Forex.com
Velocity Trade
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
Forex.com was founded in 2001 and is headquartered in United States, while Velocity Trade was established in 2007 and is based in Australia. Forex.com holds licences including Financial Conduct Authority (FCA), while Velocity Trade is regulated by Australian Securities & Investment Commission (ASIC) among others. Forex.com serves 150,000+ clients worldwide; Velocity Trade has 10,000+. The minimum deposit is Typical at Forex.com and $1 at Velocity Trade.
| Feature | Forex.com | Velocity Trade |
|---|---|---|
| Min. Deposit | Typical | $1 |
| Regulation | Financial Conduct Authority (FCA), Cayman Islands Monetary Authority (CIMA), Investment Industry Regulatory Organization of Canada (IIROC), National Futures Association (NFA) | Australian Securities & Investment Commission (ASIC), BaFIN (German Federal Financial Services Authority ID: 10159853), Financial Markets Authority (FMA) of New Zealand, Financial Sector Conduct Authority of South Africa (FSCA) FSP No. 43295, Financial Conduct Authority (FCA Registered Number 497263) |
| Founded | 2001 | 2007 |
| Country | United States | Australia |
| Clients | 150,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Forex.com and Velocity Trade, directly affecting your bottom line as a trader. Velocity Trade has a lower barrier to entry with a minimum deposit of $1 (vs Typical at Forex.com). Forex.com charges withdrawal fees while Velocity Trade does not, a notable advantage for frequent withdrawers. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. Forex.com charges deposit fees; Velocity Trade does not. Overall, Velocity Trade scores higher on fees in our assessment.
| Feature | Forex.com | Velocity Trade |
|---|---|---|
| Min. Deposit | Typical | $1 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
Forex.com offers MT4, MT5, cTrader, while Velocity Trade supports MT4. Both brokers provide mobile trading apps for iOS and Android. Forex.com supports social and copy trading features, which Velocity Trade does not offer. Forex.com edges ahead on platform breadth and functionality in our scoring.
| Feature | Forex.com | Velocity Trade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | No |
| cTrader | Yes | No |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile apps | MT4, Mobile Apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Forex.com and Velocity Trade compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. Velocity Trade scores higher overall in education and research.
| Feature | Forex.com | Velocity Trade |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Forex.com accepts 3 of the tracked payment methods (bank transfer, credit/debit card, PayPal), while Velocity Trade supports 2 (bank transfer, credit/debit card). Forex.com uniquely supports PayPal among the two brokers. Forex.com scores higher on deposit and withdrawal flexibility.
| Feature | Forex.com | Velocity Trade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Forex.com and Velocity Trade offer live chat support. Both provide phone support. Email support is available at both brokers. Forex.com supports 3 languages and Velocity Trade supports 2, giving Forex.com broader global reach. Both brokers are comparable on support quality.
| Feature | Forex.com | Velocity Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Chinese, Arabic | English, and Chinese |