A week ago I signed up for a mini account with www.forex.com. This morning I was not able to acces my account on-line for about 2 hours. Support staff told me they were experiencing problems with their ISP that affected connectivity to a small number of clients (of which I was one). I wonder if this was an exception, or something I can expect to happen on a regular basis, and would like to know if others have had similar experiences with forex.com in the past.
It happened to me, when i was a customer. They say its some customers, but its most of them. They lessen the problem, but it is a very big problem.
Forex.com is crap, dude. I know because I used to trade with them. Trade with Oanda. You can trade any size with them. Finn
Finn, Would you mind to share your experiences in some more detail? The reason I opened an account with them is that they have an interface to TradeBolt, which Oanda doesn't. I also have an Oanda account, by the way, and am very happy with it.
To be honest, I only did a few 'live' trades with them, but 6 months with demo account. The problem with them is that for a regular account, the minimun size you can trade is 1 lot, which is about $1,000. If you start with 5K is your account, 1 trade is 20% of your NAV. You can setup a mini account, but you max you can have in that account is like $2,500 or something. I just don't see why you would use them if you could trade with Oanda. Oh, also, Forex.com interface SUCKS and it seems to be down a lot.
I'm just going by what they told me on the phone. I called to find out if I could trade a smaller size with a regular account (smaller than 1 lot), they said I had to have a good reason and had to fill out a special form to do that. So I was thinking I would just open a mini account with the same amount of money and trade smaller, but the guy on the phone told me the max size was like $2500 or $3000 or something. I'm just telling you what the guy on the phone told me.
I searched through my trading agreement and the information on their website but was not able to find any statement on max account sizes for a mini account. However, they state that "The leverage for mini accounts with an initial deposit exceeding $2,500 will be set to 100:1 (1%)". Could that be causing the confusion?
Possibly, however I swear the guy told me directly: "The maximum size for a mini account is x dollars." Maybe it was that guy's first day or something.