CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 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.

FXGrow

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Home » Reviews » FXGrow

FXGrow Review

FXGrow is a forex trading services broker. They give traders access to a wide variety of instruments in several markets like currencies, indices and shares.

Pros

  • Segregates client funds
  • Established in 2012
  • Regulated by Financial Conduct Authority and CySEC
  • Min. deposit from $100

Cons

A minimum deposit of $100 is required to establish a live account. Alternatively, FXGrow provides a demo account that you may use to experiment and become acquainted with their platform.

The Financial Conduct Authority in the United Kingdom (FRN: 628755) and CySEC (Licence: 214/13) regulate the company. FXGrow keeps all customer funds in a separate bank account and works with tier-1 institutions to do so. FXGrow has been in business since 2012, with headquarters in Cyprus.

Before we dive into some of the more detailed aspects of FXGrow’s spreads, fees, platforms and trading features, you may want to open their website in a new tab by clicking the button below in order to see the latest information directly from them.

VISIT FXGROW

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

What are FXGrow’s spreads & fees?

Like most brokers, FXGrow takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The commissions and spreads shown here are based on the FXGrow website’s minimum spreads.

ForexFXGrowCity IndexXTB
EUR/USD(Average: 0.7 pips)0.2 pips0.7 pips0.1 pips
GBP/USD(Average: 1.1 pips)0.4 pips1.7 pips0.1 pips
USD/JPY(Average: 1.1 pips)0.4 pips0.6 pips0.1 pips
AUD/USD(Average: 0.8 pips)0.6 pips0.6 pips0.2 pips
USD/CHF(Average: 2.3 pips)0.3 pips2.3 pips0.2 pips
USD/CAD(Average: 2.9 pips)0.4 pips0.5 pips0.3 pips
NZD/USD(Average: 3.6 pips)0.7 pips 2.8 pips0.3 pips
EUR/GBP(Average: 2.4 pips)0.4 pips0.5 pips0.1 pips

Spreads are dynamic and are for informational purposes only.

As you can see, the minimum spread for trading EUR/USD at FXGrow is 0.2 pips, which is relatively low when compared to the average EUR/USD spread of 0.70 pips. The table below compares the costs of trading one lot of EUR/USD with FXGrow to similar brokers.

SEE ALL SPREADS

How much does FXGrow charge to trade 1 lot of EUR/USD?

If you bought one standard lot of EUR/USD (100,000 units) with FXGrow at an exchange rate of 1.1719 and sold it the next day at the same price, you would most likely pay $3.1. Here is a general breakdown of the fees and how they compare to IG and XTB.

FXGrowIGXTB
Spread from:$ 2.00$ 6.00$ 2.00
Commission:$8.00$0.00$0.00
Total cost of a 100k trade:$ 10.00$ 6.00$ 2.00
$4 less$8 less
VISIT FXGROWVISIT IGVISIT XTB

All fees/prices are for informational purposes and are subject to change.

What can you trade with FXGrow?

FXGrow provides over 500 various trading instruments, including over 20 currency pairings. We’ve summarised all of the different types of instruments supplied by FXGrow below, along with comparisons to the instruments offered by IG and XTB.

FX / CurrenciesFXGrowIGXTB
# of forex pairs offered9048
Major forex pairsYesYesYes
Minor forex pairsYesYes
Exotic forex pairsYesYes
Cryptocurrencies*NoYesYes
Commodity CFDsFXGrowIGXTB
# of commodities offered3421
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalNoYesYes
Index & Stock CFDsFXGrowIGXTB
# of stocks offered80001606
UK sharesYesYesYes
US sharesYesYesYes
German sharesYesYesYes
Japanese sharesNoYesYes
SEE FXGROW’S INSTRUMENTSSEE IG’S INSTRUMENTSSEE XTB’S INSTRUMENTS

Visit FXGrow

What’s the FXGrow trading experience like?

1) Platforms and apps

FXGrow provides the well-known MT5 forex trading software. If you are looking for MT4 broker, see our MT4 broker comparison for a list of the best MT4 brokers. To discover how the two systems differ, check out our MT4 versus MT5 comparison.

Traders may trade with their preferred device thanks to the mix of downloading platforms for both Mac and Windows.

They also offers mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

SEE FXGROW’S PLATFORMS

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

The minimum and maximum trading requirements with FXGrow vary based on the trader and the asset. Because they provide ECN and STP execution, you may anticipate incredibly narrow spreads and greater transparency into the price you pay to execute your transaction

As a nice bonus, FXGrow is one of very few brokers that claim to have no requotes, so you don’t have to worry about slippage (your trades being ordered at a different price to what you executed them at).

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

FXGrow also includes a variety of risk management tools, including as stop losses (with trailing stops), limit orders, negative balance protection, price alerts, and much more. You may view all of their account features here.

Finally, we’ve listed some of the popular funding methods that FXGrow offers its traders below.

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

Accounts offered:

  • Demo account
  • Micro account
  • Standard account
  • ECN account
  • Islamic account

Funding methods:

  • Credit cards
  • Bank Transfer
  • Skrill
  • Neteller

3) Client support

English, Spanish, French, Greek, Arabic, Polish, and Serbian are just a few of the languages supported by FXGrow.

4) What you’ll need to open an account with FXGrow

While FXGrow is regulated by the Financial Conduct Authority and CySEC, every new customer must go through a few simple compliance checks to verify that you understand the risks of trading and are permitted to trade. When you establish an account, you will most likely be asked for the following information, so have it handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.

While you may be able to browse FXGrow’s platform immediately, it is essential to note that you will not be able to execute any transactions until you pass compliance, which might take several days depending on your circumstances.

To start the process of opening an account with FXGrow you can visit their website here.

FxGrow

Open a demo account

79% of retail investor accounts lose money when trading CFDs with this provider.

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