FXGROW Forex broker specializes in providing foreign exchange trading services, the company's official website https://secure.fxgrow.com/login, the company's legitimate regulatory information CyprusCYSECMarket Making(MM), to enhance the security of the company's address Arc. Makariou C 59 Steratzias Court Block A , Office 14, 4003 Limassol, Cyprus.
FXGROW Forex Broker
Basic information
Cyprus
10-15 years Regulated in Cyprus Market Making(MM) White label MT5 High potential riskCompany profile
Note: FXGROW's official website - https://fxgrow.co/ is currently inaccessible normally.
FXGROWReview SummaryFXGROW was registered in 2008 in Cyprus. It offers several types of products, including forex, bullion, indices, cash energies, and commodities. Besides, its minimum deposit is as low as $1, and the leverage can be up to 1:100. What's more, it is regulated in Cyprus.
Pros and Cons
| Pros | Cons |
| Regulated by CySEC | Inaccessible website |
| Diverse tradable instruments | Deposit and withdrawal fees charged |
| Tight EUR/USD spreads | |
| MT4 and MT5 supported | |
| Low minimum deposit | |
| Popular payment options |
Is FXGROW Legit?
Yes, FXGROW is regulated by Cyprus Securities and Exchange Commission (CySEC). However, the Vanuatu Financial Services Commission (VFSC) sanctioned this company, and BAPPEBTI, a financial regulatory authority in Indonesia, once blacklisted FXGROW. Therefore, potential risks still cannot be ignored.
| Regulated by | Regulated Authority | Current Status | Regulated Country | License Type | License No. |
| Cyprus Securities and Exchange Commission (CySEC) | Regulated | Cyprus | Market Making (MM) | 214/13 |
WikiFX Field Survey
WikiFX field survey team visited FXGROW's regulatory address in Cyprus, but we did not find its physical office.
What Can I Trade on FXGROW?
FXGROW offers several types of products, including forex, bullion, indices, cash energies, and commodities.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Bullion | ✔ |
| Indices | ✔ |
| Cash energies | ✔ |
| Commodities | ✔ |
| Stocks | ❌ |
| Cryptocurrencies | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Leverage
The leverage can be up to 1:100. Careful considerations are recommended, since high leverage is likely to bring high potential risks.
Spread
The spreads vary depending on the types of currency pairs. Take the EUR/USD pair for example, which is 0.6 pips.
| Currency Pair | Spread |
| EUR/USD | 0.6 pips |
| USD/JPY | 1.3 pips |
| GBP/JPY | 2.8 pips |
| GBP/USD | 0.9 pips |
| USD/CAD | 0 pips |
Trading Platform
FXGROW uses MT4, MT5, and FXGROW Web Trader as its trading platforms.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT4 | ✔ | Web, PC, mobile | Beginners |
| MT5 | ✔ | Web, PC, mobile | Experienced traders |
| Web Trader | ✔ | Web | / |
Deposit and Withdrawal
FXGROW supports several types of payment options, but it charges certain amounts of fees depending on the types of payment methods.
Deposit
| Deposit Options | Accepted Currencies | Fees | Min Deposit | Processing Time |
| VISA | USD/EUR | 1.9% - 2.9% | $1 | Automatic |
| MasterCard | ||||
| Neteller | ❌ | |||
| Skrill | ||||
| Bank Wire | $100 | 2-5 days |
Withdrawal
| Withdrawal Options | Accepted Currencies | Fees | Min Withdrawal | Processing Time |
| VISA | USD/EUR | 2 EUR | $10 | Automatic |
| MasterCard | 2EUR | |||
| Neteller | 3.9% | |||
| Skrill | 2.9% + 0.28/0.27 | |||
| Bank Wire | Varies depending on the bank | $100 | 2-5 days |
Rating Index
ECN
ECN-PLUS
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Latest Reviews
噯緈緈
United Kingdom
I don't think the companies regulated by CYSEC are reliable. I have seen several companies that are effectively regulated by it, but this does not stop them from bluffing and deceiving.
Positive
2023-02-16
海燕82268
Hong Kong
The trick of fraud platform is let you withdraw a little money first and then you should upload you card again because of system maintenance, pay margin for wrong card number, pay tax. Let you fall into the trap step by step. I’m one of the victims. You should call the police.
Exposure
2020-10-30
洪霖
New Zealand
FXGROW is a reliable foreign exchange company from the outside. It has been established for several years and has a reliable regulatory license. But it is not! There are too many scammers in the foreign exchange industry, and it is really difficult to identify them.
Neutral
2023-02-20