According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- VFSC
- CySec
- 2007
Our Evaluation of FxGrow
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
FxGrow is a moderate-risk broker with the TU Overall Score of 5.88 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by FxGrow clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
Brief Look at FxGrow
Fxgrow was established in 2008, and today the company with offices in Cyprus serves customers from over 100 countries of the world. The company accepts both individual and corporate traders involved in the financial markets. In addition, Fxgrow customer care service is available 24/5. Fxgrow limited (www.fxgrow.co) is regulated and registered by the Vanuatu financial services commission (VFSC, 40308).
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TU Expert Advice
Author, Financial Expert at Traders Union
FxGrow offers a range of trading instruments, including Forex, indices, commodities, metals, energies, CFDs on futures, and cryptocurrencies. The broker provides trading through MT5 and mobile platforms, supporting ECN and ECN-plus accounts in USD, EUR, and PLN. FxGrow requires a minimum deposit of $100, offers leverage up to 1:100, and features competitive spreads ranging from 0.2-0.8 pips for EUR/USD. Users benefit from no inactivity, deposit, or withdrawal fees and can access 24/5 client support.
However, FxGrow's drawbacks include higher-than-average Forex trading fees and limited trading assets compared to competitors. Additionally, some reports suggest issues with order execution and support responsiveness. While FxGrow is potentially suitable for experienced traders seeking standard trading platforms and tools, it may not suit those prioritizing ultra-low spreads or extensive asset variety. It is recommended that traders assess their priorities and perform thorough research before engaging with FxGrow for trading activities.
We checked the office of the FxGrow brokerage company in Cyprus, which is located at the following address according to the information on the company’s website:
Arc. Makariou C 59, Steratzias Court Block A, Office 14, Limassol 4003, Cyprus
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The company is located at the stated address
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We were able to speak to a company representative
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We were able to visit the office as clients
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Video of the company’s office
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FxGrow Trading Conditions
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | MetaTrader 5, Mobile |
|---|---|
| 📊 Accounts: | ECN, ECN-plus, ECN-Elite |
| 💰 Account currency: | USD, EUR, PLN |
| 💵 Deposit / Withdrawal: | Neteller, Skrill, Bank Wire |
| 🚀 Minimum deposit: | 100 USD |
| ⚖️ Leverage: | 1:100 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 EUR/USD spread: | 0,2-0,8 pips |
| 🔧 Instruments: | Forex, Indices & Commodities, Metals & Energies Symbols, CFDs on Futures, Cryptocurrencies. |
| 💹 Margin Call / Stop Out: | 50%/50% |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Mobile Platforms |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Market Execution |
| ⭐ Trading features: | No |
| 🎁 Contests and bonuses: | No |
FxGrow Key Parameters Evaluation
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Regulation and safety
FxGrow has a safety score of 9.2/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Negative balance protection
- Track record over 18 years
- Strict requirements and extensive documentation to open an account
FxGrow Regulators and Investor Protection
| Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
|---|---|---|---|---|
 VFSC |
Vanuatu Financial Services Commission | Vanuatu | No specific fund | Tier-3 |
 CySec |
Cyprus Securities and Exchange Commission | Cyprus | Up to €20,000 | Tier-1 |
FxGrow Security Factors
| Foundation date | 2007 |
| Negative balance protection | Yes |
| Verification (KYC) | Yes |
Commissions and fees
The trading and non-trading commissions of broker FxGrow have been analyzed and rated as Medium with a fees score of 6/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Above-average Forex trading fees
- No ECN/Raw Spread account
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of FxGrow with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, FxGrow’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
FxGrow Standard spreads
| FxGrow | Pepperstone | OANDA | |
| EUR/USD min, pips | 0,2 | 0,5 | 0,1 |
| EUR/USD max, pips | 0,8 | 1,5 | 0,5 |
| GPB/USD min, pips | 0,2 | 0,4 | 0,1 |
| GPB/USD max, pips | 0,8 | 1,4 | 0,5 |
Does FxGrow support RAW/ECN accounts?
As we discovered, FxGrow does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with FxGrow. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
FxGrow Non-Trading Fees
| FxGrow | Pepperstone | OANDA | |
| Deposit fee, % | 0 | 0 | 0 |
| Withdrawal fee, % | 0 | 0 | 0 |
| Withdrawal fee, USD | 0 | 0 | 0-15 |
| Inactivity fee ($, per month) | 0 | 0 | 0 |
Deposit and withdrawal
FxGrow received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
FxGrow provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- Bank wire transfers available
- No withdrawal fee
- Minimum deposit below industry average
- BTC available as a base account currency
- Limited deposit and withdrawal flexibility, leading to higher costs
- USDT payments not accepted
- Wise not supported
What are FxGrow deposit and withdrawal options?
FxGrow provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC.
FxGrow Deposit and Withdrawal Methods vs Competitors
| FxGrow | Plus500 | Pepperstone | |
| Bank Wire | Yes | Yes | Yes |
| Bank card | Yes | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | Yes | No | No |
What are FxGrow base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. FxGrow supports the following base account currencies:
What are FxGrow's minimum deposit and withdrawal amounts?
The minimum deposit on FxGrow is $50, while the minimum withdrawal amount is $10. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact FxGrow’s support team.
Markets and tradable assets
FxGrow offers a limited selection of trading assets compared to the market average. The platform supports 160 assets in total, including 60 Forex pairs.
- Copy trading platform
- Indices trading
- Crypto trading
- Bonds not available
- No ETFs
Supported markets vs top competitors
We have compared the range of assets and markets supported by FxGrow with its competitors, making it easier for you to find the perfect fit.
| FxGrow | Plus500 | Pepperstone | |
| Currency pairs | 60 | 60 | 90 |
| Total tradable assets | 160 | 2800 | 1200 |
| Stocks | Yes | Yes | Yes |
| Commodity futures | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| Stock indices | Yes | Yes | Yes |
| Options | No | Yes | No |
Investment options
We also explored the trading assets and products FxGrow offers for beginner traders and investors who prefer not to engage in active trading.
| FxGrow | Plus500 | Pepperstone | |
| Bonds | No | No | No |
| ETFs | No | Yes | Yes |
| Copy trading | Yes | No | Yes |
| PAMM investing | No | No | Yes |
| Managed accounts | Yes | No | No |
Contacts
| Foundation date | 2007 |
|---|---|
| Regulation |
VFSC, CySec
Licence number: 40308, 214/13 |
| Official site | fxgrow.com |
| Contacts |
+961-1813880
|
Comparison of FxGrow with other Brokers
| FxGrow | Bybit | Eightcap | XM Group | LiteFinance | AMarkets | |
| Trading platform |
MT4, MT5, WebTrader | MetaTrader5 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, MultiTerminal, Sirix Webtrader | MT4, MT5, AMarkets App |
| Min deposit | $100 | No | $100 | $5 | $10 | $100 |
| Leverage |
From 1:1 to 1:100 |
From 1:1 to 1:500 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:1000 |
From 1:1 to 1:3000 |
| Trust management | No | No | No | No | Yes | No |
| Accrual of % on the balance | No | No | No | No | 7.00% | No |
| Spread | From 0.2 points | From 0 points | From 0 points | From 0.8 points | From 0.5 points | From 0 points |
| Level of margin call / stop out |
50% / 50% | No / 50% | 80% / 50% | 100% / 50% | 50% / 20% | 50% / 20% |
| Order Execution | Market Execution | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution, Instant Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | No | No | No | Yes | No |
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