FXORO

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Disadvantages:

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About company:

Founded in 2012, FXORO offers over 60 currency pairs, indices and commodity CFDs for trading on the robust MetaTrader 4 platform.

Company. Fund security

FXORO is a trademark of MCA Intelifunds Ltd authorized by the Cyprus Securities Commission (CySEC).

Cyprus is one of the most popular Forex broker jurisdictions in Europe. According to CySEC requirements, investment firms must have € 730,000 in an account as proof that the firm is not a fly-by-night broker and is financially stable. Clients' money is kept in segregated accounts, and companies must regularly report to CySEC.

Another guarantee of funds invested by investors is a mandatory membership in the Investor Compensation Fund. So, in the event of insolvency, traders can return up to 20,000 euros per person.

In addition, every CySEC regulated investment company operates under the MiFID Directive and therefore has the right to offer its services throughout the European Union.

Trading conditions

FXORO offers several types of accounts. Clients can choose between fixed and floating spreads on regular accounts or ECN accounts. All account types, with the exception of ECN, are free of commission. In addition, FXORO offers swap-free services for Muslim clients.

Minimum initial deposit

To open an account with FXORO, you need to invest at least $ 200. This minimum starting amount is considered average. However, other Cypriot brokers require less.

Spreads and commissions

The spreads offered on FXORO interest-free accounts are averages: 2 pips fixed spreads for the EUR / USD pair and 1.5 floating pips for the same pair.

On the other hand, spreads on ECN accounts average 0.6 pips on EUR / USD. If we add a commission of $ 6, the average trading cost per lot is 1.2 pips, which is a very good deal.

Leverage

FXORO offers leverage from 2: 1 to 30: 1 for retail clients and up to 400: 1 for professional clients. The leverage depends on the traded asset.

Trading platforms

This broker offers its clients the standard MetaTrader4 Forex trading platform available in browser, desktop application and mobile version.

MT4 is the market standard in online trading. The terminal is considered one of the most reliable in terms of stability and security. MT4 supports dozens of languages around the world. The platform interface is intuitive, which makes it attractive for beginners and experienced traders. Users can easily open and close positions, view trade history. The platform offers advanced charting capabilities. It helps traders to trade and analyze the technical aspects of the market at the same time.

Support service

Support representatives or management can be contacted by phone, email, fax, and a contact form.

The site is available in seven languages: English, Italian, German, Romanian, Turkish, Hungarian, Arabic.

For the convenience of trading, traders have free access to economic calendars, e-learning materials, news. And they can participate in webinars.

Ways of payment

The following payment methods are available to FXORO clients: credit / debit cards (Visa, MasterCard, Maestro), bank transfers and e-wallet systems such as Skrill, Neteller, WirePay.

Please note that additional fees apply for withdrawals.

Traders can open an account in EUR, USD, GBP, CHF.

Pros:

regulated broker; MT4; ECN environment.

Minuses:

there is no choice of trading platforms.

FAQ - BROKER QUESTIONS FXORO

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Can the broker FXORO be considered honest?
Before any trading and choosing a broker, you should always read reviews on our portal, as well as on other resources. Brokers that are honest have a rating above 3.8. There is also always a risk of losing investments when trading CFDs. Be careful and read the risk warning on the broker's website. FXORO received a rating of 1 out of 5 on our resource.