Regulation: CySEC, FCA, CNMV, MiFID
Broker type: STP
Markets: Forex and CFDs
Platforms: Metatrader 4, Webtrader
Minimum deposit: 100 USD
Deposit methods: card, Skrill, Neteller, etc.
Spreads: from 0.8 EURUSD
Commissions: at ECN Plus
What is FxGrow?
FxGrow is an international broker based in Cyprus and, therefore, regulated by the CySEC of that country, in addition to fulfilling all the requirements to offer trading and investment services in the European Union through MiFID.
In addition to MiFID and CySEC, FxGrow is registered with the English FCA , the Spanish CNMV with number 3755, the French ACPR, the German BaFin, the Greek HCMC, the Polish KNF or the Swedish FI.
All client accounts are segregated from those of the broker and under the protection of Cyprus and European Union regulatory standards.
This broker has offices in Cyprus, the United Kingdom, Poland, Japan and Australia.
FxGrow is an STP broker with direct market access, no trading desk, 1 nanosecond order execution, absolute transparency, access to ample market liquidity and no re-quotes.
FxGrow’s partners include Barclays, BNP Paribas, UBS, Commerzbank, JP Morgan, Visa, Neteller, Skrill and many more.
Invest in the world’s leading social trading platform
FxGrow offers market education and information services. Among them we have:
This broker offers a series of promotions to its clients.
Trade Back is a money back program depending on the number of operations carried out. The amounts are as follows:
1 to 99 lots: 2 USD
100 to 499 lots: 4 USD
More than 500 lots: 6 USD
Another offer is the possibility of depositing and withdrawing money without additional costs being charged, which is an advantage considering the costs incurred by other brokers for these concepts.
FxGrow account types
ECN ECN Plus
Spread From 0.8 Interbank
Leverage 200: 1 200: 1
Minimum deposit 100 USD 1,000 USD
FX Commissions No Yes
CFD Commissions Yes Yes
In July 2018, a new maximum leverage will be applied for traders residing in Europe by ESMA regulations. The same, which will apply to Forex products and CFDs we have in the following table:
products New leverage
Main Forex pairs 30: 1 or 3.33% margin
Main indices, gold and minor Forex pairs 20: 1 or 5% margin
Lower indices, commodities and exotic Forex pairs 10: 1 or 10% margin
Actions 5: 1 or 20% margin
Cryptocurrencies 2: 1 or 50% margin
Deposits can be made via Visa, Maestro, Visa Electron, Neteller, Skrill, Webmoney, OK Pay, Yandex Money, Qiwi, cashU or Bankwire.
Trading platforms are MetaTrader 4 and WebTrader.
FxGrow is a fairly solid broker with fairly strong regulation and with offices on several continents, including the UK, which is always a plus.
A detail to improve would be the opening of an office in a Spanish-speaking country and the offer of customer service in Spanish on the web.
For more information visit the website .