FxGrow

The Company. Security of Funds

FxGrow is an STP/ECN broker offering forex trading and various contracts for Difference (‘CFDs’) precious metals and energy-related products.

FxGrow is the name for Growell Capital Limited – a Cyprus Investment Firm (CIF) licensed and controlled under the supervision of the Cyprus Securities and Exchange Commission (CySEC).

The Cypriot financial watchdog imposes specific rules and regulations to holders of licenses. For instance, funds from customers should be stored in separate accounts. Additionally that, the Commission demands that forex brokers maintain a minimum of EUR 1,000,000 in order to demonstrate that they are financially stable.

To further protect the funds of clients As a further guarantee to clients’ funds, all CySEC-regulated firms are part of the Investor Compensation Fund. It is the fund of last resort for clients of firms that are regulated. If a company goes into insolvency or ceases to trade and the Fund can pay compensation to its customers up to the maximum amount of 20.000 EUR. Similar compensation programs are available in other countries.

Furthermore, FxGrow is regulated under the Markets in Financial Instruments Directive (MiFID) with respect to offering cross-border solutions within EU in the MiFID Passporting Regime that allows firms that are regulated in the state of their “home state” to provide services to customers from other EU member States. Furthermore the broker is registered with several EU regulators.

Additionally, the broker states in its site that it will cover negative balances. That means that accounts will be relegated to a negative balance if they turn negative because of the rapid-paced volatility of the market. FXGrow’s customers will not lose more than they’ve put in.

Trading Conditions

Minimum Initial Deposit

To be able to create an account at FxGrow traders must put in at least $100. This minimum amount of initial investment is considered to be reasonable and average. Comparatively the Easy-forex, a Cyprus-based company Easy-forex requires $25 FXTM and $25 from its customers as a beginning.

Spreads & Commissions

The broker provides different spreads that vary based on account type: the typical spreads on the EUR/USD account amount to 1.4 pip on EUR/USD for the account with no commission which is regarded as an average spread for the account type. The ECN Plus account offer average spreads that are as low as 0.2 per cent on EUR/USD. but it also comes with an additional commission that is $6 for each lot for each side. In essence, the average cost of trading on these two types of accounts are identical.

Comparatively Exness, a Cyprus-based company Exness, a Cyprus-based company, offers its ECN customers with spreads that average 0.4 percent on EUR/USD. which results in a fee of $2 2.5 per normal lot. You can also find live spreads for the top 15 forex brokers here..

In the case of CFDs there is a typical commission fee that is $ 0.25 USD will be charged for one lots per side.

Leverage

The maximum leverage offered through FxGrow is 1:300. This is the average ratio in the market for forex. If, however, you require more leverage, several brokers that are based in Cyprus provide this. For example, XM provides leverage up to 1:888 as well as FXTM can be as high as 1:1000.

We suggest you use caution when trading margin as the higher leverage can lead to greater risk of losses that could surpass the initial investment made by traders.

Trading Platforms

This broker gives you the selection of two fundamental platform for trading: the exclusive NetStation and the highly acclaimed MetaTrader 4.

FxGrow’s proprietary software NetStation is a workstation that runs on the web that utilizes Java technology for speedy access to financial data streaming as well as business news and professional charting tools. NetStation is compatible with multiple browsers and languages, and can be used by all kinds of traders.

Additionally, FxGrow supports the award-winning MetaTrader 4 the most popular choice for the experienced traders. It provides everything the features a trader requires with a range different technical indicator, a comprehensive back-testing capabilities advanced charting software as well as a broad range of Expert Advisors (EAs). The traders can download pre-designed strategies or build their own strategies for trading and then let the program complete the job. It is available as both mobile and desktop versions.

Furthermore the broker provides the option of a web-based version MT4 which is known as FxGrow WebTrader that is compatible with any operating system and web browsers. It comes with all the features and functions of MT4.

FxGrow has formed a partnership in partnership with Signal Trader the operator of the system that provides automatic and manual signals to provide its mirror-auto-execution system, which allows customers to duplicate trades of professional traders on their accounts.

Additionally the above, In addition, Virtual Hosting ( VPS) is also available ($10 for a month).

Promotions

FxGrow offers new and existing clients cash back through its TradeBack program. Based on the volume of their trading each month the traders will receive rebates of between $2 and $6 per lot they trade regardless of whether they’re winning or losing.

Methods of Payment

FxGrow provides a range of payment options, including debit and credit card (Visa, Maestro), internal transfer, bank wire and e-wallet solutions including Skrill, Neteller, WebMoney OK PAY Yandex money, and QIWI.

Conclusion

FxGrow is a regulated ECN broker offering online trading for a range of CFDs, currency pairs and commodities. It allows for quick execution via various trading platforms.