FXORO

FXORO Review: Is FXORO a Good Broker?

Broker overview and general information

Established in 2010, FXORO is a broker dedicated to providing trading services in the global financial markets. It offers a wide range of trading products including Forex, Commodities, Indices and Cryptocurrencies to meet the needs of a wide range of traders around the world. The broker also focuses on providing high-quality and user-friendly trading platforms, as well as fast and efficient customer support.

Broker Licensing and Regulation

If you ask whether FXORO is good or not, you must first consider the license factor, which is the broker.Operated under ORO FINTECH Company Limited, registered in Seychelles and licensed by 

• Financial Services Authority (FSA) License No. SD046

• In addition, the FXORO brand and trademarks are controlled by MCA INTELIFUNDS LTD, which is regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 126/10.
  

Trading products and services

Trading products

The broker offers trading in a wide range of assets in the form of CFDs (Contracts for Difference), covering the following financial instruments:

• Forex: Offers trading in a wide range of currency pairs such as EUR/USD, GBP/JPY, with a focus on transparency and low spreads to increase profit opportunities.

• Shares (shares): Users can trade shares of leading companies around the world through CFD trading without having to hold actual shares.

• Commodities: Provides trading services for a variety of commodities such as gold, silver, crude oil and natural gas.

• Indices: Offers trading on major indices such as S&P 500, FTSE 100, and DAX30 via CFDs.

• Crypto (Cryptocurrency): Users can trade cryptocurrencies such as Bitcoin, Ethereum, and Litecoin through the broker's platform.

• ETFs (ETFs): Trading ETFs covering a wide range of assets such as commodities, stocks and bonds.

Trading Platform

The only trading platform isMeta Trader 4It is the most popular charting and data analysis software used by traders of all levels around the world. It can execute trades instantly and allow users to experience the results in real time.

Key Features of MT4

• Easy to use

• Flexible

• safe

• fast

• Multilingual support

• Advanced charting capabilities

• Automated Trading

• Fully customizable

FXORO Review: Account Types 

The broker offers two different account types to suit the trading needs of traders. The main difference between each account is the spreads linked to the transaction execution.

Fixed Spread Account

• Maximum leverage 1:400*

• Spread 2 pips

• Make full use of collateral

• No commission

Floating Spread Account

• Maximum leverage 1:400*

• Spread 1.2 pips

• Stop out 25%

• No commission

* Islamic Account = Swap-Free Account, No swap or rollover interest will be charged for holding positions overnight. Available for both account types. For Muslim traders only.

Deposit and Withdrawal Review

Deposit

• Payment Channels: Credit Card (Visa/MasterCard/Maestro), Bank Transfer, GlobalPay

• Minimum deposit: $200

Withdrawal

• Fee: $/€/£/₣10 per withdrawal

• Duration: within 48 hours

• Payment methods: Bank transfer, Credit/Debit card

• Money transfer time: 3-10 business days

Promotions and bonuses

• Promotion to convert trading volume to gold

  Chance to receive gold bars. Simply trade 2,500 lots within 90 days and receive gold bars with the FXORO Global logo. You can choose to have the gold bars delivered to your address or transfer the gold value to your FXORO account for investment or withdrawal.

• Refer a Friend Program

  Get bonuses for referring friends to sign up and start trading with no limit on the number of friends you refer. The more you refer, the more bonuses you will receive based on the number of trades your friends make.

• IIncrease your trading power up to 50%

  When you sign up and make your first deposit, you will receive a trading bonus of up to 50% to help you improve your trading efficiency.

• Get cash back up to 50%

  When you deposit a minimum of $200 to $10,000, you have the opportunity to get up to 50% cashback for every lot traded.

note:

• These promotions may have additional terms and conditions, please check with the broker directly.

• Broker charges $25 fee after 3 consecutive months of inactivity.

Support and Customer Service

• Tel : +2484671958

• Email :[email protected]

Broker Overview Summary

FXORO is considered a quality broker with a complete and diverse range of trading products that are attractive to investors. In addition, the company's information is transparent. However, the trading platform provided is only MT4, which may not be enough for those who want variety. In addition, the lack of a Live Chat channel and unclear explanations of deposit and withdrawal fees may be limitations for some traders. Therefore, it is necessary to consider and study the information carefully before deciding to invest.

FXORO FAQs

Q: In what currencies can I open an account?

A: You can open a trading account in USD and EUR.

Q: Can I withdraw money while I have an open position?

A: Yes, if at the time of payment, the reserve collateral exceeds the amount specified in the withdrawal order, including all payment fees.

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