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?
| Pros | Cons |
|
+ 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. |
| Leverage | Up 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 Account | No, a demo account is not available. |
| Islamic Account | Yes, FXORO Islamic account is available. |
| Allowed Countries | FXORO 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
| Fix | Floating | |
| Description | Trading spread remains constant to offset some volatility | Suitable for traders who make many trades per day |
| Trading Assets | Forex, Indices, Shares, Commodities and Cryptocurrencies | Forex, Indices, Shares, Commodities and Cryptocurrencies |
| Spread | 2 pips | Starting from 1.2 pips |
| Max Leverage | 1:400 | 1:400 |
| Stop Out | n/a | 25% |
Deposit Options
| Deposit option | Currencies | Fee |
| Bank wire transfer | USD, EUR, GBP, CHF | 0% – 4% |
| Credit and debit cards (Visa, MasterCard, Maestro) | USD, EUR, GBP, CHF | 0% |
| E-wallets (Skrill, Neteller, GlobePay) | USD, EUR, GBP (and only USD for GlobePay) | 0% |
Withdrawal Options
| Withdrawal Option | Currency | Fee |
| Bank Wire Transfer (SEPA) | USD,EUR,GBP,CHF | 5 – 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, CHF | 5 EUR/USD/GBP/CHF |
| Skrill | USD, EUR, GBP | 5 USD/EUR/GBP >500 = 1 % |
| Neteller | USD, EUR, GBP | 15 USD/EUR/GBP >1500 = 1 % |
| Globepay | USD | 5 USD/EUR/GBP >500 = 1 % |
| DivePay | USD, EUR | 5 USD/EUR/GBP >500 = 1 % |
| Jeton | USD, EUR | 1 – 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: 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: Priority verification, great customer support, Bronze Pro status for free after account verification, VIP Silver status on special terms, complimentary Net+ prepaid card
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 [email protected], or call them at +442031290670. You may need to provide them with your FXORO login information if your question is account-specific.
Inactivity fees if you haven’t traded for 3 months?! Really? I certainly know of people that may trade for a few weeks and then just stop and watch the market for months at a time. So this means FXORO is not a good match for them. Too bad. Looks like a broker with a lot of pros on their side.
Sarawut, choosing the right broker is the first step a person planning to enter the market must take. Trading on the stock exchange is basically conceived for the active conduct of transactions, even work with the purpose of investment usually implies periodic work with assets, whether it be a sale or a purchase.
But if a person considers a broker account as a place for simple storage of assets, he should choose another broker, or get a crypto wallet. For example, European clients could use Trastra wallet for this – https://baxity.com/trastra-cryptocard-review
I just read a few FXORO reviews and I have to say I am not impressed at all. They don’t seem to be around for that long (2012) and people keep saying they had bad experiences with them. Has anyone experience with them?
Ma@997, thank you for your comment! It is not always necessary to rely only on the reviews of other people, because we will never know the full picture of the situation. FXORO broker has FSA and CySEC licenses, which makes them a very trusted broker on the market.
Used them and would NOT recommend. Once I started making a profit they seemed to change their ways in a negative manner. Support is not very helpful and 3 months in, when I stopped funding my account with my money (as things were going well and that was not needed), my account manager started acting weird and slowly, but surely, I felt like I was “unwanted” and soon decided to switch to FxPro which is much better. It would be interesting to create a VS. type of article between FXORO and other services for people to see how good/bad this is compared to others.
DragonBeast, thank you for sharing your story with us. We are really sorry that you were unhappy with the quality of service in FXORO. And we wish you the best with your new broker FxPro.
By the way, thanks for the advice for our content on the site, we will definitely take note of 😉
Guys trust me, if ur trying to come in this forex trading, Please don’t make the mistake of choosing fxoro which I did, its a complete scam, the account manager never approves ur withdrawal request and when you try to contact the customer care, after hearing you 3-5 times repeating the same complaint, they start cancelling ur phone, the account manager I had was the biggest scammer I ever experienced in my trading life. Plzz take any broker but not fxoro!!
Abhang, thank you for sharing your experience! We are really sorry that you had to face such an attitude, it’s a pity we can’t help you 🙁
take a look on this company attitude to people, they are really unique nowadays….i love the experience with the company and I had small win revenues, not big
I believe the experience one has with a broker is affected by the potential winnings or losses. If you lose money, you will be disappointed and most likely rate a broker poorly. But losing money, when dealing with forex, is part of the game. This broker is regulated and operates accordingly. Not the best, but surely not a shady one.