FXGROW Forex Broker

Note: FXGROW's official website - https://fxgrow.co/ is currently inaccessible normally.FXGROWReview SummaryFounded2008Registered Country/RegionCyprusRegulationCySECMarket InstrumentsForex, bullion, indices, cash energies, commoditiesDemo Account/LeverageUp to 1:100EUR/USD Spread0.6 pipsTrading PlatformMT4, MT5, FXGROW Web TraderMin Deposit$1Customer SupportTel: +357 25-211707Email: support@fxgrow.comSocial media: Twitter, Instagram, Linkedin, YouTube, FacebookAddress: Arc. Makariou C 59 Steratzias Court Block A, Office 14, 4003 Limassol, Cyprus FXGROW 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 ConsPros Cons Regulated by CySECInaccessible websiteDiverse tradable instrumentsDeposit and withdrawal fees chargedTight EUR/USD spreadsMT4 and MT5 supportedLow minimum depositPopular payment optionsIs 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 byRegulated AuthorityCurrent StatusRegulated CountryLicense TypeLicense No.Cyprus Securities and Exchange Commission (CySEC)RegulatedCyprusMarket Making (MM)214/13WikiFX 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 PairSpreadEUR/USD0.6 pipsUSD/JPY1.3 pipsGBP/JPY2.8 pipsGBP/USD0.9 pipsUSD/CAD0 pipsTrading Platform FXGROW uses MT4, MT5, and FXGROW Web Trader as its trading platforms.Trading PlatformSupported Available Devices Suitable forMT4✔Web, PC, mobileBeginnersMT5✔Web, PC, mobileExperienced tradersWeb 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. DepositDeposit OptionsAccepted CurrenciesFeesMin DepositProcessing TimeVISAUSD/EUR1.9% - 2.9%$1AutomaticMasterCardNeteller❌SkrillBank Wire$1002-5 days WithdrawalWithdrawal OptionsAccepted CurrenciesFeesMin WithdrawalProcessing TimeVISAUSD/EUR2 EUR$10AutomaticMasterCard2EURNeteller3.9%Skrill2.9% + 0.28/0.27Bank WireVaries depending on the bank$1002-5 days