FXORO forex broker: a comprehensive review in 2021

FXORO Review

FXORO is a platform for ambition traders. It was formed in 2012, and it has since made a name for itself in the financial markets. FXORO is an excellent solution for investors who want a direct, effective, customer-centered approach. In this review, we will take a look at all of FXORO’s features.

Pros and Cons of FXORO Broker

What impresses us about FXORO, and what could use improvement?

ProsCons

Many educational resources

Excellent promotions

Plenty of tradable assets

Many deposit and withdrawal options

+ Reputable broker

– The minimum first deposit is $200, which is higher than some other broker services

– There are inactivity fees if you haven’t traded for three months

Key Features

FXORO users get to enjoy a fully comprehensive set of features, including:

  • Well-designed web and mobile platform
  • Individualized training
  • Negative balance protection
  • Market update tools
Trading Instruments– FXORO Forex pairs
– Commodities
– Shares
– Risers
– Indices
– Crypto
– Fallers
Spreads

With a variable spread account, spreads may be as low as 0.3 pips.

In a fixed spread account, the spread is 2 pips.

LeverageUp to 1:400
Trading Platforms– FXORO MT4: This is the most widely used analysis and charting software, which comes with many tools, as well as instantaneous order execution and results shown in real-time.
– MT4 for IOS
– MT4 for Android
Base Account Currencies– USD
– EUR
Regulation– FSA
– FCA
Demo AccountNo, a demo account is not available.
Islamic AccountYes, FXORO Islamic account is available.
Allowed CountriesFXORO is allowed in most of the world – but one notable exception is the US. If you are unsure whether your country is supported, reach out to FXORO’s customer service team.

Account Types

There are two types of accounts available at FXORO: Fix and Floating

FixFloating
DescriptionTrading spread remains constant to offset some volatilitySuitable for traders who make many trades per day
Trading AssetsForex, Indices, Shares, Commodities and CryptocurrenciesForex, Indices, Shares, Commodities and Cryptocurrencies
Spread2 pipsStarting from 1.2 pips
Max Leverage1:4001:400
Stop Outn/a25%

Deposit Options

Deposit optionCurrenciesFee
Bank wire transferUSD, EUR, GBP, CHF0% – 4%
Credit and debit cards (Visa, MasterCard, Maestro)USD, EUR, GBP, CHF0%
E-wallets (Skrill, Neteller, GlobePay)USD, EUR, GBP (and only USD for GlobePay)0%

Withdrawal Options

Withdrawal OptionCurrencyFee
Bank Wire Transfer (SEPA)USD,EUR,GBP,CHF5 – 140 USD/EUR/GBP/CHF
Bank Wire Transfer (SWIFT)USD

1 – 700 = 35 USD

>700 = 5%

Credit Cards (Visa, MasterCard, Maestro, JCB, UnionPay)USD, EUR, GBP, CHF5 EUR/USD/GBP/CHF
SkrillUSD, EUR, GBP5 USD/EUR/GBP
>500 = 1 %
NetellerUSD, EUR, GBP15 USD/EUR/GBP
>1500 = 1 %
GlobepayUSD5 USD/EUR/GBP
>500 = 1 %
DivePayUSD, EUR5 USD/EUR/GBP
>500 = 1 %
JetonUSD, EUR1 – 500 = 5 EUR/USD
>500 = 1%
Other APM Solutions+25 % over the transaction cost

Bonuses and Promotions

FXORO currently has three promotions:

  • Trade your volume for gold. If an FXORO user has 1000 transaction lots within 3 months, they receive gold bullion. To take part in this promotion, simply give your account number to your FXORO manager and ask him to take part in this promotion. Upon redemption, the gold bullion may be sent to your address, or, if you choose, you can transfer its value to your account.
  • Get more trading power. New users are welcomed with a 30% equity bonus – all you have to do is create an account and deposit at least $200.
  • Receive cashback. FXORO offers a maximum of 50% cashback on each batch of opened transactions.

Best Payment Solutions for FXORO Users

With FXORO, ecoPayz, Skrill, Neteller, and Trastra are phenomenal payment solutions, allowing for fast, affordable, reliable, and secure transactions. Skrill and Neteller are available as deposit methods, and they all can be used for withdrawals. When you use our link to sign up for any of these services, you’ll get access to exclusive benefits.

trastra logo brokerTrastra: Trastra VISA card for free, 300 EUR daily ATM withdrawal, ATM fee of only 2.25 EUR, no fees for card purchases or transfers of funds from crypto to card

neteller broker logo

Neteller: Priority verification, great customer support, Bronze Pro status for free after account verification, VIP Silver status on special terms, complimentary Net+ prepaid card

Skrill transferwise logo

Skrill: Fast-track verification, VIP Silver and Gold statuses on favourable terms, complimentary Skrill prepaid MasterCard for EEA residents, Knect loyalty program

 

FAQ

What is the minimum deposit/withdrawal on FXORO?

The minimum deposit to create an account on FXORO is $200. However, according to their Terms and Conditions page, there is no minimum amount set for topping up an existing account. The only requirement for withdrawing funds is that your free margin must exceed the number specified for withdrawal.

What is an inactivity fee?

Account-holders who have not traded for three months are charged $25 or its equivalent in another currency.

How do you contact FXORO customer support?

You can send FXORO’s customer support team a contact form, send an email to cs@global.fxoro.com, or call them at +442031290670. You may need to provide them with your FXORO login information if your question is account-specific.

 

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