FxGrow Account Types vary according to what traders require. FxGrow offers 3 different account types, the ECN account, ECN-PLUS account, and the ECN-ELITE account. Each account offers a different deposit amount to start trading.
FxGrow at a glance
| Broker's Name | FxGrow |
| 📍 Headquartered | Limassol, Cyprus |
| 📅 Year Founded | 2008 |
| ⚖️ Regulating Authorities | CySEC |
| 🌐 Countries not accepted for trade | United States and Australia |
| ☪️ Islamic account (swap-free) | Yes |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | No |
| 📊 Managed Accounts | No |
| 📈 Maximum Leverage | 1:30 |
| 💰 Minimum Deposit | $100 |
| 💳 Deposit Options | Bank wire, Credit cards, Debit cards, Neteller, Skrill, CashU, OKPay, WebMoney |
| 💳 Withdrawal Options | Bank wire, Credit cards, Debit cards, Neteller, Skrill, CashU, OKPay, WebMoney |
| 💻 Platform Types | MetaTrader 5, Windows, Mobile, Web, iPhone, iPad |
| 📱 OS Compatibility | PC and Mac OS, mobile for Android and IOS |
| 📈 Tradable assets offered | Forex, stock, commodities, indices |
| 👨💼 Languages supported on Website | Multilingual |
| 👥 Customer Support Languages | Multilingual |
| 📆 Customer Service Hours | 24/5 |
| Open a naccount | 👉 Click Here |
Min Deposit USD 100 Regulators CySEC Trading Platform MT4, MT5 Crypto Yes Total Pairs 61+ Islamic Account Yes Trading Fees Low Account Activation 24 Hours
Choose your quick section of our FxGrow Account Types below.
FxGrow Account Types – 8 key points quick overview:
- ✔️FxGrow Account TypesOverview
- ✔️FxGrow Account Types
- ✔️FxGrow Account Features
- Demo Account
- Islamic Account
- FxGrow Pros and Cons
- Conclusion
- Frequently Asked Questions
Here is an overview of the FxGrow Account types as well as the treading features and benefits offered for each account.
FxGrow Account TypesOverview
FxGrow was founded in 2008, and since then the broker has grown exponentially and currently serves retail and institutional clients in more than 100 countries, from its offices in Cyprus. In 2012, FxGrow LTD, a brand name of Growell Capital Limited, became authorized by the Cyprus Securities and Exchange Commission (CYSEC) with CIF license number 214/13 and governed by MiFID.
The broker has established a strong relationship with its retail and institutional clients by granting access to top-tier prime brokerage and liquidity pools while partnering with the most leading technology providers (Metaquotes and PrimeXM). To this end, the broker has adopted their technologies to ensure an ultra-low latency network through FIX API along with MT5 gateway.
FxGrow abides by the regulations of CySEC, and the broker’s engineers continue to update its infrastructure to meet the rapidly growing technology environments, emphasizing its Client’s funds safety and security. FxGrow is a member of the Investors Compensation Fund (ICF). As such, depending on the retail client classification, the trader may be entitled to compensation from the ICF if the Company cannot meet its obligations.
All communication and transactions between FxGrow customers and payment gateways are processed through a secured channel to ensure the Client’s complete security and confidentiality.
Finally, the broker will promptly place any client’s money into independent segregated bank accounts with reliable financial institutions. The client’s funds will be segregated from the company’s own money and will not be used during its business.
FxGrow Account Types
FxGrow offers three account types:
➡️️ ECN: min deposit of $100, spreads between 1.2 and 1.6, no commission for FX currencies, commission $12/ 1 standard lot CFD (Each 100 lot (MT4) CFD equals 1 Standard lot CFD).
➡️️ ECN Plus: min deposit of 1000$, spreads between 0.1 and 0.4. Commission: FX: $12/Lot and $12/ 1 standard lot CFD.
➡️️ ECN Elite: min deposit of $100,000, Raw ECN spreads, only $8 commission per FX standard lot, and $12/1 standard lot CFD, Leverage up to 300, Free MT4 VPS Hosting.
FxGrow Account Features
Standard ECN Account
| 📈 Spreads | 1.10000 |
| 💰 Commissions | 0 |
| 📊 Leverage | 100:1 |
| 🔎 MT5 VPS HOSTING | 15$/month |
| 💰 Base Currency | USD, EUR, PLN |
| ✴️ Margin Call | 50% |
| ✴️ Stop-Out | 50% |
| 📅 Research Platforms and Trading Signals | Yes ✔️ |
ECN-Plus Account
| 📈 Spreads | 0.20000 |
| 💰 Commissions | 8 |
| 📊 Leverage | 100:1 |
| 🔎 MT5 VPS HOSTING | 15$/month |
| 💰 Base Currency | USD, EUR, PLN |
| ✴️ Margin Call | 50% |
| ✴️ Stop-Out | 50% |
| 📅 Research Platforms and Trading Signals | Yes ✔️ |
ECN-Elite Account
| 📈 Spreads | 0.20000 |
| 💰 Commissions | 6 |
| 📊 Leverage | 100:1 |
| 🔎 MT5 VPS HOSTING | 15$/month |
| 💰 Base Currency | USD, EUR, PLN |
| ✴️ Margin Call | 50% |
| ✴️ Stop-Out | 50% |
| 📅 Research Platforms and Trading Signals | Yes ✔️ |
Traders on all accounts will also have access to the following features and benefits:
➡️️ Deep liquidity & orders executed in > 10ms
➡️️ LD4 & TY4 Equinix data centre.
➡️️ Negative Balance Protection.
➡️️ 160+ Trading Instruments.
➡️️ No last look” execution.
➡️️ Trade with no hidden fees or mark-ups.
➡️️ Aggregated prices from tier banks & non-banks.
Demo Account
The free demo account from FxGrow can be easily opened through a digital registration process. Funded with virtual currency, the demo account will allow users to test the features of the MetaTrader 5 platform within the conditions of the broker’s trading accounts.
Islamic Account
The Islamic Account from FxGrow has the same spread conditions as the swap-rated accounts, but traders will not incur interest on positions held overnight.
Upon acceptance of your account registration, you can apply directly to the broker’s client support team for an Islamic Account to be set up. As soon as the broker’s Back Office receives your request, your trading account will be granted a swap-free status and you will be notified by email accordingly.
Please note that FxGrow reserves the right to revoke the swap-free status granted to any real trading account in the event of any form of abuse.
Also known as ‘no swap accounts’, Islamic trading accounts allow Muslims to engage in online forex trading in compliance with Sharia law.
With 25% of the world’s population practicing the Islamic faith, Islamic forex trading has continued to gain popularity worldwide.
An Islamic Forex trading account charges no swap or rollover interest on positions held overnight in the forex market. An administration fee is, however, charged on some accounts to open positions.
Min Deposit USD 100 Regulators CySEC Trading Platform MT4, MT5 Crypto Yes Total Pairs 61+ Islamic Account Yes Trading Fees Low Account Activation 24 Hours
FxGrow Pros and Cons
| ✔️ Pros | ❌ Cons |
| No additional charge on Islamic Account | More lengthy account application for Islamic Account |
Conclusion
FxGrow offers 3 different account types, the ECN account, ECN-PLUS account, and the ECN-ELITE account. FxGrow Account Types vary according to what traders require.
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Frequently Asked Questions
Trading environment
How many instruments can I trade with FxGrow?
FxGrow offers various instruments and asset classes, including over 61 currency pairs across majors, minors, and exotics, over 34 CFDs on futures (currencies, indices, and commodities), 17 cash indices and commodities, plus 7 metals and energies.
Which platforms are supported by FxGrow?
MetaTrader 5.
Does FxGrow offer leverage?
Yes. FxGrow offers a maximum retail ratio of 1:30 on FX majors, 1:20 on minors, gold, and indices, and 1:10 on silver, commodities, and energies.
What spreads can I expect with FxGrow?
FxGrow offers variable spreads from 1.1 pips in the standard ECN account and 0.2 pips in the ECN Plus and Elite accounts across currency pairs such as EUR/USD. Gold spreads are around 0.22.
Does FxGrow charge commission?
Yes. Commissions are charged at 8 per lot in the Plus account and 6 per lot in the Elite account. FxGrow charges 0.6 USD on FX & Metals (per 1 Mini lot per side) and 0.12 USD on CFDs (per 1 lot per side).
Are there additional charges on the Islamic account?
No.
Is FxGrow regulated?
Yes. FXGROW is regulated by the Cypress Securities and Exchange Commission (CySEC).
Is FxGrow a recommended forex trading broker for experts and beginners?
Yes. FxGrow offers an excellent trading environment for both beginner and expert traders.
What is the overall rating out of 10 for FXGROW?
8/10.
Accounts
What is the difference between a demo and a live trading account?
A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring of both the broker’s offer and the trading platform.
A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.
Does FxGrow offer a demo account?
Yes, FxGrow offers a free demo account to all new traders.
For how long is the demo account valid?
The broker does not provide this information. However, most demo accounts are valid for 30 days.
Does FxGrow offer the option of an Islamic Account?
Yes.
Which live trading accounts does FxGrow offer?
FxGrow offers 3 ECN accounts: ECN, ECN-Plus, and ECN-Elite.
What are the available deposit currencies for a live trading account?
FxGrow accepts US dollars, EUR, and PNL. This is a limited selection, and traders depositing in smaller currencies, such as ZAR/Rand, will incur conversion fees.
Deposits and withdrawals
What is the minimum deposit for FxGrow?
The minimum deposit amount required to open a broker account with FxGrow is $100 for the standard ECN Account.
To open an ECN-plus or ECN-Elite account, traders will have to make a minimum deposit of $1000, which will grant them access to more benefits, including tighter spreads.
How do I make a deposit and withdrawal with FxGrow?
FxGrow offers a limited, though popular selection of accepted deposit methods, which consist of the following options:
- Bank wire
- credit cards
- debit cards
- Neteller
- Skrill
- CashU
- OKPay
- WebMoney
Does FxGrow charge withdrawal fees?
FxGrow does not charge deposit or withdrawal fees, however, your selected payment processor may charge a handling fee that is beyond the broker’s control.
How long does it take to make a withdrawal?
Withdrawals are instant if they are requested during normal working hours via credit card and E-wallet. Deposit and withdrawal via wire transfer take between 3 to 5 business working days.
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