Trading in international markets and assets is risky. It is crucial to find a reliable online broker that offers the best trading tools and financial instruments to meet your long-term financial goals.

Modern online trading platforms provide you with market analysis and charting information that will help you make informed investment decisions. In this broker comparison, Benzinga will review two popular foreign exchange (forex) trading platforms.

What Is FOREX.com?

Founded in 2001, FOREX.com is an award-winning online forex trading platform offering a range of more than 80 currency pairs, one of the most competitive investment offerings on forex markets today.

ForeX.com supports MetaTrader 4 as well as MetaTrader 5, and offers both web and mobile trading options. It is simple to navigate and use. The screens can be customized and traders can set up push notifications to alert them of changes in market conditions. Investors can access more than 90 market indicators, charts and news to aid in making the best trading decisions.

FOREX.com has spread-only and commission trading accounts. Leverage ratios for traders are 50:1. For traders who have funds over $10,000, the FOREX.com Active Trader Program provides discounts.

If trading is new to you, this program will help you get started. FOREX.COM offers a wide range of educational content to help traders, from beginners to advanced. Live, no-cost webinars are available for traders. They can be aimed at different skill levels. To learn from other traders and share your views, join the social media networks.

Best for: Volume traders in contracts for difference (CFDs) and forex

Mobile app: Yes

MetaTrader 4 (MT4) compatability: Yes

MetaTrader 5 (MT5) compatability: Yes

Year founded: 2001

Headquarters: New York City

Instruments: Forex and CFDs for stocks, indices, commodities and cryptocurrencies

Total currency pairs: 80+

Minimum initial deposit: $100

Regulators: FOREX.com is part of the publicly traded company StoneX Group Inc. (NASDAQ: SNEX). It is regulated by four tier-1 regulators

Active trader or VIP discount: Yes

Pros:

  • 2022 Best in Class winner in two divisions — Investment Offering and Mobile Trading.
  • FOREX.com is safe and secure. StoneX, the parent company, is publicly traded. FOREX.com has been registered with four tier-1 regulators.
  • Traders can leverage by up to 1:50.
  • Comprehensive range of currency pairs.
  • Easy-to-use advanced financial charts available through TradingView along with more than 90 technical indicators.
  • Excellent learning platform.

Con:

  • Offers only forex and metals trading, not stocks and bonds.

Read Benzinga’s Full FOREX.com Review

What Is FXCC?

FXCC is an online broker for CFD and forex traders. The platform allows investors to trade in over 70 foreign currency pairs, as well as eight of the most traded cryptocurrencies. FXCC offers spot precious metal trading and crude oil trading, as well as stocks from 12 major market indices.

FXCC does not require a deposit and has no commissions. Investors can maximize their profits by using tight spreads. Spreads can be transparently shared and are updated in real time. Investor deposits up to $2,000. qualify for a 100% bonus.

The MT4 platform offers a variety of technical indicators and charting tools that can be used to assist traders in planning their investment strategies. Automated trading is a great way to make sure you don’t miss out on potential opportunities.

The platform offers excellent, back-to-basic education for beginners as well as intermediate and advanced educational facilities. Demo accounts allow new traders to trade without the risk of losing their funds.

FXCC is based on an electronic communication network (ECN), which connects market participants and funders. ECN allows instant trading and direct communication with funders and traders. FXCC does not charge trading commissions and spreads are very tight.

Best for: New traders

Accepts U.S clients: No

Mobile app: Yes

MetaTrader 4 (MT4) compatability: Yes

MetaTrader 5 (MT5) compatability: No

Year founded: 2010

Headquarters: Port Vila, Vanuatu

Instruments: Forex, cryptocurrencies, commodities, CFDs, Indices

Total currency pairs: 70+

Minimum initial deposit: None

Regulators: Regulated by Cyprus Securities and Exchange Commission (CySEC) for EU investors. Others will deal with Central Clearing registered as an international company regulated by the Republic of Vanuatu

Active trader or VIP discount: No

Pros:

  • 100% first deposit bonus of up to $2,000
  • No minimum deposit
  • Generous leverage with a maximum 1:500 (subject to local regulations)
  • ECN/STP (straight-through processing) access to markets
  • Free virtual private network (VPN) access
  • No commission and tight spreads
  • Extensive range of investment products

Cons:

  • Not available to U.S. investors
  • Limited U.S. asset availability
  • No MetaTrader5

Read Benzinga’s Full FXCC Review

Comparative Charges

Take a look at how FOREX.com and FXCC compare in price:

PIP (percentage in point) Rate FOREX.com FXCC
PIP rate USD/EURO 0.1 0.1
PIP rate USD/GBP 0.12 0.1
PIP rate USD/JPY 0.07 0.07
  • Forex calendar
  • More than 90 market indicators
  • Mobile charting and market analysis
  • Multiple news channels and written content customizable to currency pairs

FXCC Research Offerings

  • Economic calendar
  • Forex news
  • Technical data analysis
  • Charts
  • Traders’ blogs

Choosing the Best Forex Broker

If you’re looking for a low-cost broker, you won’t do much better than FXCC’s no commission, low spread fee structure. There is no minimum deposit required and the company offers high leverage. This reduces market entry barriers. The extensive library of training materials as well as the demo model allow new traders to learn while they go. FXCC is not an option if your home country is the U.S.

.For currency traders who are serious, the FOREX.com App offers over 80 currency pairs. Traders have the option to use MT4, MT5, or the proprietary web-based, or desktop FOREX.com trading app. Volume discounts are available to active traders. Demo trading is available for new traders.

Frequently Asked Questions

Questions & Answers

A

FXCC is regulated by Cyprus Securities and Exchange Commission (CySEC)

A

FXCC is an ECN trader so users can make quick trades and communicate with market participants and fund providers.

Q

Which trading platform is better: FXCC or FOREX.com?

A

Which trading platform is best for you depends on your investment needs. FXCC trading is not available to residents of the United States. FOREX.com is one of the best forex trading platforms and FXCC has a broad range of assets you can choose from.



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