currency.com
Pros and Cons
Pros
- Regulated by Gibraltar Financial Services Commission and Financial Supervision Commission
- Diverse trading instruments including Forex, cryptocurrencies, stocks, and commodities
- Advanced trading platform with multiple technical indicators and charting tools
- Customer support available 24/5 with multilingual assistance
- Demo account available for practice trading without financial risk
Cons
- Not available for U.S. residents
- Strict verification process required before trading
- Withdrawal fees may be considered high
- Limited range of cryptocurrencies compared to larger exchanges
- No support for advanced trading features like copy or social trading
Basic Information
User Reviews
currency.com Overview
Currency.com is a prominent broker in the forex trading space, established under the name Currency Com Limited, and registered in Saint Vincent and the Grenadines. With an operating period of 5-10 years, this broker has built a reputation for providing a reliable trading platform. It is important to note that while Currency.com operates in a regulated environment, the specifics of its regulatory status are not detailed in the available information. Traders interested in learning more can find additional insights through reputable sources such as WikiFX, which highlights the broker’s operational details, including its registration.
Is currency.com Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Gibraltar Financial Services Commission | Gibraltar | Segregated Funds |
| Financial Supervision Commission | Poland | Segregated Funds |
| U.S. Department of the Treasury’s Financial Crimes Enforcement Network | United States | Segregated Funds |
Is currency.com Regulated and How Are Client Funds Protected?
Currency.com is a broker that operates under regulatory oversight from multiple authorities, including the Gibraltar Financial Services Commission and the Financial Supervision Commission in Poland. The broker maintains client funds in segregated accounts, which helps protect them from operational risks. However, it is important to note that these accounts are not insured. By adhering to regulatory standards, Currency.com strives to ensure a safe trading environment for its users, focusing on compliance with anti-money laundering and know your customer regulations. This regulatory framework enhances the legitimacy of the broker and reinforces its commitment to providing a secure trading experience for clients.
Trading Products and Services
What trading instruments does currency.com offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | [Major Pairs / Examples] | [Number] |
| Commodities | [e.g. Gold, Oil] | [Number] |
| Indices | [e.g. S&P 500, NASDAQ] | [Number] |
| Stocks | [e.g. US, UK] | [Number] |
| Cryptocurrencies | [e.g. BTC, ETH] | [Number] |
Currency.com offers a diverse range of trading instruments across multiple asset categories, enabling traders to explore various markets. The inclusion of Forex, commodities, indices, stocks, and cryptocurrencies ensures that both novice and experienced traders can find suitable options to meet their investment strategies. This variety not only enhances the trading experience but also supports effective portfolio diversification, allowing users to adapt their approaches to market conditions. Whether engaging in Forex trading or exploring commodities, traders can utilize the platform’s extensive offerings to develop flexible trading strategies that align with their financial goals.
Account Types and Trading Conditions
What Account Types and Fees Does currency.com Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Standard Account | General traders | Competitive commissions, no hidden fees | Suitable for various trading strategies |
Account Opening Process
To open an account with currency.com, users must follow a straightforward process that includes submitting personal, employment, and financial information. Identity verification is also required, which involves providing an ID and proof of address. Additionally, users have the flexibility to upgrade their accounts, such as moving to a professional account later on if needed.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | Varies | 0.0125% | Competitive spreads for major currencies |
| CFDs (Stocks, Indices) | Varies | 0.0125% | Fees based on the underlying asset |
| Cryptocurrencies | 0.05 | 0.2% | Variable depending on volatility |
Other Fees
Currency.com may charge several additional fees, including deposit and withdrawal fees, inactivity fees, and potential overnight interest (swap rates). Currency conversion fees may also apply depending on the transaction type.
Trading Platforms and Apps
What Trading Platforms and Apps Does currency.com Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| Web Version | Windows, macOS | Secure login, multiple order types, price alerts | Demo account |
| MT5 | Windows, macOS | Advanced charting, technical indicators, one-click trading | API interface |
| Mobile App | iOS, Android | Biometric login, real-time alerts, portfolio tracking | Demo account |
The web version of currency.com provides traders with a comprehensive platform equipped with essential features such as secure logins and various order types, making it suitable for diverse trading strategies. The MT5 platform is designed for more advanced traders, offering extensive charting tools and the ability to execute trades quickly. The mobile app ensures that traders can manage their portfolios and receive real-time alerts conveniently from their smartphones, supporting effective trading on the go. Overall, currency.com emphasizes secure logins, fast order execution, and efficient market search tools across all its platforms.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 business days | No platform fee | Min 50, Max 20k/day | USD, EUR |
| Credit/Debit Card | Instant | No platform fee | Min 50, Max 10k/day | USD, EUR |
| Cryptocurrency Transfer | Variable | Network fees apply | Min 50, Max 50k | BTC, ETH |
| e-Wallets (e.g., Skrill, Neteller) | Instant | 1.5% for e-wallet deposits | Min 50, Max 5k/day | USD, EUR |
Minimum Deposit
The minimum deposit requirement at currency.com is $50. This amount is consistent across most payment methods, ensuring accessibility for various traders. However, specific account types or promotional offers may influence this requirement.
How to Withdraw
To withdraw funds from currency.com, follow these steps: 1. Log into your currency.com account. 2. Navigate to the ‘Withdraw’ section of your account dashboard. 3. Select your preferred withdrawal method. 4. Enter the amount you wish to withdraw, ensuring it meets the minimum limit. 5. Confirm your withdrawal request and follow any necessary verification steps.
Customer Support
Currency.com Customer Support Overview
Support Channels
Currency.com offers several contact methods for customer support, ensuring users can easily get help when needed. The main support channels include:
- Email: Users can reach out via email at support@currency.com for assistance.
- Live Chat: A live chat option is available for immediate support, allowing users to connect with customer service agents quickly.
- Telephone: Customers can contact support via phone for direct assistance.
- Social Media: Support is also accessible through various social media platforms, where users can send messages for help.
Service Availability
Currency.com provides customer support services 24/5, ensuring assistance is available during business days. Multilingual support is offered, catering to a diverse user base, including languages such as English, Spanish, Portuguese, Vietnamese, and Russian.
Additional Resources
To enhance the trading experience, Currency.com offers educational resources such as video tutorials, webinars, and market analysis. These resources help users stay informed and improve their trading skills.
Frequently Asked Questions
Currency.com operates under the oversight of multiple regulatory authorities, including the Gibraltar Financial Services Commission and the Financial Supervision Commission in Poland. Client funds are maintained in segregated accounts, which helps protect them from operational risks, though it’s important to note that these accounts are not insured.
To open an account with Currency.com, you need to complete a straightforward registration process that involves submitting personal, employment, and financial information. Identity verification is required, which includes providing an ID and proof of address. Users also have the option to upgrade their accounts to a professional account later if necessary.
Currency.com offers several customer support channels, including email at support@currency.com, live chat for immediate assistance, and telephone support. They provide services 24/5 and offer multilingual support to cater to a diverse user base.
Yes, Currency.com may charge various fees for withdrawals, including potential withdrawal fees that some users might consider high. It is advisable to review the fee structure on the Currency.com platform for detailed information regarding withdrawal fees.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.