FxGrow Review – What to expect from the company

FxGrow is a CFD Broker that features on its trading platform CFDs on forex, indices, commodities, futures, cryptocurrencies. FxGrow is a subsidiary company of Growell Capital Ltd, a corporation that is regulated and overseen by the CySEC in Cyprus. The average spread is for EUR/USD 3.2 pips*, real trading is possible with the minimum deposit of $100. The FxGrow website is available in English only.

What do we cover in our FxGrow Review?


General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Basic information about the broker

  • Website address: www.FxGrow.com
  • Leverage: up to 1:30
  • Instruments: CFDs – Forex, indices, commodities, futures, cryptocurrencies
  • Minimum deposit: $100 (accounts held in USD,EUR,PLN)
  • Demo account: Yes, free of charge
  • Methods of deposit and withdrawal: Neteller, Skrill, WebMoney, Yandex money, Qiwi, credit cards (Visa, Mastercard, Maestro), bank transfer

FxGrow Trading Platform

FxGrow features two trading platforms – MT4 and Zulutrade. The former is regarded amongst traders as one of the most prefered analytical platforms out there. The latter is a social trading platform that allows you to follow and copy successful traders on the ZuluTrade platform. The broker provides access to over 160 trading instruments.

FxGrow Spreads

As any other CFD broker, FxGrow charges a spread fee. For the most current spread charges, please visit the FxGrow.com website. Here is a spread comparison table that contrasts FxGrow spreads with popular industry competitors.


Asset EUR/USD USD/JPY GBP/USD AUD/USD
FxGrow* 3.2 2.1 4.8 N/A
Plus500** 0.6 0.7 1.1 0.6
IQOption** 1.2 0.9 1.5 1.6

*Avarage spreads recorded on 29.06.2019 at 8:23 GMT, spread charges were taken from the homepage of the broker. **Spreads recorded on 26.09.2019 at 11:26 GMT from the trading platform of the broker.

Advantages and disadvantages

Every Broker has its pros and cons, let’s have a look at the ones that elevate & denounce FxGrow.

FxGrow Pros
  • Hedging and Scalping supported
  • Wide range of payment methods
  • MT4 and ZuluTrade platforms
FxGrow Cons
  • Wide spreads
  • Apart from spread fees also commissions on CFDs (with the exception of forex): $0.12

To sum up the FxGrow Review

FxGrow adheres to strict regulatory guidelines of the CySEC (No. 214/13). The broker offers two popular trading platforms and supports a wide range of payment methods. There are around 160 assets tradable on these platforms, which is not bad. Fees that, however, apply on these assets are not very competitive, the spreads are wide and there is also a commission fee that charged to every CFD position (apart from forex trades). Taking all into consideration, I would say that there are many other CySEC regulated brokerage companies with a more intriguing offer.

 

Your review can make a difference to other traders, please leave a comment if you have any personal experience with FxGrow.



Michael
Latest posts by Michael (see all)

Leave a Reply