Like most brokers, FXGrow takes a fee from the spread, which is the difference between the buy and sell price of an instrument.
The spreads displayed below are based on the minimum spreads listed on FXGrow’s website. The colour bars show how competitive FXGrow' spreads are in comparison to other popular brokers featured on BrokerNotes.
|EUR/USD (Average: 0.7 pips)||0.2 pips + $12.00||0.5 pips||0.8 pips|
|GBP/USD (Average: 1.1 pips)||0.4 pips + $12.00||0.5 pips||0.1 pips|
|USD/JPY (Average: 1.1 pips)||0.4 pips + $12.00||1.6 pips||4.0 pips|
|AUD/USD (Average: 0.8 pips)||0.6 pips + $12.00||0.5 pips||4.6 pips|
|USD/CHF (Average: 2.3 pips)||0.3 pips + $12.00||1.6 pips||4.0 pips|
|USD/CAD (Average: 2.9 pips)||0.4 pips + $12.00||0.5 pips||4.6 pips|
|NZD/USD (Average: 3.6 pips)||4.0 pips + $12.00||2.3 pips||5.7 pips|
|EUR/GBP (Average: 2.4 pips)||0.4 pips + $12.00||0.5 pips||3.9 pips|
Spreads are dynamic and are for informational purposes only.
As you can see, FXGrow’s minimum spread for trading EUR/USD is 0.2 pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with FXGrow vs. similar brokers.See all Spreads
If you were to buy one standard lot of EUR/USD (100k units) with FXGrow at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $3.1. Here’s a rough breakdown of the fees and how this compares against City Index & XTB .
|Spread from:||$ 0.00||$ 5.00||$ 2.00|
|Total cost of a 100k trade:||$ 0.00||$ 5.00||$ 2.00|
|$5 more||$2 more|
|Visit FXGrow||Visit City Index||Visit XTB|
All fees/prices are for informational purposes and are subject to change.
FXGrow offers over different instruments to trade, including over currency pairs. We’ve summarised all of the different types of instruments offered by FXGrow below, along with the instruments offered by City Index and XTB for comparison.
|FX / Currencies||FXGrow||City Index||XTB|
|# of forex pairs offered||84||48|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes|
|Exotic forex pairs||Yes||Yes|
|Commodity CFDs||FXGrow||City Index||XTB|
|# of commodities offered||26||21|
|Index & Stock CFDs||FXGrow||City Index||XTB|
|# of Stocks offered||4500||1606|
|See FXGrow's Instruments||See City Index's Instruments||See XTB's Instruments|
FXGrow offers the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.
FXGrow also offer 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
With FXGrow, the minimum and maximum trade requirements vary depending on the trader and the instrument. As FXGrow offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you’re paying to execute your trades.
As a market maker, FXGrow may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
As a nice bonus, FXGrow are 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 offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders negative balance protection price alerts and much more. You can see all of the account features offered by FXGrow here.
Finally, we’ve listed some of the popular funding methods that FXGrow offers its traders on the right.
FXGrow support a wide range of languages including English, Spanish, French, Greek, Arabic, Polish, and Serbian.
FXGrow has a BrokerNotes double AA support rating because FXGrow offer over three languages email and phone support.
As FXGrow is regulated by Financial Conduct Authority and CySEC , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:
You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.
While you might be able to explore FXGrow’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.
To start the process of opening an account with FXGrow you can visit their website here.
FxGrow is a Cyprus based forex broker regulated by CySEC. FxGrow over 100 instruments, mainly forex currency pairs.
FxGrow has been around since 2009 and has over 10,000 users. FxGrow offers various platforms and account types including the popular Mt4 platform. Clients can open an ECN mini accounts with minimum deposits starting at $100 and variable spreads as low as 1.2 and no commission on forex pairs. Clients who deposit more than $10,000 can get access to the FxGrow VIP account with much lower spreads and commissions starting from $8/lot.
FxGrow allow scalping, hedging, news trading and the use of expert advisors for automated trading. FxGrow offer VPS hosting and leverage up to 300:1 on VIP accounts and 200:1 for other accounts.
FxGrow offer accounts in USD, EUR, PLN denominations and offer support in English, Arabic, French Polish and Spanish.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from www.fxgrow.com on 01/07/2019.
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