At Cryptocoin Stock Exchange we pride ourselves in reviewing the most popular crypto trading platforms, like FXORO. In our FXORO review we have concluded that FXORO is a recommended platform for trading, it is not a scam. You can sign up with FXORO in the link below or continue reading the full review for more info.
FXORO is a brokerage firm started in 2012 in the city of Cyprus, which is operated by ORO Fintech limited; the firm works under several regulatory bodies like FSA, CONSOB, AMF, and FCA. With the fast-growing world, we have seen that online trading is on the rise. It has gained enough popularity by making endless opportunities for the investors who are looking to invest their capital in a rewarding platform. In this FXORO review, I’m going to give you a brief overview of how FXORO is one of the best trading platforms for new investors who are looking to invest their money in online trading like Forex and CFDs. And talk about some of the key features that FXORO provides to their customers.
If you look up different broker firms on the internet so you are going to find out many options and realize that everyone is claiming some really good services, but in the world of online trading, there are many scammers as well who are constantly looking for opportunities to scam inexperienced and new traders recently joined this business. In order to stay away from these types of scammers, reviews by the users who have experienced a certain firm comes in handy to give you a clear thought on what to choose. One of the most popular broker firms known as “FXORO” is creating new opportunities to provide a legit and rewarding platform for the new traders. Ever since the introduction of this broker firm to the market, it has only gained popularity among traders and has attracted many investors to join this committed broker firm. This is one of the reasons why FXORO is listed among one of the top-notch broker firms.
The firm is enthusiastic about providing different services of online trading like Forex and cryptocurrencies, and not only do they just provide it, but they provide it with excellence. While reading the reviews, you may find out that broker firms are often looked at as disappointing and terrible performers, but there are some really good broker firms working as well, like FXORO, which is proven as a game-changer in this field. This is one of those very few broker firms which don’t have any type of negative remarks and allegations about any fraudulent activities.
Distinction from other broker firms
To gain more traders and investors, different broker firms make false claims, but once a trader joins the firm, they realize that the reality is very different from the claims that they have made before joining. Dishonesty among different broker firms is very common nowadays, and it is building a very negative impact on the traders that are looking to step into the world of online trading. In order to counter such negative remarks, FXORO has ensured transparency by making it very clear on their website that they don’t provide investment tips to the customers; in fact, they are allowing their customers to take advantage of the experienced team that they have by taking advice from them. This step is taken to avoid any type of chaos in case of any unexpected trade. FXORO helps their traders by providing daily reports and analysis to give different trading strategies, but the ultimate decision-making power of where and when to invest your money is kept in the hands of the trader. An experienced team of FXORO and the latest technology is working side by side to provide traders with the best opportunities that they can ever have. This is one of the reasons why the majority of the traders prefer FXORO as their broker.
The most important thing for a trader is the ease of trading, and that is only possible if the broker is providing a very user-friendly and easy-to-use interface, and that’s exactly what FXORO does. It provides a very convenient and easy-to-use platform to help traders. The design which forms the basic structure of FXORO is known as “MT4”, which is one of the most secure and easy-to-use interfaces, with amazing charting instruments and several drawing tools to help traders monitor the market. Along with a user-friendly interface and extremely convenient software, MT4 also provides different language options to choose from. The FXORO offers their website as well as a mobile application for both IOS and Android, which is based on the MT4 interface.
Types of accounts offered by FXORO
The firm realizes that every trader has his own needs. Some investors are looking forward to investing more, while others are looking to invest comparatively smaller amounts. In order to cater to different types of needs of traders, FXORO is providing three different types of accounts to choose from. And those accounts are different from each other in terms of price difference where traders trade their assets.
- Fixed spread account
The first type of account which FXORO provides is called “Fixed spread account.” The users who are using this type of account are capable of making trades with significantly fewer risk factors because the spread remains consistent at all times. The margin at a leverage of 1:400 is provided to the customer with a minimum deposit of $200.
- Floating spread account
This account type is more suitable for the traders who are going to invest a little more than the basic investment. This account allows traders to start trading with a minimum of $1000. It provides a maximum of 1:200 of leverage. The feature that remains the same between the Fixed spread account and floating spread account is that there are no added commissions added to the account.
- The ECN account
This account is made for those investors who are looking forward to playing big games in online trading. The minimum deposit starts from $5000, and the leverage is kept to 1:100. With these facilities, there is a very small amount of commission per lot, which is $6, but it justifies the facilities that this account offers.
- Islamic Account
Unlike other brokerage firms which allow users to try Demo accounts, FXORO believes that it can be needless sometimes, and that is why the facility of Demo account has not been given to the traders.
Other than these features, there is another added feature that is standard throughout every account, and that is the Islamic version which means that the traders who are not willing to receive interests overnight are kept in mind and provided with a better alternative.
Trading costs of FXORO
The trading costs of FXORO are kept very competitive, other than just one account, which is ECN accounts, there are no additional commissions on any other types of accounts. The prices of trades are kept competitive in order to provide traders with the best features and services possible. Other than the commissions, swap fees are charged from the traders, but it does not imply to the ones who are using Islamic versions of accounts. For the Islamic version, the swap fees are alternated with an administrative charge of comparable value, and then it is given to the account.
Furthermore, if you have not been active in trading for at least three months, then the firm is going to attract a 25 base currency charge until a trade is either affected or the balance is finished.
All of these charges are not kept hidden, just like other broker firms. Instead, FXORO decided to make the traders aware of what they are going to pay other than the trades, which is a very appreciable approach towards traders.
Deposits and withdrawal methods
One of the features that make a broker distinct and better from others is its funds’ transfer method, as transferring funds is one of the main features that are going to be dealt with by trader and broker every time; hence it is required to be flawless and convenient. FXORO is committed to providing extremely convenient methods to deposit and withdraw your money from the account. If we talk about deposits, the firm allows traders to deposit through Debit and Credit card of Visa and MasterCard, other than that; traders can also deposit their money through bank wire transfers, e-wallets such as wire2pay, Neteller, and Skrill. Every deposit is totally free of cost, and there are no hidden charges to deposit your money in different currency options available.
Now coming to the withdrawing policy of FXORO, just like deposits, the firm allows traders to withdraw money with the same options as deposits, but the difference between both is that there are some charges to withdraw your amount. For credit cards, debit cardholders and Skrill users are bound to pay five base currencies, while users using Neteller have to pay 15 base currencies. The process of withdrawing your money is comparatively faster than other broker firms; you can get your money in 48 hours for debit and credit cardholders. However, bank transfers using e-wallets can take up to 10 days to process transactions, which is one of the fastest ways among other broker firms.
Remarkable trading education
There are multiple types of traders; some are experienced whereas some are inexperienced; in order to make inexperienced traders aware of how online trading of different instruments work, FXORO is providing its traders with the latest equipment which is going to educate and help them to monitor their trades, for that matter they have included tools like market updates, MQL and Authorchart list, news, etc. these measures are taken by FXORO to make traders aware of how online trading works and it will help them to get used to the market trends and help them to make better and smart trading strategies. The FXORO brokerage firm is also providing its users with in-depth courses which will guide them on how to use different platforms for trading.
Trading options offered by FXORO
Unlike other brokerage firms, which allow traders to trade only limited options of instruments, FXORO is one of the best broker firms for a reason; it provides a wide variety of trading options to choose from rather than just focusing on one instrument as other brokers do. To facilitate traders, FXORO provides users with three main trading instruments to choose from according to their personal preferences:
- CFDs (Contract for Difference): this is basically a derivative trading product which can vary from different food materials like soybeans, corn, oil, sugar, etc. as well as some metals. The platforms which provide these instruments which are partnered with FXORO are DOW, NASDAQ, FTSE 100, etc.
- Forex: it is one of the most traded instruments which deal with the trading of different currencies against each other, for example, USD against Pound, Euro against USD, etc
- Stocks: this is again one of the most traded instruments, which has attracted a lot of traders and investors for a long time. In this type of trade, a host of significant companies share their trades on this platform, and the investors invest their capital with the company and earn according to the prices of the stocks of that company.
Security – A major concern
As a trader, whether if you are experienced or new to the game, you will always be worried about the security of your personal information, as well as the money that you deposit. That is why FXORO has taken that into consideration and made some notable measures to ensure the security of your money and data. Many other broker firms lack this feature; either they claim some fake security protocols or the encryption technology is not as effective, and that is why many traders face scams and frauds while trading. But in order to give traders that ultimate peace of mind, FXORO has made itself compliant with CYSEC; that is why it is safe and secure to deal with through FXORO. And not only FXORO is affiliated with CYSEC but also many other law regulatory authorities like AMF, CMNV, CONSOB, BaFin, FCA, etc., to ensure trader’s mental satisfaction.
Customer support service
It is the most important factor that is going to set thought about a particular broker firm by traders. Many broker firms claim a lot of services on paper, but the thing which makes a broker the best among all is whether or not it provides the best customer support. Answering the customer is the most crucial determinant of how good or reputed a brokerage firm would be. Investor’s satisfaction and peace of mind is very much the only thing which needs to be achieved. And the satisfaction of the trader is only possible if the error or query by the trader is responded to as soon as possible.
FXORO has taken these things into consideration and took related measures in order to achieve that ultimate satisfaction. One of these measures is the introduction of an online support form which is going to act as a means of contact between firms and traders. This method is one of the fastest ways to cater to whatever queries traders have in record time. The firm also contacts the traders through phone calls, emails, etc., which are all some of the fastest ways to reach out to the customer support team. Other than that, if you prefer to meet the representatives of customer support for face-to-face queries, then they also have offices in UK and Cyprus where you can go and talk to them in person. These steps are often not taken by many other brokerage firms, and that is why FXORO is listed among the best brokers in the field.
FXORO is accessible from almost every part of the country except the USA, Canada, and Iran. Except for these countries listed above, FXORO has one of the most widespread reaches among other brokers. FXORO customer support service helps traders to find out whether the platform is eligible or not in their country.
If you are looking forward to diving into the world of online trading, so as a new investor, you have to keep in mind that it is not as simple as it sounds. You may encounter many scams and frauds if you don’t decide your broker wisely. And in order to help you to make a better choice, I’ve tried to give you an overall review of one of the best brokerage firms in the market. FXORO is no doubt one of those very few broker firms which claim a lot of promising services, and not only just they claim them but also fulfill what they promise to the traders. With the best customer support services and an extremely secured platform, FXORO is providing some of the distinct features like multiple account types, no hidden charges, a very user-friendly interface, and multiple transaction options. These are some of the key features which FXORO offers, and if we talk about the team of FXORO, it is very experienced and motivating to provide traders with the best of the services. These factors help FXORO to be among the very best brokers and attract many experienced traders.