Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare Coinbase vs Forex.com (GAIN Capital).
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. Forex.com (GAIN Capital) received a rating of 4.50 stars over Coinbase's 2.50 stars.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. Forex.com (GAIN Capital) is regulated in a major hub, Coinbase isn't. Forex.com (GAIN Capital) is a publicly traded company while Coinbase is not. How many currency pairs are available to trade? Coinbase trails Forex.com (GAIN Capital) by 84 total currency pairs (for example, EUR/USD), with Forex.com (GAIN Capital) offering 84 and Coinbase offering .
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Forex.com (GAIN Capital) has Meta Trader, Coinbase doesn't. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Coinbase trails Forex.com (GAIN Capital) by 22 total charting tools, with Forex.com (GAIN Capital) offering 22 and Coinbase offering . Forex.com (GAIN Capital) boasts an offering of 139 different indicators (for example, moving averages) compared to Coinbase's available indicators.
Overall, Forex.com (GAIN Capital) takes the upper hand with 4.50 stars over Coinbase's 3.50 stars. And, when it comes to individual category awards, Forex.com (GAIN Capital) was rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Investor Education in 2018, while Coinbase was rated none of these.