Gain Capital (Forex.com) Broker Review
Gain Capital (Otherwise known as Forex.com) is one more of the many Forex Trading corporations which help in making the forex deals of different currency pairs and do foreign exchange trading. Founded in 1999, the Gain Capital Group is a US regulated Subsidiary of the GAIN Capital Holdings Inc.
This company has a very strong global presence with clients in more than 140 countries who use the MT4 based solutions provided by the company. Other than this, the platform also offers a wide variety of services which include Fund management and Commodity Trading. The services offered include options like Stopping an order, Limit an order and even trail stop order to provide maximum benefit to the brokers.
The service boasts of various other features like a mobile phone based application as well to provide maximum flexibility. Gain Capital also has a good spreading rate of 1 to 2 pips based on the currency pairs which make the service look lucrative. Other than this, they provide fully automated Forex-based EA’s web hosting services which are completely automated for extra profits. Since the services are coupled with Tradestation, a huge number of users get to work with Gain Capital.
However, the Gain Capital service comes with its own set of problems. The biggest and the most important fact is that it uses the Forex Trader Pro trading platform, where forex.com offers both MT4 and their own trading platform.
The minimum deposit required to open a standard account with FOREX.com is US$2,500. FOREX.com’s minimum transaction size for a standard account is US$100,000 (or the equivalent), with a minimum margin deposit of $2,500 (at 100:1 leverage).
The minimum deposit required to open a mini account with FOREX.com is US$250. FOREX.com’s minimum transaction size for a mini account is US$10,000 (or the equivalent), with a minimum margin deposit of $250 (at 100:1 leverage).
Nevertheless, the worst aspect of Gain Capital is that their speed is very less probably owing to the huge number of users in different parts of the world. The servers keep hanging and a lot of users complain high number of slippages, which is very bad considering the fact that the minimum deposit is so high. There are visible complaints about facts that the stops do not work and also the spreads do not work on the pips as mentioned which make Gain Capital not a really good platform to work on.
However, there are a lot of users who have had both good and bad reviews about this service where the stakes are much high. If however, you think you want to give Gain Capital a shot, try using their Free Demo accounts and decide based on your own experience.June 28th, 2010 at 3:31 am -