Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

FxGrow Review

1
1 reviews
PAYMENT SYSTEMS
  • Deposit
  • Withdrawal

FxGrow general information

Founded in: 2008 year
Headquarters:
Cyprus
Minimum Deposit: 100 $
Website: www.fxgrow.com
Website languages:
English, Arab, Spanish, Deutsch, Polish
Execution model:
ECN, STP
Deposit currency: USD, EUR, PLN
Support languages: English, Polish
Regulated by: CySEC (Cyprus)
Mobile trading: iOS, Android
Types of offered accounts:
Unlimited Demo Accounts, ECN accounts, Segregated accounts
Autotrading: Zulutrade
Affiliate program: 1

FxGrow Forex broker description

Pros

  • Regulated and licensed by CySEC, providing traders with high security and trust.

  • Offers commission-free trading on various assets, including forex currency pairs, commodities, indices, and shares.

  • Offers tight spreads starting from 0.0 pips on forex currency pairs.

  • Provides a choice of trading platforms, including MetaTrader 4 and the proprietary FXGrow WebTrader.

  • Offers various payment methods, including credit/debit cards, e-wallets, and bank wire transfers.

Cons

  • Limited range of trading instruments compared to some other brokers.

  • Does not accept clients from the United States, Japan, and some other countries due to regulatory restrictions.

  • The minimum deposit required to open a live trading account is $100, which may be considered high for some traders.

  • Charges overnight swap fees on positions held open overnight, which may be an additional cost for traders.

  • The maximum leverage offered is 1:200, which may not be suitable for high-risk traders who prefer higher leverage.



Unique Selling Points

  • Regulated and Licensed: FXGrow is regulated and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 214/13, which provides a level of security and trust for traders.

  • Competitive Spreads: FXGrow offers competitive spreads on forex currency pairs starting from 0.0 pips, which can help traders save on trading costs.

  • Commission-Free Trading: FXGrow offers commission-free trading, which can be a major advantage for traders who want to avoid paying extra fees.

  • Wide Range of Trading Instruments: FXGrow offers a wide range of trading instruments, including forex currency pairs, commodities, indices, and shares, which can provide traders with diverse trading opportunities.

  • Advanced Trading Tools: FXGrow provides traders with advanced trading tools, including the MetaTrader 4 platform, which features a range of technical indicators, charting tools, and automated trading capabilities.


Introduction

FXGrow is an international online broker founded in 2008, offering forex currency pairs, commodities, indices, and shares for trading. The broker is regulated and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 214/13, ensuring high security and transparency for its clients.

FXGrow is known for its innovative trading technology, providing clients with access to advanced trading platforms, such as MetaTrader 4 and the proprietary FXGrow WebTrader. The broker also offers a range of account types to suit different trading styles and preferences, including standard and Islamic accounts with low minimum deposits.

Whether you're a beginner or an experienced trader, FXGrow offers a range of educational resources to help you improve your trading skills and knowledge. They also provide access to 24/7 customer support in various languages, making them an ideal choice for traders who require support in their native languages.


Supported Countries

The broker supports a range of languages to cater to its diverse clientele. The supported languages include English, Arabic, French, German, Deutsch, Polish, and Spanish. Clients can choose their preferred language during registration; customer support is also available in these languages.

FXGrow accepts clients from most countries, except for a few jurisdictions where it is not authorized to operate. The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC) and is authorized to provide its services to clients in the European Economic Area (EEA) and Switzerland. FXGrow is registered with the Financial Conduct Authority (FCA) in the UK and can offer its services to clients in the UK and certain other countries.

Other countries where FXGrow offers services include Australia, Canada, China, Japan, Mexico, New Zealand, South Africa, and the United Arab Emirates. The broker's website is available in different languages, and clients can choose their preferred language by clicking on the flag icon at the top right corner of the website.


Customer Service Rating

FXGrow has a solid reputation for providing excellent customer service to its clients. FXGrow has a rating of 3.8 out of 5 stars based on 61 FX Grow reviews on Trustpilot. Some customers have praised the broker's helpful and responsive support team, while others have complained about slow response times and unhelpful agents.

On Traders Union, a platform for independent traders' reviews and ratings, FXGrow has a score of 8.8 out of 10 based on 13 reviews. The reviews are mostly positive, with customers praising the broker's fast execution, low spreads, and excellent customer service.

On 55brokers, another review website, FXGrow has a rating of 3.5 out of 5 stars based on eight reviews. Some customers have reported withdrawal requests and slow customer support issues, while others have praised the broker's trading conditions and platform.


FXGrow Trading Platforms

FXGrow offers a variety of trading platforms to its clients, including industry-standard options like MetaTrader 4 and MetaTrader 5, as well as their proprietary WebTrader.

  • MetaTrader 4 (MT4): MetaTrader 4 is one of the most popular trading platforms in the forex industry. It offers advanced charting capabilities, multiple order types, and the ability to use automated trading strategies through Expert Advisors (EAs). MT4 is available for desktop and mobile devices, allowing traders to access their accounts and trade on the go.

  • MetaTrader 5 (MT5): MetaTrader 5 offers a wider range of order types, more advanced charting tools, and the ability to trade on multiple markets, including stocks and futures. Like MT4, MT5 is available for desktop and mobile devices.

  • WebTrader: FXGrow offers a WebTrader platform that can be accessed through a web browser without downloading or installing software. WebTrader offers many of the same features as the desktop versions of MetaTrader 4 and MetaTrader 5, including advanced charting and multiple order types.

  • Mobile App: FXGrow offers mobile trading apps for iOS and Android devices. The mobile app allows traders to manage their accounts, monitor their trades, and execute orders. It provides many of the same features as the desktop and web-based platforms, including advanced charting and multiple order types.


Type of Trading Accounts on FXGrow

FXGrow offers a range of trading account types to suit different trading styles and preferences, including unlimited demo accounts, ECN accounts, and segregated accounts. Let's take a closer look at each account type.

  • Unlimited Demo Accounts: FXGrow offers unlimited demo accounts, which allow traders to practice their trading strategies and test out the broker's trading platforms without risking real money. These fully functional demo accounts offer real-time market data, providing a realistic trading environment.

  • ECN Accounts: FXGrow's ECN accounts offer direct market access, providing traders with deep liquidity and competitive pricing. These accounts are ideal for traders who require fast execution and low spreads. FXGrow's ECN accounts are available on MetaTrader 4 and MetaTrader 5 platforms.

  • Segregated Accounts: FXGrow offers segregated accounts for its clients, meaning client funds are kept separate from the broker's operating funds. This provides an extra layer of security for clients' funds, reducing the risk of loss in the event of the broker's insolvency.


Trading Denominations on FXGrow

The base currencies for trading on FXGrow include USD, EUR, and GBP, with additional currencies available upon request. 

This means that traders can choose the currency denomination that suits them best, which can help to minimize currency conversion fees and simplify their trading process.


Company Structure

FXGrow is a trading name of Growell Capital Ltd, a company incorporated in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC). FXGrow operates as a Straight-Through-Processor (STP) broker, offering direct market access without any intervention from a dealing desk.

FXGrow strongly focuses on providing its clients with a transparent and fair trading environment. The company operates on a No Dealing Desk (NDD) model, ensuring all client orders are executed without interference or manipulation. 

Additionally, FXGrow offers negative balance protection, and client funds are kept in segregated accounts to ensure maximum safety and security. FXGrow also offers a range of trading tools and resources to help clients make informed trading decisions, including economic calendars, trading signals, and market news. 


FXGrow Licenses and Regulatory Compliance

FXGrow is a fully regulated broker that is committed to compliance with regulatory requirements. The company holds licenses from the following regulatory bodies:

  • Cyprus Securities and Exchange Commission (CySEC): FXGrow is authorized and regulated by CySEC with license number 214/13.

  • Financial Conduct Authority (FCA): FXGrow is also authorized and regulated by the FCA with registration number 728639.

  • Markets in Financial Instruments Directive (MiFID II): FXGrow operates under MiFID II regulations.

  • Financial Instruments Directive (MiFID): FXGrow also operates under MiFID regulations.

FXGrow Customers Protection

FXGrow is committed to ensuring the highest level of customer protection. The company adheres to strict security measures to protect clients' funds and personal information. Here are some ways in which FXGrow provides customer protection:

  • Segregated accounts: FXGrow keeps clients' funds in segregated accounts with top-tier banks, ensuring that clients' funds are kept separate from the company's operating funds.

  • Negative balance protection: FXGrow offers negative balance protection, which means that clients cannot lose more than their account balance, providing an additional layer of protection.

  • Risk management: FXGrow provides clients with risk management tools, such as stop-loss orders to help limit potential losses.

  • Regulations: FXGrow is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC), providing clients with an added layer of protection.

  • Investor compensation fund: FXGrow is a member of the Investor Compensation Fund (ICF), which provides clients with additional protection of up to €20,000 in case of the company's insolvency.


Trading Information

FXGrow provides trading information that traders can use to make informed decisions. Some of the essential trading information available on the platform includes currency pairs, precious metals, indices, energies, and cryptocurrencies. 

Traders can access up-to-date trading information, including bid and ask prices, contract sizes, leverage ratios, and trading hours, on the FXGrow trading platforms.


Tradable Instrument

  • 50+ currency pairs, including major, minor, and exotic, are available for trading

  • Various commodities, including Gold, Silver, Oil, and more

  • Major global indices, such as the S&P 500, NASDAQ, and Dow Jones

  • 150 major+ international shares are available for trading, including shares from companies like Amazon, Apple, Facebook, and Google

  • Cryptocurrencies like Bitcoin, Ethereum, and Litecoin


Deposit and Withdrawal

Deposit

FXGrow offers several deposit options for their clients, including bank transfers, credit/debit cards, and e-wallets such as Skrill and Neteller. The minimum deposit amount is $100, and FXGrow charges no deposit fees.

Here is a table showing the deposit options available on FXGrow and their respective processing times:

Deposit Option    

Processing Time

Bank Transfer    

2-5 business days

Credit/Debit Card    

Instant

Skrill    

Instant

Neteller    

Instant


Withdrawal

FXGrow also offers several withdrawal options for their clients, including bank transfers, credit/debit cards, and e-wallets such as Skrill and Neteller. 

The minimum withdrawal amount is $100, and FXGrow charges no withdrawal fees. Here is a table showing the withdrawal options available on FXGrow and their respective processing times:

Withdrawal Option    

Processing Time

Bank Transfer    

2-5 business days

Credit/Debit Card    

3-5 business days

Skrill    

1-2 business days

Neteller    

1-2 business days

Please note that the processing times may vary depending on the payment provider and the client's bank or financial institution. It is also important to note that FXGrow does not accept third-party payments, and all withdrawals must be made to the same account used for the deposit.


FXGrow Trading Education and Training

FXGrow offers a range of educational resources and training programs for traders of all levels. The broker is committed to providing its clients with the tools and knowledge they need to succeed in the markets. Here are some of the educational resources and training programs offered by FXGrow:

  • Trading Academy: FXGrow's Trading Academy is an online education portal that offers a variety of educational resources, including articles, videos, webinars, eBooks, and more. The Trading Academy covers various topics, including market analysis, trading strategies, and risk management.

  • Trading Signals: FXGrow offers free trading signals to its clients. Professional traders generate these signals which can be used to help traders make more informed trading decisions.

  • Market Analysis: FXGrow provides daily market analysis, including technical and fundamental analysis, to help traders stay up-to-date on market developments and make informed trading decisions.

  • Trading Seminars: FXGrow hosts regular trading seminars and workshops for its clients. These seminars cover various topics, including market analysis, trading strategies, risk management, and more.

  • Personal Coaching: FXGrow also offers personal coaching services to its clients. Professional traders conduct these coaching sessions tailored to each client's needs and trading goals.


FAQs:

Is FXGrow a legitimate forex broker?

Based on FXGrow Reviews across several websites, FXGrow is a legitimate forex broker that is regulated by multiple financial authorities around the world.

How can I open a trading account with FXGrow?

To open a trading account with FXGrow, visit their website and select "Open Account" from the menu at the top of the page.


Conclusion

FXGrow is a well-regulated forex broker that offers traders a wide range of trading instruments and platforms. The broker is licensed and regulated by several financial authorities, ensuring the safety of traders' funds. The customer service team at FXGrow is professional and responsive, and the broker provides comprehensive trading education and training resources to help traders improve their skills.

Moreover, FXGrow's trading accounts are flexible, catering to the needs of both novice and experienced traders. The broker offers various account types, including demo, ECN, and segregated accounts, and traders can deposit and withdraw funds using multiple payment methods. 

With its excellent trading conditions and competitive trading costs, FXGrow is a reliable choice for traders looking for a reputable forex broker. FXGrow has built a solid reputation in the industry and is a top choice for traders seeking a reliable and trustworthy forex broker.

Trading accounts of FxGrow

  • ECN
  • ECN PLUS
  • ECN VIP
Trading platforms: MetaTrader 4, Meta Trader 4 Mobile
Minimum Deposit : 100 $
Deposit currency :
USD - US Dollar
EUR - Euro
PLN - Polish Zloty
Trading instruments:
Forex1:200
Number of currency pairs: 56
  • AUD/CAD
  • AUD/CHF
  • AUD/JPY
  • AUD/NOK
  • AUD/NZD
  • AUD/SEK
  • AUD/USD
  • CAD/CHF
  • CAD/JPY
  • CHF/JPY
  • CHF/NOK
  • CHF/PLN
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/GBP
  • EUR/HUF
  • EUR/JPY
  • EUR/MXN
  • EUR/NOK
  • EUR/NZD
  • EUR/PLN
  • EUR/TRY
  • EUR/USD
  • EUR/ZAR
  • GBP/CAD
  • GBP/CHF
  • GBP/DKK
  • GBP/JPY
  • GBP/NOK
  • GBP/NZD
  • GBP/PLN
  • GBP/SEK
  • GBP/TRY
  • GBP/USD
  • GBP/ZAR
  • HKD/JPY
  • NOK/JPY
  • NOK/SEK
  • NZD/CAD
  • NZD/CHF
  • NZD/USD
  • SGD/JPY
  • USD/CAD
  • USD/CHF
  • USD/CNH
  • USD/HKD
  • USD/JPY
  • USD/MXN
  • USD/PLN
  • USD/RUB
  • USD/SEK
  • USD/SGD
  • USD/TRY
  • USD/ZAR
  • ZAR/JPY
CFD's1:200
Amount of assets : 150
  • Futures
  • Indices
  • Products
Metals1:200
  • Gold
  • Silver
Energy sources1:200
  • Oil
  • Gas
Stop Out:
30 %
Minimum position size:
0.01 лотов
Execution type:
Market Execution
Swap Free:
No
VIP Account:
No
Spread type:
Floating
Decimal places:
5 characters
Margin Call:
50 %
Phone trading:
No
Trading platforms: MetaTrader 4, Meta Trader 4 Mobile
Minimum Deposit : 1000 $
Deposit currency :
USD - US Dollar
EUR - Euro
PLN - Polish Zloty
Trading instruments:
Forex1:200
Number of currency pairs: 56
  • AUD/CAD
  • AUD/CHF
  • AUD/JPY
  • AUD/NOK
  • AUD/NZD
  • AUD/SEK
  • AUD/USD
  • CAD/CHF
  • CAD/JPY
  • CHF/JPY
  • CHF/NOK
  • CHF/PLN
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/GBP
  • EUR/HUF
  • EUR/JPY
  • EUR/MXN
  • EUR/NOK
  • EUR/NZD
  • EUR/PLN
  • EUR/TRY
  • EUR/USD
  • EUR/ZAR
  • GBP/CAD
  • GBP/CHF
  • GBP/DKK
  • GBP/JPY
  • GBP/NOK
  • GBP/NZD
  • GBP/PLN
  • GBP/SEK
  • GBP/TRY
  • GBP/USD
  • GBP/ZAR
  • HKD/JPY
  • NOK/JPY
  • NOK/SEK
  • NZD/CAD
  • NZD/CHF
  • NZD/USD
  • SGD/JPY
  • USD/CAD
  • USD/CHF
  • USD/CNH
  • USD/HKD
  • USD/JPY
  • USD/MXN
  • USD/PLN
  • USD/RUB
  • USD/SEK
  • USD/SGD
  • USD/TRY
  • USD/ZAR
  • ZAR/JPY
CFD's1:200
Amount of assets : 150
  • Futures
  • Indices
  • Products
Metals1:200
  • Gold
  • Silver
Energy sources1:200
  • Oil
  • Gas
Stop Out:
30 %
Minimum position size:
0.01 лотов
Execution type:
Market Execution
Swap Free:
No
VIP Account:
No
Spread type:
Floating
Decimal places:
5 characters
Margin Call:
50 %
Commission:
$12
Phone trading:
Yes
Trading platforms: MetaTrader 4, Meta Trader 4 Mobile
Minimum Deposit : 10000 $
Deposit currency : USD - US Dollar
EUR - Euro
Trading instruments:
Forex1:300
Number of currency pairs: 56
  • AUD/CAD
  • AUD/CHF
  • AUD/JPY
  • AUD/NOK
  • AUD/NZD
  • AUD/SEK
  • AUD/USD
  • CAD/CHF
  • CAD/JPY
  • CHF/JPY
  • CHF/NOK
  • CHF/PLN
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/GBP
  • EUR/HUF
  • EUR/JPY
  • EUR/MXN
  • EUR/NOK
  • EUR/NZD
  • EUR/PLN
  • EUR/TRY
  • EUR/USD
  • EUR/ZAR
  • GBP/CAD
  • GBP/CHF
  • GBP/DKK
  • GBP/JPY
  • GBP/NOK
  • GBP/NZD
  • GBP/PLN
  • GBP/SEK
  • GBP/TRY
  • GBP/USD
  • GBP/ZAR
  • HKD/JPY
  • NOK/JPY
  • NOK/SEK
  • NZD/CAD
  • NZD/CHF
  • NZD/USD
  • SGD/JPY
  • USD/CAD
  • USD/CHF
  • USD/CNH
  • USD/HKD
  • USD/JPY
  • USD/MXN
  • USD/PLN
  • USD/RUB
  • USD/SEK
  • USD/SGD
  • USD/TRY
  • USD/ZAR
  • ZAR/JPY
CFD's1:300
Amount of assets : 150
  • Futures
  • Indices
  • Products
Metals1:300
  • Gold
  • Silver
Energy sources1:300
  • Oil
  • Gas
Stop Out:
30 %
Minimum position size:
0.1 лотов
Execution type:
Market Execution
Swap Free:
No
VIP Account:
No
Spread type:
Floating
Decimal places:
5 characters
Margin Call:
50 %
Commission:
$8
Phone trading:
No

Contacts of FxGrow

Headquarters
Cyprus , LimassoArc. Makariou, 59
show on the map
+357-25-211707Телефон штаб-квартиры

Recent customer reviews of FxGrow

Medlev 07 July 2020

Advantages: None

Disadvantages: Con broker

Comment: FXGrow is just another con broker milking money from emotionally weak traders. Their marketing scheme is to lure them into opening an account through bogus promotions. Their account managers are too aggressive and pushy, calling and emailing you multiple times in a week. I’ve experienced all these, so be careful.

Comment
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Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.