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Rating Index

Pros

Regulated by reputable authorities (CySEC and FSA), providing a level of security and oversight.

Offers a wide range of financial instruments, including CFDs on various assets, allowing for diversified trading strategies.

Provides comprehensive educational resources and analytical tools, which are beneficial for both beginners and experienced traders.

Cons

Limited availability in certain regions, excluding residents from countries like the United States and Canada.

Only offers CFD trading, with no options for traditional assets like stocks outside of CFDs, which may limit some traders.

Higher minimum deposit requirement of $200 compared to some competitors, which may be a barrier for new traders.

FXORO broker Accounts

FXORO Account Type

FXORO offers several types of trading accounts tailored to meet the diverse needs of traders. The main account types include:

Fixed Spread Account:

Spread: Fixed at 2 pips.
Commission: No commission charged.
Leverage: Up to 1:400.
Minimum Deposit: $200.
Islamic Account: Available upon request.

Floating Spread Account:

Spread: Starts from 1.2 pips, varying with market conditions.
Commission: No commission charged.
Leverage: Up to 1:400.
Minimum Deposit: $200.
Stop Out Level: 25%.
Islamic Account: Available upon request.

ECN Account:

Spread: Starts from 0 pips.
Commission: $6 per lot.
Leverage: Up to 1:100.
Minimum Deposit: $5,000.
Islamic Account: Available upon request.

These accounts cater to both novice and experienced traders, providing options for those who prefer fixed costs as well as those who are comfortable with variable spreads.

FXORO Broker Account Opening Process

To open a trading account with FXORO, follow these steps:

Visit the FXORO Website: Go to fxoro.com.
Click on the Registration Button: Locate and click the “Register” button in the top right corner.
Fill in the Registration Form: Provide your first name, last name, country of residence, mobile phone number, and email address. Ensure all information is accurate.
Agree to the Terms: Read and accept the privacy policy, risk warning, and terms of use.
Submit the Form: Click the “Join” button to submit your registration request.
Account Verification: After registration, verify your account by submitting a copy of your identification document (passport or ID card) and a recent utility bill or bank statement confirming your address.
Deposit Funds: Fund your account using various methods, with a minimum deposit of $200.