What is Currency.com?
Currency.com is a forex broker that offers online trading in a wide range of currency pairs, as well as other financial instruments such as commodities, indices, and cryptocurrencies. The company is headquartered in Belarus and is regulated by the country’s Financial Market Commission.
Currency.com is one of the few brokers that offer leveraged trading on cryptocurrency pairs. This means that traders can take larger positions than they would be able to with a traditional broker. Leverage is available up to 1:100 on most pairs, though some pairs may have lower or higher limits.
The company offers two types of accounts: standard and pro. The standard account requires a minimum deposit of $250 and has floating spreads from 1 pip on major currency pairs. The pro account has a minimum deposit of $10,000 and offers fixed spreads from 0.8 pips on major currency pairs. Both accounts offer leverage up to 1:100 and access to the same range of assets and features.
Currency.com also provides its own trading platform, which is available as a web-based platform or mobile app. The platform is designed to be user-friendly and includes features such as live quotes, charting tools, and news feeds.
Is Currency.com a Legit or Scam Forex Broker?
Currency.com is a legit forex broker that offers a variety of currency pairs, CFDs, and crypto assets for trading. The broker is regulated by the Belize International Financial Services Commission (IFSC) and the UK Financial Conduct Authority (FCA). Currency.com is a member of the Investor Compensation Fund (ICF), which protects up to €20,000 per client in case the broker becomes insolvent.
The broker provides negative balance protection and segregated client accounts. It uses SSL encryption to protect clients’ personal and financial information. Overall, Currency.com is a safe and reliable forex broker that we can recommend to our readers.
The Different Types of Accounts Offered by Currency.com
Currency.com offers three different types of accounts: Standard, Advanced, and Professional. Each account has its own set of features and benefits, so it’s important to choose the one that best suits your needs.
The Standard account is the most basic account type offered by Currency.com. It doesn’t have all the bells and whistles of the other account types, but it’s a great option for those who are just getting started with forex trading. The Standard account requires a minimum deposit of $250 and gives you access to all the major currency pairs, as well as some minor ones. You’ll also get a personal account manager to help you get started.
The Advanced account is perfect for those who want to take their forex trading to the next level. It requires a minimum deposit of $5,000 and gives you access to all the currency pairs offered by Currency.com. You’ll also get a dedicated account manager and access to exclusive market analysis and research tools.
The Professional account is Currency.com’s top-tier account type. It requires a minimum deposit of $25,000 and gives you access to all the currency pairs offered by Currency.com, as well as exclusive market insights, analysis tools, and a dedicated account manager.
The Pros and Cons of Currency.com
Currency.com is a forex broker that offers online trading in more than 50 currency pairs, as well as CFDs on stocks, indices, and commodities. The company is headquartered in Belarus and is regulated by the Belarusian government.
The main advantage of Currency.com is that it allows users to trade on leverage of up to 1:500. This means that users can control large positions with a small amount of capital. Leverage can be a great tool for experienced traders, but it can also lead to heavy losses if used recklessly.
Another advantage of Currency.com is that it charges very low commissions on trades. For example, the commission on a standard lot trade is only $0.01 per side. This is much lower than the typical commission charged by other forex brokers.
However, there are also some disadvantages to using Currency.com. One is that the company does not offer any sort of demo account, so new users have no way to practice trading before risking real money. Another downside is that the broker’s website is not available in English, which could make it difficult for some users to navigate.
Conclusion
All in all, Currency.com is a reliable and legit forex broker that offers a great trading experience to its clients. With its low spreads and fast executions, it is no wonder why this broker is gaining popularity among forex traders. However, as with any other broker, there are also some drawbacks that you should be aware of before you open an account with them. Overall, we would recommend this broker to anyone looking for a safe and secure place to trade forex.