FXoro Review

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Overview

Company Information Fxoro is one of the relatively new brands in the financial industry. The company was founded in 2012 by a group of young entrepreneurs. The company behind the… more

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Details

Broker FXoro
Website URL http://www.fxoro.com/
Free Demo Account No
US Traders Allowed No

Full Review

Company Information

Fxoro is one of the relatively new brands in the financial industry. The company was founded in 2012 by a group of young entrepreneurs. The company behind the brand name is MCA Intelli Funds Ltd. with the license number of 126/10. Fxoro is strictly regulated by the Cyprus Securities and Exchange Commission as a Cyprus Investment Firm aka CIF, which is the entity that the local government recognizes in a legal aspect. The manager of this large enterprise is Demetra Kalogirou.

 

Within a few years after its foundation, Fxoro quickly became a well-developed player in the financial markets and a respected broker for many online traders. Through adequate leadership and successful investment, the company is developing even further. As a great choice for many, the broker supports numerous instruments, platforms, and other great features. Fxoro is known as perfectly regulated forex broker and a preferred choice for many in the industry. As you probably know, many other brokers are intentionally decentralized, which makes them hard for regulation by the local authorities. It is not the case with Fxoro, which ensures additional peace of mind of its clients.

 

Trading Information

Fxoro offers its audience a great diversity of tools and instruments for trading. Customers are free to pick from Forex currencies (up to 60), CFDs, indices and commodities (gold, silver and oil). Traders can easily employ their strategies on with this trustworthy broker. Scalping is easily applicable to the short-term trading, and hedging is also possible for those who like the long term outcome. The maximum leverage, which the client can select is 400:1. However, the broker is not the best choice for inexperienced traders. The margin call level is set to 0%, which means that the broker won’t automatically close your position once the equity drops below the open margin. Make sure to monitor your margin level regularly to avoid any unpleasant situations. Apart of this, the spreads are tight and fixed, which is great for both professional and amateur traders. Orders are executed instantly on the market. Unfortunately, there is no option for a demo account. However, the minimum size for real money account is $100, and there is no minimum for opening position.

 

Trading Platforms

Fxoro supports MT4 (Meta Trader 4) as their main trading platform. The company also integrated the famous trading application for both mobile and web users. The ease of access and adequate development have made the usage of this platform exceptionally easy to use. Traders can place their positions from anywhere, at any time. The interfaces are modern and user-friendly. Mobile users will be delighted to learn that their favorite device is surely supported – Android, iOS, and Windows are supported. The MT4 platform is equipped with all the necessary tools and features to make the trade a child’s play. Every registered client can enjoy a huge variety of technical indicators.

 

Security and Customer Services

The broker has employed strong security measures for their servers and some of the best practices to effectively protect their servers. Fxoro has a good and reliable firewall that block unauthorized access and successfully defend the sensitive data of the users. As a well-developed broker in the financial niche, the company is also perfectly regulated by the authorities and the clients can rest assured that their investment is efficiently guarded. Fxoro also ensures that the best practices in client protection are employed. Customers can enjoy the negative balance. Instant margin and investor protections, bank account segregations, as well as exceptionally careful risk management.

 

The broker is also known for it’s great customer care. Fxoro’s representatives can be easily reached out by email, phone or live chat. You can easily check the contact details in the table, as well as the supported languages of the service. According to various sources, the company manages any issues carefully and tries to handle the problems as fast as possible. The customer supports adequate and fully capable.

 

Deposits and Withdraws

When it comes to deposits and withdraws, there is some specification that the user can select before the registration. In fact, there three main account types that the user can select – Fix, Floating and ECN. There are several differences, such as the minimum deposit, spread, leverage level, stop-out and commission. The required deposit is $200, $1000 and $5000 respectively. Information about withdraws is not specified, so probably there are no significant regulations or restrictions when it comes to this type of operation. The payment options available are not many, and you can easily review them in the table, as well as all currencies accepted for deposits and withdraws.

 

Deposit Bonus and Loyalty Programs

Fxoro doesn’t offer any deposit bonuses or loyalty programs for any new or existing clients. However, they benefit the traders with the “Friend Referrals” option, which is quite a generous one. Upon referring one of your friends and making them traders, the bookie rewards you with the bonus of $1000. Also, Fxoro offers some partnership programs and other ventures that may be attractive to those who seek a new kind of experience with the possibility to earn additional cash.

 

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