FxGrow Review Summary
FxGrow Review Highlights
Pros & Cons
- The spreads are comparatively low
- Trading platforms to choose from
- Offers the lowest possible spreads
- Mediocre rate of leverage
- Lacks the tools for education
- No trial account
This company started its story in 2014 with the goal to give a good space for trade between clients and brokers, without conflict. They give transparent terms for trades via STP execution and have low ECN spreads. Moreover, they have negative equity security to make sure money from customers is safe.
Their users have unrestricted entry to international marketplaces and great terms for trade with zero requotes and no rejection of orders. They apply innovation to their trading solutions – this benefits novices and pros alike.
This company allows all clients see the transparent costs and provides the same products to all. They have on offer over sixty fx currencies as micro lots, cash CFDs with no limits for stop and limit levels, futures CFDs with micro lots and zero rollover fees.
They assist client via zero-cost learning materials and features, pro services from Protfolio Managers and a personal account manager.
They are offering the best possible opportunity to traders around the globe, and they have a number of accolades to show that.
Is this company secure?
This company is actually the brand name of Growell Capital which is overseen by the CySEC. So this means FxGrow complies with MiFID directives of the EU and can conduct cross border services.
All customer money is kept in separate accounts and in the best banks.
Retail clients are backed by the Investor Compensation Fund for Customers of Cypriot Investment Firm for an amount up to 20k euros.
There is another branch in Vanuatu. This offshore zone is not secure on its own, but thanks to additional regulation, this broker is a safe choice.
Platforms for Trades
The company does STP execution, so the speed of trades goes to nanoseconds. They chose the MT4 as a platform for desktop, smartphone and browser usage. They have pro tech on offer thanks to WebTrader which has Java tech streams financial info and graph instruments.
WebTrader is actually one of the broker’s most innovative innovations, as the workstation that uses Java technology to stream financial data and advanced charting software does not require installation and is always available.
The platform offers free VPS hosting, and unrestricted access to Trading Central ‘s Research Portal and Trading Signals. However, traders of any type are invited and allowed to use Hedging, Scalping, EAs or their own trading strategy.
The firm partnered with Myfxbook AutoTrade and ZuluTrade. Both are great for copytrading established traders via the MT4 account of the user. There are no charges in order to join this. And you get a diversified portfolio!
This is a very honest company that allows access to equity info, profits and back office service. Three forms of accounts are on offer and they differ according to the volume of money. The first account offers only spread and the other two offer commission along with that.
There are no hidden costs and you will be trading with the lowest interbank spreads. This is usually kept for market makers, so it is great users of this company have access to this.
See typical spreads below. For gold, the standard is 10 cents, for oil it’s 1 pip.
Bear in mind the rollover and swap charge, which is incurred if a position is held over 24h. Moreover, the swap-free account is great for those who follow Sharia laws.
Leverage can potentially increase profits. But it has to be used in a smart way, since it also brings some risks. Thanks to the authorizations and MiFID directives, the max leverage is 1:30 for big currency pairs, 1:20 for minor pairs and 1:10 for commodities. Those signed at Vanuatu can have higher rates of 1:400.
Deposits & Withdrawals
Methods that are approved are: credit cards, transfers via bank wire, e-wallets (Neteller, Skrill…).
The min. deposit has no restrictions, so you can start out with even one dollar. Keep in mind the ECN account needs a hundred dollars for a beginning.
There are no fees for withdrawals with cards, but e-wallet transfers incur a charge that varies.
This company gives clients great trading terms – a vast scope of instruments and 3 forms of accounts fueled via STP and ECN tech.
They are trusted for a good reason and have very low spreads compared to the rest of the sector.
Official FxGrow Registration
If you are the owner of this platform you can manage this account. First you need to claim the ownership of the platform.