FxGrow Review

MIN. DEPOSIT $100
Up to 200:1
Up to $500 BONUS
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FxGrow
Up to $500
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Overview

Company Information Fxgrow is one of the relatively new forex trading brokers created 12 years ago in Cyprus. It started its operation in 2008 and had offered its services under… more

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Details

BrokerFxGrow
Website URLhttp://fxgrow.com/
HeadquartersLimassol, Cyprus
Support Number+357-25-211707
Support Emailsupport@fxgrow.com
Support TypesPhone, Live Chat, E-mail
LanguagesEnglish, Arabic, Polish, Hungarian
Minimum 1st Deposit$100
Minimum Trade Amount0.01 lots
Maximum Trade Amount50 lots
BonusUp to $500
PayoutUp to 200:1
Free Demo AccountYes
Regulated Yes
RegulationCySEC
Account TypesECN, ECN Plus, Tadawul Swap Free
Deposit MethodsVisa, Visa Electron, Maestro, MasterCard, Neteller, Skrill, WebMoney, OkPay, Yandex Money, Qiwi, CashU, Internal Transfer, Bank Wire
Withdrawal MethodsVisa, Visa Electron, Maestro, MasterCard, Neteller, Skrill, WebMoney, OkPay, Yandex Money, Qiwi, CashU, Internal Transfer, Bank Wire
Types of AssetsForex, CFDs
Account CurrencyUSD, EUR
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

Fxgrow is one of the relatively new forex trading brokers created 12 years ago in Cyprus. It started its operation in 2008 and had offered its services under the brand name Growell Capital. Their online platform was launched in 2012. Headquarters of the company are located in Limassol, Cyprus. It has gained licenses in almost every major European country with the ones by the FCA in England and the one by BaFabin being the most reputable ones.  Since its creation the company has gained a lot of international popularity and is now a choice for many traders around the world. US traders are not allowed on the platform. Fxgrow stands out from other brokers by offering unique EXN technology to its brokers. As an independent broker they look to offer more than the competition and on this occasion, they’re doing a good job. But let’s see what Fxgrow can offer.

 

Trading Information

The broker has been in the industry long enough to know that it has to offer some unique traits compared to their competitors and Fxgrow doesn’t disappoint. Besides, to the usual Forex the site offers to trade with commodities, energies, indices and CFD’s. They have variable spreads for their ECN accounts starting as low as 0.8. For their PLUS account, there is an inter-market spread. Maximum leverage is 1:200. Their standard account has no additional commission fees which are quite nice. The trading options they offer are numerous with mobile and web trading available.  Hedging, trailing stops and one click trading is available.  OCO orders are also there, and this completes the list of features that a modern online broker should offer. The lack of contests is somewhat disappointing, but it’s not a feature that a trader couldn’t do without. They also have a nice Demo Account option available for beginner traders, and the expiration date is set to 360 days. As far as education is concerned Fgxrow offers some of the best educational tools in the industry. There are three types of calculators available for every trader: The Fibonacci calculator, Risk Reward Calculator, The Pip Size Calculator, Position Size Calculator and the Pivot Point Calculator. All of these are proven tools that help the trader with risk calculation and make better choices when trading. Also, all new traders have 30 days free access to oscillators, charts and Japanese Candlestick signals.

 

Trading Platforms

Here Fxgrow has chosen to bet on the trusty and stable Metatrader 4 platform. Throughout the years, it has proven to be the very sturdy and bug-free. The MT4 is offered for both types of accounts. The PLUS account, however, can give you access to 2 additional platforms. The first one is GrowPro. It’s designed to be fast and stable while being secure at the same time. It has a very user-friendly design and offers the opportunity of customizable modular architecture.  With easy access to any charts and statistics, it has been praised by many traders. This platform is unique for Fxgrow and can be used only by traders who have chosen them for an account. Finally, the Netstation is another great platform that is web based and full of features. You can use it while on your desktop or mobile device as long as you have an internet connection. What’s best about it is that you don’t have to download it and has support for many languages. Updates are frequent, and you have streaming news feature which is very helpful at times. All in all, as a right online trading broker Fxgrow offers you the best possible experience you and it’s hard to find any flaws to that.

 

Security and Customer Services

It’s a safe to say that Fxgrow has one of the best customer support units in the industry. Yes, it’s not 24/7, but you can contact them five days a week at any time you need. There are plenty of ways to contact them. You can use your phone, skype, email, web form or find them at their physical address. Their Live chat feature is also great, and you can contact an employee right away. Their response time is quick, and you will find answers to your questions concerning the platform or the trading in no time at all. Support is available in Arabic, English and Polish. The platform is very secure, and your personal data will be available only to company representatives. They have top notch protection against malicious hacker attempts, and overall you can feel very safe with them.

 

Deposits and Withdraws

Depositing funds into your Fxgrow account is made easy, and there are plenty of banking methods. Credit and debit cards are accepted; bank wire is available. You can also use e-wallets or an online check. Minimum deposit is $100 and this will give you access to their basic account. There are some deposit fees (mostly for Bank Transfer), but every deposit over $1000 is deposit fee free. For withdrawals, you can use the same method you deposited the money. Processing times are quick taking from 3-5 days (for most methods) for the money to appear in your account. Using Skrill as a banking method is encouraged by the broker because they’ve made them an official partner. If you deposit or withdraw money using this method, there are no fees.

 

Deposit Bonus and Loyalty Programs

Fxgrow currently offers two promotions. The first one is the “Fair Trading Rights”. It really can’t be described as a bonus, but it means that the broker will give you some benefits while trading. You can find all the information about this promotion explained thoroughly on their site. The next one is the “TradeBack” promotion which fits much better into the bonus section. This promotion gives you the chance to have unlimited cash rebates.  For people with high trading volumes (500 and over) the rebate rate is $6. You can find more info about this on their “Promotions” page.

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