FXORO Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of FXORO trading signals. You will learn what kinds of trading signals FXORO offers and what the conditions for using them are.
Short introduction of FXORO
The FXORO broker provides access to hundreds of contracts for difference (CFDs) on the following asset groups: currency pairs, cryptocurrencies, stocks, indices, commodities, and exchange-traded funds (ETFs). Additionally, its clients have the opportunity to invest in physical shares of American companies. They are offered a free demo account and three real accounts using fixed, floating, and ECN spreads. Any real account can be converted to a swap-free (Islamic) account. The spread is either fixed (2 pips) or floating (from 1.2 pips), and a commission is only charged on ECN accounts, amounting to $6 per standard lot. Professional accounts with higher leverage and minimum trade size are available to large investors. Trading is conducted through the MetaTrader 4 platform. Trading is limited to purchasing physical shares.
| 💰 Account currency: | USD, EUR, GBP, CHF |
| 🚀 Minimum deposit: | $100 |
| ⚖️ Leverage: | 1:30; 1:400 |
| 💱 Spread: | Floating (from 1.2 pips) or fixed (2 pips) |
| 🔧 Instruments: | CFDs on currency pairs, cryptocurrencies, stocks, indices, commodities, and exchange-traded funds |
| 💹 Margin Call / Stop Out: | 50% |
FXORO Pros and Cons
👍 Advantages of trading with FXORO:
•There are three real accounts and the ability to convert either to an Islamic account, and transfer to a professional account, allowing for customized trading conditions.
•A demo account is available; the minimum deposit is $200; and no commissions are charged on fix and floating accounts; all of which provides comfortable conditions for beginners.
•Increased leverage combined with an extended educational course, analysis, and signals, simplify trading for experienced players.
•The platform offers a wide range of fundamental and technical analysis tools for more accurate forecasting.
•Traders work through the MT4 trading platform, which stands out for its extensive customization potential through plugins.
•This broker does not charge a commission for the first three withdrawals per month regardless of the channel, which reduces traders' overall costs.
•Technical support operates round the clock on weekdays, with a call center, email, LiveChat, and ticket system on the broker's website.
👎 Disadvantages of FXORO:
•This broker only offers contracts for difference (CFDs).
•This company does not work with residents of the Islamic Republic of Iran, Canada, and some other countries.
•FXORO clients can earn solely through active trading and purchasing physical shares.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
FXORO Trading Signals
The majority of brokers' commission policies involve three main sources of income: spreads, trading commissions, and withdrawal fees. Spreads can be floating or fixed, standard or raw. Sometimes the spread is combined with the commission into a single charge, and sometimes there is no commission at all. In the case of FXORO, there are no trading commissions on fixed and floating accounts, and the spread is either a fixed 2 points or a floating value starting from 1.2 points. On the ECN account, the spread is also floating, starting from 0 points, but there is a commission of $6 per lot. The commission is slightly above the market average, while the spreads are average. It cannot be said that FXORO offers exclusively favorable conditions, but considering the overall factors, it is on par with its closest competitors.
| Account type | Spread (minimum value) | Withdrawal commission |
| Fix | $2, fixed, and without commission | No |
| Floating | From $12, floating, and without commission | No |
| ECN | From $0, floating, and commission is $6 per lot | No |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that FXORO does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
Is automatic position opening based on signals possible?
Yes, it is what copy trading implies. In this case, all trades are copied automatically to the trader’s platform.
Do brokers offer premium subscriptions to signals?
In some cases, brokers may offer premium subscriptions.
How are the signals provided via a newsletter?
A trader regularly receives trading signals to his/her email or personal messages in the account. As a rule, they are provided in the form of a report with screenshots of technical analysis.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.