard
💵 Price Improvement?Yes, with limit orders
💸 Cash Rebates?Yes, 15%
🚦 Forex Trading SignalsYes
📲 Market Strategist AccessYes
📊 Active Trader ProgramNo
📈 Top-Tier LiquidityNo
💵 Spread splitsNo

 

Commission Account

👉 This account boasts some of the industry’s tightest spreads and predetermined fees, allowing traders to define their profits and losses more accurately.

Account FeatureValue
💳 Initial Minimum Deposit 1,500 NAD equivalent to $100
📊 Average Spreads on Major Forex PairsFrom 0.2 pips EUR/USD
💸 Typical Spreads
💰 Forex Commissions per round turnNone
💵 Commissions on Indices per round turn$5 per 100,000 traded (standard lot)
🔨 Trading Tools offered?Yes, integrated trading tools
🚀 Market CommentaryYes
📊 Market AnalysisYes
⚙️ Advanced Charting Tools offered?Yes, and more than 80 technical indicators
📈 Fast Trade Execution?

Yes, Execution Scorecard
💵 Price Improvement?Yes, with limit orders
💸 Cash Rebates?Yes, 15%
🚦 Forex Trading SignalsYes
📲 Market Strategist AccessYes
📊 Active Trader ProgramYes, 15% with the chance to earn $10 per million Forex traded in monthly trading volume
📈 Top-Tier LiquidityNo
💵 Spread splitsNo

 

Direct Market Access (DMA) Account

👉 This account caters to more experienced Namibian traders, with tighter spreads, tiered commissions, and more tools and services.

Account FeatureValue
💳 Initial Minimum Deposit
1,500 NAD or an equivalent to $100, with a recommended balance of at least $25,000 (390,000 NAD)
📊 Average Spreads on Major Forex PairsFrom 0.3 pips EUR/USD
💸 Typical Spreads1.3 pips EUR/USD
💰 Commissions chargesDepends on trading volume
🔨 Trading Tools offered?Yes, integrated trading tools
🚀 Market CommentaryYes
📊 Market AnalysisYes
⚙️ Advanced Charting Tools offered?Yes, and more than 80 technical indicators
📈 Fast Trade Execution?

Yes, Execution Scorecard
💵 Price Improvement?Yes, with limit orders
💸 Cash Rebates?Yes
🚦 Forex Trading SignalsYes
📲 Market Strategist AccessYes
📊 Active Trader ProgramYes
📈 Top-Tier LiquidityYes
💵 Spread splitsYes

 

FOREX.com Base Account Currencies

👉 When compared to other brokers, FOREX.com has an extremely limited choice between the default currencies for live accounts. When traders register an account with FOREX.com, they can only choose between USD, GBP, or EUR.

 

👉 This means that Namibian traders who deposit or withdraw in Namibian dollars could face currency conversion fees when their NAD-denominated funds must be converted to either of the three accepted currencies, which could affect their profitability overall.

 

FOREX.com Demo Account

Forex.com Review Demo Account Namibia

 

👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital. 

 

👉 When trading financial markets, there is a level of risk involved, and FOREX.com provides its customers with a risk-free platform where they may test methods, practice trading, and learn about the broker’s services in a secure trading environment with genuine market circumstances.

 

👉 Demo versions of the Standard, MT5, and Commission Accounts are all accessible. However, Namibians must keep in mind that demo accounts have a 90-day time limit before they become invalid, at which point you will be obliged to switch to a genuine account.

 

FOREX.com Islamic Account

Forex.com Review Islamic Account Namibia

 

👉 A forex trader’s trading positions may be open for more than 24 hours on a trading day, depending on their trading style and technique.

 

👉 This might result in an overnight or rollover cost for the trader. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.

 

👉 It is possible to convert any of the existing trading accounts that FOREX.com offers into an Islamic account. Depending on the kind of account they choose, Namibian Muslim traders can look forward to a range of advantages, not the least of which is the fact that switching to an Islamic Account is cost-free.

Overall Rating

Min Deposit

USD 100 / 1,500 NAD

Regulators

CySEC, FCA

Trading Desk

Crypto

Yes

Total Pairs

50

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

On Forex.com Website

How to open an Account with FOREX.com in Namibia

Forex.com Review Account Registration Namibia

 

👉 To register an account with FOREX.com, Namibian traders can follow these steps:

➡️ Traders may create an account by clicking on a button that says “Open an Account” on the homepage of the website.

➡️ Traders will be sent to a website where they are required to choose the trading account that best suits their needs (Standard, MT5, Commission, or DMA Account).

➡️ Traders will be asked to provide all their personal information once they have picked their account type.

➡️ In the next stage, you will need to provide facts about your physical address, as well as your country of residence, your tax information, and your identification number.

➡️ Traders will subsequently be required to provide specific information on their trading experience, which must include both their current financial situation and their trading history. Traders must also choose the base currency of their choice (between EUR, USD, or GBP).

Traders are needed to indicate that they understand and agree to all of FOREX.com’s Terms and Conditions and privacy policy before submitting this information.

As part of the Know Your Customer (KYC) process, newly registered users are required to confirm their proof of residence by providing a valid utility bill dated within the last 6 months, along with proof of identity including a valid government-issued ID document, passport, or another form of officially issued photo ID.

FOREX.com Vs eToro Vs AMarkets – Broker Comparison

Forex.comeToroAMarkets
⚖️ RegulationNFA, CFTC, FCA, ASIC, FSA, IIROC, CIMA, SFC, MASCySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, SIPCSVG FSA
📱 Trading Platform• MetaTrader 4
• MetaTrader 5
• FOREX.com Platform
eToro proprietary platform• MetaTrader 4
• MetaTrader 5
•AMarkets Trading App
💰 Withdrawal FeeNoYesYes
📈 Demo AccountYesYesYes
📊 Min Deposit1,500 NAD3034 NAD1517 NAD
💰 LeverageUp to 1:4001:30 (Retail)
1:400 (Professional)
1:1000
💳 SpreadFrom 0.3 EUR/USDFrom 1 pipFrom 0.0 pips
✴️ Commissions$5 per $100k tradedNone$2.5 per lot
💳 Margin Call/Stop-Out100%/50%None indicated50%
20% to 40%
📊 Order ExecutionMarketMarket/InstantMarket/Instant
💰 No-Deposit BonusNoNoNo
💰 Cent AccountsNoNoNo
📊 Account Types• Standard Account
• Commission Account
• DMA Account
Retail Account
Professional Account
Fixed Account
Standard Account
ECN Account
RAMM Account
⚖️ BoN RegulationNoNoNo
💵 NAD DepositsNoNoYes
💳 NAD AccountNoNoNo
👥 Customer Service Hours24/524/624/5
🛍 Retail Investor Accounts314
☪️ Islamic AccountYesYesYes

FOREX.com Trading Platforms

Forex.com Review Trading Platforms Namibia

 

👉 FOREX.com offers Namibian traders a choice between these trading platforms:

➡️ FOREX.com Platform

➡️ MetaTrader 4

➡️ MetaTrader 5

 

Desktop Platforms

➡️ FOREX.com Platform

➡️ MetaTrader 4

➡️ MetaTrader 5

 

FOREX.com Platform

👉 Active currency traders can use FOREX.com’s most sophisticated capabilities via the desktop trading interface. The advanced FOREX.com desktop trading software shines in optimum speed, adaptability, and performance.

 

👉 It is loaded with features for active traders, such as customisable layouts, trade preferences, one-click trading, professional analytics tools, integrated strategy-building tools, sophisticated charting capabilities, and the ability to develop your own custom indicators.

 

MetaTrader 4

👉 FOREX.com is the world’s largest MT4 broker, offering traders specialized customer care as well as distinctive trading tools.

 

👉 MT4 is widely regarded as one of the most popular and user-friendly online trading platforms, making it a great alternative for newcomers. It also has enough advanced features to appeal to seasoned traders.

 

MetaTrader 5

👉 The MT5 platform has all the core features and services that made MT4 so successful, but with more possibilities. More periods, order types, indicators, tools, quick market searches, and groups are among the new and enhanced charting capabilities in MetaTrader 5.

 

WebTrader Platforms

➡️ FOREX.com Platform

➡️ MetaTrader 4

➡️ MetaTrader 5

 

FOREX.com Platform

👉 FOREX.com’s advanced web-based platform is simple, quick, and trustworthy, with full trading capabilities, informative charts, a smart trade ticket with extensive risk management choices, preset and changeable layouts, and integrated trading tools.

 

👉 In addition, another benefit of the proprietary FOREX.com platform is that it works in all browsers on both PC and Mac and requires no plugins or downloads.

 

MetaTrader 4

👉 If you are a trader in Namibia, FOREX.com and Metatrader 4’s WebTrader are your best bets for narrow spreads, great executions, and unique trader tools including Reuters news, AutoChartist Trade Ideas, Trading Central technical analysis, and account management features.

 

MetaTrader 5

👉 Fully functioning trading platforms are accessible for all browsers and operating systems via FOREX.com and MetaTrader 5, allowing you to trade a broad choice of financial products. There are no downloads or plug-ins required, and the WebTrader offers the following features:

➡️ One-click trading

➡️ Updated orders through charts

➡️ A user-friendly and intuitive system

➡️ Access to Expert Advisors, and several technical tools and graphical objects

 

Trading App

➡️ FOREX.com Platform

➡️ MetaTrader 4

➡️ MetaTrader 5

 

FOREX.com Platform

👉 With FOREX.com’s mobile trading app, which is available on both iOS and Android, you will never miss a market change again.

 

👉 You can use your iPhone or Android smartphone to access all TradingView’s full trading capabilities, risk management choices, detailed charting and real-time analysis, integrated fund management, and more, providing you with a comprehensive trading experience at your fingertips.

 

MetaTrader 4 and 5

👉 Namibians may trade over 500 equities, cryptos, currency pairings, and other markets using MetaTrader 4 and MetaTrader 5 mobile. Namibians can also utilize several technical indicators and view interactive charts with ease.

 

👉 Users may also establish smartphone notifications and manage their trading accounts conveniently while on the go.

 

FOREX.com Range of Markets

👉 Namibian traders can expect the following range of markets from FOREX.com:

➡️ Forex

➡️ Indices

➡️ Stocks

➡️ Commodities

➡️ Precious Metals

➡️ Cryptocurrencies

➡️ Energies

Broker Comparison for Range of Markets

FOREX.comeToroAMarkets
💰ForexYesYesYes
🔨 Precious MetalsYesYesYes
💰 ETFsNoYesYes
📊 CFDsYesYesYes
📈 IndicesYesYesYes
💵 StocksYesYesYes
💳 CryptocurrencyYesYesYes
💰 OptionsNoNoNo
💸 BondsYesYesNo
🔋 EnergiesYesNoNo

Overall Rating

Min Deposit

USD 100 / 1,500 NAD

Regulators

CySEC, FCA

Trading Desk

Crypto

Yes

Total Pairs

50

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

On Forex.com Website

FOREX.com Trading and Non-Trading Fees

Forex.com Review Trading Fees Namibia

 

Spreads

👉 FOREX.com charges variable spreads that can change according to the account that is used, the financial instrument that is being traded, and the overall market conditions on the trading day. Some typical spreads that Namibians can expect are as follows:

➡️ Standard Account – Average spreads from 0.2 pips EUR/USD and typical spreads from 1.3 pips EUR/USD

➡️ Commission Account – from 0.2 pips EUR/USD

➡️ DMA Account – Average spreads from 0.3 pips EUR/USD and typical spreads from 1.3 pips EUR/USD

 

Commissions

👉 On the Fee Account, FOREX.com charges a standard commission of $5 for 100,000 exchanged, which translates to a $10 commission charge round turn.

 

👉 Regular commissions are charged on the DMA Account, with the possibility of volume-based discounts. Traders will pay $50 the next month if $350 million is traded in a single month. The trader will pay $50 per million traded in the third month if they make $550 million in deals in the second month.

 

👉 Based on the three-month rolling average of trading volume, if the trader executes $600 million in transactions in the third month, their commission rates will be reduced to $40 in the fourth month.

 

Overnight Fees, Rollovers, or Swaps

👉 The rollover rate, or overnight fee, is typically the interest paid or received on overnight deposits. The difference between the interest rates of the two currencies is used to calculate the rollover interest fee.

 

👉 The difference between the two currencies’ interest rates and the current price determines rollover rates. Market conditions, especially at the end of a quarter or year, could subsequently have an impact on rollover rates.

 

👉 FOREX.com evaluates rollover fees regularly and adjusts them to match current market and industry conditions. The following are some examples of typical overnight fees charged by FOREX.com to Namibians:

➡️ EUR/USD – a long swap of -0.54 and a short swap of 0.03

➡️ CAD/CHF – a long swap of 0.09 and a short swap of -0.63

➡️ CHF/JPY – a long swap of -0.39 and a short swap of -0.05

➡️ EUR/GB – a long swap of -0.64 and a short swap of 0.15

➡️ EUR/ZAR – a long swap of -3.67 and a short swap of 1.98

➡️ USD/ZAR – a long swap of -2.64 and a short swap of 1.01

➡️ XAG/USD – a long swap of -0.03 and a short swap of 0.01

➡️ XAU/USD – a long swap of -0.03 and a short swap of -0.11

 

Deposit and Withdrawal Fees

👉 FOREX.com does not apply any fees on deposits or withdrawals despite the payment method that traders use.

 

Inactivity Fees

👉 When a live trading account goes dormant after 12 months, there will be a $15 fee applied to the inactive account.

 

Currency Conversion Fees

👉 When traders deposit or withdraw in currencies other than USD, EUR, or GBP, they can expect a 0.5% currency conversion fee.

FOREX.com Deposits and Withdrawals

Forex.com Review Deposits And Withdrawals Namibia

 

👉 FOREX.com offers the following deposit and withdrawal methods:

➡️ Credit Card

➡️ Debit Card

➡️ Bank Wire Transfer

➡️ Neteller

➡️ Skrill

 

How to Deposit Funds with FOREX.com

👉 To deposit funds to an account with FOREX.com, Namibian traders can follow these steps:

➡️ Namibians must ensure that their trading account has been verified and approved by FOREX.com.

➡️ Traders can log into the “MyAccount” section on the official FOREX.com website and hover over the “Funding” option.

➡️ Traders can choose their preferred deposit method and provide a minimum deposit amount, choose a deposit currency, and follow additional steps to confirm and finalize the deposit.

 

👉 While the minimum requirement is 1,500 NAD ($100), FOREX.com urges traders to ensure that they maintain their excess margin balance above the required margin. If traders do not ensure this, it can prevent them from executing trades on certain instruments or it could result in the liquidation of positions.

 

👉 FOREX.com does not charge any deposit fees but banks may charge a processing or service fee on transactions. In addition, currency conversion fees are charged when deposits are made in currencies other than GBP, USD, or EUR.

 

FOREX.com Fund Withdrawal Process

👉 To withdraw funds from an account with FOREX.com, Namibian traders can follow these steps:

➡️ Log into the “MyAccount” section and go to the Withdrawal section on your trader’s dashboard.

➡️ Select the payment method that you used with your initial deposit and process the withdrawal request by submitting it to FOREX.com.

FOREX.com Education and Research

Forex.com Review Education and Research Namibia

 

Education

👉 FOREX.com offers the following Educational Materials:

➡️ Trading Concepts

➡️ Risk Management Guides

➡️ Technical Analysis

➡️ Fundamental Analysis

➡️ Trading Strategies

➡️ Trading Topics

➡️ Glossary

➡️ Trading Courses (Beginner, intermediate, advanced)

➡️ What is Forex?

➡️ Chart Basics

➡️ Developing a Trading Plan

 

👉 FOREX.com also offers Namibian traders the following additional Research and Trading Tools:

➡️ The Latest Research

➡️ Market Insights

➡️ Trade Ideas

➡️ Pivot Points

➡️ Economic Calendar

➡️ Week Ahead Reports

➡️ Webinars

➡️ Popular Topics Section

FOREX.com Bonuses and Promotions

👉 FOREX.com does not currently offer any bonuses or promotions to Namibian traders.

How to open an Affiliate Account with FOREX.com

Forex.com Review Affiliate Program Namibia

 

👉 To register an Affiliate Account, Namibians can follow these steps:

➡️ Namibians may join FOREX.com’s affiliate program by visiting the official website, going to “About Us,” and select “Affiliate Program” under the “Our Parent Company” option.

➡️ Prospective affiliates will be sent to the GAIN Capital affiliates website, where they may choose whether to work with GAIN Capital, City Index, or FOREX.com.

➡️ Regardless of the choice Namibians choose, they will be routed to a standard registration form with three sections namely Personal, Payment, and Additional information.

➡️ Prospective affiliates may fill out the registration form and submit it; after it has been evaluated, a GAIN Capital representative will contact them.

 

FOREX.com Affiliate Program Features

👉 GAIN Capital manages FOREX.com’s affiliate program and Namibians can easily earn up to $650 via the CPA, and benefit from the following:

➡️ Excellent commission rates

➡️ Working with a regulated global brand

➡️ Gain access to excellent conversion routes

 

👉 Namibian affiliates will have access to a dedicated affiliate support team, some of the best creative material, and innovative affiliate software, among other things.

 

FOREX.com Customer Support

👉 Customer service is accessible through phone, email, and live chat 24 hours a day, seven days a week (from 10 am on Sundays to 5 pm on Fridays), much like other brokers.

 

👉 While English is FOREX.com’s primary support language, Arabic, Ukrainian, Polish, Russian, and Chinese are also offered, depending on availability.

 

👉 In addition, you can also communicate with the FOREX.com crew through social media sites like Facebook and Twitter.

 

FOREX.com Corporate Social Responsibility

👉 There is currently no information available on FOREX.com’s corporate social responsibility or those of its affiliates.

Verdict on FOREX.com

👉 FOREX.com has a trust score of 99 out of 100, making it one of the most trusted forex and CFD brokers on the market. FOREX.com is a respected brand that offers forex and CFD traders all around the globe an amazing trading experience.

 

👉 In addition to MetaTrader, it covers a wide range of markets and provides an astounding assortment of customizable trading platforms.

 

👉 FOREX.com’s parent company, StoneX, is publicly traded (NASDAQ: SNEX), and the broker has regulations and authorization in eight Tier-1 countries, making it a safe (low-risk) forex and CFD broker.

 

👉 In addition, as part of the publicly traded StoneX Group, Forex.com can provide great education and market information as well as competitive trading conditions.

 

👉 Some FOREX.com accounts provide commission-free trading, which might be a tempting idea. Beginners may acquire a free sample account and access to a wealth of instructional resources.

 

👉 You can also use a variety of trading tools to better your market research and uncover trade signals. Market insights are fantastic for generating trade ideas, and customer service is second to none.

FOREX.com Current Popularity Trends

👉 According to Google Trends, FOREX.com has seen an increase in Google Searches in the past month. 

FOREX.com Current Popularity Trends

Overall Rating

Min Deposit

USD 100 / 1,500 NAD

Regulators

CySEC, FCA

Trading Desk

Crypto

Yes

Total Pairs

50

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

On Forex.com Website

FOREX.com Pros and Cons

✔️ Pros❌ Cons
FOREX.com is well-regulated by Tier-1 and Tier-3 market regulators and has a high trust score of 99%Currency conversion fees of 0.5% apply
FOREX.com welcomes Namibian traders and offers a choice between three dynamic account typesThere are inactivity fees charged
Namibian traders have access to over 4,500 financial instruments that can be tradedThere is no NAD-denominated account offered to Namibian traders
FOREX.com offers some of the best trading software and technologyThere are limited funding and withdrawal options
FOREX.com is one of few brokers who have a proven execution scorecard
Experienced Namibian traders have access to several useful trading tools such as Trading Central, AutoChartist, TradingView, Recognia, and many more
FOREX.com offers a demo and Islamic account
There are commission-free options offered

Frequently Asked Questions

 

What is the withdrawal time with FOREX.com?

The withdrawal time with FOREX.com ranges from instant withdrawals up to two working days, depending on which withdrawal method you use.

 

Is FOREX.com regulated?

Yes, FOREX.com is regulated by eight Tier-1 regulators (NFA, CFTC, FCA, ASIC, JFSA, IIROC, SFC, and MAS), and one Tier-3 regulator namely CIMA.

 

How do I withdraw my money from FOREX.com?

You can withdraw your funds by logging into your MyAccount area, choosing the “withdraw funds” option, and selecting the same method that you used during fund deposit.

 

How long does FOREX.com take to approve your account?

The average processing period is 1-2 business days.

 

Does FOREX.com have Nasdaq?

Yes, FOREX.com offers Nasdaq as “US Tech 100”, which can be traded as CFDs on Indices.

 

Is FOREX.com safe or a scam?

FOREX.com is not a scam broker but a highly popular, reputable broker that has a prominent presence globally. In addition, FOREX.com has a trust score of 99%, high ratings on Trustpilot, and is one of the only brokers with an Execution Scorecard.

 

Is FOREX.com regulated in the USA?

Yes, FOREX.com is regulated in the United States by CFTC and the NFA.

 

Does FOREX.com have Volatility 75?

No, FOREX.com does not offer Volatility 75 as part of its comprehensive product portfolio.

 

Is FOREX.com a good platform?

Yes, FOREX.com is considered a well-rounded broker that caters extensively to both beginner and professional traders.

Conclusion

👉 Now it is your turn to participate:

➡️ Do you have any prior experience with FOREX.com?

➡️ What was the determining factor in your decision to engage with FOREX.com?

➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?

➡️ Have you experienced any issues with FOREX.com such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?

 

👉 Regardless, please share your thoughts in the comments below.

 

Addendum/Disclosure:

👉 No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.

9.3/10 - (19 votes)