FXRoad Forex Broker

FXRoad Review SummaryFounded 2023Registered CountrySeychellesRegulated Not regulatedMarket InstrumentsMajor currency pairs, Shares of top global companies, Cryptocurrencies, CommoditiesDemo Account✅($100,000 in virtual fund)LeverageUp to 1:200SpreadFrom 2.4 pips (Silver account)From 1.8 pips (Gold account)From 1.2 pips (Platinum account)Trading PlatformWebtrader, TradingView, FXRoad App (iOS, Android)Min Deposit250 EURCustomer SupportService time: 05:00 - 18:00 GMT / Monday – Friday; 07:00 - 16:00 GMT / Saturday – SundayLive chat, contact formBrazil: +5561947565589India: +911171279109Email: support@fxroad.comSocial media: Facebook, Instagram, Twitter, LinkedInRegistered address: CT House, Office 9A, Providence, Mahe, SeychellesRegional RestrictionsUSA, Canada, the European Union, Iran, Iraq, Syria, North Korea, SudanFXRoad Information FXRoad, registered in Seychelles, is a newly-established unregulated broker, offering trading on Major currency pairs, Shares of top global companies, Cryptocurrencies, and Commodities with leverage up to 1:200, variable spreads on different account types and no commissions. Demo accounts are available, and the minimum deposit requirement to open a live account is as high as 250 EUR. Instead of the leading MT4 and MT5, trading platforms available are Webtrader, TradingView, and FXRoad App (iOS, Android).Is FXRoad Legit? FXRoad currently does not appear to be regulated by any major financial authority. Regulation helps protect traders by ensuring brokers adhere to certain standards. The lack of regulation means it's advisable to proceed with caution and thoroughly understand the risks involved before trading with FXRoad.Pros & ConsPros Cons • Various trading instruments to trade• Operates without regulatory oversight• Offers multiple account types• Tight spreads• Demo accounts available• High minimum deposit (250 EUR)• Open and equitable trading environment with no commissions• No MT4/5• Three choices of trading platforms• Lack of educational resources • Multiple contact channels• No 24/7 customer supportMarket InstrumentsTradable Instruments Supported Major currency pairs (EUR/USD, etc.)✔Shares of top global companies (Netfilx, Amazon, etc.)✔Cryptocurrencies( Bitcoin, etc.)✔Commodities (oil, gold, etc.)✔Indices❌Bonds❌Options❌ETFs❌ Account Type FXRoad offers four account types: Silver, Gold, Platinum and Islamic. All accounts offer leverage up to 1:200, 0%deposit commission and tight spreads. However, they differ in minimum spreads offered and target audience. Silver accounts are designed for new traders with a minimum spread of 2.6 pips. Gold accounts are for traders looking for more potential trading opportunities with a minimum spread of 2.0 pips. Platinum accounts are designed for experienced traders looking for an intensive trading experience with a minimum spread of 1.4 pips. Islamic accounts are designed for traders adhering to Islamic finance principles with no night rollovers.Leverage FXRoad offers leverage up to 1:200, which can magnify your potential returns. This high leverage is available across all their account types (Silver, Gold, Platinum, and Islamic).FXRoad FeesAccount TypeSpreadCommissionSilverFrom 2.4 pips❌GoldFrom 1.8 pipsPlatinumFrom 1.2 pipsTrading PlatformTrading PlatformSupported Available DevicesSuitable for Webtrader✔Web/TradingView✔Web/FXRoad App✔iOS, Android/MT4❌/BeginnersMT5❌/Experienced traders Deposit & WithdrawalPayment OptionMinimum DepositMinimum WithdrawalDeposit FeeWithdrawal FeeVisa250 EUR50 EUR❌❌MasterCardMaestroApple PayGoogle Pay