The website of FXRoad is owned and operated by 4Square SY Ltd, a Seychelles and Cyprus-based brokerage company. FXRoad is a regulated Forex and CFDs broker overseen by the FSA (Financial Services Authority) in Seychelles. The broker is legitimate and provides several safety policies, including negative balance protection and segregated bank accounts. FXRoad is also a member of the investor compensation scheme and has AML and KYC policies. The negative balance protection ensures traders won’t lose more than their initial investment amount, while segregated bank accounts keep traders’ funds untouched by the broker personnel. Overall, despite being regulated offshore, FXRoad seems very serious about regulations and safety. FXRoad provides diverse trading account options such as silver, gold, platinum, and Islamic. The Islamic account comes with spreads from 0.6 pips on major pairs, making it one of few brokers with superior Islamic trading experience. In this review, we are going to dive deep and evaluate all the important features of FXRoad including assets, accounts, platforms, education, support, and more.
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FXRoad review
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FXRoad FX Trading Broker Overview
FXRoad provides access to diverse markets including Forex pairs, crypto assets, indices, popular commodities, and stock CFDs. The leverage system is dynamic and changes depending on not only the account type but asset class:
- Forex pairs — 1:200
- Indices — 1:50
- Stock CFDs — 1:10
- Commodities — 1:50
- Cryptocurrencies — 1:5
These higher leverage options for retail FX traders were possible by FSA regulations, which do not permit brokers to have strict leverage options. With 1:200, traders are going to access considerable buying power, but still be flexible and conservative.
FXRoad Broker: Trading accounts
FXRoad provides a wide range of different account types to appeal to diverse trading styles and methods. There are silver, gold, platinum accounts, and Islamic accounts for Sharia law followers as well. Different accounts come with slightly different specs, and higher-tier accounts even provide additional perks and benefits. The leverage system is the same for all accounts including Islamic and is capped at 1:200 for all accounts on FX pairs. The minimum deposit amount is set at 250 EUR or equivalent in USD, providing medium barriers for entry into the trading career. All account types come with fifth-decimal pricing and hedging is allowed.
FXRoad Silver Account
The silver account is targeted at experienced traders and offers the highest spreads from 2.6 pips on major pairs. This account does not provide educational resources or News alerts and is dedicated to general FX trading. However, it is suited for swing trading and day trading as it offers 0 USD commissions based on trading volume. There is no swap discount on the FXRoad silver account, unlike gold and platinum options.
FXRoad Gold Account
The FXRoad gold account is offering even lower spreads of 2 pips on major FX pairs and comes also with zero commissions. However, unlike silver, the gold account provides access to several services including educational videos, webinars, a dedicated account manager, and 25% swap discounts. The account is perfect for swing traders because of its zero commission nature and the leverage is also 1:200 for all traders no matter the status and experience. There are no hidden fees and deposits are free of charge.
FXRoad Platinum Account
FXRoad platinum account holders get even more perks and benefits than other accounts. The most disruptive features include 50% swap discounts and News alerts. This account also comes with dedicated support and an account manager, allows hedging strategies, and pricing is fifth decimal.
FXRoad Islamic Account
The FXRoad Islamic account is distinctive because of its 0.6 pips on major pairs, 1:200 leverage, and compliance with Sharia laws. All the services are also accessible on the Islamic account for 0 swap fees. The account is superior in its spreads, and FXRoad has very few competitors in the industry who can offer these attractive conditions.
FXRoad Forex Broker: Trading Platforms
FXRoad provides access to its proprietary trading web platform, which is powered by TradingView charts. The platform can also be downloaded on mobile devices and provides a seamless trading experience no matter where the trader is. Despite being not as robust as popular platforms like MT4 and 5, FXRoad’s custom platform allows traders to speculate on all offered assets in one place, which is very beneficial for multi-asset traders.
FXRoad Forex: Educational Features and Promotions
FXRoad provides advanced educational resources such as webinars and educational videos. However, these resources are not freely available for all users and only gold and platinum account holders can access all the materials. This can be considered as both an advantage and disadvantage of the broker, as dedicated educational resources offer traders more quality. With premium educational resources, traders can learn theoretical knowledge with videos and then switch to webinars and gain practical experience, which is a cornerstone of successful Forex trading. There are no promotions or bonuses currently offered by FXRoad as the broker is more focused on attracting experienced traders.
FXRoad FX Broker: Deposits and Withdrawals
FXRoad offers deposit and withdrawal free of charge and accepts numerous popular options including Google Pay, Visa, MasterCard, Apple Pay, and wire transfers. The processing times are also different, as bank cards and online payments take 1-2 business days to withdraw, while wire trainers require between 2-7 business days. The broker emphasizes having 0 fees on deposits and withdrawals, which is a great feature often overlooked in the FX industry.
FXRoad Forex: Customer Support
The support of FXRoad is provided via live chat, email, and hotline channels. Live chat is the most convenient and fast way to contact support and resolve any issues and challenges. The broker also provides an extensive FAQ section for quick answers. Both the website of FXRoad and support are multilingual and available in several different languages. The website of FXRoad is simplistic in approach and useful in functionality. There are dedicated sections with drop-down menus to simplify the navigation process for new clients, and the broker is absolutely transparent about its services and fees. There is also a risk warning popup menu, allowing traders to understand all the risks involved with financial trading. The support is working 24/5 and the staff are well-trained as we have tested them for some general questions. They have complete knowledge about the broker’s services and are eager to help and respond very quickly. Overall, FXRoad’s support is of high quality, which is a crucial part of online financial trading and adds to the broker’s legitimacy.
FXRoad Forex Review Conclusion
FXRoad creates a case of a very robust broker who takes regulation and safety into account and offers superior trading experience with its Islamic accounts. Forex spreads start from 0.6 pips, commissions for trading are zero, and the minimum deposit starts at 250 EUR or equivalent in USD. There are several trading accounts including silver, gold, and platinum offering excellent trading opportunities. Gold and platinum accounts have discounts of swaps with 25% and 50% respectively, and provide advanced educational resources including videos and webinars. The broker is especially dedicated to Islamic traders with its 0.6 pips and zero swaps. The leverage is 1:200 on FX pairs, which is flexible and conservative. Platinum account holders receive several benefits and perks including News alerts, a dedicated account manager, dedicated support 24/5, and premium educational services. Hedging is allowed on all accounts and fifth-decimal pricing is available, which is advantageous. Overall, FXRoad is a solid broker with a focus on safety, client satisfaction, and long-term relationships.
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