ForeignCurrencies

ForeignCurrencies is a trading name for Cannon Trading Company, Inc., a firm that has been operating since 1988. The broker’s registered address is 12100 Wilshire Blvd Suite 1640, Los Angeles, CA 90025, and its official website is application.forex.com. According to corporate records, it was founded on April 26, 2019.

Despite its longevity in the industry, Cannon Trading Company positions ForeignCurrencies as a dedicated platform for sophisticated futures and forex traders. The broker claims to offer institutional-level dealing rates and services to retail clients across three markets: currency futures, spot forex (FOREX), and e-micro FX futures.

One of the most critical findings is that ForeignCurrencies currently holds no active regulatory licenses from any recognized financial authority. Our checks against regulatory databases confirm that no registration with the U.S. Commodity Futures Trading Commission (CFTC) or the National Futures Association (NFA) is on file, despite its U.S. base of operations.

This absence of regulation is a significant red flag for traders. An unregistered broker operating from the U.S. without oversight by the CFTC/NFA operates outside the standard investor protection framework, meaning clients have no recourse to a regulatory ombudsman or compensation scheme in the event of a dispute or broker failure.

ForeignCurrencies states it provides access to three distinct forex-related markets: currency futures, spot forex, and e-micro FX futures. Currency futures are standardized contracts traded on exchanges like the CME, while spot forex is the over-the-counter cash market. E-micro FX futures are smaller-sized versions of standard currency futures.

By offering both futures and spot forex, the broker aims to cater to traders who prefer exchange-traded products with centralized clearing as well as those who favor the flexibility of OTC trading. The broker emphasizes that it provides institutional-level dealing rates, suggesting tight spreads and competitive pricing for retail accounts.

Based on the limited information available, specific account types and platform details are not publicly documented from official sources. The broker’s website (application.forex.com) appears to redirect to or share infrastructure with the larger FOREX.com brand, which is owned by GAIN Capital. However, the two entities are distinct legally and regulatory-wise.

In the absence of verified information, traders should be cautious about the terms and conditions applied to accounts. Without a clear breakdown of spreads, commissions, leverage limits, or available trading platforms (e.g., MetaTrader 4/5 or proprietary software), it is difficult to assess the competitiveness or suitability of the trading environment.

The broker’s marketing language targets “sophisticated futures traders” and aims to provide “institutional level dealing rates” to retail clients. This suggests that ForeignCurrencies is positioning itself towards experienced traders who are already familiar with currency futures and spot forex markets.

However, given the lack of regulatory oversight and transparency, the broker is unsuitable for most retail traders, especially beginners or those seeking a regulated environment with strong investor protections. Only traders with a high risk tolerance and thorough due diligence might consider this broker, and even then, extreme caution is warranted.

FXCanary’s Scam Risk Score for ForeignCurrencies stands at 43 out of 100, which we classify as “Guarded.” This score reflects the significant uncertainty surrounding the broker’s regulatory status, limited publicly available information, and the potential for confusion with the well-known FOREX.com brand.

A score of 43 indicates that while there is no immediate evidence of fraud, the risks are above average. Traders should be aware that operating without a license in the U.S. exposes them to potential loss of funds without any safety net. We strongly recommend verifying all claims directly with the broker and considering alternative, fully regulated brokers.

No specific information regarding accepted deposit methods, withdrawal processing times, or fees is publicly available for ForeignCurrencies. The broker’s reliance on the application.forex.com domain may imply that it uses the same payment infrastructure as FOREX.com, but this is not confirmed and should not be assumed.

Because financial details are opaque, traders should inquire directly about funding options, including bank wire, credit/debit cards, or electronic wallets. Without transparency on these operational aspects, it is difficult to evaluate the convenience or reliability of moving money in and out of accounts.