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FXRoad

FXRoad is a reputable broker that aims to empower traders with the tools and confidence to navigate global markets. Offering its services worldwide, FXRoad provides dedicated support in multiple languages, ensuring a seamless trading experience for a diverse client base. While the broker has yet to receive prestigious industry awards, its regulation by the Financial Services Authority (FSA) of Seychelles attests to its commitment to transparency and adherence to stringent international standards. This regulatory oversight ensures that FXRoad maintains clear and ethical practices regarding pricing, commissions, and procedures, providing traders with a reliable and trustworthy investing environment.

70% of retail investor accounts lose money trading CFDs with this provider.

Visit FXRoad

Overall, FXRoad is a trustworthy and reliable broker that provides traders with access to a diverse range of financial instrumentsadvanced trading platforms, and exceptional customer support. Their commitment to transparency and strict compliance with industry regulations enforced by the Financial Services Authority (FSA) of Seychelles ensures that traders can navigate the markets with confidence and peace of mind.

FXRoad prioritizes creating a secure trading environment by keeping client funds segregated, implementing robust data encryption measures, and offering negative balance protection to shield traders from unexpected losses beyond their account balance. The broker’s comprehensive educational resources and dedicated customer support channels further empower traders on their journey.

With a user-friendly trading platform accessible across devices, a wide array of account types to suit varying needs, and a transparent pricing structure free of hidden fees, FXRoad presents itself as a compelling option for traders seeking a reliable and well-regulated online trading experience.

FXRoad rating

3.2

Overall rating
70% of retail CFD accounts lose money.

Pros and Cons of FXRoad

What we like about FXRoad

FXRoad is a regulated forex and CFD broker that offers a comprehensive suite of features designed to cater to traders of all experience levels. Here are some of the key highlights that we appreciated about FXRoad:

No Deposit or Withdrawal Fees

FXRoad prides itself on its transparent approach, with no commissions or fees on deposits or withdrawals. This commitment to transparency extends to their clear pricing structures and procedures, fostering a hassle-free trading experience for clients.

Extensive Educational Resources

FXRoad provides an immersive educational journey for traders, offering a wealth of resources such as daily market reviews, asset analyses, webinars, and more. This empowers traders to enhance their knowledge and make informed trading decisions.

Robust Trading Platform

FXRoad’s trading platform is designed to be user-friendly and accessible from any device, catering to both novice and experienced traders. With a clear and intuitive interface, traders can seamlessly navigate the platform and execute trades with confidence.

Versatile Account Types

FXRoad offers a range of account types, including Silver, Gold, Platinum, and Islamic accounts, tailored to meet the diverse needs and preferences of traders. Each account type provides varying levels of leverage, spreads, and additional features, allowing traders to choose an option that aligns with their trading strategies.

Dedicated Customer Support

FXRoad prioritizes customer satisfaction by providing comprehensive assistance throughout the trading journey, from account setup to ongoing support. Traders can rely on the dedicated customer support team to address their queries and concerns promptly.

Pros of FXRoad
  • Dedicated Customer Support

  • Modern Trading Platform

  • Extensive Educational Resources

  • Free Deposits & Withdrawals

What we dislike about FXRoad

When considering opening an account with FXRoad, be aware of some limitations. FXRoad only offers accounts in USD and EUR, which may not suit traders using other currencies. The broker’s platform options are limited to its own web and mobile apps, without support for popular platforms like MetaTrader. FXRoad provides a variety of account types but has a limited selection of trading instruments, around 350, potentially restricting traders looking for more options. Also, FXRoad charges inactivity fees on dormant accounts after 30 days without trading, ranging from 30 to 500 EUR, penalizing inconsistent trading activity.

Cons of FXRoad
  • Just USD & EUR accounts

  • Inactivity Fees

  • No MetaTrader

Tradable Instruments at FXRoad

FXRoad offers traders an extensive selection of over 350 trading instruments, catering to diverse investment strategies and portfolio diversification needs. This range encompasses major, minor, and exotic forex currency pairs, enabling traders to explore various market opportunities across the foreign exchange landscape. Popular pairs such as EUR/USD, GBP/USD, and USD/JPY are complemented by more niche options like USD/ZAR and USD/MXN.

Beyond forex, FXRoad provides access to a comprehensive array of assets, including cryptocurrencies like Bitcoin and Ethereum, allowing traders to participate in the burgeoning digital currency markets. Commodities such as gold, silver, crude oil, and natural gas are also available, facilitating exposure to these vital economic sectors.

fxroad trading instruments assets

Moreover, FXRoad offers traders the opportunity to invest in global equity markets through a selection of indices like the S&P 500, NASDAQ, and FTSE 100, as well as individual stocks from industry-leading companies such as Amazon, Apple, and Tesla. This diverse offering empowers traders to construct well-rounded portfolios tailored to their risk profiles and investment objectives.

Trading fees at FXRoad

he platform primarily makes money through the market bid/ask spread, which is the price difference between where you buy or sell an asset. This means that traders are not charged a fee for executing their buy or sell orders, but they do pay the spread, which is incorporated into the Plus500 quoted rates. However, other fees apply on the platform, which are listed below.

Spread Costs

The spread cost varies depending on the instrument being traded. For example, the spread for EUR/USD is 0.6 pips, which means that if the buy rate is 1.12078, the sell rate would be 1.12072. The spread is dynamic and can fluctuate within a range, affecting profit levels and overall strategy. Traders are reminded that such a strategy does pose a risk of a loss of capital.

Guaranteed Stop Order

If traders choose to use a Guaranteed Stop Order, they should note that it guarantees that their position closes at a specific requested rate, but it is subject to a wider spread.

Currency Conversion Fees

Plus500 charges a currency conversion fee of up to 0.7% for all trades on instruments denominated in a currency different from the currency of the account. This fee is reflected in real-time into the unrealized net profit and loss of an open position.

Detailed Review FXRoad

FXRoad is a fully regulated and trusted online trading platform that provides access to an extensive range of financial instruments, including forex, commodities, stocks, indices, and cryptocurrencies. As a broker licensed by the Financial Services Authority (FSA) of Seychelles, FXRoad adheres to stringent international regulatory standards and best practices, ensuring a transparent and reliable trading experience for its clients. The broker’s commitment to transparency extends to its clear pricing structures, commissions, and procedures, allowing traders to operate with confidence.

One of FXRoad’s standout features is its user-friendly trading platform, which is available across multiple devices, including desktop and mobile. The platform is designed to be intuitive and customizable, empowering traders to tailor their trading experience to their individual preferences and needs. FXRoad also provides a wealth of educational resources, such as daily market reviews, asset analyses, and webinars, to help traders make informed investment decisions.

To cater to traders of varying experience levels, FXRoad offers a diverse range of account types, including Silver, Gold, Platinum, and Islamic accounts. Each account type comes with its own set of benefits, such as varying levels of leverage, spreads, and additional features, allowing traders to choose the option that best aligns with their trading strategies and goals.

Funding and withdrawing from trading accounts is a seamless process with FXRoad, as the broker offers a range of payment options and does not charge any fees or commissions for deposits or withdrawals. This commitment to transparency and ease of use extends to FXRoad’s segregation of client funds from company funds, ensuring that client assets are kept secure and protected at all times.

For traders seeking additional trading opportunities, FXRoad offers a virtual account option, which provides a simulated trading environment with a balance of $100,000 in virtual funds. This feature allows new traders to practice and hone their skills without risking real capital, fostering a more confident transition to live trading.

While FXRoad presents a comprehensive and user-friendly trading experience, traders should be aware of certain limitations. For instance, the broker currently offers a relatively limited selection of account currencies, with only USD and EUR options available. Additionally, FXRoad implements inactivity fees for dormant accounts, which could be a drawback for traders who do not maintain consistent trading activity.

Overall, FXRoad stands out as a reputable and regulated broker that offers a diverse range of trading instruments, a user-friendly platform, and a commitment to transparency and client protection. While traders should carefully consider the broker’s limitations, FXRoad presents a compelling option for traders seeking a comprehensive and supported online trading experience.

Regulation & Safety at FXRoad

FXRoad is a regulated financial institution licensed by the Financial Services Authority (FSA) of Seychelles. As an FSA-regulated broker, it adheres to the highest international regulatory standards and rigorous compliance procedures. FXRoad prioritizes security and employs top-notch technology to ensure the safety of clients’ funds and personal data.

Client funds are kept segregated from company funds in reputable banking institutions, and FXRoad has an AML policy in place to ensure that all funds are derived from legal sources and not associated with any criminal activities. SSL encryption is utilized to keep user data secure, and data transmission is encrypted to prevent unauthorized access or data theft by third parties.

Furthermore, FXRoad offers negative balance protection to all its clients, shielding traders from unexpected market events that could potentially cause significant losses. This feature guarantees that traders cannot lose more than their account balance, providing an additional layer of security.

Overall, FXRoad takes security extremely seriously and provides its clients with peace of mind when trading on its platform, backed by its regulatory compliance, segregation of funds, data encryption, and negative balance protection measures.

Your account at FXRoad

FXRoad offers its clients a range of account types to cater to different trading needs and experience levels. Traders can choose from the following options:

  • Silver Account: Designed for traders who are familiar with the markets, this account provides access to all trading instruments with spreads starting from 2.6 pips for major forex pairs. It offers leverage up to 1:200 and does not charge any commissions on deposits.
  • Gold Account: The Gold Account caters to traders seeking more potential trading opportunities. It offers tighter spreads starting from 2.0 pips for major forex pairs and leverages up to 1:200. This account type also includes a 25% discount on the spreads offered by the Silver Account.
  • Platinum Account: Tailored for experienced traders seeking an intensive trading experience, the Platinum Account provides the tightest spreads, starting from 1.4 pips for major forex pairs. It offers leverage up to 1:200 and a 50% discount on the spreads offered by the Silver Account.
  • Islamic Account: For traders who adhere to Sharia principles, FXRoad offers an Islamic Account, which is compatible with Islamic finance. This account type does not include overnight rollovers and provides tight spreads and zero commissions on deposits.

All account types can be funded using various payment methods, and FXRoad does not charge any fees or commissions on deposits or withdrawals, further enhancing the transparency of their offering.

It’s important to note that while FXRoad does not explicitly state minimum deposit requirements for each account type, traders should review the terms and conditions carefully to ensure they meet any applicable requirements.

How can I open an account with FXRoad

By regulation, every new client must go through some basic compliance checks to ensure that you understand the risks of trading and are admitted to trading. When you open an account, you will probably be asked for the following items, so it is good to have them handy: A scanned colour copy of your passport or national ID A utility bill or bank statement from the last six months with your address You will also need to answer a few basic compliance questions to confirm how much trading experience you have. It is therefore best to take at least 10 minutes to complete the account opening process. Although you can explore the demo account immediately, it is important to note that you cannot make any real trading transactions until you have passed compliance, which can take up to several days depending on your situation.

How To Close Your FXRoad account?

The best way to close your account is to send an e-mail to FXRoad with the e-mail that you signed up with. Make sure that you have withdrawn all of your funds before the closure.

Account Types available at FXRoad

Account TypeAvailable
Standard accountYes
Demo accountYes
Islamic accountYes
VIP accountYes

Trading platforms available at FXRoad

FXRoad provides its clients with a user-friendly and versatile proprietary trading platform that can be accessed on desktop and mobile devices. The platform is designed with advanced trading tools and features, including real-time quotes, customizable trading indicators, and advanced charting capabilities, empowering traders to make informed decisions.

fxroad trading platform

Traders can access an extensive range of over 350 trading instruments across various asset classes, including forex, cryptocurrencies, commodities, indices, and stocks. The platform’s Economic Calendar feature keeps traders informed about important economic events and data releases that can impact the financial markets, enabling them to stay up-to-date and make well-timed trading decisions.

One of the platform’s strengths is its availability in multiple languages, catering to traders from different regions around the world. Additionally, the platform employs SSL encryption to ensure the security of all financial transactions and personal information, providing traders with peace of mind.

FXRoad also offers its clients access to a Virtual Account feature, which provides a simulated trading environment with a balance of $100,000 in virtual funds. This feature is particularly valuable for new traders, allowing them to practice and hone their skills without risking real capital before transitioning to live trading.

While FXRoad does not currently offer automated trading services like Mirror Trading or Robox, the platform’s user-friendly interface and advanced tools make it a powerful trading environment for traders of all levels. The platform’s features, combined with FXRoad’s commitment to transparency and client protection, create a comprehensive and trustworthy trading experience for its clients.

Trading PlatformAvailable
IOS appYes
Android appYes
Desktop windowsYes
Desktop MACNo
Web platformYes
Propriety platformNo
MetaTrade 4 (MT4)Yes
MetaTrade 5 (MT5)Yes

Deposits and withdrawals at FXRoad

FXRoad provides its clients with a range of convenient deposit and withdrawal methods, including credit or debit cards and bank transfers, with a minimum deposit amount that is not explicitly stated on their website.

One of the key advantages of trading with FXRoad is that the broker does not charge any fees or commissions for deposits or withdrawals. However, it’s important to note that any fees or conversion charges imposed by banking or payment service providers related to the client’s chosen payment method will be borne by the client.

To initiate a withdrawal, clients can easily log in to their account and select the desired withdrawal amount. FXRoad processes withdrawal requests within 72 hours and sends a confirmation email upon completion of the transaction. The minimum withdrawal amount for bank wire transfers is not specified on their website.

In line with their commitment to client protection, FXRoad offers negative balance protection, which ensures that clients cannot lose more than the amount they have deposited in their account. This feature helps to limit potential losses and prevent clients from incurring financial obligations beyond their account balance, providing an additional layer of security for traders.

How is the customer support at FXRoad

FXRoad places a strong emphasis on delivering excellent customer service to its clients as a regulated and trustworthy broker. The company’s support team can be contacted through multiple channels, including live chat, email (support@fxroad.com), and phone numbers for various regions like Brazil and India. Support is available from 05:00 – 18:00 GMT on weekdays and 07:00 – 16:00 GMT on weekends, catering to traders worldwide.

In addition to responsive customer support, FXRoad provides a wealth of educational resources to assist traders in their journey. These include daily market reviews, asset analyses, webinars, and more, aimed at improving traders’ knowledge and skills to develop successful trading strategies.

Frequently asked questions about FXRoad

  • Is FXRoad a good broker?

    FXRoad offers a wide range of educational materials and dedicated support, which many beginner traders welcome.

  • Is FXRoad regulated and trustworthy?

    FXRoad remains fully compliant with FSA rules and regulations. Traders should view it as a safe and trusted broker.

  • Is FXRoad a scam broker?

    FXRoad is a legit broker operating under FSA oversight. No scam warning has been issued on the FSA website.

  • What is the minimum deposit at FXRoad?

    The minimum deposit at FSAto open a live account is €250.

  • Which trading platform is available at FXRoad?

    FXRoad offers a proprietary WebTrader and a mobile trading app.

  • Does FXRoad offer a free demo account?

    Yes. FXRoad offers an unlimited demo account for trading beginners or testing purposes.