FxGrow

FxGrow Review: Is FxGrow a Good Broker?

Broker overview and general information

FxGrow was founded in 2008 with the vision of “providing high standard services by introducing and developing the most advanced tools to ensure that traders receive the best trading conditions” along with numerous licenses from reputable organizations.

FxGrow has grown exponentially and now serves retail and corporate clients in over 100 countries from its office in Cyprus. This should give traders some peace of mind, which we will explore in more detail in this article.

Broker Licensing and Regulation

If you ask whether FxGrow is good or not, you must first consider the license factor, which has the following licenses:

• Cyprus Securities and Exchange Commission (CySEC) License No. 214/13 under Growell Capital Ltd.

FxGrow Products and Services

Trading products

• Forex: Trade currencies from all over the world, including major and exotic currencies, with over 61+ currency pairs supported on the FxGrow trading platform.

• Cryptocurrencies: Trade major cryptocurrencies like Bitcoin, Ethereum, Litecoin on the FxGrow platform.

• Precious Metals: Trade Gold, Silver with tight, competitive spreads

• Index: Indexes are popular leveraged financial instruments that allow speculation on rapid price increases or decreases without actually owning the underlying asset.

Trading Platform

• MT5

FxGrow presents the latest version of the MetaTrader 5 platform, which includes everything you need to trade on financial markets.

MetaTrader 5's advanced charting technology and sophisticated order management tools allow for quick and efficient monitoring and control of buy/sell positions.

MT5 is an exciting platform packed with the latest features aimed at improving the trading experience. It is available for free on all account types.

MT5 supports both PC and smartphones, both IOS and Android systems.

FxGrow Account Types Review

FxGrow has 3 types of trading accounts: ECN Account, ECN-Plus Account, ECN-Elite Account, all of which have different features as follows:

ECN Account

• Minimum deposit $100

• Spread: Variable starting at 1.1 pips

• No commission 

• Leverage 1:30

• Margin Call: 50%

• Stop Out : 50%

ECN-Plus Account

• Initial deposit $1,000

• Spread: Variable starting from 0.2 pips

• Commission: 8$

• Leverage 1:30

• Margin Call: 50%

• Stop Out : 50%

ECN-Elite Account

• Initial deposit $100,000

• Spread: Variable starting from 0.2 pips

• Commission: 6$

• Leverage 1:100

• Margin Call: 50%

• Stop Out : 50%

Deposit and Withdrawal Review

FxGrow supports fast and secure payments with solutions certified to international standards.

Strict confidentiality and data encryption to ensure that traders' transactions are tightly protected.

Deposit-Withdrawal Channels

• Credit/Debit Card

Commissions and Fees = Varies between 1.9% and 2.9% / Withdrawal fee €2

Minimum deposit 1$ / Minimum withdrawal 10$

• Electronic wallet

Minimum deposit 1$ / Minimum withdrawal 10$

Fee Deposit None / Withdrawal Up to 3.9%

• Bank transfer

Minimum deposit $100 / Withdraw $100

Fees vary depending on the bank.

Deposit-Withdrawal Period

• Deposit period: Immediate - 2 days

• Withdrawal period: 0-5 days

Broker Customer Service

• Live Chat (Mon-Fri 24/5)

• telephone :+357-25-211707

• X : https://twitter.com/fxgrow

• LinkedIn : https://www.linkedin.com/company/fxgrow/

• YouTube : https://www.youtube.com/channel/UCIW5WD2-she6NUQX9XEsnOQ?view_as=subscriber

• Email: [email protected]

FxGrow Review: Pros and Cons

Pros :

• Trusted license

• Narrow spreads

Cons :

• Thai language is not supported

• No promotions

• High minimum deposit

• Only one platform can be used, MT5.

• There is a fee for withdrawals.

• There is a commission fee.

Broker Overview Summary

FxGrow is considered a reliable broker with a wide range of functions such as different account types, a full range of trading instruments, and a standard MT5 platform. In addition, there are trading partners that enhance the image of being more reliable.

However, there are disadvantages such as not supporting Thai language, no promotions and a relatively high minimum deposit. In addition, there are withdrawal fees and commissions, which may be inconvenient for some traders.

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FxGrow Review Compare spreads, fees, trading platforms, deposit and withdrawal conditions and more with real user reviews to help you decide which broker suits your needs.