FOREX.com vs USGFX Comparison

FOREX.com vs USGFX Comparison

FOREX.com vs USGFX
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$50MT4, Advanced Platform, Web Trader300+FCA, ASIC, CFTC, IIROC, SFC, CIMA, FSA
$100MT4, MT560+ASIC

FOREX.com and USGFX Comparison

USGFX offers STP/ECN trading. It has less markets than FOREX.com (60+ vs 300+) overall. Both offer MT4, and on MT4, FOREX.com has less markets but more than USGFX (110+). USGFX additionally provides MT5.

FOREX.com's other platforms are the Advanced platform (which is downloaded) and a web trader. Although USGFX is an STP/ECN broker, it does not charge Forex commissions. It does charge commissions for its CFDs. FOREX.com does not charge Forex commissions either, but does charge commissions for Shares CFDs.

Both are regulated by the ASIC in Australia. FOREX.com is additionally regulated by the FCA in the United Kingdom, the CFTC in the United States, the IIROC in Canada, the sFC in Hong Kong, the CIMA in the Cayman Islands and the FSA in Japan.

Quick comparison

FOREX.com provides trading on MT4 and web traders and apps, USGFX is an STP broker offering trading on MT4 and MT5.

Minimum deposit and account types

The minimum deposit for FOREX.com is $/€/£50. The minimum deposit for USGFX is $100.

  • FOREX.com offers Forex and CFD trading. The minimum trade size is 0.01 lots. It has an Economic Calendar, Market Research and a news feed on its platforms and a Trader Education course on its website.
  • USGFX offers four account types. These are Mini, Standard, VIP and Pro-ECN. The minimum deposit for the Mini account is $100, the minimum deposit for the Standard account is $10,000, and the minimum deposit for both the VIP and Pro-ECN accounts are $50,000. The different account types can offer lower spreads, with the lowest being available on the VIP account. All account types have a minimum trade size of 0.01 lots.
  • USGFX provides Trading Central, the Recognia Trading System (which provides trading ideas), analysis, one on one coaching and an Education Center on its website with webinars, seminars, a trading guide and Blog, along with contests.

Markets

  • On The Advanced Platform, FOREX.com offers Forex, Indices, Energy, Cryptocurrencies, Soft Commodities, Metals and Stocks, with 300+ available.
  • On MT4, FOREX.com offers Forex, Indices, Energy, Soft Commodities and Metals, with 110+ available.
  • USGFX offers Forex, Indices, Energy, Cryptocurrencies and Precious Metals, with 60+ available.

Cryptocurrency CFDs

  • FOREX.com offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple.
  • USGFX offers Bitcoin.

Spreads and leverage

  • Spreads at FOREX.com are variable or fixed depending on the market, with variable spreads from 1.4 for EUR/USD, a fixed spread of 1 for UK100, a typical variable spread of 0.61 for Gold and 0.04 for US Crude Oil.
  • USGFX offers variable spreads. On the Mini account, EUR/USD is from 2.8, on the Standard account EUR/USD is from 2.2, on the Pro-ECN account EUR/USD is from 1.5 and on the VIP account EUR/USD is from 1.3.
  • USGFX offers Gold spreads from 0.50 on all accounts except VIP, where they are from 0.36. US Oil spreads are from 0.027, plus commission.

The maximum leverage for FOREX.com (FCA regulated) is . USGFX's maximum leverage is 500:1, except on the Pro-ECN account where it is 100:1.

Platforms

FOREX.com offers the Advanced Platform, a web trader, MT4, an MT4 web trader and apps. USGFX offers MT4 and MT5.

Comparison summary

  • Both provide Forex trading
  • Each has a range of other market, offered as CFDs
  • Each has variable Forex spreads, without a commission charge
  • USGFX offers tighter spreads, with accounts having a higher minimum deposit
  • FOREX.com can have tighter Forex spreads
  • FOREX.com has a lower minimum deposit
  • Each offers Cryptocurrency CFDs
  • Both have MT4
  • USGFX also offers MT4
  • FOREX.com additionally provides its Advanced Platform and a web trader
  • Each is ASIC regulated

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