FxOro.com was founded in 2012 and is owned by MCA Intelifunds Ltd., which is regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 126/10.
FxOro offers a wide range of Forex and CFD assets and features real time margin protection, an advanced platform, and a knowledgeable customer service team.
Although the company has been in business for over 5 years, it’s still reasonable to ask: Is FxOro a scam? Or is this a legitimate Forex broker offering fair trading solutions?
FxOro offers three different account types. This includes accounts with fixed spread, floating spreads, and ECN accounts. They also offer swap-free Islamic accounts with no rollover. Here’s a quick breakdown of FxOro’s trading account requirements.
- Fixed Spreads – Requires a minimum deposit of $250 and comes with up to 1:400 leverage. Spreads stay at a manageable size of just 2 pips, no commissions, and full margin closeout.
- Floating Spreads – Requires a $1,000 minimum deposit and allows up to 1:200 leverage. Spreads start at 1.2 pips with no commissions and an account stop out at 25%.
- ECN – An initial deposit of $5,000 is required to trade on their ECN accounts, and includes 1:100 leverage, no spreads, a commission of $6 per whole lot, and an account stop out at 50%.
FxOro uses the popular MetaTrader 4 platform, which comes as a download, mobile app, and web trader. The broker offers over 60 currency pairs, ranging from the popular USD majors to lesser-known exotic currencies. In addition to Forex, FxOro also gives traders access to dozens of CFD’s in indices, stocks, and commodities spanning American, European, and Asian markets. Definitely an extensive list of tradeable assets.
FxOro also provides traders with an extensive array of educational material, 1-on-1 coaching, and even an updated list of buy and sell signals for specific instruments – all for free.
We looked around for any negative reviews or criticisms of FxOro, and were unable to find anything significantly negative about the company. Most negative reviews stem from the complex stipulations of each trading account, and the fact they only offer the MetaTrader 4 platform. But overall, FxOro appears to be a solid Forex broker with reliable services.