All You Need to Know about FXRoad Forex Broker — A Truth Revealed!

FXRoad is a regulated Forex broker that offers access to diverse markets of Forex pairs, indices, commodities, cryptos, and stock CFDs. The website of FXRoad is owned and operated by 4Square SY Ltd, a financial services company registered in Seychelles. FXRoad is regulated in Seychelles by the local authorities. The parent company, 4Square SY Ltd, has a registered entity in Cyprus providing payment solutions to FXRoad broker. The minimum deposit required by FXRoad starts from 250 EUR or equivalent in USD. The broker seems to be focused on offering a safe environment with superior Islamic accounts, with spreads as low as 0.6 pips on major FX pairs. Let’s dive deeper and analyze FXRoad’s critical features such as safety, assets, fees, accounts, support, and more.

FXRoad Forex broker overview of Safety

FXRoad has a simple yet easy-to-navigate website with all the important details transparently given. The broker supports this robust website with a license from the Financial Services Authority (FSA) of Seychelles. While the regulator is not very strict and allows flexible leverage options, FXRoad follows strict safety policies. The broker has a negative balance protection for retail clients, meaning traders can not lose more than their initial investment. This policy effectively allows traders to avoid going into minuses if they make unwise trading decisions. Another significant policy from FXRoad is segregated bank accounts. The broker keeps all client money in top-tier segregated bank accounts, preventing its employees from touching the traders’ funds. The broker is a member of an investor compensation scheme in case something goes wrong. Overall, FXRoad seems very legit and serious about the safety of its traders and its reputation.

FXRoad Assets and Leverage

FXRoad provides a broad selection of instruments across popular asset classes including Forex pairs, crypto assets, indices, commodities, and stock CFDs. The leverage is different for each asset class, offering a flexible approach:

• Forex pairs — 1:200
• Indices — 1:50
• Stock CFDs — 1:10
• Commodities — 1:50
• Cryptocurrencies — 1:5

All accounts come with the same leverage levels and there are no limits for retail Forex traders, they also get 1:200 leverage on FX pairs, just like professional traders. This was possible because of Seychelles FSA’s less stringent regulations about leverage. The 1:200 leverage is also flexible and conservative, which is beneficial for beginner traders. Stock traders can access robust levels of leverage with 1:10 while crypto traders can have a flexible 1:5 leverage.

FXRoad Spreads and Fees

FXRoad spreads start from 0.6 pips and change according to market conditions. Each trading account comes with different spreads including 2.6 pips on Silver, 2 pips on gold, and 1.4 pips on platinum accounts. The Islamic account is one of the best in the industry when it comes to spreads, as it offers swap-free trading from just 0.6 pips spreads on major FX pairs.

FXRoad Accounts

FXRoad provides several accounts such as Silver, Gold, Platinum, Islamic, and Demo. The demo account from FXRoad is completely free and provides virtual cash trading to check the broker’s services or develop and test strategies in real time.

FXRoad Silver Account

FXRoad silver accounts are targeted at experienced traders who want to trade with zero commissions and are ready to pay 2.6 pips spreads on FX pairs. This account is good for swing traders and is not aimed at scalpers. The minimum deposit starts from 250 EUR or equivalent in USD and there are no discounts for swaps. Hedging is allowed and pricing is in fifth decimals. While the silver account does not provide any additional benefits, it still offers 24/5 excellent support.

FXRoad Gold Account

The gold accounts by FXRoad come with even lower spreads from 2 pips on the EURUSD major FX pair, 1:200 maximum leverage, and a 25% discount on swaps. Hedging is also allowed for gold accounts, and pricing is also in the fifth decimal. There are services added for gold account holders including educational videos, webinars, dedicated support, and a dedicated account manager.

FXRoad Platinum Account

The platinum account is the most beneficial account for traders as it offers 50% discounts on swaps, 1:200 leverage, and spreads from 1.4 pips on major pairs. There are News alert services offered for this account and other benefits include educational videos, webinars, dedicated premium support, and a dedicated account manager.

FXRoad Deposits and Withdrawals

FXRoad offers zero commission deposits and withdrawals supporting several popular payment options like Apple Pay, Google Pay, Visa, and MasterCard. There are no hidden fees charged from the broker’s side, which is always a good thing when withdrawing profits. The withdrawal process will take some business days between 1-7 to get transferred depending on the payment method.

FXRoad Trading Platform

FXRoad has a custom-built proprietary trading platform powered by TradingView charts. The platform allows traders to trade on many different asset classes in one place, making it very convenient for multi-asset swing traders. It is a slight disadvantage that FXRoad does not provide access to advanced trading platforms like MT4 and 5.

FXRoad Education and Support

The education at FXRoad is excellent as it provides advanced materials such as educational videos and webinars. So, travelers can watch videos and learn important concepts, then access webinars and ask questions to deepen their understanding of financial markets, and then open a demo account to practice. The support is exceptional and includes live chat, email, and hotline channels. The live chat is the quickest way to contact the broker representatives and resolve any issues that may arise during trading. Both the website and support of FXRoad are multilingual and accessible in several different languages.

Is FXRoad legit?

FXRoad presents itself as a robust choice for swing traders who want to trade markets without commissions. The Islamic account from FXRoad is especially exceptional with 0.6 pips spreads and 1:200 leverage. The broker is legit and regulated, holding a license from the FSA of Seychelles and adhering to strict rules and safety policies. The broker also provides negative balance protection and segregated accounts and has diverse services for its top clients with educational resources, dedicated 24/5 support, and personal account managers.

Overall, FXRoad is a recommended broker for its robust services and superior safety features.