Overall, FxGrow can be summarised as a trustworthy and worthwhile broker. FxGrow is regulated by CySEC. The spread is also very low and offers a sign-up bonus for 1st-time traders.
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
FxGrow Review – 19 key points quick overview:
- ✔️Who is FxGrow?
- ✔️Safe or Scam?
- ✔️FxGrow Pros and Cons
- Leverage
- FxGrow Accounts
- FxGrow Market Instruments
- FxGrow Fees
- FxGrow Deposits and Withdrawals
- FxGrow Trading Platforms
- How to open a FxGrow account
- FxGrow Customer Support
- FxGrow Education
- FxGrow vs FXGlobe vs XM – A Comparison
- FxGrow Current Popularity Trend
- FxGrow Research
- FxGrow Awards
- Conclusion
- Disclaimer
- FAQ’s
Who is FxGrow?
According to research in South Africa, FxGrow was founded in 2008 and has since grown exponentially and is currently serving 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 FxGrow brokerage firm was founded in 2014 with the aim to provide a smooth trading environment between the client and the broker. FxGrow’s mission is to build relationships with its retail and institutional clients by granting access to top-tier prime brokerage and liquidity pools, and partnering with the leading technology providers (Metaquotes and PrimeXM).
As such, the company adopts its technologies to ensure an ultra-low latency network through FIX API along with MT4 gateway. Its vision is to provide high-standard services, by adopting and developing the most up-to-date tools to ensure best trading conditions.
Clients can enjoy unlimited access to international financial markets with unparalleled trading conditions of trades with no requotes and no rejection of orders. The innovative trading solutions cater needs of investors, from the beginning traders to the trading professionals who have years of successful trading behind them.
Safe or Scam?
FxGrow which is a brand name of Growell Capital, is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). In accordance to this, FxGrow, is governed by directives set out by MiFID in European Union and respectively authorized for cross border services by many European authorities.
To create safe and secure trading conditions FxGrow provides safe and secure operations with transparent transactions. All client funds are kept in segregated customer accounts, while maintained in the safest top-tier banks and supervised daily.
Retail client funds are insured by the Investor Compensation Fund for Customers of Cypriot Investment Firms with up to 20 000 EUR per client. Along with durable safety protocols which ensure site and platform integrity.
An additional entity is served through offshore zone Vanuatu, which is on its own not safe to trade. However, due to additional regulation from European authority, it is overseen constantly by other regulators, which makes it a reliable choice of a broker. The broker provides transparent trading conditions through STP execution of orders and lowest ECN spreads that starting from 0.00001 along with negative balance protection to ensure the client’s funds’ safety.
FxGrow Pros and Cons
| ✔️ Pros | ❌ Cons |
| Well-regulated | Mediocre leverage levels |
| Comparatively low spreads | Lacks education tools |
| Choice of trading platforms | No demo account |
| Offers the lowest spreads |
Leverage
FxGrow offers leverage levels which is widely used by the traders and may significantly increase your potential gains. However, you must use the tool smartly, as unnecessary risks may involve losses too.
Due to FxGrow regulatory requirements and set of rules applied by MiFID, the maximum offered leverage is 1:30 for major currency pairs, 1:20 for minor ones, and 1:10 for commodities.
While international traders signed accounts with FxGrow Vanuatu entity may apply for much higher leverage level of up to 1:400 for Forex instruments.
FxGrow Accounts
FxGrow brings a trustworthy relationship with its traders since it uses a transparent model of dealing with full access to data on balances, equity, and profits along with back-office support for the account statements.
There are three types of accounts offered that varies by the deposited amount and conditions applicable to them.
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 ✔️ |
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 Market Instruments
FxGrow trades in Forex, Indices and Commodities.
FxGrow Fees
FxGrow does not add any charges for transactions through card payments, however the e-wallet may require additional fees which vary from one payment to another. Below is an indication of fees charged for the different payment methods.
➡️️ Credit/debit cards – Visa/Mastercard: $0
➡️️ Skrill: 2.9% +0.28 (or 0.27)
➡️️ WebMoney: 3%
➡️️ Yandex money: 8%
➡️️ Qiwi: 7%
➡️️ Prepaid cards – cashU: $0
➡️️ Bank wire – $100
The pricing strategy is built to provide clear costs, with no hidden fees while no matter what you trade with, FxGrow has the lowest Interbank spreads, that are normally reserved for market makers and institutional traders but are available as a great benefit to FxGrow’s clients.
The average spread you may see bellows, while the typical spread is 10 cents for Gold and 1 pip for Crude Oil and Dow Jones.
Another cost, which you should take into consideration is an overnight fee or swap rate which is paid in case the position is held longer than a day. Islamic traders may apply for a swap-free account as they follow specific beliefs. The broker does not divide its clients and brings an array of products and services that everyone deserves along with transparent price feed.
It is the same for everyone with no exception. Markets offering includes a range of assets with 60 Forex currencies available in micro lots, Cash CFDs with no restrictions for Stop and Limit levels, Futures CFDs also with micro lots and no overnight charges.
FxGrow Deposits and Withdrawals
Once a client has opened an account you can deposit funds to trading accounts using one of the accepted multiple ways including credit cards or e-wallets along with internal transfer and Bank wire.There are no limits on minimum deposit amounts, therefore any option allows deposits starting from $1. However, the initial deposit that will allow you to trade diverse by the trading account you choose in your settings, thus ECN account require $100 as a start.
FxGrow doesn’t charge on deposit and withdrawal services. However, the payment providers may charge according to their own fees structure. All transactions are processed during normal business hours 9:00 am till 6:00 pm (GMT+2).
FxGrow doesn’t accept payments from third parties. You can make an internal transfer between your trading accounts at any time by logging in to your FxGrow secure area.
FxGrow Trading Platforms
FxGrow reduces the speed of transactions to nanoseconds for real pricing, by performing the STP execution, which is a crucial factor in trading. Therefore, the platform performance is essential for success for many companies.
WebTrader is currently one of the most advanced technologies provided by the broker, since the workstation utilizing Java technology for streaming financial data and advanced charting tools, does not require the installation and is always “ready”.
The platform offers free VPS hosting with and unlimited access to Research Platform and Trading Signals provided by Trading Central. Traders of any style are welcomed and allowed to use Hedging, scalping, EAs or their own trading strategy.
In addition, FxGrow is an official strategic partner with Myfxbook AutoTrade and ZuluTrade which is a world leading software for copying professional trading strategies directly through the client’s FxGrow MT4 account.
There is no joining fee and no other further fees, which is a further benefit from a diversified portfolio and numerous evaluated traders.
Meta trader 4, an award-winning trading platform, offers traders advanced analytical tools and reliable platform evolving continually over the years to respond to professional traders’ needs.
Mt4 platform can be downloaded on any of the following devices: Windows, Mac, Tablets, and smartphones: apple and android.
FxGrow new platform seeks to help you reach master accounts from brokers, analyse his strategies and follow his trades. All you must do is register for a FxGrow account and start your automatic trading at the easiest way!
The new platform is an updated and improved version of its predecessor which has long been the industry standard for traders around the world.
FxGrow is proud to present the next generation MetaTrader 5 Platform, designed to offer everything you need to trade the markets.
MetaTrader 5 advanced charting technology coupled with sophisticated order management tools help you to monitor and control your positions quickly and efficiently.
It is a powerful platform packed with brand new features aimed at improving your trading experience. It is available on all our account types.
How to open a FxGrow account
The FxGrow review process is fully digital, easy and fast. It does not offer the opportunity of opening a demo account, but you can open a live account and start after the necessary confirmation has been adhered to.
Step 1 – Open the Fxgrow website
Open the official FxGrow website.
Step 2 – Click on the “Open Account” tab
Locate the “open account” tab on the top right of the menu dropdown.
Step 3 – Add your information
Add your personal information in the spaces provided.
Step 4 – enter your password
Enter your password to log in to your account.
Step 5 – Your account has been created.
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 Customer Support
Customers can contact the company via telephone, email, live chat or complete an assistance request form 24/5
FxGrow Education
FxGrow does publish its own research but lacks an educational section.
While the partnership with Trading Central includes educational material, this broker has not tried to provide a comprehensive educational section and leaves this task up to the individual trader.
FxGrow vs FXGlobe vs XM – A Comparison
| 🔎 Broker | 🥇 FxGrow | 🥈 FXGlobe | 🥉 XM |
| 💰 Minimum Deposit | $100 | $250 | $5 USD |
| 📝 Sign-Up Bonus | ☑️ Yes | ☑️ Yes | ☑️ Yes |
| ➕ Max. Leverage | 100:1 | 1:300 | 1:888 |
| 💵 Currency Pairs | 61+ | 50+ | 57 |
| 🚀 Open an Account | 👉 Click Here | 👉 Click Here | 👉 Click Here |
FxGrow Current Popularity Trend
As According to Google Trends, here is an overview of how frequently the search term – “FxGrow” is entered into Google’s search engine over a given period of time.
FxGrow Research
On their website five research tools can be found namely: Economic Calendar, Trading Central, Trading Hours, calculator and Daily Analysis.
The calculator can calculate all the important parameters of trading such as the pip value, contract size, swap, margin and potential profit across a range of products.
FxGrow Awards
Being the best international broker in 2012 has opened new horizons and new opportunities for growth at FxGrow. The broker has continued to improve and strive towards future award. It strives to become recognized globally and try to serve its clients and partners, by providing them with transparency and best trading conditions.
Due to this continued performance, FxGrow were named as the best liquidity provider of the year 2018.
Conclusion
FxGrow’s reviews show the broker strives to provide the traders with the best possible trading conditions. In order to accommodate the different needs, levels of trading experience, investment capital or risk management skills FxGrow offers a wide range of trading instruments.
The company also provides fair trading conditions through three types of accounts powered by the STP and ECN technologies. Earned trust has many reasons, among them is that a broker is fully regulated by the applicable laws, offering one of the lowest spreads in the industry while in combination it is a simple but strong convincement to the traders.
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Disclaimer
FxGrow strives to deliver outstanding, innovative, and professional trading services to its clients and partners using state-of-the-art technology. All its business strategies are built on a framework of the highest ethical standards and values.
At FxGrow, Integrity, Transparency and Commitment are more than ideals, they are a way of life. FxGrow’s dedicated team of employees adopts innovative solutions to bring forth a level of service and efficiency not found anywhere else in the industry.
All this and more are geared towards a single purpose, the service of its clients and partners that remains as always, the brokers number one priority. After all, it is only through their continued success that we too can sustain our success.
Trading leveraged products such as Forex and CFDs involves substantial risk of loss and may not be suitable for all investors, since leverage can work both to your advantage and disadvantage.
As a result, trading such products is risky and you may lose all your invested capital. Therefore, you should not risk more than you are prepared to lose, According to research in South Africa.
Frequently Asked Questions
What is FXGrow?
According to research in South Africa, FxGrow was founded in 2008 and has since grown exponentially and is currently serving retail and institutional clients in more than 100 countries, from its offices in Cyprus.
Is FXGrow regulated?
FxGrow which is a brand name of Growell Capital, is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). In accordance to this, FxGrow, is governed by directives set out by MiFID in European Union and respectively authorized for cross border services by many European authorities.
Is FXGrow safe?
To create safe and secure trading conditions FxGrow provides safe and secure operations with transparent transactions. All client funds are kept in segregated customer accounts, while maintained in the safest top-tier banks and supervised daily.
Does FXGrow offer a demo account?
No demo account.
What is the minimum deposit for FXGrow?
There are no limits on minimum deposit amounts, therefore any option allows deposits starting from $1. However, the initial deposit that will allow you to trade diverse by the trading account you choose in your settings, thus ECN account require $100 as a start.
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