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fxroad review

FX Road

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fxroad review

FXRoad Review: Is This Forex Broker Legit or a Scam?

71% of retail investor accounts lose money, …

Overview

FXRoad is a fast-developing CFD brokerage that is becoming popular due to its extensive asset selection and competitive trading environment. Designed with novice and experienced traders in mind, FXRoad is unique due to its favourable leverage, competitive spreads, and wide range of trading platforms.

Can’t wait to learn more? This review of FXRoad offers a thorough rundown, evaluating essential elements such as spreads, leverage options, account selections, and platform features.

Basic Info

Broker FXRoad
website https://www.fxroad.com/
Registered Country Seychelles
Founded In 2023
Regulation Financial Services Authority of Seychelles (FSA)
Trading Platforms MT4, WebTrader, and Mobile Application.
Minimum Deposit 250 EUR
Maximum Leverage 1:200
Spreads Starting from 0.6 Pips
Virtual Account Yes
Islamic Account Yes
Payment Methods Maestro, Visa, Mastercard, Gpay, Apple pay
Customer Support [email protected]

05:00 – 18:00 GMT / Monday – Friday

07:00 – 16:00 GMT / Saturday – Sunday

What is FXRoad?

What is FX Road

FXRoad, situated in Seychelles, is notable for offering more than 350 trading instruments, including key currency pairings, leading global corporate shares, cryptocurrencies, and commodities.

This broker is dedicated to making the trading experience better, thus, it constantly adds new products to give a variety of investing options. As this platform is available on all devices, traders from all over the world, from novices to professionals, will always have the resources they need to succeed in trading. People can constantly find new opportunities to advance their trading endeavours with FXRoad.

How Does FXRoad Work and Why Choose It?

FX road's Certificate of registration

Operating out of Seychelles, FXRoad is a brokerage governed by the Financial Services Authority (FSA). Customers must complete a Know Your Client (KYC) process as part of the commitment to security and transparency.

This ensures that AML regulations and legal requirements are followed. To protect the account and money, this KYC process, backed by committed Customer Support, confirms identity and place of residence.

To further improve security, client money is kept in separate accounts with respectable credit institutions.

For such other forex brokers, you can check out Capitalix, tradeEu and Equiity also.

Our recommendation: Trading at FXRoad Review: Is This Forex Broker Legit or a Scam?

  • Minimum spreads – 0.6 pips
  • Maximum leverage – 1:200
  • Zero commissions
  • Demo account available
  • Standard security features

Advantages and disadvantages of FXRoad Review: Is This Forex Broker Legit or a Scam?

  • Low Spreads: 0.6 pips
  • Maximum Leverage : 1:200
  • Regulated from Financial Services Authority of Seychelles (FSA)
  • 24*5 customer support
  • Withdrawals and deposit options are less than other brokers.
  • Relatively new broker

Accounts Offered by FXRoad

FXRoad offers 4 kinds of accounts, i.e Silver, Gold, Platinum, Islamic account and a virtual account.

FX Road account types

Accounts Leverage  Spreads Swap Deposit Commission Customer Support
Silver 1:200 Spreads start from 2.6 pips No discount for Silver 0% 24*5 Available
Gold 1:200 starts from 2.0 pips 25% of Silver 0% 24*5 Available
Platinum 1:200 starts from 1.4 pips 50% of Silver 0% 24*5 Available
Islamic 1:200 starts from 0.6 pips Swaps Free 0% 24*5 Available

Steps to Open an FXRoad Account

There is a five-step process for opening an account in FXRoad. The following steps are:

Step 1: Click the “Open Account” option on the FXRoad website.

Step 2: Provide your contact information, such as your name, last name, age, email address, mobile number, and a strong password.

Step 3: After completing that, answer a few questions about your trading experience on the application.

Step 4: The last step is verifying your identity, which involves uploading the required files. You can choose to forego this step now and do it later.

Step 5: Once your account information has been validated, complete an online form and fund your account with the required minimum amount.

FX road sign up page

Login to FXRoad Account

After registering on the website, you can access FXRoad with a password and an email address.

FX road login page

Our recommendation: Trading at FXRoad Review: Is This Forex Broker Legit or a Scam?

  • Minimum spreads – 0.6 pips
  • Maximum leverage – 1:200
  • Zero commissions
  • Demo account available
  • Standard security features

Financial Instruments Offered By FXRoad 

Financial Instruments Offered By FXRoad 

More than 350 trading instruments, including important currency pairings like EUR/USD, shares of top international firms like Netflix and Amazon, well-known cryptocurrencies like Bitcoin, and necessary commodities like gold and oil, are accessible through CFDs on FXRoad. 

With this wide selection of assets, traders can diversify their portfolios and take advantage of a variety of market possibilities.

Spreads, Commissions, and Fees of FXRoad

FXRoad is a good option because of its commission-free services. It levies no charges on trades, withdrawals, and deposits. FXRoad provides 1:200 leverage to  their customers

However, the spread changes according to the account type you select.

For example, the amounts are 2.6 pip for silver accounts, 2.0 pip for gold accounts, 1.4 pip for platinum accounts and tight spreads for Islamic accounts.

Deposit and Withdrawal of FXRoad

FX Road Deposit and withdrawal option

FXRoad offers deposit and withdrawal options through Visa, Maestro, Apple Pay, Google Pay, and wire pay. Customers can quickly deposit and withdraw their money in the “My Account” area, choose the desired amount, and confirm. 

The broker processes withdrawals and emails a confirmation in three business days. Funds usually arrive in 5 to 7 business days after approval. Customers can also check the  “Transaction History” for an overview of the finances. 

Although FXRoad does not charge deposit or withdrawal fees, customers are still responsible for any related bank or payment provider fees. The minimum withdrawal amount via wire transfer is 50 EUR.

WebTrader

FXRoad offers 2 platforms such as WebTrader and mobile application, which are supported in iOS as well as in Android smartphones. 

The FXRoad platform works directly in the browser, so there’s no need to download anything. WebTrader is a popular and easy-to-use software that allows traders to quickly access necessary resources. A web browser and dependable internet access are all you need to start trading easily in minutes.

A handful of WebTrader’s features are as follows:

  • User-friendly interface
  • Trading Capability with Just One Click

Fx Road's Trading view

The broker offers a platform called TradingView, an application that helps traders trade with FXRoad. Custom charts, indicators, and other premium tools are just a few of the extensive market analysis tools that help traders organise their financial activity across a range of asset classes.

Company Details

Assets

  • Stocks
  • Forex
  • Cryptocurrencies
  • Commodities

Basics

  • Country: Seychelles
  • Licensed : 8426168-1
  • Regulations: Financial Services Authority of Seychelles (FSA)

Customer Service

Phone number: 05:00 – 18:00 GMT / Monday – Friday

07:00 – 16:00 GMT / Saturday – Sunday

For Brazil, 5561947565589 and for India, 911171279109
Email: [email protected]

Our recommendation: Trading at FXRoad Review: Is This Forex Broker Legit or a Scam?

  • Minimum spreads – 0.6 pips
  • Maximum leverage – 1:200
  • Zero commissions
  • Demo account available
  • Standard security features

FXRoad iOS application

For iOS, FXRoad offers an app that delivers an effective trading solution anywhere, at any time. With its user-friendly interface and robust security, the app gives customers complete control over the trading experience from the first trade.

FXRoad android application

Android software from FXRoad allows customers to trade while on the go and manage their deals from any location. The app keeps customers informed with market updates to ensure they grab every trading opportunity.

Educational and Research Resources

The website provides resources for understanding trade markets, such as market data, Daily Market Reviews, Asset Analyses, Webinars, and more. To assist clients in developing their trading knowledge and proficiency, FXRoad also offers educational tools such as webinars, tutorials, eBooks, and articles on trading and investment subjects.

Customer Support

FX Road customer care page

Customers may reach customer support by:

Phone number:05:00 – 18:00 GMT / Monday – Friday

07:00 – 16:00 GMT / Saturday – Sunday

For Brazil, 5561947565589 and for India, 911171279109
Email: [email protected]

A live chat option is also available on the website.

FX road Live chat option

Conclusion

FXRoad comes up as a competitive CFD broker with a wide range of assets and easy-to-use platforms. It serves both novice and experienced traders with various account options and no transaction commissions.

Even though different account types have different spreads, it is good that Islamic accounts can have tight spreads. Traders should be aware of any potential additional costs from payment processors or banks.At last, FXRoad offers traders looking for a thorough trading experience a dependable and flexible platform.

FXRoad is a CFD broker based in Seychelles offering over 350 trading assets.

Yes, FXRoad is regulated by the Financial Services Authority of Seychelles (FSA).

FXRoad offers MT4, WebTrader, and mobile applications for iOS and Android.

The minimum deposit at FXRoad is 250 EUR.

Yes, FXRoad offers Islamic accounts with swap-free options and tight spreads.

The maximum leverage offered by FXRoad is 1:200.

The minimum spreads offered by FXRoad is 0.6 pips.

Experiences

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