Overview/ background
FXORO goes by the motto – anything is possible, and its symbol is the mighty African lion. Clients get to enjoy ECN accounts, floating accounts, and fixed accounts, enabling them to climb the highest mountain, and maximize trading activity at every level of the game. Among the many benefits of trading at FXORO are low spreads, favourable deposit and withdrawal options, 250+ financial instruments, fully licensed and regulated trading, multiple account options, negative balance protection, protected funds, and customer service excellence. The provision of customer support services ranks among the best in the Forex world, and the additional benefits provided by this brokerage make it highly enticing for traders. This includes MetaTrader 4, friend referral bonuses, and a comprehensive educational network. Clients are protected by way of the Investor Compensation Fund (ICF), and this broker has full passporting rights courtesy of MiFID.
Account Types
Account options include 3 primary accounts, each with their own set of benefits:
- FIX Accounts – leverage of 1:400, spreads of 2 pips, no commissions, and Islamic Account options. Fixed spread accounts have fixed spreads, regardless.
- FLOATING ACCOUNTS – leverage of 1:200, spreads from 1.2 pips, stop at 25%, zero commissions, and Islamic account options. Floating or variable spread accounts can have spreads as low as 0.3 pips, but they can rise.
- ECN ACCOUNTS – leverage of up to 1:100, spreads from 0 pips, stop out at 50%, commission of $6 per lot, and Islamic accounts optional. This is the preferred option for sophisticated traders.
FXORO prides itself in offering 3 unique account options. The differences between each of these accounts can be found in the spreads. When the buy/sell price differences are high, that is unfavourable to the trader, when they are low that is favourable to the trader.
Trading Platform/ software
Various trading platforms are available at FXORO, including MetaTrader 4. MT4 is the gold standard when it comes to trading Forex and CFDs. This is the most powerful, intuitive, and widely used trading platform in the Forex world. It is stable, secure, and resource rich. Whether you are a new trader or a seasoned professional, MT4 offers the consummate user experience. The range of tools and features include charting options, automated trading, currency cross pairs, equities, commodities, and futures, and dozens of languages are fully supported by this trading platform. Among the many benefits of using this trading platform are a full trading history, account balance history, 128-bit encryption technology, and full IP security.
The Web trading platform at FXORO brings the power of MetaTrader 4 to you your device wherever you are. MetaTrader 4 WebTrader works with your browser to offer real-time stats, and a user-friendly layout. It’s ideal for opening/closing trades, stop loss/limit orders, and full charting functionality. Some 40 technical indicators are available on the WebTrader platform, with 4 charts, real-time risk stats, and 1 login access to all accounts.
The mobile trading platform is fully compatible with iOS and Android apps and features a user-friendly interface. There are 80 currency pairs available and a mix of financial instruments. Additionally, there are 30 technical indicators and 7 timeframes (M1, M5, M15, M30, H1, H4, and D1). Traders also get to access multiple chart types including Japanese candlesticks, line charts, and bar charts. FXORO MetaTrader 4 is a powerful mobile solution with 24/7 market updates.
Deposit options
FXORO deposit options include MasterCard, Wire Transfer, NETELLER, Skrill and VISA. All deposit options are guaranteed safe and secure and protected by SSL (Secure Socket Layer) encryption technology and the highest security protocols.
Markets
Markets are divided into 4 broad categories of financial instruments, including the following:
- Forex – 60+ currency pairs including majors, minors, and exotic currency pairs like GBP/USD, USD/CAD, EUR/USD, USD/CHF, EUR/CHF, USD/JPY, AUD/CHF, GBP/CHF, NZD/CAD, USD/TRY, AUD/NZD etc.
- CFDs – Contracts for Difference are derivatives trading products available on indices (Dow Jones, Nikkei 225, NASDAQ, FTSE 100, CAC, DAX), metals (gold, silver, platinum, copper), commodities (oil, Brent crude oil, natural gas, coffee, corn, soybean, sugar and wheat).
- Commodities – Include gold and silver.
- Stocks – Amazon, Apple, AT&T, Chevron, Cisco, Citigroup, Coca-Cola, Exxon Mobil, Facebook, Google, IBM, Intel, Microsoft, Netflix, Pfizer, Twitter, Wells Fargo, Telefonica, BASF, Bayer, BMW, Lufthansa, SAP, Volkswagen, Airbus Group, Total, Societe Generale.
Bonuses
Friend referral bonuses are available to clients, with the following friend referral rewards:
- Deposit between $300 and $1000 and claim a $100 reward
- Deposit between $1,001 and $2,500 and claim a $200 reward
- Deposit between $2,501 and $10,000 and claim a $350 reward
- Deposit over $10,000 and claim a $500 reward
To qualify for these friend referral bonuses, clients must complete the referral friends form (first name, last name, email, country, telephone number and friends details).
Customer Support
FXORO customer support is available through the Cyprus office or the UK office. Support options include email assistance (a reliable customer support option) with the following email addresses:
The Cypriot office can be reached on the following telephone number +357-25-20-5555. The fax number for the Cyprus headquarters is +357-25-20-5556. The UK telephone number is +44-203-695-4194. Customers also have the option of completing the online contact form where you enter your first name, last name, email, and your message. This is one of the most effective ways to relay your thoughts/opinions/ideas to the team. When live help is available, it is the quickest way to get in touch with customer support representatives.
Safety
Safety and security is assured at FXORO. Customers are protected by registrations and authorizations from multiple jurisdictions. These include the following:
- ASF – registration # PJM01FISMCYP1374
- FCA – registration #571351
- BAFIN – registration #126396
- CONSOB – registration #3318
- MNB – registration # K0000373
- AMF – registration #74009
- CNMV – registration #3065
Clients are also protected with Markets in Financial Instruments Directive Compliance (MIFID), COMODO secure, and I.C.F. (Investor Compensation Fund) regulation. The Investor Compensation Fund is offered through CYSEC.
Ease of Use
FXORO is a reputable CYSEC-regulated brokerage. Clients get to enjoy fully compliant trading with a wide range of financial tools, instruments, and platforms. Thanks to Investor Compensation Fund security, segregated accounts, effective customer support and a fully diversified trading selection, there are plenty of benefits to trading at FXORO.
Final Thoughts
From a Forex trader’s perspective, FXORO is on the money. The powerful trading platforms present many advantages to clients on MetaTrader 4, WebTrader, and mobile. With 250+ instruments, this fully licensed and regulated brokerage offers many ways to deposit and withdraw, and funds are fully protected at all times. Multiple major, minor and exotic currency pairs are available to traders.
