FOREX.com

Licences in the US, the UK, Cyprus, Australia, Singapore and Japan were confirmed on the regulators’ own registers. FOREX.com states that its Canadian company is a CIRO member and that international clients contract with GAIN Global Markets Inc., licensed by the Cayman Islands Monetary Authority, outside the main retail protection regimes.

• StrengthGAIN Capital Group LLC, which does business as FOREX.com, is listed by the NFA as an approved member, a CFTC-registered futures commission merchant and retail foreign exchange dealer, and a forex dealer member.
• StrengthStoneX Financial Ltd has been authorised by the FCA since 24 March 2006 (FRN 446717) and may hold client money. StoneX Europe Ltd holds CySEC licence 400/21, issued 24 May 2021, with forex.com among its approved trade names and domains.
• StrengthStoneX Financial Pty Ltd has held AFSL 345646 since 31 May 2010 and issues FOREX.com CFDs in Australia. StoneX Financial Pte. Ltd. is listed by the Monetary Authority of Singapore as a Capital Markets Services licensee, and StoneX Securities Co., Ltd. is registered with Japan’s Kanto Local Finance Bureau under No. 291.
• MediumFOREX.com’s international website is operated by GAIN Global Markets Inc., which FOREX.com states is licensed by the Cayman Islands Monetary Authority (licence 25033). This was not checked at the CIMA register, and the company’s LEI record has lapsed.
• ObservationThe FCA register shows that the former UK company, Gain Capital UK Limited (FRN 113942), applied to cancel its authorisation on 23 September 2026 and flags disciplinary or regulatory action involving it. The register did not display the details, so the nature of that action could not be established.

Every FOREX.com company is a wholly owned subsidiary of StoneX Group Inc., which is listed on Nasdaq and files audited annual reports with the SEC.

• StrengthStoneX Group Inc. (Nasdaq: SNEX) filed its annual report on Form 10-K for the year to 30 September 2025, with consolidated accounts audited by KPMG LLP, and describes FOREX.com as one of its primary channels for retail forex and CFD clients.
• ObservationKPMG gave an adverse opinion on StoneX’s internal control over financial reporting at 30 September 2025 because of a weakness in how repurchase agreements were netted on the balance sheet; StoneX said the error was corrected before filing and had no effect on earnings, financial position or liquidity, and reported its disclosure controls as effective at 30 June 2026.

UK clients may be covered by the FSCS, EU clients by CySEC’s Investor Compensation Fund and Canadian clients by the Canadian Investor Protection Fund. US forex clients have no compensation scheme and would rank as general creditors in an insolvency, and clients of the Cayman company have no compensation scheme or negative balance protection.

• StrengthThe FCA register states that StoneX Financial Ltd can hold client money and that its clients may be able to claim from the FSCS. FOREX.com states that all retail client money is segregated from its own funds and that StoneX Europe Ltd is a member of the Investor Compensation Fund.
• MediumGAIN Global Markets Inc.’s customer agreement states that client money is held on trust and segregated, but that there is no deposit protection for accounts with Cayman banks, and that it does not guarantee that losses will be limited to the funds deposited.
• LowFOREX.com’s US customer agreement states that retail forex funds receive no priority in a bankruptcy, that customers would be general creditors, and that customers must pay any deficit in their account. This reflects the US rules for off-exchange forex.

Not assessed in a desk audit. Spreads, slippage and fill quality can only be measured with live accounts.

The US company has two material enforcement actions in the last eight years: a USD 700,000 NFA fine in 2022 and a USD 300,000 CFTC penalty in 2020. It also paid a USD 50,000 NFA fine in 2019, and in 2023 its Australian company remediated clients after self-reporting breaches of leverage limits.

• HighIn December 2022 the NFA’s Business Conduct Committee fined Gain Capital Group LLC USD 700,000, finding that it improperly adjusted customer accounts after a system malfunction, mistreated the customers affected, submitted inaccurate and incomplete information to the NFA and failed to supervise. The firm settled without admitting or denying the allegations.
• MediumOn 29 September 2020 the CFTC ordered Gain Capital Group LLC to pay a USD 300,000 civil monetary penalty and to cease and desist from violating its supervision rule. The order found that from February 2014 to August 2016 it failed to supervise customer accounts introduced by Foremost Trading LLC, an introducing broker later sanctioned for defrauding a customer, including hundreds of suspicious requests to move trades between accounts.
• LowIn August 2019 the NFA fined Gain Capital Group LLC USD 50,000 on a complaint alleging that it failed to adjust in customers’ favour all orders affected by a recurring malfunction of its trading platform. The firm settled.
• LowIn November 2023 ASIC named StoneX Financial Pty Ltd, the issuer for FOREX.com in Australia, trading under its sister brand City Index, among seven CFD issuers that self-reported issuing CFDs above the leverage limits and ran remediation programmes. ASIC described these as possible breaches; no penalty was imposed.
• ObservationNFA fines of USD 459,000 in 2010, over alleged margin, liquidation and price slippage practices that disadvantaged customers, and of USD 100,000 in 2007 are more than eight years old, so they are recorded here but not scored.
• ObservationThe Reserve Bank of India’s Alert List names Forex.com among entities not authorised to deal in forex in India. Such lists name many licensed groups and are not scored. The FCA lists clones of StoneX Financial Ltd that are not connected with the group.
• ObservationGAIN Global Markets Inc. offers international clients a welcome bonus of up to USD 5,000. Offshore incentives that are lawful where offered are recorded but not scored.

Not assessed in a desk audit. Uptime, incident history and security controls require evidence from the firm or live monitoring.

No Great Place to Work certification was found. StoneX’s annual report describes a named “Collective Giving” programme, with a company match for employees’ charitable donations and volunteer hours, and a paid day off for community service.

• ObservationNo Great Place to Work certification was found for StoneX or FOREX.com.
• ObservationThe “Collective Giving” programme is reported by StoneX itself, without amounts; we found no independent reporting. StoneX’s rugby sponsorship is commercial and is not counted.