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FxGrow Review 2024

4.16/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Regulation:
  • VFSC
  • CySec
Foundation date:
  • 2007
Oleg Tkachenko
Written by Oleg Tkachenko
Contributor
Dr. BJ Johnson
Reviewed by Dr. BJ Johnson
Editor
Mirjan Hipolito
Fact-checked by Mirjan Hipolito
Cryptocurrency and stock expert
Updated:
4.16/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Regulation:
  • VFSC
  • CySec
Foundation date:
  • 2007
1*
people picked this broker on the Traders Union website over the last 3 months
* This information is updated monthly
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Our Evaluation of FxGrow

4.16/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Traders Union icon

FxGrow is a broker with higher-than-average risk and the TU Overall Score of 4.16 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by FxGrow clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.

Brief Look at FxGrow

Fxgrow was established in 2008, and today the company with offices in Cyprus serves customers from over 100 countries of the world. The company accepts both individual and corporate traders involved in the financial markets. In addition, Fxgrow customer care service is available 24/5. Fxgrow limited (www.fxgrow.co) is regulated and registered by the Vanuatu financial services commission (VFSC, 40308).

We checked the office of the FxGrow brokerage company in Cyprus, which is located at the following address according to the information on the company’s website:

Arc. Makariou C 59, Steratzias Court Block A, Office 14, Limassol 4003, Cyprus

Verified the company's address
* The results of this inspection shall not be regarded as an advice to choose the broker.

  • The company is located at the stated address

  • We were able to speak to a company representative

  • We were able to visit the office as clients

    • FxGrow Office
    • FxGrow Office
    • FxGrow Office

  • Video of the company’s office

Detailed report on the visit to the company’s office FxGrow

FxGrow Summary

Your capital is at risk.  Your capital is at risk.  CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage 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.

💻 Trading platform: MetaTrader 5, Mobile
📊 Accounts: ECN, ECN-plus, ECN-Elite
💰 Account currency: USD, EUR, PLN
💵 Replenishment / Withdrawal: Neteller, Skrill, Bank Wire
🚀 Minimum deposit: 100 USD
⚖️ Leverage: 1:100
💼 PAMM-accounts: No
📈️ Min Order: 0.01
💱 Spread: From 0,2 p
🔧 Instruments: Forex, Indices & Commodities, Metals & Energies Symbols, CFDs on Futures, Cryptocurrencies.
💹 Margin Call / Stop Out: 50%/50%
🏛 Liquidity provider: No
📱 Mobile trading: Mobile Platforms
➕ Affiliate program: Yes
📋 Orders execution: Market Execution
⭐ Trading features: No
🎁 Contests and bonuses: No

User Satisfaction

Score:
6/10

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Matthewfet
2 years ago

I have been working with FxGrow for more than a year and I recommend it as a decent company that will fulfill its obligations on all points of the client agreement. All trading conditions are clearly spelled out on the broker's website, so I see no reason to repeat myself. From what FxGrow is silent about: it will be comfortable to trade here only with pending orders. Although trading takes place via the ECN network, it is almost always difficult to enter the market: in 90% of cases, the order does not have time to be executed at the requested price and it is proposed to repeat the request. Scalpers will definitely not be able to make money here. I trade intraday when the flat breaks out on M15. If this does not happen before the release of news in the European session, then I do not climb into the market at any cost.

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julian
3 years ago

Here's my experience. I did the online process which went smooth and then uploaded my passport info. About 30 seconds later I get a phone call from a FxGrow rep saying he will help me get my account setup. He was expecting me to have a $1000 + ecn account. I told him I've had a lot of brokers and I want to start with the minimum $200 until I make sure that I feel comfortable to add more. He sounded unhappy and phone ended. At that stage my account wasn't even verified yet and I had to add another id. Now it's been 4 business days and I haven't heard anything from them and my account is still waiting to be verified.

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annu617
3 years ago

I transferred funds from Skrill to replenish the account, they came to the wallet in the FxGrow personal account. Then I cannot transfer funds to the trading account, the button on the OFFLINE wallet is constantly on. The support team does not respond to inquiries and emails. I would not really like to face scammers.

0
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wohis
3 years ago

In the first month, the execution was great until I made a good profit, after which I got unquoted or high slippage and started losing money because of it. Means, the FxGrow company is not very decent! I have withdrawn my deposit.

0

Comparison of FxGrow with other Brokers

FxGrow RoboForex Pocket Option Exness Forex4you Tickmill
Trading
platform		 MT4, MT5, WebTrader MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader Pocket Option, MT5, MT4 Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 MT4, MobileTrading, MT5 MT4, MT5, Tickmill Mobile App
Min deposit $100 $10 $5 $10 No $100
Leverage From 1:1
to 1:100 		From 1:1
to 1:2000 		From 1:1
to 1:1000 		From 1:1
to 1:2000 		From 1:10
to 1:2000 		From 1:1
to 1:500
Trust management No No No No No Yes
Accrual of % on the balance No No No No No No
Spread From 0.2 points From 0 points From 1.2 point From 1 point From 0.1 points From 0 points
Level of margin call
/ stop out		 50%  /  50% 60%  /  40% 30%  /  50% No  /  60% 100%  /  20% 100%  /  30%
Execution of orders Market Execution Market Execution, Instant Execution Market Execution Market Execution, Instant Execution Market Execution, Instant Execution Market Execution
No deposit bonus No No No No No $30
Cent accounts No Yes No No Yes No
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Team that worked on the article

Oleg Tkachenko
Oleg Tkachenko Author and expert at Traders Union
  • Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018. His primary specialties are analysis and prediction of price tendencies in the Forex, stock, commodity, and cryptocurrency markets, as well as the development of trading strategies and individual risk management systems. He also analyzes nonstandard investing markets and studies trading psychology.

Learn about our editorial policies.

Dr. BJ Johnson
Dr. BJ Johnson Developmental English Editor
  • Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito
Mirjan Hipolito Cryptocurrency and stock expert
  • Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).
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