Our FxGrow Review
FxGrow is the CySEC, and VFSC regulated online forex and CFD’s broker. The broker was established in 2008. The Cyprus based broker is registered in Vanuatu. They are providing service globally with across over 100 countries clients.
FxGrow is an ECN broker, offers lower spreads & lower commission with multilingual support. Here in this FxGrow Review, we breakdown all important things that will help you on trading. Let’s check below.
FxGrow Trust and Regulation
FxGrow operating to global markets for 13 years. The broker is owned and operated by the Growell Capital LTD.
FxGrow is regulated by the CySEC (Cyprus Securities and Exchange Commission) under this 214/13 license and 314852 company registration number. As the CySEC regulation, they are also part of the Cyprus Investment Firm.
FxGrow LTD is regulated and authorized by the VFSC (Vanuatu financial services commission). The company is registered with 40308 number and authorized by the CAP 70.
The FxGrow headquarter is located at Arc. Makariou C 59 Steratzias Court Block A, Office 14 4003 Limassol, Cyprus.
Other license & crossworders
France – BANQUE DE FRANCE EUROSYSTEME, 74965.
Poland – Polish Financial Supervision Authority, 2590060.
Greece – Hellenic Capital Market Commission, 2703.
Sweden – Finansinspektionen, 14-10518.
Spain – La Comisión Nacional del Mercado de Valores, 3755.
Hungary – Magyar Nemzeti Bank, K8800582.
Norway – The Financial Supervisory Authority, NCB 342.
England – Regulated by the Financial Conduct Authority, AV/FOS/MiFID/628755.
EU – FxGrow is governed by the Markets in Financial Instruments Directive (MiFID)
Germany – Bundesanstalt fur Finanzdienstleistungsaufsicht, WA37-K 5000-138982-2014/0001.
Account types and features
FxGrow provides 3 types of accounts for trading. These are ECN, ECN-plus and ECN-VIP account. These accounts are opened with different deposit.
The broker provides 3 types of account for providing different benefits, features, equity, and back office support.
ECN account
- The account opening deposit is $100 only.
- The spreads are variable start from 1.20000.
- The margin call and stop out level are same 50%.
- Negative balance protection.
- VPS Hosting available via MT4 trading platform 10/month.
- Offers commission-free trading.
ECN-Plus account
- The minimum deposit is $1,000 only.
- The spreads are variable start from 0.00010.
- The margin call and stop out level are same 50%.
- Negative balance protection.
- VPS Hosting available via MT4 trading platform 10/month.
- The trading commission is 8.
ECN-VIP account
- The minimum deposit is $10,000 only.
- The spreads are variable start from 0.00010.
- The margin call and stop out level are same 50%.
- Negative balance protection.
- VPS Hosting available via MT4 trading platform 10/month.
- The trading commission is 8.
And all account provides trading signal and platform research via Trading Central.
Trading platforms
FxGrow offers the user friendly and most used MT5 trading platforms. cTrader available for web trading, it has good features and function.
MT5 is the world’s top electronic trading platform that was established in 2005. The award-winning platform offers EA’s, heading, scalping, advance analytical tool and more. It can be downloaded on the MAC, Windows, IOS and Android devices.
cTrader is now the most trend innovations offered by the brokerage. The platforms using Java for streaming currency information and progressed graphing tools don’t need the download or install and are consistently “prepared”.
It offers free VPS hosting with unlimited trading signal and research platform access. Also offers to test or run any strategy, scalping, expert advisors, and hedging.
MT5 Features
Real time quotes of financial assets and market data.
30+ technical indicators and research tools.
Access 1 year trading history.
Intuitive interface and benefits.
Multilingual support and stop loss facilities.
For more, the FxGrow broker is an official strategic partner of the Zulutrade and Myfxbook auto trading system.
Research, Education and Trading Services
The broker is really helpful for traders. They provides trading central for education and research. They provide Fundamental insight, research, automatic analysis, economic calendrer, technical analysis, and more.
The technical research is included volume, price, chart, behaviour studies, particular trend, and mathematical representations.
Overall, they provide lots of data with detailed research. You will also get personal trading ideas, independent opinion, awarded investment adviser, educational support, and more.
They provide daily analysis of all major and exotic currency pairs.
Deposit and withdrawal methods and fees
FxGrow offers secure payment systems which Certified to Meet International Standards.
They accept credit cards, prepaid cards, e-wallets including Ok Pay, Qiwi, Neteller, WebMoney, Yandex Money, Skrill, dotpay and bank transfer.
The offers zero fees for withdrawal and deposit, but the payment providers may take charge as per providers policy. They don’t accept any third-party payments and the transactions are usually process at office time 9:00 am till 6:00 pm (GMT+2).
The minimum deposit is $1 only but the account opening initial deposit is $100. The minimum withdrawal is $10.
All of the supported payment methods are regulated and automatic processing systems.
If you have any query about their payment methods or for any clarification you can contact at [email protected].
Client support: helpful or not?
The FxGrow provides 24/5 support via all common methods. They have a several support team for different inquiries such as client support, Cyprus clients, accounting & finance, partnership and human resources.
As a user or client if you have any queries you can contact via:
Phone: +357 25 211707
Email: [email protected]
Website contact form, live chat and call back option.
The client support is available Mon. to Fri., and 24 hours a day, the time is GMT+3 during Day-Light saving time.
Pros
- Regulated and ECN account
- Access to Trading Central
- Commission free trading
- Charge free deposit and withdrawal
- Negative balance protection
- Regulated, secured variety of payment methods
- Raw Spreads Starting 0.00001
- Very fast deposit and withdrawal
- Hedging, Scalping & EAs Allowed
Cons
- Doesn’t offer promotions and contests
- Mediocre leverage levels
- Lacks education materials and tools
- Full registration necessary to access the demo account